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A comment on Venezuela arrests 4 bitcoin miners as trading highs continue. Parent comment

Re:Venezuela arrests 4 bitcoin miners as trading highs continue by fennecfoxen on Thursday January 26, 2017 @12:41PM (#13493397)
The main point is that you need to be holding a currency that isn't the bolivar, because the year-over-year inflation rate is something like EIGHT HUNDRED PERCENT as of Dec 2016.

USD, Bitcoin, commodities, food ... anything has better return than that.

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Re:Venezuela arrests 4 bitcoin miners as trading highs continue by v768 on Thursday January 26, 2017 @02:33PM (#13494494)
800% is soooooo 2016. The International Monetary Fund is planning 1600% for 2017. http://www.forbes.com/sites/timworstall/2016/07/19/congratul...
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Re:Venezuela arrests 4 bitcoin miners as trading highs continue by jimmywanger on Thursday January 26, 2017 @03:59PM (#13495209)
Yeah. I think the point I was addressing is that if you had government contacts, you wouldn't need bitcoin.

You'd be squeezing your contacts for hard currency, which is simultaneously more lucrative and easier than mining bitcoin. Bitcoin is for people who are locked out of official exchange rates.

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