El Salvador to Create ‘Bitcoin City,’

[Bitcoin Smith]

I came across an interesting article about El Salvador and bitcoin from coindesk, I am not sure its literally possible but if it becomes possible then its going to help the bitcoin adoption further in my opinion.

Its all about the president Nayib Bukele said that they are planning to create a completely new city which includes airport, railways, Residental and commercial buildings and its planned to be located near Gulf of Fonseca near a volcano and also they are going to create a power plant powered by volcano which will give enough electricity to the city as well as Bitcoin mining.

Some of the important points from that article are

• Shape of the city will be in circle which denotes the bitcoin
• The city will have no income, property, capital gains or payroll taxes.
• El Salvador plans on issuing $1 billion US “bitcoin bond,”(500M for infrastructure and 500M for buying bitcoins
• El Salvador will become “the Singapore of Latin America,”

El Salvador to Create ‘Bitcoin City,’ Use $500M of Planned $1B Bond Offering to Buy More Crypto

Here is comes what is your opinion about these kind of speech from the president of El Salvador? IMHO, its a visionary project but its just a miracle to build a complete new city under 10 years.

[noorman0]

First Bitcoin City
Bitcoin City Rising in El Salvador

[CryptocurencyKing]

This is an nice idea for sure, only if it is archiveable becuase, its going to come under some serious fight. I can still recall the Akoncoin and City that was postulated a year ago and since then, little have been said of it.

One thing we've got to ask ourselves is, are there still new or unhabited lands? All lands are own by a people and this city is sure to be carved out of those lands of which, the indigenous people won't give up without a fight. If we recall, there was once a protest on the enforcement of bitcoin for a means of payment and purchase of goods at a time in El-Salvador. That's to say, not everyone agrees with the presidents dream and would go some length to frustrate it.


Another thing is the fact that, his got only a few years or tenor to be in office. His successor could have a different dream of his own and would go about making the project an abandoned one and initiate a review on some on the crypto policies.

The idea might massage our backs but it's realistic nature is constricted and hoped not to break away!

[matjas]

Its certainly interesting because it’s a daring project. They promise no taxes, but who will inhibit this city? Certainly not poor people, or even middle class. This will be a city only for privileged rich class, which would live in a tax free haven. It will not bring anything to Salvadors society which is mostly poor. I would rather see him spending this money to fix the living condition in his country.

[YOSHIE]

I like what the government of El Salvador is doing, with Bitcoin, this is the government's concern and inspiration for its people, just try it if other countries have thoughts like the government of El Salvador, possible, all countries and peoples live in crypto based technology.

Honestly I also often see news about how El Salvador treats Bitcoin for its citizens, I see a lot of positive comments from other countries, one of them is the adoption of Bitcoin and the city of Bitcoin, something that deserves support for the idea of ​​​​the government of El Salvador and not to forget the other country is miami.

[MIner1448]

The idea of course is excellent and they came up with a cool idea with the volcano, but I don’t think that all this will come to the point, I think this is another hype or throw-in to attract investors to this country. Of course, if all this is really implemented, then bitcoin can skyrocket in price.

[zaesvlas]

Such news even looks quite interesting. As for me, this really means that the future is already closer than we think.

[arwin100]

Its certainly interesting because it’s a daring project. They promise no taxes, but who will inhibit this city? Certainly not poor people, or even middle class. This will be a city only for privileged rich class, which would live in a tax free haven. It will not bring anything to Salvadors society which is mostly poor. I would rather see him spending this money to fix the living condition in his country.

Just wondering on how the government could run the economy since they offered that tax free haven? If majority of people will adopt bitcoin and the government cannot get a revenue out of it then maybe they are not on the right track? But anyways since they plan to have that for sure they have some ways to be earn from that implementation.

Also this is a good move by El Salvador since this could attract more bitcoin user and its adoption.

[diahsw]

It's amazing, if it really happens maybe the price of bitcoin will be higher than today, I support that, but still have to think a lot about it because it's not easy to do it.

[josephdd1]

The President of El Salvador announced the foundation of the first Bitcoin City in the world. Bitcoin City will become a real settlement with residential and commercial real estate, restaurants, an airport and all the necessary infrastructure. Moreover, the borders of the city will have a rounded shape, and a complex with a huge BTC symbol in the center.
"In Bitcoin City, we will have digital and technological education, geothermal energy for the whole city, as well as efficient and environmentally friendly public transport," Bukele said.
I would like to visit this city in the future.

[Slow death]

Here is comes what is your opinion about these kind of speech from the president of El Salvador? IMHO, its a visionary project but its just a miracle to build a complete new city under 10 years.

if he had rich investors wanting to build houses, stores, hospitals, roads, in a short time he would have this city ready, but I still haven't seen many exchanges running to stay there, I haven't seen many miners running there, I haven't seen big investors of cryptocurrencies moving there. does it make me question why will it be? Is he scaring the cryptocurrency investors? because how is it justified that he offers these opportunities but no one goes to El Salvador?