What The Media Won't Say 1
One of the most interesting things to me as regards the Bitcoin being accepted as legal tender news in El Salvador is the part where it'll cost 3BTC to purchase a property in El Salvador, thereby procuring a permanent residency.
I was going to add this to my post yesterday but that post was becoming so long already, even till now, there's not a single comment on it, although it seemed to have gotten some unusual upvotes so I guess you're all still feeling me. Gracias!
So, let's get into it. Residency by investment has been a thing since forever...” A residence by investment program is another way of obtaining temporary and permanent residence when you are required to invest in a country of your future residence.”.
According to my SourceThe list of countries offering residence by investment is here...
- Canada.
- Cyprus.
- Greece.
- Malta.
- New Zealand.
- Portugal.
- Singapore.
- Spain.
- Switzerland.
- United Kingdom.
- United States of America.
From the countries listed above, the cheapest amount you can invest with is $200k, you're lucky if you get $150k, with El Salvador’s new law, it'll cost roughly about $177k to get a permanent residency at today's Bitcoins price, it cost $90k last week when BTC was at $30k.
The media is quick to reveal that there's a high rate of crime in El Salvador, heck there is high rate of crime everywhere, the United States included, Spain, Singapore....but the media won't tell you that, it's about the FUD remember? They'll milk every nipple of FUD till it's sucked dry....thanks gracious I don't like milk.
Looking behind the scenes, what we will see is a nation about to be super legitimately prosperous, think of Dubai, but instead of oil money, replace it with the type of money that is programmed to appreciate, boom!
The Snowball Effect
Let's say 10 people invested 3BTC each in El Salvador the second day the announcement was made and they paid as at when BTC cost $30k, with that, El Salvador will own 30BTC worth $900k. We all agree that this is one of the Bitcoins ever lows, once BTC takes off from here we might never see $30k BTC again.
What then do you think will happen to El Salvador’s treasury? Let’s say BTC does reach a high of $100k or more by the end of the year or even before? If El Salvador then decides to channel a bunch of these resources into the development of the country, Dubai style, then El Salvador will very much move to become one of the best places in the world, or isn't what that they say about Dubai these days?
El Salvador doesn't need to even sell its Bitcoins holding to fund development, we are now in the world where both native and wrapped Bitcoins can be made to earn profit by staking them in a myriad of both centralized and decentralized platforms, depending on the choice, for example, Thorchainis the only platform that offers both “decentralized and native” option in one place,
The ripple effect of this on Bitcoin is that it just found another sinkhole (deep pocket), like the institutions that are replacing their Dollar treasury with Bitcoin,like the common man that wants to protect the value of his hard-earned money from devaluation or through inflation of the dollar and buys Bitcoin.
The ripple effect of this on El Salvador is that depending on how the development is done, El Salvador can become one of the most popular centers of Tourism in the world, they already have beaches so why not? Plus they also appeal to a different class of people, Bitcoiners! The revenue generated from Tourism could be reinvested till tourism becomes a sustainable source of revenue for the country, Dubai style!
The media won’t say this
Now expand this imagination by adding 5 or 10 more countries to the mix, with 50 investors in each, ....trust me, 3BTC is cheap to the people who need such an environment the most and can afford it. Are you getting the picture?
Look at what happened in China as the government placed a ban on Bitcoin miners, El Salvador has automatically placed itself on the frontline as a haven to those miners who were most affected by the ban....this is what is called a Snowball effect, BTC only gets bigger as it rolls...
I mean if I can mine bitcoin by the beach while watching hot Latin American ladies in bikinis while sipping some Henny, and away from the hell of a country I'm currently living in? I certainly will!
And interestingly, El Salvador is already making moves to make mining bitcoin in the most energy-efficient way, that's what the whole mining through geothermal energy is all about, by using the energy of the volcano and water to generate electricity.
This is how Bitcoin becomes the greatest asset in the world, .....but the media will never tell you this! Mahnnnn crypto has never been more fun! Welcome to the future of money!
Thanks for reading...
Check out my previous post to get the full gist about What the media won’t tell you
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Interesting information. I should bookmark this, so in case I will run from Russia, I will check all those variant. lol
Lol thank you, be sure to check for the ones that will be accepting Bitcoin as payment for permanent residency, these ones listed above dont, they're boring if you'd ask me...
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Good point, a relatively cheap citizenship or permanent resident status, which looks pretty good. That’s a beautiful photo, where is it in El Salvador?
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