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Board Bitcoin Discussion
Merits 1 from 1 user
Re: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻
by
tvbcof
on 17/01/2025, 18:56:30 UTC
⭐ Merited by JayJuanGee (1)

Recently I've heard rumblings from El Salvador about 'a miner in every home'.

I would presume that what's in mind would be something along the lines of this:

  https://www.youtube.com/watch?v=POUT2R_opDs

Obviously nobody is going to 'make any money' with such a thing (absent certain incentives.)

The real value of such a solution would be ready-to-go distributed infrastructure which was at least modestly understood by the populous.  Such infrastructure could be readily convertible to solve a wide range or problems including forming the basis for a country-wide communications solution which did not rely on 'the internet' as we know it today.

It could also be the basis of other methods of exchange if for some reason the existing options (USD, Bitcoin, etc) become dysfunctional in some undesirable ways.

(It could also be the basis for citizens to have a _real_ and _functional_ stake in the countries much advertized 'Bitcoin Reserve' making a rug-pull less likely.  People would learn that they actually can be 'self-custodial' through various means in the 'crypto-space' of today.)

At scale, devices such as the above should be able to be made for perhaps $10.00 I would think.  The government just paid for 95% of people's power and water bills for the month up to $30.00 or some such, so it would be eminently practical to just give such devices to any household who wanted one.  And/or whoever wanted to run one as a service either because they agreed that the system could be helpful for the country or they wanted to avail of whatever perks might go along with it (lottery, utility discounts, whatever.)

I believe that there is a genuine negativity toward Bitcoin on the street in El Salvador.  I've come to believe that this is in large part a result of a dedicated effort on the part of 'mainstream media' who are very much in service to the controllers of the 'collective west' (basically the USD-backed financial concerns) and oligarchical local classes which pretty much every country has.  If more people had hands-on experience participating in the machinery of operation they would probably develop a much higher degree of discernment in terms of information intake.  The fallout would probably be good for some and bad for others.  Traditionally leaderships tend to want a complaint and manageable population to 'govern' over.