1126 sats \ 11 replies \ @jonatack OP 25 Nov 2022 \ on: Jon Atack AMA bitcoin
FWIW I'm currently in El Salvador, if anyone has questions about that.
El Salvador!? Pretty cool! Are you there temporarily or maybe planing for residence...?
Country with Bitcoin as legal tender is very tempting...
How affordable longger-term rent there, if some expat would want to stay there for longer period (such as maximum allowed without residence)?
Any clues how beef, mutton are available/expensive?
Is it hard to speak with locals in English? Maybe you know some Spanish?
Thanks!
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I've been in El Salvador for a month now. I don't know how long I will stay but for now am thinking to do a few months more (while the northern hemisphere is going through winter with high energy prices).
I've still used only bitcoin, or dollars in cash from two withdrawals so far at a bitcoin ATM (using bitcoin and not a fiat bank account) for roughly a 1% conversion commission.
Long-term rent is very affordable. There is a very wide price range depending on location and the comfort level you want, but you can live very inexpensively in ES.
Meat is very reasonable. Where I am, there is a local Bitcoiners BBQ group that cooks barbequed meat (mostly steak but sometimes pork ribs or rabbit too, etc.) for an informal dinner together several times a week.
Some-to-many locals speak some English but not all and it varies widely. I started learning Spanish a month ago and spend an hour a day on it.
One regret has been how many North Americans are here as tourists, and who don't like Bitcoin and what they describe as its nerd/incel culture. Many of these come larping as surfers and seeking surfers to learn from or party with. Bitcoin has a long road ahead for acceptance or even interest from these type of North Americans.
Overall, it's been a great experience and to my eyes the country is a very viable place to move to. I am not sure I'll be happy using a fiat bank account again. It will be interesting.
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am thinking to do a few months more
There's limit on how much you can stay, right..?
I've still used only bitcoin, or dollars in cash from two withdrawals so far at a bitcoin ATM
Should be amazing, liberating feeling. Envy!
I started learning Spanish a month ago and spend an hour a day on it.
Do you use some Youtube course, paid online course, maybe local instructor?
Thanks!
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From what I've heard, the fine for overstaying is so low ($25 to $50) that it's not worth bothering extending the 90-day tourist visa. But an extension can be done.
For learning Spanish, I've just been doing duolingo and of course daily use, always attempting to speak and understand in Spanish (I pick up languages somewhat quickly and speak fluent French, which is similar to Spanish), though there are also local teachers for doing one-on-one and surely some classes.
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has the level of bitcoin adoption in el salvador exceeded, met, or fallen short of your expectations?
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With the bear market, it looks like acceptance of bitcoin by merchants has dropped off (despite this arguably IMHO being the best time to accept bitcoin). In El Zonte (Bitcoin Beach), acceptance is relatively high but lower than, say, a year ago. Once you leave that village, however, acceptance of bitcoin appears to have become rare. To that extent, it is a little disappointing. Also, merchants say that their employees don't want to be paid in bitcoin because people need to spend their pay right away and don't have the ability to save and invest.
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I've mostly used only bitcoin here (and I plan to stay for a while). When I need dollars, however, I've used the ATMs here to convert bitcoin directly to USD cash for a 1-2% charge IIRC, which is still handy.
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interesting, so this sounds more like a perception problem than a technical one.
when you’ve chosen to pay with bitcoin outside of el zonte, what are the odds that the payment is successful on the first try? (i.e. the merchant knows what bitcoin is, has a lightning pos ready to go, and the payment confirms right away)
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I agree that education is key here. To that end, the community work being done by the Bitcoin Beach Hope House is incredible. Lessons in bitcoin, leadership, English/Spanish, computers, surf/swim/bodyboard competitions with real community festivities. I have a lot of respect for their work.
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It's always been easy and fast. The merchants seem to almost all use either Chivo or the Galoy Bitcoin Beach wallet as far as I've seen. I've been using Muun as a simple hot wallet. It's what I use to onboard new bitcoiners with, FWIW.
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I'd also like to point out how incredibly safe I've felt in El Salvador so far: in El Zonte, in San Salvador, in El Tunco, in La Libertad, and in the mountains in Chiltiupian where I stayed and have been travelling around with a motorcycle. The usual caveats of privilege or naivete apply, but I've felt far more safe than in the US or many other countries. At Bitcoin Beach in El Zonte, which granted is an unusual area, it seems reasonable to leave the door unlocked where you are staying (say, in a shared house) and there are more local-style places some people stay at that don't have a door or any walls. One even hears about a bitcoiner who basically slept for a good while, for free, outside in a hammock near a volcano :). I haven't seen any petty crime yet, while being a fair number of times in a situation where one could take advantage of me, yet I've only experienced friendliness and kindness so far. I know a few young women who have been traveling solo all around the country without issues or being hassled. Maybe this is only a honeymoon phase, but it's impressive.
From what I've heard, this safety may have been a recent result of the mass arrests of the gangs -- I write this naively, as it's hearsay from locals. Most Salvadorians I've talked to are in favor and very happy with the change, though not all, as some of the people arrested were apparently innocent (locals speak of 10% arrested being innocent, some may have only been guilty of having a tattoo or being in the wrong place or with the wrong people at the wrong time, etc.), which may not be surprising given the way the arrests may have happened. Again, it's only what I hear from local people -- I don't know firsthand.
In the city (San Salvador), one sees private security men with guns protecting the businesses, and locals say they were necessary, at least until recently. I haven't noticed security like this in, say, El Zonte.
In any case, all the places I saw so far this past month, on foot or by motorcycle, seemed safe or very safe.
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