Oddbean new post about login | logout Max Keiser is shilling El Salvadoran passports for $1 Million a pop, trying to get 1000 Bitcoiners to move there. Remember, passports are a shitcoin. https://i.nostr.build/BOvP.jpg nostr:note1xzzveqrtd6hp07z5dgkjtgdtgfmz25s8g22mtkcjck7ujyw98evsh8u8ze
Once a grifter, always a grifter.
They initially discussed the cost being around 1 bitcoin. 🥹
It was 3 Bitcoin initially when announced in 2021 at around $33k. https://internationalwealth.info/en/permanent-residence-permit-abroad/el-salvador-passports-for-crypto-part-of-presidents-independence-plan/
But you can get a visa for $100/a year, after 5 years you can get permanent residency if I'm not mistaken
Yep, $90 actually. Just pay an extra $999,010 to bypass the 5 year residency requirement.. Absolutely awful deal.
Wonder if they know another country (or multiple) is going to copy their maneuvers and so they’re trying to cash in while they’re still the only game in town? Seems like a total rip off.
Definite possibility. And compared to existing other options where Bitcoin might not be legal tender like ES but the gov is not openly hostile to it, this is by far the worst deal going. I also wonder if Max hasn’t made Bukele a bunch of promises of how he would be able to bring in outside investment from Bitcoiners, has failed to deliver, and has been told to put up or get out. $1M passports seems really desperate, and Max is posting some really dumb shit to push it: https://i.nostr.build/4YEL.jpg
It definitely seems like a move they’re either pulling because they’re desperate or potentially bc there is so much demand to move to Eas they know they can raise prices like that. To anyone normal it seems ludicrous. That and if Bukele turns out to be a scammer or he gets ousted or something happens to him, likely the experiment is over. I don’t wish for that but the situation seems somewhat fragile. Especially to risk a milli on.
Lol worst Bitcoin you'll ever spend, only people moving there are already VC funded, were fiat rich already or getting a sweet heart deal to shill these products Why would you need a 1m a pop if you're stacking so much #Bitcoin and you're in profit? What happened to the Volcano bonds?
Volcano Bonds are before parliament now as I understand it. Why would a country of 6.5 Million want 1 Million expats when they have a ton of their own citizens to repatriate yet.. good question. Money is the only answer I can think of. Inside a decade you’ll be able to get diplomatic passports for less than this. Truly targeting early adopter ideologues.
They just want your Bitcoin. But Bitcoin knows no borders, and needs no passport.
Sounds more like a bribe
Serious question: What can I do in El Salvador that I can't do in the United States? Conversely, what can't I do? nostr:nevent1qqsdg6vpy5w05rwzalx9jpw0vdsta0xcjwg566rwl62rm76euedl2wqpzemhxue69uhhyetvv9ujumn0wd68ytnzv9hxgq3q0jnx6stxk9h4fgtgdqv3hgwx8p4fwe3y73357wykmxm8gz3c3j3sxpqqqqqqz2fdeqt
