Tue, April 16, 2024 at 13:10

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    Kang-hoon

    • Hello Annie, today's news is about a recent development in Iraq that has caught the attention of the Bitcoin community.

    • The Deputy Prime Minister of Iraq, Muhammad Ali Tamim, made some statements during a press conference with US Secretary of State Antony Blinken that have stirred speculation about Iraq's potential entry into Bitcoin mining at a nation-state level.

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  • Annie

    • Oh, really?😮 That's interesting!

    • What did the Deputy Prime Minister say exactly?

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    Kang-hoon

    • During the conference, Tamim discussed several initiatives aimed at modernizing Iraq's energy sector and diversifying its economy.

    • One of the key points was the utilization of new technologies to capture flare gas, a byproduct of oil extraction that is often wasted.

  • Annie

    • Hmm...I see.

    • And how does this relate to Bitcoin mining?🤔

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    Kang-hoon

    • Well, this is where it gets interesting.

    • The Bitcoin community is interested in flared gas capturing because this excess gas can be converted into electricity and used to power mining operations.

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    • This not only provides an economically viable solution to a waste problem but also aligns with global efforts to reduce environmental pollution.

  • Annie

    • Wow, that's quite innovative!

    • So, does this mean Iraq is planning to start mining Bitcoin?

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    Kang-hoon

    • That's the speculation.

    • A noted Bitcoin pundit known as Joe Kerr suggested that Iraq might be moving towards adopting Bitcoin mining on a large scale.

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    • He even tweeted about it, interpreting Tamim's statement as a hint towards BTC mining.

  • Annie

    • Interesting!😊 But has there been any official confirmation from the Iraqi government about this?

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    Kang-hoon

    • As of now, there's no official confirmation from the Iraqi government regarding the start of Bitcoin mining operations.

    • It's purely speculation at the moment.

    • However, the connections drawn by Kerr between Tamim's comments are noteworthy.

  • Annie

    • I see.

    • And what about other countries?

    • Are there any that officially mine Bitcoin at a nation-state level?

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    Kang-hoon

    • Yes, there are.

    • As of today, six countries officially mine Bitcoin on a nation-state level.

    • These include El Salvador, the Kingdom of Bhutan, Russia, the United Arab Emirates, Oman and Ethiopia.

  • Annie

    • That's quite a list!

    • So, is this news good or bad for the market?

    • What impact could it have?

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    Kang-hoon

    • If Iraq does indeed start mining Bitcoin, it could be seen as a positive development for the market.

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    • It would mean another country is recognizing the potential of Bitcoin and its underlying technology.

    • However, as with any speculation, it's important to wait for official confirmation before making any investment decisions.

    • Upon comprehensive consideration, this news is perceived as a 😍Bullish.