The Darkside of Bitcoin in El Salvador (Full Documentary)

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Description:

There's no doubt that El Salvador's move to make Bitcoin a legal tender is historic. Many Bitcoiners like myself are enthusiastically quick to point out the positives of the mandate. But are there any consequences we've missed? Is there a darker side to Bitcoin in El Salvador?

My Coverage in El Salvador has been featured on Time Magazine, CGTN, Elsalvador.com, La Diaria de Hoy, Ultima Hora, Coingeek, Crypto News, La Republica, News.ru, Bitcoin.com, Focos TV, El Blog, Voces, MSN, Hacker News, and more.

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📘 Chapters:
0:00 Intro
1:56 Nayib Bukele
8:09 Arriving
9:50 Article 7
11:04 Arrested
13:25 GM
15:26 1st Protest
18:34 Chivo
26:11 $5 Minimum
27:16 Going Viral
28:40 Lightning at Starbucks
30:00 Chivo Fails
33:49 Bitcoin Influencers
36:06 Twitter
37:57 Saving Bitcoin
39:11 Exposing Misinformers
45:29 Recap
46:30 Suchitoto
49:20 Frustration with Chivo
51:00 Recognized
52:37 News
55:42 Interview
1:01:51 Crypto Fraud
1:05:47 Is this Bitcoin?
1:07:17 Media
1:11:27 Chivo ATM
1:13:37 The Problems
1:16:26 Article 7
1:17:47 Free Talk Live
1:20:49 2nd Protest
1:22:08 Things Get Bad
1:25:18 Los Angeles
1:25:49 Reflecting
1:30:39 Ending
1:31:14 Thank You

🍿 The Documentary:
This documentary follows my journey to El Salvador to observe the Bitcoin mandate going into effect. With so much conflicting information online, it was important for me to experience myself and see what's really going on. Here are a few initial facts to point out, to clear up any questions you might have:

1. Is Bitcoin actually required in El Salvador? I've heard it's optional.
Article 7 of the Bitcoin law requires, by mandate, all businesses are required to accept Bitcoin as a form of payment. Thus, Bitcoin is not optional.

2. But how is that different from US dollars in the United States?
The United States does not mandate any form of payment. Businesses in the US are free to accept (or not accept!) Yen, Peso, USD, or even Cryptocurrency. It is your freedom of choice to accept whatever currency you want or don't want.* This freedom is not afforded to citizens of El Salvador. 
* The only exception to this is debt.

3. Do you think overall Bitcoin in El Salvador will be a good thing?
Economically? Most likely yes. However I'm weary of freedoms being stripped away from individuals in exchange of a promise of a better financial future -- especially if there is no public oversight / independent committee / etc.

4. Is your goal of this documentary to make Bitcoin look bad?
In a way, my documentary has nothing to do with Bitcoin. There is nothing inherent or fundamental in terms of Bitcoin that my documentary is critical of. Choose any cryptocurrency, and the video would have likely been the exact same. I recommend that all who want my video invest in Bitcoin, as I believe it can lead to generational wealth and stop irresponsible inflationary fiat printing.

5. Why did you pull the burning ottoman out of the fire?
Because it felt like the right thing to do at the time. I'd still do it again. I don't care where I am, if I see an opportunity to do something which I believe to be morally right, I will act.

6. Were you worried you'd be attacked by doing that?
I was worried after that what I did could have been seen as a political act (which is was not), and felt like I should escape the country at that moment. As it turns out the official El Salvador government praised my action (though used it as an example of me condemning "violent" protestors.) In actually, there was a small group of about 5 bad actors working together wearing masks. I was not scared at all.

Any more questions, let me know in the comments and I'll add them here.

During my time there, I spoke with supporters and opposition of Bitcoin, used the Chivo app in depth through multiple uncut live streams, went to multiple Chivo ATMS, attended opposition rallys, and spoke with other influencers also there to document the change.

I intend to go back to El Salvador in the future and follow up with a second documentary. If you'd like to see that, please consider making a cryptocurrency donation here: http://falzon.fans/

📸 This Video was Shot with...
- Sony FX3
- Sony A7SIII
- DJI Mavic Mini 2
- Rode Wireless Go II

🎇 About my YouTube Channel.
My name's Marc Falzon and welcome to my Cryptocurrency channel with a focus on real world implementation, my personal life experiences, and travel stories.

YouTube url:	https://www.youtube.com/watch?v=XVAx57Ffxvg
Created:	28. 11. 2021 05:49:27

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The Darkside of Bitcoin in El Salvador (Full Documentary)