El Salvador Bitcoin city planned at base of Conchagua volcano The city will be circular to represent the shape of a large coin and will be built in the south-eastern region of La Unión, President Nayib Bukele said. The site would take advantage of the Conchagua volcano's geothermal energy to power Bitcoin mining, he added. El Salvador recently became the first country to use Bitcoin as legal tender. https://www.google.com/amp/s/www.bbc.com/news/world-latin-america-59368483.amp
"El Salvador is the fifth poorest country in North America with a per capita GDP of $4,131. El Salvador has a small elite population that became wealthy through the country's coffee and sugar production. On the other hand, about 40% of the population falls below the poverty line." -- from worldpopulationreview The small rich elite are using govt money for this boondoggle. They oughta call it Trump City or better yet, Griftville.
I don't think anything good happens near a volcano. One destroyed Pompeii. Another sank the island in Joe vs the Volcano. I wouldn't be surprised if this marked the ultimate top in Bitcoin.
I think the only way to have a top in BTC is for the government to say no more printing, no more spending, we will balance the budget every year and work on paying back the debt.
Again, I ask the crypto folks here...The FACK the BTC has anything to do with the government? It seems to me that the whole idea of blockchain being some separate thing from the government and fiat has unraveled fairly quickly. You cannot have one without the other.
Bitcoin is insurance against a systemic failure of government monetary policies I can recommend the book "The Bitcoin Standard" for much more details
When was the last time there was a SYSTEMIC FAILURE of governmental monetary policies in the United States? And if there was, how could Cryptos have helped the USA avoid economic collapse?
You have to expand your horizon. The printing of fiat currencies is not only happening in the US (but the risk is not 0% in the US) Look to Lebanon, Venezuela, Turkey, Afghanistan, Argentina, Gaza/West Bank and how the ones that own Bitcoin and cryptos have been able to survive kazakhstan is crazy right now, but no internet there so the ones who own cryptos have to make sure to bring their usb or memorize or email to themselves the private keys The whole world is probably bankrupt now, pushed there by Covid, so who knows what the future will be Everyone should buy Bitcoin or cryptos as insurance, but whatever, everyone has to decide on their own