28 Nov '16, 2pm

The Secret, Dangerous World of Venezuelan Bitcoin Mining

Most bitcoin users in Venezuela aren't libertarians, Brito says, but it doesn't matter because libertarian principles are built into the technology. Bitcoin is highly resistant to government interference, since it's the first widely accepted digital currency that can be traded without clearing the transaction through a third-party intermediary, such as a credit card-company or a bank. It's like cash in this regard, but bitcoin has a significant advantage over paper currency: It can be exchanged through the internet, so it makes no difference if a buyer and seller live on opposite sides of the world.

Full article: http://reason.com/archives/2016/11/28/the-secret-dangerou...

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