Cryptocurrency In Venezuela

[John Newman]

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 at 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.