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Learning & News => News related to Crypto => Topic started by: sirty143 on June 12, 2024, 02:21:28 PM

Title: 'First Citizen' of Bitcoin City Leaves El Salvador After Waiting Over 2 Years
Post by: sirty143 on June 12, 2024, 02:21:28 PM
'First Citizen' of Bitcoin City Leaves El Salvador After Waiting Over 2 Years for Its Construction

Corbin Keegan, a U.S. national who self-proclaimed himself as the first citizen of Bitcoin City, has temporarily left El Salvador after waiting over two years for the state to build the settlement. President Nayib Bukele first announced this infrastructure proposal for Bitcoin City in November 2021. He also explained that the settlement would be... See more for yourself here (https://news.bitcoin.com/first-citizen-of-bitcoin-city-leaves-el-salvador-after-waiting-over-2-years-for-its-construction/).

Your opinion is greatly appreciated.
Title: Re: 'First Citizen' of Bitcoin City Leaves El Salvador After Waiting Over 2 Years fo
Post by: Baofeng on June 12, 2024, 02:37:27 PM
It was said that he will come back, maybe he will have to wait for it to start constructing before he can come back again to the city and proclaimed himself as the first citizen.

And perhaps with this news though, Bukele might push it hard for the city to be build he said it way back in 2021 and that's why Corbin Keegan became so interested in it. However, it's like 3 years of waiting and nothing happens, so it's better for him to go back to the States first and see everything from the background.
Title: Re: 'First Citizen' of Bitcoin City Leaves El Salvador After Waiting Over 2 Years fo
Post by: yhiaali3 on June 12, 2024, 10:08:06 PM
Quote
The so-called Volcano Bonds, which received regulatory approval last year and would be used to finance Bitcoin City’s construction, were estimated to be issued during Q1 2024. Nonetheless, they haven’t been issued yet.
Big dreams, but they crash on the shore of reality. The volcano bonds that will be used to finance the construction of Bitcoin City, which were expected to be issued during the first quarter of 2024, have not yet been issued and we have entered the third quarter of 2024. What is all this nonsense?

It seems like it's going to be a long, long way to go - if they make it in the end - so naturally the supposed first citizen of Bitcoin City will get bored and go home and catch up on Bitcoin City news online ;)
Title: Re: 'First Citizen' of Bitcoin City Leaves El Salvador After Waiting Over 2 Years fo
Post by: Captain Corporate on June 12, 2024, 10:22:57 PM
I mean this seems temporary, plus we are seeing something that's a bit his fault maybe? Just because there was an announcement, doesn't mean that it started, its just a "we will do it" by the president but that's about it. We should consider this as a bit of his problem because it wasn't even started when he went there, so that makes no sense. I believe that this will be built if president doesn't change and someone else gets elected, volcano bonds will eventually happen as well. I just think that we should be considering it taking a bit more time though, it is not a simple thing to build a whole city.
Title: Re: 'First Citizen' of Bitcoin City Leaves El Salvador After Waiting Over 2 Years fo
Post by: electronicash on June 12, 2024, 10:56:16 PM
Quote from: Captain Corporate on June 12, 2024, 10:22:57 PM
I mean this seems temporary, plus we are seeing something that's a bit his fault maybe? Just because there was an announcement, doesn't mean that it started, its just a "we will do it" by the president but that's about it. We should consider this as a bit of his problem because it wasn't even started when he went there, so that makes no sense. I believe that this will be built if president doesn't change and someone else gets elected, volcano bonds will eventually happen as well. I just think that we should be considering it taking a bit more time though, it is not a simple thing to build a whole city.

the construction just started this year says the article. i think the reason why they were staying in the country is just to attract more Volcano bonds investor. they've been promoting it since including that Bitcoin beach.

Keegan seem to be just too excited to live in a Bitcoin City when there is infrastructures are yet to be built.  afaik Max Keiser lives in this city as well.  if they can go out the country anything, i guess Bukele isn't such a controlling dictator.
Title: Re: 'First Citizen' of Bitcoin City Leaves El Salvador After Waiting Over 2 Years
Post by: TomPluz on June 13, 2024, 04:50:41 AM


This can just be temporary and we have to understand that not all projects will go smoothly as surely there will always be bumps and problems along the way, no matter how good is the vision of the project is. And in many cases, it can really take years - the time element - for a project to materialize. Now, with a good political will already at hand, I am sure that soon things will start to get positive with this Bitcoin City which can be a big landmark for El Salvador and a symbol of its commitment towards Bitcoin and cryptocurrency in general.
Title: Re: 'First Citizen' of Bitcoin City Leaves El Salvador After Waiting Over 2 Years
Post by: NotATether on June 13, 2024, 11:05:53 AM
Hot, controversial take, but I think the bitcoin city is not very important right now.

Now before you guys come for me, hear me out. El Salvador has historically been a poor country. They should use their bitcoin reserves strategically and make themselves debt free and out of poverty, so that they can become one of the strongest countries in central america. That would be very good for the people, wouldn't it?
Title: Re: 'First Citizen' of Bitcoin City Leaves El Salvador After Waiting Over 2 Years
Post by: ABCbits on June 13, 2024, 11:29:48 AM
I think it's more important to note he was there waiting for 2 years, even though people usually expect building city with specific goal/purpose usually took long time. And while he state he'd return in December, maybe he should live elsewhere longer to find better paying job and maybe buy more Bitcoin.