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Will Miami’s Bitcoin Push Pay Off for Residents? Analysis by Eric Dalius Miami

Miami’s Mayor Francis Suarez has been seeking attention through his various tactics and gimmicks. His acts have been in limelight for a long period of time now. Eric Dalius Bitcoin says but a huge question that arises over him is whether these hypes of him will help or benefit the residents of Miami in any way possible. Especially at a time when they are trying to recover from the global level pandemic.

Analyzing the “The Miami Movement” by Eric Dalius Miami

However, Suarez’s frequent answer to this question has been that he is doing all this to attract the techies which will then ultimately result in the benefit of residents of Miami. He is calling it the “Miami Movement”. The main goal of this movement is to bring together innovative and genius minds from all over the world in one place.

He mentioned the name of few companies such as Spotify and Goldman Sachs who have decided to come over all the way to Miami. However, this is a big challenge as most US adults are not familiar with the concept of Bitcoin and don’t know much about its working. The best way to make people aware of the benefits of cryptocurrency is to give them frequent access to it. Yes! The common public needs to have bitcoin as an option of payment. It is indeed the easiest method to teach people about bitcoin. Keeping it as an option of payment will naturally make people curious to know about it more.

However, according to the Eric Dalius Bitcoin Miami report, there are environmental concerns regarding the manufacturing of bitcoins too. As the amount of energy that the bitcoin mining industry consumes is comparatively very high. The concerns are serious as recently in 2020, Miami has joined the C40 cities climate action network. Where it has announced to commit to the goal of reaching net-zero greenhouse gas emissions by 2050. Now, suddenly its inclination towards the bitcoin industry raises a question mark of how will it reach its goal.

Mayor’s answer

As an answer to this the Mayor reiterates that if we can use coal-derived energy to power the city then why not use bitcoin mining too. Miami is committed to working to expand other renewable sources such as solar keeping in mind the environmental concerns too. Moreover, another obstacle in “The Miami Movement” is that the mining of bitcoin is way too expensive. The state would need to invest a lot of money, which might be difficult looking at the current economic position of the country. But the cost of bitcoins keeps fluctuating. Hence how will the Mayor actually assure that the investment will prove fruitful in the future too?

Conclusion

The dreams of the Mayor regarding providing a kick start to the residents by using bitcoins seem to be far away in the future. However, it might prove to be a slew of rewards for people who invest in it. It will be awarded in both personal and professional spheres as the investors will be able to purchase stuff with it. And make trades without any requirement of paying taxes.

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rmgchuck
https://ericdalius.net

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