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Cryptocurrency  If you want to see first hand how cryptocurrency functions in a market outside of speculative investing, right now, Venezuela is an interesting place to look. “Venezuela could become a case study repeated all over the world under certain conditions,” said Jeffrey A. Tucker, editorial director of the American Institute for Economic Research (AIER), in correspondence with  Bitcoin Magazine . “Crypto is there as the escape hatch, the way out, a tool of emancipation. If you have a power source, you can mine. If you need to save or trade or move your wealth, crypto is there for you.” Crisis-Catalyzed Currency Venezuela has been in economic recession for more than a decade. As a result, the government has maintained strict control over its currency, the Venezuelan bolivar (VEF), since 2003. Venezuela’s most abundant resource is oil. It is the fifth largest oil exporting country in the world, with the largest reserves of non-conventional oil (extra-h...

Is mining Bitcoin or any other digital currencies still profitable? It’s a question many are asking, but the answer may vary depending on the person. Digital currency mining has proven to be extremely popular over the last years, as it has been an easy way to earn “free” money and allowed people to accumulate their cryptocurrency portfolio. Claim $500 Worth of Bitcoin from PayPal “Mining” is the term used for creating new digital coins. Each miner will be part of an online mining pool, and together they will solve mathematical algorithms that authorize transactions and yield the rewards of new coins of the respective currency (e.g. Bitcoin, Litecoin, and so on). In order to measure the power of one’s mining capabilities, people call it “hashing power,” which is in the number of calculations done per second. The more hashing power one has, the more digital currency they can earn. Sounds easy, right? Well, it used to be something not many people participated in, and you c...