September 30, 2022

News From El Salvador, Early October: The Chivo Ecosystem’s Stress Test

6 min read

Another month, another Bitcoin mined utilizing volcanic power. That’s what’s happening in El Salvador, the little country that could. Plus, Moneygram changes its company. Issues and solutions with Chivo ATMs and the Chivo community as a whole. Stars in Bitcoin Beach and direct reports from the ground. This edition of our now regular news roundup comes additional charged with action and heartwarming stories, so buckle up!

Associated Reading|By The Numbers: How Much Western Union And MoneyGram Will Lose From El Salvador’s Bitcoin Law

The insane thing is, the Bitcoin Law entered into impact just a month earlier. And all of this is taking place as people from all over the world arrive in the country for the two Bitcoin conferences that it’ll host this month.

El Salvador’s Volcanic Bitcoin Mine Is On

  • A few days after sharing this video of the Volcanic Bitcoin mine already in action, President Bukele reveals the invoices. He posted the Account Balance from “the first Bitcoin mining” done using that sweet geothermal renewable resource. The overall amounts to just a little over $500, however it indicates a lot both for El Salvador and for Bitcoin.