Bitcoin City – Manila Bulletin

 Bitcoin City – Manila Bulletin

ONE FOR THE ROAD

James Deakin

Last September, El Salvador became the first country in the world to adopt Bitcoin as legal tender; two months later, just last Friday, their president, Nayib Bukele, shocked the world once again with the announcement of Bitcoin City –– a digital investor’s paradise that promises zero percent income taxes, zero capital gains tax, zero property tax, and zero municipal and payroll taxes.

Are you paying attention yet?

If you are wondering how El Salvador will source its revenue from these digital nomads, they will achieve that through a 10 percent VAT on all purchases , as well as selling bonds against the energy they produce to mine Bitcoin. It is the ultimate middle finger at the system and it has started off a revolution of sorts that Hillary Clinton recently warned will destabilize America. Needless to say, the fear…

Read full article at mb.com.ph