• Written by: John-Paul
• Sun, 21 Nov 2021
•   Russian Federation

Is the grass green or orange in Bitcoin City?  Guns N' Roses – Paradise City (Live In Tokyo 1992) pic.twitter.com/iNrFA7nRXq — Hard Rock (@_Rocker80_) November 15, 2021 First there was Bitcoin Beach, and now there is Bitcoin City. President of El Salvador Nayib Bukele announced late Saturday night that he intends to build the first “Bitcoin City” […] The post Take Me Down To Bitcoin City appeared first on CryptosRus.

Take Me Down To Bitcoin City

Is the grass green or orange in Bitcoin City? 

Guns N' Roses – Paradise City (Live In Tokyo 1992) pic.twitter.com/iNrFA7nRXq

— Hard Rock (@_Rocker80_) November 15, 2021

First there was Bitcoin Beach, and now there is Bitcoin City.

President of El Salvador Nayib Bukele announced late Saturday night that he intends to build the first “Bitcoin City” in the world. The city will be funded by bitcoin-backed bonds.

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• The proposed Bitcoin City will be built in the La Union region located in the eastern part of the Central American country.
• Bukele specified that the city will be completely powered by a volcano. “This is a fully ecological city that works and is energized by a volcano.” That alone should dispel any environmental disaster arguments, but it won’t.
• The El Salvadoran president also apparently intends to fully lean into making every libertarian’s dream come true. The city will not levy any taxes on its citizens directly, opting to collect a value added tax (VAT).
• VATs are essentially sales taxes. Basically, the more you spend, the more taxes you pay.
• Bukele made the announcement during a closing event for a week long Bitcoin blitz by the president. “Invest here and make all the money you want,” Bukele said at the event.
• The aforementioned bonds will be backed by Bitfinex and Blockstream.
• The 40 year-old backwards hat wearing president is famous for his love of Bitcoin. Most recently, he publicly announced that he bought the dip in the most Michael Saylor way possible.

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The post Take Me Down To Bitcoin City appeared first on CryptosRus.