First Bitcoin City

[davis196]

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 very cautious,when I see news about politicians announcing such projects.
What is the incentive for a "top cryptocurrency exchange platform" or a crypto mining farm to locate their business in this so called "Bitcoin city"?No taxes and liberal crypto regulations?That's good,but is there anything else?Good infrastructure?An abundance of blockchain developers and programmers?I don't think so.
This "Bitcoin city" is supposed to be a free trade zone.There's nothing wrong with that,but I don't think that there will be multiple merchants willing to use that free trade zone,because El Salvador is a poor country and the consumer market is very small.
Anyway,that's a good initiative,but I don't trust politicians.They are capable of ruining every good project.

[Chato1977]

Yeah this country really is a Bitcoin paradise , 

Congratulations to all who lives there, how mi wish our country will have such place in which we can spend everything and transact without hindrances .

also congrats to EL Salvador for this achievements .

[bitzizzix]

The plan to build a bitcoin city at the foot of the El Salvador volcano is a very interesting plan, and if the plan goes well and materializes it will be a new history of all time and will also be proof that bitcoin can advance the country.
And if all the plans of the president of El Salvador Nayib Bukele go well and materialize and also make his country successful because of bitcoin, it will be a concern and an example for other countries that bitcoin will bring good or positive things in the future.

[zaesvlas]

Interestingly enough, what will come of it. At least, it’s even difficult to imagine what could come of it.

[sarmrakib]

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

Yeup.I have seen the news it was a awesome moment for El Salvador and for the whole crypto community .Its prove that they are really highly interested on it ,Could you ever though a country will straightway announce it as a signal and the will use it as state currency .Really i never though it cause i was thinking about the volatility behave of it but they took it positively and see now the even made acity named in Bitcoin city .Here everything will be on btc and crypto as well .Which country will be the next guys ,i ma really excited for something more if it happen will be the happy man for sure .

[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.

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.

We all want to witness El Salvador successful in this venture. So far, the country and its leader are worth praising. In a way, they are already successful in coming up with this kind of breathtaking plan. The odds are not that easy to overcome. So we have to give them credit for being determined in this endeavor. No less than the IMF is hindering this plan of El Salvador. The country needs full support from Bitcoin supporters all over the world. El Salvador is now like a battlefield between Bitcoin and fiat. The failure of Bitcoin City is the triumph of IMF and other fiat institutions. They will say "we told you so, it's not gonna work." We shouldn't allow it.

[bbc.reporter]

@Fundamentals Of. The IMF can threaten, however, they cannot do anything to stop this unless the American government takes down Tether and Bitfinex or send the military hehehe.

Also, the project does not need the full support of the community. Everything was planned already before the project has begun. I am quite certain that Tether has a very big part in this and it also an opportunity to expand their balance sheet. I would also not be shocked if the American government sends letters to Tether again for another investigation.

[kaya11]

These are countries' leaders are thinking way ahead, risk takers are great gainers. It will attract more attention and more tourist if it really have a bitcoin city of their own. Imagine a city where most of the crypto assets are all welcome to be utilize without worries in a single place. Hope some countries will follow too, we are seeing good news ad by the look of it, it's not impossible all the countries that are top notch will also do this.

[geegaw]

These are countries' leaders are thinking way ahead, risk takers are great gainers. It will attract more attention and more tourist if it really have a bitcoin city of their own. Imagine a city where most of the crypto assets are all welcome to be utilize without worries in a single place. Hope some countries will follow too, we are seeing good news ad by the look of it, it's not impossible all the countries that are top notch will also do this.

Attracting and going ahead, but in return, unfriendly eyes from many countries, and let's not forget such a city is a trade-off between taxes and development, crypto and bitcoin are virtually tax unequal products, once the city is not as ideal as originally planned, the investment costs as well as the nonexistent tax will shake the seats of these leaders. Small cities can run such experiments to check the existence of users, big countries and cities cannot run into such unmanageable products, the ability to reap the benefits is not high, compensating for losses with taxes from other cities is enough to tire the government with the people's screams

[Victorik]

One of the countries setting the pace. First, investing in Bitcoin and now wanting to build a whole city  on Bitcoin.
And this is happening at time when other countries are banning Crypto either directly or indirectly. This may open the eyes of other ignorant nations of the enormous potential that crypto posseses.

[BITCOIN4X]

The plan to build a bitcoin city at the foot of the El Salvador volcano is a very interesting plan, and if the plan goes well and materializes it will be a new history of all time and will also be proof that bitcoin can advance the country.
And if all the plans of the president of El Salvador Nayib Bukele go well and materialize and also make his country successful because of bitcoin, it will be a concern and an example for other countries that bitcoin will bring good or positive things in the future.

Nayib Bukele just wanted to show the people and bitcoin community around the world that he is really serious about his idea now that he has adopted bitcoin as a legal currency in El Salvador. What's great about him is that he doesn't talk nonsense, but prove everything with fact as desired. Bukele's seriousness will certainly make the bitcoin community around the world support it and the country will soon become a reflection for many other countries that still depend on a centralized system.

His desire to become the first bitcoin city is commendable in El Salvador, it makes him seem like a courageous leader even though some call him selfish.

[RILWAN]

One of the countries setting the pace. First, investing in Bitcoin and now wanting to build a whole city  on Bitcoin.
And this is happening at time when other countries are banning Crypto either directly or indirectly. This may open the eyes of other ignorant nations of the enormous potential that crypto posseses.

I believe with El Salvador Bitcoin adoption other countries will discover the potentials that the economy stands to gain using Bitcoin at this early stage, El Salvador will by far be above other countries in terms of the reserve and profits from these Bitcoin investments.

[Artemis3]

This is better than the boat for sure. But i don't like much the part of being too close to the volcano... Its fine for mining farms, but why must the city be there as well? Well, lets hope we don't get another Pompey, tho it can arguably be in hundreds of years, who knows...

[UserU]

I believe with El Salvador Bitcoin adoption other countries will discover the potentials that the economy stands to gain using Bitcoin at this early stage, El Salvador will by far be above other countries in terms of the reserve and profits from these Bitcoin investments.

Imagine Bitcoin reaching 6-figures and Nayib selling almost all. Would definitely pay off a huge sum of their national debt

[karanggatak]

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.

good move if you be the first to do it, the other will learn anything about this country, and they can be great than this country. but, first achievement always stick in there.
and yeah, boost will be given to bitcoin itself and the other thing that related with bitcoin. promise will haunt because of government move.

[Henrobakkara]

Unlike many other projects that have been speculated and talked about for years, I am pretty sure that this project will succeed only because its location is El Salvador. Because everything their president has announced and promised so far has come true, from Bitcoin becoming a legal tender, to building a mining farm that uses geothermal energy from volcanoes.

Some call him a dictator, a man who abuses his powers, and a lunatic who will ruin the country - but I think it's the most exciting country when it comes to Bitcoin, something most of us can only dream of. Although at first, I was a bit skeptical about all this, now I see that these are not just empty words and promises - I hope to visit Bitcoin City one day

A dictator? far from it. It is always like that when some citizens that don't understand what he is doing will likely say stuff like that but they should understand what a dictatorial President acts like  I believe when all this eventually comes together and the citizenry begins to rip the full benefits of what this President is setting up for them in terms of this planned Bitcoin city then they will appreciate all that he is doing now.

[Dhaniii]

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.

good move if you be the first to do it, the other will learn anything about this country, and they can be great than this country. but, first achievement always stick in there.
and yeah, boost will be given to bitcoin itself and the other thing that related with bitcoin. promise will haunt because of government move.

El Salvador is trying to become a country that is a strong country in the future economic system by strengthening the economic system through bitcoin so that El Salvador dares to take decisions in increasing transactions with payment systems via bitcoin ATMs. So it's no wonder El Salvador will be the first bitcoin city to legalize it. Other countries still have a level of pros and cons of legalizing bitcoin in their country, El Salvador has been a driving force for other countries to adopt bitcoin.

[yohananaomi]

I believe with El Salvador Bitcoin adoption other countries will discover the potentials that the economy stands to gain using Bitcoin at this early stage, El Salvador will by far be above other countries in terms of the reserve and profits from these Bitcoin investments.

hopefully what elsavador has done will trigger other countries, especially developing countries to be able to follow suit because it is clear what elsavador has done to make their economy one day will have an impact on improving, it is clear that all countries also want to be like them. we are waiting for the next good news.

Imagine Bitcoin reaching 6-figures and Nayib selling almost all. Would definitely pay off a huge sum of their national debt

Of course, the benefits obtained are extraordinary, what is done is something very positive and spurs improvement for the country's economy and what is done is something very positive and will continue to make improvements in the future.

[btc78]

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

There is something EL Salvador wanted to prove and that is they are the Bitcoin Haven , their country wanted to be Known as first in almost everything about Bitcoin, if they will only be the first to adopt bitcoin years back? for sure they will be the first to install Bitcoin ATM machines but of course they are not.
So let This country continue their Legacy about bitcoin and hoping that they will extend the adoption and will add altcoins in the future .

[rdbase]

I believe with El Salvador Bitcoin adoption other countries will discover the potentials that the economy stands to gain using Bitcoin at this early stage, El Salvador will by far be above other countries in terms of the reserve and profits from these Bitcoin investments.

Imagine Bitcoin reaching 6-figures and Nayib selling almost all. Would definitely pay off a huge sum of their national debt

Bukele has already mentioned they have been accumulating more bitcoin during the dips.
So he has much more now than what was reported he had acquired upon the initial purchase some months ago.

There was another place in Europe that had this moniker before.
https://venturebeat.com/2018/07/21/how-tiny-liechtenstein-aims-to-become-a-big-player-in-blockchain
But were known as the Crypto Valley instead for their ease of regulatory lobbying.