Cryptocurrency In Venezuela
http://reason.com/archives/2016/11/28/the-secret-dangerous-world-of The Secret, Dangerous World of Venezuelan Bitcoin Mining How cryptocurrency is turning socialism against itself Four years ago, Alberto's career prospects were bleak. The 23-year-old Venezuelan had just graduated from college with a degree in computer science, but his nation's economy was already shredded by 13 years of socialism. "There were job opportunities, but they paid like $20 a month, and we were used to traveling and buying things from abroad so we couldn't settle for that," his friend Luis recalls. Alberto and Luis—whose names have been changed for their own safety—teamed up to start a clothing business, but the venture floundered. Then Alberto discovered bitcoin mining.
Fascinating article. It seems the people in control are jumping on the mining bandwagon too, so the power tap will probably remain open for a while.... Venezuela has plenty of their own carbon to generate the wattage, even if they don't have a fucking single thing else. -- John
On Dec 2, 2016, at 12:07 AM, grarpamp <grarpamp@gmail.com> wrote:
http://reason.com/archives/2016/11/28/the-secret-dangerous-world-of
The Secret, Dangerous World of Venezuelan Bitcoin Mining How cryptocurrency is turning socialism against itself
Four years ago, Alberto's career prospects were bleak. The 23-year-old Venezuelan had just graduated from college with a degree in computer science, but his nation's economy was already shredded by 13 years of socialism.
"There were job opportunities, but they paid like $20 a month, and we were used to traveling and buying things from abroad so we couldn't settle for that," his friend Luis recalls. Alberto and Luis—whose names have been changed for their own safety—teamed up to start a clothing business, but the venture floundered.
Then Alberto discovered bitcoin mining.
participants (2)
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grarpamp -
John Newman