Location Is Everything?
Once a nation has escalated to a new level of “measures” or tactics not yet seen before, something happens within the moral and ethical fiber of that particular nation. Whether it is born of necessity or not is irrelevant. Something happens within the core of its integral operating mechanism. There are many who have realized this within the Crypto space. The 1st world is not really looking that attractive anymore and encouraging many in the Crypto space to part ways with their respective homelands.
Cryptoneurs do not need a city with a robust economy, unlike a traditionally employed person. Individuals seeking a higher income have always simply moved to a bigger city with more opportunities. This traditional dynamic has zero bearing for a Cryptoneur and therefore ultimately removes the need to be in any particular location.
Third World & Less Significant Countries Seize The Opportunity
Unclear Crypto regulation and increased taxation are two large contributors leading to many seeking alternative citizenship. This is where the more “under the radar” countries are seizing the opportunity and creating attractive tax benefits, basic regulation, and other incentives. The idea of moving to El Salvador a few years ago would not have been seen as a particularly exciting move unless you are like me. I love coastal spots and having access to the beach is a key deciding criterion. I am not too concerned about much else, provided there are basic services and a coastline.
Portugal currently has a zero-taxation on Crypto provided it is earned outside of Portugal. This has been one of the more frequently chosen new destinations for Cryptoneurs.
What Are The Benefits Encouraging Certain Countries To Embrace Crypto?
When you begin to examine the current economy and simultaneously look to the future, it becomes rather clear. To be honest, it’s the same reason we are all involved in Crypto. With Crypto ultimately becoming the largest growth sector going forward, it makes sense to position yourself accordingly. Countries that embrace and build at these stages are ultimately setting themselves up for the future.
Attracting new citizens with capital means that the real estate market receives a tremendous lift. Either building or refurbishing will be taking place at an accelerated pace and the existing economy will begin to receive stimulus in the way it is designed to, by actual purchasing. Instead of punishing innovators, they are embracing them, in the realization that it is actually a more profitable and mutually beneficial approach.
A Healthy Approach
Good business psychology leaves the customer feeling like he has secured a good deal and experience. At the same time, the one providing the service is happy and satisfied with the returns. When both sides are happy, word spreads, and businesses grow. The relationship between the taxpayer and the government is a business agreement, although many seem to be oblivious to this. You are paying for services, which when and if they drop, cause people to consider alternative options.
Smaller and less significant countries realize that attracting Cryptoneurs is a far more beneficial approach than simply stifling and aggressively taxing Crypto.
The Idea Of Bitcoin City
What will countries like El Salvador, Portugal, and other Crypto-friendly hot spots look like in 10 years? Is it possible that they will become an attractive option for citizens who are currently in areas of the world already thought to be top-tier? I definitely think so! To be honest, many of the most sought-after areas in the world are currently extremely unattractive to me. Freedom is at the heart of what wealth and quality of life actually evolve around. As I said, if you have the coast and basic services, you are in a good spot, provided you have freedom and contentment.
The qualities that once defined the 1st world, no longer do. They are now the defining points of up-and-coming alternative countries that have chosen to embrace change and encourage personal freedoms. Kingdoms rise and fall and it appears as if we are busy watching the fall of a kingdom, while another looks set to rise.
Not Just Hopium
There is more to this idea than simply a bunch of Crypto enthusiasts trying to envision the future. Many are and have already left their homes in order to take up residency in more friendly areas. Digital nomads as a whole are also being incentivized to visit certain countries as well. This is not strictly only the Crypto community but also those not reliant on any specific location. This appears to be a growing trend because at the end of the day, provided you can, you will go where you are treated best!