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The Bitcoin Boomlet Comes to Local Government

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Governing magazine (online) has a short but good piece on how Bitcoin is starting to be used by everyone from Tesla to buy cars, to Miami to pension funds(!): Click Here

Cities and pension fund use of an unregulated, volatile cryptocurrency ought to concern us, since if pensions or cities lose money on what is essentially a speculation vehicle, it could rip away funding options for other things, like public banks.

Ironically, as Bitcoin, and even Dodgcoin, which Elon Musk may use to fund a city, come into more use, it may cause their values to shrink to more realistic levels.  Bitcoin lost 1/3 of its value in 2 weeks in 2017.  Look out below.
Read the rest of the story HERE:

At www.governing.com
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Scott Baker Social Media Pages: Facebook Page       Twitter Page       Linked In Page       Instagram Page

Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a former blogger for Huffington Post, Daily Kos, and Global Economic Intersection.

His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:

Scott is a former and current President of Common Ground-NY (http://commongroundnyc.org/), a Geoist/Georgist activist group. He has written dozens of (more...)

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