Neosify - Buy, Stake & Earn Crypto
Neosify - Buy, Stake & Earn Crypto
Neosify - Buy, Stake & Earn Crypto

Miami and Reno - Crypto Bails Out Corrupt and Useless Politicians?

By davidgyoung | Alternative Investing | 13 Nov 2021

For the record - we detest politics.  However, since COVID we are forced to perhaps pay closer attention given how tyrannical things have become vis a vis individual liberties, freedom, and personal choice.  Pushing strictly politics aside, we can't help but wonder about how many of these corrupt scumbags will be bright enough to take a looksie around the crypto universe to see if they can identify some of the life preserving devices being offered to them. 

To wit - the NFT movement in Reno, NV.  The Mayor of Reno earlier in 2021 announced that the city is building a DAO and NFT system based on Tezos.  The initial move is to monetize art and sculptures related to the nearby Burning Man music festivalReno plans to use this to further explore NFTs and Tezos tech and how it can help the community and citizens.

Being from Boston and residing there, we can certainly appreciate these efforts.  Use the city's treasures, tourist attractions, and other unique features to take advantage of NFTs in a way that benefits the community and residents.  Build pride in the community and help the citizens gain more of a sense of ownership.  This is not brain surgery, but will local politicians allow themselves to look at these ideas with an open mind and not strictly through the lens of left versus right?

Miami on the other hand seems to be kicking these types of activities into overdrive.  The Mayor of Miami recently announced that his city will be the first in America to deliver a bitcoin yield in the form of a dividend to its residents.  This follows the creation of the MiamiCoin and presumably subsequent DeFi activity that is enabling these dividend payouts.  From our standpoint, it looks like Miami is conducting the dirty work of staking and DeFi and then skimming off the top while distributing a dividend to its residents.  Although that may not satisfy crypto purists, it is certainly at a minimum thinking outside the box of normal political discourse and fighting to identify forward looking options and solutions.  Also, with Taproot looming this is yet another way to further use the Lightning Network.

So, the question remains how many other jurisdictions will follow Reno and Miami?  In general, and if you take off your political "team jersey" momentarily, most of us can see that their is a very low level of satisfaction with government and politicians.  Crypto is offering a lifeline to these "leaders" and "experts" that are constantly lecturing us about how they and they only know what's best for the rest of us.  Will they accept this olive branch?  Sadly, our prediction is that most will not.  However, there will be pioneers like Miami and Reno in numbers that will be enough to move this opportunity forward in aggregate while trying to fight the good fight.  Same as it ever was in crypto. 

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davidgyoung Verified Member

BTC since 2013. Investor. Entrepreneur. Always looking to learn and develop.

Alternative Investing
Alternative Investing

This blog will explore ideas, news, and other interesting information related to alternative investing. Though we may discuss general macro finance, investing, economic issues and even more traditional investments like equities, bonds, and RE - the main focus will be on other options such as crowdfunding, crypto, collectibles, and more.

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