Un minero cripto que opera sin la supervisión del Estado cuenta las dificultades de minar criptomonedas en Venezuela.
- Crypto miner the term “miner” can refer to both the person doing the mining and the device that is used to mine crypto. from Valencia, Carabobo, tells his story
- He says how he juggles to hide his activity
- Fears bribes and threats from authorities
- Mine with graphic cards
- Con precios actuales, gana poco, confiesa
A Venezuelan crypto miner agreed to tell us his story. The first thing he tells us when we contact him is that he won’t give us his name. “Call me Project U, if you want.” He expresses that he feels mistrust: “I don’t know if this is a booby trap to uncover miners contributors to a blockchain taking part in the process of mining. They can be professional miners or organizations with large-scale operations, or hobbyists who set up mining rigs at home or in the office. in Venezuela.”
Their fear is well-founded, as mining cryptocurrencies in the South American country involves many risks as he tells us. “I just saw a video about a fellow countryman who mined here in Venezuela, although it is a video of a year ago, I see myself reflected in the person who told his story, because really here one lives with paranoia in relation to the authorities of the country, fear of bribes, threats, robbery and even put you in prison, without even having a law that considers it so.
It is worth noting that there is no law as such, but there is a decree that “legalizes” a type of crypto mining under very strict conditions. In reality, behind that decree there are currently two types of mining: the first is the one that operates “legally”, as it is registered in the National Superintendence of Crypto-assets and Related Activities, Sunacrip, and operates under un pool centralized a centralized organizational structure is one in which a single node or a small number of them are in control of an entire network. mining company, which was created by decree . However, not all miners have registered in the Registro Integral de Mineros, because many do not want to be under state supervision. Thus, the second type of mining is illegal.
The hidden miner
Project U the miner we spoke to, is 47 years old, lives in Valencia, Carabobo state, a central state in the country where there has been a lot of crypto mining activity. For 21 years and until the 2020 pandemic, he says that he was a trader but then his business was declining until he went bankrupt. He bet on staying in Venezuela and not migrate as more than 6 million compatriots have done. “For a while I lived off my business and mining, I wasn’t rich but I didn’t lack anything in the house, I paid for all my services, I even have 3 Internet service companies, we had all the basics”. Now he can only dedicate himself to crypto mining, with all that it entails.
He doesn’t do it in his house, but in another place he rented as if it were his home. “ I have to juggle to get in and out of there, what I get in and what I get out, either spare parts, equipment in need of repair, boxes or some kind of merchandise that is seen to be computer equipment, because the type of mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. that I am engaged is that of Ethereum, Monero, Ethereum a decentralized open-source blockchain with smart contracts functionality. Classic, Ravencoin and others, which is a mining built with computer equipment, it is more profitable because they are equipment built with accessories and parts of computers gamers independent of mining; therefore, you can sell the equipment more easily on the web, without fear of prosecution or sales ban.”
Looks like a delinquent
He adds: “Besides, they don’t generate noise, because the reason why miners are caught is because of noise, because the neighbors denounce you. They also consume less energy than a mining rig and generate less heat. He insists that he does all this so as not to arouse the suspicions of his neighbours. “because this is supposedly where I live, not where I work.”
There is a reason for their predictions: many miners have been imprisoned or their machines have been taken away from them for operating outside the pool of the government. In this regard, he says:
“It looks like I’m a criminal, when this has nothing to do with crime. Surprisingly, not even a quarter of my friends and family know that I have been doing this for more than four years, for fear that the word will spread a price difference between asking and selling prices of the asset. and I will fall like a fool before the criminals of the CICPC, FAES, municipal police or any other government agency.
People think that mining in Venezuela is easy, but when you’re faced with all this and the constant power outages and internet outages, you know it’s not true.
Faced with his many fears, I ask him if he has experienced any risky situations because of his mining activity that have made him so cautious and fearful:
-Yes, I’ve lived through those situations, because, as I told you, getting to one of the sites that I have rented to have the equipment is a vile process. On the other hand, there was a witch hunt against the miners a couple of years ago that got really heated. I became paranoid, every time I saw a patrol or a person not belonging to the residential complex I became more meticulous, every time I saw some guy in a tie I thought it was a Cicpc. (investigative police).
-Do you know any miners close refers to the closing price; similar to the same term used in stock trading. to you who were imprisoned or threatened?
– Yes, I know two of them and they obviously know about me, they were stormy days, because the cops threatened them, they offered them jail and to take away their houses if they didn’t tell on their mining friends and it was worrying because obviously none of us are criminals and we have never been in those situations, so in that situation you believe everything to these guys. (referring to the authorities).
Learning to be a miner
Le pregunto a Project U how he started with crypto mining and tells:
— I started researching and investigating about Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. more or less between 2011 and 2012, I liked the project. Then in 2015 I saw the birth of Ethereum, I saw that it could be mined with graphics cards. At first, of course, everything was confusing, but the internet world helps a lot on any topic. That was a time when I only had my own business, an ordinary business like any other. I decided to mine to have it as a savings plan, seeing how the value of the pioneer Bitcoin had grown.
-How did you learn to mine with equipment you built?
-Seeing that Ether the form of payment used in the operation of the distribution application platform, Ethereum. could be mined with home computer graphics cards, I saw a greater profitability and better way to acquire the components, being these easily accessible to obtain without any restriction in the country (i.e. it passed through the purchase of any spare part or accessory). Already knowing at the time that it was a team of easy handling and easy to hide because they worked without making noise, without much power consumption, without generating as much heat as a ANTMINER, I met with a friend who is a programmer. He had told me that he already had his first rig (at that time an orthodox structure made of PVC pipes) with 4 graphics cards model R9 390, which was for the moment one of the best. There I got more enthusiastic and I bought one by one the accessories to build an ordinary home PC.
It took me 4 or 5 months to gather all the pieces and start with a GPU and so each time I reached the goal mined with that I was buying another and another GPU between approximately 2 months depending on the reward taken per month and so until today I’m still reinvesting and reinvesting.
-How much money can a miner like you earn?
-Obviously, it all depends on the equipment you have set up. I’m talking about the amount and type of graphics cards you use. For example, at today’s prices, with this ugly downturn we are living, a Rig of 5 graphics cards with a capacity of 4GB each card makes you an approximate of 40 sad dollars per month approximately. The initial investment at today’s prices would be about USD $700, without including the labor that could charge you about USD $100 minimum to assemble, program and configure the complete Rig.
But there are also rigs that generate between USD $350 and 450 per month currently (the 5 GPU 3090 and 3080 10GB) but obviously they are current GPUs, higher prices ranging between USD $800 and 1000 each graphics card. We are talking about USD $5,500 investment. All this at today’s price and the drop that the market an area or arena, online or offline, in which commercial dealings are conducted. has had this year. And not to mention the power outages and Internet in Venezuela.
Interview by MRTabuas/ DiarioBitcoin
Imagen de Unsplash