So far, 2021 has been a significant moment in the crypto-sphere, with a rising number of individuals electing to hold in these decentralised digital coins.
Over 2 million individuals in the United Kingdom have already invested in bitcoin; nevertheless, this figure does not account the overwhelming number of humans impacted vicariously by this currency.
There are thousands of other cryptocurrencies available; however, this discussion will revolve around the two in particular, HUH Token, which is being released on the 6th of December and is currently in a presale that is ending in the next few days. And Dogelon Mars, whose ultimate goal is to create a Martian city.
In regards to cities, very recently, El Salvador’s President, Nayib Bukele, has declared plans to develop an oceanside ‘Bitcoin City’ at the foot of a volcano.
Bukele intends to put the Central American country on the map as a new tax haven, competing with the Cayman Islands. With the added selling point of the transactions that are done there can be processed entirely in non-traceable cryptocurrency, which has been a legal currency since September.
While some detractors worry that the country’s adoption of Bitcoin may promote greater criminal activity, the president believes that the investor-friendly Bitcoin City will help the country’s economy.
Bukele indicated that a bond sale would take place exclusively in Bitcoin in 2022. Then construction would begin 60 days after funding was approved. The city will be constructed near the Conchagua volcano so that geothermal energy can be easily accessed, which will be used to power both the city and Bitcoin mining, as it is an energy-intensive process to complete the complicated mathematical computations day and night for validating decentralised transactions. The Conchagua volcano is located on the Gulf of Fonseca in northeastern El Salvador.
The government is already piloting Bitcoin mining at another geothermal power station near the Tecapa volcano. The government would offer land and infrastructure while also attempting to recruit holders. Bukele said that there would be no property, income, or municipal taxes and that the city would emit no carbon dioxide. The city would be created to attract international investment.
The president discussed digital education, technology, and environmentally friendly public transportation.
Critics have cautioned that the currency’s lack of transparency may bring more criminal activity to the nation and that the digital currency’s rapid fluctuations in value may endanger individuals who own it.
Bitcoin was designed to function outside of government-controlled banking institutions. Bukele believes it will help bring international investment to El Salvador while also making it cheaper for Salvadorans living abroad to transfer money home to their family.
As Bukele moves to solidify control, the Salvadoran opposition and other observers have become more concerned.
El Salvador is not the only place with a coin city in mind. Dogelon and its inventor have the ambitious objective of making Mars their destination of choice for its metropolis. This idea isn’t quite as practical as the president’s ambition and honestly seems like a gimmick that is riding on the back of Elon Musk to generate perceived value.
A new currency called HUH Token is also trying to build a culture for itself. It has an interesting array of social media designs that they are using to cultivate an army known as the HUH nation. As the saying goes, “Build it, and they will come.” This cryptocurrency seems to focus on creating a strong community foundation and allowing their digital city to spawn around them. There are plans for an NFT marketplace built around social media. HUH Token has an incredible number of holders for only being in a presale. Some of those holders are influencers with giant followings.
The cryptocurrency wants to abate any notions of foul play or dishonesty and have been communicating well on their Telegram. There is $1,000,000 in liquidity which is an outstanding amount for an initial release of a currency, and the Certik audit will be finished by the end of this week. This liquidity is locked in for two years via contract. Not only this, but their eagerly anticipated whitepaper is to be released this week too. This is a cryptocurrency that clearly values longevity and communication.
The techonomic strategy of HUH Token has a unique referral system that is built into the smart contract. It allows anyone who purchases HUH Tokens for the first time will be given a code. This code can be given to another person who hasn’t invested in HUH Token. This person who is referred then can purchase at a reduced sales fee. 10% of that purchase is then redeemed into the original code owner’s cryptocurrency wallet as either Binance or Ethereum, depending on the exchange being used.
This combination of wildfire culture and stable communication is a great sign for a potential bullish project. You can never underestimate the power of entering a coin early, there are risks, but with cryptocurrency, there always is. I would hate to miss out on the next coin that goes 100x over this coming Christmas period.
