Bitcoin and The Allegory of the Cave

2500 years ago Plato penned an allegory that described prisoners being chained to the walls in a cave for all their lives, facing a blank wall. These prisoners watch shadows projected on the wall from objects passing in front of a fire behind them and their whole reality about the world is based on these shadows.

For a prisoner that breaks through those chains in the cave, at first it’s hard for them to bear the reality, and the illusion of the shadows that they have known all their lives is more comforting.

The FiAt money system that clutches the social fabric of all the countries is one that we have all been chained to for our entire lives for many many generations. When people first download a Bitcoin/Lightning wallet and see that instant almost free transaction on their device from one person to another without any intermediaries, it lights a spark. We have seen it countless times as the vendors here in the Feriás accept their first transaction.

However, the people still need that comfort of returning back to the Colónes that they have known all their lives. Imperfect and inflationary as it might be, it is the only thing most here have known to transact with.

So, it’s important that as we introduce the Bitcoin ecosystem to the local economies here, we provide frictionless ways for people to exchange Bitcoin in their mobile wallets back for Colones in cash. Providing this has eased the adoption tremendously here in Dominical. Over the next few weeks we will be introducing Bitcoin ATMs that will allow a 2 way exchange between Colónes and Bitcoin.

Until then you will find people wearing BitcoinJungle T-shirts that will happily exchange your Bitcoin for Colónes.

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@kawalgrover