by Mars Neter

The name "Bitcoin City" was given to Miami due to the city's adoption and promotion of Bitcoin. In February 2021, Mayor Suarez proposed that the city should explore the possibility of investing a portion of its treasury reserves in Bitcoin. Later that year, he also announced plans to pay city employees in Bitcoin and to allow residents to pay their taxes and fees using Bitcoin

Miami has also hosted a number of Bitcoin and crypto-related events, such as the Bitcoin Conference, which drew thousands of attendees from around the world. In addition, a number of crypto and blockchain companies have set up offices in the city.

In order to bring awareness to Bitcoin City, the Mayor decided that they would use Stacks' City Coin protocol to pay its employees. This is one of the biggest failures in my eyes. The city raised over $15 million that residents never saw. The project flatlined and lost 95% of its value.

But with all of this happening, it seems that the people of Miami still have no idea what Bitcoin is and how it could be used in the future.

Many people still look at Bitcoin as a scam or invalid form of money. There is much to be said about the mixing of Bitcoin promotion with other crypto projects like FTX.

It is hard to educate or convince people that Bitcoin can be a resource when the news surrounding digital currency is all about unfortunate events. Without doing research on the companies that the city promotes, they've made Bitcoin less likeable.

The city of Miami created a Crypto Task Force that would consult government workers and politicians on the benefits of crypto. The task force has had many meetings to which I cannot give you examples of manifestation.

It seems that Bitcoin and Crypto has been used as marketing terms to bring in more capital from Investors rather than build the financial health of its residents. Which is all unfortunate and leaves me with the question, is Miami really the 'Bitcoin City' ?

Miami Based Organization focused on educating the Black Community on everything Bitcoin. We host Meetups and educational workshops.

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