The president of El Salvadore just tweet that he wants a plan to offer facilities for Bitcoin mining with very cheap, 100% clean, 100% renewable, 0 emissions energy from their volcanos.
I’ve just instructed the president of @LaGeoSV (our state-owned geothermal electric company), to put up a plan to offer facilities for #Bitcoin mining with very cheap, 100% clean, 100% renewable, 0 emissions energy from our volcanos 🌋
This is going to evolve fast! 🇸🇻 pic.twitter.com/1316DV4YwT
— Nayib Bukele 🇸🇻 (@nayibbukele) June 9, 2021
View Reddit by _CypherIO – View Source
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10~20 years fast!
What a proud time to be Salvadorian.
News headlines, 2040:
“San Salvador the tech capital of the United World Federation will be the first city which builds Earth-Mars teleportation channel!”
I fully support El Salvador’s adoption of Bitcoin, but volcanoes are not emission free.
They are emission rich, but as long as it is there, pumping out all of that energy, might as well do something good with it.
Imagine if being a bitcoin country brings about similar benefits to a country having oil
“We here at the U.S. State Department are stunned and saddened to learn that the El Salvadoran government plans to use and exploit freedom-loving volcanoes in a cynical bid to create unregulated terrorist bitcoins. Also, we’re equally shocked and outraged that global warming will be happening. We stand with the people of El Salvador as they seek regime change and embrace freedom and democracy (P.S. if the rebellion works we’ll pay you in bitcoin).”
Is this an Onion story? 😂
lemao, boomers at r/Buttcoin are arguing this is a bad thing
Volcano powered mining? I feel like these have got to be decked out in evil villain type head quarters. Do they have a volcano shaped like a skull I can open a mining operation at?
Anytime a person in power in developing countries talks about advancement and getting ahead of the curve I usually assume it to be some kind of power grab or another mechanism for corruption.
For some reason, my BS meter is really high on this guy. Let’s hope it doesn’t turn out that way.
gotta ban volcano now
So, to sum it up: BTC legal adoption, low-cost energy for mining and no capital gains.
The more I look at it, the more I see a perfect mix for a country ressurrection.
How are they going to cool down the mining rigs?
yea when those volcano erupt, the crypto market is literally going to explode to death.
So, basically the president of El Salvador bought a bunch of Bitcoin and he needs it to see $60k again. Got it.
I foresee a future American funded overthrow
Fucking brilliant strategy. Those firms will likely also pay their taxes with bitcoin, as the new legislation seems to promote.
Volcanos Bullish.
Somebody get the Icelandic thermal energy industry engineers on the phone! If anyone knows about geo-thermal energy harvesting, it is the 100% renewable energy generating nation of Iceland.
A more or less authoritarian dictator is lying to your face (nothing is zero emissions lol), and you’re like woooo yeah. Take a step back and think critically about the source and motives people sheez.
Even if it were completely true, that’s still **VERY BAD** for El Salvador. When more and more of the money comes from an isolated, government run company, and not from the distributed work of the people, it allows the ruling class to further and more brutally ignore human rights and value given to the people. Because they are now making less % of the income of the country, so why not pay LESS attention to their needs and oppress them even more?
You see the same thing with countries that make most of their money from gold mines or diamond mines etc. They become the most brutal dictatorships of all, complete opposite of improvement.
It is a smart move for the “president”, but only smart for him and his cronies, not for the people.
This is the kind of bitcoin news I like to see.
Please correct the country name to *El Salvador*
Thx
All the countries with oppressed indebted financial systems are seeing the light one by one.
This guy is telling people whatever they want to hear, whoever they are.
It’s scary as fuck.
That’s good press!
Magma money!
​
Iceland and New Zealand enter the chat.
We’re going to mine money with computers using volcanos
Normally this would’ve made bitcoin move heavily. Funny how elons fud can tank the market and a country adopting bitcoin as legal tender doesn’t impact it all that much.
These are strange times.
But do the volcanos want to power the maths of transactional confirmation? Do they get a say?
So Tim Dillion joking about using volcanoes to power Bitcoin mining at the Bitcoin conference wasn’t actually that crazy of a thing to say?? Lol.
If it weren’t dangerous atm id be planning a nice lil trip to El Salvador
Bring me my volcano-powered decentralised magic internet money right. the. fuck. now.
Volcano powered digital money? This is the right timeline.
id laugh my ass off if they became incredibly wealthy as a county and my dumbass country of the USA who wants to keep pushing the dollar is left behind.
Its funny, the US is greedy as hell and wants more mone and control, but China wants more control than money it seems.
I live in the largest geothermal area in the world, just North of San Francisco. The majority of our energy for 600k people is generated using a similar method as would be used for this project. It works great.
I love bukele for this, it’s great step for the mankind. I saw this video that summarises it perfectly
https://youtu.be/syuMVAwSwTE
All Latin countries will follow . Ecuador, Columbia, Argentina, Peru
That guy sounds way too intelligent to be a president.
But but how could this be??! I thought it was bad for the environment, surely there’s no way there are clean alternative sources of energy