MiamiCoin — Modern Crypto Adoption

Miami is the first US municipality to accept cryptocurrency contributions through CityCoins.

“What’s interesting about Bitcoin is that its use case has essentially been a store of value, and the question is, does MiamiCoin remain a store of value … or does it have a different use case? We feel that if MiamiCoin metamorphoses into a currency … there exists a possibility that it could have wide use and applicability.” — Miami Mayor Francis Suarez

Disclaimer: I own MiamiCoin and this is no financial advice.

MiamiCoin

If you believe that crypto is here to stay and you believe that Bitcoin is a superior store of value, you should look more into MiamiCoin which is built on the Stacks Protocol.

Before I dive into the 4 reasons why I invested in MiamiCoin, we need to understand Stacks, the underlying technology of MiamiCoin.

Stacks ($STX)

If you like to learn more, I would highly advise you to read the white paper about Stacks:

CityCoins

“It is exciting that $MIA is the first CityCoin, as Miami has long been an epicenter of culture and innovation in the US. We’re confident that MiamiCoin will demonstrate to other cities that adopting new technologies can propel local initiatives, improve city infrastructure, and more.” — Patrick Stanley

How to mine MiamiCoins?

Where to buy MiamiCoins?

Where to stake MiamiCoins?

One reason why the APY is so high offers the following Twitter user:

Investment Reasons

2) Support a smart government: Mayor Suarez has a clear strategy to establish Miami as the world’s capital for crypto:

“We were the first city in America, the second city in the world to publish Satoshi’s White Paper on Bitcoin. We were the first city to begin the process of allowing our employees to get paid in Bitcoin and allowing our residents to pay fees and taxes in Bitcoin.” — Miami Mayor Francis Suarez

With MiamiCoin, you can support these initiatives and you can bet on Miami’s further success. It’s a way of investing in municipal equity.

In addition, the Major Francis Suarez “threw a lot of technical diligence at it from experts that he knows very closely,” Stanley said. “He threw a whole legal team at it, his financial controllers at it, and the City of Miami is acting like a startup. They’re not a typical city, so it’s full of very sharp people who move quickly and carefully.

On top of this, MiamiCoin could offer endless possibilities to $MIA holders as it is programmable money. With MiamiCoins, you could for example get access to museums and events or get discounts on specific things.

3) Get Stacks/Bitcoin exposure: MiamiCoin gives you as an investor great exposure to Stacks and Bitcoin. By staking your MiamiCoins you earn Stacks every 15 days (current APY: 430%). These Stacks can be used to earn Bitcoin (current APY: 10%).

4) Enter an asymmetrical risk-reward opportunity: MiamiCoin just launched and has a current market cap of $50M. This could present an asymmetrical risk-reward opportunity, especially if you believe that the price of Bitcoin and Stacks will go up over time.

The low market cap with the high staking rewards offers a great entry point to own and stake your MiamiCoin for Stacks and Bitcoin while supporting Miami and its current crypto strategy.

It’s still very early.

Disclaimer: I own MiamiCoin and this is no financial advice.