CityCoins - Add your favorite cities to your portfolio and earn BTC

I love the idea of creating a token for a local community of people. MiamiCoin (the first city and token from CityCoins) is almost like an opt-in tax where 30% of the value is given to the city itself to improve the city. But unlike traditional taxes, anyone in the world can buy in and potentially benefit in the upside if it appreciates. Personally, I'm keen to see what makers and developers build on top of this (CityCoins uses Stacks). Disclosure: I'm a tiny advisor in Patrick's co, Freehold, but I don't own any MiamiCoin, nor does anyone else. Mining starts August 3rd at 1pm ET.

Hey gang! Excited that the CityCoins community is activating the mining of MiamiCoin today. This is an ambitious project. Explained simply: - CityCoins give communities the power to improve their cities, while providing crypto rewards to individual contributors and city governments alike. - MiamiCoin is the first CityCoin to launch. Anyone can mine MiamiCoin, program MiamiCoin via smart contracts, and even earn BTC as the network is used more. So how do CityCoins work? CityCoins are powered by Stacks, a protocol that enables smart contracts on the Bitcoin network. There is no premine or ICO, anyone can compete to mine CityCoins by forwarding their STX tokens through the Stacks protocol. 30% of miners’ forwarded STX is directed into a wallet reserved for each city, and the remaining 70% can be stacked to yield STX and BTC. Activated cities that accept their reserved wallet will likely convert STX to USD. This is a vital part of the process as most cities are not permitted to hold cryptocurrencies on their balance sheets. Why CityCoins is kicking off in Miami Miami has long been a center of culture and innovation in the US, and over the last year the city has increasingly taken center stage as a startup city due to technologically progressive leadership. Mayor Suarez has expressed excitement for MiamiCoin and his enthusiasm is a testament to Miami’s culture of disruption and constant evolution. So how can cities actually use CityCoins? Starting with Miami, cities can elect to use their growing crypto treasury to redesign public spaces, improve city infrastructure, recruit crypto startups, and more. Starting today, developers can use MiamiCoin as fuel for smart contracts for Miami-focused apps. By design, any app that uses the token accrues value back to the City of Miami. Later today we'll be talking more about building with MiamiCoin with a notable gang: @rrhoover, @boredelonmusk and @muneeb. Sign up to join us on Twitter Spaces at 9am PT / 12pm ET: https://twitter.com/i/spaces/1mr... Questions? Ideas? We want to hear them. As a contributor to the project, I'll be here on Product Hunt all day today. Drop any questions in the comments below, share ideas for what you’d like to see built with MiamiCoin, and let us know what CityCoin you’d like to see launch next 🙌

Building a new civilization on Mars and other planets doesn't just require physical construction. Money is a critical building block of world-building, and we can test how money works long before we arrive on the red planet. CityCoins represents (to me) a powerful evolution of local/national monetary systems that can turn citizens into stakeholders of physical places. Kudos to the team for refining such a strong product, and I'm excited to see what municipalities do with it. Disclosure: I'm a tiny advisor in Patrick's co, Freehold, but I don't own any MiamiCoin, nor does anyone else. Mining starts August 3rd at 1pm ET.

Hi PHers, Today is the day! We are pleased to announce the launch of $MIA mining in collaboration with the CityCoins community. The community has been hard at work devising the best ways to mobilize the city-granted funds. Two of my favorite ideas I've seen posted: - CityCoins rewards pool: A community fundraiser that provides local bounties for things like neighborhood clean-ups, community artwork and donations to Miami Rescue Mission centers - Funding of long-term public initiatives: Allocation of funds to community-approved public-good projects such as financial literacy education. There are numerous use-cases that are beginning to emerge, and we want to hear your ideas. Leave a comment below with your suggestions or chat with us on discord! https://discord.gg/NvhUQKKGQN

Congrats on the launch! It's an interesting concept and a great timing! Remote work & nomading would make cities compete for people and their support. An instrument like that should allow for a faster improvement/innovation. One important thing I think should be addressed: how small cities/communities can benefit from this too?

MiamiCoin to the MOON!

So excited for this!!

Very excited for CityCoins! This is a truly unique project with asymmetric potential. Looking forward to today and to its future!

Hey Product Hunt! Really excited to see $MIA mining launch today! As @patrickwstanley noted above, CityCoins are built on Stacks. If you’re not familiar: Stacks is powerful because it makes Bitcoin programmable, enabling decentralized apps and smart contracts to run on the Bitcoin network. What this means for CityCoins is that they are able to generate protocol rewards in BTC, which puts BTC in the hands of local citizens everywhere :raised_hands: Any folks interested in mining $MIA should read this post that explains how mining and mining rewards work: https://www.citycoins.co/post/un...

As someone who has been in crypto since 2015, I've been waiting for an intersection between the public sector and crypto that actually makes sense for everyone. The CityCoins project is the first time I've seen that. It makes sense for cities and it makes sense for crypto enthusiasts. I'm excited to participate in the project and hope that it helps mayors and cities not only fund their goals, but also get educated about blockchain and crypto and spread that knowledge to their constituencies who will surely come up with even more, brilliant ideas complementary to this one.

As far as I understood from "Docs" - system has no limitation and number of blocks goes to infinity? Will it be the same for all cities? If so it looks like only large cities can benefit from this project.

great

Great idea! Who will be your users? Anonymous or verified users?

Love this idea and really excited to see where it goes. Massive props for the creative use of crypto.

Super excited to see MiamiCoin mining opening up! There's been a lot of momentum building around the CityCoins concept and today marks the first token being activated. We'd love to hear what other cities you want to see adopt CityCoins next: https://survey.citycoins.co/surv...

What an interesting take on crypto. Hopefully, people see this as a way to empower their communities.

LOVE this. Someone that is smarter than me - explain like I am 5 - how can I mine MIA?

Really interesting project, looking forward to see how it plays out in Miami (to start)...

Sounds cool!

Great idea!