The cryptocurrency mining in Venezuela and its steps .

1. The cryptocurrency mining in Venezuela and its steps. Members: Greiverd García Gilbery Castro Pedro Yánez Ronny Santaella Israel Pérez Teacher: Miller Verde

2. ¿whatismining? • Mining consists of mathematical operations that verify the validity of transactions in bitcoins using powerful computers. The machines that practice it are rewarded with bitcoins that can be exchanged for dollars or other cryptocurrencies. ¿Is it safe to opt for bitcoin mining in Venezuela? Currently, the government is trying to suppress the use of cryptocurrency. Given that in Venezuela there is no legislation on cryptocurrency, the police have arrested 'miners' on charges such as "electricity theft" or "contraband." For this reason, many miners have moved to the mining of other cryptocurrencies that are more complicated to trace, such as the ethereum.

3. Cryptocurrencymining in Venezuela • In our country there is a constant inflation and economic crisis that has forced many families to look for other ways or methods to obtain economic resources to survive. Currently the President of the Republic, NicolásMaduro, established that the Petro currency can only be mined by the state. In this way, the chief executive ensures that a standard price can be maintained. Thus avoiding price speculation, the steep ups and downs. Because the intention is that the price is maintained to strengthen the national economy. However, you can access the Petromoneda through an auction system. As well as you can receive payments, transfers and deposits from Petro in your digital account or Wallet. • The National Executive announced the creation of the Superintendence of Cryptoactives (El Petro) and with this, questions have been raised about the operation of this instance and the Blockchain Observatory in which users have until January 21 to register. So far, according to the Official Gazette N 6.346 The Petro is about Venezuelan oil quoted in the OPEC basket, gas, minerals such as gold, diamond and coltan. To enter the world of digital mining in Venezuela it is important to take into account a series of steps that we present below.

4. Steps to undermine according to the superintendency • 1) Ingrese en el portal web Blockhain.gob.ve • 2) Regístrese. • 3) Introduzca sus datos. Cédula, nombre y apellido, correo electrónico. • 4) Espere un correo de confirmación de su registro. • 5) Vuelva a ingresar. • 6) Introduzca sus datos nuevamente incluyendo esta vez, su número teléfono, Rif, nombre de la empresa y el tipo de monedas que mina. • 7) En la parte superior derecha de la página web verá unos recuadros que le dan la opción de actualizar datos, agregar equipo, actualizar contraseña y PDF. En el segundo botón se desplegará un formulario en el que deberá ingresar las especificaciones de su equipo.

5. How to start in cryptocurrency mining • For now "El Petro" does not exist, the government is implementing the creation of the Blockchain and through this it is presumed that an auction could be made that would allow the transactions to be made. They would automatically give way to mining and therefore to carry out operations in "Petros". To start mining you must: - Buy the machine An "anti-money", as these crypto-generating machines are called, can cost from $ 200 up to $ 5,200 completely new in Amazon. In order to see profit for the business, you would need a minimum of four or five antminers, with this you will obtain profitability and have cash flow. The function of these devices is to solve mathematical problems of the Blockchain.

6. Create a farm Farms are places where hundreds of computers operate. The more miners you have working, the higher the income, although it all depends on the value of the cryptocurrency and the behavior of it, in the case of El Petro, it is not clear how the business will start or how the government will make the petros The participants, for now the only thing that is known about this is that a Petro will be equivalent to one barrel of oil from the Venezuelan reserves, according to Official Gazette No. 6,346. • - Take into account the negative factors The consumption of electrical energy, the heat generated by the miners / computers and the infrastructure that these must have for their proper functioning, are the main obstacles that you must face if you want to enter this business. • Decree 3.196 published in Gazette 6.346 explains the regulations of the Superintendency of Cryptoactives and also details the functions of Petro's owners, the exchange process and ensures that the initial placement will be done through an auction or direct assignment made by that entity .