Topic: How did Bitcoin save Venezuela? (Read 1465 times)
Actually Bitcoin doesn't really save Venezuela, the people there used their mind or their intelligence for them to be saved due to financial crisis that they encountered. They just used Bitcoin for them to buy foods, or other things that they can used in their daily living. They can also do the transactions by just paying low fee transactions that's why they prefer to used Bitcoin at that time.
Bitcoin didn't help much as Venezuela created its own currency. Also you should rather avoid buying their currency as it might be illegal to do so in your country as there are sanction against Venezuela.
Yeah i hear that news to
Because when the market colapsed and make people hungry with high price with food
And venezuela release coin that backed by their oil supply
I think their econmy can rising high and stablize due their coin market
Because when the market colapsed and make people hungry with high price with food
And venezuela release coin that backed by their oil supply
I think their econmy can rising high and stablize due their coin market
And the exploitation of Bitcoin has become a tool to rescue the people of the country because they can take advantage of low electricity prices to exploit.
It has helped Venezuela to recover from debts but it has not saved it because nothing can save a country collapsing due to economic crices and a digital currency cannot help it out.The people working for it has helped and the favourable moves taken by the government has lead to rise of the nation.They have been to able to restructure their financial administration by getting motivated by the cryptos and taking early mover advantage. That's it which has helped it to recover. Bitcoin is now part of the daily life of many venezuelans. Whether it's buying food, airline tickets or paying employees, bitcoin is now a common form of payment for venezuelans. Frankly, many people in this country live on cryptocurrency.
I don't believe that. You can sell bitcoins and get your hands on cash but how do you buy food if you have nothing in stores? This is a confirmation that the country's economy can not use cryptocurrencies. There will always be a real sector that uses Fiat in its activities. And the virtual sector which can use everything but decisive value on economy it doesn't render.
Venezuela proved that a centralized financial system has a tendency to implode. Of course we already know that but they showed us how horrible it is if it happens. Bitcoin cant save vanenzuela right now, as it is in its early adoption stage, but maybe Venezuela can reform its financial system with inspirations from crypto.
At its current state, maybe citizens of vanezuela could put their money in bitcoin, to keep it safe while the government puts its effort in reestablishing its economy.
At its current state, maybe citizens of vanezuela could put their money in bitcoin, to keep it safe while the government puts its effort in reestablishing its economy.
Bitcoin does not eliminate the middle man since a third party is still needed to convert the coins to dollars, and Bitcoin is not saving Venezuela.
Do you think the whole of venezuela worked for btcs exploitation? The hardwork of some in btcs and some in fiats jointly helped in it
Yea I heard about it and I think there was a major role of btcs behind it. I still cant believe btcs can do such a wonder
Bitcoin is now part of the daily life of many venezuelans. Whether it's buying food, airline tickets or paying employees, bitcoin is now a common form of payment for venezuelans. Frankly, many people in this country live on cryptocurrency.
How do you know that? Have you been there? Have you talked to people in Venezuela having made the switch to Bitcoin? You are just basing your 'knowledge' on the few articles you have seen/'read', and that's really it. No doubt that there is a minority in Venezuala actually using Bitcoin to conduct transactions, but the way it's getting hyped up is totally not justified. I remember how people back in 2013 said the same about Cyprus. The all time high at that point according to people was solely dedicated to the spiking demand in Cyprus, due to the severe financial problems of that country. If people back then were really dumping their capital into Bitcoin on a massive scale, the market would have reacted in a completely different way, especially with how insignificant the market at that point was.
Btcs cant save venezuela...the will of people to get saved helped them
Bitcoin is now part of the daily life of many venezuelans. Whether it's buying food, airline tickets or paying employees, bitcoin is now a common form of payment for venezuelans. Frankly, many people in this country live on cryptocurrency.
Venezuela has been change with being poor country with high inflation even recently i watching the news that their official currency Bolivar does not valuable any longer even people at there if they're working they don't want to paid use their local money however bitcoin can provide opportunities to save the particular countries but only if their government more concern and officially admit bitcoin and support all of bitcoin users on that country
And the exploitation of Bitcoin has become a tool to rescue the people of the country because they can take advantage of low electricity prices to exploit.
I think that Bitcoin did not save Venezuela because Venezuela is not saved at all. The same problems persist in the country and it does not seem to be a solution for the moment.
I am a newbie, can you please tell me what this venezuela matter is?
not just venezuela but bitcoin is able to make many developing countries and away from poverty just waiting time when all heard it because until now many have helped the existence of bitcoin, hopefully this will continue and make me dream beautifully throughout life.
Their legal currency, bolivar, has been falling at a staggering rate, thanks to rampant inflation in venezuela, where venezuelans use the BTC to preserve their assets.
Because through BTC can be very good conversion to other countries legal tender! You can also buy things online via BTC!
Because through BTC can be very good conversion to other countries legal tender! You can also buy things online via BTC!
Venezuela is run by dictator Maduro and the country is bankrupt. The population is so poor and inflation is gigantic, the Bolivar is worthless. People who can afford to buy Bitcoin must be filthy rich or belong to the elite of Maduro. He created his own crypto called Petro, the value would be 1 barrel of crude oil. This is how he thinks to make some money, avoiding the US sanctions. But that's just to keep him in the saddle. It's not for the people.
And the exploitation of Bitcoin has become a tool to rescue the people of the country because they can take advantage of low electricity prices to exploit.
I think that Bitcoin did not save Venezuela because Venezuela is not saved at all. The same problems persist in the country and it does not seem to be a solution for the moment.
I agree with you...the bitcoins did saved venezuela by showing people to get self employed
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