I hope you didn't start packing your bags too in order to move to Madeira.
Move? No way!
I wouldn't move to any EU country just for bitcoin being legal tender, I have a family with a little kid, I have friends, trading an average EU capital for one of the poorest regions in the western part for that alone? I've been to Funchal (ok, for one day only
) but I wouldn't spend my life there, a small city, indeed clean and neat but still probably I would get bored in a month or so, not for me. Living on an island where you have to get used to what's available or fly to Lisbon every month does not match my plans for a comfortable easy lfie.
But the thing about it's legal tender no it's not still pisses me off even now, one week after.
These regions are embracing bitcoin to stimulate their own economy, by offering a crypto friendly place to highly skilled crypto experts. This will lead to immigration of highly skilled and high earning techies to maderia, this will help to increase GDP, diversify work opportunities and developments in these regions
Bruh, we're talking about an island of 250k population and a capital city of 100k, just because they have no tax on crypto do you see people flocking to that en masse so that a company would have a big enough highly qualified pool force to rely on?
There are countries who have tried this with no tax on income completely and no tax on the business itself and failed to attract anything, if it were[ that simple the world would look completely different now in terms of GDP distribution.
Of course this would be an extraordinary thing if the municipality really wanted to adopt bitcoin widely.even though Madeira is a small town in Portugal
Nice, I was getting bored with people calling Madeira a country, now it's a city, that's something else.
