Will Volcano Mining Save Bitcoin?

https://twitter.com/nayibbukele/status/1402680890057166858?s=20
- nayibbukele

Source:https://www.reuters.com/technology/el-savador-exploring-volcanic-bitcoin-mining-bukele-says-2021-06-09/

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.