Many people from Venezuela began to beat the bitcoins in order not to die of hunger.

The economy of the once prosperous South American nation has sunk to the very bottom over the past few years. President Nicolas Maduro Policy transformed the country with a margin of more oil than Saudi Arabia, in a real hell on Earth.

The only hope of Venezuelans was bitcoin. Many are now hijacking the digital currency in order to simply survive.

A desperate situation The current crisis is further exacerbated by the continuing seizure of power by Nicholas Maduro and his allies. A constitutional assembly was formed, which became the highest governing body for all other state bodies. This assembly, under the control of Maduro, dismissed the country's chief prosecutor (who opposed Maduro), created a "truth commission" and now promotes support and solidarity with Maduro. So far, at least 124 people who have protested against this system have been killed.

Bitcoin can save people from death Residents have an unexpected savior in the form of bitcoins. The Atlantic reports that many desperate Venezuelans have begun to mine to feed their families. This became possible only because electricity in this impoverished country is almost free, since the central government completely subsidizes it.

Cheap electricity allows people to mine without much expense. Successful bitcoin miners can earn up to $ 500 a month, which is quite enough for keeping a family of four. Since the country's currency is practically useless, many businesses and people now use bitcoins to exchange goods and services.

The government learned about this and began actively cracking down on the miners, calling them "capitalistic parasites". Several miners were arrested, but the charges were dropped, since in Venezuela there are currently no laws on the use of crypto currency. Only their equipment was seized and there is an opinion that police and government officials use it for mining.

But people found a way out of this situation. Since the authorities focused so much attention on bitcoin, many began to mine Ether. In an interview with The Atlantic, the Venezuelan miner said:.

"It does not matter whether you get ETH or bitcoins, the principle is the same:

using free electricity to generate cash. But the ETH canoe is easier, since all you need is free software and a PC with a video card. Any policeman can easily be deceived, saying that you have an ordinary computer, and not equipment for mining ".

The advantage of crypto currency is that they give at least some hope of getting out of the economic impasse to millions of people. In the case of Venezuela, this, in the literal sense, is a matter of life and death.