El Salvador bitcoin mining
El Salvador Mined 474 #Bitcoin from their Volcano
But this is a much bigger story than it seems...
as I often say, it's always Technology that changes the world, and once again it's happening.
Through thousands of years of history, the nations with the most resources have benefited...
water, land, gold, oil...
And having the resources and access to these resources has shaped the world that we know today.
But many nations around the world have no real natural resources in high demand around the world, like El Salvador whose top exports are:
- knitted sweaters, pullovers, vests, t-shirts
- packaging materials
- cane/beet sugar
- toilet paper and other sanitary papers
- Coffee
but now... they have something in high demand
you see, El Salvador has a volcano, but so what, what do you do with a Volcano?
well, geothermal electricity comes to mind, the problem is, that you don't want to live near a volcano and you can't transmit electricity very far.
But what you can do is turn a natural resource like a volcano which doesn't have a lot of use, and mine bitcoin which is a valuable commodity.
So why is this such a big story?
The Ring of Fire, also known as the Circum-Pacific Belt, has between 750 and 915 active or dormant volcanoes, which is about two-thirds of the world's total.
These small nation-states around these volcanos like El Salvador have no real "high value" exports, but that's all changing.
Now with the model El Salvador has laid out and the invention of Starlink Internet,
these small island chains have a model to build wealth for their country, and their people, and decentralize and distribute wealth generation to parts of the world that have had nothing.
It's going to be interesting to see how the world's balance of power changes over the next 30 years,
let's watch!