How El Salvador Will Mine Bitcoin From Volcanoes?

bitcoins, cryptocurrencies, mining, energy

Title: How El Salvador Will Mine Bitcoin From Volcanoes?

description: El Salvador will soon make Bitcoin legal currency, making it the first country to do so, reports The Guardian.

What will you expect?
We learned that under a new law enacted by the country, citizens will be able to use Bitcoin for anything from paying taxes and settling debts to purchasing goods. Salvadoran President Nayib Bukele said the new move will help people who don't have access to bank accounts and people who want to transfer money back from another country.

There has been a lot of hate and criticism about these plans on the web and on internet forums.

Bitcoin will not hold onto other currencies. There will also be others that can be used to pay in this country. You have to remember that breaking complicated puzzles in order to mine cryptocurrencies consumes a huge amount of computing power.

What do experts think about this topic? Experts have also suggested that access to cheap renewable energy may be the key to clean cryptocurrency production. It would attract more miners to produce bitcoin without consuming huge amounts of electricity.
The high cost of mining has prompted companies to look for cleaner and cheaper ways to mine digital currency. In time, there will be more and more ideas on how to mine cryptocurrencies at a cheap cost of electricity.

keywords bitcoins, cryptocurrencies, mining, energy

How El Salvador Will Mine Bitcoin From Volcanoes? on Who Called Me UK

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