Can the venezuelan crisis be solved by the government mining bitcoin?
I'm assuming you know about the situation in Venezuela, the people have lost all faith in the currency due to unbelievably high inflation, the government has no way to generate profit as it heavily relied on oil, the country has a debt to pay and less than no money to repay, a large number of the population have started mining and using bitcoin and this has helped in a dramatic way as they can use it as a medium of exchange since there currency isn't widely accepted due to its inflation rate, crime is on the rise mostly due to people starving and stealing food which isn't available due to the crisis. They basically have no medium of exchange to use in order to receive food and healthcare, so what if...
the government starts mining bitcoin, it already has a large number of people experienced in it they could use them to develop a project to build a colossal mining rig, it could even distribute them with each site mining a specific coin, think of it as mining gold, thats normal for a country to do, bitcoin is just more valuable, so why not, once it receives its profits it could use the money to buy necessities such as healthcare and food as importing using bitcoin won't worsen the Venezuelan currency, at the same time the government develops its agriculture and other profit generating resources it has and pays back its debt with the money generated from the agreculture and slowly slips out of inflation.
also if the UN would organize donations so people could donate in bitcoin to an office that would have the wallet addresses of people in need and it would send them enough bitcoin that they can use by going on a website in lets say the US that has a package with (rice, flour..)they could buy it and receive it in venezuela where it is needed
I may be wrong with is why i would appreciate feedback as i am also thinking of writing my dissertation on this matter.
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