FTX moved there due primarily to the friendly regulatory environment: on crypto specifically, they’re basically the first country in the world to put out a comprehensive framework for crypto regulation, while most countries have been working on this for years and will probably still be working on it for years to come. More generally, the government seems excited about encouraging tech/innovation and cutting back on red tape.
It’s a fairly small country, and I think if a lot of EAs move there EA could end up being a somewhat influential force in the country: as is I think there’s a decent chance of a lot more crypto moving there and it becoming somewhat of a crypto/fintech hub.
Other nice things: easy travel to the US, low tax, beaches!
(It’s not perfect and actually shares many of the downsides people often talk about re: the Bay Area :P cost of living/housing is pretty high, crime rate is high, and transit/amenities aren’t the best. But I’d guess the benefits make it worth having an EA community there.)
FWIW I’d also want to watch out for a “town/gown” dynamic developing over time where the newcomers and locals basically don’t interact, which could cause various problems down the road. I’m sure FTX has thought about this, but I’d love to see the vision of “an EA community in the Bahamas” include people who are from the Bahamas as well.
Can you say more about the motivation behind building an EA community in the Bahamas?
FTX moved there due primarily to the friendly regulatory environment: on crypto specifically, they’re basically the first country in the world to put out a comprehensive framework for crypto regulation, while most countries have been working on this for years and will probably still be working on it for years to come. More generally, the government seems excited about encouraging tech/innovation and cutting back on red tape.
It’s a fairly small country, and I think if a lot of EAs move there EA could end up being a somewhat influential force in the country: as is I think there’s a decent chance of a lot more crypto moving there and it becoming somewhat of a crypto/fintech hub.
Other nice things: easy travel to the US, low tax, beaches!
(It’s not perfect and actually shares many of the downsides people often talk about re: the Bay Area :P cost of living/housing is pretty high, crime rate is high, and transit/amenities aren’t the best. But I’d guess the benefits make it worth having an EA community there.)
FWIW I’d also want to watch out for a “town/gown” dynamic developing over time where the newcomers and locals basically don’t interact, which could cause various problems down the road. I’m sure FTX has thought about this, but I’d love to see the vision of “an EA community in the Bahamas” include people who are from the Bahamas as well.