Re:Bitcoin backlash as ‘miners’ stress power grids in Centra...
by paulgb on Sunday May 27, 2018 @04:57PM
(#17169063)
> Take a look at what is happening in Venezuela with bitcoin
Is anybody actually using Bitcoin as a currency in Venezuela? I can only find references to people mining excessively there because the electricity is so subsidized.
Take a look at what is happening in Venezuela with bitcoin, and you will see why your statement is wrong. The fact bitcoin, an open source project, continues to flourish with some of the brightest minds in computer science ten years after its foundation speaks to its core strength: the removal of trust.
I sold an old phone through traditional fiat a few months ago, it took paypal 3 weeks to process my payment. With bitcoin, I could have been paid with in the hour.