Argument Breaks Out, Argentina's President Wants To Mine BTC From Oil Fields!


 "It's a good plan, but why doesn't the crypto community like it?"

Sergio Massa, Argentina's Presidential candidate who intends to use surplus natural gas from the Vaca Muerta oil field to mine Bitcoin (BTC) has sparked controversy in the country's cryptocurrency community.

Computer scientist Santiago Siri who presented the idea to Massa last week has been backed by many, who believe the gas could be used proactively rather than burned or dumped.

However, the proposal has caused skepticism from BTC miners and supporters as crypto market participants say that BTC mining is too complex and competitive for the government to get involved.

According to José María Sarasola, CEO of the startup Cryptogranjas that runs BTC mining operations in Vaca Muerta has said that a broad infrastructure is needed including reliable internet, efficient machines and technical know-how.

There is no denying that mining has been very profitable for the past few months when the price of BTC saw an increase, but Sarasola believes that mining activities at this time are not only high cost but also tight profit.

It is well known that Cryptogranjas supports increasing BTC hashrate and mining activities, commented the President of Bitcoin Argentina, Ricardo Mihura, adding that he believes that specialized private companies are well positioned to take investment risks.

Critics who emphasize that BTC mining requires expertise not owned by the government have suggested private-public partnerships as an alternative model should the state wish to participate.