A proposal by Argentine presidential candidate Sergio Massa to use excess natural gas from the Vaca Muerta oil fields to mine Bitcoin has generated controversy in the country’s cryptocurrency community.

The idea was presented to Massa last week by computer scientist Santiago Siri. It involves utilizing surplus gas from Vaca Muerta, a major shale oil and gas deposit in western Argentina, to power bitcoin mining operations. Supporters say it would allow the gas to be put to productive use rather than being flared or vented.

Project prone to corruption and the diversion of public resources

However, the proposal has met skepticism from Bitcoin miners and advocates. In a recent online forum hosted by the NGO Bitcoin Argentina, participants argued that BTC mining is too complex and competitive for the government to get involved.

They also warned of the risks of government-backed mining projects, such as the potential for corruption and the diversion of public resources. Others emphasized that BTC mining requires expertise the government lacks, proposing private-public partnerships as an alternative model if the state wishes to participate.

Could create jobs and boost the local economy

Despite the criticism, the proposal signals increasing mainstream acceptance of Bitcoin in Argentina. It also highlights the potential for Vaca Muerta’s natural gas reserves to be used to power Bitcoin mining operations.

Arguments in favor of the proposal include that it would allow surplus gas from Vaca Muerta to be put to productive use rather than being flared or vented, create jobs and boost the local economy, as well as help to decentralize Bitcoin mining and make it more resilient to attack.

Those against the proposal say that Bitcoin mining is too complex and competitive for the government to get involved, government-backed mining projects are prone to corruption and the diversion of public resources, and that the government lacks the expertise required to mine Bitcoin effectively.

A growing acceptance of Bitcoin in Argentina

The proposal to mine Bitcoin using excess natural gas from Vaca Muerta has generated mixed reactions in the Argentine cryptocurrency community. Supporters argue that it would allow surplus gas to be put to productive use and boost the local economy. Critics warn of the risks of government-backed mining projects and emphasize the need for private sector involvement.

It remains to be seen whether Massa’s proposal will be implemented if he is elected president. However, the debate highlights the growing acceptance of Bitcoin in Argentina and the potential for Vaca Muerta’s natural gas reserves to be used to power Bitcoin mining operations.