Miami, host city of the Bitcoin 2022 event we recently visited, doesn’t own or manage the MiamiCoin cryptocurrency, although the coin has enjoyed the support of Mayor Francis Suarez, who at one point suggested it raised “the possibility of being able to run a government without the citizens having to pay taxes.” Now Quartz reports that since launching on August 3rd, MiamiCoin’s value has dropped by as much as 95 percent.
The CityCoin plan requires miners to acquire tokens on the Stacks (STX) blockchain that they can use to bid for MiamiCoin. The winning bidder receives 70 percent of their investment in MiamiCoin, while the city receives the other 30 percent in STX tokens.
I’m so excited to announce that the @CityofMiami has received...
Keep it Clean. Please avoid obscene, vulgar, lewd,
racist or sexually-oriented language. PLEASE TURN OFF YOUR CAPS LOCK. Don't Threaten. Threats of harming another
person will not be tolerated. Be Truthful. Don't knowingly lie about anyone
or anything. Be Nice. No racism, sexism or any sort of -ism
that is degrading to another person. Be Proactive. Use the 'Report' link on
each comment to let us know of abusive posts. Share with Us. We'd love to hear eyewitness
accounts, the history behind an article.
(0) comments
Welcome to the discussion.
Log In
Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.