Post
Topic
Board Bitcoin Discussion
Re: Do you know about the first public servant paid in bitcoin ?
by
freedomgo
on 08/11/2023, 11:58:41 UTC
His name was Tony Vaughn and he was from Kentucky. He was paid his salary in bitcoin in 2013 , at time when very few even heard about bitcoin. If he would have not sold those bitcoins that he got as salary, he would might have been a billionaire by now. Because bitcoin price at that time was just $1000 a piece , so his wealth would have been about 30 times at current prices.

Based on my computation, he would not become a billionaire, proabably a millionaire.

I dig a bit and look for his name, there was an article that was dated 2013 reported about him getting paid in bitcoin as his salary. So if he continues receiving it, that's 10 years already. But let's judge it based on the fitures, not sure if the salary rate is correct but based on this article below., the "Chief Of Police Salary in Kentucky" is around $80k per month, I rounded it off.

So $80k x 10 years, that's only 800k which is less than a million, so even if we will multiply that by 30 times, that would only reach up to $24 million which is already overstated, so that "billion" never exist.


https://www.cnet.com/tech/services-and-software/kentucky-police-chief-to-be-paid-in-bitcoin/
https://www.ziprecruiter.com/Salaries/Chief-Of-Police-Salary--in-Kentucky#Yearly