Miami considering paying its city employees

miami considering paying its city employees

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Miami is considering paying salaries in BitcoinNew York Post ^ | February 12, 2021 | 6:27pm | Updated | Gabrielle Fonrouge

Posted on 02/12/2021 5:35:22 PM PST by E. Pluribus Unum

Bitcoin could soon be the currency of choice in Miami.

Commissioners in the Florida city are mulling whether or not to give public officials the option of receiving their salaries, or a portion of it, in Bitcoin and if they should allow the public to use the cryptocurrency to pay for city services, the Miami Herald reported.

Mayor Francis Suarez, who’s trying to shape Miami into a tech hub, is ready to go all-in with Bitcoin but commissioners voted late Thursday to first study the use of the virtual currency and to find a vendor that could help with transactions before moving forward, the outlet said.


“It’s wonderful to be a very ‘crypto-forward’ city in the city of Miami, and I want to thank my commission colleagues for allowing that to happen,” Suarez told the outlet.

Following a long discussion and questions about Bitcoin, the commissioners agreed 4-1 to hold off before an analysis on the futuristic currency, thought to be a guard against a failing dollar, is completed.

Commissioner Joe Carollo isn’t convinced — he voted no on the measure, the outlet reported.

“I think the mayor has done a fabulous job with that, and his intentions are coming right from the heart,” Carollo said.

“Having said that, I can’t drink the Kool-Aid on this one.”

Miami will begin launching public awareness campaigns in English, Spanish and Creole to teach residents about cryptocurrency while lobbying the state legislature to pass laws that will allow the city to invest public dollars in the highly-volatile cryptocurrency.

(Excerpt) Read more at nypost.com …

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Legal tender issues?

Cryptocurrency seems to be going mainstream. What does that portend for the dollar and traditional banks?

Everybody knows the dollar is heading for Venezuela-style inflation.

Yep and once it’s all electronic…

I’m a staunch supporter of cryptocurrency‘s. I’m currently invested in five different currencies. Most are trending very well upward. But as a payroll option? Ridiculous. Simply stupid in fact. Too volatile. Someone might wait one day to transfer their cryptocurrency‘s to dollars and lose 20 bucks in pay?

Not gonna happen.

It appears to be totally voluntary.

I got a Coinbase app and ignored it for a while, about a month ago, I put about $500 into small lower than dollar coins and now my accounts at $1,500.

It’s amazing how fast it grows, but I’d never put a large amount in, because if it crashes then you lose everything (for a while). Best to just put small amounts in and then reap the benefits several years later.

Pay them in GameStop shares!

Me too I invested small amounts and sell them to buy Silver Coins.

Same here, I made a nice profit of $700 after putting like $160.00. Cashed it out and brought Silver Coins with it.

Best to just put small amounts in and then reap the benefits several years later.

…………………………………………

Barring an E. O. order from Biden, that bars the use of crypto currency.

Unconstitutional you say? Ha, ha, ha, the rats say.

Biden’s reversal of a Trump E.O. just raised the price of my insulin by 600.67%

They can’t afford to pay in bitcoin. It’s going much higher in US$ terms.

So one week your are getting paid $4000 and the next week you are getting paid $5000 and the following week after that you getting paid $3000. What’s the problem? lol

And if pegged to the US dollar, then its is all a gimmick.

Does “diversity” demand that people use any currency they desire?

And, force people to *accept* such currency in lieu of US dollars?

Of course, the point is, the ridiculous and wild exercises of language structure that the left goes to, in order to find yet another jingo-ism by which to cancel.

that will allow the city to invest public dollars in the highly-volatile cryptocurrency.

Mind boggling stupid. Why not fly out to Vegas with 20% of the city’s budget?

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