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[Rogerdodger]

Today's Bitcoin news:

 

El Salvador Bitcoin Protests
Retirees in El Salvador protest against Bitcoin adoption

IMF warns nations against adopting crypto assets as legal currency.
 

[Rogerdodger]

Skepticism grows in El Salvador over pioneering Bitcoin gamble...

 

Litha María de Los Angeles slaps two cheese-filled pupusas – the El Salvadoran cornmeal flatbread – on the griddle. With a camera click on the QR code, she receives her payment: four hundred-thousandths of a Bitcoin. Then, as the rain pelts the corrugated iron roof and a gust of wind lifts the blue plastic table cloths, the power cuts out.
A tumultuous few weeks awaits El Salvador as it prepares to become the first country to adopt Bitcoin, the world’s most popular decentralised digital currency, as legal tender on 7 September. With that deadline looming, a host of challenges – technological, financial and criminal – threaten to sink the plan of the president, Nayib Bukele, to ride the Central American economy out of its current choppy waters on the back of a cryptocurrency wave.

 

“The law was adopted extremely quickly, without a technical study or a public debate,” says Ricardo Castañeda, a local economist. “I don’t think the president has fully understood the implications of the law, its potential to cause serious macroeconomic problems and convert the country into a haven for money laundering.”

Edited by Rogerdodger, 31 August 2021 - 10:14 PM.

[Rogerdodger]

Shocking news:

 

Bitcoin Uses More Electricity Than Many Countries...

Data from the University of Cambridge’s Bitcoin Electricity Consumption Index shows that the Bitcoin network now consumes a whopping 142.59 terawatt-hours (TWh) of electricity each year, a figure that is higher than many countries.

 

Meanwhile...

 

Lake Mead level continues to drop, affecting power production

 

Major California hydroelectric plant forced to shut down

 

Tesla's Elon Musk follows 687,626 Californians who moved to Texas

Edited by Rogerdodger, 03 September 2021 - 08:52 AM.