Argentina To Mine Bitcoin With Stranded Gas

[Peter90]

Argentina's energy sector is increasingly turning to Bitcoin, this time with a state-owned facility using stranded natural gas from oil fields that would otherwise be wasted.

State-owned energy firm YPF's subsidiary, YPF Luz, recently partnered with Genesis Digital Assets (GDA) to launch a gas flare-powered mining facility. It will harness 1,200 machines to monetize gas currently being flared into the atmosphere.

This comes as Argentina embraces Bitcoin with the election of Bitcoin-friendly President Javier Milei in late 2023.

The news mirrors how other countries are utilizing Bitcoin mining to "clean up" energy grids.
Bhutan mines Bitcoin with renewable hydropower to consume its seasonal excess, while El Salvador uses geothermal energy to power mining with no carbon footprint.

zerohedge.com

[Lucius]

It is true that a huge amount of electricity is lost every year and that it is about 50 000 TWh, and that for comparison BTC mining consumes somewhere around 200 TWh, which refutes any crazy claim that Bitcoin can have anything to do with a serious impact on the environment. Therefore, any use of what would otherwise be completely useless has a positive effect on the economy of a country and creates additional value.

There were some stories that "El Loco" is somewhat pro-BTC, but this is the first time I read that something concrete is happening in that direction - although this is not a revolutionary idea that has not been talked about before.

[Peter90]

There were some stories that "El Loco" is somewhat pro-BTC, but this is the first time I read that something concrete is happening in that direction - although this is not a revolutionary idea that has not been talked about before.

Don't call him El Loco, Lucius

Since Milei is very against their Central Bank, the whole power system is against him.
The media defame him calling him El Loco - The Madman.
Last week someone prominent said Milei is a drug addict.

All the while, the inflation in Argentina has sunk.
His popularity is growing - The people in Argentina love him more and more.

Then you go on crypto forums and find crypto people siding with power and media.
 




I went on X
Put on Search "Milei" + "Bitcoin"
Scrolled down the results
It took me 60 seconds to find this




I wish this forum would support pro-bitcoin figures instead of siding with power and media in trashing them

[Lucius]

Don't call him El Loco, Lucius
Since Milei is very against their Central Bank, the whole power system is against him.
The media defame him calling him El Loco - The Madman.
Last week someone prominent said Milei is a drug addict.

As far as I know, that is his nickname, not given to him by the media or by someone who hates him for his ideas. There is no doubt that he has very drastic ideas, but I also personally do not think that he can change his country with them, especially if it is publicly known from which country he is asking for help, and which was the first one he visited after becoming president (US).

President-elect Javier Milei, known by the nickname “El Loco” since he was a kid, rose from university professor to social-media celebrity, making his mark as an economic libertarian and social libertine.

All the while, the inflation in Argentina has sunk.
His popularity is growing - The people in Argentina love him more and more.
~snip~

Considering the economic situation in that country, people simply like the change that has taken place, but it remains to be seen what the president will do during his mandate. As far as I know, his party does not have a majority and I don't know if he will be able to implement all the changes he wants, but time will tell if there will be positive changes or not.

[Peter90]

As far as I know, that is his nickname, not given to him by the media or by someone who hates him for his ideas. There is no doubt that he has very drastic ideas, but I also personally do not think that he can change his country with them, especially if it is publicly known from which country he is asking for help, and which was the first one he visited after becoming president (US).

President-elect Javier Milei, known by the nickname “El Loco” since he was a kid, rose from university professor to social-media celebrity, making his mark as an economic libertarian and social libertine.

No Lucius, please no
Msn? really?
Microsoft News?

Why do crypto people choose mainstream?
Do you think the elites love you?


El loco - The madman - is used by his enemies in order to defame him.
Nobody among his supporters call him that demeaning way.
So using that nickname you side with mainstream media - those who defame him.

There you go Lucius
It took me 2 minutes, and no, I won't translate it for you

President-elect Javier Milei, known by the nickname “El Loco” since he was a kid, rose from university professor to social-media celebrity, making his mark as an economic libertarian and social libertine.

"A social libertine" - "A libertine is a person devoid of most moral principles, a sense of responsibility, or sexual restraints, who sees these traits as unnecessary or undesirable"
Lucius, when you read that expression, didn't come up to you "Well maybe these people aren't 100% objective..."

Crypto people informing themselves about pro-BTC personalities from news organisations - mainstream media - that hate and openly defame them.
And then they wonder why the crypto community has betrayed Bitcoin's ideal

Considering the economic situation in that country, people simply like the change that has taken place, but it remains to be seen what the president will do during his mandate. As far as I know, his party does not have a majority and I don't know if he will be able to implement all the changes he wants, but time will tell if there will be positive changes or not.

Time will tell?
Time doesn't tell anything Lucius, it's us who need to search for infos.
It took me 5 minutes

............................................


That's why Argentinians love him.
Wait for Msn & Facebook to inform you about these achievements.

but I also personally do not think that he can change his country with them

No need to think Lucius, just say goodbye to Msn and Facebook, go to X and do a 5 minutes search.
The Milei administration is fixing the state budget, so Argentina's risk rating is decreasing.
That means their credit rating is increasing - and no, I'm not going to explain the benefits for the country of a credit rating upgrade.

There were some stories that "El Loco" is somewhat pro-BTC, but this is the first time I read that something concrete is happening in that direction

Some stories?
They are not "stories", they are facts. The proposal to de-tax cryptos is not a "story", is a fact.

Milei is the most prominent pro BTC political figure worldwide.
How is it possible that crypto people don't know how pro BTC is the president of a major country?
Oh yes, Msn and Facebook...


It took me 60 seconds
put "Milei" and "Bitcoin" in Seach and scroll down.
Bitcoin Magazine, V. Buterin was one of their founders.

[MrSpasybo]

It is true that a huge amount of electricity is lost every year and that it is about 50 000 TWh, and that for comparison BTC mining consumes somewhere around 200 TWh, which refutes any crazy claim that Bitcoin can have anything to do with a serious impact on the environment. Therefore, any use of what would otherwise be completely useless has a positive effect on the economy of a country and creates additional value.

Politicians are just exploiting the energy issue of the BTC network to polish their names and get more exposure in the media. At this point, I don't believe they still think that BTC has no value at all for the world, they are just trying to fool those who support their outdated views on BTC.

While energy is not enough for everyone, we still have a lot of wasted energy, I think it would be better if it could be tokenized into BTC for value storage and protection. My country, Vietnam, also has a lot of wasted solar energy, many power plants have to discharge electricity because the transmission system cannot meet the large capacity, I wish these power plants would operate their own BTC mining farms to utilize the surplus energy, create additional income for themselves and tax revenue for the country's development.

[electronicash]

 i thought he was called El loco because he burst out right in the middle of WEF meeting. but yup its common for political enemies to just give a nickname to someone they wanna demonize to the public.

using the stranded gas isn't a madly idea though. they are of no use so they the country might as well make BTC out of it. more countries mining BTC will make BTC more appealing to other countries to do the same.  if Melei can pay up the country's debt to IMF like Bukele did, the rest of the world should do the same.

[Peter90]

 i thought he was called El loco because he burst out right in the middle of WEF meeting. but yup its common for political enemies to just give a nickname to someone they wanna demonize to the public.

Thanks EC
yes, you thought Milei was called The madman because, the other one thought he was called The Madman because, I come in a crypto forum and see crypto people trashing the most prominent pro-BTC leaders - this forum is full of Musk bashers -, I see crypto people siding with governments and mainstream media in crashing crypto businesses in the USA, and I wonder What's wrong with these crypto people.

Now I understand why.
Crypto people drinking from mainstream media.
Of course they keep bashing Musk.
Of course they use the label madman when talking about Milei.
Of course they side with the US Gov.
Of course they call fake news what mainstream media call fake news.


I openend a poll about where are users from, I see most are from not-G7 countries.
X is strong in USA and G7 countries - I think.
Facebook, much stronger than X in non-G7 countries - I think.
My theory - I could be wrong - is that most users here use Facebook as main source of information.
This theory is supported by the fact that you never find a post trashing Mark Zuckerberg and Facebook.
Is my theory correct or is it wrong like always? 

[TomPluz]

The news mirrors how other countries are utilizing Bitcoin mining to "clean up" energy grids. Bhutan mines Bitcoin with renewable hydropower to consume its seasonal excess, while El Salvador uses geothermal energy to power mining with no carbon footprint.

I love these exciting new developments regarding Bitcoin mining. There is no question that Bitcoin mining is requiring the use of gargantuan volume of energy and has become like a trigger for many environmentalists and their supporters to call Bitcoin as a threat to Mother Earth. With the use of otherwise wasted energy, we are taking advantage of something that should have gone to nothing and make it valuable. This kind of idea can be working well for Bitcoin and can be winning the support of many cryptocurrency enthusiasts who are at the same time looking at how we can make this planet a better place to live in.

[paid2]

I love these exciting new developments regarding Bitcoin mining. There is no question that Bitcoin mining is requiring the use of gargantuan volume of energy and has become like a trigger for many environmentalists and their supporters to call Bitcoin as a threat to Mother Earth. With the use of otherwise wasted energy, we are taking advantage of something that should have gone to nothing and make it valuable. This kind of idea can be working well for Bitcoin and can be winning the support of many cryptocurrency enthusiasts who are at the same time looking at how we can make this planet a better place to live in.

The problem is that many of our environmental detractors are particularly dishonest/using bad faith, and trying to debate with them is often a waste of time. However, this is an excellent opportunity to remind us https://bitcoincleanup.com/, which offers a synthesis and good demystification/explanation on the topic of BTC's energy consumption.

Again, one more time, popular opinion isn't keeping up with the facts fast enough. As is often the case with BTC...

[NotATether]

- this forum is full of Musk bashers -

Elon Musk was never pro-BTC though. He was only into that for the money. I think you remember when Tesla publicly trashed their Bitcoin payment support over BS "environmental concerns" (this caused Bitcoin to dump by 10% by the way).

He does seem to be pro-DOGE though. Which I don't mind because I don't really care about DOGE anyway. But the man is a paper bull when it comes to BTC.

This theory is supported by the fact that you never find a post trashing Mark Zuckerberg and Facebook.

Strange. If you walk into Bitcointalk and open any thread about privacy then you can see people trashing facebook left and right.