In 2021, something crazy happened. Something known more for being “Magic Internet Money” and slandered as a technology used by “shady internet hackers” had broken through a seemingly impossible barrier. An entire country, led by its own president, had adopted Bitcoin as its official currency. Nayib Bukele had thrust El Salvador onto the global stage by planting the Bitcoin flag. This captivated me for what it could mean for the future of the world, yes, but also for what it could mean for my future as a possible resident of this small but beautiful Central American country.
So, why would someone from the “greatest country on earth”, America, want to move to somewhere like El Salvador? Well, for one, the greatness of America is certainly exaggerated. Whether you’re talking about the overreaching government (in the form of increased surveillance, taxation, an inflating currency and covid lock downs), an increasingly high cost of living (especially in housing and energy) or a banking system that is increasingly exclusionary and willing to censor every day citizens; there are many negatives to what was once considered the most free country in the world. I’d be lying if I said I hadn’t already been considering leaving the country before El Salvador took its bold Bitcoin stance.
Of course, as I write this article, I’m still weighing the choices and haven’t bitten that proverbial bullet just yet. The positives of taking the El Salvador plunge are certainly great. Cost of living is at the top of the list as its roughly 104% more expensive to live in the US than El Salvador (when including rent), which means the dollars and Bitcoin I already own would go a lot further. There is also the fact that El Salvador is a beautiful country with a lot of nature packed into its compact frame. I can see it being a grounded and low stress place to raise a family, which is becoming very important to me as my first child is on the way.
There are of course also the Bitcoin specific positives. As a Bitcoin Maximalist, the idea of being able to use Bitcoin for most if not all of my every day transactions excites me. Most of my wealth is already stored in the Internet native money, so knowing that I wouldn’t have to convert it to dirty fiat and could pay people for goods and services directly in the world’s most free money is a huge incentive for me. I’d also love to be able to share my knowledge and Bitcoin know how with the people of El Salvador as they embark on this amazing mission of being the worlds first Bitcoin country. Less financially wealthy countries like El Salvador see the importance of Bitcoin much more readily than the 1st world countries of the West and I’d love to be able to share my Bitcoin knowledge with people that see, just as I do, how important Bitcoin really is for the world.
So as I sit here at my apartment in the US, looking to move into a new home with my partner and first child on the way, I can’t help but think that maybe I should be looking at homes in El Salvador instead.
- Why moving to El Salvador is such an exciting possibility - August 31, 2021