A password will be e-mailed to you.

Bitcoin all set to go green with El Salvador’s new initiative.

El Salvador and bitcoin are two terms that are heard together these days. The Central American country made a historical move that will go down in the history of crypto as a milestone movement. The country recently announced the acceptance of bitcoin as legal tender, thereby becoming the first country to carry out this feat. In the midst of the dip and crypto prices dropping like leaves during autumn, the move by the country carries great magnitude and significance.

El Salvador bitcoin mining

Once again, El Salvador has made news with the announcement of using geothermal energy attained from volcanoes for the mining of bitcoin. In a context where the high energy-intensive methods used for mining caused quite a riff leading to the drop, this comes as a saving grace, taking away a major black mark off the list.

The Tweet by El Salvador President, Nayib Bukele has managed to turn quite a number of heads. According to the president, the new and quite innovative initiative will provide 95 MW of geothermal energy with zero emissions, in addition to being 100% clean.

This might prove to be a groundbreaking move that will add laurels to bitcoin history, and inevitably ensure a brighter future. The timing of the announcement is rather sharp, particularly in a context where bitcoin prices are falling, and with that the hopes of those who invested in the same.

Quite unsurprisingly the Tweet received a lot of attention, and people have a new topic of interest to discuss on Twitter. While some are quite enthusiastic about the innovative move, there a good number who are skeptical about the same. Only time can tell who will be proven right in the long run. However, it cannot be denied that in a rather critical context where bitcoin is facing quite a lot of backlash over its negative impact on the environment, the announcement by the El Salvador president has helped in diluting the criticisms, letting in a new perspective that can be groundbreaking.

Ever since the Tweet, Twitterati has not rested and has been flooding the platform with responses and opinions, which open up a spectrum of perspectives and insights.

Here is a set of responses from Twitter.

While this new move might be an answer to various questions, some sharp questions are also being raised.

Finally, a ray of hope amidst chaos for the miners.

Somebody has to take the bitter pill after all.

Its applause everywhere for the president.

Looks like Bitcoin is finally going to get experience bright sunshine after a disastrous downpour.

And this is the beginning of a new relationship. Between volcano and crypto, and let’s hope it is successful.

Perhaps it is time to change from laser eye to something volcanic.

Every coin has two sides though.

 

Comments

comments

No more articles
Send this to a friend