Skip to content
 
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Quartz)   MiamiCoin collapses faster and harder than a poorly-maintained condo building   (qz.com) divider line
    More: Florida, Miami, Chicago, Local government, cryptocurrency MiamiCoin, New York City, city of Miami, Miami mayor Francis Suarez, MiamiCoin's creator  
•       •       •

742 clicks; posted to Business » on 17 May 2022 at 4:33 PM (7 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



17 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-05-17 4:17:23 PM  
MiamiCoin has lost nearly all of its value

That's...sort of a half-truth.
 
2022-05-17 4:22:35 PM  
They should have minted MiamiCoins out of 100% pure uncut Peruvian flake, just like they did way back in the day.
 
2022-05-17 4:51:49 PM  
Last seen walking away from the scene:

tse4.mm.bing.netView Full Size
 
2022-05-17 4:55:00 PM  
Can someone help me figure out the governance of Miami-Dade County? Does the mayor of the county have the real power? Or the (many) city mayors located in the county?
 
2022-05-17 5:35:14 PM  
FTFA: [The mayor] predicted the cryptocurrency could one day even replace municipal taxes as the government's primary source of funding.

So... if everybody is making money from crypto, where does this revenue come from? Is it manufactured out of thin air? How do people convince themselves this is possible without their brains leaking out of their ears?
 
2022-05-17 5:36:32 PM  
Fark user imageView Full Size

Burn it. Burn it all down.
 
2022-05-17 5:51:07 PM  
So if I'm understanding this CityCoins thing..  you're basically paying for other people to mine a worthwhile cryptocurrency, 30% of which goes to the city, and you receive MiamiCoin as basically the receipt with the expectation that maybe, one day, you might be able to use it as scrip a la Disney Dollars?
 
2022-05-17 6:02:39 PM  

fragMasterFlash: They should have minted MiamiCoins out of 100% pure uncut Peruvian flake, just like they did way back in the day.


What's the exchange rate to Canadian currency?
i1.sndcdn.comView Full Size
 
2022-05-17 6:03:44 PM  

falkone32: So if I'm understanding this CityCoins thing..  you're basically paying for other people to mine a worthwhile cryptocurrency, 30% of which goes to the city, and you receive MiamiCoin as basically the receipt with the expectation that maybe, one day, you might be able to use it as scrip a la Disney Dollars?


Don't be silly. Disney is in Orlando. This is Miami.
Their shitcoins are only redeemable at the jai alai casino.
 
2022-05-17 6:36:32 PM  
Miami Springs, Miami Gardens, Miami Shores, Aventura
 
2022-05-17 9:48:17 PM  
Fark user imageView Full Size
 
2022-05-17 9:50:19 PM  

Ivo Shandor: fragMasterFlash: They should have minted MiamiCoins out of 100% pure uncut Peruvian flake, just like they did way back in the day.

What's the exchange rate to Canadian currency?
[i1.sndcdn.com image 500x500]


I was wondering why Pontefract cakes cost so much in Canada.
 
2022-05-18 12:47:14 AM  
Would  you say that Miami is now underwater on their crypto?

yaleclimateconnections.orgView Full Size
 
2022-05-18 4:57:10 AM  

NewportBarGuy: Last seen walking away from the scene:

[tse4.mm.bing.net image 474x266]


Great little film that.
 
2022-05-18 9:34:55 AM  
Miami-Dade has sketchy shiat and corruption?

i.kym-cdn.comView Full Size
 
2022-05-18 2:15:47 PM  
They're almost on to something:   instead of using crypto as a grift to scam random people and enrich other random people, you could use it somewhat like a lottery to trick people into bankrolling the government despite their aversion to paying taxes.

The only problem here is that the city only gets a cut, and it's unethical to let some grifter company walk away with most of the public's wealth.
 
2022-05-18 7:18:41 PM  
Even as MiamiCoin's price plummets, Stanley insists that it can and will have practical applications soon. In an interview, he acknowledged legitimate criticisms of cryptocurrencies, a space rife with scams, deceit, and puffery, but insisted CityCoins is an exception, a rare crypto product with transformative potential.


so much wankery
 
Displayed 17 of 17 comments

View Voting Results: Smartest and Funniest

This thread is closed to new comments.

Continue Farking




On Twitter


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.