Miami Mayor Says Plan Advancing to Pay City Employees in Bitcoin

[RandySF]

Miami Mayor Francis Suarez said it’s “a major priority” for the city to be able to pay government employees in Bitcoin. “I want us to differentiate ourselves as a crypto capital of the United States or of the world,” Suarez said Tuesday in an interview with Bloomberg Technology’s Emily Chang.

Miami will issue a request for proposal this month to help create that payment mechanism, and to let city residents pay fees -- and potentially even taxes -- in Bitcoin.

In Febuary, Suarez brought a broader proposal before city commissioners to allow Miami to invest its own funds in Bitcoin, but Florida statutes don’t currently allow local governments to hold such volatile assets. Suarez parried a question about whether he was lobbying Tallahassee for a change.

“If we would’ve been able to hold it from the moment that I put the resolution on our agenda, it’d be up by 30 or 40 percent, so I would’ve looked like a genius back then,” he said. “But that’s the way it works.” In reality, Bitcoin increased about 20% since Suarez’s February proposal.





https://www.bloomberg.com/news/articles/2021-10-12/miami-mayor-says-plan-advancing-to-pay-city-employees-in-bitcoin?utm_source=twitter&utm_medium=social&utm_content=politics&utm_campaign=socialflow-organic&cmpid%3D=socialflow-twitter-politics

[joetheman]

1. Can't get hem to take vaccine but they are willing to be paid in Bitcoin??

Wonder how that is going to work out?

[RandySF]

2. A lot of anti-vaxxers love crypto.

[sop]

3. So, Suarez wants Miami to become the "crypto capital of the United States or of the world"?

Given Miami's long history of government corruption, this means he's looking for hefty campaign contributions from the crypto currency crowd.

[mia]

8. Well said.

Bitcoin is too risky and Suarez is naive.

He's also trying to deflect attention away from the current theatrics involved with the firing of its police chief, Art Acevedo. He found out that Miami is rife with corruption, and several of the city commissioners want to cover it up.

[gldstwmn]

17. AKA cartels.

[rockfordfile]

4. Sounds like a Russian puppet.

[FakeNoose]

5. Oh my Lord! What a major mistake

I have no dog in this hunt because I don't live in Florida, nor am I a city employee in Miami. But paying employees in bitcoin is just bizarre and dangerous.

[former9thward]

10. Its the employees choice.

No one is making them do it.

[2naSalit]

6. Geeze, what could go wrong?

[BeckyDem]

7. Noooooooooooooo

Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent.
https://www.cnbc.com/2019/05/02/joseph-stiglitz-we-should-shutdown-the-cryptocurrencies.html

[brooklynite]

13. And my wife is working at Treasury to make them more transparent.

[BlueIdaho]

9. This is the stupidest fucking idea I've heard in a long time.

This guy is an idiot and anyone who takes Bitcoin as a currency is a fool.

[dweller]

11. So ... will the IRS be able to see

all accounts of $600 or more?
🤔






✌🏻

[gratuitous]

12. Invest in bitcoin? Dutch tulips getting too pricey?

Protect the servers with corbomite, maybe?

[keithbvadu2]

14. Sounds unreliable.

Last edited Wed Oct 13, 2021, 07:36 PM - Edit history (1)

You get paid in Bitcoin according to its value in dollars on payday. Or the value 3 days before payday when the payroll is computed. Then the next day it's value goes way up or way down. It's going to really suck when the value goes down.

[Scurrilous]

15. Suarez is a clown.

Maybe he can pay his lawyers in bitcoin when the feds catch up w/ him.

[gldstwmn]

16. Gee, why would Miami want to legitimize an untraceable

currency?

[struggle4progress]

18. "You can even use your bitcoins to buy bridges in New York!"