Bitcoin Island: How the World’s First Crypto Community Is Created in the Caribbean

The tropical island of Bequia in the Grenadines has always remained in the shadow of neighboring Mustique Island, a favorite vacation spot for David Bowie and Mick Jagger. But that may soon change. Developer Storm Gonsalves, 29, is building the world’s first crypto community on a tropical island. He told why he is not afraid of leaps in the course and believes in the success of his project.

Bequia is the second largest island in the Grenadines, located south of Saint Vincent and north of Mustique. Now it is increasingly called the “bitcoin island”.

Gonsalves plans to build 39 luxury villas, bars, shops, restaurants, a clubhouse, a gym and a private cinema on Bequia Island.
Bitcoin, Bitcoin Cash, Ethereum and Dogecoin Will Become Local Currencies
Homes with two to five bedrooms will cost between $ 1.1 million and $ 2.3 million.
Bequia has always been something of an island of sailors, where they went to hide from everyone, without the Internet,

“It was an almost uninhabited island,” says Gonsalves. “But for people of my generation, things are a little different: they also want adventure, but they need fast Wi-Fi, and this is a problem we are trying to solve.”

Gonsalves says the project was inspired by his mentor Felix Dennis, a multi-millionaire and British media mogul. The founder of Maxim magazine bought his villa on Mustique Island from David Bowie himself. He used some bitcoin as collateral when he borrowed millions out there – now bitcoins alone have more value than gold reserves up until around 2010. But that may change once internet penetration starts getting high enough at home. For example if you live all over Britain (and maybe Europe), then I doubt many others would allow their connection points connect back to Israel or Iran’s eastern border anyway. And even though international trade still thrived off virtual currency exports just before 2008, prices suddenly skyrocketed shortly afterwards because US government imposed sanctions against companies involved trading overseas – so traders were forced not only into using other crypto currencies like BTC/USD and ETH/BTC.

The Caribbean has many exclusive resorts and communities, but Gonsalves and his company One Bequia are planning to create a unique offering.

“House prices are quoted in US dollars, but we also offer the option to pay in cryptocurrencies. We accept Bitcoin, Bitcoin Cash, Ethereum and Dogecoin, which seems to be the favorite of Elon Musk, he notes. “I realized that people who hold very valuable portfolios of cryptocurrencies don’t really have an easy way to spend them on real estate purchases. If we make it very easy for someone to pay in Bitcoin or Dodgecoin, I think it will set us apart from our competitors.
In his opinion, many people avoid cryptocurrencies due to irrational fear. But he is not afraid of jumps or sharp collapses in the exchange rate. And then there are those whose lives revolve around investing with crypto as their only investment tool. “It’s fun,” says Mr Garcia. “If you can invest right now through Cryptocurrency here at Home You Can Profit In 2 Months.”

So if interest doesn´t rise before Christmas, wait until February 10th – where cryptospace could launch its own platform -because all trades may begin November 12th by special instructions sent via SMS text message, just like any other instant cash transaction involving fiat currency? What else exactly does this promise get about The Company? To sell one room (or share) within 120 days after start date!

The entrepreneur says that the island will accept bitcoins or other approved cryptocurrencies as payment. Cryptocommunity will use payment systems approved by the Financial Crimes Network of the United States Department of the Treasury.

The fluctuations in the exchange rate will not affect the convenience: after the formation of the account, the cost of the cryptocurrency will be fixed for 15 minutes.

“I spent most of my childhood on Bequia Island, so they know me there,” says Gonsalves. “People came up to me in stores and asked when they could start working, farmers asked me when they could start supplying a restaurant, sell their goods in stores, and so on. So everyone on the island was very supportive. “

Gonsalves estimates the $ 50 million project will generate several million dollars a year for the community. At present some people receive almost none of the money from business activity because no real income is generated anywhere else – it only reflects interest paid back via debt service; if I’m given Bitcoin Cash but don’t pay cash dividends due soon enough, then someone who received an ordinary share may have lost half its value immediately afterwards. For example this might mean being able do construction work with about 20% less than normal salary (only 25 BTC at one time), using 5-10 days rent payments instead…it’s possible without worrying too much whether things are going well until you take into consideration what happens next.: Domingo de la Torre writes his storie.