Oddbean

In “brief,” thoughts on El Salvador. In October a friend of mine who is working on the fantastic, up-and-coming, Bitcoin-only rental business @airbtc , said he was heading to El Salvador for @AdoptingBitcoin and encouraged me to go as well. I’ve been lurking in this space since 2019 and decided it was time to participate in meatspace so I bought my ticket. I have no connection to El Salvador, I’d never been, and I speak no Spanish. I don’t pretend to know what the average Salvadorian’s day-to-day life is like. I’m just a humble, gringo pleb and these are my thoughts. Tremendous beauty. San Salvador sits in the shadow of its eponymous volcano, with another twin-peaked volcano just to the southeast. The precariousness of San Salvador’s geology is a persistent reminder of just how precious our time on Earth is, the fragility of civilization, and the critical importance of its continual maintenance. In other words, you get the civilization you deserve. I was fortunate enough to be invited to a local’s home for lunch on my first day before the Adopting Bitcoin Conference. The hospitality was moving. For my first time in a country that was formerly one of the most dangerous in the world, you could not ask for a more inviting first impression. We had never met before but, being a friend of a friend, he invited me into his home like family. Fresh dorado ceviche, Peruvian fried rice with beef, good wine, and wonderful conversation. My takeaway from the conversations will not shock anyone—there is hope for the future but healthy skepticism for Bukele’s administration remains a pressing concern. That afternoon, I went to Beto’s in La Libertad on the Coast. It’s a stunningly appointed restaurant overlooking the volcanic sand-beach from the cliffside. If you want the most incredible sunset view, it’s a must. That evening, I attended the speakers’ dinner for the Adopting Bitcoin Conference. I was not speaking, but, as it turns out, if you pay money, you get special access to things. This began the most inspiring few days of my entire life. I’ve been fortunate to travel a bit and meet people doing amazing things all over the world, but never have I been surrounded with such a profound concentration of brilliance and enthusiasm. The people building the freedom stack of our technological, monetary future are inspiring and humbling. For the next two days I heard presentations on topics ranging from the progress of the threat of CBDCs, innovations in discrete log contracts on lightning, the tyranny of anti-democratic international organizations like the Financial Action Task Force, coffee farming and roasting, youth education, corporate governance, and much more. The diversity of presentations was impressive, but when the common denominator is sound, incorruptible money, it’s no surprise that the fullness of the human experience was on display. The real experience for me, however, was the incredible people I met in between presentations. I was happy to learn many are humble nostriches here among us. Indeed, I believe I may have some new life-long friends. In this space, people often over emphasize sovereignty as a form of radically independent self-sufficiency but that is _not_ the way. We need each other. The stranger sitting next to you at the bar or public lunch table or on a plane may just be hoping for you to say hello, look them in the eyes, and make them feel seen. It may just be the first honest human interaction they’ve had in months. Sovereignty comes through strength, and strength through companionship and productive collaboration. Say hello dammit! Pro tip: most Salvadorans and people frequenting El Salvador use Whatsapp to communicate. So, even if it grosses you out to use a Meta product, hold your breath and download it, the tradeoff will be worth it. I was very fortunate to meet a number of Salvadorans who are helping build a future for themselves and their Countrymen. They aren’t fleeing their Country for opportunities abroad, they are leaning in and embracing the moment’s opportunity. As a lawyer, I paid special attention to the incredible legal professionals I met and the work they are doing to embrace a Bitcoin standard and to build products and services for emigration, domestication of bitcoin treasury-based businesses, and real estate, etc. The future is bright for El Salvador, but sometimes when we say “we’re so early” it’s not just an expectation for the future, but a reflection on the difficulties that face many _today_. Poverty has declined from a rate of over 40% in 2016 but, as of 2023, nearly a quarter of Salvadorans are living in severe poverty conditions. When you travel through San Salvador you can see the progress being made—there’s an enormous FOREVER 21 store along the main Route 1 in downtown San Salvador and of course McDonalds, KFC, and Pizza Hut everywhere, for better or for worse. However, between the pockets of internationally deposited trademarks and branded commercial buildings are hectares of shantytowns and slums stitched together with tires, corrugated steel and rough wood. Along the roads in the rural areas, there are fruit, egg, and papusa stands about every 20 yards that are typically nothing more than a mobile heating element and a roof of corrugated steel supported by hewn tree branches and rope. Don’t try to spend your bitcoin here, pay them in cash. A note on money/transport. While BTC is an official currency, bitcoin adoption is nascent at best. People remain skeptical of it in large part due to the historical trauma associated with adopting USD after the civil war and the unusual circumstances surrounding the introduction of the national bitcoin wallet called Chivo. I’ll let you look that up for yourself and come to your own conclusions. In any case, bring cash, spend your cash, and support the locals when you can. The food is delicious. Moreover, UBER works, but if I have to recommend that, when possible, use https://bitdriver.taxi/ The owner, is a true orange-pilled entrepreneur and the customer service is unmatched. Pro tip: before coming to El Salvador buy your mobile carrier’s international data plan as WI-FI is unreliable. T-Mobile data worked for me almost everywhere I went. El Zonte. On my last full day I went to the coast. El Zonte is a miracle. A robust community of bitcoin-accepting hotels and businesses. It’s a burgeoning circular economy and the locals are enjoying the fruits of an international community of bitcoiners that want to spend sats, value-for-value. Nonetheless, bring cash. I wish I could have spent more time here as well as nearby El Tunco. The coast will likely be the focus of my next trip. This post has gotten too long, but suffice it to say, go to El Salvador, meet the people, support their efforts to build a better future by spending your money. //TLDR for @SatsMcd : Go the Fuck to El Salvador, buy an international data plan, use https://bitdriver.taxi/ , download whatsapp, talk to people, spend your money, see the sunset at Beto’s in La Libertad. #fixthemoneyfixtheworld #valueforvalue #v4v #elzonte #elsalvador #adoptingbitcoin #gfy