Hello I will tell you about the topic In El Salvador manages to extract 475 Bitcoin using geothermal energy from the volcanoes quite important news about EL Salvador, the first country to accept Bitcoin as legal tender.

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"In El Salvador they manage to extract 475 Bitcoin using geothermal energy from volcanoes"

• Although many criticize the president of El Salvador for this approval, the reality is that the president will go down in history either for having made the best or worst decision of his life.

• Let's not forget the story of those citizens who learned about bitcoin when it was barely worth a few dollars and did not want to join out of fear. Today, those who did join are millionaires and billionaires. A very similar story could happen at the country level, although of course it will take time.

• There are certainly those who are worried about the volatility of the market, it is true, Bitcoin is too volatile, but let's not forget that Bitcoin will only open the door to more projects, there are projects like stablecoins or projects like Centric which will combat volatility and give a annual performance to users.

Bitcoin is just that, the door that the crypto market needs to open the way to a new era.

• The president of El Salvador, Nayib Bukele, this Wednesday, May 15, instructed the state geothermal energy company to prepare a plan so that the country can mine the cryptocurrency bitcoin after the approval of a law that gives it legal tender.

• The president indicated on his Twitter account that he gave said instruction to LaGeo, a subsidiary of the Executive Hydroelectric Commission of the Lempa River (CEL), to “offer facilities” in which it can be generated.

• The order of the Salvadoran president seeks "a plan to offer Bitcoin mining facilities with very cheap, 100% clean, 100% renewable and zero-emission energy, taking advantage of Volcanic Activity.

• Its bitcoin mining process is based on so-called miners who use powerful computing equipment to solve mathematical equations in the “blockchain” and whoever does it the fastest will receive the new digital coins generated.

• The Salvadoran president and engineers from the state company dug a new well that will provide a capacity of around 105 megawatts of energy that will be used for Bitcoin mining.

• In a second message on the social network, Bukele added that they would be developing "a complete Bitcoin mining center around it.

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What makes Bitcoin unique?

• One of the most significant firsts of Bitcoin is that it was the first cryptocurrency to become operational in the market.

• This cryptocurrency has reached an entire expansive community and gives birth to a new industry with many clients who create, invest, then market and use Bitcoin as cryptocurrencies in the digital world.

• The birth of this first cryptocurrency has founded a conceptual and technological base that subsequently inspired the development of many more competitive projects.

• The entire cryptocurrency market, which is now worth more than 1900 billion dollars worth the redundancy, is based on the idea made by "Bitcoin" money that can be sent and received by anyone anywhere on the planet certainly approved and legalized, without having to depend on a trusted intermediary such as a bank or a financial services company.

• The confidence it exerts in its pioneering nature (BTC) remains in position 1 in this vibrant market after more than a decade of its great existence.

• Even after Bitcoin has lost its undisputed dominance, it remains the largest crypto asset, with a market capitalization fluctuating between $1 billion and $2 billion in 2024, largely due to the presence of platforms that provide usage options for BTC: wallets, exchanges, payment services, online games and much more.

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Weekly Count Post #1 Thursday, May 16, 2024 / time 01:30 am.