If exposed to the elements it will rot way faster and depending on your climate some bugs can find it very attractive based on its sugar and starch contents. There are various ways to treat bamboo, and they can be divided between the chemical approach and the more traditional ones.
Previous to all of this it’s always a good idea to harvest the sticks before sunrise between 3pm and 5am, this is when most of the starch is still in the
roots. Which makes it less attractive to insects, are less heavy to transport and will dry faster. Then wash the bamboo with a hard brush (This helps aesthetically a lot if done here) and leave it to dry preferably 21 days At a 45 degree angle. Any curing or immunization process must be followed after this.
I’ll describe what’s used for Guadua which is a giant structural bamboo and is what I know by heart :)
Chemical
Here there’s the immersion and injection methods
Injection: Inject 1/3 of the volume of each cavity a solution of 3kg of borax and 3 kg of boric acid dissolved in 50 liters of
water by drilling a small hole two fingers underneath each knot and in zig zag.
Immersion: here you have to remove the inner knots with a metal rod that fits from underneath and immerse in a solution of 1.5kg of borax by 1.5kg of boric acid dissolved in 100 liters of water.
In both cases leave untouched for three days.
BUT there’s a better ecological and easier approach using the same methods but replacing the borax salts for over the counter sea salt and the boric acid for lime in the same proportions.
For both of these I’ve seen people add a whole array of nasty chemical things mostly bug poison specific to termites which I personally deter from. Also after the three days “petrifying” the surface is a good idea and for this you may use things like diesel or much better linseed oil with turpentine...
Also! If it’s an option, Simon Velez one of the best architects imo who uses bamboo for everything, when available submerges them in the ocean for a couple of weeks after theyve dried.
One last personal tip is to add a teaspoon of sulfur the the above.
Traditional
My neighboring indigenous community has used fire just after it’s been cut by slowly and gently passing the sticks over a bonfire and removing the resin that comes out. Afterwards they add a smoking factor to the drying process by setting a smoky fire underneath the drying sticks twice a week. Before cutting they wash them with vinegar.
I’ve used a combination of these for different purposes, the more structural the more picky and thorough.
Phew, hope that helps :)