The man who introduced Bitcoin as legal tender to the first country in the world is also a bit of a whizz on the economics of energy...follow him 'educating' one misguided distractor. Tweetstorms...priceless!

Nayib Bukele 🇸🇻 (@nayibbukele)
Ok, ID-10t, I’m going to school you again, not because it’s going to be of use for you, since you’re just getting paid to attack #Bitcoin and defend fiat, but because the people deserve to know you are a fraud.

Ok, ID-10t, I’m going to school you again, not because it’s going to be of use for you, since you’re just getting paid to attack #Bitcoin and defend fiat, but because the people deserve to know you are a fraud.

Steve Hanke (@steve_hanke)
How much energy can you extract from the inactive Conchagua volcano? Where’s the feasibility study? El Salvador already has an enormous energy deficit & imports 22% of its electricity use (@IEA). Without a feasibility study, no one knows how Bitcoin City will affect this deficit.

El Salvador doesn’t have an energy deficit, in fact, we can produce twice the energy that we consume. Maximum energy consumption in El Salvador is 1,030 MW, while the installed capacity is able to produce 2,065.79 MW from this sources: *“Ingenios” is waste from sugar cane.

The reason we still import energy is because we are part of a regional open market (crie.org.gt/mer/) and energy producers in other countries still beat some of our producers in price. This is going to change in a few months...

https://crie.org.gt/mer/

At the beginning of my presidency, we started construction of a natural gas power plant by a private consortium (invenergy.com). It’s a 1 billion dollar project that will generate 380 MW of electricity, 24/7, cleaner and cheaper than other producers in the region.

Nayib Bukele 🇸🇻 (@nayibbukele)
Hemos avanzado mucho en salud, educación, alimentación y seguridad... Pero también debemos atraer inversiones para generar empleos de calidad para nuestra gente. No se hará todo en un día, pero paso a paso construiremos El Salvador que todos soñamos 🇸🇻

With this, instead of importing energy, we will export it, and at the same time make the old power plants (with dirty and expensive energy) obsolete. The plant will start producing energy this May. Actually, we just welcomed the new terminal BW TATIANA, a couple of weeks ago.

Nayib Bukele 🇸🇻 (@nayibbukele)
Hay que ser claros. Let’s be clear.

You can google BW TATIANA. Maybe you will learn a little about energy, a topic you certainly know nothing about. But that’s not all... We are also building a new water dam, that will soon generate an extra 66 MW of clean, renewable energy, on the northern part of San Miguel.

With this we will export energy to our neighbors. But let’s talk about volcanos...

El Salvador is the smallest country in the American continent (aside from the islands), with only 21,000 km2. However that small, it has more than 170 volcanos (ngenespanol.com/naturaleza/p…). And we have been harnessing some power from them for more than half a century.

Este país tiene más de 170 volcanes, y está más cerca de México de lo que creías - National Geographic en Español
Con sus 21,040 kilómetros cuadrados, El Salvador es el país más pequeño de Centroamérica, pero en su territorio se ubican nada menos que 170 volcanes. De ellos, 14 están activos y seis se vigilan constantemente ante peligro de erupciones, según el Ministerio de Medio Ambiente y Recursos Naturales (M…

But we’ve dug new wells and we are planning to increase our geothermal production... by a lot. Only this well, I tweeted about some months ago, will produce 95 MW of clean, cheap and renewable energy from a source that is going to last at least a couple of million years.

Nayib Bukele 🇸🇻 (@nayibbukele)
Our engineers just informed me that they dug a new well, that will provide approximately 95MW of 100% clean, 0 emissions geothermal energy from our volcanos 🌋 Starting to design a full #Bitcoin mining hub around it. What you see coming out of the well is pure water vapor 🇸🇻

So far, we’ve dug 4 of them, and we’re planning to put some of the excess energy into #Bitcoin mining and the initial powering of #Bitcoin City. But, what about the “inactive” Conchagua Volcano?

Nayib Bukele 🇸🇻 (@nayibbukele)
I sent a drone to film one of the new wells... Nice rainbow 🙂 Bitcoin mining with the power of volcanos! #BTC🌋♻️🇸🇻

We’ve a 90% chance of finding at least a +42 MW well. Enough to power all of #Bitcoin City. And if the city grows far more than expected (good problem), then we can still use the 95 MW plant we are building for the initial powering.

So the “inactive” Conchagua Volcano is perfect to power #Bitcoin City, but of course we picked that one (from the 170 we have) for the view...

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