{"id":9521,"date":"2023-11-04T09:50:45","date_gmt":"2023-11-04T09:50:45","guid":{"rendered":"https:\/\/infundpros.com\/markets\/crypto\/argentina-presidential-candidate-proposes-mining-bitcoin-with-residual-natural-gas-faces-skepticism\/"},"modified":"2023-11-04T09:50:47","modified_gmt":"2023-11-04T09:50:47","slug":"argentina-presidential-candidate-proposes-mining-bitcoin-with-residual-natural-gas-faces-skepticism","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=9521","title":{"rendered":"Argentina Presidential Candidate Proposes Mining Bitcoin With Residual Natural Gas, Faces Skepticism"},"content":{"rendered":"<div>\n<figure id=\"attachment_127145\" aria-describedby=\"caption-attachment-127145\" style=\"width: 1280px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-127145\" class=\"wp-caption-text\">Source: Pixabay<\/figcaption><\/figure>\n<p>Argentina\u2019s presidential hopeful Sergio Massa unveiled plans to utilize excess natural gas from the Vaca Muerta oil fields to mine Bitcoin. However, following his proposal, the local crypto community opposed the government\u2019s direct involvement in Bitcoin (BTC) mining.<\/p>\n<p>In late October, Massa proposed plans to use surplus gas from Vaca Muerta Formation commonly known as \u2018Dead Cow.\u2019 The plant is well known as the host rock for major deposits of shale oil and shale gas.<\/p>\n<p>The proposal was presented by computer scientist Santiago Siri in a meeting last week with Massa, the Minister of Economy. The meeting, shared on Instagram, received a large amount of criticism, raising red flags on other social media.<\/p>\n<p>According to a report by local media criptonoticias, Siri discussed Bitcoin characteristics, including the projection of it as digital gold. He also highlighted that Bitcoin is a deflationary currency with only 21 million units in circulation.<\/p>\n<p>Massa was receptive to mining bitcoin using residual gas from Vaca Muerta, during the call.\n<\/p>\n<p>\nThe meeting followed growing criticisms from the local crypto community, particularly after Siri presented a prototype of Argentina\u2019s CBDC. Critics from the community posted on social media, comparing the CBDC to UBI, a token launched by the Argentine scientist. Apparently, it lost 99% of its value within 24 hours of its launch in 2021.<\/p>\n<p>A Venezuelan developer Francisco Calder\u00f3n wrote on X (Twitter) which translates to, \u201cGod raises them and they get together.\u201d The developer also posted a meme that called the meeting a \u201crug pull.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"es\" dir=\"ltr\">Dios los cr\u00eda y ellos se juntan https:\/\/t.co\/8In1SDPD2C <a rel=\"nofollow\" href=\"https:\/\/t.co\/bmBS3zGyCr\">pic.twitter.com\/bmBS3zGyCr<\/a><\/p>\n<p>\u2014 Francisco Calder\u00f3n \ud83e\uded3\u26a1 (@negrunch) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/negrunch\/status\/1717885621220298955?ref_src=twsrc%5Etfw\">October 27, 2023<\/a><\/p>\n<\/blockquote>\n<p>Another user raised \u201cbigger red flags\u201d as a warning sign on Twitter, in response to the Massa-Siri meeting.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"es\" dir=\"ltr\">Necesito red flags m\u00e1s grandes \ud83d\udea9\ud83d\udea9\ud83d\udea9<a rel=\"nofollow\" href=\"https:\/\/t.co\/Nc3YFYXz0e\">pic.twitter.com\/Nc3YFYXz0e<\/a><\/p>\n<p>\u2014 Yayi Morales (@yayi_morales_) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/yayi_morales_\/status\/1717733878234816686?ref_src=twsrc%5Etfw\">October 27, 2023<\/a><\/p>\n<\/blockquote>\n<p>Massa <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/agustinenada\/status\/1717669905594527963\" target=\"_blank\">spoke to local media<\/a> on Oct. 27 regarding the crypto mining, taking advantage of Vaca Muerta\u2019s resources.\n<\/p>\n<p>\nThe topic had become a point for a discussion on Nov. 1 in X-Spaces, joined by speakers including Bitcoin miners. Per the discussion, they see that Bitcoin mining should not be managed by the State.<\/p>\n<p>Miners also quoted some of the challenges of a mining site at Vaca Muerta, including the consumption of electricity energy. They also stressed the expensive infrastructure that requires a good Internet connection.<\/p>\n<p>According to Jos\u00e9 Mar\u00eda Sarasola, CEO of Cryptogranjas, a mining startup in the Vaca Muerta area, excess gas \u201cmeans that the well has to be closed.\u201d The startup uses pig, cow excrement and other organic and industrial waste to produce energy for digital mining.\n<\/p>\n<blockquote>\n<p>\u201cRight there Bitcoin appears as the perfect partner. This gas has no way of being used because it cannot be vented and through mining, it can be reused by consuming it, without having to release it into the atmosphere.\u201d<\/p>\n<\/blockquote>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><script async src=\"\/\/www.instagram.com\/embed.js\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/argentina-presidential-candidate-proposes-mining-bitcoin-with-residual-natural-gas-faces-skepticism.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Pixabay Argentina\u2019s presidential hopeful Sergio Massa unveiled plans to utilize excess natural gas from the Vaca Muerta oil fields to mine&#8230;<\/p>\n","protected":false},"author":1,"featured_media":9522,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"class_list":{"0":"post-9521","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Argentina Presidential Candidate Proposes Mining Bitcoin With Residual Natural Gas, Faces Skepticism | inFundPros<\/title>\n<meta name=\"description\" content=\"Source: Pixabay Argentina\u2019s presidential hopeful Sergio Massa unveiled plans to utilize excess natural gas from the Vaca Muerta oil fields to mine\" \/>\n<meta name=\"robots\" content=\"index, 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