Argentina's Climate Goals
The U.S. Ambassador to Argentina, Marc R. Stanley, has praised Unblock Computing's bitcoin mining initiative for its innovative use of flared gas to generate electricity. This plan not only aids Argentina in achieving its climate objectives but also promotes energy conservation.
Unique Electricity Generation
Unblock Computing, in partnership with Crusoe Energy Systems, has developed a groundbreaking method to generate electricity using flared gas. This ingenious plan has caught the attention of Ambassador Stanley, who commended the collaboration between U.S. and Argentine companies in solving environmental challenges.
Ambassador Stanley expressed his excitement about the methane combustion technology developed by Crusoe and Unblock Global. He highlighted that this solution helps Argentina meet its climate goals while simultaneously saving energy and generating revenue.
Investment and Emission Reduction
Recent reports revealed that the Argentine Bitcoin miner, Unblock Computing, secured a $15 million investment to power its operations at Vaca Muerta. Located in the Neuquén Basin, Vaca Muerta is known for its significant shale gas reserves.
According to Tomas Ocampo, the founder of Unblock Computing, the $15 million investment will enable Crusoe Energy Systems and its partners to produce $200 million worth of oil with reduced emissions. This significant reduction in emissions aligns with Argentina's commitment to combating climate change.
Share Your Thoughts
What are your thoughts on this innovative use of flared gas in bitcoin mining? Share your opinions and ideas in the comments section below.
Frequently Asked Questions
Should You Buy Gold?
Gold was a safe investment option for those who were in financial turmoil. Many people today are moving away from stocks and bonds to look at precious metals, such as gold, as a way to diversify their investments.
The gold price has been in an upward trend for the past few years, but it remains relatively low compared with other commodities like silver or oil.
Some experts think that this could change in the near future. They say that gold prices could rise dramatically with another global financial crisis.
They also pointed out that gold is gaining popularity due to its perceived value, and potential return.
These are some things you should consider when considering gold investing.
- First, consider whether or not you need the money you're saving for retirement. You can save for retirement and not invest your savings in gold. However, you can still save for retirement without putting your savings into gold.
- Second, make sure you understand what you're getting yourself into before you start buying gold.There are several different types of gold IRA accounts available. Each account offers different levels of security and flexibility.
- Keep in mind that gold may not be as secure as a bank deposit. Losing your gold coins could result in you never being able to retrieve them.
Don't buy gold unless you have done your research. Make sure to protect any gold you already own.
How much should you have of gold in your portfolio
The amount you make will depend on the amount of capital you have. For a small start, $5k to $10k is a good range. Then as you grow, you could move into an office space and rent out desks, etc. Renting out desks and other equipment is a great way to save money on rent. Only one month's rent is required.
It's also important to determine what type business you'll run. In my case, we charge clients between $1000-2000/month, depending on what they order. Consider how much you expect to make from each client, if you decide to do this kinda thing.
Because freelance work pays freelancers, you won't likely get a monthly income if you do freelance work. So you might only get paid once every 6 months or so.
Decide what kind of income do you want before you calculate how much gold is needed.
I recommend starting with $1k to $2k of gold, and then growing from there.
What are the fees for an IRA that holds gold?
The Individual Retirement Account (IRA), fee is $6 per monthly. This includes account maintenance fees and investment costs for your chosen investments.
You may have to pay additional fees if you want to diversify your portfolio. The type of IRA you choose will determine the fees. For example, some companies offer free checking accounts but charge monthly fees for IRA accounts.
Most providers also charge annual management costs. These fees can range from 0% up to 1%. The average rate is.25% annually. These rates can be waived if the broker is TD Ameritrade.
How to open a Precious Metal IRA
First, decide if an Individual Retirement Account is right for you. Open the account by filling out Form 8606. Then you must fill out Form 5204 to determine what type of IRA you are eligible for. This form should not be completed more than 60 days after the account is opened. You can then start investing once you have this completed. You could also opt to make a contribution directly from your paycheck by using payroll deduction.
Complete Form 8903 if your Roth IRA option is chosen. The process for an ordinary IRA will not be affected.
You'll need to meet specific requirements to qualify for a precious metals IRA. The IRS says you must be 18 years old and have earned income. You can't earn more than $110,000 per annum ($220,000 in married filing jointly) for any given tax year. And, you have to make contributions regularly. These rules apply to contributions made directly or through employer sponsorship.
An IRA for precious metals allows you to invest in gold and silver as well as platinum, rhodium, and even platinum. You can only purchase bullion in physical form. You won't have the ability to trade stocks or bonds.
Your precious metals IRA may also be used to invest in precious-metal companies. This option may be offered by some IRA providers.
An IRA is a great way to invest in precious metals. However, there are two important drawbacks. First, they're not as liquid as stocks or bonds. This makes them harder to sell when needed. Second, they are not able to generate dividends as stocks and bonds. You'll lose your money over time, rather than making it.
What's the advantage of a Gold IRA?
The benefits of a gold IRA are many. You can diversify your portfolio with this investment vehicle. You decide how much money you want to put into each account, and when you want it to be withdrawn.
You can also rollover funds from other retirement accounts to a gold IRA. This is a great way to make a smooth transition if you want to retire earlier.
The best thing is that investing in gold IRAs doesn't require any special skills. They're readily available at almost all banks and brokerage firms. Withdrawals can happen automatically, without any fees or penalties.
There are, however, some drawbacks. The volatility of gold has been a hallmark of its history. Understanding why you want to invest in gold is essential. Are you seeking safety or growth? Is it for insurance purposes or a long-term strategy? Only once you know, that will you be able to make an informed decision.
If you plan on keeping your gold IRA alive for a while, you may want to consider purchasing more than 1 ounce of pure gold. You won't need to buy more than one ounce of gold to cover all your needs. You could need several ounces depending on what you plan to do with your gold.
You don't have to buy a lot of gold if your goal is to sell it. You can even live with just one ounce. These funds won't allow you to purchase anything else.
Statistics
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
External Links
investopedia.com
finance.yahoo.com
law.cornell.edu
- 7 U.S. Code SS7 – Designation Boards of Trade as Contract Markets
- 26 U.S. Code SS 408 – Individual retirement plans
cftc.gov
How To
The History of Gold as an Asset
From the beginning of history, gold was a popular currency. It was widely accepted around the world and enjoyed its purity, divisibility and uniformity. In addition, because of its value, it was traded internationally. Different weights and measurements existed around the world, however, because there were not international standards to measure gold. For example, one pound sterling in England equals 24 carats; one livre tournois equals 25 carats; one mark equals 28 carats; and so on.
The United States began issuing American coin made up 90% copper, 10% zinc and 0.942 fine-gold in the 1860s. This caused a drop in foreign currency demand which resulted in an increase of their prices. The United States began minting large quantities gold coins at this time, which led to a drop in the price. The U.S. government was unable to pay its debts due to too much money being in circulation. To do so, they decided to sell some of the excess gold back to Europe.
Many European countries didn't trust the U.S. dollars and started to accept gold for payment. However, many European nations stopped using gold to pay after World War I and started using paper currency instead. The value of gold has significantly increased since then. Even though gold's price fluctuates, it is still one of the most secure investments you could make.
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By: Terence Zimwara
Title: U.S. Ambassador Praises Unblock Computing's Bitcoin Mining Initiative for Innovative Use of Flared Gas
Sourced From: news.bitcoin.com/us-ambassador-to-argentina-hails-bitcoin-miners-genius-flared-gas-power-generation-plans/
Published Date: Mon, 18 Dec 2023 07:30:30 +0000
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