The noncompetitive nature of its validation will ultimately lead to less capacity than competitive validation. Considering the economics this system was dead on arrival. Only capitalism scales.
Residents of Andorra currently enjoy unlimited travel access to Spain and France with essentially no border controls, as well as visa-free travel access to the rest of Euro zone for up to 90 days. The country also has the highest median life expectancy.
You can also establish permanent residence in Andorra by purchasing real estate worth at least 400,000 Euro, at which point you can become a tax resident and pay zero capital gains tax. That means no filing reports every time you earn or spend bitcoin.
While citizenship in Andorra does take a long time to acquire (there are no shortcuts), citizenship can be purchased in another country and permanent residence established in Andorra for as little as 15k Euro when starting a business here.
Good news here actually minority shareholders holding less than 25% of a company are NOT subject to capital gains tax! That means anyone earning Bitcoin in Andorra will not be subject to tax on their gains (for ever Satoshi himself has less than 25%) :D
Oh no sadly I just learned that Andorra _recently_ imposed a capital gains tax for shares held for less than ten years. Sad. Perhaps it is going the wrong direction, or perhaps exemptions can be made and the law eventually reversed. Collectivists!!!!
The benefit of Andorra is its status as a sovereign country within Europe but outside of the European Union federal control. As far as a "concrete project" goes, I have moved to Andorra along with the leaders of Handcash, and will be influencing people.
Hey thanks for that info I am VERY interested in "liberty in our lifetime" (the former slogan of the New Hampshire Free State Project). Andorra is a strong candidate for a free state since it has zero annual property tax, no capital gains taxes, not in EU.