Post
Topic
Board Mining (Altcoins)
Re: Profitability Thoughts for Mining?
by
gotminer
on 14/02/2019, 02:45:33 UTC
Venezuela is the perfect example that it doesn't matter if you're interested in politics or not, politics is interested in you, or more specifically, your money.

Are you even allowed to legally mine in Venezuela? From what I've heard the power is subsidised by the government and you are not permitted to mine at all.

I remember back when Bitcoin and Eth were at all time highs, the Venezuela army basically arrested anyone that was caught running any type of farm whether it was an ASIC farm or a GPU farm.

Aside from 1 or 2 GPUs, you werent permitted to mine at all.

I haven't seen many articles about Venezuelan mining from about June of 2018 onwards, but last I saw the customs in Venezuela were confiscating miners that they found and stopping mining operations that they found like you said. Rules on mining there might have been changed a bit and might not be so strict anymore which might be why there hasn't been much news about mining there recently, but either way it's really not worth mining in a place where electricity isn't stable and things aren't stable in general.

There are plenty of podcast interviews out with those who live or have lived in Venezuela that describe how hard it is to get mining equipment into the country, corrupt govt agencies making deals with miners, those same agencies stealing equipment to use in their own farms ... Those (whoever advised on moving to Venezuela) who make the choice to distance themselves from international politics and reside in a free country will never understand what really goes on outside of their zone. Advice from those individuals should be taken with a grain of salt.