Subj : Crypto currencies and mining..
To   : Ogg
From : Oli
Date : Mon Oct 25 2021 09:03 am

Ogg wrote (2021-10-24):

 O> Hello apam!

 O> ** On Sunday 24.10.21 - 12:29, apam wrote to Ogg:

 >>> "El Salvador announced plans on accepting cryptocurrency as
 >>> legal tender and calls for the use of geothermal energy for
 >>> bitcoin mining in the country."

 a>> But why? That energy could be used for powering homes / buisnesses
 a>> etc, instead.

 a>> Seems like a massive waste of resources to me, for what?

 O> For powering homes I would think that there would need be an
 O> infrastructure to distribute the power from the geothermal site
 O> to the homes.

 O> But only one structure that can draw power from a geothermal
 O> vent is much simpler?

If you directly could convert bitcoin to electricity, it would be a marvelous energy storage. But mining bitcoins is just bullshit (that in the fucked-up world we are living does buy you real things).

They could use the power to create hydrogen (or some other power to fuel conversion) on site.

Also the article doesn't say that electricity generated by geothermal energy is hard to distribute and would be otherwise wasted. Over a quarter of their electricity already comes from geothermal (volcanoes). El Salvador just wants to make money (which makes kind of sense in a globalized capitalistic world).

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 * Origin: 1995| Invention of the Cookie. The End. (21:3/102)

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