I am not sure for how long the Venezuelan government will tolerate the Bitcoin trading in its territory. The national currency is losing value every day and people are using Bitcoin as a store of value (which further weakens the national currency). The good news is that I haven't heard of anyone getting arrested in Venezuela for using BTC or any other cryptocurrency.
Don't think that the Venezuelan government has become Bitcoin friendly all of a sudden. If they are tolerating BTC, then there is some solid reason behind it. The ongoing sanctions and embargoes have cut the flow of foreign currency to the country. The government may be using Bitcoin to circumvent these sanctions and bring in foreign currency.
Topic: [2019-08-06] Venezuela Bitcoin Trading Hits New Highs Amid US Embargo - page 2. (Read 381 times)
August 08, 2019, 09:22:42 AM
August 08, 2019, 08:11:38 AM
And how long did the people of venezuela use bitcoin as a refuge? Will use bitcoin as a refuge for a year? for 10 years? forever? Venezuelan people should stop supporting Maduro. they should ask for fair and transparent elections, they must demand democracy and freedom of expression. They cannot continue to accept the kind of life they have
My country was once under a dictatorial regime and honestly it was not so easy to get away from someone and his minions who wanted to stay on power as possible as they can and who are so willing to do anything even unthinkable so they can't be kicked out of office even if the people (or majority of) do not like them anymore. I am sure this is the same with Venezuela.
Now wonder there is a growing interest with Bitcoin in this country as its economy is now collapsing and the value of its national currency remains to be almost worthless. Of course, it does not mean that a majority of Venezuelans have access to Bitcoin but at least there can be a choice for the many if they want to. And yes, Bitcoin is not the solution but for the whole country to decide once and for all that they want the change in the leadership and the direction of the country. I am hoping that can happen soon.
August 07, 2019, 06:03:42 PM
As far as I know, bitcoin trading in Venezuela has been hitting records high like every week. So I don't know why the OP is surprise with this kind of news.
It is hitting record high when you count it in bolivars..
But, surprisingly, when it comes to $, the volume is suspiciously linear.
Look at this:
https://coin.dance/volume/localbitcoins/VES/BTC
It hovers at around 400-500 just like it did in march may last year when the price was the same.
It more than tripled in January March when the bitcoin valued dropped...when around ~ 4 times from now.
And the lowest volume in BTC terms was..again really suspicious exactly when the price as above 15k.
This is really intriguing, seems like there is somebody behind those volumes that either brings in $ or is seeling something that has a constant value in $
August 07, 2019, 04:49:57 PM
And how long did the people of venezuela use bitcoin as a refuge? Will use bitcoin as a refuge for a year? for 10 years? forever? Venezuelan people should stop supporting Maduro. they should ask for fair and transparent elections, they must demand democracy and freedom of expression. They cannot continue to accept the kind of life they have
August 07, 2019, 04:44:07 AM
As far as I know, bitcoin trading in Venezuela has been hitting records high like every week. So I don't know why the OP is surprise with this kind of news.
And Venezuelan's has been seeking refuge to bitcoin ever since the economic turmoils and embargo. Hyperinflation? You can go to Venezuela and see it for your self.
And Venezuelan's has been seeking refuge to bitcoin ever since the economic turmoils and embargo. Hyperinflation? You can go to Venezuela and see it for your self.
August 06, 2019, 10:21:07 AM
Bitcoin price is currently trading at almost a $1000 premium in VES on P2P trading platform, Localbitcoins, and trading volumes have skyrocketed to record-breaking highs.
https://bitcoinist.com/venezuela-bitcoin-trading-hits-new-highs-after-us-embargo/
https://bitcoinist.com/venezuela-bitcoin-trading-hits-new-highs-after-us-embargo/
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