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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: 0, Interesting) by Anonymous Coward on Saturday November 06 2021, @04:47AM (1 child)

    by Anonymous Coward on Saturday November 06 2021, @04:47AM (#1193958)

    you should be dismayed at how much energy it takes to do a single Bitcoin transaction.

    False.
    In one BTC transaction, that's everything (funds withdrawn & deposited, proof of receipt, etc). One Visa or cash transaction is only a part of the whole process:
    Bitcoin Energy Consumption Is Far More Efficient and Greener Than Today's Banking System [bitcoin.com]

    ...fail to recognize the cost to maintain today’s banking system, which consists of a great number of terawatts dedicated to servers, branches, and automated teller machines.

    Also, how much energy is used by: All the armored trucks in the world driving around everyday; printing currency & minting coins; credit card companies' office buildings; workers commuting everyday.

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  • (Score: 1, Informative) by Anonymous Coward on Saturday November 06 2021, @09:26AM

    by Anonymous Coward on Saturday November 06 2021, @09:26AM (#1194004)

    You need to read this comment - https://soylentnews.org/comments.pl?noupdate=1&sid=45863&page=1&cid=1193709#commentwrap [soylentnews.org]

    In short, you're either very ignorant, or you're lying. Bitcoin transactions are energy intensive, more energy intensive than credit card transactions, and far more energy intensive than buying with cash.