Bitcoin Forum

So i've seen this announcement about a coin that will support a city which will go 100% crypto.
What ya guys think?

I've read this too but actually I don't believe it. The idea is fantastic but I'm wondering about the taxation. So far I know there exist no country accepting any kind of cryptos for paying bills like electricity or the taxes. How will it be possible to work for crypto and pay the public services in fiat? They are going to exchange alts for fiat? i don't find it practical. However if it is real it could be a good start and a perfect example for more places of the world.

Agreed. I don't believe it too. 100%? If its true, I don't think that it will be impelemented properly. And do the people in the city agreed to this? I doubt that all of them knows about crypto

I don't think it will be real soon. Well, which city? Even the government would support it, it would be difficult to implement it to everyone. So, I think there was no enough basis with that statement.

Basically, you do need taxes if everything in the city is privatized. The same with electricity and other utilities - there can be several competing companies. On the other hand, it's the concept is still rather unfeasible as far as crypto is still pretty remote from mass adoption.

If you state something like this could you please add some sources? Wuthout sources everyone can come and claim something like „I heared The Aliens from the Earth Moon have said that they moved to Finland, making their own ICO of AlienFinCoin.“

If this could be happen then it is good, the other city can also used that system to be full crypto but this take a while, because we can't vanish instantly the fiat in the market and even on the people, this must be huge implementation of cryptos in the area and it's not easy.

I don't think that this is something worthwhile even if true. Eventually we know that it is going to decline because real world use of crypto doesn't prove as convenient as for electronic payments. Those stores that accept crypto do it for a PR boost if they are doing it on a physical location. Usage had always been low.

A whole city going crypto? Sounds amazing but at least you can add sources to promote further reading. I believe and hope that this city utilizes the blockchain technology to the maximum and takes crypto to another level which will attract other cities to follow the same trend.

This is the location: La Tortuga is located in Puerto Peñasco municipality in the state of Sonora, Mexico.
It's on their website http://www.keystonecurrency.com

They have a Discord where ive been asking around.

Sounds more like a pump and dump scam to be honest.

Itwill be nightmare with the transaction cost!