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May 20 - miamicoin....... ....brutally dismembers 90% since september



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 1 month ago '09        #1
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messy marv stan  topics gone triple plat - Number 1 spot x85
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May 20 - miamicoin....... ....brutally dismembers 90% since september
 

 


visit this link https://www.axios.com/202 .. op-value-price


visit this link https://www.coinbase.com/price/miamicoin


MiamiCoin, the first city-themed cryptocurrency, has lost nearly all its value over the past several months amid a broader crypto market collapse, Quartz reports.

Why it matters: Miami Mayor Francis Suarez hoped that the cryptocurrency, launched last summer, would help him raise revenue and reduce income inequality — and the eyes of other mayors were on the experiment.

But the currency's value has fallen more than 90% from its September high of $0.06, per Coinbase

"Its rapid descent has burned investors on the way down, muting the dreams of Miami’s city leaders, and possibly raising red flags for regulators now investigating cryptocurrency transactions," according to Quartz.

Where it stands: Crypto boosters like Suarez view digital currencies as a way to augment traditional city revenue streams, like property taxes.

30% of MiamiCoin miners' proceeds go to city coffers.

Miami did receive a $5.25 million disbursement from CityCoins — the company behind MiamiCoin — in February.

But the coin's subsequent collapse calls into question the long-term viability of such hopes.

Other crypto-curious cities like New York may back off their coin-related plans in light of MiamiCoin's struggles


The big picture: The U.S. Federal Reserve's recent interest rate hike, rising inflation and general economic gloom have combined to trigger sell-offs in all sorts of riskier a*sets, including cryptocurrencies.

Even the two most popular coins, bitcoin and ether, are down significantly compared with late last year — and if they're falling, relatively tiny and unproven coins like MiamiCoin don't stand a chance.

Other headline-grabbing crypto catastrophes, like the spectacular crash of the algorithmic stablecoin Terra, have only increased skepticism of the sector.

Miami has been trying to position itself as the geographic center of the crypto world, aiming to usurp San Francisco and New York's tech and financial primacy.

Last month, Miami hosted Bitcoin 2022 (a major confab for all things crypto and crypto-adjacent); the city's arts scene has been taken over by Bored Apes and other NFT-style work; and crypto venture deals there rose from $6 million in 2020 to $745 million in 2021, per Bloomberg.

But, but, but: The crypto market has crashed time and time again only to come roaring back weeks or months later.

Still, rising interest rates are likely to cool crypto-mania. And even if major coins like bitcoin or ether recover from the current dip, there's no guarantee a rising tide would lift all boats.

What they're saying: "Obviously the price is down significantly," Suarez told Fox News in February as MiamiCoin's value began plummeting. He remains committed to cryptocurrency — "I've never obsessed over the price, neither bitcoin nor MiamiCoin."
+4   



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9 comments
 

 1 month ago '07        #2
Damagegadget  topics gone triple plat - Number 1 spot x1
Props total: 65255 65 K  Slaps total: 8601 8 K
Market saturated..
+7   

 1 month ago '18        #3
BrooklynDamien  topics gone triple plat - Number 1 spot x2
Props total: 69942 69 K  Slaps total: 4760 4 K
fu*k around... they got miners? Let me go look at this...

 1 month ago '04        #4
zone3cp 
Props total: 181778 181 K  Slaps total: 18378 18 K
Money laundering and Fraud.
+2   

 1 month ago '07        #5
GrezyNclean  topics gone triple plat - Number 1 spot x6
Props total: 4984 4 K  Slaps total: 600 600
I actually don't mind projects like this. Failed miserably at the moment but if that worked, that could really change some lives.

Imagine almost no state taxes because of a state coin. In all honesty THIS is what crypto is honestly built for. More ways to generate wealth for the masses. I support it, don't understand the hate.
+2   

 1 month ago '05        #6
blah blah blah  topics gone triple plat - Number 1 spot x46
Props total: 109719 109 K  Slaps total: 86846 86 K
another sh*tcoin. dumb fu*ks going broke gambling these and nfts
+2   

 1 month ago '21        #7
Swisha2k11  topics gone triple plat - Number 1 spot x3
Props total: 4538 4 K  Slaps total: 1729 1 K
Watch the anti-crypto nerds come in here with the see, I told you ...

They're good for that comment twice a year (before they eventually disappear)...

+4   

 1 month ago '07        #8
stogz 
Props total: 122673 122 K  Slaps total: 15469 15 K
 GrezyNclean said
I actually don't mind projects like this. Failed miserably at the moment but if that worked, that could really change some lives.

Imagine almost no state taxes because of a state coin. In all honesty THIS is what crypto is honestly built for. More ways to generate wealth for the masses. I support it, don't understand the hate.
No could not have. It was not designed to work. Miami is built on seized south american drug money. They were built on fraud and corruption. Everyone involved from square one of miamicoin was a corrupt grifter.

 1 month ago '21        #9
nocomment  topics gone triple plat - Number 1 spot x8
Props total: 27714 27 K  Slaps total: 3935 3 K
 stogz said
No could not have. It was not designed to work. Miami is built on seized south american drug money. They were built on fraud and corruption. Everyone involved from square one of miamicoin was a corrupt grifter.
like who name names?
-2   

 1 month ago '06        #10
authenic 
Props total: 5943 5 K  Slaps total: 1481 1 K
 messy marv stan said












MiamiCoin, the first city-themed cryptocurrency, has lost nearly all its value over the past several months amid a broader crypto market collapse, Quartz reports.

Why it matters: Miami Mayor Francis Suarez hoped that the cryptocurrency, launched last summer, would help him raise revenue and reduce income inequality — and the eyes of other mayors were on the experiment.

But the currency's value has fallen more than 90% from its September high of $0.06, per Coinbase

"Its rapid descent has burned investors on the way down, muting the dreams of Miami’s city leaders, and possibly raising red flags for regulators now investigating cryptocurrency transactions," according to Quartz.

Where it stands: Crypto boosters like Suarez view digital currencies as a way to augment traditional city revenue streams, like property taxes.

30% of MiamiCoin miners' proceeds go to city coffers.

Miami did receive a $5.25 million disbursement from CityCoins — the company behind MiamiCoin — in February.

But the coin's subsequent collapse calls into question the long-term viability of such hopes.

Other crypto-curious cities like New York may back off their coin-related plans in light of MiamiCoin's struggles


The big picture: The U.S. Federal Reserve's recent interest rate hike, rising inflation and general economic gloom have combined to trigger sell-offs in all sorts of riskier a*sets, including cryptocurrencies.

Even the two most popular coins, bitcoin and ether, are down significantly compared with late last year — and if they're falling, relatively tiny and unproven coins like MiamiCoin don't stand a chance.

Other headline-grabbing crypto catastrophes, like the spectacular crash of the algorithmic stablecoin Terra, have only increased skepticism of the sector.

Miami has been trying to position itself as the geographic center of the crypto world, aiming to usurp San Francisco and New York's tech and financial primacy.

Last month, Miami hosted Bitcoin 2022 (a major confab for all things crypto and crypto-adjacent); the city's arts scene has been taken over by Bored Apes and other NFT-style work; and crypto venture deals there rose from $6 million in 2020 to $745 million in 2021, per Bloomberg.

But, but, but: The crypto market has crashed time and time again only to come roaring back weeks or months later.

Still, rising interest rates are likely to cool crypto-mania. And even if major coins like bitcoin or ether recover from the current dip, there's no guarantee a rising tide would lift all boats.

What they're saying: "Obviously the price is down significantly," Suarez told Fox News in February as MiamiCoin's value began plummeting. He remains committed to cryptocurrency — "I've never obsessed over the price, neither bitcoin nor MiamiCoin."
this was so lazy



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