El Salvador is building a cryptocurrency-fueled and geothermally-powered Bitcoin City

[Xist]

On September 7th, 2021, The Land of Hard Salty Cheese made bitcoin legal tender.

That doesn't seem like it would improve stability.

The government is running a pilot bitcoin mining venture at a geothermal power plant beside the Tecapa volcano and I guess today the president

announced that his government will build an oceanside “bitcoin city” at the base of a volcano.

A bond offering would happen in 2022 entirely in bitcoin [... a]nd 60 days after financing was ready, construction would begin.

The city will be built near the Conchagua volcano to take advantage of geothermal energy to power both the city and bitcoin mining.

The only tax collected there will be the value-added tax, half of which will be used to pay the municipal bonds and the rest for municipal infrastructure and maintenance. Bukele said there would be no property, income or municipal taxes and the city would have zero carbon dioxide emissions.

The city would be built with attracting foreign investment in mind. There would be residential areas, malls, restaurants and a port

The government is also offering bitcoin credits to Salvadorans using its digital wallet. https://www.bigcountryhomepage.com/n...-bitcoin-city/

[freebeard]

abcnews.go.com/Business/wireStory/el-salvador-build-cryptocurrency-fueled-bitcoin-city-81313007

The government will provide land and infrastructure and work to attract investors.

The only tax collected there .... and a port, Bukele said. The president talked of digital education, technology and sustainable public transportation.

“Invest here and earn all the money you want,” Bukele told the cheering crowd in English at the closing of the Latin American Bitcoin and Blockchain Conference being held in El Salvador.

Let's hope it isn't in Berlin like the current 300-machine mine. If you look at the topography, all the prior eruptions flowed westward.

[redpoint5]

If El Salvador is big on it, that's your sign to divest. Nothing they touch will end well.

[freebeard]

I'd like to see them break Bitcoin. Not really, but it would something to behold.

[67-ls1]

This won’t end well.