First Bitcoin City

[DdmrDdmr]

I’ve been reading though an article and El Salvador’s Presidential House Twitter, and there are some clues as to how the city is meant to look like:

-   The city will be circular in shape, with a large B in it’s centre (it’s actually not going to be a complete circle, since there’s the volcano on the rim of the city (*)).
-   They will install the Bitcoin Museum under the B.
-   The plan is to have:
      50% for the residential areas
      20% for social recreation
      10% for green areas
       8% for industries and offices
       7% for installing digital equipment (whatever that means)
       3% for the eco-infrastructure
       2% for transportation


See:
https://www-criptonoticias-com.translate.goog/comunidad/asi-sera-bitcoin-city-metropoli-circular-salvador/?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=nui
https://twitter.com/PresidenciaSV/status/1450512052427034640
(*) https://www.volcanodiscovery.com/es/conchagua.html

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[bL4nkcode]

A literally meaning of "In bitcoin we trust", trusting that bitcoin will only have one direction, to rise.

While this project really having huge risks, but this will cause huge benefits to them, investors, and to the whole bitcoin community. Wish them luck 

[Doell]

will become a historic city ,will make other countries open their eyes as wide as possible to make bitcoin legal ,will be more investors ,will see bitcoin hit highs that exceed expectations in 2023 ! I'm sure the price will keep pumping and the news is a very positive reality for bitcoin user !

[tomahawk9]

interesting that this Bitcoin City stuff was announced right before the US chargée d'affaires to el Salvador, Jean Manes, stated that she's going to "leave the country because Bukele's goverment doesn't show any interest in improving the bilateral relationship with the US" ^[1]

I like the video they made to promote it...

https://www.youtube.com/watch?v=cS9qCre_sv8

Are you sure with the YT link, the video was in 2015 and not mentioning about bitcoin city but electric city? Don't know if I am missing something here.

1. https://www.elsalvador.com/noticias/nacional/jean-manes-abandona-el-salvador-advierte-pausa-relacion-con-estados-unidos/902507/2021/

[Sirait]

A literally meaning of "In bitcoin we trust", trusting that bitcoin will only have one direction, to rise.

While this project really having huge risks, but this will cause huge benefits to them, investors, and to the whole bitcoin community. Wish them luck 

I'm sure their country will be very lucky because fully support bitcoin. el salvador relentlessly prints history for their country, until whenever el salvador is very well recognized as the first country to fully support bitcoin and have no doubts about it.

[Wiwo]

El Salvador showed a lot of things we didn't expect to be the most loyal country in Bitcoin. And they deserve to spark a Bitcoin city where Bitcoin's presence is welcomed in this country. Whereas previously Bitcoin was an enemy that the government of a country had to fight. But El Salvador opened our eyes, that Bitcoin can live among us without needing to attack each other. Because the merger of the government with Bitcoin actually became the beginning of a pilot country to open the world's eyes wide to the existence of Bitcoin.

The el Salvador president have seen the future and what the economy stand to gain from this initiative to adopt cryptocurrency as a full legal currency, establishing this Bitcoin city will serve as a business hob for cryptocurrency activities which will be first in the world.

[nelson4lov]

What El Salvador government is doing is very fascinating. A free trade zone for Bitcoin would push crypto adoption for all participants in the city to the next level since all entities and parties won't hod themselves back whether they're offering a business or a service. What would be really more interesting is for other countries to follow suit. I guess they won't until they see the success of El Salvador's.

[Sled]

El Salvador showed a lot of things we didn't expect to be the most loyal country in Bitcoin. And they deserve to spark a Bitcoin city where Bitcoin's presence is welcomed in this country. Whereas previously Bitcoin was an enemy that the government of a country had to fight. But El Salvador opened our eyes, that Bitcoin can live among us without needing to attack each other. Because the merger of the government with Bitcoin actually became the beginning of a pilot country to open the world's eyes wide to the existence of Bitcoin.

The el Salvador president have seen the future and what the economy stand to gain from this initiative to adopt cryptocurrency as a full legal currency, establishing this Bitcoin city will serve as a business hob for cryptocurrency activities which will be first in the world.

I think everyone does but it looks like El Salvador accepts the challenge and is willing to change its system by welcoming Bitcoin into their country. It has going to appreciate that much and this adoption makes the other countries to give some interest and possibly watching to what is happening in this country. But it looks like they are totally embracing and growing their funds and it can be said that this creates additional attraction and literally it boosts the trust of the merchants towards Bitcoin.

[aoluain]

What El Salvador government is doing is very fascinating. A free trade zone for Bitcoin would push crypto adoption for all participants in the city to the next level since all entities and parties won't hod themselves back whether they're offering a business or a service. What would be really more interesting is for other countries to follow suit. I guess they won't until they see the success of El Salvador's.

It is fascinating, they really have to try an alternative to the existing currency they
are using, the US Dollar which they have no control over. They are at the mercy of
another country devaluing their currency.

The countries to follow El Salvadors bold move will likely be the ones also using the US
Dollar > https://www.worlddata.info/currencies/usd-us-dollar.php

We can be sure that the El Salvadorian government have a road map for their Bitcoin
adoption and development while there are many who think they are "flying by the seat
of their pants". Bitcoin City is another step in the development.

[Vaculin]

El Salvador showed a lot of things we didn't expect to be the most loyal country in Bitcoin. And they deserve to spark a Bitcoin city where Bitcoin's presence is welcomed in this country. Whereas previously Bitcoin was an enemy that the government of a country had to fight. But El Salvador opened our eyes, that Bitcoin can live among us without needing to attack each other. Because the merger of the government with Bitcoin actually became the beginning of a pilot country to open the world's eyes wide to the existence of Bitcoin.

The el Salvador president have seen the future and what the economy stand to gain from this initiative to adopt cryptocurrency as a full legal currency, establishing this Bitcoin city will serve as a business hob for cryptocurrency activities which will be first in the world.

I think everyone does but it looks like El Salvador accepts the challenge and is willing to change its system by welcoming Bitcoin into their country. It has going to appreciate that much and this adoption makes the other countries to give some interest and possibly watching to what is happening in this country. But it looks like they are totally embracing and growing their funds and it can be said that this creates additional attraction and literally it boosts the trust of the merchants towards Bitcoin.

This is another history for bitcoin that only El Salvador has the guts to do it. For me, this is a big achievement for El Salvador as it has paved its way for a more attraction of profits and boost more big investors that will soon to come to adopt bitcoin. Kudos to the country's president as it was his own initiative and brilliant idea to lead El Salvador into a more progressive and well developed country. And expect that in the years to come, the citizens of El Salvador will start to reap the fruits of their hard work, and once it will happen, other big countries will also take the initiative to adopt bitcoin too for their country's progress. 

[romero121]

El Salvador showed a lot of things we didn't expect to be the most loyal country in Bitcoin. And they deserve to spark a Bitcoin city where Bitcoin's presence is welcomed in this country. Whereas previously Bitcoin was an enemy that the government of a country had to fight. But El Salvador opened our eyes, that Bitcoin can live among us without needing to attack each other. Because the merger of the government with Bitcoin actually became the beginning of a pilot country to open the world's eyes wide to the existence of Bitcoin.

The el Salvador president have seen the future and what the economy stand to gain from this initiative to adopt cryptocurrency as a full legal currency, establishing this Bitcoin city will serve as a business hob for cryptocurrency activities which will be first in the world.

Already the country have benefited good from the cryptocurrency investment. From the profit it has been planned for construction of schools and hospitals which is really a good plan to spend on right things. Now they're widening the cryptocurrency adoption to the universal market attracting more businesses to make use of the country.

Formally within the next bull market El Salvador will make itself a big economy out of cryptocurrency investment. The same country serving as the hub for cryptocurrency activities will make more competence to it from the grown countries.

[sheenshane]

This is another history for bitcoin that only El Salvador has the guts to do it.

Yes, they are making a BIG history that they're the first country that adopted Bitcoin and becomes a trade zone.  They're now part of the Bitcoin history that should people know and I think there are few countries that had to follow their steps.

El Salvador trying to improve their economy and even it is a risk to invest in Bitcoin their president and the government already studied this.  Because they are trying to be independent towards using dollars and the country of US as well.  However, many countries were now on eyes with them, it might be followed to them if the result is good which I doubted it is.

[dupee419]

This is another history for bitcoin that only El Salvador has the guts to do it.

Yes, they are making a BIG history that they're the first country that adopted Bitcoin and becomes a trade zone.  They're now part of the Bitcoin history that should people know and I think there are few countries that had to follow their steps.

El Salvador trying to improve their economy and even it is a risk to invest in Bitcoin their president and the government already studied this.  Because they are trying to be independent towards using dollars and the country of US as well.  However, many countries were now on eyes with them, it might be followed to them if the result is good which I doubted it is.

I don't think all countries are interested in declaring Bitcoin as their own legal tender, it is either the governments have no interest or they just don't want people to gain too much freedom over a currency or perhaps they aren't ready for this kind of setup just yet. Indeed a historical figure claimed as the first Bitcoin city and country, El Salvador will just be one of the many countries in the future to declare Bitcoin as a legal tender.

[bbc.reporter]

It can also be argued that if no one wanted to buy El Salvador’s Bitcoin Bond, Bitfinex can print $1 billion USDT to expand their balance sheet and declare the bonds as one of the assets backing the issued USDT.

It appears that Bitfinex can also play the part of the Federal Reserve and the IMF, World Bank at the same time hehehe. I am beginning to become more confident that the people behind Bitfinex, Tether might copy China’s real estate developers’ transactions with shadow banking. It is also rumored that Tether was used to help Evergrande and others with liquidity problems before the collapse.



El Salvador is also working on a digital securities law and plans to issue the first operating license for a securities exchange to Bitfinex, Mow said.

“You know with Bitfinex, they have a lot of whales, so I don’t see a problem filling a billion-dollar bond,” he said.

Source https://www.theblockcrypto.com/post/125075/heres-how-el-salvadors-president-plans-to-use-bitcoin-bonds

[Fundamentals Of]

Everything will now depend on the implementation. The vision is there already. I think there is already sufficient support both from the country's population and officials and from foreign companies and individuals who are in support of Bitcoin. After a nice blueprint of what a Bitcoin city would look like, what's next is the actual creation of it. But things will not end after everything is created as planned. We will still wait for years to see if the actual function of the Bitcoin City is indeed worth duplicating in other cities.

[michellee]

If they can develop everything, I consider their country will grow fast since they have a new resource of revenue that can help their country compete with the other countries. It is not easy because they are still at a new phase of the transition and need time before fully operating all of their plans. But that is good news for bitcoin as that can help bitcoin become more than today and people out there will see that bitcoin can allow them to make money.

If that can succeed, the other countries with their own resources will think to use them to develop like what El Salvador did. Hopefully, that can boost bitcoin's popularity in their country.

[bbc.reporter]

Everything will now depend on the implementation. The vision is there already. I think there is already sufficient support both from the country's population and officials and from foreign companies and individuals who are in support of Bitcoin. After a nice blueprint of what a Bitcoin city would look like, what's next is the actual creation of it. But things will not end after everything is created as planned. We will still wait for years to see if the actual function of the Bitcoin City is indeed worth duplicating in other cities.

I would like to witness success, however, as a realist I am very skeptical. This might be the first time in the modern world where a planned city will be built from scratch.

Also, the success I would also want to witness is Tether and Bitfinex’s new responsibility as the new IMF to hyperdollarize 3rd world countries hehehe. The IMF will shake their heads because this would certainly be a major use case for USDT.

[peter0425]

El Salvador have continued to take the lead in cryptocurrency adoption, first the country announced bitcoin as a legal tender some months ago and the latest is the official opening of a bitcoin city which will serve as a free trade zone that will house top exchanges and bitcoin mining farms. The president announced this project which is backed with a 1 billion dollars worth of bitcoin as a bond.
https://cointelegraph.com/news/el-salvador-to-inaugurate-bitcoin-city-backed-by-1b-bitcoin-bonds

So this will take place first than the famous Rapper to have a first crypto city? i forgot who is that and where is the place but i heard that years back.


EL Salvador is really making its way to make first step in everything about Bitcoin , is this meaning they will adopt more and more crypto in the future?

really proud to all advance EL Salvadorian that supports their government action towards bitcoin and those who  opposes ? they don't know what they are missing .

[Sintasis212]

El Salvador have continued to take the lead in cryptocurrency adoption, first the country announced bitcoin as a legal tender some months ago and the latest is the official opening of a bitcoin city which will serve as a free trade zone that will house top exchanges and bitcoin mining farms. The president announced this project which is backed with a 1 billion dollars worth of bitcoin as a bond.
https://cointelegraph.com/news/el-salvador-to-inaugurate-bitcoin-city-backed-by-1b-bitcoin-bonds

I'm happy

This is very easy to accept including me if there is a country.
Concealment.. freedom. ease of stability and low cost. This is very helpful for transfers between wallets / investments. Currently my country is also available and quite complete both local excanger and p2p is free in trade. But not for payment/ transaction.
What do you think is for a country that is not yet literate of bitcoin? Do you agree that some countries don't adopt it?

[bitterguy28]

This is what I am not loving in EL Salvador accepting bitcoin as legal tender because since they are small country and contributing only small portion in this market, all good news in their country not making big effect in the market circulation.
if these news comes from USA or Europe or even China? surely the value of Bitcoin now increases a lot.
but suddenly this one takes no good effect as the price continues to experience decline.

I'm happy

We are all does , but i hope that this will make big difference in bitcoin movement .