bitcoin city is going to be a very attractive place i believe for a lot of bitcoin or's.yn: relations with the u.s. and el salvador from a government perspectives seem to be unraveling. hitting a further low at the moment. there are worries of relationships between el salvador and the imf. does any of that matter to some of the investors your talking to yucca -- you are talking to ? samson: no. [laughs] i do not think a lot of these organizations like the imf or world bank are relevant in the world based on bitcoin. they are only relevant because they can print money, they can make fdr. they can make money out of thin air. you cannot do that on a bitcoin standard. it really takes us back to what money should be, which is just money, not a surveillance mechanism and not a tool to enforce your beliefs and economic policies on another nation. caroline: samson mow, a beautiful shot. don't think we have ever had someone coming from a volcano and talking us through the risks and rewards potentially coming from these bonds. we fervently say, do your due diligence. when some of t

then you will love bitcoin city!ypto paradise, and definitely not a global conspiracy to gather all of the world's most annoying people at the base of an active volcano! you will live in bitcoin buildings! you will drive bitcoin cars! and you t

then you will love bitcoin city! a new crypto paradise, and definitely not a global conspiracy to gather all of the world's most annoying people at the base of an active volcano! you will live in bitcoin buildings! you will drive bitcoin cars! and you won't be covered in a fiery blanket of molten lava! don't worry! so ignore the haters who say cryptocurrency is a fad, or living at the base of a volcano is stupid! who are you going to trust? a vulcanologist or a president who's cool enough to wear a backwards hat? and the financial charts have never been more promising! oops! that's a seismograph. the charts have never been more promising! the crypto market is about to erupt, and we want you to be in bitcoin city when it explodes! and coming soon to norway, dogecoin mountain! ( cheers and applause ) >> announcer: it's "the late show" with stephenobe! tonight, hit me with your boots on. tonight, stephen welcomes andrew garfield and chef joseÉ andreÉs, featuring jon batiste and "stay human." and now live on tape from the

oh yes, bitcoin city will be constructed near a volcano. it will be funded by you guessed it, big coin, the country president announced saturday. the bitcoin city will have residential and commercial area services, entertainment restaurants, and an airport construction in the southeastern part of the city. country, excuse me, will begin in 2022. the city will have no taxes except from of that tax of value added tax love them hate them, doesn't matter because regardless of how you feel, el salvador is experimenting with concepts that so many people in the austrian economic encrypt currency space have only theorized for decades and el salvador is now testing those theories. a beautiful thing. well, that's it for this time you can catch boom bust on demand on the portable tv app, which is available on smartphones and tablets. you can get it through google play or the apple app store by searching portable tv. portable tv can also be downloaded on my song. samsung, smart tv, excuse me, and roku devices are you can check it out at portable dot tv

the plans involve building bitcoin city in el salvador. it will be backed by bitcoin. t the foot of a volcano and they will use the volcano's power for energy. >> i was was was w tv. lebron james hit isaias in the face while battling for a rebound position. stuart started bleeding from his eye. joint personnel held back stuart before his team finally forced him off the court. he needed five stitches to his face. this was only the second time lebron james has ever been tossed out of a game. tiger woods says hess he posted a three second video. suffered serious leg injuries when his car rolled over. ♪ reggie: i do really like that song. fans across the country voted for all of the winners. bts won for favorite pop song and artist of the year. new artist of the year went to olivia rodriguez. a little bonus. talking about the new year's eve concert that will be right here at home. fans will do what -- will enjoy some of the tracks from his album. >> i think we will stretch it out a little bit. there are some songs about san francisco that i would like to play, so it will be

in el salvador, president nayib bukele has announced plans to build the world's first "bitcoin city" in the eastern, coastal region of la uniÓn. bukele said the city would be financed by cryptocurrency bonds and would harness geothermal power from a volcano. many opponents say a bitcoin city would likely lead to further displacement and other catastrophic impacts on local communities. this is salvador's president speaking sunday. >> residential areas, commercial areas, museums, entertainment, bars, restaurants, airports, sports, rail -- everything related to bitcoin. amy: bukele's announcement comes despite massive opposition to bitcoin in el salvador, which is also the first country in the world to declare the cryptocurrency as legal tender. meanwhile, several civil society organizations critical of bukele's government were raided by the salvadoran national police monday. the widespread raids targeted feminist, humanitarian aid, and other social justice groups. in wisconsin, police say the man charged with plowing his suv into a parade of christmas revelers was involved in a domestic

quiÉn beneficiarÍa >>> es para los grandes, nosotros que trabajamos como comer zantss >>> proyecto bitcoin citydo por el fondo monetario internacional que criticÓ el uso de bitcoin como moneda oficial en el salvador. >>> donde van a llegar los ricos a pasarla bien y estar haciendo un casino. >>> a pesar de las criticas el gobierno sigue con el plan y hace unos dÍas sus diputados aprobaron n ley de expropiaciones que va a facilitar la adquisiciÓn de propiedades para el uso del estado noticias telemundo >>> en repÚblica dominicana se han incrementado los operativos para los que cruzan del vecino ahÍ ti sin documentos migratorios. se busca hacer mÁs difÍcil la llegada de mano de obra extranjera rosa encarnaciÓn tie fe los detalles >>> en las calles, en el transporte pÚblico, en el campo y hasta los hospitales los agentes de migraciÓn bus cn a los indocumentados haitianos detenidos y llevado a este centro, trasladados a la frontera y deportados a su paÍs. >>> con la crisis en ahÍ ti los cruces han aumentado de 23. 664 el aÑo pasado, a casi 32 mil de enero a noviembre de este aÑo sin embargo,, los d

as legal tender back in september the president of el salvador announced a ambitious plan of a bitcoin citysounds farfetched and bluster for leaders of tiny underdeveloped nations, but ceo of el salvador is trying to break free from the international monetary fund and world bank to give his country true freedom. the big question, will it work? i want to bring in jim bianco. you know, jim, the imf warned el salvador last 24 hours warnerred using bitcoin as legal tender after the bitcoin city announcement. could it be for third world nation to achieve real economic independence? >> that is exactly what it is. if they were to achieve that independence that they would then be able to go beyond the banking system as we know it right now, the big multinational banks. they would become less reliant on them if this works. now this is an experiment that does have some risk and it might be you know, it might not work but the upside for these third world countries if it does work is very big because remember most of the people in these countries are unbanked. if this is a way to get them into a financ

. >> bitcoin city was announced by el salvador's president. >> it will use a volcano as power. >>> amotocross rider. >> he raced through the alps before flying off a ramp and making two front flips and making two front flips and to run a growing business, is to be on a journey. and along the ride, you'll have many questions. challenges. and a few surprises. ♪ but wherever you are on your journey. your dell technologies advisor is here for you - with the right tech solutions. so you can stop at nothing for your customers. [upbeat acoustic music throughout] [upbeat acoustic music throughout] with the right tech solutions. after 40 wrinkles deepen and skin can get uneven but here's the good news. the new revitalift retinol pressed night cream, with retinol + niacinamide. after 14 nights wrinkles start to be less visible and skin tone looks more even. the new revitalift pressed cream by l'oreal paris. two loads of snot covered laundry. only one will be sanitized. wait, what? adding lysol laundry sanitizer kills 99.9% of bacteria detergent alone, can't. ♪ ♪ why give a gift they'll never u

just days after the president of el salvador and i was plans to build the world's 1st bitcoin city, the i a message once again pushing back on it's moved to use a crypto currency as legal tender in the country. bitcoin officially became legal tender along with the us dollar in el salvador. back in september, the nation has counted the crypto currency as a means to help millions of its citizens who send remittances from abroad and its ability to bolster tourism. while the i m f has been critical of the move from the start, the central bank double down on monday, writing quote, given bitcoin high priced volatility use as a legal tender. it's significant risk to consumer protection, financial integrity, and financial stability. it's use also gives rise to fiscal contingent liability, adding that because of those risk bitcoin should not be used as a legal tender. so let's go ahead and bring back our expert panel of professor richard wolf and peter shift to discuss. now i think you gentlemen might be able to find some common ground on this, but then again, i've been wrong in the path. peter,

el salvador plans to build a bitcoin city at the base of a volcano, with the cryptocurrency used to funds announced. the city will be circular to represent the shape of a large coin and will be built in the south—eastern region of la union. el salvador recently became the first country to use bitcoin as legal tender. to the us now, where president biden is expected this week to choose his nomination for the country's most powerful economic position — the chair of the federal reserve — which will then need to be ratified by the us senate. current incumbentjerome powell's four—year term is due to end in february next year and he was expected to be offered a second term. but, there's a chance that lael brainard could take his place and she is seen as more dovish by the markets. joining me now is thomas hoenig, distinguished senior fellow at the mercatus center. he was also previously president and chief executive officer of the federal reserve bank of kansas city. what do you think the nomination will be? it’s nomination will be? it's difficult _ nomination will be? it's difficult to _ nomi

having a pretty good day close to 60,000 on bitcoin, it got to 59 and change earlier now it's 57.9. we've got one country which wants to build an entire citysay for sure we do indeed cover it all on this program. china just tested a hypersonic missile travels five times faster than the speed of sound. does our military have anything to match that? general jack keane, after this. >> ♪ (vo) the more we do with our phones, the more network quality and reliability matter. and only verizon has been the most awarded for network quality 27 times in a row. that means the best experience with calls, texts and data usage of any major carrier, according to customers. there's only one best network. the only one ranked #1 in reliability 16 times in a row. we are building 5g right. ♪ ♪ traveling has always been our passion, even with his parkinson's. but then he started seeing things that weren't there and believing things that weren't true. that worried us. during the course of their disease, around 50% of people with parkinson's may experience hallucinations or delusions. and these symptoms can get worse over time. nuplazid is the only approved medici

: yeah, michael, i mean, we've been talking about the impact of going all in on bitcoin because the mayor of new york city happened in el salvador, the fact that you had 70% of the people on bank and then bitcoin came along and then you had 77-- 70% of the people banked. your thoughts? >> i'm hoping that the top gets blown off the price of bitcoin like a volcano. i feel like as long as we have that upward pressure on the price of bitcoin, not the volcano is the best case scenario for that city and for a lot of other people. maria: for sure. the word on wall street is coming up next. stay with us. we will be right back. . . to see my ancestors' photos was just breathtaking. wow, look at all those! what'd you find? lorraine banks, look, county of macomb, michigan? oh my goodness... this whole journey has been such a huge gift for our family. an official message from medicare. did you try it yet? comparing plans? oh yeah. they sure can change year to year. i found lower premiums and lower prescription costs. that'll save you money. so uh, mark? on medicare.gov now. open enrollment ends december 7th use the p

bitcoin city quite an interesting headline this morning as you mentioned with el salvador creating a e for bitcoin? >> i do. i think it's a positive for bitcoin. i think it's a positive for innovation and i think it's a positive for people financial inclusion. one of the big narratives has been that bitcoin in particular isn't necessarily green friendly but yet we see in reaction to that the industry rapidly evolving and innovating to find ways to power system that allows for inclusion like volcanic emissions. i don't see that happening in terms of dollars issuance. so from my perspective, i think the sky is the limit in terms of how we innovate towards powering the crypto market. >> yeah. it will be interesting to see if it becomes a tourist destination as well. chris, thank you very much for joining us today >> thank you it's good to be here >>> last 30 seconds coming back to a theme that leslie just stressed the big getting bigger. apple is worth noting yet again i think because it is now up 24.1% for the year you can see the s&p is also up but apple almost matching the s&p's perfo

>> they don't because city going is voluntary so people mine.created a work just like a reward for mining bitcoinage is put into a digital wallet the city benefits from so we are going to cash out a percentage of what has been accumulated from 20 million accumulated in just three months and that's tax-free. people are not intervening to it, we lowered taxes the second lowest rate since the 1960s so miami, additional revenue a nontax source. kennedy: i wish more people would discover the joy of lowering taxes. the country in so many cities would be a much better place and speaking of which, how could you encourage the fed to engage in crypto investment you have in miami? it lowers taxes for people in your city, isn't there a way of implementing this with the fed and irs? >> the fed has an issue and "the issue is" the fed as well as congress is controlled by people. they obviously have great policy whether to monitor or fiscal, it doesn't always necessarily benefit our citizens so what's happening with bitcoin, it's a beautiful program, somebody played by humans, you don't create more circulation o

bitcoin. for now, it's cliern if new york city can even issue paychecks in bitcoin. let's just say this. s of the adams administration is going to be fascinating to cover. >>> it's starting to feel like christmastime in the city. rockefeller center announced their christmas tree will come from maryland. the 75 foot, 12-on the spruce will be harvested next thursday and arrive in new york two days later. it will be decorated in 50,000 l.e.d. lights and topped with a swarovski star. the light willing take place on december 1st. also a beautiful thing here at rockefeller center. let's hear one for the home team. >>> coming up next, two stories, both hinge on videos taken at the scene. we'll look at the latest investments in a pair of murder trials. >>> we look at this day in history when in 1968 richard nixon captured the white house becoming the 39th president of the united states. >> ladies and gentlemen, i didn't realize so many of you would stay up so late. i want to express first my grateful appreciation to all of those in this room, but more than that, the media on television and radio,

will appreciate and that will hedge against inflation and so for them, we believe in bitcoin, we think that as a citywe are creating competition with new york and other cities, mayor of tampa has agree today take percentage of salary in bitcoin. this is healthy competition for cities that want to be innovative and want to be in the forefront of the innovation economy which is our future. maria: the miami coin has already generated incredible amount of revenue making the city what, how many millions so far, is it $7 million so far? tell me about the revenue that you're expecting and why using bitcoin is such a game-changer in terms of your own budget issues? >> sure, miami coin has generated over $20 million in just over 3 months. so that would be annualized and, of course, annualized anything with 3-month trend, $80 million. we generate 4 to $500 million in tax revenue. it's possible that if we grow the utilization that they could pay the entire tax revenue of the city of miami. the other thing that we are exploring is actually giving back, converting the miami coin into bitcoin and giving back a per

newly elected new york city mayor eric adams plans to convert his first paychecks into bitcoin to make city more welcoming to crypto. adams tweeted he would take his first paychecks in bitcoin when he becomes mayor responding to francis suarez who says he will also take his paycheck in bitcoin. still very unclear what the framework is for public officials to receive salaries in cryptocurrency and what that is and could be it feels like a pr move in that sense. >> still a nice little war between new york and miami see you next week. let's get to the half. >>> all right, carl. thanks so much welcome to "the halftime report." i'm scott wapner front and center this hour, new record for stocks and optimism for the country as the jobs report easily tops expectations and pfizer reports incredible news for its covid pill. the investment committee now debating how far this rally can go we will hear momentarily from strategist tom lee who called this record run. joining me for the hour today, brynn talkington, jim sapperstein, jim lebenthal

would you encourage businesses in new york city to accept bitcoin or other cryptocurrency? o tread carefully. we're going to get it right, but there's something else that i wanted to send a signal. this city was the empire state. we made empires. now we are destroying empires every day. this is the center of innovation, self-driving cars, drone development, cybersecurity, life sciences, and so when i talked about blockchain and bitcoins, young people on the street stopped and asked me, what is that? what is it about? >> can you explain in 30 seconds what it is for people who don't know? can you tell viewers who aren't really sure what bitcoin is? >> even experts will have a challenge doing that. it is -- the cryptocurrency is a new way of paying for goods and services throughout the entire globe, and that is what we must do, open our schools to teach the technology and this new way of thinking when it comes down to paying for goods and services. >> i have to ask you about something a top economic adviser, jason furman for obama said, he said not only is it a bad investment f

new york city mayor elect eric adams will take his first three paychecks in bitcoin when he takes overy hall in january. he said he wanted to turn new york into a crypto friendly city, saying he wagered up "friendly competition" with the mayor of miami, the first to set up a crypto city coin cryptocurrency. coming up, the chip shortage seems a problem for almost everyone but qualcomm reporting better-than-expected earnings results in the stock soaring. i will speak with the ceo next about how he is navigating supply chain issues. how does he think? he will join me coming up. this is bloomberg. ♪ >> we have constraints across the board and you need to see how the demand would play out across the industry but we are comfortable with supply playing out as we had planned. emily: qualcomm's cfo expressing confidence about the plans to navigate the chip shortage. revenue up for the world's largest maker of chips. i am joined by the ceo of qualcomm, cristiano amon. great to have you back. the stock is surging and a number of analysts upgrading. the stock struggles this year and i'm wondering

finally, the incoming mayor of new york city will take his first three paychecks in bitcoin. eric adams, who was elected tuesday, said he was hoping to make the city the center of the cryptocurrency industry. he is also considering launching an n.y.c. version of cryptocurrencies as miami, florida, has already done. miami's mayor has said he will take all of his salary for his coming term in bitcoin. crypto startups have been flocking there. the process of bitcoin mining is far from environmentally friendly, not to mention the risk of volatility. we see prices fluctuating by tens of thousands of dollars in a single day. >> not sure i'm quite ready for it myself. thank you indeed. it is time for a short break from us here in the newsroom. do stay with us. world news headlines coming up in just a minutes. -- just a few minutes. ♪ 11/04/21 11/04/21 [captioning made possible by democracy now!] amy: from new york, this is democracy now! if we cannot havan understanding, aegally binding agreement where countries agree not to push global temperatures above 1.5 degrees, if we cannot do

bitcoin 62,$015 a coin. the mayor elect of new york city, eric adam says he will take his first 3 paychecks in bitcoin. hat do you make of that? >> he wants to make a crypto currency center. you hear about eric adams, you are about tom brady and all these big time celebrities and public figures taking paychecks and endorsement deals in bitcoin it is more of a promotional thing for bitcoin than anything. why couldn't you get paid in dollars and buy some bitcoin. not sure what is going on but how do you do it logistically, we use a dp for payroll. i couldn't start if one of my employees asked to be paid in bitcoin. stuart: jay powell was seen visiting the white house was his job is not in jeopardy but will be reappointed. the wanting reappointed? >> i do. betting odds have it at 70% he will get reappointed. when you look at the alternatives he's the best option, he is undoubtedly the most dovish fed chair ever but is much more hawkish than any of the other potential players when it comes to fighting inflation and that is front and center. stuart: let's deal with individual stocks you follow closely and yo

they accept cash in exchange for bitcoin and other crypto currencies for months, cnbc has been investigating this here's eamon javers with the story. >> welcome to the citymiami, bitcoin, 2021. >> here at the country's largest bitcoin conference in miami, nearly everyone is talking about cashing in on the crypto craze >> we're the first bitcoin atm company to push education. you can do that in one transaction. >> any wallet you'd like to use to store your crypto currency. >> and crypto atm companies who make theirmoney by charging a premium on each transaction are a growing part of the industry with more than 26,000 kiosks around the country, these machines are a huge convenience and also they can be a huge target for fraud how easy is it for criminals to exploit these machines >> seems like it's very simple >> lisa is council for the new jersey state commission of investigation, which looked into bitcoin atms, finding many operating with virtually no oversight even though their owners must register with the u.s. treasuries financial crimes enforcement network. >> there's no id collected no photo taken no address zpl and that opens the doors to criminals

to believe that the fiat currency is losing, the people are losing confidence in fiat current city, and bitcoindvice to people is just to acquire pieces over time. you want to buy on weakness, you want a dollar cost average in. if you look at a chart of bitcoin in 2017 and in 2021, they're eerily similar. so, you know, with that you'd expect a massive upside move into bitcoin. i mean, the history of the asset is you get a 503% retracement and then -- 50% retracement and then a triple from the previous all-time high. charles: right. >> if you're a bitcoin believer, i'd always be adding on weakness. charles: i'm licking my chops because i'd like to buy it on the dip. i've missed a lot of 'em, to your point. by the way, both of these guys love nvidia, i love nvidia. that kind of makes me nervous, but i couldn't sell it. [laughter] have a great thanksgiving. liz claman, again, another choppy market. the nasdaq full any in control though. liz: how about that? you rightly pointed out some of these names have been selling off, others not so much. charles, happy friday. the s&p and nasdaq, any gain wil

. >>> incoming new york city mayor eric adams saying he will take his first three paychecks in bitcoin. i'm not sure how he does that, or how they'll do that the declaration came as a twitter reply to miami's mayor who said he would be taking his next paycheck in bitcoin spokesperson for the campaign saying adams would convert his pay into bitcoin via an exchange since the city can only currently issue salaries in u.s. dollars. >>> and the indian city of ayodhya, forgive me if it's mispronouncing it, keeping the world record as it lit up over 900,000 lamps. about 1,400 volunteers set up the lamps along the banks of the river. this is the third year the city has received that official world record soon you'll be able to get the popcorn with the movie theatre butter outside of the movie theatre. amc theatres announcing that it will begin selling microwaveable popcorn at supermarkets and convenience stores next year they plan to launch their own stores serving the freshly popop snack. one more thing at the mall you have to navigate the smell of the cinnamon buns and the popcorn as you're

york mayor—elect eric adams says he would take his first three paychecks in bitcoin, and signaled his intention to make the citymayor francis suarez has also tweeted that he would take his first paycheck in bitcoin the us space agency, nasa, has unveiled a system it hopes might use to protect the earth from asteroids. it hopes it might use to protect the earth from asteroids. in what's being described as the first planetary defence test mission, a satellite will be launched into space and crashed into a pair of asteroids, to try and change their course. the bbc�*s tim allman has the story. spaceis space is vast and full of wonder. countless stars, cou ntless wonder. countless stars, countless planners and cou ntless pla nners a nd cou ntless countless planners and countless numbers of rocks streaking through the cosmos. earth has i was been a potential target, exposed and vulnerable, until now. this is a computer simulation of dart, the double asteroid redirection test, which could be a first line of defence is one of those clumps of rock come heading our way. tt clumps of rock come heading our wa . . , clumps

city. brisbane being bitcoin the south city being the biggest costco mostly to tobacco products and you shoulded in the city many years ago and they first opened in sanfrancisco but now they're located in brisbane . >> thank you. my initial commitment is that i think the appellant has madean honest error . just a quick classification question from the city attorne . is the 20 day suspension just, is that the extent of the punishment for lack of a better termfor the notice of violation ? for all the tobaccoproducts . >> correct and is currently required for dph. >> you just went onmute . miss lopez. can you hear me now? >> sorry, my screen is frozen. yes. the suspension is the only quote unquote penalty that the appellants are facing and it's a penalty that'sprescribed and outlined in departments rules and regulations . >> have you had this imposed on other establishments as well? >> i'm goingto defer to the department of public health on that because there in this when it comes to enforcement . >> do you have cost onhow it's been implemented ? >> hello commissioners. i see inspector janine you

new york city mayor-elect eric adams is doubling down on his support for cryptocurrencies after tweeting he will take his first three checks in bitcoin. his tweet is a rally cry as he wants to make new york city a global hub for crypto inn innovation. >> that is what we must do open our schools to teach the technology and teach this new way of thinking when it comes to paying for goods and services. i want to make sure this city becomesa center for innovation no matter what that innovation is. >> bitcoin is up more than 100% this year and trading right now on an all-time high of 66088 pwc said it will create 20,000 new jobs in china over the next 30 years as part of a $1.25 billion investment the plan would double the company's china workforce and make it twice the size of its uk operations which currently employs some 22,000 people >>> after nearly 20 months the u.s. is lifting pandemic era travel restrictions. starting today the travel ban is replaced by a new set of rules that will allow international invests from 30 countries in europe as well as canada and mexico into the countries. so as long as as they show proof of vaccinatio

vonnie: the new york city mayor elect said he would like to take his first three paychecks and bitcoin in january. he said he wanted to turn new york into crypto friendly city and a hub for growth and innovation. he wants to set up a city going cryptocurrency similar to one launched by miami. global news 24 hours a day on air and on bloomberg quicktake. powered by more than 2700 journalists and analysts in over 120 countries. i'm vonnie quinn. this is bloomberg. shery: coming up, energy day at cop 26. was it enough? we will speak to a professor who was one of the world's most preeminent climatologist. an asset advisor tell us where he is putting his billions of dollars under asset management. this is bloomberg. ♪ shery: how do you factor in the policy risks here? >> the policy risk is really if you follow the fed at their word in terms of taper, sometime by the summer you would see them finish with the tapering program. the question is what happens with employment? what happens with inflation. the earlier segment, you were talking about opec-plus denied the request to pump more oil. ou

maria: welcome back, income new york city mayor eric adams vowing to take first three paychecks in bitcointerday, new york city is going to be the center of the crypto currency industry. this follows miami mayor francis suÁrez saying he would take his next paycheck in bitcoin. a bit of competition over bitcoin paychecks. joining us right now bitcoin philanthropist brock pierce. thank you very much for being here. >> good morning, great to see you as well. maria: i want to see ha you're hearing at the foundation but first give us your reaction of new york and the mayor of miami as well as new york, incoming mayor saying that they want their paychecks in bitcoin? what are they trying to message out here? >> i think they are saying that their cities are embracing the future and remember the future favors the bold. i'm really happy to see real leadership in the country because a lot of the problems that we see in the world today are problems that stem from the 20th century and the answer to solving those challenges come from innovation in the 21st century. i'm happy to see leadership -- i'm ec

bitcoin. this as new york city now flirts with its own cryptocurrency. patrick stanley with all of that. going on here is that mayors are realizing that they have to compete for citizens the same way that ceos compete for customers. and right now before eric adams even assumes office, he's already become one of the top 1% of mayors just by merely embracing technology and cryptocurrency. for the last 18 months, opposition has been -- [inaudible] and now he's got -- neil: you're talking about the miami mayor who's also entertaining that and maybe having all public payments done through bitcoin. where is all of this going, do you think? >> yes, sir. so where it's going, i think, is you're essentially going to have crypto cities that spring up over this decade, and they're going to be run by technologically-progressive mayors that recruit talent and capital inside their municipality. so, you know, previous to 2020 when people could just work remotely, mayors would largely make in-group arguments to their own constituency and try to raise tax dollars from whoever's sort of inside their city.

i was reading a story about how bitcoin was helping to rebuild a city in the condo that was devastatedt makes me wonder, could this be the answer in where e velocity of money and a system that would work much better than, say, higher taxes which never create real prosperity. i want to bring. hello, yes, this is why i'm so i think a nation that lives by the money printer runs the risk of dying by it as well. we made stuff, now we're the world's biggest debtor nation. we hardly make anything except debt. everything is distorted, charles. inflation is good. our economy is like an airplane flying without an altimeter because we have no price signals based on real interest rates, and we haven't for a long time. we have a system where insiders create disproportionate access to capital with low interest rates, and that capital goes where? into stocks of companies that have no real growth. they just issue easy government money to buy back shares and create synthetic growth in these market bubbles, they buy up real estate and turn the country into renters. it sucks the life out of savers and be

5k but the fbi is warning about criminals targeting bitcoin atms we have an investigation into these new kind of atms >> welcome all of you to the citymiami. >> here at the country's largest bitcoin conference in miami, nearly everyone is talking about cashing in on the crypto craze. >> we're the first bitcoin atm company to push education. >> you can do it anywhere. >> can you use whatever wallet you want to use. >> and crypto atm companies that make their money charging a premium on each transaction is a growing part of the industry these machines are a huge convenience, and also they can be a huge target for fraud >> how easy is it for criminals to exploit these machines? >> seems like it's very simple. >> reporter: lisa is council for the new jersey state commission of investigation which looked into bitcoin atms, finding many operating with virtually no oversight, even though the owners must register with the financial crimes enforcement network. >> there's no id, no photo take even, no address. >> and that opens the doors to criminals? >> yes. >> what do they do with it >> anything, money laundering, dark web fraud scams. >> re

city of miami and our country. neil: you're rolling the dice though wanting your paycheck just in bitcoin.you, did you talk or think about maybe hedging that a little bit? maybe a third of the paycheck, maybe half? you want the whole thing? >> my wife asked me if that was a good idea but certainly when, when governments are spending the kind of money that they are, when you have inflation at the point that it is, when you have rampant overspending in government -- spending all of that pushes in favor of an increase in pricing the bitcoin which we've seen over the last 24 months. it is incredibly you know, it is growing incredibly in terms of value. so i feel very comfortable getting my entire salary in bitcoin. i think it is in line with what we want to do in miami. we want to be ahead of the curve. the world is more disruptive than it has ever been. we want to create the most dynamic city on the planet. frankly every city in america should try to be innovative as possible so this country can be more competitive. neil: now as you also had been saying, maybe this was a way to lead the charg

. >> welcome all of you to the city of miami, to bitcoin 2021. >> here at the country's largest bitcoin first bitcoin atm, company trying to push education. >> you can do that in any transaction. >> any wallet you would like to use to store your cryptocurrency. >> reporter: and crypto atm companies who make their money by charging a premium on each transaction are a growing part o. industry. with more than 26,000 kiosks around the country, these machines are a huge convenience and also they can be a huge target for fraud how easy is it for criminals to exploit these machines. >> seems like it's very simple. >> reporter: lisa is council for the new jersey commission of investigation which looked into bitcoin atms finding many operating with virtually no oversight. even though their owners must register with the u.s. treasuries financial crimes enforcement network. >> there's no i.d. collected, there's no photo taken, there's no address. >> reporter: and that opens the doors for criminals? >> yes >> reporter: and what do they do with it? >> anything from money laundering, dark web fraud,

the incentive model. bitcoin volcanoes are being harnessed to power bitcoin mining and al salvador and this new pilot project, the city of berlin, 112 kilometers south of a capital city. san salvador has a geothermal plant that it was built in 1999. the plant is composed of 162-002-3000 deep shafts from which steam circulates and makes 3 turbines function. the energy generated by those turbines can reach up to a 107 megawatts, but only 5 are used for the operation and mining of bitcoin. the rest of the energy is used for the countries grid. so, you know, nobody wants to live out nervous. no, you don't, you don't build houses and industry out near volcano in case that blows. right. and so bitcoin is a great way to capture that energy and, and have a i, m, f, world bank, free currency that you get to control and maintain your sovereignty as a nation. and don't get to be bossed around. right? it's stranded. well, you know, it's a good way to put it. so the big coin network allows for countries and communities to plug into their stranded wealth source. that could be geothermal. it could be hydro, that could be solar, it c

>> one thing that's incredibly exciting is people think that bitcoin is only used in major metropolitan citiesites that the small rural town of 5,000 or 10,000 consumers has consistent consumer demand and it's really across-the-board and that's why i think there's really big missed opportunity in not having a very broad solution where we focus on software, we don't put down kiosks like other guys out there, and we're able to leverage and scale very quickly so that the person living in a rural area is not left behind. liz: are you worried at all that the app will cannibalize your original hard atm business? >> yeah, so at the end of the day our atm service is with debit cards so it's a different user base than one that might have cash carrying around especially if you're buying more , we've seen a lot of people actually prefer the debit card at atm so they don't spend 30 minutes inserting cash which a lot of consumers don't like. our goal is to make it very quick, efficient and painless. liz: chris, we want to hear more especially about the smaller towns and rural areas. i don't think they get