$47,528.03 -0.46%
BTC · 6w

Miami Set to Launch Its Own Cryptocurrency, Reward Users in Bitcoin

In brief Miami’s own cryptocurrency, MiamiCoin, will launch tomorrow. The cryptocurrency will essentially allow people to invest in Miami by buying the coin. Money raised will be used to fund projects and events in the city.

Miami will launch its very own cryptocurrency tomorrow, MiamiCoin, which will be used to fund infrastructure projects or events in the city. 

The idea is that people will support Miami by buying or mining MiamiCoin, and funds will be diverted to the city's treasury. 

MiamiCoin will be the first CityCoin released. CityCoins is a project that allows people to invest in a city by buying tokens. It works with local governments so those who invest are rewarded in Bitcoin or Stacks, the native cryptocurrency of the eponymous protocol used to build things on the Bitcoin blockchain.  

“MiamiCoin provides an ongoing crypto revenue stream for the city, while also generating STX and BTC yield for $MIA holders,” the CityCoins website reads. 

City governments can embrace Bitcoin and crypto faster than nations. Miami Mayor @FrancisSuarez is experimenting with crypto to give Miami a Bitcoin-yielding treasury. A thread on cities and crypto👇 — muneeb.btc (@muneeb) August 2, 2021

“MiamiCoin can be mined or bought by individuals who want to support the Magic City and earn crypto yield from the Stacks protocol. MiamiCoin additionally benefits holders by allowing them to Stack and earn yield through the Stacks protocol.”

Anyone can mine MiamiCoin (or other CityCoins, when released.) If the project takes off and becomes popular by more people holding it, investors will be able to passively earn Bitcoin simply by owning the MiamiCoin. This is because MiamiCoin is built on Stacks, a crypto project which allows users to lock up their tokens and earn rewards to keep the system running.  

And as more coins are mined, a portion is deposited into a wallet for the local government to use on whatever it wants—for...

Continue on

More reason to stop using banks


Why Generation Z Loves Bitcoin

Recent news
BTC -0.46% · · 9h

Bitcoin infrastructure firm Blockstream (...) "raised $210 million as part of a Series B financing at a valuation of $3.2 billion. (...) Blockstream's Modular Mining Units can be accessed through the Blockstream satellite network from anywhere in the world (...) with renewable energy sources."

Bitcoin infrastructure firm Blockstream, led by British cryptographer Adam Back, whose proof of work algorithm served as foundation for Bitcoin’s underlying technology, has raised $210 million as part...
BTC -0.46% · · 12h

More reason to stop using banks

One key prong of President Biden's plan to bankroll Democrats' $3.5 trillion budget plan is to monitor gross inflows and outflows from an individual's bank account.
BTC -0.46% · · 13h

What Is The Bitcoin White Paper? Read It Here!

While you may be just recently hearing about Bitcoin- “The Bitcoin White Paper” was first published by the pseudonymous creator of Bitcoin, Satoshi Nakamoto, in 2008. In essence, the fo…
BTC -0.46% · · 20h

Bitcoin thrives on open source

In the 1990s, Linus Torvalds turned his community software project Linux into the leading choice for global server infrastructure, paving the way for free and open source software (FOSS) in an…
BTC -0.46% · · 20h

Statue to Satoshi Nakamoto unveiled in Budapest

Hungarian bitcoin enthusiasts unveiled a statue in Budapest on Thursday which they say is the first in the world to honour Satoshi Nakamoto, the enigmatic inventor of the virtual currency.
BTC -0.46% · · 22h

Boomers are suddenly buying bitcoin

Nearly a quarter of investors surveyed by BTC Markets said they had no plan other than not missing out on potential windfalls.