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Mayor of Cool Valley in Missouri pledges to mine Bitcoin for residents – will he push through?

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10
Dec
  • The Mayor of a small town in Missouri has pledged to mine Bitcoin and then gift it to the local residents.
  • Jayson Stewart has previously promised to give $1,000 to every household in his town, but he has yet to fulfill his promise.

Cryptocurrency giveaways are common with popular personalities and even some of the biggest companies giving out Bitcoin, Ether, XRP, BNB and more. In Missouri, one mayor is going an extra step and wants to mine it for the residents.

Jayson Stewart, the mayor of Cool Valley, a town in St Louis County in Missouri, declared his ambitious goal on Twitter today.

The mayor didn’t disclose any further details about how he will mine the BTC. Depending on the scale, the venture could prove quite costly for the mayor, as some pointed out to him on social media.

“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 pointed out.

Whether he will push through on his ambitious pledge is anyone’s guess, especially given the effort and financial input it will require.

And his track record does him no favors. At the end of September this year, he pledged to give $1,000 worth of BTC to every household in his town. He has yet to fulfill this promise. With a population of fewer than 2,000 people, Cool Valley offers a good test ground on such pledges.

While his pledges can be questioned, his love for Bitcoin is undeniable.

“It’s given me a new way of thinking about humanity in the future,” he said of Bitcoin in a podcast a few months back.

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

And while the U.S has proven to be a challenging market for Bitcoin, he believes that America embodies the ethos that attracted him to Bitcoin.

“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.

Also Read: Former Secretary of State Hillary Clinton warns of cryptocurrencies destabilizing nations

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