News From The El Salvador Experiment, Mid July: More ATMs and CNN

This week was low on high-profile people news but high in community building and hard work. Everyone seems to be waiting to see where the chips fall before making any decisions. Except for the people of El Zonte, they can’t stop and won’t stop building. As the big September date approaches, we’ll see where everyone […]
Eduardo Próspero
Posted by Eduardo Próspero July 10, 2021 4 Mins Read
This week was low on high-profile people news but high in community building and hard work. Everyone seems to be waiting to see where the chips fall before making any decisions. Except for the people of El Zonte, they can’t stop and won’t stop building. As the big September date approaches, we’ll see where everyone […]

This week was low on high-profile people news but high in community building and hard work. Everyone seems to be waiting to see where the chips fall before making any decisions. Except for the people of El Zonte, they can’t stop and won’t stop building. As the big September date approaches, we’ll see where everyone in the world lands in relation to the El Salvador experiment. 

Related Reading | Visit El Salvador’s Bitcoin Beach Through VICE’s Mini-Documentary

For now, we have new Bitcoin companies signing deals and moving to El Salvador. Also, a community effort to send sats to a random El Zonte vendor. Plus, beautiful pictures from a humble town that is the protagonist of what could be one of the most important experiments in human history.

The Media Is Cautiously Approaching The Situation

  • The CNN juggernaut interviewed Dante Mossi from the Central American Bank for Economic Integration, who seems to be playing the intermediary between El Salvador’s government and the US Department of Treasury. Crucial steps for the El Salvador experiment. 

It’s so funny when Julia Chatterley asks Mossi, “Do they understand that there may be better options?” Better options than the greatest form of currency ever created, Miss Chatterley? You definitely need to join the Bitcoinist Book Club to update your software. 

New Businesses Join The El Salvador Experiment

  • The head of the Technological & Economic International Affairs for El Salvador, Mónica Taher, announced the arrival of Kuva. They’re from Zimbabwe, make the Kuvacash wallet, and operate as a cryptocurrencies exchange. They brought a $10M investment with them. 

  • The El Salvador experiment advances fast. Mónica Taher also shows us the prototype from the “Made In El Salvador” ChainBytes Bitcoin ATMs.

  • Over at Bitcoin Beach, the folks from Athena made the pilgrimage and are visiting the holy land. The original Bitcoin ATM at El Zonte is an Athena machine.

El Zonte Heads The El Salvador Experiment

  • Back to the important people, Bitcoin Magazine brings us the feel-good story of the week. Meet Adrian:

  • Roman Martínez shows us how their community outreach program taught the Bitcoin basics to a new nearby town.  The El Salvador experiment grows and grows.

  • Accompanying Martínez was no-less than Bitcoin Magazine’s Aaron van Wirdum, who shows us even more pictures from Playa Conchalio:

  • Van Wirdum also has a thread of candid pictures about life in El Zonte. Life seems so placid, for a community that’s in the eye of the storm and on the cutting edge of modern economics.

BTCUSD price chart for 07/10/2021 - TradingView

BTC price chart for 07/10/2021 on Bittrex | Source: BTC/USD on TradingView.com

Story of the week: The #iceshaverchallenge

  • One thing lead to another, and this picture of an El Zonte vendor that contains a QR code sparked off a miracle. Hundreds of people from around the world sent sats to Mario, and had their first experience with the Lightning Network at the same time.

Every time you hear a fiat-subsidized economist like Steve Hanke trying to convince you that “there may be better options” for sending remittances in the traditional economy, show them this. The Lightning Network fees reported from all over the world are ridiculously low.

Related Reading | Major Media Wants In: CNN and Fox Are Entering NFTs

So far, there is no news from Mario himself. We still don’t know how he reacted to the donations. However, one of the challenge’s organizers wrapped it all with a bow with this tweet.

Just another week in the El Salvador experiment.

Featured Image by Gerson Rodriguez from Pixabay - Charts by TradingView
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