Former Colombian presidential candidate: "Resources should be used for Bitcoin mining rather than cocaine production"

A prominent senator and former presidential candidate in Colombia recommended that the nation need to seek out inspiration in El Salvador and mine Bitcoin with renewable power as a substitute of making cocaine.

Former Colombian presidential candidate: "The resources should be used for Bitcoin mining rather than cocaine production" — Former Colombian presidential candidate: “Resources should be used to mine Bitcoin instead of producing cocaine”

Colombi senator Gustavo Petro retweeted the story of El Salvador President Nayib Bukele on his private webpage by announcing that the nation had begun mining Bitcoin with volcanic power.

Y that this kind of that the pacific coast aprovechara the caídas de substantial slope of the rios of the western cordillera to develop toda the power of the littoral and reemplazar cocaína with the power for the cryptomonedas?

Virtual currency is pure info and a whole lot of power. https://t.co/65xdN2whuO

– Gustavo Petro (@petrogustavo) October 2, 2021

“What if on the Pacific coast we exploited the slopes of the rivers in the western mountains to instead produce all the energy of the coast for the extraction of cryptocurrencies? For cocaine?”

– See much more: El Salvador has started off volcanic mining of Bitcoin

Bitcoin mining is the method of applying highly effective personal computers to confirm transactions on the blockchain and produce BTC. However, this strategy utilizes a whole lot of power, so miners are now seeking for cleaner power sources to change the manufacturing method.

Perhaps Petro is referring to Colombia’s probable for renewable power use on the Pacific coast. Energy policy analyst Wesley Tomaselli mentioned the Petro is correct that Colombia has excellent probable for mining Bitcoin since about 3-quarters of the country’s electrical power comes from hydroelectricity. However, it will be a substantial obstacle if Colombia needs to apply the notion.

“The issue is that Petro seems to want to promote BTC by means of mining as an option model for the nation’s coca expanding and cocaine shipments. This is not possible, except if Petro has a magic wand.

Colombia is the world’s biggest producer of cocaine, in accordance to the United Nations. And the country’s Pacific coast is household to a whole lot of coca, the drug’s most important ingredient. Furthermore, the Pacific coast is also a probable hotspot for renewable power. Colombia’s rugged Andean geography and river technique make the nation a appropriate place for hydroelectric energy generation.