When Suarez announced in November that his city would partner with the group, one of its leaders, Patrick Stanley, told news outlet and cryptocurrency price index company CoinDesk TV that Suarez “just turned his city into an oil producing country that gives Bitcoin yield to its citizens, like that is incredible.”
The proposed arrangement is unusual from an economic development perspective as well, in part because City Coins says it is not a company but rather a kind of collective. Its website does not list any employees or contact information besides a link to the messaging app Discord. It is registered in Delaware as a nonprofit organization. Online records show it is not registered in Florida.
To John Forrer, a research professor at George Washington’s public policy school, the unprecedented arrangement presents potential pitfalls for any municipality that signs up.
'mOnEy LaUnDeRiNg' 'sCaM' 'fAkE mOnEy.' Y'all didn't do your homework and it shows. 🙃
Of course it is CityofMiami. BecauseMiami
One sure way to get rid of the graft that is Florida...Let them bankrupt themselves...
One well-coordinated blackout, and it’s history. Talk about a terrorist’s wet dream…
Interesting that the first city to fall for this ecological nightmare is one in the crosshairs of climate change.
This is rich. Miami is one of the first major city that will be destroyed by climate change. Crypto by itself is producing more CO₂ waste than many industrial countries.
ndahlberg 👏👏💯💯
Will the crypto-mines work underwater?
Hello Start online Part-Time Job and Earn 300$ weekly.
This feels very Robocop 2-ish
Bad idea.
Is the new crypto called “Ponzicoin”?
I smell tulips 🙄
Hyped as a new revenue source, the proposal could expose cities to the volatility of cryptocurrencies and risks like money laundering while enriching the coins' early backers, whose identities are unknown.