MiamiCoin has now raised $24.7 million... but who will benefit?
CityCoins presented an overview of MiamiCoin technology on the third day of The North American Bitcoin Conference in Miami, Florida. Recently, Cointelegraph spoke to Miami Mayor Francis Suarez following the announcement that Miami residents with a digital wallet can earn a Bitcoin dividend. The company that sets up the infrastructure to get Bitcoin dividends into the hands of citizens is CityCoins, an open-source protocol that provides fundraising mechanisms for cities. Miami and New York City are the two inaugural cities to begin fundraising, via MiamiCoin and NYCCoin respectively.....
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While Miami’s mayor Francis Suarez told the public he was a big believer in bitcoin and has accepted his pay in bitcoin, at the same time, a crypto coin called miamicoin (MIA) was launched. The Miamicoin project’s goal was to give Miami’s “citizens and supporters the power to support, improve and program the Magic City.” However, after reaching $0.05 per unit on September 20, 2021, the crypto asset miamicoin has shed more than 88% in value against the U.S. dollar. City of Miami Receives First Disbursement From Miamicoin Project Totaling $5.25 Million A....
After a $5 million disbursement, MiamiCoin is the first CityCoin to withdraw funds from its treasury. Upon the announcement that Francis Suarez, Mayor of the City of Miami, took a $5.25 million disbursement from the MiamiCoin wallet, Cointelegraph inquired about how the city will use these funds.I’m so excited to announce that the @CityofMiami has received its first-ever disbursement from @mineCityCoins totaling $5.25M. This is a historic moment for our city to collaborate with an innovative project that creates resources for our city through innovation not taxation.— Mayor Francis....
MiamiCoin is not just a cryptocurrency, but rather a decentralized application that can function as a developer platform for cities. On June 2, 2021, Miami Mayor Francis Suarez tweeted that “MiamiCoin” will be the first “CityCoin” ever to be launched, representing Miami’s very own cryptocurrency. Fast forward about two months later and the anticipation surrounding the release of MiamiCoin has been on the rise. Initially, it may appear as if the Magic City’s digital currency will function just like other cryptocurrencies that can be bought, sold and traded to profit both investors and the....
The race to establish America’s biggest crypto hub is intensifying, with Miami emerging as a front-runner by generating millions of dollars in yield from staking Miami Coin. Every Miami resident with a digital wallet will be eligible to receive a Bitcoin dividend according to Mayor Francis Suarez. “We’re going to be the very first city in America to give Bitcoin yield as a dividend directly to its residents,” Suarez said in an interview on Nov. 11.Citycoins launched the MiamiCoin cryptocurrency in August, which helps fund municipal projects by generating yield. Staking MiamiCoin has....
The mayor of Miami, Francis Suarez has revealed that the city has so far generated over $8 million from its partnership with CitycOINS. The city had taken a plunge into crypto with the creation of its very own coin named after the city, and the mayor said that the move had been a “game-changer” for […]