Why is El Salvador Using Volcanic Energy to Fund it’s Bitcoin Revolution, When it Could Be Using Solar?
A question I haven’t seen asked, or answered anywhere else.
Anyone who has read any of my stories or followed my Systems Engineering Analyses concerning the global environmental issue, and the part played by Bitcoin, will know that I think in terms of the simple logic that all energy comes from the sun, and that we have to plug into it.
All other options are unsustainable.
Repeat; all other options are unsustainable.
So why are those driving the El Salvador Bitcoin revolution choosing the surely hazardous activity of plugging into the ultimately limited energy of a volcano, rather than just using their sunny weather to capture the solar energy needed?
It is no surprise volcanic energy might be a preferable option to solar, in places like Iceland, that don’t see much sun, but why El Salvador?
The only explanation for this, I believe, is that they wish to mine more than might be possible with solar.
Which would be more than their fair share, surely.
It has already been identified that their current plans, if all come to fruition, will require about half of the market cap of Bitcoin.
El Salvador's volcano-powered Bitcoin mining project produces its first currency
In context: While China has outright banned the sale and mining of crypto within its borders, other countries have…
Wouldn’t that negate the point of Bitcoin?
My guess is they wish to have control of it, in El Salvador.
Greed, again appears to be raising its ugly head.
Tapping off a small amount of power from Volcanic energy might be OK for a while, as demonstrated in places like Iceland.
But what about a lot, like a whole countries-worth, or more?
I wouldn’t like to be anywhere near El Salvador if they get too greedy.