The Good, The Bad and The Ugly on Galt's Gulch Chile

[Bit_Happy]

Note: Galt's Gulch Chile accepts BTC, but they appear to have serious issues.

"I have waited a long time to write this missive and it is with great regret that circumstances have reached a point that I now can and must.

As many of you are aware, throughout the first six months of 2013 I was trumpeting Galt's Gulch Chile and truly believed it would be an amazing place (and still do, actually, please read on).

I was excited by what Doug Casey had created in Argentina (La Estancia de Cafayate) and had actually purchased there because I was so thrilled to see liberty minded people gravitating outside of the US to a place like Galt's Gulch in Ayn Rand's book, "Atlas Shrugged".  I first wrote about La Estancia as being "Galt's Gulch" in 2011.  I went on to talk throughout much of early 2012 about how exciting I found the concept and how I would like to do one myself.

I had met a person named Ken Johnson in the late spring of 2012 at a conference in Palm Springs.  He told me he was a recent libertarian convert and wanted to help me grow my business. We had begun to work together on some things.....
....
... He was pre-selling lots that the property was not zoned for.  He was not properly setting up the company nor even making any rational business plan for the company.  He was just taking in money and often not even sending anyone a signed contract in return....
http://dollarvigilante.com/blog/2014/8/27/the-good-the-bad-and-the-ugly-on-galts-gulch-chile.html#6505

Oops, I was hoping to visit/live there someday... anyone else?

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[adamstgBit]

This will come to a resolution one way or another.  This is not the last you will hear about Galt's Gulch Chile.

i hope so, this sounded like a really cool project, he's been talking about it for years.

good luck Mr dollarvigilante

[MineHard]

Sounded very interesting... wonder if anyone has actually had any firm plans to visit it?

[eatingtic]

An excellent ponzi I must admit. But I'm surprised people buy lots without the actual land rights.. how would people be so careless?

[Gleb Gamow]

Allow me to give you an idea how this DOESN'T play out: http://web.archive.org/web/20031001183425/http://lfcfa.com/founders/index.html

14 August 2003

DELAY

I apologize for the delay in getting your DMT shares to you. I will post an announcement on this page immediately when the distribution is done. That way, you don't need to keep logging in to your DMT accounts to see if the shares have arrived yet. Just check this page.

Johann Gevers

11 years later, nary a cent's been doled out and Sonny owns BFL.

Any questions?

[Timetwister]

I really doubt something like Atlas Shrugged's Galt's Gulch would be possible in Chile, were socialists are back in power. It seems more viable in more free countries, like Hong Kong, Singapore, Australia, New Zealand, etc.

[Bit_Happy]

I really doubt something like Atlas Shrugged's Galt's Gulch would be possible in Chile, were socialists are back in power. It seems more viable in more free countries, like Hong Kong, Singapore, Australia, New Zealand, etc.

Agreed that there are other countries to consider, but...
Singapore does not belong on the list, since their drug laws include the death penalty (!) for selling even moderate amounts of some drugs.

[TheButterZone]

Neither do Commonwealth countries that infringe the fundamental human right to self-defense.

[inBitweTrust]

Oops, I was hoping to visit/live there someday... anyone else?

This form of developer fraud is very common worldwide. When buying from a developer it is critically important to do so with a lawyer and research all the details thoroughly beforehand.

Berwick should never have moved forward or supported an idea that made false promises of what could become. Out of all people he should have known better.

Either he is gullible or was corrupted by the dream of this investment. Either way I have lost trust in him.

[Timetwister]

I really doubt something like Atlas Shrugged's Galt's Gulch would be possible in Chile, were socialists are back in power. It seems more viable in more free countries, like Hong Kong, Singapore, Australia, New Zealand, etc.

Agreed that there are other countries to consider, but...
Singapore does not belong on the list, since their drug laws include the death penalty (!) for selling even moderate amounts of some drugs.

Yeah, that sucks, governments shouldn't intervene in that field. Everyone should be free to do whatever they want with their body. But even considering that, I'd love to live there, as it's really free in many other aspects, which are more relevant to me.

[blatchcorn]

What has this got to do with Bitcoin?

[inBitweTrust]

What has this got to do with Bitcoin?

It represented one of the few developments worldwide that accepted Bitcoin for property.