[2021-10-5] New York's next mayor wants to be paid in Bitcoin

PrimeNumber7

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Quote from: DaveF on December 11, 2021, 08:04:39 AM

Quote from: bbc.reporter on December 09, 2021, 08:01:47 PM

Quote from: NeuroticFish on November 09, 2021, 03:51:00 AM

It's only a few paychecks. It gives a public signal, a pretty important one, but it's really only for the show, not a full commitment. I.e. when something goes wrong, like price falling, the damage is no that big and selling is a very easy option that won't need publicity.

Politicians are very good in larping. They will larp for anything if they speculate that it will give them more votes, give more budget for their political campaigns or if it would make them millions. However, wait for the federal government to begin their campaign against bitcoin and the cryptospace and watch these larpers’ reactions. Will they fight for bitcoin?

Considering that all of the financial markets in NYC and the influence that NYC banking and markets have to federal regulation I see it the other way. If it was a small city in the middle of nowhere then that's a different story.

NYC = Largest city economy in the US, PRO BTC
LA = 2nd largest city economy in the US, PRO BTC
Chicago = 3nd largest city economy in the US, no idea, never heard any politician from there talk about it.
San Francisco / Bay area = 4th largest city economy in the US, PRO BTC

Will there be a fight for more regulation from the feds, probably. Will the feds try to ban it, no, not with that kind of money (read tax base) behind it.

-Dave

Those city’s economies are the biggest because of private employers, not their governments. You are citing government support for crypto, not private support. I might also note that all those cities have single party rule, so supporting extreme policies is not necessarily a political risk (not that supporting crypto is a radical policy).

I would be more interested if major companies started supporting crypto

DaveF

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Quote from: bbc.reporter on December 09, 2021, 08:01:47 PM

Quote from: NeuroticFish on November 09, 2021, 03:51:00 AM

It's only a few paychecks. It gives a public signal, a pretty important one, but it's really only for the show, not a full commitment. I.e. when something goes wrong, like price falling, the damage is no that big and selling is a very easy option that won't need publicity.

Politicians are very good in larping. They will larp for anything if they speculate that it will give them more votes, give more budget for their political campaigns or if it would make them millions. However, wait for the federal government to begin their campaign against bitcoin and the cryptospace and watch these larpers’ reactions. Will they fight for bitcoin?

Considering that all of the financial markets in NYC and the influence that NYC banking and markets have to federal regulation I see it the other way. If it was a small city in the middle of nowhere then that's a different story.

NYC = Largest city economy in the US, PRO BTC
LA = 2nd largest city economy in the US, PRO BTC
Chicago = 3nd largest city economy in the US, no idea, never heard any politician from there talk about it.
San Francisco / Bay area = 4th largest city economy in the US, PRO BTC

Will there be a fight for more regulation from the feds, probably. Will the feds try to ban it, no, not with that kind of money (read tax base) behind it.

-Dave

stomachgrowls

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Quote from: bbc.reporter on December 09, 2021, 08:01:47 PM

Quote from: NeuroticFish on November 09, 2021, 03:51:00 AM

It's only a few paychecks. It gives a public signal, a pretty important one, but it's really only for the show, not a full commitment. I.e. when something goes wrong, like price falling, the damage is no that big and selling is a very easy option that won't need publicity.

Politicians are very good in larping. They will larp for anything if they speculate that it will give them more votes, give more budget for their political campaigns or if it would make them millions. However, wait for the federal government to begin their campaign against bitcoin and the cryptospace and watch these larpers’ reactions. Will they fight for bitcoin?

Direct to the point and its always be like this and i agree on that larpers word description lol. They do try up something which they do seem to be beneficial for them and once they do see potential problems or headaches then they would simply abandon ship and goes back on their previous track
where it do looks that theres nothing happened.

When there are some potential benefits then they would just simply grab on it and deal with it but expect that they would really be making
opposition when legal means will really be getting involved.

bbc.reporter

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Quote from: NeuroticFish on November 09, 2021, 03:51:00 AM

It's only a few paychecks. It gives a public signal, a pretty important one, but it's really only for the show, not a full commitment. I.e. when something goes wrong, like price falling, the damage is no that big and selling is a very easy option that won't need publicity.

Politicians are very good in larping. They will larp for anything if they speculate that it will give them more votes, give more budget for their political campaigns or if it would make them millions. However, wait for the federal government to begin their campaign against bitcoin and the cryptospace and watch these larpers’ reactions. Will they fight for bitcoin?

Sirait

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Quote from: Kakmakr on December 05, 2021, 03:41:15 AM

Well, he said this... " New York City Mayor-Elect Eric Adams said he wanted to turn New York into a crypto-friendly city and wagered a “friendly competition” with the mayor of Miami, who was the first to set up a so-called CityCoin cryptocurrency. " - So his aim is not to promote Bitcoin, but rather some shitcoin like "MiamiCoin" Roll Eyes

He will face some strong pushback from the old Fiat slaves in New York, because it is the bastion of the traditional Fiat system. (NY Stock exchange) ....and the barrier to entry of the Bit License. Roll Eyes

if that's the main goal, then he only uses bitcoin to increase the prestige of miamicoin. I see miamicoin has no significant development, https://www.coingecko.com/id/koin_koin/miamicoin#markets. really going to be another shitcoin. Cheesy

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Well, he said this... " New York City Mayor-Elect Eric Adams said he wanted to turn New York into a crypto-friendly city and wagered a “friendly competition” with the mayor of Miami, who was the first to set up a so-called CityCoin cryptocurrency. " - So his aim is not to promote Bitcoin, but rather some shitcoin like "MiamiCoin" Roll Eyes

He will face some strong pushback from the old Fiat slaves in New York, because it is the bastion of the traditional Fiat system. (NY Stock exchange) ....and the barrier to entry of the Bit License. Roll Eyes

NeuroticFish

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It's only a few paychecks. It gives a public signal, a pretty important one, but it's really only for the show, not a full commitment. I.e. when something goes wrong, like price falling, the damage is no that big and selling is a very easy option that won't need publicity.

LeGaulois

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Only for the first 3 months.

Just enough to create a small buzz on media platforms during some days/weeks. Like Greta Thunberg says "it's bla bla bla" Cheesy

Why not put his money where his mouth is if he really wants to be 'an example for others?
Yeah, I know, 'better than nothing could be said but he said "Just wait and see", NY will become the center of the cryptocurrency industry. I am waiting to see concrete actions and not just words

By the way, off-topic, but are we talking about the black guy that mainstream media bombarded us with because it's the first black? (like if it was very important lol)

DaveF

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Some links:
https://www.bbc.com/news/business-59166017
https://www.bloomberg.com/news/articles/2021-11-03/mayor-elect-eric-adams-to-explore-nyc-coin-similar-to-miami-s

He is a very tech business friendly guy in genera from the Bloomberg article:

Quote

In Brooklyn, where Adams has been borough president, there’s been a 356% increase in tech startups in a 10-year span, he said. In the past three months, he’s sat down with tech leaders, including those from Israeli and local companies, and two days ago, he met with 30 tech startups.

Gemini is based out of NYC as are a few other BTC startups.

Although with the Bit License some people see NY in general as tough to do crypto business in. Others like it since it does level the playing field a bit. But either way it's good to see more politicians embrace BTC. And Mayor Elect Adams is going to be running the most populated city in the USA so there are going to be a lot of people who hear his message.

-Dave

Topic: [2021-10-5] New York's next mayor wants to be paid in Bitcoin (Read 165 times)