[ExI] Fwd: Bitcoin el salvador?
Giulio Prisco
giulio at gmail.com
Sun Sep 5 10:55:38 UTC 2021
---------- Forwarded message ---------
From: Giulio Prisco from Turing Church <turingchurch at substack.com>
Date: Sun, Sep 5, 2021 at 12:50 PM
Subject: Bitcoin el salvador?
To: <giulio at gmail.com>
No Bitcoin won't Save The World, but perhaps it will make the world a bit
better.
Bitcoin el salvador?
<https://email.mg1.substack.com/c/eJxNkkFvozAQhX9NuBXZYGM4-NBNUokoCWlVNclekDEDcSEGgQmFX7-muaw09kjP72kkfyOFgbLpJt42vXGWKzVTC1zD2NdgDHTO0EOXqpxTFISMOTlHzJMsc1SfFh3AXaiaO-2Q1UoKoxq9eAlhOMLOjaOsoAUBloUoojminkRFHkUFkgSzzC-eI8WQK9ASODygmxoNTs1vxrT9yn9deW-2xnF0zdApXcrb0MmbK5u7lVt7MmVko_QL1C-9qB8ib7qV_2aaCvTK38C0w9L7mi5eXcXfDT5sruQ4yz7Wfx7S_yjE-V0l3-9j8hnjZCN_9utde70s2tY7zK_kMFfjcWP993qWUxzYHL4qhKz2k3xulfXP-TlWidqNmX9E-8uuvp6PSJyjIdbI3R7W2ZYqtqcPvIOvoKiSjzmYzn9JeUKn62kt9lCh8WdgoaO4hzyMIkQxoogELnZ9JhgRAZYQRIJSCLycYJKJAIrQg4KtCLqX2O2HrDdCVsu3OB0v1VCrxr6VC51f0QJKbb8PWpkpBS2yGnJuugEc84T_SzItQUNnlyJPheE48FHoR4gwSsInqgUuijwaMuzYqXljU5r_j-Yf-FjHOQ>No
Bitcoin won't Save The World, but perhaps it will make the world a bit
better.
<https://email.mg1.substack.com/c/eJxNUMuOhSAM_ZrL7hpAHrpgMZv5DYNQlYwC4THGvx-8biZp2qav03OMLrCGdKkYckG3m8oVQXk48w6lQEI1Q5qcVRyLQUpkFZbUyBm5PC0J4NBuVyjWeXdGFxf8PcuYJCNBm-qpMCMhi53lLIeRi97SvjmxWCysIA-krtaBN6DgF9IVPKBdbaXE_Oq_XvS72XmeXanJ-dVsNZmtM-Fo5Qgh7tCS57n36uruwjsml01ATlFMCR4xJ5hjJjrS9VJLpgUxIEbNOQhqGWGzFrAMFBb5YvhYSZfrnIs2PzcMSuo523rrzfZTbISnFo_qXbkm8HrewaqSKqDyiPlRZlrBQ2oi20kXRUSPh37ETHI2PNRvsfBI-SAJaqg2tC2v_lP9A_ydi-4>
Giulio Prisco
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Sep 5
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<https://email.mg1.substack.com/c/eJxVUsuunDAM_ZrJDuS8CCyyuKrU30B5GCa9kNAk3Nvp1zcMq0qR7fh1LB87U3FN-aWPVCq5xFxfB-qI32XDWjGTs2Ceg9cShlEp4jUo5pQlocxLRtxN2DQ5TrsFZ2pI8coVQtGJkqfmCCAVF2gnzh33C0OY2GKc5w4XS29Ic_qA0aHGL8yvFJFs-lnrUR7848F-tud87MtpSzXus3dpb66wmxWbXrC656Vbm5oe7Mfv2-Afa0q-_ZdtPnJaM5YSvrD5S0U8WsUNweQFIi-YJuzpPrHFc4cgrXWj6KwxvBNcYTdJOnbGW84sKjWNoi-8N7v5m6L5Lvdcrce9jLf5HrK8zXFglFGqOsfV1ImBT53lnHYcBAijUHrqZwYAf6gE6H8duJKgGTAKE0gKEsTQ054ro4QZqMNhMlLiwLygwpoBl5Hhoh4C9pX-tyyS9RrOLaQWWy--3s425dz0fsZQXzNGYzf0uuYTSb3P4c3tvGLE3M7Ez6ZqOnAY-QRCSTHe5F10N07lqChpqD61qqjrmUNc3fPM7vkPMwjFmg>
I was a very early adopter of Bitcoin. I started weeks after Satoshi’s
whitepaper magically appeared in a cryptography mailing list.
If I still had the BTC that I mined at the time I would be very rich today,
but I wanted to use and spend my BTC to stimulate the nascent Bitcoin
economy. I have written Bitcoin software, consulted and participated in
many projects. For years I made a good living as a journalist and editor
for the Bitcoin trade press.
Been there, done that. At some point I lost interest and stopped. What
pushed me out was the attitude of those for whom Bitcoin was the most
important things in the world. Or maybe the only important thing. Or maybe
the God of their religion.
I have edited (out) suggestions that wars and natural or social
catastrophes were “good for Bitcoin” and therefore Good. Good! With an
exclamation mark of course. Many exclamation marks.
I really wish for less exclamation marks and more question marks in the
Bitcoin press. At some point I was really fed up. In fact, this is the
first post about Bitcoin that I have written in years.
No, Bitcoin is NOT the most important thing in the world. Sorry for the
true believers in the Bitcoin God out there, but many things are much more
important than Bitcoin. MUCH more important.
Having said that, I think Bitcoin IS important. Not the most important
thing, but an important thing. Bitcoin is also a good example of how
radical, unexpected technological innovation can be a social force for
good. A parallel economy relatively independent of Big Government and Big
Business, with working interfaces to the mainstream economy, can do good to
many people.
And this is the role of Bitcoin in my religion: one of many tools that we
can use to make the world a bit better. And we can use all our tools
together to make the world much better, a little bit a time.
El Salvador
I used to say that Bitcoin would really take off after being adopted by a
nation state (even a small one) as official currency. Not a new
cryptocurrency issued by a central bank (like China is doing), but the real
Bitcoin independent of nations and central banks.
This is what is expected to happen in El Salvador in a few days. There are
dissenting voices and event protests of course
<https://email.mg1.substack.com/c/eJwlUEtuhTAMPM3LrigJ-cAii256DZSPgaiQoOAUcfuG9yTLlse2xjPeIiy53ObIJ5InTXgfYBJc5waIUEg9oUwxGEnVoDUJhmrutSPxnOYCsNu4GXJUt0VvMeb07Aqh2cjIapxzwTkagpt7zxVnDeBWwiik50GGD6WtIULyYOAPyp0TkM2siMf56r9f_KfFdV2dc77zeW_d810rCH5NecvL_SUH0Q-SSxINp5zRkUpGJRWqY12vrRZWMQ9qtFKC4kEw4ayCeeAw65eg-8K6s7oTrf99OEgxS6xbzG22PArfYBM5tbrXFPGeIFm3QTBYKhD8GPh2Y1ogQWnGhsmiYaqnQz9SoaUYPnIfg-jI5aAZaawht6tksJaYFr_W4td_JkaIHw>,
so we’ll have to wait and see what happens. But this could be a real game
changer.
Poor families in El Salvador could live with Bitcoin remittances sent from
family members abroad. This happens already of course, but will be much
easier and safer when Bitcoin is officially supported by the government.
I took the cover picture at a place that accepts Bitcoin in a food market.
These places exist everywhere, but only tech-savvy people can buy there. If
the Bitcoin plan in El Salvador goes through as planned, eventually
everyone will be able to use Bitcoin to buy food and things.
El Salvador could become a player and a first mover in the new economy
that, one way or another, is bound to emerge. It’s evident that things
can’t continue as they are now. We need to experiment with many alternative
economies. Many will fail the real-world test, but some will work. The move
of El Salvador could enable and protect many new business models that are
only waiting for something like this to happen. This would attract wealthy
foreign investors to the country.
I’ll hopefully wait and see is Bitcoin will become el salvador (the savior)
of El Salvador, and then of other nations as well.
------------------------------
Cover picture by the author.
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