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New York City Mayor-Elect Says He'll Take His First Three Paychecks in Bitcoin

posted by martyb on Friday November 05 2021, @05:20AM   Printer-friendly
from the gonna-need-more-power-plants dept.

upstart writes:

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.

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  • (Score: 1, Troll) by Anonymous Coward on Friday November 05 2021, @08:02AM (4 children)

    by Anonymous Coward on Friday November 05 2021, @08:02AM (#1193628)

    https://www.merriam-webster.com/dictionary/industry [merriam-webster.com]

    Essential Meaning of industry
    1 : the process of making products by using machinery and factories He favors policies that promote industry.
    2 : a group of businesses that provide a particular product or service the automobile/oil/computer industry

    How TF is Ponzi-fake-money an industry?

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  • (Score: 2, Touché) by Mockingbird on Friday November 05 2021, @08:42AM

    by Mockingbird (15239) on Friday November 05 2021, @08:42AM (#1193629) Journal

    Bit-coins has fungible tangibility, it's what plants crave!

  • (Score: 4, Informative) by FatPhil on Friday November 05 2021, @09:09AM (1 child)

    by FatPhil (863) <{pc-soylent} {at} {asdf.fi}> on Friday November 05 2021, @09:09AM (#1193634) Homepage
    Tilling a field by hand/ox used to be industry, though not one machine or factory was involved. Words change meanings over time.
    The origin of the word implies hard work (top tip - industrious ants don't use machines either), and what could be more hard work than PoW crypto mining?
    --
    Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves

    • (Score: 0) by Anonymous Coward on Friday November 05 2021, @10:42AM

      by Anonymous Coward on Friday November 05 2021, @10:42AM (#1193652)
      What do you think a stick for hoeing is? It's a simple machine, specifically a class 3 or class 1 depending on how it's held.

  • (Score: 2) by mcgrew on Saturday November 06 2021, @01:12PM

    by mcgrew (701) <publish@mcgrewbooks.com> on Saturday November 06 2021, @01:12PM (#1194080) Homepage Journal

    Odd (or not) how you didn't add the third item listed in your link:

    "3: the habit of working hard and steadily"

    However, that still doesn't make bitcoin "industry".

    --
    Carbon, The only element in the known universe to ever gain sentience