Topic: BTC is helping out Cubans and Venezuelans - page 8. (Read 990 times)

it is not just countries with declining currencies. it is a lot of countries that are usually underdeveloped. i think it has to do with the freedom that people have in most of those countries. for example you will face a lot more obstacles when you want to buy bitcoin in America than you wold face in most of these countries and your bank account is not going to get closed just because you dumped your fiat for bitcoin.
there is also far less FUD from the corrupt government and banks in those countries. for example you don't hear their bank CEO call bitcoin "fraud" while US banks do that every now and then!

It's not just Cuba and Venezuela. Paraguay is about to introduce a new bill on cryptocurrency regulation and there have been a lot of hype regarding it in the market. I don't expect anything revolutionary coming out of it (similar to what happened in El Salvador). But it is gladdening that most of the world seems to be moving in the right direction with respect to cryptocurrency (obviously there are a few exceptions, such as China and Vietnam). Those countries which take a more conciliatory approach towards cryptocurrency will benefit in the future, because it represents the next big thing in technology. China is going to regret, because CBDC can never replace cryptocurrency.

The list is growing all the time and I’m loving it. Every other day there is some news about some countries who is either accepting the crypto currency and more specifically bitcoin itself. The adoption could be because of their bad currency situation or unprompted values for the local currencies. For example, if Africans do business with crypto currency’s and earn in crypto for the assets they import or export then surely they will benefit. If they do business in the let’s Niara of Nigeria then it’s gonna be horrible all the time.

Though this mode will have to be perfectly upgraded but will surely work.

Now hearing about Cubans and Venezuelans makes me think about these things are possible. .

And yet china sees crypto as a threat, I guess the president of China hates people been successfully on their own without working for the government, this is so painful as so many people in China relies on crypto investment and mining

the saddest part of this situation is to see that there are hundreds of people suffering and they are unable to remove from power a small group of people who are responsible for the suffering of most of the population in these countries, and it is commendable that bitcoin is being very useful in these countries. .but this is a temporary solution, people in these countries should know that if they don't fight to change these regimes, nothing in their lives will change in the long run. people need to come together and remove these corrupt presidents and political parties and dictators and demand democratic elections and that countries like the US start to lift sanctions and recognize the legitimate democratically elected president

It's not like they are trying to say that Cuba and Venezuela are the only one that gets benefits out of crypto, it's just that they are in a more distraught situation than any of us so they are basically needing more help more than anyone else.

That's on part that people are crafty no matter how incompetent their government is. Also, is that airstrike request for real though? That's the most aggressive USA had been in Cuba since the Cold War and the Missile Crisis. This is what happens when your communist ideology happens, only the select few gets the taste of good life.

it's amazing that a country can still work things out despite the disorder that's happening. i can't believe the mayor of Miami considers an airstrike on Cuba.
the rallies there are caused by Covid19 still which the government can't really do much but to tell the people to stay home.

this country is actually abundant, the people don't go hungry until covid came. i hope BTC can work out on them.

I am glad that bitcoin became more than just a substitute to fiat because it's not just substitute for this people, it's a ladder for them to survive and prosper despite the inability of their government and fiat to help them survive.

I don't think that it's only Cubans and Venezuelans Butcoin is really helping. There are more good to countries using Butcoin as means of transactions than bad, even coupled with the volatility that is attached to it that makes it look like it wouldn't be fine using it in place of Fiat. Bitcoin uses is more better to transact than some countries currency which is poor in value when compared to USD. More countries are yet to embrace the use of Bitcoin as a system for goods and services payment system.

Good thing is that BTC is actually having a good use-case in Cuba and Venezuela instead of just being viewed as a money-making cryptocurrency and nothing more. I would love to see the usage statistics in Cuba since this is the first time that I read something about the country making use of bitcoin. This is good for adoption, although I'm still hoping that Cubans and Venezuelans have their economies fixed for them to not go through all the hoops just to get some value off of their money.

Well am glad to hear this, reason why btc is a good substitute for fiat, in the case where fiat fail to meet all requirements of it's citizens btc will be a fine substitute to such country from their dying currency,  this must mean the Cubans must need a huge amount of their dying currency to buy btc otherwise how else will they be able to get hold of btc, Am just wondering 

I think the use case is pretty cool, now we can add to the list that bitcoin also helped people achieve freedom from their oppressors. What's OPSEC by the way? I assume the OP part is operational or operation. Also, wouldn't it be alright to spill it here since you are likely anonymous?

From what I can see, fellow forum members living in Venezuela are not as optimistic as the OP. Maybe it is a matter of time. Having the example of El Salvador so close let's hope that the use of Bitcoin in those countries becomes generalized even if it is not backed by the government.

Quite true, however one of the main reasons of the adoption here in Venezuela besides of the inflation (I personally have a cabinet full of worthless notes I use to repair old books) it is because the government have no control over the wallets and have no capacity to know whether uses Bitcoin/altcoins.

Because of the infamy of our government abroad, the exchanges here have an antagonistic relationship with them, so I am very sure exchanges do not provide much information (if any) of the users to the local government even if they ask for it.

Because the electricity here is basically free, it is common for people to try to mine, but (of course) the government wants their part, so one needs to "register" and get a permission to mine any coin.
If you try to mine without one, and get caught, you get your equipment seized (and probably used by corrupt military to mine) and thrown into a cell where you will stay until they want.

If you  get registered, you may get threats anyways by more corrupt agents claiming their piece of the cake. So being a miner here is not a good idea.

The lastest example:

https://www.cvbj.biz/2021/07/15/another-6-bitcoin-miners-were-arrested-in-venezuela/

Crypto is volume here is the biggest in Latinamerica, if I remember right.
For now, most of people prefer to hold USD, EUROS or gold. The high-volume may be due to remittances (a way to avoid government to take a percentage) or speculation to beat the bad salaries here.

There are also rumors about removing 6 zeroes this year off our currency.

We have quite a few users from Venezuela, however I haven't seen anyone from Cuba. You can check the posts from user Hispo, and he has detailed the cryptocurrency situation in Venezuela in great detail (most of his posts are in Spanish, but you can check the ones made outside the local sub-forums):

https://bitcointalksearch.org/user/hispo-2850161

I don't know much about cryptocurrency users in Cuba. In fact, this is the first time that I hear they have a large community of cryptocurrency users there. One thing is sure. Growing acceptance of cryptocurrency bodes well for the ordinary citizens of Venezuela and Cuba.

I am Venezuelan, my life changed since I used cryptocurrencies for almost three years. But we are not the majority, we are still few. I think that if we increased we could get a little out of poverty. We need the interest in bitcoin and cryptocurrencies from the main engines of our economy to be able to boost all economic sectors. There has been interest in private companies but progress has been little. Perhaps due to the pandemic but I have not yet seen a noticeable progress that is sustainable.
When the economic indicators show growth thanks to these investments, we can affirm that Venezuela also achieved it. That is why I can tell you that we are still a minority in Venezuela who see their future with bitcoin and cryptocurrencies.

it's all because Bitcoin has value, otherwise it doesn't help at all. and the fact that everyone needs to realize that regardless of what has been felt in Venezuela or in Cuba at this time, we hope that the problem is only one, all need to recognize Bitcoin is not only for big holders, but Bitcoin needs to be recognized by the world with evidence that has been seen before eyes, Venezuela itself as a country we all don't need to say that. What is certain is that the existence of Bitcoin we need to protect in order to maintain all the services that Satoshi has bestowed on us all.

Of course, it is really helping to the people who are living in a country with currencies that are not even to be considered as toilet papers and also add more value to the bitcoin itself because people are actually trying to use it as a medium of exchange which is what satoshi vision is all about when he launched bitcoin.

...

For OPSEC reasons I don't (personally) want to go in to this topic too heavily myself, but this is already happening.

I have known about Venezuelans for years using BTC (and Dash) as a partial substitute for their worthless currency and hard-to-get US dollar fiat.  Apparently these efforts have been quite helpful to those in Venezuela in a position to use cryptos to make their lives better.

Now Cuban-Americans are sending BTC to embattled Cuba.  I do not know the amounts though.

These really ARE excellent use-cases in which BTC is helping to add value to the lives of those under oppression.  This is clearly a good thing.