Bitcoin is popular, no doubt about it. But some bitcoin enthusiasts may be taking their devotion to the technology way too far. A group of bitcoin enthusiasts have come up with an idea called Bitcointopia. The concept is a city powered by bitcoin and that provides bitcoin jobs. Essentially, Bitcointopia will be the “United States of Bitcoin” and at this stage, it sounds like a far-fetched idea.
The Tenants Of Bitcointopia
There are several tenants of this new concept and they are as follows:
Of course, Bitcointopia will be nothing without Bitcoin. As is it easy to surmise, the center of the new country is bitcoin and it will operate as the sole currency. All business transactions will be performed with bitcoin.
- Bitcoin for Merchants
Unlike today, where there are millions of merchants who have not adopted bitcoin, those who live in Bitcointopia will be required to adopt bitcoin, including merchants. Businesses will accept bitcoin as a legal tender and the city department will have to do the same. Although neighboring cities may invoke a different currency, bitcoin will have to be the operating media for online transactions.
Finally, those who are interested in a new housing system will have the opportunity to delve into it in Bitcointopia. All land, utilities, infrastructure, and the like will be purchased with bitcoin.
Bitcoin As A Revenue
Interestingly enough, Bitcoin will also function as the state’s revenue and not just its currency. The revenue will be generated through bitcoin mining and the mine will employ most of the city’s residents, miners, and developers. Better yet, the potential location may be ideal for the mining project. The founders are looking toward developing this new state in own plains, mountains, and rivers that have been unaltered by human activity.
The Politics Of Bitcointopia
Bitcointopia envisions a completely governmental system. That is to say, anyone can run for government – one does not need to be rich or famous. The democratic process will also be fueled by blockchain technology. Votes will be stored on the blockchain and there will be no need for a centralized voting register. Rather, votes can be signed digitally. Further, all political transactions will take place on the blockchain. Essentially, the democratic process may be much more transparent.
500 Plots for Sale
Finally. Those who are interested in being a part of this concept may be able to – there are 500 plots for sale. The lots range in size – from 1 to 3 acres. Purchases start at 0.5 BTC and upon purchase, the State of Nevada will issue the land need within 3 to 6 weeks. Those who are looking for an alternative to actually living in Bitcointopia, but who still want a stake, can purchase a timeshare. There is also commercial land available for those who would like to sell goods and services to miners.
Although this concept is still in the works, it will certainly be interesting to see how it develops over time. Who knows – it may be the concept of the future.