El Salvador Bitcoin bill passes and president hints volcano energy for mining

Re:El Salvador Bitcoin bill passes and president hints volca... by lkramer on Wednesday June 09, 2021 @03:00AM (#27445065)

If they are going to try to build a substantial part of their economy on bitcoin mining, they are going to run into the same issue Russia has where a fluctuation in fossil fuel prices can completely stall their economy. A less exciting, but more prudent action would probably be to build out the energy infrastructure so they are able to export the vulcano energy to neighbours.

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Re:El Salvador Bitcoin bill passes and president hints volca... by smt88 on Wednesday June 09, 2021 @04:01AM (#27445399)

PoW mining is a way to export energy, and they can do it much further than to immediate neighbors.

BTC is a bit like transferrable electricity. Whether that makes it good or bad for the world is certainly... debatable.

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Re:El Salvador Bitcoin bill passes and president hints volca... by jankeymeulen on Wednesday June 09, 2021 @05:53AM (#27446112)

Good luck converting the BTC back to energy though.

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Re:El Salvador Bitcoin bill passes and president hints volca... by senectus1 on Wednesday June 09, 2021 @08:55PM (#27455467)

I mean, good luck converting that Gold ingot back into energy...

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