It should be appreciated how El Salvador's journey, which began some time ago and carried out further development, signifies their success in managing the people in the country to interact more actively with Bitcoin and now we have seen it used to.
Based on the article that you shared, I found a statement that is quite promising and will certainly be realized in the near future, as Bukele said:
"Invest here and make all the money you want," Just as short as that made me interested without thinking, if I lived there I might be part of those who invest.
Topic: El Salvador develops further its bitcoin strategy - page 2. (Read 248 times)
I was actually very excited when I read on the news that El Salvador will build a Bitcoin City with no income tax, no capital gains tax, no property tax, and no payroll tax. That is one giant step only a bold leader could make. I wonder how effective that would be in attracting investors. It is worth anticipating. But, either way, I really admire leaders who, for better or for worse, are decisive enough to make radical steps toward development.
This is a big step forward in the cryptospace that no other country have taken initiative. El Salvador keep on doing something positive with bitcoin. The total population of the country is 6.5 million. To this population it is an easy thing to implement, and the leader too have taken a bold decision. The bold decision will surely attract more investors and business startups. Bitcoin City is a long time discussion, and finally El Salvador have made it come true.Props to Bukele for everything that's happening in El Salvador. Everything wouldn't have been possible had El Salvador not elected a millennial populist who has optimized all available leverage in pursuing a radical and somehow eccentric vision. It is not a curious case that this kind of initiative is happening only in El Salvador, and in so quick a time and somehow smoothly.
This is more about Bukele really. The perfect mixture of high popularity among the population, moderate authoritarianism among fellow leaders, and radical views in a man of a youthful and cool demeanor paved the way for everything that's happening now in the country.
Bitcoin is available to all the leaders of the world but it is only in El Salvador that it really unfolds to its extreme. The question was, how opposed are you against the established system? How far will you go to disrupt it? Not all leaders could answer these the way Bukele does.
Making him more popular in the media since he seems to be making noise because of this adoption he initiates. It's the determination of the leader to bring prosperity to thier nation. But I wouldn't say it all for him but he is making a big development in his country which is for all.
There are two ways so far that are being done for the city which is releasing tokens like Miamicoin and this bond backed by Bitcoin of El Salvador. So if any country or city wants to follow, I guess these two are thier models.
Bitcoin City is the flagship tokenised project of a tax free city funded by these 6.5% yielding bonds (currently in the CCC bond territory in my view - Trash debt AKA "High Yield").
I heard the news last night. Just to point out it is not 100% tax free, it will have a 10% VAT tax. Which is not bad at all.
I hope the city will be a success and more places will want to copy it.
Faced with a model that has both political and economic power that wants to manage things from above, this model, in which the organization is built eminently from below with interpersonal relationships is the dream of the authors of the Austrian school.
I am not surprised that the project was initiated by Bukele and not by Biden and some other politician of the same style.
I was actually very excited when I read on the news that El Salvador will build a Bitcoin City with no income tax, no capital gains tax, no property tax, and no payroll tax. That is one giant step only a bold leader could make. I wonder how effective that would be in attracting investors. It is worth anticipating. But, either way, I really admire leaders who, for better or for worse, are decisive enough to make radical steps toward development.
This is a big step forward in the cryptospace that no other country have taken initiative. El Salvador keep on doing something positive with bitcoin. The total population of the country is 6.5 million. To this population it is an easy thing to implement, and the leader too have taken a bold decision. The bold decision will surely attract more investors and business startups. Bitcoin City is a long time discussion, and finally El Salvador have made it come true.Props to Bukele for everything that's happening in El Salvador. Everything wouldn't have been possible had El Salvador not elected a millennial populist who has optimized all available leverage in pursuing a radical and somehow eccentric vision. It is not a curious case that this kind of initiative is happening only in El Salvador, and in so quick a time and somehow smoothly.
This is more about Bukele really. The perfect mixture of high popularity among the population, moderate authoritarianism among fellow leaders, and radical views in a man of a youthful and cool demeanor paved the way for everything that's happening now in the country.
Bitcoin is available to all the leaders of the world but it is only in El Salvador that it really unfolds to its extreme. The question was, how opposed are you against the established system? How far will you go to disrupt it? Not all leaders could answer these the way Bukele does.
I was actually very excited when I read on the news that El Salvador will build a Bitcoin City with no income tax, no capital gains tax, no property tax, and no payroll tax. That is one giant step only a bold leader could make. I wonder how effective that would be in attracting investors. It is worth anticipating. But, either way, I really admire leaders who, for better or for worse, are decisive enough to make radical steps toward development.
This is a big step forward in the cryptospace that no other country have taken initiative. El Salvador keep on doing something positive with bitcoin. The total population of the country is 6.5 million. To this population it is an easy thing to implement, and the leader too have taken a bold decision. The bold decision will surely attract more investors and business startups. Bitcoin City is a long time discussion, and finally El Salvador have made it come true.
I was actually very excited when I read on the news that El Salvador will build a Bitcoin City with no income tax, no capital gains tax, no property tax, and no payroll tax. That is one giant step only a bold leader could make. I wonder how effective that would be in attracting investors. It is worth anticipating. But, either way, I really admire leaders who, for better or for worse, are decisive enough to make radical steps toward development.
By the way, both your sources are only accessible to registered or subscribed readers.
By the way, both your sources are only accessible to registered or subscribed readers.
Despite the challenges that bitcoin and cryptocurrency is facing in other parts of the world, It's really great to see that in a country like El Salvador, they are making advances at integrating bitcoin into domestic life and use. I like the fact that the president is an Innovative pioneer thinker not afraid to start /try out something new. The people of El Salvador will come to appreciate his efforts towards advancing them in the years to come.
I like that being tax free.
It's going to be one reason why the people of El Salvador would be investing into that bond. Aside from getting into bitcoin, their president is serious with all the advancement and potential that they can maximize for bitcoin.
This development is a good initiative and if it becomes a success, other countries that are eyeing for the same thing would probably have their test run for it.
It's going to be one reason why the people of El Salvador would be investing into that bond. Aside from getting into bitcoin, their president is serious with all the advancement and potential that they can maximize for bitcoin.
This development is a good initiative and if it becomes a success, other countries that are eyeing for the same thing would probably have their test run for it.
I personally think that people will buy into the bonds just because of how much money printing are going on right now.
People and institutions will likely see this as one level higher than a junk bond just because of the fact that there is a clear roadmap as to what to do with this money, and El Salvador clearly has a good future going ahead with their BTC plan.
I don't necessarily think that centralizing BTC infrastructure in one country is good though...
People and institutions will likely see this as one level higher than a junk bond just because of the fact that there is a clear roadmap as to what to do with this money, and El Salvador clearly has a good future going ahead with their BTC plan.
I don't necessarily think that centralizing BTC infrastructure in one country is good though...
Yeah I don't think 6.5% is high enough for CCC bonds too, I've seen BBB ones at 8% over the past few years.
Also if they're declaring investing some into bitcoin then most of their investors might be trying to go into it charitibly or just not expecting good returns (at which they could just invest in bitcoin).
Also if they're declaring investing some into bitcoin then most of their investors might be trying to go into it charitibly or just not expecting good returns (at which they could just invest in bitcoin).
El Salvador is putting to market a 1 Billion issuance of bonds with the objective of deploying an increased bitcoin infrastructure plus direct investments in bitcoin holdings. At least half to the proceedings from these "volcano bonds" are to be directly invested in purchasing bitcoin.
Bitcoin City is the flagship tokenised project of a tax free city funded by these 6.5% yielding bonds (currently in the CCC bond territory in my view - Trash debt AKA "High Yield").
https://www.reuters.com/markets/rates-bonds/el-salvador-plans-first-bitcoin-city-backed-by-bitcoin-bonds-2021-11-21/
https://www.bloomberg.com/news/articles/2021-11-21/el-salvador-plans-1b-in-tokenized-bitcoin-bonds-bukele-says
Bitcoin City is the flagship tokenised project of a tax free city funded by these 6.5% yielding bonds (currently in the CCC bond territory in my view - Trash debt AKA "High Yield").
https://www.reuters.com/markets/rates-bonds/el-salvador-plans-first-bitcoin-city-backed-by-bitcoin-bonds-2021-11-21/
https://www.bloomberg.com/news/articles/2021-11-21/el-salvador-plans-1b-in-tokenized-bitcoin-bonds-bukele-says
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