Not to be an alarmist, but my last two Bitcoin withdrawals from Robinhood to take my brokerage account to zero each failed first try after ~2 hours of waiting. Needed a second attempt in each instance to get the tx through. Maybe it’s nothing, but we all know in this space where there’s smoke it’s at least worth being guarded for the possibility of fire. Harkens back to the analogy of treating exchanges like public bathrooms - come in, do your business, and quickly make your way out.
Observations from trip to El Salvador this week…
Infrastructure: Drove newly built highways that are on par in quality to America’s, and access beautiful underdeveloped areas that will be legitimate tourist destinations within 10 years. Some of these projects are currently roads to nothing, but the “if you build it, they will come” spirit is definitely there.
Security: Never felt unsafe in two prior trips, but this trip the feeling of public safety was next level. I’d never seen someone out for a jog before in this country, maybe because most areas are an inferno, but also probably b/c security concerns. Runners out after dark all over San Miguel.
Commerce: New restaurants, shopping centers, and accommodations with modern form/function popping up everywhere. New homes also being built throughout the country.
Bitcoin: Nowhere to be found IRL. Zero presence whatsoever. Obvious why Bukele conceded forced currency acceptance in the IMF loan deal, really not giving away much there anyway. Still early. But also, what happened to Bitcoin City in La Union?
In 2021 I had a significant portion of my family’s stack seeking yield on Blockfi and Gemini Earn because I thought I was late and felt compelled to “catch up.” Was lucky to pull out when something simply didn’t feel right, and that experience of flying too close to the sun meaningfully shaped the Bitcoin maximalist I am today. Not your keys, not your coins
