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Sunday, March 26, 2017

Libertarian City Liberstad in Norway is Moving Forward Using Bitcoin as Primary Currency

Libertarian City Liberstad in Norway is Moving Forward Using Bitcoin as Primary Currency

A project in rural Norway, Liberstad, aims to create a private, tax-free city for libertarians who respect the non-aggression principle and private property rights. Holding a presale now, the project’s organizers accept bitcoin for land and plan to make it the city’s primary currency. talked to John Holmesland, the general manager of the company that operates Liberstad, to learn more about how the project is progressing.

Holmesland and his team started looking at properties for Liberstad in August 2015 and found Tjelland Farm with the appropriate “size, location, internet and electrical connection, water supply, good construction ground, and no permanent residents on the surrounding properties”, he told An agreement was made to rent this property until May 19 to give them time to sell at least 15 hectares of plots, then buy the property for 5 million Norwegian kroner. For the presale, which started on August 15 last year, Holmesland said:

"We only accept Norwegian kroner (NOK) and bitcoin (BTC) for land sold through the presale."

Each plot of 1000m2 costs 35,000 NOK (about 4,000 USD), and the reserve price is 7,000 NOK (approx. 800 USD). If the land sale target is reached, development will start on June 1. After rezoning and waiting for the government to approve the development plan, Holmesland estimates that full development could begin within 24 to 36 months. During that time, the team plans to build roads, campsites and concert areas for landowners to use free of charge.

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