Building Bitcoin Standard in Portugal – Bitcoin Magazine
This is an opinion editorial by Holly Young, Ph.D., an active builder in the Portuguese Bitcoin community.
Way back when people thought the earth was flat, it was more or less here, in Portugal where I’m writing this, that people thought the earth was ending. And if you look out to sea, you can understand why, as the gray Atlantic Ocean stretches as far as the eye can see to America in one direction, and to North Africa in another. Names referring to the edge of the earth (“Fisterra,” “Finisterre”) are common along the Atlantic coastline.
Image source: Author
Portugal’s visa process, for those of us who aren’t European, while somewhat slow, is manageable and doesn’t necessarily involve parting with too much of your Bitcoin stash. A D7 visa, for example, only requires you to show means of income or passive income (and yes, they consider holding Bitcoin as a means of passive income) and the equivalent of two years’ minimum salary in your bank account.
For anyone who has ever visited, I hardly need to elaborate on the charms of Portugal. The climate, the beautiful landscape, the food, the incredibly friendly and warm culture speak for themselves. It is much less focused on maintaining appearance and status than its Mediterranean sister countries, Italy and Spain. For those interested in living a healthy outdoor life, whether it’s hiking, surfing, motorcycling or horse riding – anything is possible, Portugal is paradise. For those looking to raise a family here, it is generally a safe environment, with low crime rates, decent healthcare, some outstanding international schools and a vibrant homeschooling or alternative schooling environment.
There is something about Portugal’s history that makes it a Bitcoin paradise as well. The country was under a dictatorship from the mid-1920s to the mid-1970s, meaning that political repression and censorship are still vivid memories among the local population. Poverty was the norm here, especially before it joined the EU in the 80s, and Portugal is still one of the poorer European countries.
An influx of Bitcoiners inevitably brings with it more prosperity, feeding the local economies. Portugal’s history, attractive lifestyle and Bitcoin-friendly tax laws make it fertile ground in itself for a Bitcoin community.
And then you have the kind of people that Portugal has always attracted as immigrants.
Those of us who have washed up and put down roots here in Europe’s deep south have, I think, some common characteristics. Many of us came to take our children away from the rigid and cramped school systems of Northern Europe. Many have bought land and are keen to move towards self-sufficiency. Many are digital nomads looking for community – this is especially true further north, in Lisbon. Many are people who work with their hands and make goods to be sold. Generally speaking, Portugal attracts and always has attracted a pro-liberty crowd when it comes to immigrants. And I can tell you from experience that these people are natural Bitcoiners. Orange pilling here is preaching to the choir, even though many had never heard of bitcoin. Ask them if they want a decentralized, deflationary, censorship-resistant money and the answer is a resounding “yes!”
Of course, none of us know what the future holds, but whatever it brings, it seems we shouldn’t underestimate the human value of our peer-to-peer network. What I enjoyed most about the short period I spent at Bitcoin Beach in El Salvador was the international crowd that wanted nothing more than to talk Bitcoin over dinner. But the benefits of having an active Bitcoin community aren’t just social. We can all see that hard times come with hyperinflation and shortages – for these problems only parallel economies provide a realistic solution.
During COVID-19, some friends of mine set up what they called a private market on their land. In no time, the first 10 stalls had expanded and there were several hundred shoppers when I visited. Stalls sold local honey, mushrooms, clothing, charcoal burners, eggs, meat, jewellery, local spirits, candles and brass ornaments. People offered circus workshops for children, clothes repair — there was live music and a festive atmosphere. Initiatives like this are perfect for introducing bitcoin as the ideal currency for a parallel, local economy, with all the benefits that Lightning offers. As Bitcoiners, we must actively seize these opportunities. I will hold a “Bitcoin for Beginners” workshop in the short term, organized through the Telegram group for the market.
On a beach down on the south coast, Meia Praia, the first green shoots of Bitcoin Beach Europe are beginning to sprout. So far it’s just a small beach bar. But if you go to Bam Bam Beach bar on a Friday night, you’ll find live music and an active, international crowd of Bitcoiners there, swapping stories and paying for their cold beers with Lightning. Other initiatives are slowly emerging as well. The farm shop owned by a dear friend of mine also accepts rates as payment. A pizzeria down on the south coast in Burgau does it too. So does a steakhouse in Almancil. One by one, Bitcoin businesses are popping up and flourishing.
For the European Bitcoiner, the US looks like an enviable hub for Bitcoin meetups, with a tantalizing array of gatherings on a regular basis, especially in Nashville and Austin. Here in Europe we have to work a little harder to get our Bitcoin contact time and Bitcoin chats in. But there has never been a better time for European Bitcoiners to gather and start holding meetings, information sessions and start building communities.
The family is first – the community is a close second. Just as the integrity of family relationships requires time, effort, commitment, and attention, so does building and maintaining a community. Portugal provides the welcome we need for a European Bitcoin community and economy – it has the potential to become Europe’s Bitcoin heartland. But the most important thing is that we all do our best to contribute to the orange tsunami that hyperbitcoinization will be. “Build back better,” say our politicians, and I wholeheartedly agree – by defunding their regimes, by opting out, by buying bitcoin, by helping those around us buy bitcoin, and by building the society we want to live in yourself, from the ground up.
This is a guest post by Holly Young. Opinions expressed are entirely their own and do not necessarily reflect the opinions of BTC Inc Bitcoin Magazine.
