The Coming of Green Bitcoin?

[mlawson71]

What do you think of El Salvador's claims that they will use volcanic energy for their Bitcoin mines?

[Freemind]

What do you think of El Salvador's claims that they will use volcanic energy for their Bitcoin mines?

Several weeks ago I read something about using volcanic energy to mine Bitcoin, but I have several doubts. What they want to use is the heat that the volcanoes give off?. In the article I read they didn't say anything in particular about how they would implement the energy, and I think it will be the most difficult, especially considering that such technology has never been used to mine Bitcoin, from what i know.

[mlawson71]

What bothers me here is that these powerplants that use volcanic heat to produce electricity need to be built from scratch, and that is a huge investment. It's a huge investment for any country, even for powerful economies. El Salvador is not exactly a powerful economy. Where are they going to get that money from?

[AllSii]

Several weeks ago I read something about using volcanic energy to mine Bitcoin, but I have several doubts. What they want to use is the heat that the volcanoes give off?. In the article I read they didn't say anything in particular about how they would implement the energy, and I think it will be the most difficult, especially considering that such technology has never been used to mine Bitcoin, from what i know.

For bitcoin mining, it will be necessary to create an entire infrastructure, for which only one volcanic energy will not be enough. It is possible that this will happen someday, but it will take years.

[nakmantu99]

What do you think of El Salvador's claims that they will use volcanic energy for their Bitcoin mines?

Several weeks ago I read something about using volcanic energy to mine Bitcoin, but I have several doubts. What they want to use is the heat that the volcanoes give off?. In the article I read they didn't say anything in particular about how they would implement the energy, and I think it will be the most difficult, especially considering that such technology has never been used to mine Bitcoin, from what i know.

I think It's a good idea , if they will use volcanic energy, maybe It seems as geothermal energy to generate electricity.
But I don't how to do it.
Every effort is good , if we can do it..
So let's see and wait.

[Freemind]

I think It's a good idea , if they will use volcanic energy, maybe It seems as geothermal energy to generate electricity.
But I don't how to do it.
Every effort is good , if we can do it..
So let's see and wait.

That is precisely what I was referring to, the way to implement geothermal energy. After looking for information for a few days I have come across a report from a company in which they explain it quite well adding more information and some examples and also explaining the advantages and disadvantages of this technology. If you want to read it, it is available here:

https://www.endesa.com/en/blogs/endesa-s-blog/sustainability/geothermal-energy

[mlawson71]

The technology exists and it is quite environmentally friendly, but my question was whether El Salvador can afford such an investment to begin with. I have not seen any concrete information on the matter.

[Freemind]

The technology exists and it is quite environmentally friendly, but my question was whether El Salvador can afford such an investment to begin with. I have not seen any concrete information on the matter.

Who knows, the government of El Salvador can make rounds to finance the cost of operations and implementation. If they do something similar and present a good project it is possible that some companies are interested and invest money, I have seen similar "crazy things" that have generated hundreds of millions of dollars and it was smoke what they sold, not concrete projects. The government may already have these things in mind.

[mlawson71]

Hopefully, it would work out.
Another question - have they actually started implementing Bitcoin as a legal tender? Have people started using it to pay with it?

[Freemind]

Hopefully, it would work out.
Another question - have they actually started implementing Bitcoin as a legal tender? Have people started using it to pay with it?

I don't know, but I don't think the population is already actively using Bitcoin. Keep in mind that stores and businesses must first learn how to use blockchain in its most basic form, send and receive, to be able to start receiving payments from customers. And citizens also need to know those first steps to be able to use it, so I imagine it will take a while to use it actively. They must first educate themselves, and that will take a while.

[mlawson71]

I was thinking about that. If the state wishes for them to do so, it'd be its job to educate them, rather than expect them to search for information on their own though.

[Freemind]

I was thinking about that. If the state wishes for them to do so, it'd be its job to educate them, rather than expect them to search for information on their own though.

I agree, it should be the government in charge of making the population start to know what blockchain is and how it works. If the population had to do it themselves it would be chaos, the majority would not know where to start and would also fall for scams, causing more fear among people who do not know this technology. In addition, since it has been a unilateral decision of the government of El Salvador, it is also their responsibility to educate.

[mlawson71]

I was thinking about that. If the state wishes for them to do so, it'd be its job to educate them, rather than expect them to search for information on their own though.

I agree, it should be the government in charge of making the population start to know what blockchain is and how it works. If the population had to do it themselves it would be chaos, the majority would not know where to start and would also fall for scams, causing more fear among people who do not know this technology. In addition, since it has been a unilateral decision of the government of El Salvador, it is also their responsibility to educate.

My thoughts exactly. Can you imagine some elderly people living alone that fall for basic phone scams trying to make heads or tails of using Bitcoin on their own? I shudder to think about the consequences.

[Freemind]

My thoughts exactly. Can you imagine some elderly people living alone that fall for basic phone scams trying to make heads or tails of using Bitcoin on their own? I shudder to think about the consequences.

That is precisely what I have said on several occasions. El Salvador's younger population will have no problem learning quickly, at least the most basic things, but older people will need more time and help. That is why the FIAT must continue to circulate and the government must initiate campaigns to educate the population as soon as possible.

[elbans89]

My thoughts exactly. Can you imagine some elderly people living alone that fall for basic phone scams trying to make heads or tails of using Bitcoin on their own? I shudder to think about the consequences.

That is precisely what I have said on several occasions. El Salvador's younger population will have no problem learning quickly, at least the most basic things, but older people will need more time and help. That is why the FIAT must continue to circulate and the government must initiate campaigns to educate the population as soon as possible.

Of course, FIAT must continue at El savador. Becaue not easy to learn crypto currency.
I think El savador need time, more time to learn aboyt crypto and usable..
Please wait, we will see the test, sucsess or not.