Volcano ???? Bonds

Bitcoin City is the proposed micro Dubai of El Salvador. As a citizen of this place, you will enjoy:

• Zero payroll taxes
• Zero capital gains taxes
• Zero real estate taxes
• Zero electric or heating bills as the volcano's geothermal will make the city a zero carbon metropolis
• 10% VAT (value added tax, like sales taxes)

The bonds will be issued on Liquid Network (a bitcoin sidechain) for $1B. The smallest increment you can buy is $100, and requires you stake (tie-up) your bitcoin for 5 years.

El Salvador will use $500M of that to buy bitcoin, and to buy mining equipment. The other $500M will be for city and volcano [geothermal] energy infrastructure.

The bond coupon (interest rate) is 6.5% APY

After 5 years, a special dividend will be awarded as they slowly begin liquidating their BTC.

They plan on servicing the bond coupon (paying the interest rate to bond holders) with:

• 50% of the VAT
• Profits made from mining
• An appreciation of bitcoin's price

The risk/reward here for them is enormous. Will the shanty town of corrugated metal huts and its people move willingly? Will enough private capital pour in to build the homes, bring the businesses? Can President Bukele (pronounced Bū-kā-lee) be trusted to deliver? This is an incredible undertaking.

If bitcoin were to say double from where it is today, they will have made the best move in their small country's history. They'll have more or less financed a city from a swamp, improved tens of thousands of lives in the area, attracted foreign investment and citizenship (which they plan on lowering requirements to ownership of 1 BTC), and proven the longterm belief that bitcoin by its nature incentives green energy along the way to reducing its own liability.

Even if the bond sale itself (they do plan on 10 of them so $10B total) sells out quickly, it will be enough to capture the attention of many other Latin American countries and countries around the world. It's hard to explain what effect large lockups of BTC and subsequent buys-investment-adoption of this could have. Already we're getting late in the distribution phase and over a decade of longterm accumulation will give us a major supply shock sometime in early 2023 (most claims heretofore have been dubious, but we're getting close).

For investors sitting on a surplus, I see no downside, especially ones like myself that are longterm hodlers anyway. I can't say I'm a big fan of sidechains like Liquid Network or some of Bukele's political maneuvering, but El Salvador has thought outside the hyper-imperialism that the US dollar has boxed so many desperate countries into. So I see it as a duty, then, to support El Salvador's endeavor with a small allocation of BTC to volcano???? bonds. Maxi's, dear reader, are like the thorns that grow when a rose is young to protect it until it flowers. Because you have to understand that ADOPTION is the most important part of bitcoin's success now. Not price, not regulation, nothing but adoption. So I implore those that bought their first hard wallet or stacked their first SATS to educate those around you and be patient with them, but relentless:

https://www.spectator.co.uk/article/the-5-per-cent-of-people-who-get-to-decide-everything

P.S.

⚡️ is coming

—Mallardshead ????