Miami Coin Continues to Generate Massive Revenue
We’ve sure written a lot of Miami Coin news lately. We’ve also heaped a lot of praise on the new cryptocurrency and it is all warranted. Miami Coin (MIA) has become the first crypto of any American city and has mainstreamed faster than Bitcoin. Now we have a massive update from the Washington Post on future plans for MIA. City Coins could disrupt the entire tax collection model for crypto-friendly start up cities.
Miami Mayor Francis Suarez has a plan to transform the city into the world’s “cryptocurrency innovation hub,” and one of the outcomes, he claims, could be a metropolis free from taxes.
Since CityCoins unveiled “MiamiCoin” in August, the protocol has sent about $7.1 million to Miami. (City commissioners agreed to accept the donations on Sept. 13.)
Revenue generation from MIA has jumped from $4.5 million a few weeks back to $7.1 million today. And that isn’t even the big story here!
While the program is still in its infancy, Suarez (R) estimates the effort could generate as much as $60 million for Miami over the next year and ultimately “revolutionize” how the city funds programs that address poverty and other societal issues.
“When you think about the possibility of being able to run a government without the citizens having to pay taxes. That’s incredible,” Suarez said, adding that the partnership creates a “counternarrative” to the idea that city programs require raising taxes or “private sector philanthropy.”
Could Miami Become a Tax-Free City?
Francis Suarez, America’s Crypto Mayor, just floated of running a government without taxing its citizens!
I’m sure we will expect much debate regarding whether a truly zero-tax city is even possible. But we can all agree that is one incredible statement and possible outcome for MIA. The vision of Mayor Suarez should cause talented and wealthy members of the cryptoverse to consider making the 305 their new home.
Miami Will Steal Talent From Across the Country
We will see a massive migration of those with the means to move to Miami from their current locale. Just a quick cost-benefit analysis here. Let’s compare the most populous American metropolis, New York City with Miami. Would you rather live:
- Where the state income tax is between 6% and 9% or where the state tax is 0%?
- Where the city local income tax is around 3.8% or where there is no city income tax?
- Sales and Use Tax of 8.875% or 7%?
- In a state that puts up roadblocks to buying crypto, or the crypto-friendly city?
- Where businesses are suffocating from Soviet-like vaccine passports requirements? Or where the economy is open?
At this point, year-round warm weather is just a bonus. If you’re making north of $100K in New York City, you’d be silly not to deeply consider jumping ship, especially if you’re working remotely. Anyone making $100,000 gets a minimum $10,000 back every year in reclaimed lost income from taxation. The best part, that’s money that they didn’t have to ask for a raise or work any harder to acquire. If they miss New York City’s charm, hot dog carts and memorable stench that much, they can visit. $10K will more than cover the airfare.
Suarez vision could disrupt the current municipal taxation system. Less taxes on Miami citizens will ensure that more crypto-centric people will flock to the 305. But that’s not all of the good Miami Coin news… any one of you reading this can invest in MIA. Yes, that’s right, even you!
Miami Coin Crypto – How to Buy It
You don’t have to live in Miami to invest in MIA. Miami Coin (MIA) is now available for purchase on one exchange, OKCoin. You can start investing in MIA coin today and receive a FREE $50 in Bitcoin for signing up with OKCoin. What’s better than free money? Free crypto!
How to Stake Miami Coin
In perhaps the best Miami Coin news yet, MIA can be staked for incredible returns. Staking the Miami Coin (MIA) on OK Coin can earn you 430% Annual Percentage Yield, paid in Stacks (Stacks is the coin for the protocol on which MIA is run). When Stacks (STX) increases in price the yields become steeper. Compare that with the
dogshit 1% to 2% APY that you earn on a savings deposit at your corporate bank. OKCoin makes it easy for you to earn yields that would leave professional money managers looking like this.
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-The Crypto Trend Analyst Team