after fiat money was abandoned and replaced with cryptocurrency, now they are faced with electricity problems, and this is indeed very bad for their economic development, of course electricity is the main factor for crypto
Cut the bs, nobody abandoned anything.
The bolivar is still used and when it's not it has been replaced by the $.
There are 30 000 000 people in that country, do you imagine how the blockchain would look if everyone would make a tx a day?
Want more?
Yes please. Mongolia.
While many local coal mines closed after prices dropped, the area remains notable for cheap, abundant, coal-powered energy, which helps explain the presence of a sprawling, electricity-hungry bitcoin operation in what feels like the middle of nowhere.
One example that "might" use green energy isn't contradicting the fact that the above use coal and gas.
And no matter how many use green energy, it's still a myth that bitcoin miners user only green.
Get over it, miners are not some treehuggers that want to serve the universe, if it would cost 1cent/kwh they would use electricity made by teddybears slaves turning wheels in some dungeon.
When Chavez was the president of Venezuela, they were actually doing quite well. Medicare was free and gasoline was available at $0.1 per gallon. But Maduro proved to be really incompetent. He should just step down and take a flight to Cuba.
Maduro can go away and nothing will be fixed.
Without an increase in oil prices, Venezuela is the same as sub-saharian Africa.
There is no magic cure other than oil, the others are painful and will require years after years of reconstruction.