Struggling from Weakening Coal Industry, Mayor and Police Chief Turn to Bitcoin

Vicco‚ Kentucky‚ a small mining town (2.0 km2) with over 300 residents‚ put up with the slow decline of coal mining by using bitcoins.

 Vicco Police Chief Tony Vaughn appeared before the city commission last month to request his salary be paid in Bitcoin. The commission approved his request during a special called meeting on Monday. (photo by Cris Ritchie | Hazard Herald)

Photo credits: hazard-herald.com

Initiated by police Chief Tony Vaughn, requesting his salary to be paid in bitcoins‚ Mayor Johnny Cummings agreed to it after thorough research on the subject‚ prompting the city to create its own bitcoin account.

“Basically his next paycheck‚” Cummings said. “They′ve set up the accounts for Vicco and for Tony‚ so it can be transferred.”

Taxes and other deductions will still be carried out in cash and only his take home pay will be converted into bitcoins starting early this month and have it transferred to the chief′s bitcoin account.

“I’m excited about it; it’s a first for Vicco again‚″ Vaughn delightingly said since the city was named the first to pass fairness ordinance in the region gained public attention and now this step is the first of its kind in the city if not the world.

“We just want to be on top of things‚ and up–and–coming and more progressive as a city‚” Cummings said as the city plans on putting up a website accepting bitcoin donations taking advantage of the publicity made from Comedy Central′s “The Colbert Report.”

As more and more people get to explore potentials of bitcoin, explore your own potential here with us in SBO Bitcoin.

 

More on this news here

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