Pomp Expressed:  There was just over $3 million in remittances reported for El Salvador’s Chivo bitcoin wallet yesterday. This is more than $1.1 billion annualized or 4.5% the country’s GDP.

Community response:  The % of that $3 million that would have been lost to fees through other remittance services but instead is now in the pockets of the friends and families on the receiving end and in turn in the El Salv economy is a major win.

You can’t simply annualize it by multiplying by 365. Yesterday was payday for a lot of people who then likely sent money back home. I could be wrong but I’m assuming yesterday was a surge and doubtful 3m is close to a daily number.

Be the change you want to see in the world. Own Bitcoin. No fiat – support only companies, where you can be sure they don’t abuse power – be loving and kind to other humans, we are all in the same boat, every human has the same value.

Can anyone tell me why BTC is so popular? As I see it is only worth the value which is agreed between buyer and seller, like a piece of art. BTC uses a lot of energy & has very slow transaction time. I compare with other coins where there is a serious and useful project behind.

A networks value is made by the number of people who use it. Myspace is worth nothing but Facebook is worth billions. But unlike Myspace and Facebook bitcoin is more secure because of the number of people who use it. Which in the world of transacting money security is most important.

Meanwhile, computers are in to energy intensive Bitcoin mining and this has been a matter of criticism among environmentalists.

El Salvador being the first adopter of Bitcoin are now empowered by volcanoes as a new stream of energy.

Daniel Alvarez, president of the state-run Lempa River Hydroelectric Executive Commission (CEL), stated that El Salvador has the potential to generate electricity using hydroelectric, solar, wind and tidal power projects. He also pointed to how the possibilities are endless.

Reportedly, Lempa River plant generates nearly 102 megawatts.  The government is planning to add another five megawatts in 2022. At present, 1.5 megawatts have been allocated for bitcoin.

Alongside the plant, officials have set up a room inside a shipping container to home 300 computers which processes cryptocurrency transactions. The Tecapa plant in combination with another geothermal plant in North Western El Salvador supplies between 23% and 24% of the national power grid per authorities.

El Salvador is continuing to rock.