Cryptocurrency Analysis and News Portal
Suarez: You know people ask me the same thing about bitcoin, the fact that it's lost more than 50% of its value, but that doesn't change my feelings about the fundamental technology. For me, what was interesting about MiamiCoin was the idea that a percentage of the mining revenue would
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Upon the announcement that Francis Suarez, mayor of the city of Miami, took a $5.25 million disbursement from the MiamiCoin wallet, Cryptox 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
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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
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Recently, Cryptox 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
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The yield comes from the staking of the city’s own cryptocurrency, MiamiCoin, which was introduced early this year and has already earned over $21 million in the past three months for Miami. Suarez noted that if you were to annualize that revenue, it would equal roughly one-fifth of Miami’s total
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MIA runs on the Stacks protocol, which in turn runs on top of the Bitcoin network. People can “mine” MIA it by sending STX, the native token of Stacks, to a smart contract, which forwards 30% of those contributions to a wallet reserved for the city. Last month, the city
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Miami Mayor Francis Suarez has been celebrating the success of a recent initiative to fund municipal projects through the proceeds of a city-specific crypto protocol built atop the Bitcoin (BTC) blockchain.On Sept. 13, Miami’s city commissioners voted to accept funds generated by a new cryptocurrency, MiamiCoin, which was launched in
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