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What El Salvador’s proposed ‘Bitcoin City’ will look like

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El Salvador plans to build a Bitcoin city at the base of a volcano – and according to the nation’s president the cryptocurrency will fund the project

El Salvador’s new Bitcoin city will be circular to represent the shape of a large coin and will be built in the south-eastern region of La Unión, President Nayib Bukele said.

The site would take advantage of the Conchagua volcano’s geothermal energy to power Bitcoin mining, he added.

El Salvador recently became the first country to use Bitcoin as legal tender.

The move led to large-scale protests over fears the cryptocurrency would bring instability and inflation to the impoverished Latin American count

Bukele addressed a raucous crowd at a promotional Bitcoin event in the coastal town of Mizata late on Saturday, and stated that the planned new city would “include everything”.

“Residential areas, commercial areas, services, museums, entertainment, bars, restaurants, airport, port, rail – everything devoted to Bitcoin,”

the 40-year-old said.

President Bukele, who appeared on stage wearing a baseball cap backwards, stated that no income taxes would be levied in the city, only value added tax referred to as VAT

The President confirmed that half of the revenue gained from this would be used to “to build up the city”, while the rest would be used to keep the streets “neat and clean”.

Mining Bitcoin and other cryptocurrencies is done using sophisticated computers to solve complex mathematical problems. It is costly, difficult and takes up large amounts of energy.

Mr Bukele did not provide dates for construction or completion of the city, but said he estimated that much of the public infrastructure would cost around 300,000 Bitcoins.

One Bitcoin is currently trading at just under $60,000.

In September, El Salvador introduced the virtual currency as a legal tender, alongside the US dollar.

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Agricultural Investment: challenges, sustainability and risk management

“Farming: A meaningful lifestyle intertwined with nature, community, sustainability, and the challenges of risk management and market fluctuations.”

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Farming: A meaningful lifestyle intertwined with nature, community, sustainability, and the challenges of risk management and market fluctuations.

In Short

Farming is a rewarding lifestyle that involves overcoming challenges while fostering community and connection to nature. Emphasising sustainability and risk management, farmers adapt and persevere to thrive in their profession.

Farming is not just an investment; it represents a fulfilling lifestyle closely tied to the land.

Farmers experience the daily realities of seasonal cycles and weather patterns that influence their work.

They face various challenges, including disease outbreaks, fires, predators, and fluctuating market conditions.

Despite these hurdles, there are also significant triumphs that come with managing a farm or ranch.

Farming fosters a sense of community, bringing together people who share traditions and values.

There is a profound connection to nature that many farmers cherish in their daily lives.

Sustainability is becoming increasingly important, prompting farmers to adopt more environmentally friendly practices.

This shift not only benefits the land but also helps create new market opportunities by connecting farmers with consumers.

A key recommendation for those in agriculture is to focus on risk management.

Building external investments and diversifying income sources can provide a safety net against uncertainties.

Overall, the farming lifestyle is one of perseverance and adaptation, driven by a passion for the land and a commitment to community and sustainability.

Dr Steven Enticott is a finance professional, speaker, regular columnist, and author of The Man With A Plan.

For more information www.ciatax.com.au

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Budgeting Strategies for Economic Changes Post-2025

“Adapting Financial Strategies for a Changing Economic Landscape Beyond 2025: Budgeting for Uncertainty and Long-Term Goals.”

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Adapting Financial Strategies for a Changing Economic Landscape Beyond 2025: Budgeting for Uncertainty and Long-Term Goals.

In Short

The evolving economic landscape requires individuals to adapt budgeting strategies to manage financial challenges effectively. Staying informed and flexible in financial planning is essential for achieving long-term financial goals.

The economic landscape is evolving, necessitating new budgeting strategies for 2025 and beyond.

It is essential to regularly review and adjust your budget based on changing variables like inflation, interest rates, and fluctuations in income or expenses.

Staying informed about economic trends and financial news is crucial for making informed decisions regarding your finances.

Building a solid financial foundation will help individuals manage economic challenges and work towards their long-term financial objectives.

Flexibility in budgeting and an awareness of economic conditions will contribute to successful financial planning.

Achieving financial goals requires proactive measures and adaptations to ongoing changes in the economy.

Investing time in understanding financial trends can empower better decision-making regarding personal finances.

Preparation and adaptability are key in a volatile economic environment.

Establishing stable financial habits will provide resilience against unexpected economic shifts.

Overall, adapting budgeting strategies in response to the changing economic landscape will be vital for financial success in the coming years.

Dr Steven Enticott is a finance professional, speaker, regular columnist, and author of The Man With A Plan.

For more information www.ciatax.com.au

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Micro-investing: the tactic turning spare change into life-changing wealth

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How young Australians are reshaping their financial futures with small, smart moves

Investment Insights is an informative and inspiring interview-style show that dives into the world of money management and wealth creation, making complex financial concepts accessible to all.

Hosted by the Founder of The Investor’s WayAndrew Woodward.

Micro-investing is becoming a popular financial tool, especially among younger investors. Offering low entry barriers, automation, and the benefits of compounding, micro-investing allows users to start growing wealth with small amounts. It’s an ideal option for those looking to develop positive financial habits early.

With time on their side, young investors can leverage micro-investing to build a solid financial foundation, but they must remain mindful of costs and strategies to make the most of their investments.

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