RE: MiamiCoin: Printing Money Out Of Thin Air
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Do they have anything in place to keep people from outside of the geographic area from mining the token? It would be interesting to know if anyone anywhere can mine the token. I guess since the city gets the tokens it doesn't really matter, but it could be a legal nightmare I think. Under the current system anyway.
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I think anyone can mine it. The miners get a percentage of the tokens also. So it is open to all.
No reasons anyone else cannot get into it.
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I wonder then if they have any safeguards in place to keep rogue players from monopolizing all the mining.
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I have not looked into it close enough.
This is not set up by the City of Miami but the platform CityCoin.
They are rolling out 8 or 9 other coins. San Francisco is next.
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Ah, okay. That does change things a bit!