El Salvador plans to create an entire city based on Bitcoin

El Salvador's government is throwing even more of its weight behind Bitcoin. Coindesk and BBC News reportPresident Nayib Bukele has unveiled plans to build a "Bitcoin City" near a volcano along the Gulf of Fonseca, between La Unión and Conchagua. The metropolis will have its own geothermal power plant to help support crypto mining, and there will be no capital gains, income, payroll or property taxes, just value added tax. The city will be shaped like a coin. While it should include the full am...