Next U.S. Crypto Center?

[Wimex]

Austin, the capital of the state of Texas, has reluctantly taken the big interest in cryptocurrencies and blockchain technology. It's well known that about a year ago, Texas has had a desire to lead the way for crypto innovation when Gov. Greg Abbot tweeted that he is a "supporter of the crypto bill proposal." This led the city to take additional steps to ensure the acceptance of cryptocurrency for city services.

On March 9, 2022, Austin City Councilwoman Mackenzie Kelly filed a resolution to direct the Austin City Manager to study potential cryptocurrency use cases for the benefit of Austin and its residents. The resolution specifically indicates that the city manager examine how the city could adopt Bitcoin and other cryptocurrencies for financial transactions.

Innovative cities across the United States are vying to become the next hot spot for cryptocurrency and blockchain adoption, Miami was the first city to adopt its own share of CityCoins last year. New York City has also been well praised as a crypto-friendly city by implementing educational initiatives and with Mayor Eric Adams receiving his BTC paycheck made in January of this year.

What will be the next city to adopt this initiative? What do you think?


Source: https://cointelegraph.com/news/is-austin-the-next-us-crypto-hub-officials-approve-blockchain-resolutions

[Fundamentals Of]

Sooner or later every state, town, and city will be a crypto place. Bitcoin is moving probably faster than previously imagined. Who would have thought years ago that there would actually be a country that will accept Bitcoin as a legal tender? Who would have thought that the likes of Miami and New York would become Bitcoin cities? Now there seems to be a race as to which city will be the first to become the Bitcoin center in the world. I'm getting more and more excited of Bitcoin's future.

[Ale88]

What will be the next city to adopt this initiative? What do you think?

I'm actually pretty surprised that it looks like California is not doing anything about bitcoin, with the Silicon Valley and all the big companies headquarters I was expecting something and instead I don't recall any news about cryptos in Los Angeles, San Francisco, etc.

It will be interesting to see what's gonna happen especially in Miami.

[HODLN]

What will be the next city to adopt this initiative? What do you think?

I'm actually pretty surprised that it looks like California is not doing anything about bitcoin, with the Silicon Valley and all the big companies headquarters I was expecting something and instead I don't recall any news about cryptos in Los Angeles, San Francisco, etc.

It will be interesting to see what's gonna happen especially in Miami.

Increasingly it appears that the revolutionary technology of Silicon Valley has stopped becoming revolutionary, it has become the mainstream standard- not the oddball. I would expect the trend of other non-Californian but heavily tech-invested cities (like Austin) to become new epicenters for cryptocurrency moving forward.

[franky1]

in a world of remote working and volunteer led open source, there does not need to be a physical location centrally.

only picking texas talent or paying people to move homes is not good business either.

what i would deem as a 'crypto city' is not where all the exchanges have office space. but instead where all the retailers on main street accept debit card and crypto, as the norm

[Pmalek]

I think Texas became one of the go-to cities for Chinese miners following the Bitcoin mining ban in China because of their friendly stance towards crypto. I remember reading about it at the time. Texas has a favorable climate, which makes it suitable to use renewable energy such as solar and wind to mine bitcoins. Their energy prices are also among the cheapest in the States apparently. So they have a lot of going for them in terms of becoming a crypto center like the title of this thread says.

[Yaunfitda]

What will be the next city to adopt this initiative? What do you think?

I'm actually pretty surprised that it looks like California is not doing anything about bitcoin, with the Silicon Valley and all the big companies headquarters I was expecting something and instead I don't recall any news about cryptos in Los Angeles, San Francisco, etc.

It will be interesting to see what's gonna happen especially in Miami.

If I'm not mistaken there is a bill introduced to make bitcoin a legal tender in California, authored by R-Jordan Cunningham:

Existing law generally prohibits a person from engaging in the business of money transmission without a license from the Commissioner of Business Oversight. Existing law defines money transmission as selling or issuing payment instruments, selling or issuing stored value, and receiving money for transmission. Existing law, the Uniform Commercial Code, among other things, regulates the issuance and transfer of securities and prescribes rules pursuant to which entitlements for securities held by a securities intermediary are to be determined. Existing law prohibits a corporation, social purpose corporation, association, or individual from issuing or putting in circulation, as money, anything but the lawful money of the United States.
This bill would authorize a private or public entity in the state to accept virtual currency, as defined, as a method of payment for the provision of any good or service, including any governmental service. The bill would define public entity for these purposes to include the state and every state entity, including the Legislature, the judicial branch, the University of California, and the California State University, and a political subdivision of the state, including a city, county, city and county, charter city, charter county, school district, community college district, joint powers authority, joint powers agency, and any public agency, authority, board, commission, or district.

https://fastdemocracy.com/bill-search/ca/20212022/bills/CAB00025753/

They don't want to be late, as there could be states around them making bitcoin and crypto more friendly. But we will have to see how this bill will go though, or will there be some objectives regarding this bill.

[yazher]

Sooner or later every state, town, and city will be a crypto place. Bitcoin is moving probably faster than previously imagined. Who would have thought years ago that there would actually be a country that will accept Bitcoin as a legal tender? Who would have thought that the likes of Miami and New York would become Bitcoin cities? Now there seems to be a race as to which city will be the first to become the Bitcoin center in the world. I'm getting more and more excited of Bitcoin's future.

Absolutely no one would have thought that we will have come this far after less than 20 years of the financial revolution. I think the next years to come are the best years for bitcoin recognition and implementation as other countries are also planning to legalize it after what they saw in the Russian-Ukraine war. They know now how important to have a crypto wallet that you are the only one who knows about it and you can get away with all of your crypto assets without bringing with your bags of cash.

[Nivia1st]

One of the reasons why crypto is booming there is because of the inflation effect. This is the basis for Americans to prefer crypto and encourage the government to adopt it. So it's normal that US will become the first developed country to legalize bitcoin and other countries will follow suit. plus recently biden issued a special order on crypto. It's like crypto being pushed for adoption.

[Ale88]

One of the reasons why crypto is booming there is because of the inflation effect. This is the basis for Americans to prefer crypto and encourage the government to adopt it. So it's normal that US will become the first developed country to legalize bitcoin and other countries will follow suit. plus recently biden issued a special order on crypto. It's like crypto being pushed for adoption.

Don't underestimate Switzerland, they know for sure how to make money using someone else's money The city of Lugano is already working in this direction, so the rest of the country could follow along shortly. And managing this kind of changes in a small country, such as Switzerland, it's way easier than doing it in big countries like the US.

[Zilon]

Bitcoin adoption is massively spreading. I think all bitcoin needs from it's investors at the moment is patience to hodl even when the market is reddishly bear. In the near future other strict countries will see the importance of bitcoin as a technology, a currency , a store of value and even point of service. This point of service is where i would love bitcoin to have more use

[romero121]

One of the reasons why crypto is booming there is because of the inflation effect. This is the basis for Americans to prefer crypto and encourage the government to adopt it. So it's normal that US will become the first developed country to legalize bitcoin and other countries will follow suit. plus recently biden issued a special order on crypto. It's like crypto being pushed for adoption.

Don't underestimate Switzerland, they know for sure how to make money using someone else's money The city of Lugano is already working in this direction, so the rest of the country could follow along shortly. And managing this kind of changes in a small country, such as Switzerland, it's way easier than doing it in big countries like the US.

Already Switzerland is well known for its financial services. It is an easy to do thing for Switzerland than USA for some reasons like the population and the process involved. Even before the existence of bitcoin Swiss banks were popular for its anonymous service on banking and finance management. It is the country that regulated and approved cryptocurrency related services prior to most other countries. This way Switzerland is more a crypto friendly country. Apart from this Switzerland holds the best banking prowess, low tax, quality education which all could make it a crypto center.

[verita1]

Austin has everything to become a global crypto hub.
In 2014 it opened the first bitcoin ATM in the U.S,
https://techcrunch.com/2014/02/19/the-first-bitcoin-atm-in-the-us-is-opening-in-austin-texas/
embracing bitcoin miners this year and now approving Tax payments in Bitcoin.
I believe that this model of bitcoin adoption will continue in the nation. I also think that the main capitals of the world will find in bitcoin how to take advantage of technology, time teaches us that we must give way to it to provide faster and more accurate solutions.
It's happening! BTC
It is what we were waiting for and we can already feel that there is confidence in bitcoin.

[TahuDiniHari]

I see this as a positive thing, for the crypto world. Austin is a big city in the United States of America, the patterns and concepts that the authorities have carried out there, show a very well-organized seriousness, If other cities will imitate this step, there may be some differences in implementing crypto, just stay focused on continuing to develop and use it. crypto as an alternative means of payment or investment.