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New York City mayor-elect says he'll take his first three paychecks in Bitcoin:
Spurred by a tweet from the mayor of Miami, New York City Mayor-elect Eric Adams told followers Thursday that he plans to take his first three mayoral paychecks in Bitcoin.
"NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries," Adams tweeted. "Just wait!
It's a high-profile embrace of digital currency at a time when regulators in the US, including in New York City, are heightening scrutiny of cryptocurrency exchanges. Last month, New York state Attorney General Letitia James asked two lending platforms to cease activities after winning a court order forcing the closure of the cryptocurrency exchange Coinseed.
NYC Mayor-elect vows to take first salary payments in Bitcoin:
“NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries,” he said on Twitter on Thursday.
In New York we always go big, so I’m going to take my first THREE paychecks in Bitcoin when I become mayor. NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!
— Eric Adams (@ericadamsfornyc) November 4, 2021
Adams, a Democrat, has said he wanted to turn New York into a crypto-friendly city and that he wants to explore a NYC Coin similar to Miami’s. In an interview on Bloomberg Radio after being elected mayor on Nov. 2, he wagered a “friendly competition” with the mayor of Miami, who was the first to set up a so-called CityCoin cryptocurrency.
(Score: 3, Touché) by Rosco P. Coltrane on Friday November 05 2021, @06:14AM (18 children)
When elected officials get suckered into get-rich schemes that are bound to come crashing down and promote them.
(Score: 5, Interesting) by FatPhil on Friday November 05 2021, @09:05AM (9 children)
There's a fine line between clever and stupid.
Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
(Score: 1, Interesting) by Anonymous Coward on Friday November 05 2021, @10:15AM (7 children)
(Score: 0) by Anonymous Coward on Friday November 05 2021, @12:07PM (3 children)
The cryptoshit is treated by IRS as property for tax purposes, same as collectibles (coins, stamps, vintage cars, etc). Go check it out
(Score: -1, Troll) by Anonymous Coward on Friday November 05 2021, @05:04PM
What kind of dumb ass slave thinks the IRS and the international bankster cartel is legit, while calling all cryptocurrency shit? Surely pays the federal income tax like a good little Goy.
(Score: 0) by Anonymous Coward on Monday November 08 2021, @12:22AM (1 child)
Not same. It's regular property with ST/LT gains and not in the flat 28% punitive collectibles category.
(Score: 0) by Anonymous Coward on Monday November 08 2021, @06:05AM
Correction: Collectibles (as other property) are taxed at regular income tax rates if the holding period was "short".
(Score: 2) by HammeredGlass on Friday November 05 2021, @12:53PM (2 children)
"There's no income tax on capital gains."
Yet.
Democrats introduced a bill to do just that recently.
Yes, yes, it's ONLY for billionaires, for now.
(Score: 2, Touché) by nitehawk214 on Friday November 05 2021, @02:05PM (1 child)
Simpin' for billionaires.
"Don't you ever miss the days when you used to be nostalgic?" -Loiosh
(Score: 2) by HammeredGlass on Saturday November 06 2021, @03:01PM
With the appraised market value of house prices going through the roof, having my real estate asset turn me into a "millionaire" is an easy step that wouldn't actually reflect my true tax bracket.
(Score: 2) by JoeMerchant on Friday November 05 2021, @02:40PM
How many years ago was it that NYC was specifically regulating against Bitcoin and then all cryptocurrency trading in the city? Less than 10, I'm sure.
Україна досі не є частиною Росії Слава Україні🌻 https://news.stanford.edu/2023/02/17/will-russia-ukraine-war-end
(Score: 2) by isostatic on Friday November 05 2021, @10:39AM
Alas I remember laughing at my father in laws friends, who are all thinck as two short planks, fall for every scam going, and were all buying bitcoin in December 2017. "It's a massive pump and it's worth nowhere near that, you're throwing your money away"
Buying $10k of bitcoin at that peak would have made $20k profit if sold today.
(Score: 0) by Anonymous Coward on Friday November 05 2021, @08:47PM (4 children)
He's just copycatting the mayor of Miami [bloomberg.com].
And it's a stunt.
Adams was blathering on about how NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries," [cbsnews.com]
Which just goes to show he doesn't understand what *decentralized* means.
It's actually kind of humorous. Except he's going to be my mayor soon. Then again, he's bound to be an improvement on deBlasio. Who was an improvement on Bloomberg, who was a (minor) improvement on Jackass Guiliani.
(Score: 2) by Phoenix666 on Saturday November 06 2021, @08:55AM (3 children)
DeBlasio was no improvement on Bloomberg. He was significantly worse in every area. People who ran non-profits in the city waxed nostalgic for Bloomberg because deBlasio screwed up the contracting process so badly. DeBlasio also reversed key policies that made New York one of the cleanest and safest cities in the country. His decision to shut down city schools at the start of the coronavirus has caused a mass exodus of families out of the area; One school two blocks away from our apartment in Brooklyn lost more than 30% of its students overnight and the school had to, accordingly, lay off 30% of its teachers. DeBlasio's shutdowns of hospitality and entertainment industries has slaughtered small businesses by the scads.
In fact, a person could go so far as to say that deBlasio has been the virus.
I don't have much of an opinion of Adams because borough presidents don't have any power and don't do a whole heck of a lot, but in the very few things he has said and done in my interactions with him while I was serving on a school board seemed reasonable and phlegmatic. Maybe he'll do better than deBlasio. But with the village idiot Brad Lander as Comptroller things don't look good for NYC.
Washington DC delenda est.
(Score: 2) by Runaway1956 on Saturday November 06 2021, @09:15AM (1 child)
New Yorkers have a long history of electing scum-sucking bottom feeders to office.
Abortion is the number one killed of children in the United States.
(Score: 2) by Phoenix666 on Saturday November 06 2021, @06:46PM
That is true, but it is not an uninterrupted history. Giuliani cleaned up crime in the city, despite being a humorless schmuck. Bloomberg ran the city well, despite being a patrician who didn't like it when the plebs embarrassed him.
Eliot Spitzer did a good job tackling excess on Wall Street before he flamed out with the escort service. Preet Bharara did a decent job filling those shoes before Trump fired him.
NYC is a city of fiefdoms and rampant corruption that is primarily run by organized crime syndicates like Goldman Sachs and various real estate moguls.
Washington DC delenda est.
(Score: 0) by Anonymous Coward on Saturday November 06 2021, @01:16PM
AC you replied to here.
deBlasio is certainly not the sharpest knife in the drawer. I might even go so far as to say he was on a par with "Ed Koch, your mayor!"
However, Bloomberg lost *any* respect I had for him when he conspired with the city council to blatantly disregard the *multiple* overwhelming votes of New Yorkers and give himself a third term.
I (as well as a majority of NYC voters) *repeatedly* voted to limit the Mayor to two terms.
Bloomberg ignored the democratic (small 'd') will of the people to allow himself to run for a third term, then spent $109 million to get himself re-elected. Even so, he *barely* beat Bill Thompson, 50.7% to 46,3%, who he outspent 11 to 1.
Bloomberg was (and I assume, still is) an anti-democratic (again, small 'd'), egocentric little Napoleon who deserves nothing but derision and scorn.
So yes. deBlasio wasn't a very good mayor. But Bloomberg is in a scumbag class all by himself.
(Score: 2) by mcgrew on Saturday November 06 2021, @01:08PM (1 child)
Bitcoin is great for making bribes, taking bribes, blackmail, all sorts of illicit activities. Can someone point to a a valid use for this nonsense "money" that doesn't involve illegality?
Carbon, The only element in the known universe to ever gain sentience
(Score: 0) by Anonymous Coward on Saturday November 06 2021, @07:30PM
stfu, you dumb bitch