El Salvador 🇸🇻 Mines First Bitcoin With Volcanic Energy 🌋

[Wind_FURY]

Where China made the biggest mistake in throwing away their competitive advantage over an industry, the Bitcoin industry, El Salvador will pick up the pieces and have the competitive advantage over the future of money. Sorry China, you had the opportunity.

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[dupee419]

Bukele's transparency towards his project for El Salvador is actually a great trait that he has, sharing it to the world and the country's success on being the first country to ever utilize Bitcoin.

I do have one question in mind though, is there any negative effect on using geothermal energy for mining? I know that geothermal energy is natural energy and that it is definitely way better than electricity, though, is there anything negative that could possibly happen overtime? is it hard to maintain? any environmental issue for volcanic geothermal energy? Just really curious, though I did my research, I do wanna know your responses over this.

[DdmrDdmr]

It’s a nice catchy publicity stunt, I’ll give them that, but that’s basically all it is. The geothermal power plant, as I mentioned on another thread, has been around for a couple of decades, so they basically plugged in to something that was already there (not custom made for the occasion).

Now the energy supporting the mining process can conceptually be attributed to the geothermal power plant, but since the country is deficitary in energy production, and is required to import it, they’re basically shifting the likely non-clean energy attribution to elsewhere within the country (and cost).

[electronicash]

i didn't understand geothermal actually but i have it pictured in my mind when the term "volcanic" is mentioned.

this is what made bukele more famous so he hast to tweet whatever is the update if they have gotten just 0.00001BTC with this volcanic energy, he'll announce it because he initiatives this project. they don't have to pay for this electricity, i guess more BTC airdrop from the government?

[cotton ball]

elsalvador mines the first bitcoin with volcanic energy, I salute the president of el salvador, because bukele is really serious about developing bitcoin, and is always looking for ways to make it easier for its people to adopt bitcoin, hopefully the steps taken by bukele are successful, and can make other countries follow in the footsteps of el salvador..

[masterrex]

El Salvador's president is determined to implement his plans for Bitcoin, despite the opposition of some of his countrymen, But I think El Salvador's decision to adopt Bitcoin is not that bad at all, in fact, is it was open a new opportunity for El Salvador to try a new a form of a technology-based asset like Bitcoin and generate income from it.

[noorman0]

-snip-
i guess more BTC airdrop from the government?

That's possible, because building bitcoin mining also consumes the state budget that should be allocated to something else, such as infrastructure or government benefits. A brilliant move has been to build bitcoin mining as an inventory of countries that can provide sustainable benefits and replace some of the roles of other countries for certain affairs.