Will Miami become the Bitcoin Capital of the world?

It's just two months since the city hosted Bitcoin Miami and promised to become the Bitcoin (BTC) capital of the world. Now, Miami has snatched the crypto headlines once again as it launches its own digital currency, MiamiCoin (MIA).

Is Miami coin a ad for Miami?

It’s a concept that can bring enormous, long-term benefits to thousands of Miamians—while simultaneously posing a threat to the city’s budget itself if the cryptocurrency falls into the wrong hands. One thing is for sure — Miami Coin is more than an ad for Miami.

What is miamicoin (Mia)?

The process relies on the Stacks protocol, which is an open-source network that works alongside the Stacks blockchain. MiamiCoin ($MIA), is the first CityCoin to market. In short, 30 percent of the yield is collected in a wallet reserved for Miami, while the remaining 70 percent goes to the miner.

How will the city make bitcoin payments?

The city will make the payments through a digital wallet and will work with a variety of cryptocurrency exchanges to allow its residents to acquire a wallet, register and get verified, the mayor said. “ [Mayor Suarez] just turned his city into an oil-producing country that gives bitcoin yield to its citizens.