in

The Museum of Bitcoin Mining opens its doors in Venezuela. Is it the first in history?

Compartir

Tweet

Compartir

Compartir

E-mail

The Caribbean nation of Venezuela continues to register first in the book. Arguably they have the first CBDC, the infamous Petro, and now this. The first Bitcoin mining museum. And although Bitcoin is only 12 years old, the idea makes sense. Everything has been moving too fast in that field, someone needs to record it and preserve the past.

Related reading | Renowned Bitcoin Artist Encourages Venezuelan Artists to Spread BTC

Since January 17, the space is open to the public. The Bitcoin Mining Museum is located in the Xerox de Chacao Tower, in Caracas. CriptoAvila, a mining equipment distributor, is both a creator and an operator. Joan Telo, representative of the company, told CriptoNoticias:

“We decided to take this step because, until now, there is no, or at least not publicly, a place where people can observe evolution and we felt it was necessary. Each team, each make and model that we will exhibit has a story to tell, either because they have been transcendental in the history of mining or because they represented obstacles. Within this story, there are also scams, teams that ended up damaging many people who tried to mine bitcoins at the time. ”

BTCUSD Price Chart - TradingView

BTC price chart on Bitstamp | Source: BTC / USD on TradingView.com

A Bitcoin Mining Museum That Teaches

The museum will also house a model mine, with which visitors can learn how the whole process works and “build safe electrical installations to connect their own ASICs.” Among the pieces on display is an AMD ATI 5850 graphics card. About this, Telo said:

“It was one of the best GPUs, but just when people started using them, there was a worldwide stock failure like the one we are experiencing now. It happened precisely because of the cards’ mining capacity. It was the first time that there was a global inventory failure caused by bitcoin mining. Now, our idea is to add equipment to the museum as we get it, because we want to be a world reference in this subject of the evolutionary process of cryptocurrency mining ”.

To close the article, Criptonoticias gives us interesting statistics about Bitcoin mining in Venezuela:

Venezuela, even since last year, is among the 10 countries with the largest presence in Bitcoin mining. At that time, the Caribbean country registered 0.42% of the total hash rate, although at times that figure has been higher.

Not everything is rosy for Bitcoin miners in Venezuela

In other news, on July 15, Venezuelan police detained six people in Puerto Ordaz for operating an unregistered mine. They had 25 unlicensed ASIC miners that were seized. However, the non-governmental organization Asociación Nacional de Criptomonedas or ASONACRIP, informs us that the miners are once again free. According to Criptonoticias:

Related reading | How Bitcoin is the answer to the oil supply stuck in the Venezuelan sea

Through a statement, ASONACRIP celebrated the action of the state entity to achieve the release of the miners. In this regard, the organization stressed that digital mining activity is legal in Venezuela and operating miners without a license represents a crime punishable by fines, but not a crime. In other words, the miners cannot be stopped.

So yes, the regulation of Bitcoin mining through strict registration is not going that well in Venezuela. At least they are trying new things and breaking eggs. And they have the first Bitcoin Mining Museum.

Featured Image from Shutterstock | Charts by TradingView

Covid-19: doctors and nurses in Madrid mobilize due to the collapse of Primary Care

A side of Mineiro will miss the game against Boca when he is sanctioned for going to a party