Project Mano | ማኖ 🇪🇹
430 posts
@projectmano
Movement to push Ethiopian Gov. to embrace #Bitcoin. Ideas for ETHIOPIA to use to rescue our economy - Join the movement!
We have been saying this (among many things) for years. Despite being offered large sums of $$ by various miners to shut up, we stood our ground and screamed on top of our lung that this is an unsustainable and corrupt hijack of public resources for benefit of few foreign Bitcoin mining companies. The only scenario it makes sense to allow Bitcoin mining with tax payer funded revenue is if the State or State owned enterprise became the sole operator of Bitcoin mining, with the strategy of storing the acquired Bitcoin for longer term. This way, the low cost of acquisation on a future world reserve asset that is finite in amount can be used to protect the ETB from slumping down even further. As there should have been a Strategic Bitcoin Reserve a long time ago and mining provides a significantly cheaper avenue to building that compared to directly buying Bitcoin. The idea was hijacked from our initial proposal 5 years ago on projectmano.com for the State to mine Bitcoin itself using stranded power and not sell the power to foreign bitcoin miners. However, the "experts", who are people like @KalKassa, a sell-out traitor who'd sell his grandparents for a simple pat from foreign hands. He is pathetic absolute lowlife. an insidious plague, a wolf in sheeps clothing, more harmful than any foreigner because he uses his "Ethiopian" face and card to drag the world to benefit from public tax funded resource, while at the same time spreading propoganda Government mining is risky - the incentives are for his own pocket, and truthfuly, he should be investigated. He is a venomous insect that would gnaw on his own mother’s corpse for a crumb of validation from foreigners. The other expert who claims to be a Bitcoiner but resists on State mining because he think its threatning to his business is Nemo Semret. Both of these people have deep incentive that conflicts with their own personal interests to spread anything but the truth, sometimes with scentific seeming claims that could easily be debunked. Ethiopia's power is cheap at 1c/kWh is not because the cost of production is that much. The cost of production is significantly higher. The only reason is to make power accessible to people who live under 1$/day, which is a significant portion of the population. Not to drag the world into benefiting and basically extracting Ethiopians tax payments by paying less than what it costs to produce the power. The only benefit is short sighted, quick foreign currency. By comparasion, if the State had started mining when we made the recommendation 5 years ago, there would have been over 20bn$ earned from Bitcoin mining. and if that is stored in a Bitcoin Strategic Reserve, there would def not be any foreign currency crisis. Since Day 1, Project Mano's goals have been the same. Increase the buying power of ETB against any currency by building a Strategic Bitcoin Reserve through State owned mining Enterprise. The opportunity cost of listening to people who only spread information that benefits them has been in tens of billions of $ and in few years in hundruds of billions of $ when Bitcoin price crosses at 250K. Sooner or later, the public will realize this fact, and how they are funding a closely operated colonization project that extracts all the resources they could have used to change their lives. Today @TirusewAsefa and @alemayehuGeda have noticed and started questioning the incentive structure behind it, as we have for years. Soon more people will. Ultiamtely, not losing sight of the opportunity is what matters: which is that the Ethiopian Gov should be mining Bitcoin itself. A resource that had over 250% yearly increase on average since the year it has been created. References: x.com/projectmano/st…
This is a good start to pause and think. A few statistics for big picture. 1⃣ The Bitcoin miners enjoy ~$0.035 to $0.0385/kwh access to buy energy. 2⃣ It cost #Ethiopia $0.03 to $0.05/ kwh to produce hydropower. Basically, it is a break even or at a loss sale. A huge discount. 3⃣ #Ethiopia sells ~$0.065/ kwh to neighboring countries which is already about twice more than what it gets from the bitcoin folks. 4⃣ Cost of energy production for countries that buy energy from #Ethiopia, if they have to do it by themselves, is $0.13 to $0.2/kwh, a THREE to FIVE fold of what #Ethiopia is selling to this industry.🤔 Of course, the priority is how do we get this energy to the needy?
We have been saying this (among many things) for years. Despite being offered large sums of $$ by various miners to shut up, we stood our ground and screamed on top of our lung that this is an unsustainable and corrupt hijack of public resources for benefit of few foreign Bitcoin mining companies. The only scenario it makes sense to allow Bitcoin mining with tax payer funded revenue is if the State or State owned enterprise became the sole operator of Bitcoin mining, with the strategy of storing the acquired Bitcoin for longer term. This way, the low cost of acquisation on a future world reserve asset that is finite in amount can be used to protect the ETB from slumping down even further. As there should have been a Strategic Bitcoin Reserve a long time ago and mining provides a significantly cheaper avenue to building that compared to directly buying Bitcoin. The idea was hijacked from our initial proposal 5 years ago on projectmano.com for the State to mine Bitcoin itself using stranded power and not sell the power to foreign bitcoin miners. However, the "experts", who are people like @KalKassa, a sell-out traitor who'd sell his grandparents for a simple pat from foreign hands. He is pathetic absolute lowlife. an insidious plague, a wolf in sheeps clothing, more harmful than any foreigner because he uses his "Ethiopian" face and card to drag the world to benefit from public tax funded resource, while at the same time spreading propoganda Government mining is risky - the incentives are for his own pocket, and truthfuly, he should be investigated. He is a venomous insect that would gnaw on his own mother’s corpse for a crumb of validation from foreigners. The other expert who claims to be a Bitcoiner but resists on State mining because he think its threatning to his business is Nemo Semret. Both of these people have deep incentive that conflicts with their own personal interests to spread anything but the truth, sometimes with scentific seeming claims that could easily be debunked. Ethiopia's power is cheap at 1c/kWh is not because the cost of production is that much. The cost of production is significantly higher. The only reason is to make power accessible to people who live under 1$/day, which is a significant portion of the population. Not to drag the world into benefiting and basically extracting Ethiopians tax payments by paying less than what it costs to produce the power. The only benefit is short sighted, quick foreign currency. By comparasion, if the State had started mining when we made the recommendation 5 years ago, there would have been over 20bn$ earned from Bitcoin mining. and if that is stored in a Bitcoin Strategic Reserve, there would def not be any foreign currency crisis. Since Day 1, Project Mano's goals have been the same. Increase the buying power of ETB against any currency by building a Strategic Bitcoin Reserve through State owned mining Enterprise. The opportunity cost of listening to people who only spread information that benefits them has been in tens of billions of $ and in few years in hundruds of billions of $ when Bitcoin price crosses at 250K. Sooner or later, the public will realize this fact, and how they are funding a closely operated colonization project that extracts all the resources they could have used to change their lives. Today @TirusewAsefa and @alemayehuGeda have noticed and started questioning the incentive structure behind it, as we have for years. Soon more people will. Ultiamtely, not losing sight of the opportunity is what matters: which is that the Ethiopian Gov should be mining Bitcoin itself. A resource that had over 250% yearly increase on average since the year it has been created. References: x.com/projectmano/st…
As The Grand #Ethiopian Renaissance Dam (#GERD) nears completion, a key challenge for #Ethiopia remains: How the country can leverage such a huge energy production for the people in need? Specifically, balancing between three objectives [Ref 1]: -- 1⃣ Unsustainable crypto mining which currently accounts for a massive 30% #Ethiopia’s total energy demand and growing..😲 2⃣ Export to neighboring countries at a relatively cheap price (more on this later whether this sale could finance off-grid solutions in rural areas) 3⃣ Addressing frequent interruptions of power including in the capital, #AddisAbaba. So much so that expensive diesel generators are widely used at a much costly price than that of hydropower. 1/8
EL SALVADOR'S STRATEGIC BITCOIN RESERVE APPROACHES $735M IN USD VALUE Up another $10M overnight 🚀
JUST IN: Texas Strategic Bitcoin Reserve bill SB21 officially PASSES and goes to Governors desk for final signature 🇺🇸
@Ecryptofficial @projectmano Project Mano is correct on two points: Bitcoin good & corruption bad. Their heart may be in the right place. But unhelpful. They post wildly incorrect random numbers. Engage in harmful xenophobia. And fail to understand why government mining is a terrible idea.
@FanosCrypto over 1.2 Billion $ yearly. and they are planning to sell 1.2GW, that would actually make over 2.6Bn$ for 120m$ only this year. daytime robbery!
