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

blockcrunch.co

19 points·anandaverma18··8 comments

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.

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.

Good luck converting the BTC back to energy though.

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

Any salvadorians over here to give their sentiment about their president ? He seems to have an interesting personality

Salvadoran here. Salvadorans are definitely hopeful, this government is light-years ahead of previous ones. It's had a some bad press internationally but overall it's a refreshingly competent leader.

Pretty cool that this isn't about speculating on the price, it's about de-dollarizing small transactions and remittances, almost certainly over the instant, cheap and secure Lightning network.

The President of a sovereign country now has the laser eyes of the BTC cult in his official profile picture.

Did this bill pass because he threatened to storm congress again [0]?

[0]:https://en.m.wikipedia.org/wiki/2020_Salvadoran_political_cr...

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