New York City's incoming mayor wants his first three paychecks paid in Bitcoin

midian182

Posts: 7,799   +80
Staff member
What just happened? Eric Adams, New York City's mayor-elect, wants to make the city the "center of the cryptocurrency industry." To show he's serious about these plans, Adams said he wants his first three paychecks paid in Bitcoin.

Adams announced his love of crypto on Twitter in response to Miami mayor Francis Suarez claiming he would take his next paycheck in BTC. "In New York we always go big, so I'm going to take my first THREE paychecks in bitcoin when I become mayor," Adams replied. "NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovativee industries! Just wait!"

The interaction does look like a crypto-love-measuring contest between the two men. Suarez has also said he aims to establish Miami as a hub for cryptocurrency innovation, and in August helped establish the MiamiCoin project, which lets people invest crypto into the city—it has already raised $7 million for Miami.

Suarez has announced that Miami plans to accept tax payments in bitcoin and let employees draw their salary in the cryptocurrency. The city also played host to the Bitcoin 2021 event earlier this year and has attracted several other big crypto conferences.

Adams said in an interview with Bloomberg Radio that this is all "friendly competition" with Suarez. "He has a MiamiCoin that is doing very well – we're going to look in the direction to carry that out," said the incoming mayor, who added that he plans to investigate what is stalling growth of Bitcoin and cryptocurrency in New York.

Whether Adams really does get his first three paychecks in Bitcoin remains to be seen, given the potential payroll and tax issues this could raise. And even if he does, this sole act is unlikely to make New York seem like a much better crypto investment spot than Miami.

h/t: CNBC

Permalink to story.

 

QuantumPhysics

Posts: 6,301   +7,229
I say: mayors shouldn't be paid unless crime is reduced and stamped down.

Right now, here in NYC, gun crime is high because the punishments are a joke.

You can literally be a 13 - 17 year old murderer and just be shuffled back and forth to family court. We lost the death penalty in this state and have been suffering for it ever since.
 

Bl00dyMinded

Posts: 469   +703
I say: mayors shouldn't be paid unless crime is reduced and stamped down.

Right now, here in NYC, gun crime is high because the punishments are a joke.

You can literally be a 13 - 17 year old murderer and just be shuffled back and forth to family court. We lost the death penalty in this state and have been suffering for it ever since.
You said it.. but NYC in general is a Joke. The whole state for that matter. Y'all voted them in...
 
I'm pretty tired of the boomer vibe of this forum. I do enjoy TechSpot and been lurking for years, but now I am forced to create an account.

This is a very forward looking move, by a mayor trying to set up an example. I don't particularly like him. Regardless if NYC has other issues, trying to make it a hub for any kind of business or investments, is never a bad idea.

Whoever stills says nay to cryptocurrencies in 2021 is a middle of the woods nut-ball, I'm sorry folks but crypto is here to stay, and here to solve a lot of issues with our monetary system. Sure, its not perfect, but it's a step in the right direction.
 

Kirby1

Posts: 157   +256
I'm pretty tired of the boomer vibe of this forum. I do enjoy TechSpot and been lurking for years, but now I am forced to create an account.

This is a very forward looking move, by a mayor trying to set up an example. I don't particularly like him. Regardless if NYC has other issues, trying to make it a hub for any kind of business or investments, is never a bad idea.

Whoever stills says nay to cryptocurrencies in 2021 is a middle of the woods nut-ball, I'm sorry folks but crypto is here to stay, and here to solve a lot of issues with our monetary system. Sure, its not perfect, but it's a step in the right direction.
100% agree. This place for whatever reason has a very right wing/conservative user base in the comments section. I've pointed it out before and had my comments removed for it. It's clear why you never see a lot of comments on this site since trying to debate these people usually just gets your comments deleted.

It's clear that the mayor is saying this because he wants to promote New York as a great place for crypto business just like he says and he probably doesn't actually care if they pay him with Bitcoin or not, but as per usual the obvious escapes most of the people who comments about it here.
 
Last edited:

3volv3d

Posts: 424   +220
I say: mayors shouldn't be paid unless crime is reduced and stamped down.

Right now, here in NYC, gun crime is high because the punishments are a joke.

You can literally be a 13 - 17 year old murderer and just be shuffled back and forth to family court. We lost the death penalty in this state and have been suffering for it ever since.

But the US loves guns. You want them you got to suck it up.
The UK slowly follows the US down this dark path. Knife crime insanely up, guns becoming more available.
I do believe it has got worse since the interwebs, more streaming apps and social platforms for people to ... You know where this is going on this platform, next stop Hypocricity.

 

lripplinger

Posts: 338   +138
So NYC elects another useless, vapid slug. How is this dude going to be any better than DeBlasio, woh has overseen the destruction of NYC with his stupid policies.
 

RudyBob

Posts: 514   +474
Whoever stills says nay to cryptocurrencies in 2021 is a middle of the woods nut-ball, I'm sorry folks but crypto is here to stay, and here to solve a lot of issues with our monetary system. Sure, its not perfect, but it's a step in the right direction.

I say NO because it is a scheme to collapse the world economy
 

cliffordcooley

Posts: 13,141   +6,439
If anyone wants bitcoin, they can buy them. The request for just three is ridiculous. It would be different if the request was for all checks to be delivered in Bitcoin.
 

Jack Deth

Posts: 67   +105
So NYC elects another useless, vapid slug. How is this dude going to be any better than DeBlasio, woh has overseen the destruction of NYC with his stupid policies.
He's not. They just swap one type of filth for the other.

Same thing with Cuomo's replacement. Just another placeholder for the status quo.
 

Danny101

Posts: 2,026   +838
I say NO because it is a scheme to collapse the world economy
That's going to happen anyway. At least crypto has the potential to be a safe haven. Anything the private central banks are against, I'm for. Then again, that could be a ruse. At any rate, prepare for hard times.
 

RudyBob

Posts: 514   +474
That's going to happen anyway. At least crypto has the potential to be a safe haven. Anything the private central banks are against, I'm for. Then again, that could be a ruse. At any rate, prepare for hard times.
Gold and Silver are your only safe havens. You think the Warlord of Davenport, Iowa wants Bitcoin?
 

cliffordcooley

Posts: 13,141   +6,439
I'm not an advocate for Bitcoin. But everyone that suggest gold and silver are the only stable foundations for currency are mistaken. Gold and silver value is based on what we decide it is. The potential for fluctuation in gold and silver is no different than crypto. The only stability in any currency is the effort we put in the value to keep it stable.
 

RudyBob

Posts: 514   +474
I'm not an advocate for Bitcoin. But everyone that suggest gold and silver are the only stable foundations for currency are mistaken. Gold and silver value is based on what we decide it is. The potential for fluctuation in gold and silver is no different than crypto. The only stability in any currency is the effort we put in the value to keep it stable.
Hogwash. Precious metals will be the currency because the other stuff has collapsed
 
Last edited: