Bitcoin Forum

Bitcoin: The Techie’s Refuge from a Collapsing Bolivar

I think anyone can trade bitcoins if they already know how to purchase things online. I don’t think just anyone could mine. I bought a mining machine for the equivalent of $500 in bitcoins, installed the free software that exists for this, connected it to the internet and I simply keep it running 24/7, as long as there aren’t any blackouts, of course.”

And his return seems worth the trouble: Ricardo mines about 80 dollars each month, whilst paying about 200 bolivars for the electricity it takes to do so. “After 6 months I am now achieving a “theoretical exchange rate” of 2.5 Bs/$. It varies greatly since the USD to Bitcoin changes. My electric bill, on the other hand, doesn’t.”

And that’s if you don’t have the brilliant idea of purchasing a power generator that runs on essentially free gasoline

http://www.caracaschronicles.com/2016/01/29/51012/


200 bolivars = 20 dollars. sounds like a good idea  :)