- October 1, 2021
- |Bitcoin, Crypto News, Government
El Salvador deserves a Nobel Prize for its new volcano Bitcoin mining ingenuity. It’s geothermal energy at its best, and that should put a smile on every environmental activist’s face.
When El Salvador adopted Bitcoin as legal tender about a month ago, we knew extraordinary things were going to happen. One of the main issues with Bitcoin is the energy it takes to mine. At one time, Bitcoin could be mined with a simple computer in your home and only consume a couple of seconds worth of electricity. But that was a time when Bitcoin wasn’t worth much.
As Bitcoin continues to bounce back and begin its Bullish run, with great things come significant challenges. The process is more complex and requires a lot more energy now.
“The process of creating Bitcoin to spend or trade consumes around 91 terawatt-hours of electricity annually, more than is used by Finland, a nation of about 5.5 million.” New York Times
This process has many environmental activists deeply concerned. El Salvador to the rescue. They have come up with the most fantastic idea since Bitcoin mining operations went from desktop computers in a dusty room to massive servers housed in a warehouse. Volcano Bitcoin mining will not only help turn El Salvador’s economy around, but it just might make other mining operations want to step their game up.
“We’re still testing and installing, but this is officially the first Bitcoin mining from the volcanode,” says El Salvador’s president, Nayib Bukele.
So far, El Salvador’s volcano bitcoin mining efforts have brought the country the fortune of 0.0059 BTC, or $260. If you’re laughing, you can stop because that’s just the beginning. That is the proof of a creative process that will keep bringing forth fortune using energy created by the earth, having exactly no negative environmental impact.
If everyone can get on board with that type of technology, Bitcoin wouldn’t raise any further concerns. No one would have any objections at all. We would then have the perfect tender in place that would only increase value because of the Bitcoin system’s higher standards.
You don’t have to mine Bitcoin to own it. Find A Byte Federal Bitcoin Kiosk Near You.