His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.
I am really sure, He probably didn't spare his salary at that time because he had to fulfill his life needs such as bills, food, etc, and maybe if he really saved his BTC, that is possible a only few satoshis left on his wallet. because BTC price movements would make people tempted to sell it. Maybe we can equalize Tony Vaughn with signature participant who got payment with btc, because there are many necessities for life, they might sell some, and set aside some. But I am really sure, some of them will sell everything if BTC price back to ATH or more than the previous price. because there are still many people still compare BTC with fiat.
Topic: Do you know about the first public servant paid in bitcoin ? - page 2. (Read 341 times)
maybe now it looks like; too bad, but the money worked for what he needed it for, it was his salary, it wasn't extra money, whatever, it's happening right now someone is selling a bitcoin that will be worth 10 or 20 times more in the future.
Based on this article
Quote
Police Chief Tony Vaughn, who said he will donate his salary to a Vicco Bitcoin account, appeared before the commission last month to request getting his paycheck converted to Bitcoins..
So he is not the one who's actually benefitting from his Bitcoin salary and besides he doesn't need that salary from that job since he owns real estate and does not work to make a living it's the town that's really benefiting from that salary.https://www.foxnews.com/us/mayor-police-chief-in-struggling-kentucky-coal-town-to-donate-salary-in-bitcoins-to-spur-economy
If that is the case then the earlier replies of discussing that this guy should have profited from the Bitcoin payment if he still holds that bitcoin is for nothing. Since the payment is donated to some institution, I bet the Bitcoin is instantly converted to fiat the moment the donation touches the said Vicco Bitcoin account. So no one is getting rich on this salary because it is probably converted real time after the donation is done.
His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.
Far from billionaire, but rich. Although reason people work in the first place, is that they need your salary to pay your bills, buy food and all the necessities, so majority of it isn't invested.And i remember that fomo time pretty well. After 2014 when it started dropping, almost everyone in this planet would have exited. Bitcoin was new and everyone was laughing at you when you bought ath of that time. I can't remember any media reporting that it would go back up, so it would have taken mixture of crazy and true believer to hold it. Especially when no one could have predicted how high it would go.
It is indeed far from billionaire because the person does not hold the salary received in Bitcoin but rather donated it to the state. Though I can say the person is already rich even before he decided to accept his salary in Bitcoin.
His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.
I haven't heard about Tony Vaughn before this post but as far a I know that Bitcoin's price was still over $13 a single Bitcoin and if that person might have hold his Bitcoin then he would be a millionaire right now. If we think about that in logical perspective then we get the answer that the guy didn't hold his Bitcoin because he received his Bitcoin as salary and mostly we spend our salary on the things that we like and that guy might has converted his Bitcoin into fiat so he could purchase the things that he needed during those days.
though he has such kind of belief, but he still sold it. seems that he needed his fiat at that time but if he did stick to it and not sell, sure, he will be a billionaire today. it goes to show that even if you have strong belief on this market, there are circumstances that you still need to sell because of your financial situation.
I think he believes in Bitcoin and sold his Bitcoin maybe he really needs fiat at that time. After all, he work to have money for daily needs. Maybe he does something to his salary like donations and whatever the amountnof BTC he sold is for himself or family. Based on what I read from here, he is aiming for the history where a person in their town received Bitcoin as a salary from a government entity. Well, his salary is already deducted with the tax as what I have read. 
His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.
Far from billionaire, but rich. Although reason people work in the first place, is that they need your salary to pay your bills, buy food and all the necessities, so majority of it isn't invested.And i remember that fomo time pretty well. After 2014 when it started dropping, almost everyone in this planet would have exited. Bitcoin was new and everyone was laughing at you when you bought ath of that time. I can't remember any media reporting that it would go back up, so it would have taken mixture of crazy and true believer to hold it. Especially when no one could have predicted how high it would go.
Selling bitcoin is actually a normal procedure. Those who we have been earning right now in Bitcoin are still selling even though we know the potentiality of Bitcoin. Aren't we doing this? Otherwise, who has been selling Bitcoin on the market? If no one sells it, then no one can buy it, so the market will be stuck. Even if I get the salary during that time, I won't hold it till now; it's quite impossible unless I forget about my bitcoin. So Tony Vaughn could even become a millionaire if he holds, but who knows? I am pretty sure he also sold his holdings before seeing a massive pump.
His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.
We have that original thread here in 2013, Tiny Kentucky Town Agrees to Pay Only Police Officer In Bitcoin.
And so he was a police officer, and it was very uncanny for a public servant, specially a law enforcement official losing his belief in fiat system and looking for a alternative like Bitcoin in it's early years.
And he is correct, and let me quote him from that 2013 article:
Quote
"I pretty much think it will eventually take over," he said, "or I hope it does."
though he has such kind of belief, but he still sold it. seems that he needed his fiat at that time but if he did stick to it and not sell, sure, he will be a billionaire today. it goes to show that even if you have strong belief on this market, there are circumstances that you still need to sell because of your financial situation.
maybe now it looks like; too bad, but the money worked for what he needed it for, it was his salary, it wasn't extra money, whatever, it's happening right now someone is selling a bitcoin that will be worth 10 or 20 times more in the future.
Based on this article
Quote
Police Chief Tony Vaughn, who said he will donate his salary to a Vicco Bitcoin account, appeared before the commission last month to request getting his paycheck converted to Bitcoins..
So he is not the one who's actually benefitting from his Bitcoin salary and besides he doesn't need that salary from that job since he owns real estate and does not work to make a living it's the town that's really benefiting from that salary.https://www.foxnews.com/us/mayor-police-chief-in-struggling-kentucky-coal-town-to-donate-salary-in-bitcoins-to-spur-economy
If you remember that time, it was really lucky that person had Bitcoin. And if he decides it's profitable to hold until now or sell half and keep the rest until now he will still be rich. How much money would he get now if he sold it?
I salute and admire people like this, because they are able to assess the price of Bitcoin and are willing to accept salary payments using Bitcoin.
That person did not know that the price of bitcoin would reach its highest price of $68K. they were only aware at that time bitcoin was growing, but not with a price surge many times over maybe they never thought about it, if they knew the future now maybe he would hold, the same thing as an investor who sold at a low price at the time if he knew he would definitely hold...I salute and admire people like this, because they are able to assess the price of Bitcoin and are willing to accept salary payments using Bitcoin.
Let this be a problem then, so now I just know there are companies that pay with bitcoin back in 2013 where at that time bitcoin was not as fast as it is now, then he is really lucky and maybe it will be history for him that will never be forgotten.
His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.
We have that original thread here in 2013, Tiny Kentucky Town Agrees to Pay Only Police Officer In Bitcoin.
And so he was a police officer, and it was very uncanny for a public servant, specially a law enforcement official losing his belief in fiat system and looking for a alternative like Bitcoin in it's early years.
And he is correct, and let me quote him from that 2013 article:
Quote
"I pretty much think it will eventually take over," he said, "or I hope it does."
hero member
Activity: 532
Merit: 508
Leading Crypto Sports Betting & Casino Platform
Yea, he sold it because he got paid in Bitcoin, just like we received Fiat as a salary, and probably he could not save anything out of it but use it for some personal needs that he had at the time. It could have been anyone else too; perhaps there were so many people who also bought Bitcoin very cheaply those days but were unable to hold it till the last ATH. In the space of life, some people are faced with different needs and responsibilities, and there is no way they might have been able to keep holding their coin to date, even if they wanted to, but it seems they sold it because it was the only choice they had to make at that time.
maybe now it looks like; too bad, but the money worked for what he needed it for, it was his salary, it wasn't extra money, whatever, it's happening right now someone is selling a bitcoin that will be worth 10 or 20 times more in the future.
If you remember that time, it was really lucky that person had Bitcoin. And if he decides it's profitable to hold until now or sell half and keep the rest until now he will still be rich. How much money would he get now if he sold it?
I salute and admire people like this, because they are able to assess the price of Bitcoin and are willing to accept salary payments using Bitcoin.
I salute and admire people like this, because they are able to assess the price of Bitcoin and are willing to accept salary payments using Bitcoin.
His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.
Base on my understanding even if he haven't sold the bitcoin that he got he wouldn't have become a billionaire despite that he was the only one that is been paid by bitcoin at that 2013,but rather a millionaire because i think they were just paying him $80k
His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.
Based on my computation, he would not become a billionaire, proabably a millionaire.
I dig a bit and look for his name, there was an article that was dated 2013 reported about him getting paid in bitcoin as his salary. So if he continues receiving it, that's 10 years already. But let's judge it based on the fitures, not sure if the salary rate is correct but based on this article below., the "Chief Of Police Salary in Kentucky" is around $80k per month, I rounded it off.
So $80k x 10 years, that's only 800k which is less than a million, so even if we will multiply that by 30 times, that would only reach up to $24 million which is already overstated, so that "billion" never exist.
https://www.cnet.com/tech/services-and-software/kentucky-police-chief-to-be-paid-in-bitcoin/
https://www.ziprecruiter.com/Salaries/Chief-Of-Police-Salary--in-Kentucky#Yearly
His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.
Jump to: