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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 i

by kbart 10y ago

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

amenod 10y ago
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.
- nickik 10y ago
  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.
- v768 10y ago
  At this point it's not about capitalism or socialism really, it's mostly years of terrible administration, creating money black holes.
- ue_ 10y ago
  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.
- VMG 10y ago
  > The article seems very anti-socialist: Is that bad?

by kbart 10y ago

amenod 10y ago

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.

nickik 10y ago
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.
v768 10y ago
At this point it's not about capitalism or socialism really, it's mostly years of terrible administration, creating money black holes.
ue_ 10y ago
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.
VMG 10y ago
> The article seems very anti-socialist: Is that bad?