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Mayor Francis Suarez on MiamiCoin

Suarez: folks ask me the identical factor about bitcoin, the truth that it is misplaced greater than 50% of its worth, however that does not change my emotions in regards to the elementary know-how. For me, what was fascinating about MiamiCoin was the concept a share of the mining income would go to the town. I simply assume that is a novel concept. Whether or not the tokenomics work is a way more sophisticated macro subject. Paradoxically, the stacks that now we have earned, or which might be put in a digital pockets for the town, that are roughly 11 million stacks, have really generated about half 1,000,000 {dollars}’ value of bitcoin, in staking, that may be dispersed to all of our residents equally. And that is one thing that we have checked out as a challenge. So, I feel the very restricted conversations that I’ve had with among the CityCoins folks was, look, now we have a priority, as a result of when it is as inflationary as it’s, you are seeing a precipitous value drop, which is what we’re seeing in loads of tokens. And that makes folks lose confidence. I feel the lack of confidence is what jeopardizes the challenge. So, if they do not need to see the challenge jeopardized, then they need to repair it. I feel that they’ve gotten that message out that they are attempting to repair among the tokenomics. Simply to place the numbers in context, I imply, in bitcoin, you solely have 19 million approximate bitcoin issued. In MiamiCoin, 3.65 billion have been issued in not even a yr. So I feel they have been off in that tokenomic. And that is one thing that they are going to have to determine.



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