Although itself and its use and consumption are virtual, cryptocurrencies are often at the center of criticism due to their production conditions. The production of cryptocurrencies is seen as dangerous for the future of resources in the world due to energy consumption, carbon footprint, and environmental damage. Iran has blamed cryptocurrency miners for power outages. China has declared war on cryptocurrencies for similar reasons. As a matter of fact, studies show that there is a harm in this direction.
According to a study by economists from the Massachusetts Institute of Technology (MIT), it was determined that a single Bitcoin transaction produces the same amount of electronic waste as throwing two iPhones away, and experts said that about 33,800 tons of electronic garbage is produced annually. The country of El Salvador, located in Central America, has recently started Bitcoin mining with volcanic energy by trying a different method. The President of El Salvador, Nayib Bukele, announced the amount of dollars that they produce in Bitcoin with volcanic energy, which is somewhat funny, somewhat interesting.
Here is that fascinating amount:
Some people commented that El Salvador started mining Bitcoin with this production technique as “it is on the way to becoming the richest country in the world”. El Salvador President Nayib Bukele announced that they have generated a total of $269 in Bitcoin using geothermal power from volcanoes. Time will tell if this is a start or if dreams of becoming the richest country in the world end before they begin.
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