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Bitcoiner from Madeira interesting.

Do you see any reason legislation of Bitcoin being exemptioned from taxing going to change anytime soon in Portugal/Madeira ?

Any idea on how Madeira might react if the EU will push for such thing or even turns toxic against Bitcoin holdings ?

Madeira is an autonomous region of Portugal but will it be able to withstand much force from the EU ?

Nicolau Teixeira 7mo ago

As a Bitcoin maximalist madeiran: true maximalists dont sell! Adoption is the priority. Madeira is fostering a Bitcoin-friendly environment, with growing community and political support.

If Madeira were not bound by EU law, Bitcoin could already be legal tender here. For now, the euro remains the only official currency, but Bitcoin use in private commerce is growing.

We've had prominent figures like Michael Saylor speak on the island, and currently, Madeira boasts over 140 businesses accepting Bitcoin via the Lightning Network, with some also accepting on-chain payments.

Many Madeirans have a natural openness towards personal freedom and innovation, so encouraging Bitcoin adoption here is not too difficult. Of course, there are some barriers, such as older generations or Bitcoin’s volatility, but over time more people come to understand that 1 Bitcoin = 1 Bitcoin.

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Discussion

FreeYoda 7mo ago

Adoption is > hodl, it also means spending.

In most of Europe you can't spend Bitcoin yet.

I want to live on a Bitcoin Standard.

That is why I'm interested in Portugal/Madeira.

But if I see a big chance of these countries bending the knee for Europe (taxing Bitcoin gains, or worse) I better start relocating even outside the EU.

I was hoping Madeira could resist some EU pressuring, but I don't know of that is possible/sustainable in the longer run ?

Nicolau Teixeira 7mo ago

It depends on what happens, for example, if new pro-Bitcoin representatives enter the EU. Madeira has potential in the short/medium and even long term, but EU pressure may or may not increase. Relying solely on it long-term is risky, and I understand why having a plan outside the EU makes sense. Maybe El Salvador could be an interesting option.