Miami Mayor Will Allow Employee salaries in Bitcoin

[iv4n]

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!

[sniveel]

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.

[Deddyhoku]

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

[Koro-Sensei]

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.

[Daltonik]

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

"Part of the problem with bitcoin is that 90% of mining is not in the United States, but in countries with "dirty energy". This is the reason why Bitcoin mining is considered a dirty business. We have nuclear energy, which means clean energy, which is practically unlimited"

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.

[Kong Hey Pakboy]

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.

[Mauser]

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.

[conected]

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

[TedMosby]

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.

[CaVO32]

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.

[uneng]

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.

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.

[nicecrypto]

Mayor Francis Suarez in an interview with Forbes shared plans to expand the use of bitcoin in Miami, which includes the possibility of paying salaries to city employees in bitcoins.

Miami’s mayor, Mayor Francis Suarez, has been busy adding a personalized touch in trying to bring tech entrepreneurs to Miami. Striving to combine the financial elements of New York City and the technology character of San Francisco into a South Florida finance and tech oasis, the mayor is bringing a different attitude and policy outlook on innovation. Among one of the many areas this vision affects is bitcoin — something he believes, in an interview with Forbes, will be the “biggest story of the next few years.”

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, 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 stylerules for bitcoin.

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

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.

[casperBGD]

~snip
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?

[slapper]

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.

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

[Kittygalore]

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.

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.

[Fortify]

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.

[manul888]

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.

[ultrloa]

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.

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.

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.

[EclaireWithLove]

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 as well? I mean the salary can be paid with stocks?

[Clairvoyance]

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

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, 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 rules for bitcoin.

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.

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.