Venezuela Creates State Run Crypto Exchange & Legalize Mining With National Mining Pool
I've been a seeing too much bad type of crypto adoption in the recent months. More attention is on crypto markets with PayPal, Square etc. Now government of Venezuela is part of that. The crypto exchange is backed by National Superintendency of Crypto Assets and Related Activities (Sunacrip)
https://vex.sunacrip.gob.ve
This is the face of a government that has yielded itself to crypto but still wants to maintain as much power as possible. You can login with your Petro App. Venezuelan government ahs blocked and driven away almost all the foreign crypto exchanges from operating within the country. People of Venezuela is stuck with DEXs and P2P exchanges to trade crypto.
Petro (PTR), Dash, Bitcoin & Litecoin Available For Trading
You can got to https://sunacrip.gob.ve for all the information. There's no English version. Above is a screenshot I took after translating the page with Google Translate.
Mining Will Be Licenced Under National Superintendency of Cryptoassets and Related Activities
They couldn't shut down crypto or crypto mining. Now government wants to have full control over decentralized finance of the coutnry after wrecking the economy by idiotic poison of socialism. National Digital Mining Pool of Venezuela is the 1st of its kind. If you want to mine legally, or even import mining equipment it is mandatory to be registered in their database. More info here.
Don't Allow This To Be A Blueprint For Other Nations
With COVID-19 lockdowns governments have destroyed economies. I know you guys are happy with all the institutional money flowing into crypto. But none of it is true "Be You Own Bank" decentralization. Push for real DEX and real ownership of assets without giving custody to single points of failure. Even as a country facing massive economic problems, people of Venezuela have done well to take care of finances and support crypto. Take them as an example and stay ahead of the government. Mining was illegal & they still managed to become a nation of crypto miners.
Venezuela Is #10 In Global Crypto Mining Hashrate
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the world combined :).
Unfortunately all that hashpower is major majority Centralized.
My wish is for all people to be 'miners' no matter how small.
Staking kind gets this done. I don't have much money for a great ASIC. But I can stake even a tiny bit of crypto and earn rewards for it.
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El uso de la tecnología blockchain pierde su sentido si no opera de manera descentralizada.
Can't stop governments from trying. we just need to promote the real decentralized solutions more :)
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This is and has been just awesome for Venezuela. Thanks for the report.
I am still surprised at Malaysia's power.
China dominates with cheap power and all the ASICs.
Why are the others not producing ASIC tech? This is a huge issue imo.
Reblogging this thanks.
#4 #5 #6 #10 were all surprising spots for me. I guess ASIC are hard to engineer and produce. Most of the ASICs are Chinese imports anyways. Some countries could be having too high electricity costs and some countries could have people who are less interested in Mining.
Eg: Japan and S.Korea has huuuge interest in crypto. They are still not in the top 10.
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