Topic: Can bitcoin help rebuild Venezuela? - Darb Finance - page 2. (Read 1507 times)
The independent solution of Venezuela, the only one I have seen is through Bitcoin Market. Now it only depends on them, if they know how to do it, they will overcome the crisis and all their problems almost by magic, but I clarify "If they know how to do it", otherwise, most likely given their ways of doing things, it is very feasible They don't handle it well and fail, unless they switch to financial advisors and hire experts. It is the only possible opportunity they have, there is no other, well, except that all rulers abandon and generate the hard step from communism to capitalism in a radical way.
Bitcoin might be of some help mitigating the worst effects, I've heard of people who long ago realized holding the plain cash was a losing game and switched to Bitcoin as dollar and many currencies are not available to them. So to a limited extent its helped but it cannot revive the economy.
To really help Venezuela get back it would be something simple as oil prices going back over 100. I dont really believe in this as a solution exactly but there is no doubt it would help raise revenue and justify much more extraction of their heavy sour oil. Obviously they need reform and to rebuild and that is unlikely with a military led government suppressing any natural activity, I believe the military are now involved in facilitating drug trafficking to fund themselves and are unwilling to allow any transition away from the control which allows that.
To really help Venezuela get back it would be something simple as oil prices going back over 100. I dont really believe in this as a solution exactly but there is no doubt it would help raise revenue and justify much more extraction of their heavy sour oil. Obviously they need reform and to rebuild and that is unlikely with a military led government suppressing any natural activity, I believe the military are now involved in facilitating drug trafficking to fund themselves and are unwilling to allow any transition away from the control which allows that.
Not only BTC, but other cryptocurrencies help Venezuela. DASH successfully continues to expand its presence in the country, which is connected both with the weakness of the sovereign Bolivar, the rate of which is constantly falling exponentially, and with the lack of other financial alternatives for the country's population - the “oil-backed” cryptocurrency El Petro still exists only in the president’s imagination and individual members of the government.
The question of cryptocurrency in Venezuela is very acute, since it is the cryptocurrency that Venezuelans have very high hopes to survive in the poverty in which the whole country is located. The fact is that in this state the dollar is under a state ban, and with cryptocurrency there are great opportunities for work. It's just that Bitcoin is not the most popular among the local population, namely, the Dash cryptocurrency is the most popular in Venezuela. But if you compare Dash and Petro, then Dash will really be able to translate the expected dreams of Venezuelans into reality, and Petro, the currency that the Venezuelan government created, is almost a profanity, behind the scenes of which lies a fraud.
The embargoes and sanctions are causing hardship in Venezuela. Unless these are removed, the economy won't recover. And I don't know how Bitcoin can become useful in such circumstances. The regime is unable to get foreign currency due to the sanctions. If they use Bitcoin to circumvent the sanctions, then I don't think that the Americans will just sit back and watch.
And from what I have heard, the regime has adopted a tolerant attitude towards those Venezuelans who continue to use crypto. They are not harassing the cryptocurrency users. Perhaps they believe that Bitcoin is safer when compared to the USD. The national currency is now worth less than the toilet paper and it won't see a revival even if they ban Bitcoin.
And from what I have heard, the regime has adopted a tolerant attitude towards those Venezuelans who continue to use crypto. They are not harassing the cryptocurrency users. Perhaps they believe that Bitcoin is safer when compared to the USD. The national currency is now worth less than the toilet paper and it won't see a revival even if they ban Bitcoin.
actually the problem of deflation is caused by people thinking that bitcoin does not make it.
As you can see, Litecoin has had a Halving event recently but its value has dropped significantly since that day, it's different from the previous halving.
Therefore, the market is only deciding the price of bitcoin, not deflation here!
If one day sharks didn't like bitcoin because it was too slow, they would discard it and the value would be zero. and you know what happens to bitcoin holders
As you can see, Litecoin has had a Halving event recently but its value has dropped significantly since that day, it's different from the previous halving.
Therefore, the market is only deciding the price of bitcoin, not deflation here!
If one day sharks didn't like bitcoin because it was too slow, they would discard it and the value would be zero. and you know what happens to bitcoin holders
at the near future, BTC for venezula can be a solution, but for a long time I think there must be a change from their own country. because BTC requires adequate internet access and account services. what if the government doesn't support it? economic change cannot be comprehensive
Bitcoin might be of some help mitigating the worst effects, I've heard of people who long ago realized holding the plain cash was a losing game and switched to Bitcoin as dollar and many currencies are not available to them. So to a limited extent its helped but it cannot revive the economy.
To really help Venezuela get back it would be something simple as oil prices going back over 100. I dont really believe in this as a solution exactly but there is no doubt it would help raise revenue and justify much more extraction of their heavy sour oil. Obviously they need reform and to rebuild and that is unlikely with a military led government suppressing any natural activity, I believe the military are now involved in facilitating drug trafficking to fund themselves and are unwilling to allow any transition away from the control which allows that.
I am not sure that the US even wants them to get solution, it is actually glaring that cryptocurrency would have a very big role to play in the life of a country positively, and maybe if Venezuela had adopted it ad succeed in even switching to their petro coin, probably they would have been free from the bondage of dollar and then their economy would be strengthened, but I heard that the president of America is planning to ban the Pedro coin, and the only reason they would do that is selfishness, because I guess they are using it to strengthen their own coin, and they don’t care if another country’s economy is collapsing or not. To really help Venezuela get back it would be something simple as oil prices going back over 100. I dont really believe in this as a solution exactly but there is no doubt it would help raise revenue and justify much more extraction of their heavy sour oil. Obviously they need reform and to rebuild and that is unlikely with a military led government suppressing any natural activity, I believe the military are now involved in facilitating drug trafficking to fund themselves and are unwilling to allow any transition away from the control which allows that.
If Venezuela can really succeeded in limiting their use of cash and then switching over to crypto, I am sure their economy would be a very great one.
I have heard of the country’s economy basically collapsing, and the residents are making an effort to turn to cryptocurrency. Majority of the businesses in the country are accepting bitcoin as a means of payment which can make me conclude that yes, Venezuela is using Bitcoin to revive its economy. I think that this is generally a step towards economic success for Venezuela once the government fully embraces the technology.
according to the news that I read, a bitcoin-based ATM was installed in Venezuela on September 10 yesterday. this proves that Venezuela is one place that is suitable for the development of bitcoin.
Yeah, right!
I was curious to see where this ATMs is located and not to my surprise,
the ATM is 500 meters from the border, probably they will have time to pack it up and cross into Columbia till the police arrive if a raid will target it.
Sorry to burst your bubble but at this moment Venezuela is not a suitable ground for anything and I'm pretty sure even in this case, this ATM is being used more by smugglers than want to avoid border control rather than normal people
I agree with your opinion, but when a country installs a bitcoin atm, I think that the country supports its people to use bitcoin. because of that, I think it's appropriate to start developing Venezuelan thinking about cryptocurrency-based businesses, especially bitcoin.
Start realizing the difference between a company and a country, BMW doing something is not Germany doing the same, McDonald's is not representative for the US and neither is a panda for China. Furthermore, the company that installed that ATM is located and based in Colombia!
Again, sorry for another bubble!
To be honest with you, the information you read always appears a lot every day, apply crypto and bitcoin ATMs, launch bitcoin's ATMs somewhere but these stories really don't have a lot of convincing evidence, mostly appear for a short time and then people will forget it, these bitcoin ATMs are still operating until now or it has stopped working, it is a question without an answer. Therefore, do not rush to think that Venezuela is a suitable country to develop bitcoin, and bitcoin doesn't rebuild a country, it just builds assets for people who know how to use it
I agree with your opinion, but when a country installs a bitcoin atm, I think that the country supports its people to use bitcoin. because of that, I think it's appropriate to start developing Venezuelan thinking about cryptocurrency-based businesses, especially bitcoin.this is just an estimate that I have in mind, but with that in mind, I am sure Venezuela can use bitcoin to their advantage whether it is individuals or groups, and that can make Venezuela a step ahead. although there are people who think that it is a small thing, but the change also starts in small things.
Gosh, even Venezuela now will have Bitcoin ATM. They need it for sure. Last month, LocalBitcoins cryptocurrency exchange reached the highest volume of trade in the country in its history, and the inflation of the national currency reached crazy numbers - 10,000,000%. The rate of hyperinflation in Venezuela his really insane - no one country has such a catastrophy in the economics. Bitcoin can save people.
Bitcoin might be of some help mitigating the worst effects, I've heard of people who long ago realized holding the plain cash was a losing game and switched to Bitcoin as dollar and many currencies are not available to them. So to a limited extent its helped but it cannot revive the economy.
To really help Venezuela get back it would be something simple as oil prices going back over 100. I dont really believe in this as a solution exactly but there is no doubt it would help raise revenue and justify much more extraction of their heavy sour oil. Obviously they need reform and to rebuild and that is unlikely with a military led government suppressing any natural activity, I believe the military are now involved in facilitating drug trafficking to fund themselves and are unwilling to allow any transition away from the control which allows that.
To really help Venezuela get back it would be something simple as oil prices going back over 100. I dont really believe in this as a solution exactly but there is no doubt it would help raise revenue and justify much more extraction of their heavy sour oil. Obviously they need reform and to rebuild and that is unlikely with a military led government suppressing any natural activity, I believe the military are now involved in facilitating drug trafficking to fund themselves and are unwilling to allow any transition away from the control which allows that.
according to the news that I read, a bitcoin-based ATM was installed in Venezuela on September 10 yesterday. this proves that Venezuela is one place that is suitable for the development of bitcoin. This will facilitate the use of bitcoin, bitcoin cash, and dash on Venezuela. for more information about this, you can read in https://cointelegraph.com/news/after-multiple-false-starts-venezuela-may-have-its-first-bitcoin-atm
To be honest with you, the information you read always appears a lot every day, apply crypto and bitcoin ATMs, launch bitcoin's ATMs somewhere but these stories really don't have a lot of convincing evidence, mostly appear for a short time and then people will forget it, these bitcoin ATMs are still operating until now or it has stopped working, it is a question without an answer. Therefore, do not rush to think that Venezuela is a suitable country to develop bitcoin, and bitcoin doesn't rebuild a country, it just builds assets for people who know how to use itToday, we are seeing the bitcoin is really helping them survived. I read reports that it needed like $15 billion to rehab the country, so how can bitcoin support that? There need to be some economic stimulus at some point and help from other countries like US.
Bitcoin can still be used as a tool, but to say that it is the miracle that Venezuelans are prying to help them recover, I'm not sure about that.
according to the news that I read, a bitcoin-based ATM was installed in Venezuela on September 10 yesterday. this proves that Venezuela is one place that is suitable for the development of bitcoin. This will facilitate the use of bitcoin, bitcoin cash, and dash on Venezuela. for more information about this, you can read in https://cointelegraph.com/news/after-multiple-false-starts-venezuela-may-have-its-first-bitcoin-atm
To be honest with you, the information you read always appears a lot every day, apply crypto and bitcoin ATMs, launch bitcoin's ATMs somewhere but these stories really don't have a lot of convincing evidence, mostly appear for a short time and then people will forget it, these bitcoin ATMs are still operating until now or it has stopped working, it is a question without an answer. Therefore, do not rush to think that Venezuela is a suitable country to develop bitcoin, and bitcoin doesn't rebuild a country, it just builds assets for people who know how to use it
To be honest with you, the information you read always appears a lot every day, apply crypto and bitcoin ATMs, launch bitcoin's ATMs somewhere but these stories really don't have a lot of convincing evidence, mostly appear for a short time and then people will forget it, these bitcoin ATMs are still operating until now or it has stopped working, it is a question without an answer. Therefore, do not rush to think that Venezuela is a suitable country to develop bitcoin, and bitcoin doesn't rebuild a country, it just builds assets for people who know how to use it
I agree with your opinion, but when a country installs a bitcoin atm, I think that the country supports its people to use bitcoin. because of that, I think it's appropriate to start developing Venezuelan thinking about cryptocurrency-based businesses, especially bitcoin.this is just an estimate that I have in mind, but with that in mind, I am sure Venezuela can use bitcoin to their advantage whether it is individuals or groups, and that can make Venezuela a step ahead. although there are people who think that it is a small thing, but the change also starts in small things.
according to the news that I read, a bitcoin-based ATM was installed in Venezuela on September 10 yesterday. this proves that Venezuela is one place that is suitable for the development of bitcoin. This will facilitate the use of bitcoin, bitcoin cash, and dash on Venezuela. for more information about this, you can read in https://cointelegraph.com/news/after-multiple-false-starts-venezuela-may-have-its-first-bitcoin-atm
How is Venezuela suitable for developing the ecosystem?
Venezuelans do not have a lot of mine to buy amounts of bitcoin... They search for food in garbage bins.
If you want to develop the ecosystem you should bring a developed country to bitcoin embrace. Otherwise, nothing is going to happen and the condition will be stagnant.
according to the news that I read, a bitcoin-based ATM was installed in Venezuela on September 10 yesterday. this proves that Venezuela is one place that is suitable for the development of bitcoin. This will facilitate the use of bitcoin, bitcoin cash, and dash on Venezuela. for more information about this, you can read in https://cointelegraph.com/news/after-multiple-false-starts-venezuela-may-have-its-first-bitcoin-atm
To be honest with you, the information you read always appears a lot every day, apply crypto and bitcoin ATMs, launch bitcoin's ATMs somewhere but these stories really don't have a lot of convincing evidence, mostly appear for a short time and then people will forget it, these bitcoin ATMs are still operating until now or it has stopped working, it is a question without an answer. Therefore, do not rush to think that Venezuela is a suitable country to develop bitcoin, and bitcoin doesn't rebuild a country, it just builds assets for people who know how to use it
according to the news that I read, a bitcoin-based ATM was installed in Venezuela on September 10 yesterday. this proves that Venezuela is one place that is suitable for the development of bitcoin. This will facilitate the use of bitcoin, bitcoin cash, and dash on Venezuela. for more information about this, you can read in https://cointelegraph.com/news/after-multiple-false-starts-venezuela-may-have-its-first-bitcoin-atm
Venezuela, first of all, needs sound management of the state economy. Without this, no Venezuelan cryptocurrency will save. If the economy is not effective and the funds are thoughtlessly used at the discretion of President Maduro, the country will steadily become poorer. Cryptocurrency can save some time against inflation, however, if this situation has dragged on for years, cryptocurrency will not help here.
Besides developing economic management, I think Venezuela must also form a healthy government, many officials think about themselves. By using cryptocurrency, I think it will improve the economy, if many people invest in crypto and the price of bitcoin soarsI don’t even know exactly what is going on about Venezuela and its crisis anymore because it has really been long that I read news about them, and I do hope that they have sort dot whatever issue that they have that is making them have all those problem, if they have not solved it, then the only solution to their problem would just be for them to change their leader first before they can even think off using cryptocurrency to stabilize their economy. At this their level, I don’t see cryptocurrency helping out.
The solution in that case is the shop runs a tab which is cleared every month or every week by 1 transaction in Bitcoin at the rate for that moment. If the shop cannot give that ability to hold the bill then its not going to work. Its common practice in a restaurant to eat a 3 course meal and wine and only pay at the end, I dont see why we cant improvise a solution where bills are cleared collectively.
If everything has to be cleared with zero time given and no trust available, FIAT will fail in many countries and I think only precious metal coins then work as various networks in infrastructure and finance fail. I'm a pretty big bear but I dont think we go to that point. Even if people prefer the gold as payment idea, its still going to be used to clear a bill done weekly or monthly and credit cards based on gold payment like that are available and similarly in Bitcoin I think this is possible.
If everything has to be cleared with zero time given and no trust available, FIAT will fail in many countries and I think only precious metal coins then work as various networks in infrastructure and finance fail. I'm a pretty big bear but I dont think we go to that point. Even if people prefer the gold as payment idea, its still going to be used to clear a bill done weekly or monthly and credit cards based on gold payment like that are available and similarly in Bitcoin I think this is possible.
No, it can't help Venezuela. Not yet.
I think the potential is there for crypto to help crisis-hit countries in the future, but we are still a long way away from that point. Bitcoin in particular, you're not going to go to the shop, pick up a bottle of milk, then stand at the till for hours waiting for the transaction to clear... and then when it finally does, Bitcoin has crashed 5% so the purchase is rejected anyway. No, USD is still the go-to standard in these situations.
But in the future, sure, there's a decent chance that fast, reliable crypto - one that doesn't suffer from price volatility - could be used as a safe haven.
I do think it's coming, but we are nowhere near that point yet.
I think the potential is there for crypto to help crisis-hit countries in the future, but we are still a long way away from that point. Bitcoin in particular, you're not going to go to the shop, pick up a bottle of milk, then stand at the till for hours waiting for the transaction to clear... and then when it finally does, Bitcoin has crashed 5% so the purchase is rejected anyway. No, USD is still the go-to standard in these situations.
But in the future, sure, there's a decent chance that fast, reliable crypto - one that doesn't suffer from price volatility - could be used as a safe haven.
I do think it's coming, but we are nowhere near that point yet.
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