In line with the ideas of Elon Musk.

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Elon Musk’s tweets and decisions regarding the use of bitcoin periodically shudder the cryptocurrency market. At the same time, Elon emphasizes that he does not abandon the idea of using cryptocurrencies, including bitcoin, as a payment instrument. But for this, an important condition must be met — mining must become at least about 50% «green».

That is, the electricity used for mining must be renewable and decarbonized.

Elon Musk is not actually talking about this for the first time. His position is consistent and predictable. It’s strange that some got too excited when Tesla at the top started selling some of its crypto assets.

What do you know about the Republic of El Salvador, located on the Pacific Ocean in Central America? Someone will remember coffee, someone their textiles. Well, perhaps that’s all. And also her #volcanoes. El Salvador has the unofficial status of «land of lakes and volcanoes». Some of the volcanoes went out long ago, some are still active. After all, but the country is located on the line of the Pacific volcanic ring of fire. But what was once considered a danger today can become a «gold mine» that can pour many millions, if not billions, of financial resources into the country’s economy.

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This is how the energy coming from the depths of the Earth, from local volcanoes, will turn into «green» bitcoins. LaGeo currently operates two # geothermal power plants. Their resource and capacities are used only by 1/3 of their potential, which are estimated at 644 MW. And now, the energy of what used to instill fear in people will replenish the state treasury.

It is worth noting here that on June 9, Bitcoin became an official payment unit, along with the state currency and the US dollar.

To the existing geothermal stations, new ones will also be added, the energy of which will also partially go to the Bitcoin miner. The government of the country has been instructed to create an official #crypto wallet, from which, if necessary, the cryptocurrency will be transferred into traditional financial instruments.

In such an unexpected way, Elon Musk’s words about the need for «green» generation of # cryptocurrency were implemented. I believe that the experience of El Salvador will be used by other countries that have a rich natural resource for «green» mining — # hydropower, solar or offshore offshore # wind farms. Thus, gradually cryptocurrency, when more and more countries start mining it at the state level, will become an ordinary payment instrument.

It won’t happen tomorrow, but the process has started …


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