On the other hand, Bitcoin City is an entirely relevant, physical concept, much like any other city across the globe. The only difference is that the Bitcoin City will be backed by Bitcoin-based funds instead of fiat currencies.Simple, right! For the unversed, Bitcoin city will pan out like a coin with the city centre sporting a huge BTC symbol. Bitcoin city seeks to introduce a new lifestyle for the residents, free of payroll, property, and income taxes. As per the schematics, Bitcoin city will use geothermal energy for Bitcoin mining, i.e., to account for the work done by the computing nodes.

Source: Economic Times December 02, 2021 17:46 UTC