Hyperinflation has driven thousands to seek out unorthodox currency.
From The Atlantic.com – Rene Chun In Venezuela, home to some of the worst hyperinflation since the Weimar Republic, a Big Mac costs about half a month’s wages. Or rather, it did, until a bread shortage forced the burger off the menu. The annual inflation rate is expected to hit 1,600 percent. Life resembles an old newsreel: long lines, empty shelves, cashiers weighing stacks of bills.
To survive, thousands of Venezuelans have taken to minería bitcoin—mining bitcoin, the cryptocurrency. Lend computer processing power to the blockchain (the bitcoin network’s immense, decentralized ledger) and you will be rewarded with bitcoin. To contribute more data-crunching power, and earn more bitcoin, people operate racks of specialized computers known as “miners.” Whether a mining operation is profitable hinges on two main factors: bitcoin’s market value—which has hit record highs this year—and the price of electricity, needed to run the powerful hardware.
Continue reading Big in Venezuela: Bitcoin Mining
When there are more ways to MEASURE/Index the the Stocks than there are actual stocks, it is a sign that the system is too complex to be relevant. Get out. Sell Everything Now.
May 12, 2017 8:30 PM
For the first time ever, the number of market indexes now exceeds the number of U.S. stocks…
Continue reading More Market Indexes than Stocks they Measure Heralds the End of Relevancy for Entire Ponzi Debt Financial System