El Salvador positions itself as the first Bitcoin city at Expo2020 in Dubai

[Betwrong]

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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.

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

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

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

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.

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.

[n0ne]

Nayib Bukele, El Salvador’s Bitcoin-loving president has announced plans to offer citizenship to foreign investors. This move could invite more investment projects like this series of reforms is a step closer to strengthening and reinforcing the country’s economy. Bukele announced this news through Twitter on Sunday, his tweet stated:

I’m sending 52 legal reforms to congress, to remove red tape, reduce bureaucracy, create tax incentives, citizenship in exchange for investments, new securities laws, stability contracts, etc. The plan is simple: as the world falls into tyranny, we’ll create a haven for freedom.

El Salvador Proposes Offering Citizenship To Foreign Investors

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"

[fiulpro]

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.

[Oilacris]

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

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.

[Henrobakkara]

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

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



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


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

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.
   

[Fortify]

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

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.

[aoluain]

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

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.

[Rengga Jati]

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).

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 

[Mahanton]

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).

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 

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.

[Dave1]

Nayib Bukele, El Salvador’s Bitcoin-loving president has announced plans to offer citizenship to foreign investors. This move could invite more investment projects like this series of reforms is a step closer to strengthening and reinforcing the country’s economy. Bukele announced this news through Twitter on Sunday, his tweet stated:

I’m sending 52 legal reforms to congress, to remove red tape, reduce bureaucracy, create tax incentives, citizenship in exchange for investments, new securities laws, stability contracts, etc. The plan is simple: as the world falls into tyranny, we’ll create a haven for freedom.

El Salvador Proposes Offering Citizenship To Foreign Investors

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"

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.

[SFR10]

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

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

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.

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 ^{[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]}.

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

It's one of those things that could go either way ^{[I agree with @Falconer's comment]}.

El Salvador Proposes Offering Citizenship To Foreign Investors

Impeccable timing...

[Luzin]

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.

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.

[lixer]

There are already several Bitcoin Cities... and one of the originals is in Arnhem, Netherlands. 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.

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.

[Flodner]

Was it you taking the video?

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

[Flodner]

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...