First Bitcoin City

[CaVO32]

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.

We will see the effect of this initiative of El Salvador in at least couple of years. I hope there will be positive change in terms of their economic status. Usually, the cause of failure of most government initiatives is the persons/groups involved, when corruption and other self-interest overcomes the national interest. And it seems that Bukele is more on uplifting the standards of their economic status, so looking forward to see the contribution of crypto involvement in terms of improving their economy.

[1715408376]

1715408376

[1715408376]

1715408376

[1715408376]

1715408376

[1715408376]

1715408376

[1715408376]

1715408376

[7788bitcoin]

We will see the effect of this initiative of El Salvador in at least couple of years. I hope there will be positive change in terms of their economic status. Usually, the cause of failure of most government initiatives is the persons/groups involved, when corruption and other self-interest overcomes the national interest. And it seems that Bukele is more on uplifting the standards of their economic status, so looking forward to see the contribution of crypto involvement in terms of improving their economy.

Adopting Bitcoin does not mean that their economic status will be changing all of a sudden. For people who wants to stores their wealth away from the dollars they can use this as an opportunity and what i am curious to know is what happens when there is a major market crash and how the people of El Salvador will be handling that. It is inevitable that some of them will burn their savings if there is a major crash.

[LUCKMCFLY]

What really surprises me about all this is that a country like El Salvador that has great needs and that lives on its remittances is the country that is showing the most intelligence worldwide, I wonder, what will China think of all this? In general, European countries, the USA and first world countries are the ones that emerge with the best economies, the most stable, in fact the best opportunities, now the one who has the most option of being a power is El Salvador, even in a city they have thought, and in fact they will carry it out, they have a young president with fresh ideas, they are truly pioneers and an example in the world, what country will follow with their example? Will it be another country from the Central or South American continent? or maybe it will wake up the great Europe or the USA that really have very strong economic problems that they want to continue putting on makeup.

[Flexystar]

I am amused what is the status of this countries wealth by today’s rate?
I mean they have invested heavily into bitcoin infrastructure meaning various investment such as 200+ bitcoin machines and also bought bitcoin frequently.

All this happened when the rate of bitcoin was ATH (the new one) and as we see bitcoin has dropped heavily, this might have hampered the El Salvador investment in worst possible ways.

[menoiazei]

 Bitcoin city makes me want to visit El Salvador

Is there an official website for this project?

[carrigan]

That's an interesting thing and will definitely benefit Bitcoin investors there. El Salvador indeed deserves thumbs up, bravely stepping in the first line to legalize Bitcoin in his country. As the first, of course, El Salvador will continue to innovate, one of which is making the city of Bitcoin as its center. This is really a good thing. El Salvador is not half-hearted in crypto they will continue to run with crypto by their side.

[RILWAN]

their actions are extraordinary and as pioneers, there must be pros and cons to this decision. while other countries regulate cryptocurrencies they do the exact opposite.  Is there any other information from the international economic community regarding this policy and surely many will disagree because it can threaten the global economy.

I believe by now the El Salvador government will have familiarize it self with the risk and the volatile nature of bitcoin, I believe in the future they plans will manifest and they economy will be better for it if the price of Bitcoin skyrocketed in the future.

[DdmrDdmr]

<…> Is there an official website for this project?

Well it’s not this one in case anybody stumbles upon it, whilst trying to find a website for the project. I’ve search around, but come empty handed. It’s probably not much more yet than the PowerPoint shown during LABITCONF. Once they put-up a site for the project, it will be more binding in terms of the details they’d have to include, subject to much more scrutiny, and I’m not sure that they are there yet.

[Wiwo]

<…> Is there an official website for this project?

Well it’s not this one in case anybody stumbles upon it, whilst trying to find a website for the project. I’ve search around, but come empty handed. It’s probably not much more yet than the PowerPoint shown during LABITCONF. Once they put up a site for the project, it will be more binding in terms of the details they’d have to include, subject to much more scrutiny, and I’m not sure that they are there yet.

I believe the project is still at its Blueprint level a lot is yet to be done on the Bitcoin city, I am sure as things progress in the future the website will come up.
Another issue is that not many details on the project are in the public domain aside from the one given out by the President in the opening ceremony.

[Jasad]

el salvador wants to prove to the world that by legalizing bitcoin their country will continue to grow and their economy will get better than before, bukele's steps will slowly be accepted by its citizens, although now there are still citizens who oppose, but i am very confident with the efforts that done by bukele in a few years then all their citizens will accept with open arms..

[Lizzylove1]

Smart country with a smart youthful president. This is what I expected my country to do with the high rate of unemployment and a massive youth population but no my president thinks we want to destroy the nation economy by shifting from the traditional economy to digital. I hope we get better leader like EL Salvador president. Smaller nations that would love to break away from the debt path should consider adding bitcoin to their national asset.

[RealMalatesta]

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

You know, it is quite nice how El Salvador keep advancing everything that they have done. At first I thought that it was just going to be an ordinary Bitcoin adoption and that’s all, I’m surprised to see that they keep working hard and bringing up new ways and ideas on how they would move forward with their adoption of Bitcoin.

I’m seriously hoping that someday that this is going to benefit them, and I know that for sure, that it is going to happen. Bitcoin is a cryptocurrency that has a chance of increasing in value in future, and imagine in no distant future when it will be worth far more than what it is today, El Salvador will be one of those few countries that will be benefiting very well from it, and that’s because they have taken the lead earlier before others.

[Wiwo]

Smart country with a smart youthful president. This is what I expected my country to do with the high rate of unemployment and a massive youth population but no my president thinks we want to destroy the nation economy by shifting from the traditional economy to digital. I hope we get better leader like EL Salvador president. Smaller nations that would love to break away from the debt path should consider adding bitcoin to their national asset.

El 🇸🇻 Salvador is one country that has adopted Bitcoin in its full sense and the country has spent a chunk of the country's treasury on bitcoin acquisition and in investment projects such as this bitcoin city as park which will cost the country billions of dollars.

[kucritt]

that the great news, i think if the el salvador will become the first bitcoin city, and maybe in the future there are many bitcoin city. and i think if this happen, we can use bitcoin and another crpyocurrencies as our regular currencies in that city.
welcome to the future

[Mauser]

Sounds nice that El Salvador is taking the next step and creating a whole bitcoin city. Unfortunately I really worry about the security on El Salvador. For the local population the bitcoin city might be a blessing but internationally it could be difficult to take part in such a city. El Salvador has a big crime problem with the famous street gang MS-13 operating from there. If there is too much money involved in bitcoin city it could become the target for the criminals. Central America is different to Iceland where nothing is around the mining farms.

[HridoyHk_15]

As it stands today, I guess from the previous day and unlike many other projects, I am sure that this project will be successful only because of its location El Salvador. Because everything their president has announced and promised has come true, start with Bitcoin becoming a legal tender. Using different strengths has now created a better position.
Many people make bad comments about him, calling him a person who abuses his power, and a lunatic who will destroy the country - but I think this is the most exciting country in terms of bitcoin. At first, I was a little confused about all of this, but now I see that these are not just empty words and promises. I hope to one day go to Bitcoin City.

[CryptoKingh]

That would be good! since they were the first country to adopt the use of bitcoin, they should be the first to create such a city that everything you need about cryptocurrencies will be there.

[CryptoKingh]

I believe the project is still at its Blueprint level a lot is yet to be done on the Bitcoin city, I am sure as things progress in the future the website will come up.

[BuNga_cute]

that the great news, i think if the el salvador will become the first bitcoin city, and maybe in the future there are many bitcoin city. and i think if this happen, we can use bitcoin and another crpyocurrencies as our regular currencies in that city.
welcome to the future

After the shocking news that El Salvador legalized Bitcoin as a legal tender, now they are making another breakthrough. By building
the first Bitcoin city, this is very positive news and I believe that soon there will be another Bitcoin city. I am more and more amazed
by the government of El Salvador, they are really very brave to take decisions that are less popular, which other countries restrict the use of
Bitcoin more. El Salvador became a haven for Bitcoin supporters, I really hope that many countries will follow in El Salvador's footsteps,
so Bitcoin can grow even faster and can help the economy of many people.

[Davidvictorson]

that the great news, i think if the el salvador will become the first bitcoin city, and maybe in the future there are many bitcoin city. and i think if this happen, we can use bitcoin and another crpyocurrencies as our regular currencies in that city.
welcome to the future

After the shocking news that El Salvador legalized Bitcoin as a legal tender, now they are making another breakthrough. By building
the first Bitcoin city, this is very positive news and I believe that soon there will be another Bitcoin city. I am more and more amazed
by the government of El Salvador, they are really very brave to take decisions that are less popular, which other countries restrict the use of
Bitcoin more. El Salvador became a haven for Bitcoin supporters, I really hope that many countries will follow in El Salvador's footsteps,
so Bitcoin can grow even faster and can help the economy of many people.

Very interesting concept to be sure. Although I have some doubts about whether they can pull it off. El Salvador has many problems with government, crime, poverty, etc. However these types of futuristic cities have been proposed as one way to bootstrap development in poorer countries. It could work, or it could turn out to be a walled haven for the rich that doesn't benefit the surrounding country, or it could simply fall apart due to poor governance and corruption. Our fingers are crossed.