The country’s president, Nayib Bukele, announced and implemented the decision almost unilaterally, dismissing criticism from his citizens, the Bank of England, the IMF, Vitalik Buterin and many others. Since the Bitcoin legal tender law was passed in September 2021, Bukele has also announced plans to build Bitcoin City, a city fully based on mining Bitcoin with geothermal energy from volcanoes. Mining Bitcoins can be very profitable for miners, depending on the current hash rate and the price of Bitcoin. Its decentralized, global network makes the prospect of bitcoin disappearing nearly impossible. In the U.S., other cryptocurrencies that lack bitcoin’s decentralized […]