Miami not ditching its crypto despite record-low price, Mayor says



MiamiCoin is in its ‘first inning’: Mayor Suarez

Miami Mayor Francis Suarez discusses the city’s cryptocurrency innovative and revenue success despite its record-low stock price.

MAYOR FRANCIS SUAREZ: It’s been a success from the perspective of what it’s done for the city, right? It’s generated $20 million in revenue for the city because a percentage of the mining benefit is separated into a digital wallet for the city; that’s $5 million that we’ve used for rent stabilization funds, we’re seeing because of inflation, rents rising across the country. And the other $15 million, we’re doing something very innovative…

Obviously the price is down significantly. I’ve never obsessed over the price, neither bitcoin nor MiamiCoin. I think what Mark Cuban said is actually very accurate. This is in the first inning, all of these technologies. And what’s really important is, first of all, the liquidity rate, being able to get in and out of it because the utility is essentially what is going to be important as to whether or not any of these technologies survive in the long run. Are they very useful? Do they provide people the ability to exchange these currencies for goods in a variety of different countries? Do they allow for remittances? Do they break up authoritarian regimes because they don’t control the currency? I mean, there’s a lot of great use cases. And it remains to be seen whether they will all be utilized.

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44 comments

  1. Let's Go Brandon👍👍👍👍👍👍👍👍

  2. i think there will be civil war in canada and that will be the start of world war 3..

  3. dont people understand bit coins are a scam.

  4. He is a liar and will go to jail for this.

  5. He should reimburse everyone he conned into buying this crypto.

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  8. 👆🏻👆🏻👆🏻
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  9. How is it even legal for a civil servant to gamble with taxpayers money is beyond me.

  10. Doesn't make any sense to spread via Bitcoin, should pay your citizens MiamiCoin!

  11. Yes!!! The powers that be are all sleeping while shitcoins take over their game!!! Yeah!! I will buy that!!! What a load of nonsense! people are braindead today to believe this scam.

  12. Cryptos are a Ponzi SCHEME and the city if Miami should NOT ENDORSE SUCH TRASH

  13. <Great content, Love this! cause, you are actually pointing people in the right direction. I will advise traders especially newbies to have orientation of trading before they get involved in it because the market has been unstable, forget predictions and start making a good profit now because future valuation are all speculation and guesses. I have made over 11btc from day trading with Chad Leon strategies, insights and signals.

  14. Any time a crypto or bitcoin video pops up here comes the spammers.

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  16. People think Women cannot sit back and let their crypto do what it does👍

  17. Who the hell is he to invest/gamble/horse pick tax payer dollars?! The future is filled with scam artists.

  18. Can these coins go to negative value? Is th Mia coin limited in minting like botcoin?

  19. We the mayor is promoting mia coin if it is independent created by an independent company

  20. The events in Canada prove Crypto is worthless against government meddling. Crypto is modern day Monopoly money.

  21. How about record high sea levels ?

  22. Price is not important, i agree, but ¿ what are the fundamentals? sounds like the guy trying to sell me a Ford Pinto back in the day.

  23. look at what is happening in Canada … time for cripto currency

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  26. Today’s show, segment after segment, has been literally a giant free bitcoin infomercial. I bet Neil is heavily invested in it and he’s getting nervous.

  27. Miami’s Mayor has nuts on his chin. Not during this interview, of course. I’m talking about right now, my nuts are on his chin.

  28. Imagine a Mayor who actually HELPS his Citizens! We need somebody in Los Angeles, like THIS!

  29. BUYING MIAMI COIN NOW

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  30. When servers get hacked or power goes out. Gold and silver stand strong. Has all through out history. If you don't hold it you don't own it!

  31. Happy Presidents Day President Trump!💓💓💓💕💕💕

  32. 95% of trader lose learn to hold. No one goes from broke to rich without market pain. Stop selling and buying on emotion. Buy. Hold. Get through the pain. In 10years you"ll do great. Don't buy meme coins.

  33. >> i totally agree with you mate… The remnants with the recent deep plunge due to geopolitical tension between Russia and Ukraine caused a major havoc to the entire crypto, future and stock market.. I don't know how far will $BTC go down but it really cause havoc to the entire market.. I was able to grasp the knowledge of trading crypto assets early enough, but i was still limited due to my lack of technical understanding of how to analyse the digital market, all that changed when i encountered Larren Morris services., i started with 7.1 BTC and i have accumulated over 21 BTC in less than Eight weeks, , although i have been into numerous services but Larren stands out with experience and and making profit is his top priority..

  34. Take your money out of the bank and strike

  35. Why would they dump it? not a very good question…

  36. When it comes to the world of investing, most people don't know where to start.fortunately,great investors of the past and present can provide us with guidance

  37. People out there are taking the real money given to them for crypto, and using it to invest in real assets like metals and other commodities so their money goes to something tangible.