2024-11-15 –, Zimmermann Stage
My talk will outline the opportunities and challenges of building a brick-and-mortar business in El Salvador using Bitcoin. Our mission statement is, "Create a lasting, positive impact on our local community and the guests that stay with us." I will start with a brief introduction about myself and my Bitcoin journey. Incidentally, I was orange-pilled at this very event last year. I will discuss planning, cost of construction, community involvement, managing revenue and expenses, and our target market, all through a Bitcoin lens. Note: I am very much learning on the go here, so any advice or insights from the audience would be appreciated!
I’ve had the dream of building a hostel in Latin America for 6 years now. When I left AB2023, I knew it had to be in El Salvador. Two weeks after the conference, my friends and I pooled our Bitcoin together and bought a 3-acre field in a farming community 2 km inland from El Tunco!
That’s a lot of land, so this won’t be your regular hostel. We have plans to build a bouldering-cross-MMA gym, natural spa, restaurant, bar, dance floor, vegetable gardens, and a fruit orchard. All the good stuff. We will build in order of priority, depending on the purchasing power of Bitcoin at any given time.
Since the purchase, we’ve built a 60 sqm semi-enclosed workshop which served as our house for the winter. As the project develops, we will use this space as a classroom. In addition to creating meaningful employment and useful facilities, we feel that offering Bitcoin classes is the most effective method of achieving our goal in the community.
For the construction work we have completed so far, we paid wages in dollars but shared a tip using the Bitcoin Lightning Network. Until we provide more Bitcoin education, I don’t think it’s prudent to force Bitcoin on people. Long-term, we aim to pay all wages using Bitcoin to people who understand what they are earning.
Our target market will be regular backpackers and sports enthusiasts. I know how off-putting the B word is for normies. Thus, we will orange-pill subtly, leading by example. Of course, there will be a fiat premium when paying for our services. We will build a physical and digital library of resources for those curious to learn more.
Irish backpacker building a hostel