Home Museum institution Bitcoin mining history museum opens in Venezuela – bitcoin news

Bitcoin mining history museum opens in Venezuela – bitcoin news

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A new museum dedicated to the history of bitcoin mining opened in Venezuela last weekend. The institution will allow visitors to learn about the history of cryptocurrency mining, from its roots to the current state of the mining industry. The museum is part of a private initiative launched by Criptoavila, a company dedicated to mining.

Bitcoin mining history museum debuts in Venezuela

A new Bitcoin mining history museum opened to the public in Venezuela last weekend. The new initiative launched by Criptoavila, a private company whose members have nine years of mining experience, aims to introduce people to the world of bitcoin mining. The museum, located in Caracas, will be open to all audiences and admission will be free.

According to Criptonoticias, the exhibition will show the evolution of Bitcoin mining from its origins in the central processing unit (CPU), through the extraction stage of the graphics processing unit (GPU). Then finally come the current era of mining application-specific integrated circuits (ASICs) or integrated circuits (ICs) experienced by the industry. One of the goals of this museum is to educate the general public about bitcoin mining, as Criptoavila member Joan Telo said. He underlined:

We decided to take this step because so far there is no, or at least not publicly, a place for people to observe evolution and we felt it was necessary.

Telo also said they will add new equipment to keep up with the latest trends in mining. He declared:

Our idea is to add equipment to the museum as we get it because we want to be a world reference on this issue of the evolutionary process of cryptocurrency mining.

Bitcoin Mining has a dark background in the country

While the Venezuelan government has now recognized and legalized bitcoin mining in the country, it hasn’t always been so. Miners across the country often operated underground and there have been horrific stories of authorities abusing miners, arresting them and confiscating their mining equipment.

Now times have changed and miners only need to be registered and authorized by the National Cryptocurrency Watchdog (Sunacrip) to operate. But some still operate without these permits due to fears and a general lack of knowledge, making them vulnerable to equipment seizures and government fines. For example, 400 mining machines have just been seized during two operations in June due to a lack of permits.

According to the University of Cambridge, Venezuela was among the top ten countries in the world to provide hashrate for the Bitcoin network (BTC), with 0.42% in April of last year.

What do you think of the first Venezuelan Bitcoin mining museum? Tell us in the comments section below.

Tags in this story

ASIC, Bitcoin mining, BTC Mining, CPU, criptoavila, Cryptocurrency, GPU, IC Units, joan telo, museum, Sunacrip, Venezuela

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