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Re:Venezuela arrests 4 bitcoin miners as trading highs continue by kbart on Thursday January 26, 2017 @09:30AM (#13491602)
There was an interesting article few months back about Bitcoin mining in Venezuela[0].

TL;DR "Bitcoin mining is arguably the best possible use of electricity in Venezuela because it's providing the country with what it needs most—a relatively stable currency that retains its value across borders."

http://reason.com/archives/2016/11/28/the-secret-dangerous-w...

Re:Venezuela arrests 4 bitcoin miners as trading highs continue by amenod on Thursday January 26, 2017 @01:21PM (#13493792)
The article seems very anti-socialist:

> ... making life tolerable—if not always easy—in the midst of a socialist hell.

I have no idea how it is in Venezuela, but as a citizen of former socialist / now capitalist republic I take such articles with a grain of salt.

One could also argue that they are basically stealing the (heavily subsidized) energy from other citizens of Venezuela. In capitalism such thing would be normal, but in socialism it is far from it.

Re:Venezuela arrests 4 bitcoin miners as trading highs continue by nickik on Thursday January 26, 2017 @01:26PM (#13493835)
No. In (idea) capitalism it would be normal for the energy to be sold and a price emerging from the supply and demand.

They are not 'stealing' the energy 'from other citizens' they are using the energy that the bad repressive government of Venezuela provides. Its the governments prorogative to subsidize energy, and they have to deal with the consequences.

I however agree that 'in the midst of a socialist hell' is not an apportierte way to write an article.

Re:Venezuela arrests 4 bitcoin miners as trading highs continue by v768 on Thursday January 26, 2017 @02:28PM (#13494448)
At this point it's not about capitalism or socialism really, it's mostly years of terrible administration, creating money black holes.
Re:Venezuela arrests 4 bitcoin miners as trading highs continue by VMG on Friday January 27, 2017 @06:25AM (#13499116)
> The article seems very anti-socialist:

Is that bad?

Re:Venezuela arrests 4 bitcoin miners as trading highs continue by ue_ on Thursday January 26, 2017 @02:56PM (#13494720)
For a website billing itself as "reason.com", it seems very unreasonable to be saying that Venezuela, which suffered many economic problems and still does, without any worker control of the MoP, is "Socialist".

The only reasonable thing about free markets is that they bring home the bacon from the exploitation of the proles. How wonderfully "free", to be forced to sell your labour and be treated as any other commodity.