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Author Topic: [2017-08-24] Venezuelans Are Surviving In Crisis By Mining Bitcoin  (Read 3936 times)
Karartma1
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August 25, 2017, 06:08:07 AM
 #1

Hyperinflation has been one of the products of a political crisis in Venezuela that has led to people searching for alternative means to buy necessities. Bitcoin mining has come to the rescue as the citizens take advantage of cheap electricity.
Earning up to about $500 a month through mining, many citizens are getting by on the digital coin as they bypass electricity costs and ditch fiat currency.

More @ https://cointelegraph.com/news/venezuelans-are-surviving-in-crisis-by-mining-bitcoin

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August 25, 2017, 06:53:52 PM
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 when this crisis will last, what  more surprises me is see some people believing in maduro and their cronies.

this remind me in my country where the government stole a huge amount of money and the FMI came into action, as everyone should know when FMI comes into action the only result that can be expected is more disgrace, mean reduction salary and other things. we become more poor and no one remembers to criminally blame the guilty for robbery... Is very sad that innocent people, Have to pay for others' mistakes.


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August 25, 2017, 07:02:01 PM
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But we all know that Venezuela government is anti bitcoin right? They even jailed a few which they arrested just months ago prior to this big economic crisis the country is facing now.

I guess the people of Venezuela are really deep in the knees and they are willing to take the risk of mining bitcoin because being caught will automatically sent them to jail. I just wish our bitcoin friends out there to really be careful. We don't know how long will this crisis last but bitcoin really proves that it can help people in terms of situation like this.

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darkangel11
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August 25, 2017, 09:57:15 PM
 #4

I don't think mining is really that popular there. Don't forget that to be able to mine you have to invest huge money into miners. This can be a problem when you're in financial trouble, like most venezuelans are in times of crisis.
There are actually no facts and names in this article, no interviews with miners, no statements from Venezuelans that are really mining at the moment to escape the crisis. It's bullshit IMO.
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