Post
Topic
Board Announcements (Altcoins)
Re: [ANN]❁ KORECoin- Tor Service Nodes, Browser, VoIP, Aether OS, KOREPhone, KOREbay
by
Mxrider420z
on 25/09/2017, 22:38:53 UTC
While I feel bad for the people of Venezuela, it is refreshing to read an article that states that crypto is a legitimate currency because the fiat alternative has a black market.


https://cointelegraph.com/news/first-bitcoinization-of-a-sovereign-state-is-happening-now

Cool article, funny thing though they are arresting or fining miners there because you can make a lot of money by mining cryptos way more than by just working since their currency lost like 99,4% of its value since 2012, they are saying its because of the eletricity that they are arresting people but i dont think thats the case.

Imagine how hard is to buy a mining rig when you get around 30 dollars a month by working full time.

Brazil is getting huge numbers of refugees that are crossing the border so they can have a better life over here.

From what i heard you can pay for your basic needs if you mine cryptos and work over there, but if you are only working there it will be really hard for earning enough money just to survive.

Does the government subsidize electricity costs?

Yep it does, state-subsidized electricity is so cheap it’s virtually free.

Here is an article from march of what is happening there
https://www.washingtonpost.com/news/worldviews/wp/2017/03/10/bitcoin-mining-is-big-business-in-venezuela-but-the-government-wants-to-shut-it-down/?utm_term=.3b34649c41d6