Bitcoin against inflation? Argentinian Village Mines Crypto

The original choice of an Argentinian municipality! – Since 2020Argentina is plagued by uncontrollable inflation… The country has not yet taken the step of recognizing Bitcoin (BTC) as legal tender like other Latin American countries, some Argentinian cities are showing ingenuity to minimize this inflation. This is the case of the municipality of Serodino, which has decided to embark on cryptocurrency mining.

A municipality in Argentina bets on crypto mining

First, Serodino is a small town in Argentina located in the province of Santa Fe. It has approximately 6,000 inhabitants. On April 10, 2022, the mayor of the municipality of Serodino, Juan Pio Drovetta announced that it wanted to bet on cryptocurrency mining, to give its city the means to face the financial crisis and inflation that affects Argentina.

Location of Serodino in Argentina – Source: Google Maps

This proposal arose from the economic problems experienced by the municipality of Serodino, particularly with regard to the restoration of its rail network. The objective of this upgrade is also to connect Serodino to major cities the closest ones like Rosario. The mayor of the small town in Argentina said:

“We are going through complex situations, the Tucuman train has stopped after 35 years and we need a suburban train like the Canada/Rosario or Galvez/Rosario one. For this we have to work and see how we can collaborate to improve this and try to contribute knowledge, manpower and new technologies. »

In addition, the mining project launched at Serodino will begin with the purchase of 6 graphics cards acquired through community and commercial investments. Additionally, Mayor Juan Pio Drovetta said he immediately received the municipal support in this cryptocurrency mining project. However, the press release does not specify which cryptocurrencies will be mined.

>> Don’t be undermined, there is crypto for everyone on SwissBorg (affiliate link) <

Crypto and mining: place for education

First, the mayor of Serodino assured that he was investing ” in the future and knowledge ». He was also questioned whether this mining project did not include risks. Juan Pio Drovetta demonstrated a pedagogical response:

“Here, it is necessary to distinguish: it is not a question of buying cryptocurrencies, or of speculating on them, but it is a question of generating cryptocurrencies with decryption. We will always win in this case. »

Then, asked about the legality of this projectthe mayor of Serodino maintained that there were no specific regulations to date. Furthermore, he wished to be reassuring by stating work with university professors who will be in charge of all this legal part.

Finally, according to the mayor of Serodino, the last step in this project will consist in transforming the cryptocurrencies mined in argentine pesos :

“It’s a pilot test from which we could get 60,000 or 70,000 pesos [soit environ 530 ou 620 dollars] per month, depending on price fluctuation. »

The Argentinian municipality would be the first to embark on mining to finance its infrastructure. There is indeed the Salvadoran project of the “Bitcoin City”but it’s different when the government decided to start from scratch to build this city around cryptocurrency mining.

You may not live in Serodino, but there’s nothing stopping you from having crypto in your wallet! To enter the industry on the right foot, an exceptional offer awaits you on the Swissborg platform: a bonus of up to €200 in cryptocurrencies when you register (affiliate link, for a minimum deposit of €50)

Leave a Comment