Want to Live in a Crypto Utopia? Head to Puertopia!
So it has begun; a group of crypto wealthy people are building a crypto utopia in Puerto Rico in effort to show the world what crypto living would look like.
Motivation
Now the initiative seems like a great one, but let's also realize its a good business move for new found crypto millionaires to relocate and establish residency in Puerto Rico as the tax advantages are large indeed.
I mean, if I had over a million in crypto I'd do it!
There is no federal personal income taxes, no capital gains tax and favorable business taxes in Puerto Rico. Best part, you don't need to renounce your U.S. citizenship.
Puertopia
Now let's get back to what the initiative is looking to accomplish. The goal is literally to build a city of it's own; we are talking it's own airport and infrastructure with everything being done with cryptocurrency and publically visible smart contracts.
According to the article attached in this post the group is close to getting approval from the Puerto Rican government on a cryptocurrency bank too.
Leading the Charge...
Obviously there are many people involved in this project, but the gentleman that is getting the most attention for leading this initiative is Brock Pierce.
After seeing some of the reporting, he seems like an eclectic individual to say the least, but I suppose that's in order for society shifting living.
I do hope this works out as I'd love to see the impact of a cryptopian city on the world's view of crypt.
Though, gotta say what I read about Pierce's rituals and just seeing him in the picture below makes me wonder if this could also go the route of scientology - yeah, whatever I'm always a skeptic....I'm the scaredycat for a reason ;-)
To read the entire article, go here: https://www.cnbc.com/2018/02/02/making-a-crypto-utopia-in-puerto-rico.html
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Best Regards,
Disclaimer: All info in this post is my opinion and for educational use.
Free e-book: ScaredyCatGuide to Knowing What the Heck Bitcoin Is
Best Regards,
Disclaimer: All info in this post is my opinion and for educational use.
The article doesn't say how much it cost to buy citizenship...I need more cryptos!
For real!
How did that Brock Pierce guy made his crypto fortune? Early adopter?
Well, I mean...you could read the CNBC article to find out ;-P Hint: Mostly from mining Bitcoin, alot of it!!!
Damn... i feel like i came late to the party, the drinks are half over and there are only like 3 or 4 guys REALLY drunk
Yeah, for real. I got into crypto July 2016 and didn't really jump in until early 2017. One year earlier and I'm headed to crytopia! :-)
I got into crypto in December... still pretty new at all this, the drinks might be half over but by them time everyone joins the party the drinks will be 99% over
You are forgetting the part where crypto has just barely come into mainstream conciousness... If you make the right investments, and hodl you might be pretty happy in a few years. Anyways, drinks are cheap...
My problem is that i'm low on cash to invest, 1k of cryptos isn't going to make me a millionaire... i think
i see ppl investing 20k and 100k
He reminds me of Mc ballyhoo
Shhhh... maybe he is a whale on steemit too and you will get flagged to hell xD
This is pretty cool. Something like this had to happen eventually. Good for Puerto Rico as well.
I think you my know this guy..... lol
Slacker Cat...he's supposed to be handling mascot duties!
I think he's scaring himself.
wow ... what a nice post @scaredycatguide . i like your Want to Live in a Crypto Utopia? Head to Puertopia post. thanks for share the post.
And hiding from USA tax sniffers is not mentioned anywhere :)
No hiding necessary. No capital gains taxes, and a 4% income tax on services provided from the island to people outside the island.
IT MUST BE ALIENS
Safe and successful always
You mean they’re not in it to change their community and the world for the better? You big skeptic, you! 😂
He’s one of the main guys involved in EOS, right?
Very interesting information, thank you for sharing.