In this compelling episode of Halving Report, host Brad Mines brings an extraordinary conversation from the midst of a jungle rave in El Salvador. This episode stands out for its raw, authentic engagement with a local Salvadoran who, despite facing language barriers, shares insightful perspectives on Bitcoin's role in their life and community. Brad, along with Jonah the Ledger Jedi and Quincy Crypto, navigates this cross-cultural dialogue, shedding light on the global impact of Bitcoin.
⏰ Episode Timestamps: Navigating Bitcoin's Impact in El Salvador 🇸🇻
0:00 - 🌴 Introduction at the Jungle Rave 0:05 - 💬 Money's Role and Bitcoin's Potential 1:05 - 🌍 World Reserve Currencies and the US Dollar 1:33 - 💸 Bitcoin: Currency of the People 2:07 - 💵 Fiat Currency, Inflation, and Bitcoin's Role 3:06 - 🌐 Bitcoin's Identity and Future Outlook 4:02 - 💪 Bitcoin as the New Main System 4:51 - 🤲 Philosophy and Services in Bitcoin 5:30 - 🔄 El Salvador's Shift from Colon to US Dollar 6:06 - 📉 Economic Breakdown and the Rise of Bitcoin 7:25 - 🍊 Successful Orange Pill: Bitcoin Empowerment in El Salvador
This episode is a testament to the universal language of Bitcoin and its ability to connect people across different cultures and backgrounds. Through a mix of broken English and profound insights, the Salvadoran guest, along with Brad Mines, Jonah the Ledger Jedi, and Quincy Crypto, delve into the nuances of Bitcoin adoption in a country at the forefront of cryptocurrency integration.
Connect with Jonah (@LedgerJedi):
Discover Jonah's Bitcoin journey and drone captures in El Salvador. Follow him for insights and aerial views:
What happens when they put the money? Oh yeah, yeah, yeah yeah.
Speaker 2:
Money, and it's not a beauty. But the relation with the money, the relation with the season is that you know we have complete one pay. Complete one pay, I mean the pay that One pay one way to pay yeah, yeah, yeah. But if you know in your mind you are not only dollars to me, I mean, you are a you have the option. Yeah, but you are a much superior. I mean, you only have a human bro, you are a system. But if you don't know how to help the system, wait To grow. Yeah, yeah.
Speaker 1:
You are saying how is Bitcoin going to get in some of the poor areas in El Salvador?
Speaker 2:
Bitcoin is only a system that you know in this era, right, but?
Speaker 3:
next, so previously. The US dollar has been the world reserve currency for about a hundred years.
Speaker 2:
The US dollar.
Speaker 3:
Yes, one year it's broken. Yes, I agree. I agree, it's been a steady decline down. So what I'm saying, though, is the world reserve currency status has only last usually about a hundred years. So we had the British, we had the Spanish, we had the US dollar, and now they all eventually break, but the Bitcoin is a system where they are taking the politics.
Speaker 1:
But it is money for the people, yeah, by the people, for the people, yeah, yeah, yeah, I know, I know Not the government no, government no, but the bank is equal to the system.
Speaker 2:
Yes.
Speaker 3:
Yeah, you know, the bank is bad, the people.
Speaker 2:
But the system is all that you know.
Speaker 1:
To the system, right, if you don't know how the system you're born into is the only one you know is what you're trying to say. Yeah, yeah.
Speaker 2:
Not complete. Okay, if you don't know the system, you know how you do. You are.
Speaker 3:
Yeah, because without a world without Bitcoin, lots of people don't know old banking systems. They don't know old banks, so they just use money. They just use users of money. Right, and just the same thing. With Bitcoin is the main currency, people will still just be users. They're not going to be experts in money. Some people will never be experts in money and they live their 30-day life. But the poorest people in society save their money in dollars. Dollars, because of high inflation, keeps going down in value. So the bottom people have the worst situation. Yup, because they're saving in fiat dollars, fiat currency issued by the government. With Bitcoin, you are more incentivized to keep saving your money and not spend your money With dollars. You better spend it quick because the government, like you said, in the past year, has ruined the currency.
Speaker 2:
Does that make sense? No, no, no, no, remember. One day you're gonna have the question to who is Bitcoin. You know who is Bitcoin, I am Bitcoin.
Speaker 1:
Why is that? He is Bitcoin. We are all Bitcoin. We are Bitcoin yeah exactly, exactly. You are Bitcoin.
Speaker 2:
Yeah, yeah, yeah. Ambition is the bad Satoshi, not the most when you when you know who is Bitcoin, you know the system, you know too much high. You will probably it's shit, but you know you don't know how, but you it's shit. Don't. Don't say me how, but the time may be telling. And I know, and I know, maybe in 10 years, or okay, 20, 23 years, you know, yeah, 23 years. You know the Bitcoin is not economy. You know it's a system, that you are the system. You need the big chip.
Speaker 3:
Yeah, yeah, it will be the new main system, the new main system, which is a lot superior than the old system. Next, probably, will be hundreds, hundreds of years, maybe thousands of years away. This is the hardest money since, harder money than gold. It's the hardest money in the world. When you base, when you look at the history of all currencies and you rate them on all the different properties that make currency valuable, bitcoin kicks their asses. It's more portable, it's more durable, that you can transfer it anywhere.
Speaker 3:
It's the first decentralized. So how can we help you? Help the people? How long for them? Help them start saving in Bitcoin. Our services, yeah, yeah, services, bitcoin people. We give our services for free because that is a philosophy. Like you?
Speaker 1:
said yeah, yeah, yeah, yeah.
Speaker 3:
It's a philosophy, so we help for free. I had a guy the other night who didn't want to hear about it. He's like you're sales pitching you. I'm like I'm not sales pitching you, I'm just filling the gaps in your knowledge. That's all I'm doing Secret. A lot of us are true seekers. As much as I don't like to use that term, they don't. I think there's a saying that says all paths lead to Bitcoin, and when you really learn how corrupt the old system is and you look at Bitcoin and when you understand Bitcoin, it's like it's the answer to this big, big problem that causes all the lowest people in society to keep getting poorer and it keeps helping all the other people get richer.
Speaker 1:
Exactly. Why did you guys have to switch from the Salvador? Was it a peso, salvador, peso? What did you have? Colon, colon, colon, colon. So why did you switch from the colon to the US dollar? Because the system, the system. Yeah, what happened with the system? They made them say we're gonna go from the colon to the US dollar. Maybe it's not. Did everything start getting real late spent? Why did you switch from the colon to the US dollar?
Speaker 2:
Because break economy.
Speaker 1:
yeah, it broke the economy. They broke the economy, so what happened was called inflation. So the way the economy works is the previous presidents in the banks. They printed money and they printed lots of it. What that does is it takes the value down. So then you guys saw that happen. All the prices are going up. You can't afford to live. Now you have to switch to the dollar. Here's the problem. The US government is doing the same thing that your government did before US government printing money. What happens when they print the money?
Speaker 2:
Yeah, yeah, yeah, they printed out a problem.
Speaker 1:
So what is the solution to the problem? Enter Bitcoin. That's the solution. How do we solve it? How do we help people with Bitcoin? We go. We go to the people who are more poor in El Salvador and we help them start businesses. We help them accept Bitcoin. So, when rich people that are already here and more are coming, they will go to the poor people of El Salvador and they will spend the Bitcoin. And the Bitcoin is not gonna go down in value, it's gonna go up. My man, you get it, yeah yeah. So we've got a successful orange pill right here.
Speaker 3:
Yeah, let's call it orange pill, Alejandro. Bitcoin to the move.