Follow The Money #1 - Bitcoin in El Salvador

Follow The Money #1 is brought to you by our film sponsor NYDIG (nydig.com/).
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El Salvador could be the catalyst for the most audacious economic experiment since Bretton Woods. On September 7th 2021, they became the first country in the world to make the nascent digital currency, Bitcoin, legal tender. If other countries follow, it could lead to a new international monetary system. How did this come to pass? And what does it mean for Salvadorians?
A beach and a palace bookend Bitcoin's story in El Salvador, and my film starts in the coastal resort of El Zonte, aka Bitcoin Beach, where I visit Michael Peterson, a US charity worker who developed this unique Bitcoin community. Most Salvadorians in El Zonte are unbanked, yet, with Bitcoin Beach, they were introduced to this new financial system.
I also sit with the President of El Salvador, Nayib Bukele, who, inspired by El Zonte, saw a chance to reset his country's fortunes. He took the unprecedented step to align his country's future with Bitcoin, taking on powerful interests at home and abroad.
The El Salvadorian people lie between these two men, ravaged by civil war, gang violence, and political corruption. Bukele has a bold vision for a new future, but his changes have bred distrust in some and hope in others. I travel to meet those protesting against Bitcoin and those who believe it can be a force for good.
On the day I published this video, El Salvador hosted 44 other emerging nations at a financial inclusion conference. What started as a small project in El Zonte may lead to Bitcoin becoming the standard for other countries worldwide.
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Thanks to my sponsor NYDIG who financed this film. NYDIG is building an inclusive financial system that makes Bitcoin a universal option for billions of people worldwide. Bitcoin is a resource for human progress, and NYDIG is the gateway.
nydig.com/
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THE TEAM:
→ Director: Neil Berkley
→ Producer: Peter McCormack
→ Director of Photography: Curt Taylor
→ Additional Camera: Neil Berkley
→ Editing: Adam Miller
→ Colour Grade: Curt Taylor
→ Sound Mix: Isai Espinoza
→ Associate Producer: Danny Knowles
→ Production Assistant: Emma Firman
→ Archive Research: Zachariah Daly
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WHERE TO FOLLOW ME:
→ Twitter: / whatbitcoindid
→ Substack: petermccormack.substack.com/
→ Instagram: / whatbitcoindid
→ TikTok: / whatbitcoindid
→ Facebook: / whatbitcoindid
→ KZbin: / whatbitcoindidpodcast
→ Website: www.whatbitcoindid.com/
WHERE TO FIND THE SHOW:
→ Website: www.whatbitcoindid.com/podcast/
→ iTunes: apple.co/2OOlzVV
→ Spotify: spoti.fi/2ygc4W1
→ Stitcher: bit.ly/2IQO8fX
→ SoundCloud: bit.ly/2CGSVQR
→ KZbin: bit.ly/3nyi9Ez
→ TuneIn: bit.ly/2ywystr
#bitcoin #finance #economics #elsalvador

[@michellesmith1171]

This should be an annual episodic movie: How is bitcoin doing year over year?

[@ryanbaileyboxing]

Yes

[@crittenb7]

All love here. Peter wearing the mask 12:00 min in, should also be an annual review. We all could've done better.

[@jcwanako]

Hi Peter I really really hope you read this comment We, Salvadoreños, appreciate everything that Bukele is doing for our country. This is the first time in history we stand up for ourselves and are craving for real transformation (not just change) Bukele and his administration has given 97% of the population hope. The opposition will do everything in their power to negate and dismiss everything Bukele is doing. El Salvador is not an easy project for Bitcoin or any other initiatives- but we have to bear that pain and move forward Bukeke is seen as an authoritative president by the 3% because he is removing 40 ++ years of corruption

[@MikeStillUK]

Great film Peter. History in the making. You are telling an important story!! 👏🏼🧡👏🏼🧡

[@blackboxmedia4953]

" If i had asked the people what they wanted, they would have said a faster horse " - Henry Ford on the creation of the Model T

[@elfriederich]

On point!

[@toolegit2quit173]

Bingo. True innovators solve problems that people don’t even realize they have. Just look at the iPhone. No one in 2005 thought they needed such a thing, and now fast forward almost 20yrs and no one can live without it!

[@ttbb2909]

Bukele is doing good for his country whether you like it or not.

[@robertcastles22]

I know it's popular to be very negative these days but I would love to see the president of El Salvador succeed and surprise the world with this effort.

[@1rjona]

My country faced the same problems as El Salvador. We have poverty, corruption, drugs, gangs. We also had a popular president who tried to tackle all that. He was popular with the people but many in power inside and out the country wanted him removed. Difference is that our president was old and could not run again. He made some changes for the good but some wanted to reverse all that. The people choose someone like him to continue his work. Hope Bukele can continue doing good for El Salvador but it is the people who must the good works he started

[@Maxi86inAction]

What is your country?

[@1rjona]

@@Maxi86inAction Philippines, search for Duterte

[@labitcoineragt3596]

Are you from Guatemala? I understood everything you said as if I was typing it myself.

[@leoortiz5708]

USA@@Maxi86inAction

[@MikeStillUK]

Been waiting for this for a long time!! What a time to be alive 🔥🔥🔥

[@integratedphysiocentre223]

Great open thinking towards any complex problem. Keep going Peter your doing a great job!!

[@fredjohnston7022]

100% agree. Hope the next episode deep dives into the social problems as related to monetary policy. Peter did a nice cliff hanger suggesting the problems are deeper than Bitcoin - and Bitcoin can't solve all these problems. The loose end is that FIAT corruption and central control ARE the causes of many, many problems. Money/value/exchange has given us the world we live in because in sound money/value exchange good ideas win. Those countries w/o their own currency, and many countries that have currencies that devalue them by printing for Gov't spending (monopolies), have or are going to fail. Many see monetary/social condition connection as a stretch - but if you look world wide at poverty as related to Gov't/monetary the decay is very uniform based on money/corruption. Also, dictators thrive on central control, which includes the money. Hitler came to power after a massive devaluation of the currency. Great book, "When Money Dies"

[@BTC2179]

The close up of the little boy at the end choked me as this is all about giving him and his generation a better base to thrive on little does he know…

[@survivalpodcasting]

No matter how good of a speaker and podcaster I am I can't even come close to narrating like brit. Well done on this entire thing Peter.

[@JeThoreau_]

It’s okay Jack, we still love your work too!

[@janwue6076]

Well done on the story. Love the coverage of both sides of the bitcoin story in El Salvador. We need more of this. 👏

[@j5aown]

What an incredible story this will be years from now - to look back at this moment in history.

[@sulek1959]

Excellent documentary you should do more

[@Topsnap_Podcast]

So great.. You have really broken through to a new level Peter. #levelup

[@IRLC]

Great film but... the revisit interview with Bukele was underwhelming to say the least. Rather than focus on the Dictatorship claim generically, why not regurgitate the specific claims that he snuck the Bitcoin bill through the courts there? What gave him the leverage to do this? Why did he feel he needed to do this? I can see that the criticisms are largely misunderstanding what is meant by "requiring merchants to accept Bitcoin" given they aren't being fined for technical limitations and don't have to hold the Bitcoin if they don't want to (convert it instantly to dollars). As a Bitcoiner I would have appreciated more REAL skepticism on these points. That said, I understand that an interview with someone like Bukele is not a completely open conversation. This is true for any president or leader. Still, it felt like more could have been said.

[@fridusfroetzl]

I agree, it was nice to watch, an easily digestible report of the sentiment on both sides. Neither Bukele nor his political opponent were really challenged to formulate strong arguments. Fun to watch but it didn't bring much clarity. A somewhat uneasy feeling remains and if I play devil\s advocate : I imagine the IMF is happy with that.

[@IRLC]

@@fridusfroetzl That perfectly sums up my reaction to this: A somewhat uneasy feeling remains.

[@kyledalton2680]

Great work. Can’t wait to go back and watch this again 10 years from now.

[@jondeanpt]

It’s taking me about 3 weeks studying and hours or podcasts and I still struggle to really understand it so I feel for these guys. I think the key thing now is to make it simple to use and at the same time show the young people how BTC aligns with their wokness 🤣

[@dltsabatino]

I'm blown away. Fantastic piece of history, Peter. Thank you for sharing this experience.

[@supermuskokaman]

Amazing film great work Peter but the story is just begun!!!

[@AnthonyRecoveryCoach]

you captured a moment Peter. Thank you and your director for showing us the story and not telling us the story.

[@Novaollie]

Great film and a great job at presenting. Keep up the good work. Looking forward to the next episode.

[@Maxi86inAction]

Love it 🔥 it bitcoin succeeds this will be part of our history and children might watch this film in school to learn about the beginnings of bitcoin adoption.

[@utuber2]

I'll be honest, I thought Peter was a bit of a blowhard, based on his Twitter persona and the tattooed sleeves etc. But to his credit, he comes across here like a really genuine guy who is doing his best to understand this world, and to make his contribution to help make things better. I really respect that and find it inspiring. Well done, Peter.

[@WhatBitcoinDid]

Thanks dude

[@Kahoobb]

Yeah everyone is toxic and an idiot on twitter. It turns you into an annoying terrible human being. Nobody should be allowed to tweet. It causes the worst in people.

[@rebel1052k]

What do tattood sleeves have to do with anything than you being judgemental?

[@itwork6810]

When you sat down with the President, I thought you were going to ask about the lack of eduction on Bitcoin from the locals. I was wondering how or if that would be addressed.

[@planbpassport]

I really really appreciate this film!

[@awaysooner]

"If we have dictatorship, we wouldn't have election." Vladimir Putin "hold my beer".

[@Aft3rpartyeth]

Great doc ❤

[@Cvandenhazel]

Well done, journalist Peter! Keep up the good work man, Stay humble stay free. Cheers

[@toncoppens3962]

A lot of people who are against the Bitcoinlaw because there are much bigger problems in the country, don't realise that most (maybe all) of there problems are because of their currency. That's the root problem i think. I hope it works out well for them and Bukele gets the benefit of the doubt. Then they are an example for the rest of the world. Bitcoin is hope. Good luck. Thanks Peter for all your good content. Looking out for part 2.

[@robertcastles22]

I wish more people understood what you're saying

[@andreferrao9715]

Good show. Perhaps the beginning of something very important to happen in society throughout the world.

[@danielsofrone7455]

Exceptional work Peter. Good thing you ended the documentary on an optimistic note. Keep it going.

[@lessharma]

Top film mate

[@iQeLabs]

I see both sides. This was well done. Thank you

[@MadelonVos_]

So cool!!

[@elibush1285]

Thank for putting out the other side of the story!!!

[@emersonguerra6401]

Awesome, a lot of things has change and it's just the begin.

[@codyeide9794]

Thank you so much. I've been waiting for this documentary for months

[@AlexCerqueira]

Amazing job ! Congratulations !

[@VaibhavBhatz]

Some very hard questions all Bitcoiners should understand as reality. Good one Peter.

[@ClayCook75]

Well done Pete. I really nice heart felt story.

[@caseyfit]

Thanks for doing this Peter

[@chickenlittle9634]

This reminds me of a great vice documentary when vice used to be good. Job well done Peter. Good job showing both sides of the story

[@JPX8]

What a hero, Michael. Pete too :)

[@davidddd7594]

Thankyou for this Pete!

[@cryptogold8753]

Well done Peter. I know one thing I’d pick Bukele over Boris every time.

[@stotle2006]

Great film for showing all sides

[@rickeydamian901]

Great film

[@CryptoPowerTalk]

Great documentary.

[@cryptocsr]

Thanks, Peter. The good, the bad & the ugly... & the hope.

[@michaelburger8002]

Well done sir!

[@ianniculescu1625]

When using a custodial wallet you are not using Bitcoin, not your keys, not your coins

[@brave3630]

this is fantastic.

[@kristenwright2770]

Sober hope and grounded optimism. Really nice job.

[@jueunkim7572]

Hi, I am a listener from South Korea. I truly thank you for making this video. I am still at the very early stage of my life trying to figure out what I can do to the world. This video is extremely valuable in that it makes me realize once again that changes cannot be done at once just by a single person. I believe I also have to recognize my limitations and just go a step forward everyday. Thank you always for your contents!

[@jaimegz]

great story and great film.

[@SuperAwenger]

Thank you Peter for doing this.

[@Wjovani25]

Nice work Peter. Go El Salvador!!!

[@Goriszoon]

Great Peter. BTC will not solve every problem the next day. But giving people a financial future it will on the long end run. Other problems will solve itself if you adress the problems by the roots

[@DoctorTube73]

Great work. Great short film. Touching.

[@13rizzlian]

Cinematography is on point!

[@edo_strength]

Sheer awesomeness this documentary! Epic work and thank you SO much for putting so many work into this and for sharing it to the World 🙏❤️💪🏼

[@NightCoreNighty]

you've outdone yourself peter, great job you've beautifully displayed that it just aint easy

[@dapersan]

Peter nodding at the girl speaking spanish was priceless xDDDDDDDDDDD

[@mariusrobbertse2218]

Well done Peter! Keep on telling the story! Love your work!

[@SC-gh6gd]

22:37 Michael hit the nail on the head. ¡Arriba El Salvador! 🇸🇻

[@fernandoreis2899]

Excelent work Peter.

[@justin-fractionalhub5532]

Very cool doco, well done. Thanks Pete and team! 🍻

[@datravels]

Excellent film. Seeing the line at the end with their numbers got me choked up. Its awesome to see so many with hope. It sure beats seeing people standing in a line waiting for government handouts. Power to the people of El Salvador!

[@MarocTreasure]

Great job Peter & crew. So good to get more of the story, and can't wait to watch an update on how things are going 8 months in

[@MartijnWismeijer]

Nice report Peter! Very well done. A bit Louis Theroux style and a whole lot of What bitcoin did style. Loved watching it!

[@TheCamaroGuy87]

Excellent.

[@Travelling_Times]

I loved this film Peter, glad that you are showing people who aren't happy about it. I listened to a podcast on el hilo and they said a lot of people were angry, this is the only other place I have heard that and the first where I have seen them. I hope that everything does go brillliantly with the adoption and that the country thrives but it's also important to document this. Maybe next year you will speak to some of the same people again and we will find out if there opinion has changed having lived the reality.

[@niisackey2597]

Great 🎥

[@seaneldridge2318]

Amazing Peter, really enjoyed hearing both sides

[@rollet87]

Great job, thank you!!!

[@BTCmonster101]

Peter deserves an award for his work, really does.

[@haralddumhart2417]

Great work!

[@dave_r_pierce]

Fantastic work. Loved it.

[@SnowShredder81]

A Well done documentary. Thank you.

[@rami87ah]

Peter, your content is amazing and you are a treasure. Can't wait for updates on this one.

[@bencozzens5354]

Good job Peter

[@SoloRenektonOnly]

Really enjoyed this thanks Peter and company

[@erincrawford5497]

Great doc Peter. Looking forward to more!

[@scbrit6483]

Great job Peter.....looking forward to next season !!

[@joannagray171]

Excellent Peter, well done!

[@marchinze6546]

Looked it till the end. Very inspiring documentation! Thank you very much for your intensive, honest, hard work for spreading this important message to the world! Bank the unbanked!

[@DN-dj4gi]

Love your work Peter! Both this and podcast

[@brittburns9582]

Awesome work Peter. You’re an amazing voice for Bitcoin.

[@jmcorsair6922]

Great music. Very emotional..

[@Rogc79]

Nice work!

[@lento2307]

Great job Peter. Keep telling your truth and you will be fine.

[@cortezranieri]

What an amazing video! Thank you Peter

[@Marcus-dk9du]

This is amazing work Peter and team!

[@Elliott_Elliott]

Awesome Peter, keep on doing such productions, we need more of them!

[@jdfromdc]

thanks for making this

[@5MinuteBTC]

A great watch. Thanks, Peter

[@13rizzlian]

Can’t wait for #2 now

[@adamsawyer6248]

Great job mate!

[@garyk3675]

Thank you for your commitment and your passion. Please keep up your great work! And, stay safe!