Hi, I’m Bette Hochberger, CPA CGMA, and welcome to our very first Miami Monday. Miami, as you know, we’re trying to be the crypto capital, and our Mayor Suarez is dedicated to making the magic city the place to be for crypto. In a recent announcement, Okcoin, one of the world’s fastest-growing cryptocurrency trading platforms, announced that it’s opening a Miami office, and with it bringing potentially 100 jobs, which is fantastic. It joined other crypto companies, Blockchain.com, FTX, and eToro, coming to Miami.
In other Miami crypto news, which is super exciting, MiamiCoin is the first city coin to come to market. Woo hoo, it’s fantastic. It’s like a Bitcoin and is on the Blockchain protocol, so whenever that coin is mined, a percentage, actually 30% of what’s mined, goes to the city of Miami. So 70% goes to the miners, and Miami will benefit from the use of the coin and the great branding associated with it because if you want to be the crypto capital, you’ve got to have your cryptocurrency. It’s very cool. You want some MiamiCoin; you’re going to have to mine it. MiamiCoin’s powered by Stacks, a protocol that enables smart contracts on the Bitcoin network. Anyone can compete to mine MiamiCoin by forwarding their STX tokens through the protocol.
The Stacks web wallet is required to interact with the MiamiCoin smart contract on the Stacks blockchain. If you want some MiamiCoin, you’re going to have to start mining. I want some MiamiCoin. I think I’m going to have to start mining. What do you guys think? Are you going to go mine some Miami coin? Are you excited about the development of all this crypto growth and this tech growth in Miami? I’ve been here for a long time. I love seeing all of the change, companies moving here, and the tech industry booming in Miami. I’m excited, and I hope you enjoyed our first Miami Monday and drop a comment. Let me know what you’re mining. Let me know what your favorite cryptos are these days. We’ll see you next time.
Pssst…If you are interested in how cryptocurrency is taxed, I have a video about that also.