I mined BTC last time then I just keep rolling over my fund until now through Poloniex.

Just started mining ETH using GPU again recently as I see that it is a good time to jump in now.

Easier to resell the mining rigs in future as well as all parts are salvageable. Just tweaking and testing very time consuming at beginning.

Just now you said a hungry Venezuelan with no money, now you're talking about Venezuelan with a mining machine from years ago. Make up your mind. If a Venezuelan has mining machine from years ago means he HAS money and he is not hungry.

And now you're saying they should sell their car and buy/mine bitcoin with the money they get from selling their car and then use bitcoin to buy food? Seriously? Lel.

You won't be able to afford and sustain any rigs that are capable of doing so

so you count bitcoin as money??something valuable,that can be converted into food??

http://money.cnn.com/2017/05/03/news/econo...ices/index.html By using this site, you agree to the Privacy Policy and Terms of Service.

International +



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Venezuelans are losing weight amid food shortages, skyrocketing prices

By Stefano Pozzebon and Patrick Gillespie May 3, 2017: 10:47 AM ET
Mariana Mejias can't afford to buy a bag of rice in Venezuela.
She lives in Mariche, an extremely poor neighborhood in the country's capital, Caracas, which suffers from severe food and medical shortages like the rest of the country.
If the government doesn't provide a subsidized monthly bag of food, Mejias would go hungry. Skyrocketing prices have made food at her local market prohibitive. The monthly food bag, worth 10,000 bolivares ($2.25), includes rice, milk, pasta, beans and a few other items.

A bag of rice at Mejias' local store goes for 8,000 bolivares -- out of reach for her monthly income of 219,000 bolivares or $49 on the unofficial but often used exchange rate calculated by dolartoday.com.
"Things are horrible here, I don't know how people are even surviving," says Mejias, a 62-year-old house cleaner who earns minimum wage plus a government pension.
Related: GM officially leaves Venezuela
Venezuela's socialist government, led by President Nicolas Maduro, raised the minimum wage 60% on Sunday to 200,021 bolivares ($45) a month, including food stamps.
But that won't buy much at the supermarket.
In March, a basket of basic grocery items -- including eggs, milk and fruit -- cost 772,614 bolivares, or close to four times the monthly minimum wage, according to the Venezuela-based Center of Social Analysis and Documentation, or CENDAS in the Spanish acronym.
Food shortages and soaring prices have led to troubling results. Last year, the average Venezuelan living in extreme poverty lost about 19 pounds due to the lack of food. Many of its citizens had to skip meals, according to a national poll.
Related: Venezuela raises minimum wage 60%

The food crisis is worsening as Venezuela dives deeper into chaos. On Monday, Maduro issued a decree that may allow his party to rewrite the country's constitution more to its liking. On Tuesday, Maduro suspended Venezeulans' right to carry firearms as weeks of anti-government protests stretch into the spring.
Amid the political chaos, food price hikes are staggering. A carton of 30 eggs cost 9,600 bolivares in March, up from 1,180 bolivares in March 2015, CENDAS reports.
"Food prices have gone sky high and the minimum wage is not enough for basic needs," says Eugenia Morin, 59, who describes herself as a middle-class housewife. She protested against Maduro on Tuesday.
While the 60% minimum wage hike may sound significant, inflation is expected to rise 720% this year and over 2,000% next year, according to the IMF. One bolivar is worth less than one cent.
Prices for basics are skyrocketing each month. Compared to February, prices in March for milk and cheese rose 33%, meat 19%, fish 17% and fruits 14%. Even mayonnaise cost 11% more.
Related: Venezuela only has $10 billion left

That's only the beginning. For toiletries the increases are even worse. Deodorant prices shot up 93% in March from February; detergent 62%; shaving razors 53%; toilet paper 27%.
Venezuelans either face food and toiletry shortages at supermarkets with empty shelves -- or skyrocketing prices for whatever items are available.
Medical shortages also illustrate the country's humanitarian crisis.
"If you need to have an operation, nowadays, you must bring your own medicines to the hospital," adds Morin, the housewife. "There are no supplies to attend the most basic emergencies."

Related: Cash-strapped Venezuela gave $500k to Trump's inauguration
Food shortages are the result of the government's long running policies. It focused on exporting oil and largely abandoned its abundant farmland. The government started importing the vast majority of food for its citizens.
But even when oil prices were high, that policy was barely sustainable -- food shortages starting popping up when oil was worth over $100 a barrel.
But with oil now hovering around $50 a barrel, Maduro's administration can't afford to import enough food and also pay down its debts to foreign creditors. For now, it's prioritized debt payments over shipping in food.
That end result: rising hunger and no visibility of where the next meal will come from.
One Venezuelan spent hours on Tuesday morning in Caracas waiting for a grocery store to open, hoping to buy food. The 60-year old man, who declined to give his name, wasn't hopeful he'd be able to buy food.
"Nobody knows what's going to arrive or what we could find inside. So we queue almost every day of the week, losing time and working hours to look for food," he said.
May 03
CARACAS

Focus on last paragraph please

Lel, you obviously lack comprehension.

Please go back to school.

Can buy MacBook pro cash

Why are you so angry. You didn't answer my questions on how food prices. Etc. You even didn't at lest find out using Google . Yes it's matter to me. I looking at possibility that our country might end up that so I can learn from it. Of course that's those not matter to u anyway

Copy and paste without even answering my question.

Typical sheep that can't think for yourself.

lol

where your long long point

bitcoin is godsent to venezula blackmarket...........wif hard cash ,they might not be so lucky,everhting restricted

wif bitcoin they can buy on the net

it just wasnt dawn on you that people could just donate that bitcoin to their citizen,who sympathy wif em

Ah so you're thinking Malaysia is going to be like Venezuela? Really?

Okay dude, if that's what you think then by all means go ahead and throw all your money in bitcoins.

with USD, they can also buy from the net

and we can also send euro to them, they can even buy nike with euro

why would i send bitcoin, and then they convert the bitcoin to euro and buy nike ?

For BT, GC just dont cut it.

you need an asic antminer s9 x 2 , im not really sure whats the probrability now, last it was 0.3 btc per month? cost usd2k per asic miner maybe mroe, needs to buy a separate power supply with at least 1600w and you have to factor in the electricity cost, need some sort of cooling and ventilation in the room that your mining and also its very very loud.

I've said all my points but sadly you can't comprehend them so no point arguing with you anymore and man, what cancerous English.

Still, what happens in Venezuela is not going to make you any richer here, lel.

how the fuck u gonna send usd there???

even tourist got robbed by their citizen

Don't bother. In his mind, there's only one cold hard cash currency and that is Venezuelan bolivar.

It's obvious he's a bitcoin die hard fan.

very obvious isnt it?

dude can just create and paypal and i send to him

dude can just create an alipay or wechat account and i send to him

if he has internet to do transaction in bitcoin, he has internet to do transaction in any currency

lol,this is k,mangrish expected

but now u know there is a point rite,alteast one,wif this crypto,lol

well,if they blow their all their car on foods,they could survived for weeks

but if they obtain a "money printer",they could survived for months,lel