The mayor of Cool Valley, Missouri, says that he’s secured enough funds to airdrop Bitcoin to every household in his jurisdiction.
Mayor Jayson Stewart says that he’s going to give each of his 1,500 constituents $1000 worth of Bitcoin as a way of combating financial inequality.
cities dabbing in crypto. I like where this is going!
I’m not sure how to react to such news. …
From one point of view - as an evangelist for blockchain technologies and cryptocurrencies, I’m happy to hear about such a great plan …
But from a political point of view, it sounds a bit strange… especially if they are some people who can vote for him in an election at some point and would continue to represent them to the best of his ability…
Bitcoin can NOT become “the local currency” of his community for everyday payments and I’m not sure how it would help local people in the long term …
Interesting to hear some updates on this story in a couple of months or even a year later …
In my opinion bitcoin is not for spending. It’s basically a asset to hodl and create generational wealth. I think what it will do more than anything is open the eyes of a entire city to research crypto and blockchain technology as they will now own the asset.
Some will decide to hodl, sell, spend or trade for another crypto asset that can be used in everyday transactions cough cough… Intercoin.
It’s a win for cryptocurrency in a whole no matter what they choose to do with it.
It’s a reminder also it only takes one to have a snowball effect.
This seems to be more of a publicity stunt than a policy decision. However its still net good with regards to promoting crypto adoption. Is it worth $1000 to get someone into crypto? Probably! Hopefully in the future we will able to roll out community currencies so this money goes further too.
if every major did that to it’s citizens for just paying taxes on time haha