Bitcoin Mining History Museum opens its doors in Venezuela – Bitcoin News

A new museum on the history of Bitcoin mining was opened in Venezuela last weekend. The institution allows 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 by Criptoavila, a mining company.

Bitcoin Mining History Museum debuts in Venezuela

A newly created museum dedicated to the history of Bitcoin mining opened its doors to the public last weekend in Venezuela. The new initiative from Criptoavila, a private company whose members have nine years of mining experience, aims to introduce people to the world of Bitcoin mining. The museum, which is located in Caracas, is open to all visitors and entry is free.

According to Criptonoticias, the exhibition will show the evolution of Bitcoin mining since the origins of the Central Processing Unit (CPU) and go through the mining phase of the Graphics Processing Unit (GPU). Then finally arrive at the current era of application specific integrated circuits (ASIC) or integrated circuits (IC) mining that the industry is living through. One of the goals of this museum is to raise awareness of Bitcoin mining among the general population, as Joan Telo, a member of Criptoavila, said. He emphasized:

We decided to take this step because so far there is no or at least no public place where people can observe evolution and we thought this was necessary.

Telo also announced it will add new equipment to keep up with the latest trends in mining. He defined:

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

Bitcoin mining has a dark background in the country

Venezuela’s government has now recognized and legalized Bitcoin mining in the country, but this has not always been the case. Miners in the country often worked underground and there have been some horror stories of authorities abusing miners, arresting them and confiscating their mining equipment.

Now times have changed and miners only need to be registered and licensed by the national cryptocurrency watchdog (Sunacrip) to work. However, some still work without these permits due to apprehension and general ignorance, making them vulnerable to equipment seizures and government fines. For example, 400 mining machines were confiscated in two factories in June due to a lack of permits.

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

What do you think of Venezuela’s first Bitcoin mining museum? Let us know 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

Photo credits: Shutterstock, Pixabay, Wiki Commons

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