Paolo Ardoino:  Fun Friday through. Altcoin maxis: Bitcoin is so dead!! There is no use case for it! Actual real nations: hold my beer, while I boot a volcano mining rig.

Liguria might need to start planning for Basil powered mining. Jokes aside what El Salvador did is a wake-up call for many. Use the renewable resources your territory offers. Mine Bitcoin and reinvest in your region.

Just saying. I’m eyeing Etna volcano in Sicily. Wondering if someone could raise capital via a STO to bootstrap Bitcoin mining operations. Damn only if there was a fully-fledged STO platform coming up later this year.

Community Users were Like:  Please have a look at the Potential of Geothermal Energy for Bitcoin Mining in the Philippines.  There are about 300 volcanoes in the Philippines. Twenty-two of these are active while the larger percentage remains dormant on the record.  The majority of the active volcanoes are located in the island of Luzon.  The six most active volcanoes are Mayon, Hibok-Hibok, Pinatubo, Taal, Kantaon, and Bulusam.

Yet another user was like I’m right next to Pinatubo.

Just to put things into perspective: if 1 good volcanic well gets 95MW (avg well gets only 4MW), then Bitcoin needs 1.1 million volanic wells to run per year. And the geothermal industry is 13GW worldwide, so it needs to expand by 8400x to meet BTC’s energy needs.

One of the user stated the Bitcoin network does not need any certain amount of electricity to function. If 50% of the miners stopped mining right now, the network would continue to function as normal.

Someone clarified stating, well that’s not true, the network will experience 20 min block times fees and transactions backlogs will go through the roof and the difficulty retargeting will take twice as much to arrive. So losing 50% hashrate is quite a (temporal) shock.

Others were like, No, it wouldn’t. Security would still be plenty sufficient. Fees and difficulty would rebalance after a week or so.

Some believe that soon enough there will be a nation state attack on Bitcoin, harsh restrictions, and bans on possession and trading. When can we expect a fully decentralized exchange that supports LN deposits and withdraws with the liquidity of Finex?

Others were trying to point to how the Ethiopian Education Minister confirmed blockchain partnership.  Several countries have approved blockchain technology for different user cases. VeChain is a lot in to supply chain.  So, blockchain and cryptocurrency establishing well towards the future.