Miami will hand out free Bitcoin to residents from profits on city coin

cointelegraph.com:

Every Miami resident with a digital wallet will be eligible to receive a Bitcoin dividend according to Mayor Francis Suarez. 

“We’re going to be the very first city in America to give Bitcoin yield as a dividend directly to its residents,” Suarez said in an interview on Nov. 11.

Citycoins launched the MiamiCoin cryptocurrency in August, which helps fund municipal projects by generating yield.

Staking MiamiCoin has generated yields in excess of $21 million for the city. Its reserve wallet converts MiamiCoin deposits into USD based on commands from city officials. Suarez said that if yields continue at that rate, it’s possible that they could entirely cover the city’s tax needs.

“Why don’t you just tax people less?”

Why don't you just tax people