(Top 10 Frequently Asked Questions About Cryptocurrency) How will the mayor of New York City use his salary in cryptocurrency?
The story of getting paid in crypto actually started in November last year when Mike Pompliano, a young millionaire investor in the United States, said in a statement on social media who was the first politician in the United States to get paid in cryptocurrency Will?
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New York City Mayor Eric Adams, who sees digital technology and cryptocurrency as the future of the world, is receiving his first salary in cryptocurrency today. It is a different matter that after the 'correction' in the US stock market, the crypto market has also crashed and in just 24 hours, the total value of the corrupt currencies has decreased by 2 billion.
The story of getting paid in crypto actually started in November last year when Mike Pompliano, a young millionaire investor in the United States, said in a statement on social media who was the first politician in the United States to get paid in cryptocurrency Will?
In response to the tweet, Miami Mayor Fran OIS Suarez, who wants to merge his city with Silicon Valley and Wall Street and make it his capital, replied that he would receive his next check in cryptocurrency.
How could the mayor of New York City, the so-called financial capital of the world, accept this? Mayor Eric Adams quickly announced that New York always does a great job.
He announced that as mayor of New York, he would receive his first three salaries in bitcoin.
Thus, the day has come when he is getting his first salary as mayor in corrupt currency. But not everything went as planned.
Under US Labor Department rules, New York City can pay its employees in dollars. Therefore, as soon as their first check is received, the cryptocurrency will be converted to bitcoin and Ethereum currencies through coin base, or it has already been done.
Coinbase is one of the largest cryptocurrency exchanges in the country. These exchanges function like a bank where in addition to buying, selling, exchanging, trading, capital is kept safe in crypto.
How will the mayor of New York City use this salary?
The question is, how will Mayor Eric Adams spend his salary when it is converted into a corrupt currency?
Train tickets on New York subways can't be bought with crypto. Whether it's bargaining or retail shopping, everything is currently trading in dollars. There are hardly any restaurants in the city that accept payments in crypto.
Non-Fungible Token How are digital assets bought and sold?
Electricity, gas, water and telephone bills are also paid in dollars, and if Mayor Adams' house is purchased on a mortgage from a bank, he will need dollars to pay it. Will That means Mayor Adams will again convert his entire salary or part of it into dollars.
You must be wondering why it is necessary to change the salary from the first dollar to the corrupt and from the corrupt to the dollar again.
What is the future of cryptocurrency?
Experts will tell you that cryptocurrency is our future.
Last year, Senior Director, Crypto Exchange Coin Base, announced on the company blog the introduction of Coin Base Card facility and other products in the form of debit card-style payment of full or partial salary in Crypto without transaction fee dollars.
'The future of paying salaries has arrived'
Imagine for a second you were transposed into the karmic driven world of Earl. Later coins came and, then the financial system was set up through notes.
Then credit cards were introduced, which took decades to gain acceptance in a country like Pakistan. According to experts, the world is entering a new era and the future of the corrupt man is expected.
Is cryptocurrency reliable?
The crypto market has crashed many times in the past, in such a situation is it safe to invest in crypto?
Fawad Rehman, a corrupt investor in Washington DC, says that the corrupt system is not as centralized as the current investment system where all control is in the hands of some, so it is better than the traditional system.
Commenting on the instability of the cryptocurrency and the recent crash, Fawad Rehman says that the value of all world currencies fluctuates, stocks fluctuate and, the dollar depreciates over time.
What is going on with America's tainted currency?
He gives an example, saying that inflation is another term for it.
According to him, if you paid four dollars for McDonald's food ten years ago, it now costs ten dollars. It's not strange, then, that the corrupt are up and down, according to Fawad.
Most of the troublemakers, he claims, are individuals that invest for a short period of time. As soon as people notice the currency is sinking, they begin selling it out of fear of losing money, and mayhem ensues.
Those that invest in it for a long time, according to Fawad Rehman, have profited.
He states that the value of bitcoin was zero when it was created in 2009, but that two years later, in 2011, it reached one dollar. After halving in July of the previous year, the value of a bitcoin reached a high of 63 63,000 in April 2021. Despite the fact that bitcoin's value has plummeted in the aftermath of the cryptocurrency crisis, one bitcoin is still worth over $37,000.
He also claimed that anyone who bought Bitcoin in this manner during the heyday of Bitcoin are surely losing money today, but consider that 100 Bitcoins bought for $100 in 2011 are now worth $3.74 million.
He would have had a million dollars, or 660 million Pakistani rupees.
Who is a part of the crooked race?
Mayors of American cities include Jane Caster, the mayor of Jackson, Scott Conger, the mayor of Jackson, and Stewart Jason, the mayor of Cole Valley, a small town in Missouri. Including those who wish to make crooked friends in their cities.
Also read this for more information:
Who are the top 10 richest people of 2022? Who has been successful in accumulating More wealth?
Top 10 best cryptocurrency for new Investers in 2022 and 2023.
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