thecoinrepublic.com
Venezuela is all set to open the doors of the crypto mining museum for the public to witness the evolution of bitcoin mining and its history. People can experience the evolution of equipment that is used for mining cryptocurrency.
Those who are interested in Bitcoin mining and want to know the nuances of it can experience it in Venezuela which has opened its doors to welcome crypto enthusiasts to experience the historical evolution of the equipment that is used for the extraction of the cryptocurrency.
Yes, we are talking about the Bitcoin Mining Museum where visitors can enjoy the history of mining and the tedious process, integrities involved in mining a cryptocurrency. The museum will open its doors for the public on July 17. The people can see the sample of the platforms used by miners from the beginning, like CPU, through GPU and FPGAs. One can also witness specific integrated circuits used for mining in the era of application. They are known as ASIC chips.
Need for the crypto-mining museum
The museum was developed by a group of cryptocurrency enthusiasts. They were in the business of mining in Venezuela for 9 years and formed the company CryptoAvila. The reason to launch a crypto-mining museum is very important and close to their heart.
It was opened to show the public how the equipment used in crypto mining is not only a part of history but it is an evolution that has an important role in changing the world. The evolution can be seen now. The working process has evolved.
Joan Telo, one of the company’s members has said that the reason to open this museum is there is no place or at least not publicly where people can witness evolution, which is necessary for a healthy society. The museum has its story to tell to the public via its design, models displayed, teams worked upon. The story told by the models also tells a scam that harmed people who tried to mine bitcoin during that time.
Model Mine
The museum also offers model mines that visitors can experience and learn on how to build safe electrical installations to connect their ASICs and all the details related to crypto mining. ATI 5850 video card is also on display. It is one of the graphics card models for bitcoin mining.
It was one of the best GPUs but there was a worldwide stock failure. It happened because of the capacity of the cards for mining. Now the idea is to add equipment to the museum as it will be a world reference place for the evolution of crypto mining.
Miner migrated to LA
Bitcoin Mining is embraced in Latin American countries. But it had to quit China, which was its focus earlier because of the recent repression of the country against cryptocurrencies and mining activities. Earlier China used to emit 60% of the network’s processing power. However, with the increasing repression of the country, the miners were forced to leave the country and settle for other locations like Kazakhstan, North America, and Latin America.
Here Latin America is playing a crucial role in mining processes as the country is writing a new history altogether. The best examples of welcoming cryptocurrencies and mining are El Salvador, where bitcoin is legal, and Argentina. Both countries have the potential for Bitcoin mining.
Among the 10 countries which have the most presence of bitcoin mining are Venezuela, a Caribbean country with 0.42% of the total hash rate, Paraguay with 0.29%, Mexico, Dominican Republic, Columbia, Argentina, and others in Central America together represented more than 0.25%.