Another variable that undermines the "Internet did to telecoms what Bitcoin is doing to money" argument is that telecoms were about a century old industry, while money is a civilizationial level technology. Disruption in telecoms naturally should happen much faster than a disruption in the base layer of value transfer.

I love the initiative, except for the part where the name of the place is not said and a new one is given.

I know it's not your term, but you are participating in it by using it. It's fine you're an outsider, and might not have known. But stepping into a place like that it's good to pay some respect to the local energies and spirits rather than calling it the way that some marketers want to call it. Atitlán is a perfectly fine name and the place is magical, as are the local histories and mythologies.

Is there enough land?

It's not called Bitcoin Lake, it's called Atitlán, and its a sacred place. Its name comes from the native language and its heavy with local culture and traditions. As an outsider, you can keep your marketing and respect the history, it's not your place to rebrand.