Bitcoin Mining Race (Oman)

In this video, I discuss the race between nation-states to set up Bitcoin mining operations and to get their hands on some Bitcoin.

Following China, El Salvador, Bhutan, and Russia, now Oman will be investing over $1 billion in eco-friendly Bitcoin mining operations. Oman will be using wasted flared gas and new sources of hydro-energy to generate the electricity used to power the Bitcoin mining rigs.

In the process, Oman will be diversifying away from its heavy reliance on physical commodities like crude oil and into the world's strongest digital commodity, which is Bitcoin.

Not only is this great news for the Bitcoin network (which continues to get stronger and grow in hash), but it's also groundbreaking news for Bitcoin and Islamic finance. Oman has concluded that Bitcoin is halal, which bodes well for other Islamic countries and people to accept Bitcoin.

Bitcoin is freedom money for people everywhere, from all races, all tribes, and all religions. It is digital money for 8 billion humans who want a better life and place to store their savings.

Smaller nation-states like Oman will move to a Bitcoin standard before larger nation-states, which are plagued by the "incumbent problem."

If you're big and established, you get lazy and begin to think you have the divine right to everything. This is why large corporations (BlockBuster, Kodak, Xerox) often get out-innovated and displaced.

And it applies to nation-states as well.

Will the US be the last country on earth to move to a Bitcoin standard?

I certainly hope not. Bitcoin is freedom money, and aligns perfectly with the US founding fathers' vision for the country.

But we shall see. Fortunately Bitcoin and Bitcoiners are highly mobile and can choose to live wherever they are treated best.

Not investment advice! Consult a financial advisor.

China could not stop Bitcoin mining:
https://www.cnbc.com/2022/05/18/china-is-second-biggest-bitcoin-mining-hub-as-miners-go-underground.html

Mining Bitcoin using geothermal in El Salvador:
https://twitter.com/DocumentingBTC/status/1648384703202746369
https://www.youtube.com/watch?v=wlweBndxY1E&ab_channel=BitcoinUniversity

Mining Bitcoin in Bhutan:
https://twitter.com/SimplyBitcoinTV/status/1688870531494211585

Mining Bitcoin in Russia:
https://cryptoslate.com/russia-becomes-2nd-most-powerful-btc-miner-in-the-world/

Oman’s Bold Bitcoin Play: $1.1 Billion Investment On Bitcoin Mining Infrastructure:
https://www.forbes.com/sites/irinaheaver/2023/08/24/omans-bold-bitcoin-play-11-billion-investment-on-bitcoin-mining-infrastructure/

Saifedean Ammous on Bitcoin and Islamic finance:
https://twitter.com/saifedean/status/1694801871209173433

ETH influencers calling ETH a bond:
https://twitter.com/Pledditor/status/1679828845187284992

President Biden proposes 30% tax on electricity used for Bitcoin mining:
https://twitter.com/BTC_Archive/status/1634131261227671553

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#BitcoinMining
#Oman

Disclaimer
Neither Bitcoin University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video, on this YouTube channel, or at www.Trader.University or www.BitcoinUniversity.com (henceforth, “the Sites”) should be construed as such by you. This video, channel, and the Sites should be used as educational tools only and are not replacements for professional investment advice. Trading or investing in new and volatile assets like Bitcoin can be risky.

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