El Salvador to build cryptocurrency-fueled 'Bitcoin City'

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El Salvador President Nayib Bukele announced plans to build a 'Bitcoin City' at the base of a volcano. Bukele said geothermal energy would power both the city and energy-intensive Bitcoin mining. The cryptocurrency is legal tender in El Salvador.

The city would be built with attracting foreign investment in mind. There would be residential areas, malls, restaurants and a port, Bukele said. The president talked of digital education, technology and sustainable public transportation.

Critics have warned that the currency’s lack of transparency could attract increased criminal activity to the country and that the digital currency’s wild swings in value would pose a risk to those holding it. Concern among the Salvadoran opposition and outside observers has grown this year as Bukele has moved to consolidate power.

 

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وكالة الصحافة الفرنسية: أعلن رئيس_السلفادور نجيب_بوكيلة عن خطط لبناء 'مدينة_بيتكوين' في قاعدة بركان. وقال بوكيلة إن الطاقة الحرارية الأرضية ستعمل على تزويد المدينة بالطاقة وتعدين Bitcoin كثيف استهلاك الطاقة. ويعد تداول العملة المشفرة قانونيا في السلفادور.

El Salvador about to become a money laundering haven rivaling even the Cayman Islands

Welcome to Bitcoin City, Mr Bond.

Hope it’s a success so people will want to remain in their country.

This literally sounds like a Bond villains lair.

I don't know about that..

Plot of the new Bond movie just got leaked.

This sounds reasonable 🙄

But when the volcano explodes and destroys the city will it put the Bitcoin price down?

I'm really excited about it. The idea of a volcano is awesome!

MattBinder

The perfect analogy for Bitcoin eventually going down in flames.

Sounds legit.

based

Imagine setting up a volcano-based geothermal powerplant and using it for bitcoin...

The name of the President sounds very unlikely Latin American.

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