QuoteEl Salvador's President Nayib Bukele said on Wednesday that he has instructed state-owned geothermal electric firm LaGeo to develop a plan to offer bitcoin mining facilities using renewable energy from the country's volcanoes.
QuoteEl Salvador became the first country in the world to adopt bitcoin as legal tender after its Congress approved Bukele's proposal to embrace the cryptocurrency. read more
Quote"This is going to evolve fast!" Bukele said on Twitter.
QuoteThe Central American leader's announcement has put a spotlight on the environmental impact of cryptocurrencies, which are virtual coins exchanged without middlemen, such as central banks, to purchase goods and services.
At first the story seems kind of crazy, but then you think about it.
Clean steam from volcano as a power source. That's hot.
The process of extracting the currency from cyberspace, requires vast amounts of energy which has recently attracted a lot of negative feedback for Bitcoin and would hurt mainstream and crypto adoption. But if you could find clean ways to mine that narrative goes away.
Next Bukele tweeted construction had already begun.
Bukele changed his Twitter profile photo to a image of himself with blue laser eyes, a popular image among supporters of cryptocurrency.
His previous photo, updated when he announced his intention to send a bill to make bitcoin legal, featured him with red laser eyes.
Crypto culture is impacting Global Politics.
While I never thought Bitcoin was dead, it may recover from this recent FUD attack fairly quickly.
It looks like BITCOIN had a slight upswing with all the positive news.
I love the ridiculousness of crypto, politics and the world.
Funny humans and our money
I can't wait to see what happens next!
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I see some new fud, maybe we bottom out now :)
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No question there will be another round
Maybe, until it blows up! (insert kappa emote here)
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Volcano makes Elon like BTC again ;)
That's for sure!
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Let's hope so!
It’s a brilliant use of the geothermal energy! Let’s just hope the IMF economic hitmen don’t show up, lol.
I'm sure he's already packing his luggage.
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Should be interesting to see how it is handled
Bitcoin didn't really need saving. However, this is awesome news! We will see in the coming years whether or not the country of El Salvador really blossoms and we see Bitcoin fixes everything in action. I'm hopeful
this resembles another saying: "Earth doesn't need to be saved. It was here before and it will be here long after humans went extinct."
And I really like the analogy: Bitcoin is eternal.
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Yeah, SAVING, was a bit dramatic. I think it will be really interesting
Geothermal is an underrated source of clean energy. We don't hear much about it, yet it has much to offer.
If El Salvador can take advantage of its volcano or volcanoes to provide energy for Bitcoin mining and maybe even the mining of other cryptocurrencies, then imagine the effect this would have on other areas known for volcanoes:
It would be amazing to see what happens in places like those and others.
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I don't know whether to be happy or worried, only time will tell, but the fact that they are using clean energy for bitcoin mining will shut the mouths of many environmentalists.
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And that's a pretty good benefit if you ask me.
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Geothermal energy contributes more than 20% of the electricity consumed in El Salvador. And 1/3 of the whole capacity is for this. If they could use the rest of it, it's basically free money which is clean and environment friendly too. ✌
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Pretty exciting development, I hope it goes well.
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No way is it gonna save btc, btc will die a fiery death at the bottom of said Volcano one day, if the Sun doesn't gobble every last btc up! Haha nice try. Boom! The next big short is around 40K, so get the popcorn popper warmed up, it's gonna be a rough few years for BTC me thinks!! All this talk they are doing is total scam, never gonna happen. That country is way too poor to get that stuff done. I don't buy it for a second.
Are blue laser eyes better than red laser eyes?
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The lazer eyes are fun. I'm not sure which color you should choose
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It's seems like. because bitcoin boost up after EI salvadorbut but time will tell this.
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Waiting for the tweet where Elon is going to share a ❤ combined with $BTC
Perhaps volcanic energy is the catalyst Bitcoin needs to erupt again.
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