Do you know about the first public servant paid in bitcoin ?

[fokinlipat]

His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.

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[freedomgo]

His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.

Based on my computation, he would not become a billionaire, proabably a millionaire.

I dig a bit and look for his name, there was an article that was dated 2013 reported about him getting paid in bitcoin as his salary. So if he continues receiving it, that's 10 years already. But let's judge it based on the fitures, not sure if the salary rate is correct but based on this article below., the "Chief Of Police Salary in Kentucky" is around $80k per month, I rounded it off.

So $80k x 10 years, that's only 800k which is less than a million, so even if we will multiply that by 30 times, that would only reach up to $24 million which is already overstated, so that "billion" never exist.

https://www.cnet.com/tech/services-and-software/kentucky-police-chief-to-be-paid-in-bitcoin/
https://www.ziprecruiter.com/Salaries/Chief-Of-Police-Salary--in-Kentucky#Yearly

[Dripplurd]

His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.

Base on my understanding even if he haven't  sold the bitcoin that he got he wouldn't have become a billionaire despite that he was the only one that is been paid by bitcoin at that 2013,but rather a millionaire because i  think they were just paying him $80k

[lombok]

If you remember that time, it was really lucky that person had Bitcoin. And if he decides it's profitable to hold until now or sell half and keep the rest until now he will still be rich. How much money would he get now if he sold it?

I salute and admire people like this, because they are able to assess the price of Bitcoin and are willing to accept salary payments using Bitcoin.

[airbin]

maybe now it looks like; too bad, but the money worked for what he needed it for, it was his salary, it wasn't extra money, whatever, it's happening right now someone is selling a bitcoin that will be worth 10 or 20 times more in the future.

[Dr.Bitcoin_Strange]

Yea, he sold it because he got paid in Bitcoin, just like we received Fiat as a salary, and probably he could not save anything out of it but use it for some personal needs that he had at the time. It could have been anyone else too; perhaps there were so many people who also bought Bitcoin very cheaply those days but were unable to hold it till the last ATH. In the space of life, some people are faced with different needs and responsibilities, and there is no way they might have been able to keep holding their coin to date, even if they wanted to, but it seems they sold it because it was the only choice they had to make at that time.

[Dave1]

His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.

We have that original thread here in 2013, Tiny Kentucky Town Agrees to Pay Only Police Officer In Bitcoin.

And so he was a police officer, and it was very uncanny for a public servant, specially a law enforcement official losing his belief in fiat system and looking for a alternative like Bitcoin in it's early years.

And he is correct, and let me quote him from that 2013 article:

"I pretty much think it will eventually take over," he said, "or I hope it does."

[ajiz138]

If you remember that time, it was really lucky that person had Bitcoin. And if he decides it's profitable to hold until now or sell half and keep the rest until now he will still be rich. How much money would he get now if he sold it?

I salute and admire people like this, because they are able to assess the price of Bitcoin and are willing to accept salary payments using Bitcoin.

That person did not know that the price of bitcoin would reach its highest price of $68K. they were only aware at that time bitcoin was growing, but not with a price surge many times over maybe they never thought about it, if they knew the future now maybe he would hold, the same thing as an investor who sold at a low price at the time if he knew he would definitely hold...
Let this be a problem then, so now I just know there are companies that pay with bitcoin back in 2013 where at that time bitcoin was not as fast as it is now, then he is really lucky and maybe it will be history for him that will never be forgotten.

[robelneo]

maybe now it looks like; too bad, but the money worked for what he needed it for, it was his salary, it wasn't extra money, whatever, it's happening right now someone is selling a bitcoin that will be worth 10 or 20 times more in the future.

Based on this article

Police Chief Tony Vaughn, who said he will donate his salary to a Vicco Bitcoin account, appeared before the commission last month to request getting his paycheck converted to Bitcoins..

So he is not the one who's actually benefitting from his Bitcoin salary and besides he doesn't need that salary from that job since he owns real estate and does not work to make a living it's the town that's really benefiting from that salary.


https://www.foxnews.com/us/mayor-police-chief-in-struggling-kentucky-coal-town-to-donate-salary-in-bitcoins-to-spur-economy
 

[AmoreJaz]

His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.

We have that original thread here in 2013, Tiny Kentucky Town Agrees to Pay Only Police Officer In Bitcoin.

And so he was a police officer, and it was very uncanny for a public servant, specially a law enforcement official losing his belief in fiat system and looking for a alternative like Bitcoin in it's early years.

And he is correct, and let me quote him from that 2013 article:

"I pretty much think it will eventually take over," he said, "or I hope it does."

though he has such kind of belief, but he still sold it. seems that he needed his fiat at that time but if he did stick to it and not sell, sure, he will be a billionaire today. it goes to show that even if you have strong belief on this market, there are circumstances that you still need to sell because of your financial situation.

[The Cryptovator]

Selling bitcoin is actually a normal procedure. Those who we have been earning right now in Bitcoin are still selling even though we know the potentiality of Bitcoin. Aren't we doing this? Otherwise, who has been selling Bitcoin on the market? If no one sells it, then no one can buy it, so the market will be stuck. Even if I get the salary during that time, I won't hold it till now; it's quite impossible unless I forget about my bitcoin. So Tony Vaughn could even become a millionaire if he holds, but who knows? I am pretty sure he also sold his holdings before seeing a massive pump.

[o48o]

His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.

Far from billionaire, but rich. Although reason people work in the first place, is that they need your salary to pay your bills, buy food and all the necessities, so majority of it isn't invested.
And i remember that fomo time pretty well. After 2014 when it started dropping, almost everyone in this planet would have exited. Bitcoin was new and everyone was laughing at you when you bought ath of that time. I can't remember any media reporting that it would go back up, so it would have taken mixture of crazy and true believer to hold it. Especially when no one could have predicted how high it would go.

[nakamura12]

though he has such kind of belief, but he still sold it. seems that he needed his fiat at that time but if he did stick to it and not sell, sure, he will be a billionaire today. it goes to show that even if you have strong belief on this market, there are circumstances that you still need to sell because of your financial situation.

I think he believes in Bitcoin and sold his Bitcoin maybe he really needs fiat at that time. After all, he work to have money for daily needs. Maybe he does something to his salary like donations and whatever the amountnof BTC he sold is for himself or family. Based on what I read from here, he is aiming for the history where a person in their town received Bitcoin as a salary from a government entity. Well, his salary is already deducted with the tax as what I have read.

[SamReomo]

His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.

I haven't heard about Tony Vaughn before this post but as far a I know that Bitcoin's price was still over $13 a single Bitcoin and if that person might have hold his Bitcoin then he would be a millionaire right now. If we think about that in logical perspective then we get the answer that the guy didn't hold his Bitcoin because he received his Bitcoin as salary and mostly we spend our salary on the things that we like and that guy might has converted his Bitcoin into fiat so he could purchase the things that he needed during those days.

[BitDane]

maybe now it looks like; too bad, but the money worked for what he needed it for, it was his salary, it wasn't extra money, whatever, it's happening right now someone is selling a bitcoin that will be worth 10 or 20 times more in the future.

Based on this article

Police Chief Tony Vaughn, who said he will donate his salary to a Vicco Bitcoin account, appeared before the commission last month to request getting his paycheck converted to Bitcoins..

So he is not the one who's actually benefitting from his Bitcoin salary and besides he doesn't need that salary from that job since he owns real estate and does not work to make a living it's the town that's really benefiting from that salary.


https://www.foxnews.com/us/mayor-police-chief-in-struggling-kentucky-coal-town-to-donate-salary-in-bitcoins-to-spur-economy
 

If that is the case then the earlier replies of discussing that this guy should have profited from the Bitcoin payment if he still holds that bitcoin is for nothing.  Since the payment is donated to some institution, I bet the Bitcoin is instantly converted to fiat the moment the donation touches the said Vicco Bitcoin account.  So no one is getting rich on this salary because it is probably converted real time after the donation is done.

His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.

Far from billionaire, but rich. Although reason people work in the first place, is that they need your salary to pay your bills, buy food and all the necessities, so majority of it isn't invested.
And i remember that fomo time pretty well. After 2014 when it started dropping, almost everyone in this planet would have exited. Bitcoin was new and everyone was laughing at you when you bought ath of that time. I can't remember any media reporting that it would go back up, so it would have taken mixture of crazy and true believer to hold it. Especially when no one could have predicted how high it would go.

It is indeed far from billionaire because the person does not hold the salary received in Bitcoin but rather donated it to the state.  Though I can say the person is already rich even before he decided to accept his salary in Bitcoin.

[Sarah Azhari]

His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.

I am really sure, He probably didn't spare his salary at that time because he had to fulfill his life needs such as bills, food, etc, and maybe if he really saved his BTC, that is possible a only few satoshis left on his wallet. because BTC price movements would make people tempted to sell it. Maybe we can equalize Tony Vaughn with signature participant who got payment with btc, because there are many necessities for life, they might sell some, and set aside some. But I am really sure, some of them will sell everything if BTC price back to ATH or more than the previous price. because there are still many people still compare BTC with fiat.

[Darker45]

I haven't heard of this news. Thanks for sharing!

Well, what can I say? This news sounds cute. A town with only 330 people, a police chief who requested that his salary be paid in Bitcoin, and a city commission approving it. That sounds really fun.

In 2013, not many people have heard of Bitcoin. But it seems to me Chief Vaughn didn't have much work to do that he probably had a lot of time to update himself with what's new. He probably studied it deeply to the point that he even requested that he be paid in Bitcoin.

Did Vicco have a nerdy police chief? LOL!

[bayu7adi]

I haven't heard about Tony Vaughn before this post but as far a I know that Bitcoin's price was still over $13 a single Bitcoin and if that person might have hold his Bitcoin then he would be a millionaire right now. If we think about that in logical perspective then we get the answer that the guy didn't hold his Bitcoin because he received his Bitcoin as salary and mostly we spend our salary on the things that we like and that guy might has converted his Bitcoin into fiat so he could purchase the things that he needed during those days.

Based on some news I read, Tony got his salary in Bitcoin when its price was $1,181 on the Mt Gox exchange. It's true that back then, the price of Bitcoin had a really big jump, and this event from a decade ago actually made a lot of people talk about Bitcoin. In early January 2013, the price of Bitcoin was about $13, and later in Q4 2013, it reached its highest price at $1,000.

So, to sum it up, the experiment of receiving a salary in Bitcoin started during a time when Bitcoin was doing really well in the market. This was partly because of something called "halving" in November 2012... and usually, in experiments like this, salary payments weren't done many times... maybe just once or twice. So, I don't think Tony Vaughn became a big millionaire from his salary back then unless he held onto his Bitcoin until now.

Personally, I'm not a fan of discussions about regrets, like "if you didn't sell coin A a few years ago, you could be a billionaire by now." It's better for people not to dwell on their regrets and focus on the future. Bringing up past experiences that sound like big mistakes is not really ethical.

[LogitechMouse]

His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.

Well, it's his salary, and we are working because we have daily needs. It's his salary, so he doesn't have any choice but to sell it.

Another one is we are always thinking of "If he holds it for X number of years." or "He must've been rich by now if he held it." I mean let's face the reality guys. Do we know at that time that the price of Bitcoin will be reaching its current price right now?

In the end, it's only a matter of trust, and if we need it or not. I've been in signature campaigns for years already, and most of my earnings are converted because a portion of it is being used for some monthly needs of our home. I also used I guess around 0.08 BTC to build my own computer. Just imagine how much it would be if I chose to hold it until now. I can't imagine how many BTC I already converted into fiat.

I guess let's forget about this "He would've..." or "He must've been..." things right now because we don't know what can happen in the future.

[BlackBoss_]

His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.

How much did he get in 2013?

It is important because it relates to how many bitcoins he received from his salary in 2013. The more importance is did he hold his bitcoins in the last 11 years?

If in 2013, he received it but sold it to get cash, he no longer have bitcoins to sell in 2017, 2021 or today in 2023. Very few people can hold their coins long enough and if it is from 2013, it's harder to hold over many years with many fud for 10 years.