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On the Expo2020 in Dubai I was happy to visit El Salvador pavilions. Honestly speaking - I think that's the best in its category (among the small pavilions).

You will see a mix of audio-visual presentations, such as the one below, which has strong message of "Bitcoin city", then in other room you have another presentation which shows the city, nature and the life there. And then - in a cafe room you can taste local coffee. And finally, near the exit - you can see they have a radio room, and they are broadcasting there. So it looks like El Salvador used the most from the space it had. And now I hope to visit it and sharing with you this short video

https://www.youtube.com/watch?v=mLcchrbZtCs

Was it you taking the video?

I still couldn't wrap my head around a "bitcoin city" since it will be tough to sustain it. I guess the no tax policy mentioned by the speaker would be enough to encourage investors and tourists. Did they hand out materials on how it would look like?

I am glad that El Salvador seems to have a good roadmap to its Bitcoin City and yes this can be a concept that can also carry its tourism industry. Definitely, the Bitcoin City can be attracting many big and small players into the country. We will see if the decision of its current president to go for Bitcoin can be resulting into many good economic gains. And I am hoping they will never yield to the pressures coming from legacy financial institutions to let go of Bitcoin.

Is the city didn't build get?, I watch forest and natural place still on plans, the government shouldn prepare alot of state budget  for that, and with bitcoin, the president's dream come true

President Nayeb bukele said, bitcoin will make it easier for elsalvador people to make transactions, even though there are many obstacles and obstacles and criticisms received by nayib bukele, but never once dampened nayib bukele's intention to back down in defending bitcoin, even the IMF has urged nayeb bukele to revoke bitcoin as a legal tender, even casually Nayib bukele replied to the tweet with a sarcastic sentence, Nayeb bukele has a stand he believes in him adopting bitcoin, he believes there will be many bitcoin holders to visit their country, to see all the tourism there, thus Their country's economy will improve with the entry of migrants into their country.

imagine it like "silicon valley"
where like 30% of all workers are in the tech industry. sharing a common view of innovation. where the other 70% are normal retailers taking funds from the tech entrepreneurs. and real estate selling housing to the techies.

it becomes a opportunity where by if there was 70,000 jobs before, there would be 100,000 jobs after

thus because a tech currency is also involved in the industry, it would become common place to accept btc to buy houses in suburbs and food in malls.

much like how the wild west era, people didnt trade bank notes printed in the east.. but instead gold nuggets locally in the western towns near gold mines.

there currently is no 'city'(of any currency) in the area near the volcano.
but they want to build one.
this is so they can first build a geothermal power plant. and then housing for the workers. and then shops/entertainment venues for the workers. where some of the geothermal energy is to power bitcoin asic farms which would easily pay for the geothermal plant investment.

EG
why need to build say 16,250 houses just to get a 32,500kw/h consumption after like 2 years of building and then offering up them houses..where those 16k residents need to pay their bills.... its a slow, unpromised delay for ROI for the geothermal investment
its not easy, cheap, fast to build 16k houses if there is no 16k jobs available in the area. and the geothermal plant only gets paid after people move in.
meaning it can take more then 2 years to build up a whole new area/economy based on old fiat economy. as its a balance of creating jobs and attracting workers and then getting them workers in a position to get a mortgage for a house locally instead of commuting to work

where as el salvador can easily get that income of 32500kw/h by just having 1 factory of 10,000 asics that can be up and running in 3 months and paying upfront the 32500kw/h via allotment contracts(requiring say just 100 houses for asic farm employees, in the first 3 months)

then that income can fund expansion while they build out the housing over the next couple years
they can pay off/grow 1mw of geothermal build cost every 90 days

EG comparing building a btc city vs traditional city in best case of traditional city growth to capacity in 2 years
timescale   0mon      3mon       6mon      9mon      12mon      15m     18mon     21mon      24mon
     asic      $2.8m     $2.8m     $2.8m      $2.8m     $2.8m     $2.8m    $2.8m     $2.8m       $2.8m      (25.2m after 2 years)
housing       $0        $0.35m    $0.7m     $1.05m    $1.4m    $1.75m   $2.1m     $2.45m      $2.8m     (14.35m after 2 years)

EG expansion/pay off geothermal
timescale   0mon      3mon         6mon        9mon      12mon      15m       18mon     21mon      24mon
     asic      1mw        1mw          1mw         1mw         1mw       1mw       1mw        1mw         1mw        (9mw after 2 years)
housing     0mw      0.125mw   0.25mw   0.375mw     0.5mw   0.625mw  0.75mw   0.875mw    1mw        (4.5mw after 2 years)

Once I found out about El Salvador's policy regarding Bitcoin, I could feel nothing but respect to the President Nayib Bukele and people of this beautiful country. I knew it, and was writing about it, that other countries will follow, and now I'm so happy to see that it's happening already. Today it's all over the news, and not only on crypto related sites, that Ukraine legalises cryptocurrencies

https://i.imgur.com/yFyWslx.png

But however many countries will do the same thing, we'll never forget El Salvador, the first one who made the right decision.

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Thanks for sharing the video, but I think we can save 97 seconds of our time, and start watching it from this moment :)

https://youtu.be/mLcchrbZtCs?t=97

The road to mass adoption is so very clear now no doubt, a drop of water makes an ocean, i remember when the news of El-salvador legalizing btc was published here in the forum, some members thought it won't hold much ground because El-Salvador was a small country that is hardly known by many but i guess little actions can result to something big, they may be a small country but the action was big, now other big countries who were afraid before will boldly take that step if they want to, thanks to El-salvador
am very proud of this country, even with the pressure from IMF they didn't backdown, there goal was very clear and they are ready to see it through, kudos to the president.

They should've focused more on that segment since it's something that's missing in other countries... Don't get me wrong, it seems like a beautiful country ^{[for the most part]}, but tech-related matters tend to grab more attention in today's world and I think they should capitalize on it.
^{- For those who want to see the other parts, you can refer to "this video (https://youtu.be/nzn0NOZKB1M?t=130)".}

It's worth noting that it's not a legal tender in Ukraine.

El Salvador seems to be doing everything they could to publish their name as bitcoin city. They are truly being very strong over and over again. Since the day they started legal adoption of the bitcoin I was little skeptical about the whole Bitcoin City story. But Sam we are here now, there is always name of El Salvador after every few talks. I think this is how one famous name keeps going on and sets an example for the rest.

They went into the richest country around the world and promoted bitcoin there is coolest thing here. I just hope they keep doing this ever and ever.

It is an ambitious project, and certainly something that is not easily achievable, but if they have the vision to do it, they will certainly do everything to make it a realization. El Salvador has been praised and criticized for their decision in adopting bitcoin as a legal tender in the country, but so far it seems that that decision helped them gain recognition for their country that can soon help them boost their economy as well.

the UK pound, US dollar, Euro are not legal tender in Ukraine.. but that doesnt mean it cant be used as a currency for voluntary payment between individuals or exchange within businesses/payment services
shares are not legal tender but that doesnt mean shares are illegal

legal tender is just the official countries native currency. it has no bearing on if other currencies are ilegal by not being a countries legal tender.

UKraine now legally recognises BTC much the same standing as it recognises the dollar, pound, ruble, shares, stocks or assets.

El Salvador legalizes bitcoin as a legal currency and means of payment because they do not have their own fiat and may differ from the legality of bitcoin in Ukraine. El Salvador is one of those countries brave enough to consider bitcoin a currency regardless of the reason it wants to save on its annual remittances.

Other countries may consider the steps taken by El Salvador in the future but only if El Salvador manages to improve its economy after this adoption continues for the next few years. It may be easy to expect the adoption of bitcoin as a currency in any country that does not have its own currency, but it is difficult for any country that has had its own fiat currency for many years. Adoption is expected to give people the option of using it as a means of payment, but perhaps not as a currency.

I haven't watched the video. But definitely I would watch it. In my honest opinion, El Salvador has become more exposed to the world, before now few things could make me get interested in El Salvador, but since the started getting involved in crypto-currency, things has changed for them, I wish other countries that are trying to grow can emulate El Salvador and get more into crypto-currency.

That's what bitcoin could bring into a country, more than fame and popularity, there is always the hope for the country to have economy's progress and development. And i think El Salvador is not disappointed with the result, because bitcoin made the country attract more tourists and investors that could certainly bring more profits into the country. This is just the beginning, i'm sure there are a lot of more positive things intended to happen in El Salvador.

While watching the video I remembered that a bitcoin city will increase number of Bitcoin ATMs in the world as so many will be installed in such city for people to use. Bitcoin, is almost a global term and many countries are looking for a means to diversify their economy towards the potentials of the digital currency. I always think of a city like this, that will be tax free, such that the Government can employ lots of bitcoin miners in the city and provide enough power for them to mine and they'll take the daily rewards or fees as tax from the citizens. If such an Idealogy gets deployed in the bitcoin city then such city will get completely decentralized and few people will have a little to do with fiat and many people will transact using bitcoin to provide tax for the Government through transaction fees.

Wow! While I haven't been there, I assume this small country has so much to offer as far as natural wonders are concerned. They have such a beautiful location and a very nice climate as well.

But what really amazed me is that despite the short allotted time, they devoted a good portion of it to introduce their Bitcoin City, and that they have a couple of legal tenders: the USD and Bitcoin. But what was really attractive, especially among investors, is the line "there will be no taxes."

I wish El Salvador the best!

They have adopted bitcoin as legal tender last year and despite of the warning of IMF and other bodies they are reluctant to invest at dips and now this whole bitcoin city is fascinating.They are now always in talks with their new upcoming projects related to bitcoin and much of the famous one is this whole city and now the promotion at the expo are also good.Will see how they gonna proceed the things further but happy to see their btc postive approach.

Simply put, El-Salvador are unstoppable on their quest to make btc the number one currency in the country, if they didn't back down to imf threats i don't think they will for anything else, just the mare display of not being weak is something commendable, i think the president already made it clear enough to the whole world their stand in digital currency, i have nothing but respect for El-Salvador especially president bukele, Bitcoin City is already making history.

There are already several Bitcoin Cities... and one of the originals is in Arnhem, Netherlands (http://www.arnhembitcoinstad.nl). And while it's far from being a super Bitcoin-accepted-everywhere city, it's still one of the most realistic examples of how one should look like. A healthy, vibrant network of local merchants and dwellers and tourists who want to spend Bitcoin and want to try out new tech, not because their mayor or president incentivised them to.

What exactly impressed you anyway? Anyone remember when Akon got land from the government to build his own fantasy crypto city with Akon coin or whatever? I wonder what happened to that dream.

I agree, Bitcoin is not a legal tender in Ukraine yet, but isn't it obvious that that will be the next move?


Yeah, that's great, but I think they(the Ukrainian government) are capable of more than that. I really hope that Ukraine will be the next El Salvador in this regard, and other countries will follow sooner or later.

The latest news from El Salvador have rolled out. In this announcement it was said about the plans of providing citizenship to foreign investors. In the news it isn't mentioned specific about the cryptocurrency investors. Finally said El Salvador as the "land of bitcoin freedom" which prioritise the cryptocurrency investors.

Other countries following El Salvador the are Turkey, Malta, and few countries from Caribbean.

El Salvador President Nayib Bukele also planned to launch $1 billion in Bitcoin Bonds by the falling month. Through these funds it is aimed to finance the creation of the “Bitcoin City"

Congratulations to them ! Honestly it's really rare to see something like that I did think that I would have to wait for at least 10 years to see what they did. They did not only give way for the green mining, they did not only reduce their carbon footprint at the same time they make it so accessible to everyone in that country as well. This was not done in a day!

There were major banks opposing this, they said they won't give them their investments if they did not halt the project.

The volcanic bonds is entirely a new concept on such a large scale! This is going to be extremely profitable for the country. Waiting to see how it goes for real.

They do deserve it actually since they are indeed the first who do make out Bitcoin as a legal tender which it does really fit out for that title.Yes, its hard to believe yet we know on how volatility works
but still they are hanging on it.
Lots of bad impression and views on regarding into their decision but it is really that possible for it to be integrated.I have watched the video and i dont really contradict of those.
You could really see that they are really proud on calling that First Bitcoin City.

You're right, I am thinking this might also be a quick decision for Russia as well considering the possible sanctions that the US, Canada, UK, and EU, in general, are planning on imposing on Russia for the move they have made against Ukraine. I am seeing a lot of financial restrain if those sanctions are actually announced which might also lead to a full-blown adoption of Bitcoin in Russia.

Different reasons will make different countries adopt Bitcoin at different times and as you said, the  President El Salvador Nayib Bukele
will be forever remembered for taking this bold step.
   

Let's face it, the young President trying to make a name for himself has made the country a guinea pig and since he bought higher than current prices - has cost each citizen a fair chunk of money. Sure Bitcoin might go higher in future, but it is simply impractical as a day to day means to carry out transactions. The primary beneficial purpose is transferring money across borders without incurring large fees, which could have been regulated without creating another official currency. The average person will simply be unlikely to benefit from this beyond the bribe of free money that they got at the beginning. If they had pioneered something new, like their own stablecoin, that might have been worth it.

Whats the alternative though?
Stick with a massively inflated currency which isnt your own and you have no control
over anyway - nope

As mentioned in some earlier post the real fain for anybody in El Salvador currently
is the massively cheaper fees for transfer of funds and wealth where they previously
would use Western Union.

The plans for Bitcoin City are massive and adventurous, I think its just a matter of financing
it, everything else is possible.

I liked the video too, I like how the host was selling his country and Bitcoin is a part of it.

This is such a very interesting experience to visit and attend that kind of special event.
From this, we can see how El Salvador is really proud t announce their legal tender of Bitcoin in their country. We can see how enthusiasts explain to the world about Bitcoin and they become the first.
Hopefully from this event, many more people will know about Bitcoin, many more countries and partis will be opened to Bitcoin, not agai spreading any unecessary FUD again although it seems to be very difficult not to get any FUD anymore because Bitcoin also has many haters  ;D

They have the rights in doing so since they are the first city who had made out Bitcoin as a legal tender which its clear on that guy explaining into public or people which he's proud off that their place had able to adopt
such tech and made out those changes that never country had able to done.Even though its a bit short in terms of introduction but much sure that it would really be making out some
curiosity into those people who had watched or listen to that dude.

They are indeed trying to attract investors, or potential crypto projects in their country and become the new hub. If I'm not mistaken, there are countries as well who are providing this kind of incentives to foreigners.

Nevertheless, since El Salvador is in the limelight as of late, then they will might be promoting their country with this kind of marketing. And it's interesting if they are going to have foreign investors in their doorsteps in the next couple of months.

You're right, but I never implied it was illegal.

Although you're right, I still don't think the numbers will be significant enough to match what we already have in some of the cities in Canada and the US... San Salvador currently has "roughly 60 BTMs (https://coinatmradar.com/state/75/bitcoin-atm-san-salvador/) ^{[the highest amount among all of the cities in El Salvador]}", so I expect Bitcoin city to have less than a hundred BTMs ^{[when it's ready]}.

It's one of those things that could go either way ^{[I agree with @Falconer (https://bitcointalk.org/index.php?topic=5386183.msg59293442#msg59293442)'s comment]}.

Impeccable timing...

In some of the news I read El Salvador is very serious about Bitcoin. They remain convinced, although there are certainly consequences that must be received from the IMF. It seems like they are quite blown away with the arrival of bearish times but some time ago they made another purchase to increase the amount of their bitcoins. Somehow the source of funds, if bitcoin is going to continue to fall maybe they could be a country that will meet destruction due to financial inflation and the country's depleted financial reserves. But if that doesn't happen and bitcoin continues to rise then El Salvador will certainly benefit a lot. Let's see how they survive and how they will succeed. Because the bearish phase seems to be repeated if you look at the Bitcoin Halving cycle.

Originals? But are there fake btc cities too? Or you mean original because they are the first btc city before El Salvador? But, the way you define this city is more convincing than how the op define the btc city of El Salvador. Other btc city should get their inspiration from this city if they wanted to become successful.

If only that city accepts btc everywhere like what the El Salvador did, I think this city can do more better than what they are currently showing. I too remember that Akon coin but I did not remember that there is also an akon city. I think the reason why is because it was a failed project and if it was successful, everyone will be talking about it.

Yes, it was me
Actually I didn't expect this post here will generate so many responses and thank you to everyone who sent merit to me

Just not so long ago I was in Dubai and visited this pavilion, and a week after I returned to Ukraine and Russia attacked my country.
russians are bombing and killing civilians, and it feels - FEW YEARS passed since I made that video

Why I mention this because I'm confident that Ukraine after winning this war will become one of the major countries
And I'm thankful to everyone who contributed to the victory with your BTC, with your crypto

Guys thanks everyone for the interesting conversations here

Thanks all that even after a while - you keep sending me merit

Speaking about Ukraine, and that's my home country - we will grow Bitcoin and crypto business no matter what the government will do in terms of legalization

Ok, let's imagine Bitcoin is legal so what? This will attract new entrepreneurs and businesses?
Maybe to some extent - but we have other benefits, such as big community of developers and crypto enthusiats, lower prices than in many other countries

Even if you earn 0.1 BTC month - you can have very high standard of living

And now as we have war with russia, I think - it's time to come and start businesses. Time to build, time to invest!

Yes, you might risk your capital more than in other countries, but others are risking their lives...