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❕NEWS El Salvador has unveiled a replica of a Bitcoin mining farm under construction in the country

faribakhazaei

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El Salvador President Najib Abu Quilla shared on Twitter a replica of a Bitcoin mining farm project powered by one of the country's volcanoes and currently under construction. "The clean hash rate is coming to El Salvador soon," he wrote in a caption. With this news and some others like it seems governments mostly in developing countries try to find a way to grow their economy and solve the issues related. What do you think?
 
The government isn't joking with the use of Bitcoin. They are trying to bring in all that will take to boost their economy. I believe they are on the right path with Bitcoin
 
This is the way. They will be self sufficient soon .this government is quite smart.. i hope everything goes well with them as they will be the model of what other countries may do in the future
 
El Salvador President Najib Abu Quilla shared on Twitter a replica of a Bitcoin mining farm project powered by one of the country's volcanoes and currently under construction. "The clean hash rate is coming to El Salvador soon," he wrote in a caption. With this news and some others like it seems governments mostly in developing countries try to find a way to grow their economy and solve the issues related. What do you think?
Using what you have to get what you want,I heard they have been able to mine 300 dollars so far using volcano,this is just one way,with their determination they will produce more.
 
It's a good development ,I am glad the government is actually taking that move of practicing clean energy system for Bitcoin mining ,atleast it's good for the environment
 
El Salvador President Najib Abu Quilla shared on Twitter a replica of a Bitcoin mining farm project powered by one of the country's volcanoes and currently under construction. "The clean hash rate is coming to El Salvador soon," he wrote in a caption. With this news and some others like it seems governments mostly in developing countries try to find a way to grow their economy and solve the issues related. What do you think?
Well thats great ... but you know why this is a replica? Because like everyone else on this beautiful planet, El Salvador is suffering from crumpled supply chains. No GPUs no mining, NO FPGAs no mining.... but adorable replicas :Laugh:
 
The government isn't joking with the use of Bitcoin. They are trying to bring in all that will take to boost their economy. I believe they are on the right path with Bitcoin
I agree with you on this. The country has taken bitcoin seriously that a portion of it's budget has been used to proposfully mine bitcoin with the least environmental impact.
 
Earlier El Salvador's legal currency was only the dollar, but they recently adopted bitcoin as their currency. By setting up a mining project they are making sure that by now know that the decision of adopting bitcoin as a legal currency was no joke for them and they are pretty serious about it. They would do everything possible to make it a great success.
 
The president of El Salvador wants to make the country a Bitcoin city and this is why he is busy carrying out different projects that will promote the use of Bitcoin wallet in the country. I only hope that they use green energy for the Bitcoin farm so as not to disrupt the environmental health of their country.
 
That is so awesome of El Salvador to create a replica of the Bitcoin mining firm. What is most awesome is that they are using green energy to mine the Bitcoin. Which means that the effects of the mining will not be too negative as seen in most other countries that don't use green energy. More countries should adopt such mining methods.
 
It's a good development ,I am glad the government is actually taking that move of practicing clean energy system for Bitcoin mining ,atleast it's good for the environment

Well, I am sure that such kind of development is just not helping the El Salvador government right now as the prices have gown down badly. I am not at all surprised to see that Bitcoin's value plunged as people are now investing in other kind of assets and liquidated their cryptocurrency assets in a massive manner. This has caused a lots of loss to El Salvador.
 
Well, I am sure that such kind of development is just not helping the El Salvador government right now as the prices have gown down badly. I am not at all surprised to see that Bitcoin's value plunged as people are now investing in other kind of assets and liquidated their cryptocurrency assets in a massive manner. This has caused a lots of loss to El Salvador.
currently things are getting worse , because of the huge drop in cryptocurrency prices ,I guess elsavador that first invested in cryptocurrency now would have imagined they had patient and not invest so much , cryptocurrency comes with so much risk
 
currently things are getting worse , because of the huge drop in cryptocurrency prices ,I guess elsavador that first invested in cryptocurrency now would have imagined they had patient and not invest so much , cryptocurrency comes with so much risk

I think that things could get slightly better for short-term traders if Bitcoin shows support at the $20,000 price range. This is what is happening right now. However, many coin holders like El Salvador that invested money initially are in big trouble. I might also say that El Salvador was quite unlucky because it invested money at the wrong time.
 
Well, I am sure that such kind of development is just not helping the El Salvador government right now as the prices have gown down badly. I am not at all surprised to see that Bitcoin's value plunged as people are now investing in other kind of assets and liquidated their cryptocurrency assets in a massive manner. This has caused a lots of loss to El Salvador.
That is so unfortunate for El Salvador. The current state of the cryptocurrency market must be affecting them so much. But I am sure that things will change with time and there will be price rise for Bitcoin. It is great for people to be flexible and adopt all cryptocurrencies that are safe, not just concentrate on Bitcoin.
 
That is so unfortunate for El Salvador. The current state of the cryptocurrency market must be affecting them so much. But I am sure that things will change with time and there will be price rise for Bitcoin. It is great for people to be flexible and adopt all cryptocurrencies that are safe, not just concentrate on Bitcoin.

Indeed, El Salvador might be regretting its decision, but the good thing is that the country does not rely solely on Bitcoin as it also utilizes its natural resources in order to run and manage its economy. According to Julio Sevilla, the country has invested a limited amount of its capital in Bitcoin and it seems like it may not make El Salvador go bankrupt. This is what he stated while speaking to NPR News.
 

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