Bitcoin Lake, Atitlan
Bitcoin Lake Lago Atitlán | |
|---|---|
Region | |
 | |
| Country |  Guatemala |
| Department | Solola |
Bitcoin Lake is a social project in Lake Atitlán. The lake itself is a popular tourist destination and often described as one of the most beautiful lakes in the world, according to locals. It’s been among the first regions in the country to accept bitcoin as a medium of payment.
Name and history
Inspired by Bitcoin Beach, El Salvador the objective of the project is to establish bitcoin as the preferred medium of payment and store of value in the Lake Atitlán basin. It aims to recreate what was achieved in El Zonte, and create a circular economy where every transaction is done through the Bitcoin Lightning Network. The objective is to enable the unbanked people of the lake (which constitute the majority of the region's communities) to have access to strong, sound money that can't be debased via money printing, and access to a global network of value that's always freely accessible and uninterruptedly operating.
The project, or at least the basic notion of recreating Bitcoin Beach in the lake, was started on May 20th, 2021 by bitcoin enthusiast Rishi Bond, a Guatemalan living on the lake. Then-bitcoin-celebrity Peter McCormack went to visit the lake, and a small event was organized to show him the origins of it all: a telegram-based grassroots community called "Cryptoatitlán" (with 450 members) originally started by the founder and friends. Since then it had grown to encompass dozens of businesses, families, and communities all across the lake, using bitcoin as payment and SoV, with the final objective of eventually being able to fund social programs for hundreds all across the lake exclusively through bitcoin.
Outreach
A hands-on approach is taken when introducing bitcoin to the people. These are not heavily technical introductions, but rather useful and practical knowledge for day-to-day transactions (what's really useful to the people of the lake). How to download a wallet, back up a wallet, keep a wallet safe, send a bitcoin transaction, receive a bitcoin transaction, convert from and into the local fiat currency, volatility, etc.
External links
Related to Bitcoin Lake's origins
Interview on Bitcoin Lake's origins -- In Spanish
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