The mayor of a small Missouri town has announced that he will mine Bitcoin and distribute it to the town’s people.
Jayson Stewart, mayor of Cool Valley in Missouri’s St Louis County, announced his audacious objective on Twitter today.
The mayor did not provide any additional information about how he intends to mine the BTC. In response to his tweet, users praised the lawmakers’ desire to assist Cool Valley people by supplying mined Bitcoin. As some users pointed out on social media, the initiative may be costly for the mayor, depending on the scale.
“The cost of ancient mining methods is getting higher and higher, the requirements for technical expertise are getting stricter, and policies are needed. If your town has no natural advantages, this will be a very risky investment,” one user pointed out.
Some users believe the town would build a hydroelectric mining station on the nearest available water reservoir. Therefore the town would remain “green” while also generating passive revenue. However, the quality of life in the town is still low when you compare it to the state’s largest cities. Therefore, the people of the town would utilize the revenue to improve people’s quality of life.
It’s anyone’s guess whether he’ll follow through on his bold promise, especially given the time and money it’ll take.
Stewart’s Promises
Jayson Stewart’s track record isn’t helping him. He promised to deliver $1,000 worth of BTC to every home in his town in September this year. His initial plan was to distribute $500 worth of bitcoin to every homestead. The announcement drew attention and additional funds for the project from across the nation.
Jayson Stewart’s initial plan “failed” in a positive way. Surprisingly, he was able to collect even more cash from throughout the country. Hence, he was able to double his initial offer for households and airdrop $1,000 in digital funds. Stewart is yet to fulfill this promise. Cool Valley, with a population of fewer than 2,000 people, is an ideal test bed for such commitments.
Cryptocurrency giveaways are common. Celebrities and even some of the world’s largest corporations hand out Bitcoin, Ether, XRP, BNB, and other cryptocurrencies.
Jayson Stewarts Enthusiasm for Bitcoin is Undebatable
While his commitments are debatable, his passion for Bitcoin is apparent.
“It’s given me a hope, and an optimism that we can overcome some of the worst parts of the system that we’re born into, and actually create a future exactly how we want it to be. There’s a certain level of hope and optimism that I get from Bitcoin,” he said of Bitcoin in a podcast a few months back.
While the United States has proven to be a difficult market for Bitcoin, he believes that America reflects the mentality that drew him to the cryptocurrency.
“It is the most American thing. Our government is built on freedom and personal liberty, and rights and self-sovereignty, and all of the things that Bitcoin really is. I think it’s a natural marriage that Bitcoin in America will thrive,” he claimed.
According to Stewart, decentralized technologies, notably Bitcoin, have the potential to overcome a number of issues that traditional financial systems have, as well as produce a more efficient monetary policy.