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RE: Bitcoin mining can be a terrifying nightmare in Venezuela

in #vincentb7 years ago

Thanks for posting. Why this type of behavior by governments never stops is hard to say. It seems that it is part of the evolution of every society and every industry. Hard working citizens with ingenuity get taken advantage of by manipulative sycophants. Just think how important these miners could be to helping bring economic expansion to their country. The motivation to learn how to mine coins would leap to young people getting involved with tech on a broader level. Instead they get punished. The best thing for us to do is keeping posting and talking about these issues.

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The key here is "control". The government wants to stablish official mining facilities and announcing that they want young people to "work" on these. The truth is you don't need many people to run these mining "farms" and my best guess is that they want to hire a bunch of people (and pay them something close to a minimum wage, about 4US$ a month here) to inflate the employment rates, while keeping for themselves all the mined cryptocurrencies