This Volcano-Powered 'Bitcoin City' is Coming to El Salvador
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- Опубликовано: 24 авг 2024
- The country is doubling down on its Bitcoin gamble in some style. But will it pay off?
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Son: "Dad, can I borrow 10 Bitcoin?"
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😂
This comment has aged well. ☝️😂
R & D on geothermal is a good thing. Also don't have a problem with encouraging crypto. But designing an entire city to look like an object rather than to fit in with the local landscape systems is - asking for problems.
It is not even a city the scale of that thing is bigger than Dallas/Fort Worth based on the pictures. An impressive feat and I hope they already own the land.
Bitcoin city looks so creative and unique.
Tell that to San Francisco.
Every major city in the world would like to talk to you.
@@Ibian666 yeah, you're not wrong, sigh.
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This thing sounds something you would do when you have everything way too good and you’re bored. El Salvador isn’t exactly like that so this sounds like a disaster
Maybe this is the right way for El Salvador. They are using the dollar which they have no control of either and as you said, the country is not in a good state
The volcano power is a good idea. The rest of the city is ehhhhhhh. Probably useless. Also wtf why do people design cities so they look like something from space. You realise that 99.9% of people will never notice it looks like a coin, and the design is only gonna make residents suffer more
@@helicopterjoe3673 They have no control over the dollar so they're going to switch to BTC that can drop in value by like 50% in a month? Lmao
@@akalion213 True, but everyone who held btc 4 years plus has made profit. This is a long shot. We will see how this plays out, if btc is the future of money, they will be celebrated. 🤷♂️Who knows what the future brings
@@helicopterjoe3673 BTC sucks ass. Even if somehow crypto becomes a real thing BTC will be long forgotten by then
What could possibly go wrong!!
Absolutely nothing. El Salvador has a great history of peace and innovation and volcanoes never hurt anybody.
simple, more volcanic activity = more bitcoins. Get long on volcanos you won't regret it. /s
I mean, if they use enough energy, they could actively cool the volcano down and keep it from erupting that way... Salvadorans, mine for your lives! ;D
It's revolutionary. Smart AF actually.
That the U.S . Doesn’t like it and invade us like they did with Libya, but they are busy with Russia for now.
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Many people I have talked to who are from El Salvador are very optimistic about what's going on there. Fingers crossed that it works and helps lift people out of poverty.
Nice video, but the new city concept seems flawed and generally just a bad idea. If they'd stopped at just getting electricity from the volcano I could get behind it, but relying on Bitcoin at a national level is just not my thing.
Yeah, even using this for carbon capture would be a better business strategy. Bitcoin is an insane thought of a currency, it's a stock.
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3:40 - In Iceland there's excess hot water, leading citizens to open windows in the Winter... Geothermals are great.
It's also much more efficient in Iceland because it's much colder.
Where it's easy to access. Why do you think 99.9% of the world doesn't use it? It would be the most expensive energy they can create.
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I find it nice that this city would be powered by geothermal energy.
New Zealand electricity is 17% geothermal. Been doing since the 50's. seems this video wasn't well researched
@@vancouverbarista being done in El Salvador since the 80's and it covers the 30% of the energy demand of the country.
Lol the 'volcano-powered' aspect is basically the least outlandish part of this plan, and I find that hilarious
Basically all of iceland is powered this way so its not outlandish at all is it. And theyre power is relatively extremely cheap while environmentally friendly.
El salvador has many dormant/active volcanoes that the only reason they dont have geothermal electrical sources, is because the country has been stuck in poverty for so long. If this brings change to el salvador, im all in. Lets not forget, saudi arabia wants to make a line of a city.
Edit: as ive been told by many people already, El Salvador already has geothermal plants in use. And others planned for future. I am not deleting what i wrote so the people who read this can be informed with the people who know down in the comments. Btw im from El Salvador but i was raised in usa since 6 years of age, so i dont know much of my home country. But one thing i do know is that i am proud of how my country has gotten so much better, thanks to bukele amd the people supporting him.
they were only stuck in poverty because previous governments have ransacked its riches, ......corruption.... which is why the senate got rid of those judges mentioned in this video, they were corrupt, from the previous corrupt government.
El salvador has geothermal plants, built decades and decades ago, they do have geothermal electricity, wtf are you on about?
@@robertoh.20 sorry man i dont live in El salvador so i didnt fucking know.
@@ForgedTony so if you don't fucking know,no comment ok.
Ed, El Salvador already has 3 geothermal plants producing 30% of its energy, furthermore El Salvador was the leader in geothermal energy, being the first in the region to do so since the 1970’s.
That city Is going to age well like MySpace
Ok genius
When a whole nation is addicted to crypto.....
Admittedly, it's not a huge nation. There are cities larger than El Salvador (in terms of population).
Clean power using volcanoes? Cool! Clean power using volcanoes solely for the purpose of mining bitcoins? No thank you. There’s something seriously wrong with the “Proof of work” concept. In an era where every gram CO2 is too much, having this proof of work system in place for the largest cryptocurrency feels exceptionally ludicrous.
Until BTC is not the largest cryptocurrency and gets outdated by better performing, better functionality & better environmentally friendly coins like Ethereum. This will happen. It is just a matter of time.
Its not solely for mining, did you not pay attention?Also its better than using fossile fuels for it
@@Alex-pj8vg Ethereum still is proof of work. Even when it goes to proof of stake, it will still be consuming energy that gets wasted, just less than proof of work.
@@Alex-pj8vg folks have been saying that for like 6 years, but even the proof of stake isn’t activated on Etherium yet… so currently that’s just an expression of faith that someone eventually will make a successful competing chain rather than just cloning Bitcoin’s chain which is cheap and which is what everyone does. If there were other such chains growing and approaching critical mass I might believe you that it’s inevitable, but currently that isn’t even close to happening so… expression of faith.
You’re exhaling Co2 every second of the day should we stop having kids you’re using energy like every one else producing more and more Co2 it’s just a fact of life we use energy that produces Co2 we have options to use nuclear but that to is something you probably reject we can’t run the world on wind and solar and unfortunately people are not willing to stop livening there life’s
The energy debate around bitcoin is ludicrous for one bitcoin can use taped energy that would otherwise go waste its using more and more green energy with each year in fact bitcoin is incentivising in green energy and driving costs down for everyone
There is more benefit to bitcoin and what it can give to humanity it’s worth the energy every bit of it
The vulcano powerplant is an amazing way to gain green energy. I think that if they will build a lot of them in there country they must be able to sell the surplus to other countries. They can also make a lot of money with selling there carbon certificates.
I don't believe in there bitcoin strategy, but this is a great opportunity for the country to become independent of others
We have 170 volcanoes 🌋. you can built thousands of clean energy power plants around a single volcano 🌋 enough to power all of Central America and South America. We will start running power cables to other countries.
Sadly, they will use it for bitcoin mining
It is just a matter of profit. If mining Bitcoin is more profitable than selling electricity then they will go with that route but if mining Bitcoin is not profitable they can pivot to selling electricity. No matter what they have a market for all the electricity generation they are building. The plan is actually very robust and the Bitcoin angle is there to generate hype design to capture foreign investment.
@@Cooleatack you can do both
@@kazedcat why not do both and have two different revenue streams to expand faster
I can't laugh too hard at the volcano bit because I like Klamath Falls and their use of geothermals from volcanic activity. Might be interesting to see that more used. The bitcoin stuff and the idea that the city would ever look anything like that has me laughing tho
Bitcoin is real money unlike the US dollar
They could make good money with Bitcoin money laundering so his plans don't sound that dumb
Its part of the Circus promoted by Bukele as a means to make the Donkeys that voted for him happy.
After all, a City like this will only be welcoming to the affluent people of El Salvador and the majority (Donkeys), will be the servants to those people.
🤣🤣🤣🤣🤣
It is not dumb in fact it is very clever. If mining Bitcoin is not profitable they can just sell electricity instead. They are just dressing up their infrastructure plan with Bitcoin hype to attract investors.
I agree, the mean idea is bit interesting, but the creation of a new city, when you already have many other cities that need reinvestments and develepment, is just nonsense, even more creating a city with the form of a bitcoin… just stupid as fuck.
If any of these ideas are successful, this could lead to El salvador breaking free from the long shadow of US control, and to the creation of new business opportunities for them. Good luck I really hope they succeed.
What control does the US have over El Salvador?
@@beaumershon3066 Currency. Salvador used to have their own currency but they printed so much of it that it lost all its value so people started using US dollars as currency. That means that inflation in US affects the economy in El Salvador for example. Its good to have currency independence from another government unless they benefit you, like the euro, countries that dont benefit that much from the EU besides free trade still have their own currency.
@@shikov111 how is that US's fault if they printed their own currency so much that it lost value; lmao and imagine being stupid enough to use something as dumb and inefficient as bitcoin
@@beaumershon3066 Not saying this will work out but i hope so. Salvadorians deserve it
@@beaumershon3066 The US has control over almost all of central American through private enterprises. Not sure what N.Korean Defector was getting at.
Yeah... that sounds like a project that's never gonna finish. Volcano powered city is a cool idea though
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Best of luck to El Salvador and its citizens if they can pull this off. Incredibly risky (the volcano power is actually the most sensible part of the proposal) but I’m not going to knock it either as I believe Bitcoin has a future as a currency but it’s still early days. The shape of the city shouldn’t be an issue if it’s well designed, ie. not making it a concrete jungle that can only be traversed by car with restrictive zoning laws.
I'm really hoping they invest in public transit, like with the lightrail they mentioned.
I am also cheering for this project and that it prosper and pray for the safety and security for the law-abiding citizens of El Savador.
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El Presidente needs to lay off the bam bam.
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New Zealand electricity is 17% geothermal. Been doing since 1958. Its a pretty well established technology, just few applicable regions. It also emits Co2 from natural sources depending on the design
yea, I'm salvadorean, and geothermal power isn't a salvadorean thing........it's been used for decades and decades.
@@robertoh.20
Soy Chileno, nosotros en Chile tenermos muchos volvanes tambien, pero no lo que El Salvador quiere hacer con Bitcoin city es algo super, mis respetos a ese gobierno progresista que tiene ES
@@22ndlan28 Definitivamente nada progresista, nosotros los Salvadoreños jamás vamos apoyar esa ideologías, Sin embargo, el presidente Bukele ha traído buenas ideas, y el escucha al pueblo. Somos un país conservativo.
Iceland is powered pretty much all by geothermal energy and those who aren't are off grid / unable to connect to mains, geothermal is a great resource that more countries need to invest in
Put bitcoin mining rigs there, they can earn tons of money due to low electric cost, help securing the bitcoin network and give middle finger to IMF and its dollar empire that keep inflation at its core
IS ALREADY HAPPENING..........LONG LIVE EL SALVADOR
This was the crypto version of Fyre Festival 😂😂
Just have baked beans on toast everyday that'll give you cheap volcanic power.
1:47
the raver, the fundamental physicist, lover of geometry and order, web developer, architecture enthusiast, and city planning enthusiast in me all nerdgasmed at once.
This sounds like something straight up from a parody movie of some sort lmao
The video title sounds like it was generated by an A.I.
How high was this guy when he came up with this ?
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El Salvador 🇸🇻 paving the way for crypto currency
Paving the way for Bitcoin
Je déménage au El Salvador 🇸🇻
Big love du Québec ⚜️⚜️⚜️
Is he thinking that he is a super star?
i mean, he looks more like a rapper than a president
He is the best leader unlike sleepy joe
the bitcoin "city" is the next Pompeii !!!! for sure
4:18 was so funny and awesome
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It’s hilarious to see these videos now that it’s clear Bukele is a fake.
Well, why put it next to a Volcano? Get the Geothermal Plant going and transport the energy? This feels more like a dictator trying to be hip and cool
''I don't really know what i just said'' hilarious line !
if they actually end up making the city, i hope it will be pedestrian friendly. not like the american cities filed with concrete parking lots, highways, cars, etc
Bitcoin?
Why do I hear the sound of a train wreck?
This is the worst idea ever :) Can't wait to see this happen
Don't hold your breath mate, that's some hardcore fantasy out there.
I'm making money using My Chivo Wallet. No worries.
Most of El Salvador is in volcanic land. 170 volcanos in total. 23 still active. 30% of El Salvador’s energy is powered by INACTIVE volcanos. The new geothermal power plan for bitcoin city will be in an inactive volcano (they all are). Do some research and say the facts please.
"will be" lol, don't use that kind of words on a clearly imaginary project.
Correction, 170 volcanos, only 23 visibles and 4 actives
Geothermal has been used for 120 years. Hardly an experimental endeavour. I suggest you check how the country economic figures are doing since the btc move.
New Zealand has been sourcing thermal for decades as a power source. Not really new is it or experimental.
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Why the fuck. Can't wait for this shit train to fall off already. Sad that El Salvador will fall with it.
A pet hospital was built from bitcoin earnings in el Salvador. Any service cost .25 cents when you use your chivo wallet.
This is the solar roadways of cities. Literally none of this shit will happen.
i appreciate the subtle sarcastic roast of this dumpster fire of a country and the unbelievable ineptitude of its government
So heating a giant unground hotdog will give Bitcoin City energy independence? Someone put something in my coffee this morning…
Bitcoin, SHIBA, ELON 😎👍👍👍
Brilliant. Wake up world
Naples is not much farther to the Vesuvius than Pompeii was. And 3 million people live there.
The 0% tax rate doesn't make sense - how are they going to pay for the schools, hospitals, police, fire service, etc? I guess citizens who don't live in Bitcoin City will be subsidizing those that do live there.
😅🤣 4:21 yeas even I didnt have a clue on what you were saying ahahah
Pompeii has left the chat.
A good video on how a country is deciding to build an entire city centered around digital currency is tainted by bots pretending to be real people advertising fake and often at times malicious Crypto Currency Advisors 🙄💀
That title sounds so clickbaity 😂😂
But it's true
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4:20 had me good
It's volatility has literally NOTHING to do with not having cash. Dude, this is so poorly researched it is amazing.
Could’ve colonized and terraformed the volcano instead smh
"Hasn't been done anywhere else"
Iceland: "hello?"
Thanks Fred, this is your first video to give me a migraine.
I don't think Bitcoin is a good idea but I certainly hope that the construction helps the people of El Salvador and makes their lives better. It's the 5th poorest country in North America. Best of luck to them. 🎲
The global financial system is collapsing from years of being abused by governments war and selfish greed I don’t think Fiat Currency is a good idea I don’t like having my hard earned savings being eating away due to inflation or paying more and more for everyday items owing a home is becoming a dream for more and more people life is getting more expensive for the average person even in rich countries
You don’t think bitcoin is a good idea because maybe you don’t understand what it is or what it can offer
People in El Salvador don’t have control over there monetary policy or money supply because they use the US Dollar there poor because they can’t export goods and services it’s to expensive and they don’t have access to bank accounts or financial services bitcoin gives the people a way to bank themselves but can also be used to build an economy in poorer countries
Put simply bitcoin incorruptible money and you’d be a fool to think it’s a bad idea
It was
Why don't you think it's a good idea?
in central america not north
@@sanmiguelitobello4284 Thank You 👍
All of this is the dumbest thing I've ever seen. Except for using volcanos as a power plant, that ironically is the most sensible thing here, and its even cool that they are leveraging that cheap clean power in creative ways - such as by mining cypto.
Bitcoin has lately been fluctuating more than 1% in 5 mins, and 5% in an hour. Its currently worth HALF the USD it was when this video was made 4 months ago.
How anyone can responsibly think this can be used as an actual currency amazes me. But the backwards baseball cap was a red flag from the start.
I think that president also built the monorail in Springfield no?
Lmaooo :D
An NFT gallery lmao, that's the dumbest thing I've heard in a while
Can you make a video explaining how beginners can make huge profits within a short period of time? I mean I was at a seminar and the host spoke about making well over $880,000 within 4 months of investing $150,000 I just need to know how
I recently started my trading with Mrs Annabelle Hartfield, and I'm already marveling over the profits she made for me, assuming I met her on time I would've been a millionaire by now
@@lawrencepeter4390 Same here, I wish I knew about Mrs Annabelle , earlier I would've been a millionaire by now and even started trading on my own, cause she also teaches her investors how to predict and trend on their own and also gives access for them to see and monitor their trades in other for them to understand how it works...
it's great to see others who also benefits from the service of mrs Annabelle I’m currently on my 5th trade with her and it's a nice experience working with her👍
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Make it stop.
Without even having a second thought, I see Crypto as an asset one can gladly hold forever even meeting the next generation. We should invest and hold it tightly...
Despite the present state of the economy I've been making huge profits trading with Shirley, I earn up to $8,231 returns from my little investment of $1,700k every 17days...
There is no doubt in mind that Crypto is not only going wild but also exploding the world like a nuclear weapon being lunched.. It's boom...
Same hear, I make $4,000 every 9days trading with expert Shirley Wilson, her strategies of investing and trading are top notch. She really made herself a top account manager.....
Lol!!!
For sure she is a wonderful person and a very good trader.. 💎What baffled me the most is how she collected her discount covering the trade she did for me, just 5% of the total profit she made for me... That's so shocking and loving at the same time.......
So nice knowing a wonderful person as this, her kind seems very rear.
Unlike my initial trader James, a very mean and can't even understand his signal.
Maybe all the people walking on caravans to the north turn back and building this great idea
That’s the idea.
This is insanity! Bitcoin is going to die
Why did Pompeii come in my mind watching this city..
Could be the similar topography
>Pay with bitcoin
>The $4.5 coffee is now $2.5
Please post more videos
I've been to the GEO Thermal plant. Seen everything and work in Berlin, san Salvedor, and throughout the country. .. Nayib has done an amazing job!!
Praying for Pompeii
learning:
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So they are zoning exclusive housing areas? Very intelligent. Way to go 👏🏼
I commend El Salvador's attempt. With the adoption of the U.S. dollar in 2001, El Salvador lost control over monetary policy. Their move to Bitcoin, make them somewhat independent of dollar inflation. In 5 years we will know if it was a smart move or not, but Bitcoin's track record has been pretty great since it has been invented.
Also, generating electricity from Geothermal is not that crazy. Iceland has been doing it for years and 25% of their electricity comes from "Vulcanos".
Bitcoin is far too volatile and deflationary for it to make sense as a currency.
@@birdrocket Could he volatility do with how even though its well known, is not widespread? Could more countries using, cities, could that create stability?
@@birdrocket Tell that to Turkey, Argentina, Venezuela, Zimbabwe, etc. It's better than a lot of other currencies, plus it's perfect for remittances, on which El Salvador's economy depends quite a lot. Again, we'll see in 5 years.
I mean, they still don't have control over their monetary policy. With the difference that now, nobody has. And yes, I do own Bitcoin. I'm just saying that central banks have a reason to exist.
@@flyingpanhandle sure, maybe. That still doesn’t solve the other problems inherent with Bitcoin as a currency.
There is a finite amount of Bitcoin, which means the value of one Bitcoin will only go up over time as more people try to use the limited supply. That is a good thing for investments, but it’s bad as a currency. If your currency is going to be worth more tomorrow, you’re losing money by spending it today.
Bitcoin is also extremely difficult to scale up. It can currently only handle around 7 transactions per second due to the constraints of the technology. Visa alone processes on average ~6000 transactions per second. Bitcoin simply cannot scale as a worldwide currency for this reason. The limited transaction slots that can occur are bid on, so it may cost you hundreds of dollars just in order to be able to make a payment.
There’s also really no way for Bitcoin (or any crypto currency) to protect against fraud, due to the read-only ledger design of blockchain. If your BTC is taken from you, you usually have absolutely no way to rectify it.
El Salvador is going to default before this is even close to being built. Bukele is a clown
Thanks for that report from my country 🇸🇻👍
I don't see the problem, btc will go up by the end of the year 100% sure ( I already bought land near where the city will be😉)
No one can stop Bitcoin.
🌜🔭🌎🌠🌌Common sense 🪧conspiracy therapy 🗿🌱
The things I dislike about this most is that the city's name is just "Bitcoin City" and the bitcoin symbol in the center of the city it's just so tacky
I didn't know that guy was a dictator... yikes. Explains how he was able to get this stuff through though.