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1. Zug: From Silicon Valley to Crypto Valley;
2. Switzerland’s ‘Crypto Valley’ Has Started Accepting Bitcoin, Ether for Tax Payments.
3. .0038 btc to usd?

Add Me. Main Desk: Newsroom: Advertising: News Sections. More Sections. About Us. Instead of seeing these trends as troubling, Silicon Valley bet on Bitcoin. Big VC firms invested in businesses designed to encourage speculation by converting bitcoins into dollars; prominent tech figures like Peter Thiel and, most famously, Cameron and Tyler Winklevoss made it known that they had personally invested in Bitcoin.

The phrase bitcoin billionaire started showing up. Many tried, nonetheless. That same month, venture capitalist Reid Hoffman revealed that he was investing in a startup called Blockstream because he thought Bitcoin, and blockchain more generally, was a liberating tool.

Bitcoin & crypto payments, Spend your Bitcoins in luxury fine wines

It promised to lower fees for financial services; it allows for micro payments, which can be used to support important institutions like newspapers and artists; it will bring a global currency to remote parts of the world. Left unstated in these Bitcoin manifestos was the idea that making bitcoins useful would make them more valuable, and thus a good investment. And, of course, those who bought the most bitcoins at the lowest price would make off like bandits, with oligarchic control over a currency. Bitcoin celebrated the hyper-individualism rather than disguising it, and never managed to entrench itself in the culture.

But give it points for honesty. While working for The New York Times , Read more. In addition, the mayor proposed allowing people to pay all or part of property taxes or city fees in crypto.

Although the commission approved the resolution , it significantly dialed back its original wording. It only agreed to study the practicality of such steps, rather than taking action, as the original proposal had suggested.

Suarez has been courting Silicon Valley investors and technology companies for months, and adopting Bitcoin is a critical part of that plan. Suarez also wants the city to analyze the feasibility to invest a some government funds in Bitcoin, the resolution said.

UNDERSTANDING ICOS

Some city commissioners cautioned against embracing Bitcoin without a close study of the risks. Suarez, who is up for re-election this year, has portrayed himself as someone who is willing to consider and promote new ideas. Late in , he started engaging with Silicon Valley technology investors on Twitter, and his efforts to lure them to Miami have become a viral sensation. He asked voters to give him more managerial power, but the initiative failed. The proposal comes in a week when Tesla Inc.

In the resolution, the mayor described Bitcoin as an increasingly popular asset for people, corporations and major investors.