Police chief’s salary to be paid in bitcoin

Commissioners in Vicco, Kentucky have approved a measure to begin paying the city’s police chief in bitcoin, starting this month. From the article:

Police Chief Tony Vaughn appeared before the commission last month to officially request that his salary be paid to him in Bitcoin, a new virtual currency which exists only on the Internet and this year has gained significant traction, with its value rising by the end of November to more than $1,000 per coin, according to USA Today. The currency was valued at less than $100 at the beginning of the year.

 

The city commission in Vicco opted last month to hold off on approving Vaughn’s request in order to research the issue. Commissioner Claude Branson on Monday said officials did their homework, and there doesn’t seem to be any logistical or legal issues to paying Vaughn in Bitcoin.

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3 Responses to “Police chief’s salary to be paid in bitcoin”

  1. redeyereport says:

    How much you want to bet we’re going to be seeing a lot more of this in the near future? Great for developing the market, but I’m thinking some people are going to get burned when it corrects itself.

  2. Phil says:

    Did you see how much the price fell over last few days! It did recover somewhat though.

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