Kentucky Police Chief To Be Paid in Bitcoin

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This guy is either an idiot, or a genius...I guess we'll all find out soon enough.

The city commission in Vicco approved a measure on Monday to begin paying the city's police chief in a virtual currency, a move officials say is likely the first of its kind in the nation. Police Chief Tony Vaughn appeared before the commission last month to officially request that his salary be paid to him in Bitcoin.
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A fucking POLICE CHIEF in KENTUCKY is the first to arrange something like this?

Talk about twilight zone.
 
WTF!? No way that story can be true, the hazard-herald has been hacked maybe?? :D
 
Isn't Kentucky like prime marijuana farmland, or something like that?
 
okashira said:
A fucking POLICE CHIEF in KENTUCKY is the first to arrange something like this?

Talk about twilight zone.
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Considering many "anti-government" types like Bitcoin I don't see how Kentucky is so random.
 
Man, this just seems wrong on so many levels I just don't where to begin.

At a minimum, I think a government employee(state or fed) not wanting to paid in the currency of his country does show that may be an incompatibility between his belief system and his job role.
 
they will deduct before converting

Only Vaughn's take-home pay will be issued in Bitcoin, explained Mayor Johnny Cummings. All applicable federal and state taxes will be removed before Vaughn's salary is then converted electronically to Bitcoin and deposited in an online account for the city of Vicco. The currency then will be instantly transferred to Vaughn's own Bitcoin account.
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Stiletto said:
Brawr brawr Bitcoin is a scam worth nothing you idiots brawr.
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Of course, people said the same of the guy in England who sold his house and bought bitcoin when it was at $30 or so. Who's laughing now?
 
kirbyrj said:
Of course, people said the same of the guy in England who sold his house and bought bitcoin when it was at $30 or so. Who's laughing now?
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BARRR WHATEVER IT'S NOT REAL MONEY IT'S JUST CODE IT HAS NO VALUE.

Now pardon me while I read about another case where the MPAA is getting millions of dollars over the possession of a digital copy of a movie.
 
Catalan said:
Isn't Kentucky like prime marijuana farmland, or something like that?
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Southeastern Kentucky grows enormous amounts of Marijuana. Several local sheriff's have been busted over the years for taking bribes, and theirs lots of local corruption surrounding the drug trade. The plants tend to grow well and theirs still an old school farming community in the region. Hillbillys (literally) with guns that know how to grow plants!
 
How about we not add overhead to our payroll, and pay him in USD. He's free to exchange that for bitcoins on his own, right?
 
Stiletto said:
BARRR WHATEVER IT'S NOT REAL MONEY IT'S JUST CODE IT HAS NO VALUE.

Now pardon me while I read about another case where the MPAA is getting millions of dollars over the possession of a digital copy of a movie.
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So is your actual money you put into banks. A hacker was able to hop onto a banks free WiFi, create a brand-new account, put millions of dollars in it that he generated with a click of a mouse (not moving from another account) and go to the ATM outside and pull it out.
 
PhaseNoise said:
How about we not add overhead to our payroll, and pay him in USD. He's free to exchange that for bitcoins on his own, right?
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I have a feeling all they're going to do is wire money into coinbase or something like that. I can't imagine they are going to actually jump through hoops to buy and then transfer BTC.
 
Getting your salary paid in something other than what your expenses are in is pretty fucking dumb. I have Japanese coworkers who get paid in dollars while posted here and exchange rate fluctuations drive them nuts when they're remitting funds to their families back home.
 
Can we say bubble? Some people are as excited about this as they were dotcom companies and MBS's!!
 
We make the good bourbon and mostly meth nowadays thank you very much.

Vicco is in perry county (pronounced purry :) ). It's probably a front for his shine bootlegging. Half of the sheriff's in eastern Kentucky can never quit and will always be reelected since they don't want to face the audit when they leave office. Everyone in eastern Kentucky is a deputized sheriff. All of the sheriff's in those parts are corrupt as fuck.
 
Given the choice, I'd go for at least partial salary in bitcoins. Still need to be day-to-day practical and prudent, but I'd definitely go for it.
 
131129093027_bitcoin_price_112913_620xa.png


Dvorak on the No Agenda Show thinks it will go to $10,000!!
 
And to think I used 6 of them for various torrent/use net sites for payment.....
 
So is your actual money you put into banks. A hacker was able to hop onto a banks free WiFi, create a brand-new account, put millions of dollars in it that he generated with a click of a mouse (not moving from another account) and go to the ATM outside and pull it out.
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I'd love a link to this, millions, through an ATM? If your ATM daily withdrawal limit were $500 it would take 2,000 days per million to get all the money out. I can only imagine that as he added millions to his account without pulling it from anywhere else, the Bank would have been showing a sizable Net Value, and I mean sizable enough that they would have gone looking for how they had acquired those millions so quickly. I figured they would have caught on before the guy could have pulled out $10,000 from the ATM.

Anyway, please link away.
 
http://money.cnn.com/2013/05/15/technology/security/bank-heist/

I think I found it. The guy is a security dude and did it to test the bank's network and systems security. He started by the bank actually giving him access but says getting that access could be easy in some banks where they provide WiFi and this WiFi network isn't properly isolated from their production network. Fun article to read but all it really says is that if a bank has completely inept security then they can be hacked.

Now that's an eye opener.
 
Eiolon said:
So is your actual money you put into banks. A hacker was able to hop onto a banks free WiFi, create a brand-new account, put millions of dollars in it that he generated with a click of a mouse (not moving from another account) and go to the ATM outside and pull it out.
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Proof or this is BS you are pulling out of your ass. There is no way a bank is running free wifi that is also attached to their intranet/servers. Either that or they have the shittiest Sysadmin that exists in the world today.... But I'm more inclined to believe you are full of it.
 
lcpiper said:
http://money.cnn.com/2013/05/15/technology/security/bank-heist/

I think I found it. The guy is a security dude and did it to test the bank's network and systems security. He started by the bank actually giving him access but says getting that access could be easy in some banks where they provide WiFi and this WiFi network isn't properly isolated from their production network. Fun article to read but all it really says is that if a bank has completely inept security then they can be hacked.

Now that's an eye opener.
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Point being in the 1800's if I managed to get a hold of a bank's ledger and write in another 0 after my account balance I could take out more money than I put in too.


Regardless of the arguments of real vs. fake, this officer should be paid in US currency and if he wants bitcoins he can pay whatever exchange there is to change his US dollars into bitcoins.
 
Can you imagine being in the accounting or IT department responsible for mining his salary? that'd be a sweet job, mining *for* the government, lol.
 
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