It seems that the Venezuelan government has set its sights on Bitcoin mining. Just as other countries such as China or Kazakhstan did, they have decided to ban it due to excessive electricity consumption that causes cuts in the country's electrical network.
This is an old controversy that has always surrounded Bitcoin and specifically its mining. Either because of the high energy cost that it entails or because of the environmental implications that it can produce. I will not give my opinion on this fact except to say that there were already power outages in all these countries before the invention of Bitcoin and that the environmental problems are much more serious than just electricity consumption.
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But the interesting thing about this situation is whether this new repressive measure by the Venezuelan government can favor or harm Hive in the country. We know that there is a good Venezuelan community that is doing a lot for the adoption of Hive, especially in the Sucre region.
I think it is not good news for Hive because usually repression leads to more repression. But it would be interesting to know a little about the reflection of the Venezuelans from Hive. If they see this as a problem or as an internal power struggle that will not affect the general cryptocurrency market.
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