This is one area that Bitcoin can really be helping a country and their citizens at least even just to survive as they are still experiencing the great fallout from many failed economic policies in the past. It is actually for their government to shift the direction and accept that the past experiments had failed them miserably. Good thing that there is a Bitcoin that can make a good rescue.
Now, who can be saying that Bitcoin can destroy a country's economy? I think it can be a builder, instead.
Topic: [2017-07-08] Venezuelans Keep Surviving Government Failures Thanks to Bitcoin a (Read 900 times)
July 15, 2017, 03:14:20 AM
July 14, 2017, 06:09:54 AM
I am glad to hear that a bad economic country is now going to help the who have an investment in Bitcoin. there are a number of mining farms in Venezuela because electricity is cheap. in that scenario, Bitcoin will be the blessing for people.
July 13, 2017, 08:42:45 AM
I thought I commented this topic already, but I also have a friend on Facebook from there and we talked recently about the horrible situation inside the country. I asked him about Bitcoin and he answered that he have heard about it, but don't know how to use it. The last couple days in helping him to join the forum and the community. I hope I will help him in this economic situation and mass unemployed with some little stable income through bitcoin.
I'm sure that you helped not only one person, but all friends and relatives of this person. It is unfortunate that few residents of this country are keen on bitcoins. This could save their capital from inflation
July 13, 2017, 08:16:57 AM
I thought I commented this topic already, but I also have a friend on Facebook from there and we talked recently about the horrible situation inside the country. I asked him about Bitcoin and he answered that he have heard about it, but don't know how to use it. The last couple days in helping him to join the forum and the community. I hope I will help him in this economic situation and mass unemployed with some little stable income through bitcoin.
July 13, 2017, 12:06:29 AM
The Venezuela story is one of the brightest ever so far for Bitcoin on how it can be a very good alternative currency and can help people to cope with the super-failure of the government to stabilize its economic platform. The country has had been experiencing a very unfortunate hyperinflation and the government is becoming worthless to deal with the problems they themselves created.
This goes to show that Bitcoin can be a savior of the people and though this cryptocurrency is not backed with anything still they can use to buy the necessary basic necessities because the country's own currency can not be accepted anywhere outside of the country.
In the next few months, I am sure we can still hear many good stories of survival from Venezuela and Bitcoin (as well as Dash as the headline goes) is playing a big part for it.
This goes to show that Bitcoin can be a savior of the people and though this cryptocurrency is not backed with anything still they can use to buy the necessary basic necessities because the country's own currency can not be accepted anywhere outside of the country.
In the next few months, I am sure we can still hear many good stories of survival from Venezuela and Bitcoin (as well as Dash as the headline goes) is playing a big part for it.
July 11, 2017, 11:21:42 PM
For the Venezuelans, there are very few options. The local currency is even worth less than the toilet paper. They can't store their wealth in the United States Dollar, due to the restrictions in owning foreign currency. Bitcoin is one of the few available options.
Very few people know about bitcoin. And I think that the government will specifically say that the crypto currency is dust. People are simply deceived and are in despair because of what is happening.The people no longer trust the government in Venezuela. They had enough of the government's lies and deceptions. So even if the authorities engage in scare-mongering tactics against BTC, I doubt it is going to work beyond a certain limit.
July 11, 2017, 07:34:38 AM
That's right. I have a friend on Facebook from Venezuela and we talked reciently, he moved from all this haos to live abroad in Brazil and when I asked him about Bitcoin and crypto-currencies he answere that he has never heard about it before.
Obviously, the majority of the people there haven't likely head of Bitcoin. Main point of importance is that the people that do know Bitcoin, will slowly start spreading the word, but this is a process that takes a significant amount of time. Back in the days where Cyprus was going through a massive economical recession, people just assumed that the price increase was caused as result of that. Again, in that case the majority of the people there had likely no clue about what Bitcoin was. It wouldn't be the first time where crypto related news sites exaggerate the situation to draw more attention -- that's how they operate.
Its obvious that this so called authors do sometimes exaggerate things or even blown out of proportion to sensationalized news to attract readers and click on them. I think Venezuela are really in deep economic problem, that bitcoin is the only means of survival for a few/many? of them. Majority may not have heard of it, but I think if the problems will continue then bitcoin will slowly gain awareness with its citizen that it can at least help them to buy food and groceries from other countries.
It is really good to hear that a bad economic situation in a country is helping the people who are investing in bitcoin,i have heard that the electricity is cheap in Venezuela and there are many mining farms situated in that country and for them bitcoin will be a bonus to over come the struggle they are facing at the moment.
Yes, the electricity in Venezuela is quite cheap that's why they are mining in there. However, a few months ago, a mining farm was raided and all people involved throw in jail and the rigs confiscated. They said that this mining farms are operating illegally.
This is the answer to the main question. Bitcoin will not be able to help residents of Venezuela because the government will not allow this. If people go into the bitcoin community, then the country's economy will never get out of the pit in which it is now located
It should be a cautionary tale for people around the world - prepare for the storm while the sun is shining. Put some money in bitcoin/gold/somewhere off-shore when you can.
When you see the authoritarians of any stripe - dictators, socialists, fascists, communists etc - headed your way, the storm clouds are on the horizon so protect some more of your wealth. And perhaps yourself and families by fleeing.
Just ask more Cyprus recently and many other places. People think "it can't happen here" wherever "here" is, but it can and often does happen.
Also protect yourself now from the authoritarian central bankers who will drain your wealth away a few (or more) percent per year through inflation. A few percent adds up over time.
You say very wise words. But, unfortunately, people find a lot of prisin in order not to care about their future. The main problem is that there is always not enough money to buy a crypto currency. And many do not believe in crypto currency.
I feel sorry for the inhabitants of Venezuela. They were victims of the state
I agree.
I'd also have to take issue with the "Surviving Government Failures" title. These aren't "government failures" they are the logical, expected outcome of authoritarian policies. ;-)
July 11, 2017, 06:28:34 AM
That's right. I have a friend on Facebook from Venezuela and we talked reciently, he moved from all this haos to live abroad in Brazil and when I asked him about Bitcoin and crypto-currencies he answere that he has never heard about it before.
Obviously, the majority of the people there haven't likely head of Bitcoin. Main point of importance is that the people that do know Bitcoin, will slowly start spreading the word, but this is a process that takes a significant amount of time. Back in the days where Cyprus was going through a massive economical recession, people just assumed that the price increase was caused as result of that. Again, in that case the majority of the people there had likely no clue about what Bitcoin was. It wouldn't be the first time where crypto related news sites exaggerate the situation to draw more attention -- that's how they operate.
Its obvious that this so called authors do sometimes exaggerate things or even blown out of proportion to sensationalized news to attract readers and click on them. I think Venezuela are really in deep economic problem, that bitcoin is the only means of survival for a few/many? of them. Majority may not have heard of it, but I think if the problems will continue then bitcoin will slowly gain awareness with its citizen that it can at least help them to buy food and groceries from other countries.
It is really good to hear that a bad economic situation in a country is helping the people who are investing in bitcoin,i have heard that the electricity is cheap in Venezuela and there are many mining farms situated in that country and for them bitcoin will be a bonus to over come the struggle they are facing at the moment.
Yes, the electricity in Venezuela is quite cheap that's why they are mining in there. However, a few months ago, a mining farm was raided and all people involved throw in jail and the rigs confiscated. They said that this mining farms are operating illegally.
This is the answer to the main question. Bitcoin will not be able to help residents of Venezuela because the government will not allow this. If people go into the bitcoin community, then the country's economy will never get out of the pit in which it is now located
It should be a cautionary tale for people around the world - prepare for the storm while the sun is shining. Put some money in bitcoin/gold/somewhere off-shore when you can.
When you see the authoritarians of any stripe - dictators, socialists, fascists, communists etc - headed your way, the storm clouds are on the horizon so protect some more of your wealth. And perhaps yourself and families by fleeing.
Just ask more Cyprus recently and many other places. People think "it can't happen here" wherever "here" is, but it can and often does happen.
Also protect yourself now from the authoritarian central bankers who will drain your wealth away a few (or more) percent per year through inflation. A few percent adds up over time.
You say very wise words. But, unfortunately, people find a lot of prisin in order not to care about their future. The main problem is that there is always not enough money to buy a crypto currency. And many do not believe in crypto currency.
I feel sorry for the inhabitants of Venezuela. They were victims of the state
July 09, 2017, 05:24:56 PM
That's right. I have a friend on Facebook from Venezuela and we talked reciently, he moved from all this haos to live abroad in Brazil and when I asked him about Bitcoin and crypto-currencies he answere that he has never heard about it before.
Obviously, the majority of the people there haven't likely head of Bitcoin. Main point of importance is that the people that do know Bitcoin, will slowly start spreading the word, but this is a process that takes a significant amount of time. Back in the days where Cyprus was going through a massive economical recession, people just assumed that the price increase was caused as result of that. Again, in that case the majority of the people there had likely no clue about what Bitcoin was. It wouldn't be the first time where crypto related news sites exaggerate the situation to draw more attention -- that's how they operate.
Its obvious that this so called authors do sometimes exaggerate things or even blown out of proportion to sensationalized news to attract readers and click on them. I think Venezuela are really in deep economic problem, that bitcoin is the only means of survival for a few/many? of them. Majority may not have heard of it, but I think if the problems will continue then bitcoin will slowly gain awareness with its citizen that it can at least help them to buy food and groceries from other countries.
It is really good to hear that a bad economic situation in a country is helping the people who are investing in bitcoin,i have heard that the electricity is cheap in Venezuela and there are many mining farms situated in that country and for them bitcoin will be a bonus to over come the struggle they are facing at the moment.
Yes, the electricity in Venezuela is quite cheap that's why they are mining in there. However, a few months ago, a mining farm was raided and all people involved throw in jail and the rigs confiscated. They said that this mining farms are operating illegally.
This is the answer to the main question. Bitcoin will not be able to help residents of Venezuela because the government will not allow this. If people go into the bitcoin community, then the country's economy will never get out of the pit in which it is now located
It should be a cautionary tale for people around the world - prepare for the storm while the sun is shining. Put some money in bitcoin/gold/somewhere off-shore when you can.
When you see the authoritarians of any stripe - dictators, socialists, fascists, communists etc - headed your way, the storm clouds are on the horizon so protect some more of your wealth. And perhaps yourself and families by fleeing.
Just ask more Cyprus recently and many other places. People think "it can't happen here" wherever "here" is, but it can and often does happen.
Also protect yourself now from the authoritarian central bankers who will drain your wealth away a few (or more) percent per year through inflation. A few percent adds up over time.
July 09, 2017, 03:02:01 PM
That's right. I have a friend on Facebook from Venezuela and we talked reciently, he moved from all this haos to live abroad in Brazil and when I asked him about Bitcoin and crypto-currencies he answere that he has never heard about it before.
Obviously, the majority of the people there haven't likely head of Bitcoin. Main point of importance is that the people that do know Bitcoin, will slowly start spreading the word, but this is a process that takes a significant amount of time. Back in the days where Cyprus was going through a massive economical recession, people just assumed that the price increase was caused as result of that. Again, in that case the majority of the people there had likely no clue about what Bitcoin was. It wouldn't be the first time where crypto related news sites exaggerate the situation to draw more attention -- that's how they operate.
Its obvious that this so called authors do sometimes exaggerate things or even blown out of proportion to sensationalized news to attract readers and click on them. I think Venezuela are really in deep economic problem, that bitcoin is the only means of survival for a few/many? of them. Majority may not have heard of it, but I think if the problems will continue then bitcoin will slowly gain awareness with its citizen that it can at least help them to buy food and groceries from other countries.
It is really good to hear that a bad economic situation in a country is helping the people who are investing in bitcoin,i have heard that the electricity is cheap in Venezuela and there are many mining farms situated in that country and for them bitcoin will be a bonus to over come the struggle they are facing at the moment.
Yes, the electricity in Venezuela is quite cheap that's why they are mining in there. However, a few months ago, a mining farm was raided and all people involved throw in jail and the rigs confiscated. They said that this mining farms are operating illegally.
This is the answer to the main question. Bitcoin will not be able to help residents of Venezuela because the government will not allow this. If people go into the bitcoin community, then the country's economy will never get out of the pit in which it is now located
July 09, 2017, 12:58:12 PM
That's right. I have a friend on Facebook from Venezuela and we talked reciently, he moved from all this haos to live abroad in Brazil and when I asked him about Bitcoin and crypto-currencies he answere that he has never heard about it before.
Obviously, the majority of the people there haven't likely head of Bitcoin. Main point of importance is that the people that do know Bitcoin, will slowly start spreading the word, but this is a process that takes a significant amount of time. Back in the days where Cyprus was going through a massive economical recession, people just assumed that the price increase was caused as result of that. Again, in that case the majority of the people there had likely no clue about what Bitcoin was. It wouldn't be the first time where crypto related news sites exaggerate the situation to draw more attention -- that's how they operate.
Its obvious that this so called authors do sometimes exaggerate things or even blown out of proportion to sensationalized news to attract readers and click on them. I think Venezuela are really in deep economic problem, that bitcoin is the only means of survival for a few/many? of them. Majority may not have heard of it, but I think if the problems will continue then bitcoin will slowly gain awareness with its citizen that it can at least help them to buy food and groceries from other countries.
It is really good to hear that a bad economic situation in a country is helping the people who are investing in bitcoin,i have heard that the electricity is cheap in Venezuela and there are many mining farms situated in that country and for them bitcoin will be a bonus to over come the struggle they are facing at the moment.
Yes, the electricity in Venezuela is quite cheap that's why they are mining in there. However, a few months ago, a mining farm was raided and all people involved throw in jail and the rigs confiscated. They said that this mining farms are operating illegally.
July 09, 2017, 12:32:48 PM
That's right. I have a friend on Facebook from Venezuela and we talked reciently, he moved from all this haos to live abroad in Brazil and when I asked him about Bitcoin and crypto-currencies he answere that he has never heard about it before.
Obviously, the majority of the people there haven't likely head of Bitcoin. Main point of importance is that the people that do know Bitcoin, will slowly start spreading the word, but this is a process that takes a significant amount of time. Back in the days where Cyprus was going through a massive economical recession, people just assumed that the price increase was caused as result of that. Again, in that case the majority of the people there had likely no clue about what Bitcoin was. It wouldn't be the first time where crypto related news sites exaggerate the situation to draw more attention -- that's how they operate.
July 09, 2017, 11:40:35 AM
For the Venezuelans, there are very few options. The local currency is even worth less than the toilet paper. They can't store their wealth in the United States Dollar, due to the restrictions in owning foreign currency. Bitcoin is one of the few available options.
Very few people know about bitcoin. And I think that the government will specifically say that the crypto currency is dust. People are simply deceived and are in despair because of what is happening.
July 09, 2017, 11:38:50 AM
Venezuella has fallen victim to yet another orange revolution
there were multiple over the past several years,most of them in the ex-USSR republics
this won't stop till the goverment is overthrown and the western puppets are put in charge
bitcoin has nothing to do with the situation the country is in,just another mean to save assets from the galloping inflation and instability
there were multiple over the past several years,most of them in the ex-USSR republics
this won't stop till the goverment is overthrown and the western puppets are put in charge
bitcoin has nothing to do with the situation the country is in,just another mean to save assets from the galloping inflation and instability
July 09, 2017, 11:04:21 AM
For the Venezuelans, there are very few options. The local currency is even worth less than the toilet paper. They can't store their wealth in the United States Dollar, due to the restrictions in owning foreign currency. Bitcoin is one of the few available options.
Very few people know about bitcoin. And I think that the government will specifically say that the crypto currency is dust. People are simply deceived and are in despair because of what is happening. July 09, 2017, 09:00:30 AM
For the Venezuelans, there are very few options. The local currency is even worth less than the toilet paper. They can't store their wealth in the United States Dollar, due to the restrictions in owning foreign currency. Bitcoin is one of the few available options.
July 09, 2017, 08:04:23 AM
I have heard that the situation in Venezuela is too bad, people are running from the country and politic system which can't protect them. Crypto-currencies really give a hand of support to people who can't just stay everything and leave the country. I hope the situation will stabilize there soon, because of this thing that is going on there is just a nightmare.
It is the political system and the authoritarian leaders from whom they need protection! After almost two decades of a socialist dictatorship the end result is not surprising, but the siren song of trading freedom for "free stuff" worked again.
Friends of mine there in 1998 and 1999 saw Chavez win and tried to get as much of their wealth (and their families) out of the country as possible. Unfortunately for the majority of people, Chavez et al duped them into voting for their own enslavement and they couldn't have left even if they wanted to. He and his cronies lived the high life while taking a country that had been prosperous in the 1950s and for several decades thereafter close to destruction.
Bitcoin helps protect freedom by stopping a Chavez-type leader from destroying and/or seizing a country's currency, savings and investments.
July 09, 2017, 05:46:28 AM
Investing bitcoin or mining bitcoin in a country like venezuela is extremely risky i would say no one should do that right now
It is already happening, and it is helping out a good number of people. Imagine how these people would be suffering if Bitcoin didn't exist? I feel sorry for those suffering from their greedy and corrupted government, but these worrisome situations perfectly show how useful Bitcoin can be. I am fairly sure that if this keeps dragging on, some sort of an "underground" crypto economy will get initiated, where local businesses will end up generating more revenue and income through crypto, than their worthless local fiat currency.
July 08, 2017, 11:55:06 PM
Investing bitcoin or mining bitcoin in a country like venezuela is extremely risky i would say no one should do that right now
weeks ago, Venezuelan authorities arrested journalists from NTN24 and Telemundo. The journalists were briefly detained. But this shows that the Venezuelan authorities do not want freedom of the press and freedom for the people of their country
Now imagine bitcoin in such a country?
weeks ago, Venezuelan authorities arrested journalists from NTN24 and Telemundo. The journalists were briefly detained. But this shows that the Venezuelan authorities do not want freedom of the press and freedom for the people of their country
Now imagine bitcoin in such a country?
July 08, 2017, 06:47:40 PM
It is really good to hear that a bad economic situation in a country is helping the people who are investing in bitcoin,i have heard that the electricity is cheap in Venezuela and there are many mining farms situated in that country and for them bitcoin will be a bonus to over come the struggle they are facing at the moment.
Jump to: