On this YouTube channel I share my family's journey to create more freedom in our lives. Please subscribe if you want to follow our adventure as we travel to El Salvador and find out if this is indeed a great place for us to live!
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Track: Fungible — Hiracutch [Audio Library Release]
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DESCRIPTION
On our way to El Salvador from Europe, we grasped the opportunity to spend 6 months in Puerto Escondido, in Mexico.
For many years, Puerto Escondido had been a small and relatively quiet city, popular among surfers and digital nomads alike. Since a few years though, Puerto Escondido has seen a notable increase in expats and families looking to build a life someplace more free.
Puerto Escondido's multitude of beaches and stable tropical climate offer something for everyone. We've had an amazing 6 months in this little city on the Pacific coast.
In this video, I discuss what makes Puerto Escondido so attractive and wbat challenges arose while staying there.
Before June 2021, I could not point out El Salvador on a map, nor had I ever heard of Nayib Bukele, the country’s current president. So what happened to make me decide to give up almost everything in my life and go to a country I’d never heard about?
Well, at the end of the Bitcoin 2021 conference in Miami, Jack Mallers, founder and CEO of the Bitcoin payment company Strike, came onto the stage to make a special announcement. Mallers told the audience how spent a few months in El Salvador to roll out his product, helping Salvadorans keep more of their hard-earned money. He then uncovered that he’d been asked by Nayib Bukele, the El Salvadoran president, to advise on a law to make Bitcoin legal tender in El Salvador.
The government has launched Chivo Wallet, a Bitcoin wallet that works in conjunction with the Chivo ATMs scattered around the country. Salvadorans can now exchange Bitcoin for dollars and back. Salvadorans working abroad can also send remittance payments back home instantly and almost for free.
Bukele has announced Bitcoin City, a project to build a city in a special economic zone in the south of El Salvador. To attract foreign investments, the only tax people living in Bitcoin City will pay is a value added tax at 10%. The city is planned to be powered by geothermal energy from a nearby volcano.
Second, the country is going to offer Bitcoin Bonds, a true financial revolution in the way countries can potentially finance their development. The Bitcoin bonds are designed and launched together with Bitfinex and Blockstream, two major companies in the Bitcoin space.