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RE: Bitcoin mining can be a terrifying nightmare in Venezuela
One person's paradise is another person's hell.
Honestly, the government should just have a national cryptomine instead of cracking down on the people. Those blockchain ledgers should be quite an interesting read if there is corruption going on.
They announced they're gonna install some national cryptomines. This agents I'm talking about put up these stollen rigs for personal benefit
Born there and run away 6 years ago, I'm at Italy doing my own mining thing. The laws that exist in Venezuela do not work at all, everything it's on it own worse escenario , the potential for mining, yes, but very dangerous, extortion, the danger of life it's imminent. Government agency analyze your power consumption because the electricity company itìs owned by the government as well, so they can track whos mining, once they track down your location, they come and confiscate your equipment, they threat you about going in jail, when there is no law against mining, and of course they just might kill you and hide everything. Not worth it bro.
Born there too. And thinking about mining there, but had know people who’s mining facilities had been confiscated....There is no law for anything there....
They are not only installing and using the machines inside goverment facilities, they also sell the "confiscated" machines to people in exchange for money they have figured out that some machines are too slow to mine so they sell it.
interesting read if there is corruption going on