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Smalltown Ky. Chief to Be Paid in Bitcoin

December 05, 2013  | 

The city commission in tiny Vicco, Ky., approved a measure this week to begin paying the city's police chief in Bitcoin, a move officials say is likely the first of its kind in the nation, the Hazard-Herald reports.
 
Police Chief Tony Vaughn appeared before the commission last month to officially request that his salary be paid to him in the 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. The currency was valued at less than $100 at the beginning of the year.

 


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