Poisonjuoice
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After introducing the largest cryptocurrency as legal tender, the president of El Salvador has announced the future construction of a "Bitcoin City" which will be funded with the cryptocurrency. The city will have no income, property, capital gains, or wage taxes. It will be located near a volcano and will have residential and commercial areas, services, entertainment, restaurants and even an airport. The Central American country aims to finance the project with the issue of "Bitcoin Bonds" for a total of 1 billion dollars, created in collaboration with the famous company Bitcoin Blockstream. Half of the proceeds, equal to 500 million dollars, will be used to directly purchase Bitcoin, the remaining half will be used to finance infrastructure, including a power plant that will exploit the volcano's abundant geothermal energy to power the city and a mining farm. . The attempt of the Central American state is to encourage the development of an ecosystem of companies, entrepreneurs and exponents of the crypto sector who will decide to locate themselves in the city.
Because it is important?
El Salvador continues its experimentation on the use of Bitcoin in its economy, passing from the definition of cryptocurrency as legal tender, to arrive today at the announcement of the first "Bitcoin City". The project aims to create an area where technological and financial education will be encouraged, green energy will be used to power the whole city and there will be no taxes on income, property and capital gains. The financing of the initiative through the issue of a bond that has Bitcoin as its underlying represents another unique experiment of its kind and has already attracted the attention of various investors from all over the world. Facebook Twitter LinkedIn Bitcoin surpasses PayPal in transaction volume.
Source: Cointelegraph
A report by the company Blockdata highlights how the Bitcoin network processed a volume of transactions in dollars 62% higher than Paypal in 2021. The data is contained in a report released by the company on November 23 and compares Bitcoin with payment giants PayPal, Mastercard and Visa. In 2021, the Bitcoin network processed approximately $ 489 billion in transactions in the first quarter. In the same period, PayPal processed $ 302 billion while Mastercard and Visa processed $ 1,800 billion and $ 3,200 billion, respectively. However, the data does not include Bitcoin transactions made off-chain with solutions such as Lightning Network, which would further increase the volume traded.
Because it is important?
Bitcoin flexes its muscles. The signs of greater adoption and growth of the network are increasingly evident and the overtaking of PayPal in terms of volume of transactions demonstrates how the Bitcoin network can manage billions of dollars of transactions in a decentralized and efficient way. The growing number of platforms, services and merchants that use or accept Bitcoin is stimulating the interest of the population and pushing people to experiment with the use of Bitcoin not only as a long-term investment but as a payment method.
Source:Cryptonomist
Because it is important?
El Salvador continues its experimentation on the use of Bitcoin in its economy, passing from the definition of cryptocurrency as legal tender, to arrive today at the announcement of the first "Bitcoin City". The project aims to create an area where technological and financial education will be encouraged, green energy will be used to power the whole city and there will be no taxes on income, property and capital gains. The financing of the initiative through the issue of a bond that has Bitcoin as its underlying represents another unique experiment of its kind and has already attracted the attention of various investors from all over the world. Facebook Twitter LinkedIn Bitcoin surpasses PayPal in transaction volume.
Source: Cointelegraph
A report by the company Blockdata highlights how the Bitcoin network processed a volume of transactions in dollars 62% higher than Paypal in 2021. The data is contained in a report released by the company on November 23 and compares Bitcoin with payment giants PayPal, Mastercard and Visa. In 2021, the Bitcoin network processed approximately $ 489 billion in transactions in the first quarter. In the same period, PayPal processed $ 302 billion while Mastercard and Visa processed $ 1,800 billion and $ 3,200 billion, respectively. However, the data does not include Bitcoin transactions made off-chain with solutions such as Lightning Network, which would further increase the volume traded.
Because it is important?
Bitcoin flexes its muscles. The signs of greater adoption and growth of the network are increasingly evident and the overtaking of PayPal in terms of volume of transactions demonstrates how the Bitcoin network can manage billions of dollars of transactions in a decentralized and efficient way. The growing number of platforms, services and merchants that use or accept Bitcoin is stimulating the interest of the population and pushing people to experiment with the use of Bitcoin not only as a long-term investment but as a payment method.
Source:Cryptonomist
