Post
Topic
Board Bitcoin Discussion
Re: First Bitcoin City
by
fiulpro
on 22/11/2021, 15:58:27 UTC
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

At the same time to boost their adoption of cryptocurrencies they offered citizens 30$ for wallets if I remember correctly.

Since the city would be based on the base of the volcano they would have chances to use geothermal energy for the same, for mining and to keep the whole system green.

They are going to be using Bitcoin bonds as well which is a positive thing. But raising 1 billion dollars would be the hard part.

Therefore this would only be an amazing initiative for the whole world, the bitcoin community itself, they would also be using renewable sources of energy which would mean that this volcanic power can help other countries see that bitcoin mining can be sustainable as well.