ClaimsBalaji Srinivasan

“Miami has accepted some city coins and Texas is big in Bitcoin minings.”

Balaji Srinivasan, interviewee 17 November 2021 Tim Ferriss Show #547 Balaji Srinivasan transcript (tim.blog)

Factual AI policy and governance

Miami has accepted some city coins and Texas is big in Bitcoin mining.

Mostly true True in substance, wrong in a detail.

Factual: Statements about the present or the past, checked against the record: did they hold up?

The second judge would not resolve this claim; the verdict shown is the first judge's.

What would count as true or false

The claim has two parts, judged as of 17 November 2021: (a) the City of Miami had accepted some city coins (for example MiamiCoin proceeds via CityCoins), and (b) Texas was a major Bitcoin mining location. True: both hold. That means official city records or reliable reporting show Miami formally accepted city-coin funds or holdings by that date, and hashrate data (e.g. the Cambridge Bitcoin Electricity Consumption Index) or reliable reporting show Texas was a leading US mining hub at the time. Mostly true: both broadly hold, with a minor imprecision, such as Miami having voted to accept the funds before actually receiving them. Mixed: only one of the two parts holds. Mostly false: both rest on something real but are overstated, such as Miami only discussing the coin without accepting it while Texas was only an emerging mining location. False: records show Miami had not accepted any city coin, and Texas was not a significant mining location.

Set before the research began.

Evidence (4)

  1. E1 Miami Mayor to hand out profits from Bitcoin based MiamiCoin among residents Indian Express · 12 November 2021

    “The cryptocurrency has generated over $21 million in the past three months for the city.”
  2. E2 Miami Mayor to hand out profits from Bitcoin based MiamiCoin among residents Indian Express · 12 November 2021

    “It is worth noting that MiamiCoin was launched in August through CityCoins, which is based on Bitcoin technology, an open-source protocol that allocates 30 percent of its reward to cities when their coins are bought or mined.”
  3. E3 New York and Texas are winning the war to attract bitcoin miners CNBC · 9 October 2021

    “Texas may rank fourth according to Foundry's data set, but many experts believe there is no question that it is the leading jurisdiction for miners right now.”
  4. E4 Cities That Hyped Crypto Are Now Contending With the Crash Route Fifty · 19 May 2022

    “as the municipalities do not own or invest in the currency and do not accept it as payment.”

Reasoning

E1 and E2 report that MiamiCoin launched through CityCoins in August 2021 and had generated over $21 million for the city, with the mayor planning to hand out the profits. This indicates Miami had taken on city-coin proceeds, but neither source documents a formal acceptance. E4 says municipalities did not accept the currency as payment, which is a different matter from accepting the proceeds. E3 reports that many experts saw Texas as the leading jurisdiction for Bitcoin miners in October 2021, though it may rank fourth in Foundry's data set, so both parts broadly hold with minor imprecision.

Cite this claim

Balaji Srinivasan, “Miami has accepted some city coins and Texas is big in Bitcoin mining.” (said 17 November 2021). Verdict: mostly true. Reliability API, claim c_37ebcf0cf538, method 0.1.0+c876030c, dataset release v1.1.2. https://epistacklabs.com/claims/c_37ebcf0cf538

This claim is in dataset release v1.1.2, with the same verdict.

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All of them

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