Bitcoin Forum

Mayor Francis Suarez in an interview with Forbes (https://www.forbes.com/sites/rogerhuang/2021/02/01/miamis-mayor-leads-the-charge-to-bring-bitcoin-to-americas-largest-cities/?sh=16f59ebcc6c9) shared plans to expand the use of bitcoin in Miami, which includes the possibility of paying salaries to city employees in bitcoins.


Twitter and Square CEO Jack Dorsey called the idea smart.  Among other proposals, Suarez listed permission to pay local taxes and fees in cryptocurrency and a possible transfer of part of the city treasury to bitcoin.


In addition to efforts at the city level, the mayor is trying to promote crypto-friendly laws at the state level. To do this, he contacted the head of cryptocurrency bank Avanti (https://avantibank.com/), Caitlin Long, and spoke with the head of the Florida finance department, Jimmy Patronis, about introducing a bill to the state legislature that would establish the Wyoming style (https://www.wyoleg.gov/Legislation/2019/SF0125)rules for bitcoin.

"Miami and FrancisSuarez are leading the way for governments and Bitcoin," Gemini co-founder Tyler Winklevoss commented on an interview.

Gotta agree with Jack Dorsey, it is smart that they are going to these path where employees are getting the liberty to choose what to receive. Hopefully, these would expand to other cities in Florida or wishfully to other states, and hopefully this could be a big step for private companies to step up their game and try to cope with the times and give their employees the choice of having their salaries in bitcoin or in cash. My one problem with that is that with the volatility of bitcoin prices, wouldn't that mean that the city could have give underpaid or overpaid salaries to their employees which could be a grounds for lawsuit for both sides.

I wonder why not all leaders are like him!! Miami is lucky enough to have a mayor like Francis who seriously wants to welcome bitcoin like any other currency of the world. Only such leaders can bring positive changes among their citizens and can take steps towards achieving financial freedom!

Unfortunately, I live in a country where the leader is planning to impose a blanket ban on bitcoin citing the risk it bestows. We really need more people like Francis around the world for a better functioning society!

This is pretty incredible and makes me kind of wish that I still lived in Miami.  My stay there was quite brief, however I miss it for this reason and the fact that I spent an hour shoveling snow away from my car just yesterday so I could just get in it. 

I do wonder how this could play out scam wise.  Miami is a scammer haven.  I'm not sure there's a city in the US that's more heavily involved with scams/fraud etc. 

This is a great huge step forward for the governments to accept with bitcoin and deal with it. A few years ago, all these political men were saying bitcoin is scam and used only for bad purpose such as trading guns and drugs and now they are kinda forced to accept it. I believe, soon more organizations will use bitcoin or the other cryoto currencies as salary and people will definitely be more happy.
Because bitcoin is an asset and they can save bitcoin on their wallet and they won't be worry about inflection rates and they other stuff becayse they are not holding fiat. 

If companies don't want to start the initiative to try this, then the Mayor of the town would do it for them. This sets a precedent on Miami about bitcoin's possibility being a payment method for salaries. Most companies won't dare try to mess with it because of regulations and complications in taxes and whatnot, but thankfully the Mayor sorts these things out and spearheads the initiative for the companies and the employers to try something out.

It really is smart, as Jack Dorsey might have pointed out, and I do hope that other towns or just the state in general adopts this idea.

I agree with my colleagues that the news is positive. It would remain to be known if the municipality will pay them directly in Bitcoin or will do it with some fiat to bitcoin conversion. I suspect it will be the latter, at least temporarily, although they also want to collect fees in Bitcoin.

In any case this is going to help a lot mass adoption.

The mayor has big plans for the city. Once he succeeds through this campaign of his, they may really be able to make it like the big cities and establish big tech companies around them and influence other cities to do the same.  He seems to know a lot about bitcoin and its technology that he said he is also keeping an eye out on the bitcoin ecosystem.

They leader is too smart to take that step. It will be beneficial for their employees. I hope that more leaders would accept and have Bitcoin as a mode of salary payment. It will be a big help since we all need cashless transactions during this pandemic. Employees would have a freedom to choose whether to hold their payment or use it for their necessities. If leaders would have this kind of mindset, more people would see the advantage of cashless transactions these days.

Is this one of the FAKE NEWS? I'm skeptical about the government giving paychecks in BTC instead of their official USD.
Supposed this news is true, and he manages to get it done, the concept of legal tender is now vague.

But I think this is related to private companies, and they are free to pay their employees in BTC if it is allowed by the State's Law.

Well things have to start somewhere, but I also receive these news with a huge grin, many politicians are taking a prohibitionist stance against bitcoin but if they begin to see that the few places in which bitcoin is made legal a lot of prosperity comes to those places then they will begin to see that maybe the stance they are taking is not as positive as they thought, this is going to take time but we will get there, I think that at first we will see a lot of regulation coming to the market as governments want to hinder cryptocurrencies, but once they see that is useless too we will see more friendly regulations all over the world.

Great news! I think this is done in order for bitcoin to enter the market. It can become as popular a currency as fiat money ;)

What's with the clickbait title? you work for this mayor or what?  ;D
"Miami Mayor WILL"?? faaar from it

also, the Forbes article mentions this mayor wants to give the citizens the chance to pay taxes with btc? who'd want to do that? pay that sh*t with the ponzi scheme called USD and hodl your coins  ;)

oh, and this:

https://i.imgflip.com/4wj2te.jpg

all in all, this news is your typical 101 Political campaign and how to attract votes, expect more of these news throughout the year from mayors whose term ends this year

Let's move to Miami then!  ;D I was so happy when I received 20% of my salary in BTC back in 2017. I shouldn't have changed my previous employer (who I introduced to Bitcoin back then).  I felt like a pioneer during those very early days.
Times are really changing if a city council starts considering bitcoin to pay people's wages. When need more key institutional people doing the same to bring bitcoin to the masses.

If a certain country isn't really that too negative nor strict towards cryptocurrency then they would most like approved out these kind of system on where
neither those private companies will really be switching into those crypto payments.

Same here, I do really have that doubt on this topic on seeing that the governing bodies itself did really tend to accept nor decide to pay up salaries through bitcoin.

This system did really pass out on lots of argumentations for sure but in the end they do succeed out on pushing it through.This should really be
an eye opener into other states as well.

He is just a mayor. Maybe Florida Governor plans  to impose a blanket ban on bitcoin and USA president  to impose a blanket ban on bitcoin. If that is the case all plans of this mayor will fail.  In next decades there will be clash of opinions and plans.

You make a good point but the Florida government seems to be crypto-friendly ever since the year 2018 they study how blockchain and cryptocurrency works. Besides, you will see that a lot of block summit was held in Florida before the total lockdown and before the Mayor could make a public statement about paying salary in crypto there must be some in-door conversation going on it. However, it will be good news if the part of the city treasury swap into Bitcoin.

Jack and Tyler were to be bitcoin investors and supporters so any city that shall do this, they'll praise it and say smart idea. And the same as us, we like each time we hear news such as this because it's embracing bitcoin which we've been waiting for a long time.

I've heard of the taxation paid in bitcoin before and paying salaries in bitcoin is another good initiative for them. But it shouldn't be a forced payment in bitcoin and would just be an option and the employees still has freedom to choose it.

If I'm one of the employees, I'll take 50:50. 50% of my salary shall be paid in bitcoin which is already a good deal or 70:30. 30% in btc.

That would be amazing.  The fact that this is even a topic of discussion is ground breaking.  It starts at the local level, next is state then federal.  The slow growth of crypto adoption has taken great strides this year.  Hope that comes to fruition and people actually choose to do so.

The mayor of Miami was really open-minded about anything that may help their city for a more convenient process. Good to know that some of the leaders are having a good time knowing the bitcoin and other cryptocurrencies, hoping that many leaders will be like Miami's mayor in which he is open-minded about bitcoin and some leaders may also allow their employees to get their monthly salaries in bitcoin type. The adaptation of the mayor to the cryptocurrency is a good way to advertise the cryptocurrency and due to this cashless transaction, it may also help us to lessen the spreading of the virus because of this cashless transaction that may be brought by using bitcoin.

actually, the statement from the mayor has declared war on anti-Bitcoin...
I'm still not sure if this is the mayor's sincere wish or if there is any intention behind it. but I fully support the desire of this mayor to make it happen. *good luck to him

i believe this guy is the real deal, he is known to associate with important names in the crypto world such as chamath palihapitiya and kevin thobias, there are probably some big moves in the works

Not trusting that much? I do also have the doubts because its just too odd for them on suddenly accepting specially that ties up with government specially getting involved with Bitcoin.

This isnt something that you can just easily read on news articles etc. For private companies then it wont be surprising but for government itself?

I can really blame out those who are still skeptical on such decision had made.If this one is really true then its great but i do still have doubts.  8)

Doubts are inevitable especially when a government gets involved in cryptocurrency, but as I have read the first article where the Miami mayor showing interest with Bitcoin to attract more Innovative investors and tech entrepreneurs in the city, is such a good initiative.
Now, the city mayor has even moved to a much higher interest with Bitcoin by paying them employees with it. From there, we all can really tell that he's aiming for the biggest story with cryptocurrency involvement of a local government in the USA.

Congrats to Mayor Francis Suarez for the decision!

Usually, once anybody tries something and the results are positive, the others are following quickly. Let's hope that this will be the case with the Bitcoin salaries :D

A great leap of faith that is sure to pay off well!

About time more influential people take on the cryptocurrency industry, and what's really good about this is the fact that sinve the employees' salaries are paid in bitcoin, it'll be easier for them to decide on how they will jumpstart their investment journey with bitcoin, ehich is really cool IMO. Now there should be more people inspired to consider taking advantage of bitcoin now more than ever.

Should be started even before but still a good progress that the local government initiates this to happen. I admire the effort of Miami's Mayor here.

Anyways, is this a mandatory implementation or employees can choose if they prefer to be paid in BTC. As we all know, even there's a wide adoption taking place and it's no secret what's the advantage of using bitcoin, people themselves are still hesitant to use BTC.

I don't know how long a Mayor's tenure on that state but if that won't push during his period, do you think the next Mayor will still push that idea?

You said it right, if things went well expect that others will follow, this news brings Bitcoin to another useful ventures. Allowing employees salaries means that those people will have the chance to hold some assets.

If they'll see the value of keeping the money, the chance of making it more bigger in the long run adds up to mke them as investors to this system

Looking forward to more successful usages and more people to acquire and treat this system as alernative not just a investment form but also a good ecosystem for payment transactions.

...

Miami is making its move to become a major financial hub.  Already many NYC hedge funds and banks are moving some operations to S Florida (esp. Palm Beach County, two hours north of Miami).

Mayor Suarez may be stirring the pot a little harder to bring in tech talent (esp. crypto tech talent) from California.

Miami has much nicer weather than NYC (most of the year), and is much more free place than California.  Perhaps even more relaxed than California.  Lower taxes & less regulation than New York and California.

I mean, All employees should have the privilege of receiving salary in the form that they wanted, whether it's bitcoin, money, or even gold it should be their right.
Big companies should also follow this practice IMO since it's gonna give more freedom to the employee and by that the employee could focus more on putting their energy into working and not be bothered to through complicated process of converting their salary.

You are absolutely right when you say that more and more government agencies are investing part of their funds in bitcoin, for example, the California State Pension Fund (CalPERS) almost sevenfold increased investments in the mining company Riot Blockchain in the fourth quarter of 2020. At the end of 2020, CalPERS already owned 113,034 shares of the mining company for over $1.9 million.


From October 2020 to January 2021, Riot Blockchain shares have risen in price tenfold, so investments in blockchain technologies here are rather pragmatic in order to diversify savings

yes and it surprises me a bit, is this a sign of the start of crypto in the governance system.

Yes, Miami the capital where the legendary stories of "Florida Man" is born. I was following a Youtuber that lives in Tampa Bay Area, and he says that Miami is a big shit pit because everything there is expensive as heck. Not to mention the rampant meth addicts. The only good thing about Miami is the night club with expensive alcohol drinks and the beach where a lot of drunks are staying. I hope that this plan to give employees salary choices a success because this could be followed by many cities all over the world.

This is a huge step for crypto, being acknowledged by the government and is used as a means to pay employees' salaries. This kind of publicity can lead to mass adaptation and could also lead other municipality to follow their steps of this works out well in their municipality.

How would people feel if silicon valley in california died. And was replaced by miami florida.  

The only element they lack to create a solid tech business environment are capital gains tax cuts for bitcoin and crypto HODL'ers.

Florida already lacks state based income taxes and is a great low tax environment for starting and running a business. Those are definite advantages it has over california.

We could see interesting shifts over the next few years where florida's GDP cap skyrockets off its business friendly deregulation and low taxes. Coupled with malcontent over high taxes and overregulation in california.

Whatever our current doubts, the most important thing is that this news will give a positive vibe to Bitcoin itself. If more governments legalized Bitcoin, the much better. Keep thinking positively guys, hopefully even though it's not too big the effect will still provide benefits for me. And this can expand the reach of bitcoin socialization to the general public so that they are more aware of the benefits they will get in the future.

He did not said it will happen. He said they will research it and think about it. They are considering. Everyone should consider and pay salaries the way that is best for them. Without research that will not happen.

Oh ok, now I understand the whole story and I believe he considers making some research about the idea due to his political reputation which I believe he don't want it to be affected but him making a public statement mean he will work on it and we may see some company paynf their workers salary in crypto within the Miami axis.

Hopefully this would happen in other countries too, it surely help to make fast the adoption of Bitcoin since most people doesn't have any idea of what is Bitcoin. Hopefully the plan would went well and there is no commotion behind the scene. It's a positive news already driving to help employees to choose what sort of payment they would like to accept.

I have a doubt about the gold part since it would be a waste to just give the employees a couple kilo of gold. Employees, would most likely to choose fiat over crypto but it also depends on what could be their choice.

The Mayor is optimistic about this but does their employees want that plan?

Employees will surely prefer the usual way of getting their paychecks instead of receiving it by Bitcoin and convert it using a third party platform as they already need the money.

But since the topic said "will allow" means not all can take part and maybe for employees that prefer it.

This dude is really interested in bitcoin, first it was all about how he was willing to spend tax payer money buying bitcoin and calling it an investment, afterwards it was all about how salaries for the workers, what does he know about bitcoin that we do not know about?

I mean do not get me wrong I am here as a bitcoin lover and I love it very dearly as well, but if I was given responsibility of taxes I wouldn't be really comfortable with anything we could do, I would probably be shocked at first and try to "invest" back into the public, because tax payer money should go back to tax payers and not into some investment, if there is excess amount of money from the taxes we collect there is two things we can do, either give it back to people, or simply use it to make the city better for the people, otherwise investing it makes no sense at all.

That’s good, employees should be giving an option to choose between fiat and cryptocurrency, which they would like to receive their payment with and also what percentage they would like to have paid with either option.

I worked for a company that was doing just that, paying employees through Bitcoin, my salary then was $600 and I was receiving all of them every month through Bitcoin, that helped me to be able to have some bitcoins easily as I was converting part of it and leaving the rest in my wallet and when prices go up I would usually make more money from the assets I have stored in my wallets. And it teaches how to invest, cause most of the employees in companies that will choose to be doing this would not have experience of what investment looks like, if they are giving this option they will like to try it out.

If I am also one of the employees of a company or government that will make a change in the way I get paid, I will also choose to just receive my salary in Bitcoin payment since I already know about crypto / Bitcoin and I know its trend.  But maybe those who don't know yet will think twice, but of course, they will still be given a choice of what they will still prefer between fiat and crypto.  And at least those who do not know will have an idea, and since those with them are already accepting and using Bitcoin, they will also imitate until they are all the same as receiving Bitcoin.  And of course, neighboring areas will also know this and those who know will expand and expand.  But those who disagree with the imposition of the crypto tax may worry because I know this is one of the fears that the government will do.

Good thing it is just optional and it not something of a one-way choice. I do respect your take with this scenario but In my case, I'd choose to receive my salary in fiat rather than in Bitcoin or other cryptos. I do support this technology but salary in form of crypto will also mean it would be part of your crypto investment. I still prefer putting a certain amount into this technology to be held for a period of time and not totally all of my salary because there is a tendency for the market price to fall and I will be needing my salary to suffice my daily needs. I'd rather invest 20% of every pay off in order to regulate my investment in a way that I will be in control of it, just to avoid that much of a risk.

That's a good thing, if I will be one of their employees I will prefer bitcoin over paycheck , I can convert some of it into cash and will save the rest for the whole year it will be good for long term investment or I can use that bitcoin to buy other hype coins now and sell it as soon as I have gained in just doing that I can have more profit than my salary, this is a piece of good news if some of their employees are into crypto market.

Honestly even as a person who has been around for 8 years in the crypto industry, I wouldn't get 100% of my salary in crypto, that would be way too risky and I never suggest that for anyone. Remember we always say that you should only risk money you can afford to lose, and salary is not something people can afford to lose, what happens if bitcoin goes 50% down in a month? Your salary will become 50% less as well and many people can't live with that and would have economical problems.

I invest money I can afford to lose, if all of my investment suddenly becomes zero dollars I would still be fine about it, and nothing in my life would change, I would be upset that they are gone emotionally but financially nothing would change. So if anyone considers this option, I would say maybe get 10% in crypto and 90% in fiat so that you can spend the fiat to live and keep the 10% as an investment.

Yes, I know that we have different views on such scenarios and our opinion depends on the status or state of our financial affairs.  I just put myself in the current situation because of the ongoing and circulating news about the successive adoption of Bitcoin so I would like to increase the crypto I hold.  Yes, I also know the risks involved in investing and handling Bitcoin.  Maybe if I knew that crypto could not be exchanged for fiat, I would be hesitant and maybe that would not be my choice. Right now, it is no longer difficult to convert or cash out Bitcoin to fiat just like @k@suy said above.
So I choose crypto because I just think of the opportunity that can even increase the money from the salary.  My job is to convert occasionally to also get a little delinquency.  Maybe we can only store more Bitcoin because we know there are still fiat costs available.  I also don't want to lose Bitcoin because of the benefits.  

The story continues as the Miami City Commission voted to explore options for integrating bitcoin into the municipal infrastructure. This was stated by Mayor Francis Suarez:


Ken Russell, the deputy chairman of the commission, called for making sure that the authorities understand "what they are getting into"

If they managed to get "pay workers in bitcoin" done already, as in any person who wants to get paid in bitcoin can get paid in bitcoin, that means they are already one step ahead of everyone else, and when they managed to also put some investment into bitcoin from treasury as well, that means we are talking about people who would be great for bitcoin like cities and maybe states and other things so this is great.

I agree that they are doing something risky, that is true, but USA is not my nation so I am totally fine with it, as long as they test it if they fail that would be bad for them and nothing for me but if they succeed that means it would be good for them but great for me. You have to realize governments are much much bigger than companies, Apple was around 2-3 trillion dollars worth for example, USA just has debt that is nearly 30 trillion dollars and that is just the debt. So if governments go into bitcoin it would certainly skyrocket.

     This indeed is a smart move. Specially now that this industry is still on it's early stages. Using bitcoin, will make way for other alternative coins out there to also be adopted in the future same as bitcoin if it all works out well. I just hope that the bill would not be too unfair for the crypto currency users and would be showing genuine hunger for innovation by  being more lenient. If this would be the case, there can only be great things ahead of both this industry and the common ones.

This is probably very good news for the crypto industry as this action will start the massive adoption of crypto around the world in the real sector. Also, this event will help to avoid the problem with inflation, which is very likely in the US in the near future. I also hold BTC and believe in its success. Let's hope the Mayor of Miami succeeds. It is likely that BTC and the entire crypto industry are on the verge of a big breakthrough, and this is very encouraging.

Khurram Shroff, head of Dubai-based investment firm IBC Group, plans to buy 100,000 BTC to create the Miami 2.0 Blockchain Strategy Foundation, Gulf News (https://gulfnews.com/business/company-releases/dubais-ibc-group-pledges-100000-bitcoins-the-largest-bitcoin-investment-in-history-to-support-setup-of-miami-20-blockchain-strategy-foundation-1.1613649280442) reports, according to him, the decision is due to the request of the American developer Burkhan World Investments for the introduction of blockchain technology in the real estate sector of Miami. 

https://gulfnews.com/business/company-releases/dubais-ibc-group-pledges-100000-bitcoins-the-largest-bitcoin-investment-in-history-to-support-setup-of-miami-20-blockchain-strategy-foundation-1.1613649280442

LOL.. look at the state of Bitcoin today. It is down by more than 20%. Imagine what will happen to the employees, in case they were paid with Bitcoin. Will they be OK with a 20% reduction in their salaries? By the time they convert their Bitcoin to fiat cash, a significant chunk of it will be gone. Anyway, I don't think that paying salaries with BTC is a good idea, since the acceptability remains low. Those who receive BTC may need to convert it back to fiat for most of their expenses.

It will be a smart move towards Bitcoin adoption and usage but still employers must consider the choice of its employees to freely choose for their own if they wanted Bitcoin or still remain into fiat upon receiving their salaries for the reason that despite Bitcoin's popularity, there are still people who do prefer fiat instead of Bitcoin for their own personal reasons and for the fact that Bitcoin value is really that volatile and not that always into the trend of rising because it have ups and downs, it will still be best if they would let them choose on what type of currency they wanted their salaries to be.

Most likely, at the moment it is not okay for them to have a reduction in part of their salary for those who receive and choose BTC. Even though BTC's acceptability has grown and increased, it still does not really lose its volatility. So employees should be aware of the consequences of accepting it, they know that the value of their income can decrease or increase.

Also, that is not permanent. Those who really receive the BTC should be the ones who have enough knowledge about it, especially in its price movement, and are sure of the risk involved. They will only accept the BTC if they still have a fiat to spend like now they do not first touch the received BTC due to its depreciation and wait for it to rise again before they convert if they want to.

Can we use Bitcoins in the local supermarket? Or can we use them to pay school fees, utility bills, medical bills, or rent? Unless these things are possible, I don't see a point in paying the salary with Bitcoin. There is no logic in making the payment with Bitcoin, when the employee ultimately need to convert back to fiat cash to take care of his daily expenses. It can only cause inconvenience, in the form of time and fee required to convert BTC to fiat.

I believe this is a great news for the bitcoin community. It shows how good and fast the adoption of bitcoin can be. If the mayor of Miami allows employees salaries in bitcoin, then it means the government are slowly coming around to acknowledge the fact that bitcoin has come to stay.
I, however, do think that this is not the right time. Many of these employees, if not all, would have to convert their salaries back to fiat in order to pay bills and spend. What then is the essence of the salary in bitcoin when I even have to pay transactions fee in order to have my money in fiat.
An idea such as this can only be successful when bitcoin can be used to pay for goods or services without having to convert to fiat.

A very bold step taken by Major Francis Suarez by allowing employee salaries in bitcoin. If many politicians and world leaders think like Major
Francis Suarez, surely Bitcoin development will be much faster, and also the price of Bitcoin will be much more expensive. But I believe salaries
in Bitcoin are not a must, but this is a payment option only. So each worker will be given the option of whether to continue to receive a salary
in fiat or in Bitcoin. Because not everyone wants to get a salary in Bitcoin, and I believe Major Francis Suarez will not force employees to accept
salary payments in Bitcoin.

It's one of the downsides of using crypto as means of paying g salaries. It's a good initiative for Miami's mayor and it is favorable for the crypto community since this will bring a lot of crypto exposure. However, price fluctuations in crypto might affect an employee's salary. Not to mention the fees they have to pay if ever they need to convert it to cash or even transfer their funds. I know some of us thinks of it as good news, but looking at the bigger picture this could be bothersome for some employees especially those who are not used to crypto.

A very good news indeed but I don't understand the difference between getting bitcoins as the payment of your salary or getting the money in your bank in dollars and buying bitcoins with it directly. Whether your take bitcoins or cash or bank it does not change the fact that it completely depends on the employee what he prefers and if actually wants he can easily get his salary converted in bitcoins.

But yeah good news, shows there is interest from big companies and them paying Bitcoin to their workers will at least bring positive energy if not anything else and inspires some guys to take their salary in bitcoins.

The difference is in getting your salary directly in your wallet, and now you are your own bank! At least it's one of the differences! I am for cutting down the middleman here, why do you need banks in the first place? Now when we have crypto banks are becoming useless!

I don't know how I missed this news! Great Miami Major, there're smart people in some governments! He understands what is better and he decided to for crypto future! As always, early adopters have benefits, I bet Miami will have a lot of benefits if they push this law and allow people to use crypto freely!

It is good to think that there is such a city leader having a mindset like this. Adopting btc as a way of payment for salaries to the city employees is a good way, it is also good if he/she will pay equavalent to the previous salary and not by the fix number of bitcoin/s.

And how many of people will be ready to recieve their salary in btc? What about other crypto?

That's a good move specially that BTC is now in it's run. It will also do good for BTC and probably more cities will adopt to this kind of salary payment. I believe this is just the beginning and more will more likely to follow you Mr. Mayor. Congrats.

The mayor of Miami, Francis Suarez, in the framework of the Unchained podcast, spoke about the desire to create a center for bitcoin mining in the city. According to him, 90% of bitcoin miners use, in his words, "dirty energy" outside the United States. https://www.youtube.com/watch?v=bTCEw92fHns


According to the mayor of Miami, the United States is ready to provide large bitcoin miners with access to renewable energy sources. He believes that US should produce more digital gold, including for reasons of national security and environmental protection.

I mean he is right, most large scale mines are in other countries like China but they too have Nuclear energy. I hope that this mayor is going to walk with all this talk, I mean there is a lot of promises here. Hopefully even if the mines do not migrate to US, they will still move towards a clean energy.

These are awesome news. Great to see that also governments start to switch into the crypto world. Getting paid on bitcoins is a big step for bitcoins to become the new world currency. If I had the chance to get paid in bitcoins I would take it. The more people use bitcoins the better for us all. We need to try and convince more employers to switch into cryptos.

- Outside, this seems to be good news but on the inside, I just feel this information will entail a bigger controversy between countries because bitcoin has created many illegal problems in countries and led the path of criminals, therefore, limiting use is the preferred solution and countries that pioneered the use of bitcoin in a different direction are likely to face a lot of pressure from other countries. The benefits in this story also carry many potential risks to residents, our monthly income will go out of control and volatility is the easiest thing I realize

Everytime I read news about government and its policy, I always think that there’s must be another economical background that can makes them rich behind it, for example strategic partnership with big institutions, etc.
I believe this is one of it. They are trying to open partnership for money. It’s just my speculation opinion.

The most important things about this move is, they need to educate well their people about bitcoin.
Because I believe this move will gains a lot of interest.

Yes, in some way, they are encouraging people to get acquainted with bitcoin or crypto. Since there are a lot of crypto news lately, some of them will be interested to get a hold of bitcoin. And this will be one way of opening their world to crypto. And of course, they will get help from their government also if they want to receive their salary in terms of bitcoin. Definitely, there will be small talks or seminars that comes with it. I don't think the government will just let its people discover on their own, they will have some orientation at least on how to deal with bitcoin and the consequences that may be involved with it.

Anything coming from politics should be taken cautiously. I think it's too early to say if it's good news or not.
Before saying so I would like to see how it is going to work on practice and what will be the consequences of this crypto friendly government to the rest of crypto adopters.

This will look nice when we are in the Bull trend but I am thinking, what will happen to those salary earners who are now receiving their salaries in Bitcoin once the price of Bitcoin starts going down? what use to be worth $100 can maybe worth $50 or maybe on the other hand it could be that they will get Bitcoin worth the amount of their salary  ??? either way i think it is a good move to further expose Bitcoin and the crypto ecosystem to a wide audience.

it is a risky and populist move, since these workers had to live from something, and they will have to spend their BTC when paid, it is not for holding
either way, it could be a great move to speed-up adoption and bring stabilization on BTC price on one hand, but I did not catch important thing, and that is what will be the denomination price, BTC or USD, will they have pay defined in BTC, or just paid BTC amount, based on USD defined salary?

Don't be so harsh. Even if they have a new adjustment to benefit themselves, you can't deny that it also benefits other people. We are in a world where people have to cooperate with each other to survive and endure a hard time. This should be considered as a progressive alteration for both Miami and its people. Firms are now free to use cryptocurrency for different purposes and this is just the first step of everything. Let's just wait and see

It is indeed a good news but we have yet to see if it is a sustainable way to pay the employees in the long term. Convincing them won't be a problem since all that it takes for an employee is to see the price chart of bitcoin and they will not be thinking twice about getting paid in bitcoin, the problem is they don't have a lot of choice when it comes to buying essential items and goods when they only have bitcoin.

Why do I get the feeling that this Miami Mayor has dumped a lot of money until Bitcoin and will prosper from further prices rises that such news could invoke. It's interesting to see Bitcoin work it's way into public finances but I am not quite sure where they will have Bitcoin as an income, in order to pay it as an outgoing expense? The US treasury would likely be strongly against such plans, because it starts to interfere with the wider government monetary policy and could prevent the ability to respond to a future financial crisis. While private business should be free to pay employees in whatever format they want (which meets minimum wage laws) it seems like it could be a disaster waiting to happen when public money is used in such volatile assets.

Such news amazes me since it is still unimaginable in Korea, not suited to the reputation of being a digital powerhouse. It must be a solid proof that Bitcoin is recognized as a real value store.

There's nothing to worry about volatility if this is your concern since for sure their salary are still fix in USD value and if you are worried about if they lose some money for holding well thats isolated case since they have an optiom to cash out or either hold and remember the potential of possible good profits is by doing a long term hold and might they will earn richest from it by holding bitcoins and thats a good benefit what can employee might possibly got for accepting bitcoins.

This is nice, I mean even the Mayor's office considers the adoption of Crypto. But do you guys think that it will be possible for shares of stock (https://btcs.com/) as well? I mean the salary can be paid with stocks?

It is somewhat a "publicity stunt" rather than getting into decentralized goodness of what Cyptocurrency has to offer.


If the mayor really pursues a crypto-friendly state, mass adoption should already been in the move. Such as local shops accepting major cryptocurrency for payment. Avanti's Preparation for Digital Banking Operations (https://www.coindesk.com/caitlin-longs-avanti-raises-37m-ahead-of-crypto-bank-launch).

On the other hand, "Avanti’s final pre-launch task will be getting clearance to bank with the Federal Reserve, Long said." backing it up to the Federal Reserve with all the possible collision of [Centralize vs Decentralize] System will be more of a large task.

To sum up it all up,
Getting clearance to bank with Federal Reserve. If such clearance would be even permitted by the Government.

Paying employees with Bitcoin is fine, but they will have difficulty converting them into cash. Currently, the transaction costs of cashing out at Bitcoin ATMs are too high and annoying people who are paid in Bitcoin.
Bitcoin should be an investment of their savings rather than a means of daily payment. So paying a salary in Bitcoin is not good in my interpretation.
I wonder if the US government allows them to do that.

Even if he could just pay few people in bitcoins, that would be example and that is very important. I have been paid bitcoin salary for nearly 4 years now and I can tell you that it is 100% guaranteed better than regular salary paid with fiat. I have kept some of my bitcoin salary in bitcoin and withdrawn the rest, and that part that I kept became x10 bigger in the end.

There is no way I could have gotten this much richer if I got paid in fiat and made some investments with it, I am not a great investor so I wouldn't be able to make that kind of money in anything at all. So long story short if Miami mayor manages to pay some people in bitcoin, those people will get richer, and others who see that they get richer will ask for it, even if it is 50% in fiat and 50% in bitcoin and if that's possible there will be a lot more people who will ask for that for sure.

They should at least make out some surveys if you are the owner of such company where people do agree on receiving their pays in bitcoin form or would just typical stick out with fiat?

Such integration is great for the sake of adoption but for people's situation where fees and exchanging or conversion is something bit hassle on their part.

If they do find out that fee's are too high then they would be surely preferred the fiat.So its better to hear up others voice than on directly making it happen.
As long do government give out permission then these things do really allow to happen.

Even at that say they pay equivalent to the previous salaries, during the time of withdrawal for the workers, is there not going to be some transaction fees? even it is that they will trade it or use to purchase stuffs online which by the way you can not get everything you need online store that accept bitcoin for now, is there not going to be some fees as well? I believe the workers will be at the losing end and might experience some issues using this directly instead of  say, it was an investment which you might want to hodl to a while cos people want to spend their wages.
By the way, I believe it is a good Idea but I also believe that workers should be the once making that choice to accept Bitcoin as the means for the wages and not fiat.

After reading the opinions and grievances of others discussing the disadvantage of accepting bitcoin as a salary I pondered their point and it was correct.  So we work to have an income that supports our daily expenses.  But if employees can accept the cons and understand the risks associated with it, it is up to them to choose Bitcoin for whatever purpose they have.  They can do this if they want to store some part of it, especially if they have a fiat reserve for expenses.  That is, you also can't determine if at a time when you don't have money, is it worth what you hold and if there are any gains to be made?

Hoping that most businesses or companies will adopt this kind of development or evolution in paying its employee.

This Mayor is really a man of culture, he knows how digital aspects are evolving and how cryptocurrency can really be a useful tool nowadays.

I'm happy that these kind of news are existing and really happening due to bitcoin's prevalence in the market and economy.

This is so good for the people who really love the use of bitcoin and they can use this as an investment but now I'm just wondering what if the lower class people or workers is this a good idea? I think with quite a bit of knowledge regarding bitcoin with market volatility they can't too much to adopt these changes it's good only for the middle and to the upper class because they can handle and keep updated about the possible movement of the market.

You might be right about that, I might be worrying over nothing. Maybe they should also add the option of splitting the salary to fiat and bitcoin or make the employee choose how it should be split, have they already addressed the issue about the taxes though because AFAIK even minimum wage earners in USA has to pay taxes.

I am getting all of my salary in bitcoin right now and I can talk about how freeing it is, I can spend it if I want to, or I can turn it to cash if I want to, or invest it however I want, it is really amazing. Fiat always had this scary thing because my money is in the bank, whenever I need money I just cash out some bitcoins and spend that, so basically I do not keep too much fiat in my bank account, I keep it in bitcoin as long as I can, that allows me to take advantage of this situation that we are in. Plus when bitcoin goes up, my salary looks like it went up as well, I really like that.

I think the best thing for us to do right now would be to make sure that we do not end up with a big drop, if there is a big drop that would be like I got paid very little, but aside from that I am doing great with bitcoin salary.

Dont you have any savings in fiat form since you dont like banks? If thats the case then you should better make out some savings at least even though you do hate banks that much.
Its good to hear out that you do accept bitcoin fully as your salary even though it is volatile but still you do see on the positive side of things where everybody couldnt really be having
the same views like yours.Some would still much prefer on accepting fiat as their salary and avoid volatility as they dont like on accepting something which can possibly
decrease but for those who are aware on the risk then they can choose up on what they do prefer.

This is a great decision from Miami Mayor Francis Suárez. After reading the comments of the announcement made on twitter by the mayor, the response was very positive. Some believe that this idea will come up to other municipalities and public and private institutions anywhere in the world.

I feel like I want to move in Miami.  :D

What I can only say about this is what a great move by the City mayor. Paying employees using bitcoin will surely bring great impact in bitcoin community, more people will come, which means more profit on the coming months. Can't imagine how much change could this kind of action bring, knowing the count of people in that land, I guess it is surely big. Hands up to him.

According to a letter published on the website of local authorities, the Commissioner of Miami-Dade County in Florida, Cohen Higgins, announced the creation of a working group to study the possibility of paying taxes in digital assets as a means of payment, Bitcoin, Ethereum and Litecoin are considered. http://www.miamidade.gov/govaction/legistarfiles/Matters/Y2021/210817.pdf

The mayor of Miami, Francis Suarez, at the last virtual summit of Ethereal, said that in early March he bought bitcoin and Ethereum. He made the decision after the US Senate approved a $1.9 trillion bailout plan.
According to Suarez, people will not want to store the currency in US dollars, so cryptocurrencies will continue to grow. The official added that bitcoin has reached too high a level of acceptance to fall under the regulatory ban.  https://www.youtube.com/watch?v=y__YwqrJuYE

The latest new from Francis Suarez is that he is pushing for a pro-Bitcoin legislation in Florida.

https://www.miamiherald.com/news/politics-government/state-politics/article250961884.html

Unfortunately the bill has got stalled in the Florida senate and the chances of any forward movement looks very slim. But at the same time, the bill has attracted bipartisan support (which is still not enough to pass it).  Republican Party's Vance Aloupis (the representative from Miami-Dade) is sponsoring the bill in the House.

In Miami, the use of bitcoin is becoming more widespread, for example, the Miami-based yacht manufacturing company Prime Experiences has added the ability to pay for services in bitcoins. Prime Experiences also announced the transfer of web services and mobile platform to the blockchain in order to improve the security of transactions. https://www.prnewswire.com/news-releases/prime-experiences-is-set-to-revolutionize-the-luxury-yacht-charter-market-by-accepting-crypto-technology-as-payments-in-the-us-301292888.html

Francis Suarez, a Miami major, has revealed what he has in his crypto portfolio and talks about Elon Musk as the trigger for bitcoin's volatility. The mayor also noted that he is a big fan of Elon Musk, however, in no other markets other than BTC, the price of an asset can be raised by ten to twenty percent by just one tweet from one person. https://u.today/miami-mayor-unveils-his-crypto-holdings-refers-to-elon-musk-as-volatility-factor-for-bitcoin

Crypto Company Blockchain.com announced the relocation of its U.S. headquarters from New York to Miami and the expansion of its staff. Miami Mayor Francis Suarez noted that the move of the bitcoin exchange "reflects the essence of the movement" of the city. https://www.prnewswire.com/news-releases/crypto-company-blockchaincom-moves-us-headquarters-to-miami-301304969.html

After all that has been ongoing in the market recently and reading this kind of thread, it gives serene peace that can not be traded for anything that the future for bitcoin is brighter than we have seen. Many more believe in it and a one-man claim shouldn't be agreed to saying anything otherwise.

An anonymous buyer paid $22.5 million in cryptocurrency for a penthouse in the Arte Surfside luxury condominium located in Miami. This is written by Forbes. The four-bedroom apartment with four bathrooms and a terrace with ocean views is located on the ninth floor. The cost per square foot was $4,440.50.  https://www.forbes.com/sites/petertaylor/2021/06/07/miami-beachs-most-expensive-penthouse-just-sold-in-americas-largest-known-cryptocurrency-real-estate-deal-that-could-change-housing-forever/?sh=42829b8d64a6
According to the publication, this is the most expensive purchase of real estate for digital assets at the moment. It took ten days to close the deal.

The link doesn't work anymore. So here's another link for that news and purchase in Miami.

https://sports.yahoo.com/miami-beach-penthouse-becomes-america-055129932.html

The other link from businessinsider doesn't work and it seems to have the same error as what forbes has. I think that's just temporary and will be fixed soon.

Surely, Miami's citizens are lucky to have such Mayor that is open minded. Majority are aware that in most countries bitcoin is illegal and even prohibited. The government around the world mostly aims to suppress and control cryptocurrency. However, there really are people like this mayor that brings the torch amidst darkness.

It's nice to know that their leader allowed them to pick what form of salary they want to receive. I like the idea of not enclosing the workers choice to the traditional options of payment. However, this has its consequences as well. We are all aware that bitcoin is volatile, hence, its value won't be stable every time. There will be times that bitcoin will be in high position or the other way around. What could possibly their solution if ever bitcoin has went rock bottom? Their workers would be underpaid if ever. I just hope they will lay all the terms and conditions so that it will be fair and square on both parties.

Nonetheless, cheers for having a great leader that strives to give better services and options to his constituents.

Not only Miami, but also Texas promotes the integration of crypto assets into government structures. The Texas Department of Banking has allowed state-owned banks to store cryptocurrencies. This is stated in the notification of the regulator on June 10. https://www.scribd.com/document/511395733/in2021-03#from_embed

https://i.ibb.co/WBwvrf5/2021-06-11-175254.jpg (https://www.scribd.com/document/511395733/in2021-03#from_embed)

These days we've been getting more and more number of positive announcement on cryptocurrency usage. Particularly from the persons who lead countries and state governments. This is a big positive news for the progress of Bitcoin in term of adoption and real-time usage.

Already there were few private corporate networks that pay its employees in terms of bitcoin based on the employees willing to accept. Now a government providing its employees with Bitcoin makes it a progressive statement and could make some positive note on Bitcoin.

It's not new regarding Bitcoin being used as an option for paying salaries, because previously there were several companies that paid employee
salaries with Bitcoin. This kind of thing should be increasingly popularized, so that the Bitcoin adoption process will be faster. And also the leaders of
other countries hopefully there are those who follow in the footsteps of the Miami Mayor, who allowed employees to earn salaries through Bitcoin.
Because for big changes to occur, the decisions of the highest people are very influential. Positive news like this should be spread widely,
to motivate other leaders to do the same.

This is very interesting as in the Philippines, the law is very explicit and clear that salaries paid must be receive in recognized legal tender.

As a general rule, salaries/wages received by an employer can only be by means of legal tender or cash deposits. It cannot be in any way other than what is recognized as legal tender. Hypothetically, in order for this type of suggestion be implemented, there has to be an amendment in our Labor Laws or a resolution viewing bitcoin or other cryptocurrencies as legal tender.

I do hope that the government in our country sees the advantage of having such implementation. Even if the form of payment is explicitly provided for by law, I think it would be better if it is left to the discretion of the employee.

The E11EVEN Hotel and Residences condominium complex from Miami provided an opportunity to make deposits for real estate in cryptocurrency, before announcing its initiative, the company received a down payment for the apartments in digital currency. Within a month, the buyer will pay the second part of the amount. https://www.foxbusiness.com/real-estate/e11even-hotel-and-residences-miami-crypto-deposits-on-condos

Miami and texas are big cities, their regional heads are really great
while many other countries are afraid of the potential of cryptocurrencies, these two cities are "welcome" to cryptocurrencies

It's not easy to make this big decision because there are bound to be a lot of debates and differences of opinion that arise
but these two cities are really great, hope to one day become a citizen of one of these cities :D

True, the government may have to overhaul labor-related laws so that bitcoin is also one of the legal tender for employees. If that happens then I'm pretty sure bitcoin will be much more popular among employees in miami and the government's move will be supported by a large part of the bitcoin community. Patenting the rule regarding bitcoin as a legal tender including paying employee salaries may be a difficult step. Meanwhile, the government's attitude is also quite good in supporting its right to bitcoin.

I wonder if Miami has legalized bitcoin as legal tender before?

Miami Mayor Francis Suarez hopes to attract Chinese government-harassed miners to the city by offering them access to nuclear power. According to Suarez, he has not received specific offers from Chinese enterprises for the extraction of cryptocurrencies, but believes that cheap electricity will force them to transfer capacity. https://www.cnbc.com/2021/06/17/miami-mayor-francis-suarez-trying-to-win-over-chinese-bitcoin-miners.html

https://i.ibb.co/HCMr1Jd/2021-06-18-161237.jpg (https://www.cnbc.com/2021/06/17/miami-mayor-francis-suarez-trying-to-win-over-chinese-bitcoin-miners.html)

The leaders of both Miami and Texas will definitely create big changes in their cities and its all matters of a kind of leadership where great changes can be achieved.

Crypto will be more recognized with this kind of promotion. If all leaders would come out from their comfort zone and would not be afraid of debates or any differences, then crypto will most likely to be adopted soon in the near future.

We expect news like this to accelerate adoption in various sectors and regions. so that there will be more facilities for the use of bitcoin and finally governments in many countries are forced to legalize it. of course this is the first step like elsalvador that can make other parties do not hesitate to use bitcoin

It seems that a lot of state and cities in USA is already adopting or considering bitcoin and I think that Miami doing the work of initiating the movement is pretty cool that they are able to influence the other cities.

If the mayor of Miami allows employees to pay for bitcoin this will increase the demand for crypto. Everyone will be inclined to invest in bitcoin and other countries around the world will support crypto for their development their city will be much improved the deadlines for a number of projects that are currently under construction have been extended and even in the near stages of their implementation it is often seen that the problem with the design of the project has to be changed several times. There are delays in implementation and the cost of the project exceeds the budget.

This is a good way to make an advertisement of Bitcoin actually. Otherwise, there is no need to do such thing as people can already buy some Bitcoin with some amount of their salary.

That's mainly because we have a crypto mining operation setup going on in texas, and that is going to bring a ton of both energy consumption which we all know texas loves very much, but also we will have a new business that pays taxes there. So why wouldn't texas be positive towards crypto?

Let's say you are governor or whatever the highest position in your region is, and someone comes to you and tells you that there are 10+ different companies willing to spend millions of dollars to build a business in your area, it is not an illegal business, and they will pay combined hundreds of thousands of dollars in taxes and hire many people, wouldn't you make life easier for them as well? That is what I am talking about, it is basically a no brainer for texas to make crypto supported and not just allowed, there is a big difference between supporting something and allowing something.

Or if the Philippines were to experience some kind of hyperinflation event, I bet the government might change its stance on that particular law--but hopefully that won't happen.  I'm not sure if there are any such laws in the US, and I'm wondering why your country requires wages to be paid in a legal tender currency.  Any idea?

You might think it's progressive for Miami to be allowing for this, but I've always thought it ludicrous to want to be paid in bitcoin if you had a choice.  And it's not because I'm anti-bitcoin (far from it); it's the damn volatility that makes it such a risk.  The way I see it, if you need bitcoin at every paycheck period it'd be far better to use your fiat and buy it rather than actually getting it in the form of that paycheck.

It's not as though everything you need to buy from day to day (fuel, food, entertainment, etc.) can only be paid for with bitcoin.  In fact, more often than not some things can't be purchased using bitcoin at all, like your utility bills for example.  Wouldn't it be wiser to spend the bad money (fiat) and convert surplus bad money into good money (bitcoin) instead of being basically forced to spend the good money and taking the risk that bitcoin might lower the fiat value of your paycheck?  Call me crazy, but that's how I've always viewed this issue of receiving wages in the form of crypto.

The participants of the election campaign for the post of mayor of New York use the rhetoric about the spread of the bitcoin ecosystem as arguments, so one of the candidates, the leader of the Democratic Party, Eric Adams, gave a brief approval to bitcoin

“We are going to become the center of life science, the center of cybersecurity, the center of self-driving cars, unmanned aerial vehicles, the center of bitcoins.”

Miami mayor has open more great opportunities for bitcoin to be also adopted in some countries. I hope by next months, other countries too would start taking  positive steps on bitcoin just like El Salvador and Miami who were open to bitcoin as a medium of exchange.

Mayor Francis may have been holding bitcoins in his account for a long time just like others would say. But the fact that his whole area is already into bitcoin, then it will create other countries to give bitcoin as a salary for their employees too once this first step will become a successful one.

Great news and will set an example for mayors and other states to implement bitcoin to pay civil servants salaries in Bitcoin and also allow citizens to pay taxes in crypto as Miami Mayor Francis Suarez said and was the first to implement it.
very lucky to have a mayor who really understands his citizens who are most likely bitcoin or other crypto users, hopefully this will be a positive example that will make bitcoin positive and useful for those who use it, and but it must be realized that bitcoin has a volatile nature.

if they already know btc but for the others that doesnt know btc they wont have the chance to try it if not because a mayor introduce it to them .
we need more of this mayor because this remove the doubts of others about btc  .

is your mayor doesnt like that ? our mayor havent done this but they have done other projects that helps us and our country . wait till the users of crypto increases in your country and you can request the same thing . it wont be hard to approved by the mayors

Day after day more and more people migrate or introspect into the virtual life, be it for funny or for earning multiples financial advantages. Therefore, more than never, it's important for seers to pave this road with sustainability supported and based on a legislation which holds positively every possible welcome business source able  to assume this new and unregretable crypto economy.

Naturally digital coins have being stabilished by themselves but the help of the ones who can see very very ahead is the great boom to change an old and overcome financial model focused in itself to rule the world.

Congats Miami, Congrats El Salvador!

The Future has been triggered!!!

What do you really think will happen to bitcoin if they world. Decide today to embrace crypto and focus on its utility value instead of this unnecessary hate here and there by the state and federal government.
China for example is known for always banning crypto at every all time high just to scared people from investing there money which is very discouraging.
If us, China and Russia decided to follow crypto today, believe me, other countries will follow.

They're not known for always banning crypto. They've been used by the media to spread FUD as they've banned ICOs long time ago and whatever the news rotates, it can be fabricated and they've replace some important facts.

I think that they've already did. I remember years ago that Russia did attempted to make their own cryptocurrency but not a CBDC. It's just so confusing which information are correct with the media.

Even though Miami is just one of America's many states, this kind of news shows us how much progress is being made in bitcoin. I'm sure they gave their employees the freedom to choose whether they will accept bitcoin or fiat as their salaries. The declaration saying that the Mayor behind this is planning to spread it into large states in America should give us confidence and make us more eager to keep on holding and investing. El Salvador started it already, imagine that almost every part in America regulates crypto, that will surely make a huge impact on the market price of bitcoin and other altcoins.

Years back Indonesian tea estate owners gave employees the choice of choosing their salaries in terms of bitcoin. During those days the plantation workers were from different locations of the country and from other countries. To minimise the transaction costs through third party services people preferred getting paid in bitcoin. Now more ventures have started providing salaries in terms of bitcoin on demand and on its potential growth.

A little more about the sentiment on the acceptance of bitcoin in the United States, for example, US Senator from Wyoming and bitcoin supporter Cynthia Lummis in an interview with CNBC called for considering bitcoin as a way to diversify retirement and long-term savings. https://www.cnbc.com/2021/06/29/cnbc-transcript-senator-cynthia-lummis-speaks-with-ylan-mui-from-the-cnbc-financial-advisor-summit.html

I think this is good news for BTC and is a new step in the current technology industry, in the future there will be more places accepting BTC and BTC will become popular all over the world, with lands countries ban BTC they will have a different view of BTC and this is good news for BTC.

This is another good news for BTC after the past few days affected by bad news from China, This could be a good step forward for the development of BTC in the future. Will be accepted by many places for payment in BTC moreover, BTC price has rallied $36k again today and after good news like this it will continue to increase

well, i think this is a good start. Slowly governments are accepting bitcoin or cryptocurrencies as mode of payment, such as salary for employees. There is an option for an employee if he/she will keep, invest or exchange it already. But better save and invest it so that it will grow and take profit in the future. I hope more politicians study the benefit of using bitcoin. In the future, this might the next big thing.

well it seems true, but it is very difficult to achieve. as we know that every country has a different view on bitcoin circulation. In some countries such as China and Russia tend to reject bitcoin, while in El Salvador bitcoin has already been legalized.

The mayor pays employees Bitcoin, which is recognition and belief in Bitcoin. The government supports cryptocurrency and uses Bitcoin for daily transactions, which promotes the application of Bitcoin in a wide range of fields. More people can learn about Bitcoin and realize its important impact.
Bitcoin will become more and more popular, and its future development will get better and better.

Using Bitcoin to pay employees' salaries shows the government's recognition of Bitcoin, which has a positive impact on the development of Bitcoin.
When employees obtain Bitcoin, they will trade in their daily lives, increase the circulation of Bitcoin in the market, and make more and more people aware of Bitcoin, which is conducive to the future development of Bitcoin.

- Starting with paying employees in bitcoin is probably still too early at this point because basic education hasn't quite happened yet, some people just know bitcoin will be profitable to hold but without some additional information on risk, monthly salary can be ruined, the price of bitcoin halving also leads to their salary being halved, employees will lose their morale at work and just look at the screen that has a bitcoin chart. Do not encourage a business to make their employees so sluggish, start with a proper teaching and training session

That's a great advancement for Bitcoin but I'm unsure if I'd opt for it if I was given the chance. On the one hand, it could be a great investment opportunity, while on the other hand, it could be disastrous if your likelihood is depending on that salary. It's nice that employees were given such a choice. Especially during this period, where BTC's price is relatively low.

It'll be more interesting to see how many employees actually take this up.  The thing about your job is that you need the pay to live your life, you can't afford to take your salary in a method that is unusable as a currency because you can't pay your rent or or mortgage or buy groceries with it.  I also wouldn't take my salary in bitcoin because there's no telling what it will be worth tomorrow, let alone a week or month from now, so you run a very high risk of losing 10% or more of your pay because the currency devalues. So I'll be interested to see who actually does this.  My expectation is this was just something the mayor did for headlines, but it has to real-world applicability.

They also have the choice not to trade those salaries that they receive. I've read some interviews that the guy was being paid with bitcoin and he doesn't want to spend it.

But as much as he can, he's saving bitcoin because he knows the true potential of it. He's just a common guy but still aware of the risk and the volatility of bitcoin has.

Bitcoin is the earliest popular cryptocurrency. It was accepted by a small number of people to pay employees' salaries with Bitcoin, which is a great recognition of Bitcoin and has a positive impact on the cryptocurrency market.
The government accepts Bitcoin as payment, more people will recognize Bitcoin, which will increase the demand for Bitcoin, and its value will also have a lot of room for growth, which is conducive to the future development of Bitcoin.

If he have that knowledge and enough trust with what this crypto currency may bring him, keeping all or big portions of his payment might bring him the retirement money that he's desiring.

We can say that those who have that idea about this industry, they'll be thankful as the mayor gives them the opportunities to hold good amount of assets that potentially will grow after some time.

Good move if looking in the positive side, this kind of gesture brings more attention to other people who don't have any idea about this market.

If I had to choose which news to have, i would certainly not like to hear that Miami is a pioneer on bitcoin acceptance or implementation. Yet it is impossible that it is not that way, this news only make it official. Miami is one of the drug trafficking centers in the US, not that they are short of hubs for that. Unfortunately, not everything that bitcoin is used for is legal, and in the case of Miami I see adoption as a demonstration of mis-use of bitcoin and probably not what this community needs - even if from the city major.

Paying employees Bitcoin as wages is beneficial to Bitcoin market. The way makes more people to contact and understand Bitcoin, and when they see the benefits of it, they will also actively invest in Bitcoin. It will also increase the consensus and demand for Bitcoin, and at the same time enhance the liquidity of the Bitcoin market, which is conducive to the increase in value.
But there are certain risks to employees. Bitcoin prices are unstable and the market fluctuates greatly, so their assets may rise or fall at any time.

The mayor of Miami, Francis Suarez, appeared on Fox Business to discuss the city's plans for its MiamiCoin cryptocurrency built on the CityCoin platform. The new digital asset is intended to receive funds necessary for the city's economy-if people accept it. https://dailyhodl.com/2021/07/28/bitcoin-capital-of-the-world-aka-miami-gears-up-for-crypto-splash-with-miamicoin/

MiamiCoin has already brought the city of Miami more than $8 million in two months. Mayor Francis Suarez said the project could "revolutionize” the way local programs are funded. Miami's own cryptocurrency was launched in early August and became the first Citycoin token of its kind.  https://decrypt.co/82363/city-centric-crypto-miamicoin-nets-7-8-million-for-city-of-miami

https://miamining.com/mia
https://i.ibb.co/f4rbj3Y/2021-10-01-171415.jpg (https://miamining.com/mia)

Miami Mayor Francis Suarez has announced plans to become the first politician in the US to receive a salary entirely in bitcoin. He said that he would prefer to use Bitwage or Strike applications to convert salaries from fiat to BTC.

Excellent initiative. I would certainly like the option of getting some of my salary in bitcoin directly as opposed to buying it. Another matter would be to actually set that salary in bitcoin in the contract so that you get paid, eg. 2 bitcoin a year instead of 80 or 100k per year. That would really be impossible to assume as the government gets the income in USD and would not take the exchange risk.

Everyone should be able to elect to arrange a pension in some percentage of Bitcoin allocated for the future.

What surprises me here is nobody cares the New York mayor is now announcing he will be paid in Bitcoin and will change the whole cities economy to integrate with Bitcoin.  This is news bigger then El Salvador to me due to the massive amount of commerce potential flowing through NYC every day, its a center of business for the entire country.   I take it as very bullish or are the hands of the Mayor tied as to real change.

I was thinking and wondering about the Mayor of Miami, doing allow payment of salaries for employees with Bitcoin, this of course there should be a change included in the law in Miami, that's for sure.

What I want to ask is:
• Does it apply to areas other than Miami.
• And how did the county respond to the policies of the mayor of miami, did they do the same in particular South Florida or the other way around.
• Of course each county, subject to the central government/president/prime minister, how is the Mayor of Miami in this, whether the central government approves it or vice versa.

What is certain is that what the mayor of miami is doing is good, but from the other side there must be pros and cons, because the relevant government must incur additional costs to send salaries with Bitcoin, and plus the unstable Bitcoin price sometimes goes up and down, if you multiply it by how many employees there are in the miami area, of course the shipping costs are also a lot, it's cons, the smallest.

Well, here is a fresh example, the newly elected mayor of New York, Eric Adams, intends to receive the first three salaries in bitcoin after taking office in January 2022. He answered so directly in a comment to the tweet of Miami Mayor Francis Suarez.

When the mayor said like that, it didn't suprise me because the policy which is implemented will be tried to the leader first. This is an action which push the society's trust to the policy. However, I dont think this will change much things because someone who didn't like the Bitcoin will not change as easy as they think. Need many literations for them to accept the policy happily

Certainly the City of Miami will have a bright promising future in the hands of their current Mayor, because not all Mayors are as bright or didn't even bother to project what the people's need in other city unlike Mr. Suarez.
It's good for the employees either public or private to have the freedom to choose to have their salary in bitcoin or USD (fiat). And indeed it's nice to hear from leaders to be so innovative and implement such options to their countrymen, more and more have already implemented or starting to adapt more about crypto especially bitcoin.

But the Mayor's action certainly have pros and cons, but I know he think it thoroughly before introducing to the public about this. So there's nothing to be worry, let's just be happy for them and hope that it will spread throughout not just in USA but in other countries as well.

New York Mayor Eric Adams, in an interview with CNN, advises local schools to prepare students for a new way of thinking related to blockchain technology and digital assets. The politician noted the low awareness in the field of cryptocurrencies among his young voters.


It seems to me that students themselves can probably already teach teachers the basics of blockchain, although everything can be different everywhere, in any case, the initiative of educational activities in the field of digital technologies benefits the whole society.

There's now a contender that would have the same touch for bitcoin. It's becoming better that there are mayors that are already joining the bitcoin craze.
The mayor of NYC will have his 3 paychecks received in the form of bitcoin. These two mayors are doing a great job.
(https://news.sky.com/story/new-yorks-new-mayor-eric-adams-wants-his-first-three-pay-cheques-in-bitcoin-12460775)

The mayor's policy is a positive supporting issue for the market, but we must realize that not everything that happens can go as it should.  There are many things that they are worried about will happen, for example if the major is not able to manage this technology and control stability just because crypto especially BTC cannot be managed by anyone and is decentralized..

So that with this policy it will be very easy for people to blame the mayor if there is an error in his policy.

Miami Mayor Francis Suarez announced speaking on CoinDesk TV that the city will place bets (i.e. block cryptocurrencies in order to generate income) on most of its native MiamiCoin cryptocurrency in order to generate income in bitcoins. Moreover, he said that Miami will become “the first city in America that will give bitcoin returns as dividends directly to its residents."
Previously, only MiamiCoin owners could receive any kind of crypto income
Now, according to today's announcement, residents will be provided with a bitcoin wallet and they will receive free BTC regardless of whether they own MiamiCoin or not. To participate in the program, Miami residents must install a wallet, register and pass verification. https://decrypt.co/85849/miami-will-start-giving-some-residents-free-bitcoin-mayor-suarez

Suarez himself says starting from 3min 18sec:

This is something very positive because the USA is for a lot the most valuable country of the world economy, the fact that the btc is not yet included represents some delay that cannot occur, only when you see this type of news you can see that the young people themselves are more interested in looking for economic alternatives than adults themselves, and adults are the ones who must innovate in terms of the search for a better economic status.This new economic trend is taking place because BTC is rising in price, I want to see how the reactions will be When the process of Market Distribution occurs, for now everything looks good, but the idea is that according to the price of BTC all these policies continue to be maintained.

Ofcourse the the implementation will be tried and test it to the leaders first to improve the outcome and where should the personal touches are necessary before the employees can have their salaries in bitcoin form. But it's just an option wether they would like to receive it in cash or crypto.
And yes there will be always someone or a group of people who will oppose every law to be implemented and it's not surprising at all. Bitcoin is still new to someone's ears and they need to be informed enough before they change their mind, and if a movement will start and a lot of people are already using it, they will eventually follow the flow.

Salaries paid in Bitcoin will actually help/encourage it become as a medium of exchange for services that don’t require censorship-resitance, like groceries. No would buy Bitcoin just to spend Bitcoin on something that can be purchased through a credit card.

It's definitely progress. How smart it is, is yet to be determined, I would rather see BTC being implemented in other ways than this, at first, because this seems like an abrupt transition. Sure, it will still be voluntarily, but that's a sketchy game to play with BTC volatility and just stinks of the whole putting up my house for mortgage to buy BTC situation we had a couple of years ago.

this is one of the actions based on the policies they said before. and it will certainly be very good when they are recognized and there continues to be a positive movement there.
regardless of people who don't like bitcoin it's a decision they make and we won't be able to do much about it.
giving more knowledge is necessary but if they don't want it then we don't need to force it