Why Bitcoin in our community?

I must tell you something, Píntag Amaru is a community that lives in the Andes, 3000 meters above sea level, it is a peasant and agricultural community that defends nature, it is an organized community of 40 families of men and women who work in the fields and in other cases migrate to big cities to seek a better future.

This organization allowed the entire community to save in dollars, funds that they had in the bank earning a rate of 5% per year in the best of cases. 

In my country, if you borrow from a bank in a dollarized economy, interest rates range from 16 to 22% per year.

The difference is brutal, is the money we leave in the banks worth less than the money the bankers lend you?

Taking into account the above, I proposed that we migrate the community savings to Bitcoin and create the first community bitcoin wallet in an on chain. The keys are not mine, the community is the owner of its access keys.

The result was that we bought Bitcoin at about 30k usd, and when it reached 45k (in 6 months or less) we decided together to share the profits among all members. Each member received 136 USD This was December 2021, and for a country like mine where the minimum living wage is around 400 USD, and there is very high unemployment, it was a great help. (In the community only 3 people have a formal job).

Thank you Bitcoin!

That's how we created our small Bitcoin savings cooperative.

And the story has just begun.

Have a great time from now on

Mauricio