Need not to be worry I guess. This is a not avery bad news for everyone related to the cryptocurrency. It is only cryptocurrency that everyone will accept and use as their main medium of transection very soon.
Topic: In Venezuela, Cryptocurrency Is an Oppressor and a Lifeline - page 3. (Read 568 times)
Although CryptoCarconi could not go to its proposed place, I certainly hope the cryptocurrency within a very short time will reach that level of success, hopefully Venezuelan investors will come back within a short span of time.
As I know Venezuela is the first country where the crypto will win the fiat currency. They have no other choice. Its seems to be very interesting.
Crypto is blessing for Venezuelans, have seen many of them on steemit earning good money than they would with venezuelan job.
If they use cryptocurrency instead of their fiat currency there will be high risks. I think it should used as a alternative currency only. Because as far as i concern fiat currency is also important.
Venezuelan investors are hoping to return to their own position within a short time. And there will be a time when most people in Venezuela will accept crypto currency as their means of exchange.
Recently I have seen some news about inflation in Venezuela, where Fiat has become out of control and people choose Bitcoin to protect themselves, in the hope that this will help people in that country get out of their current predicament as soon as possible.
A host of practical challenges hinder widespread use of Bitcoin and other cryptocurrencies in Venezuela in lieu of paper currency. But over the past few years, many Venezuelans have embraced the decentralized, censorship-resistant technology as a means of transferring and storing money without being slapped with hefty international transaction fees. The distributed nature of blockchain makes it nearly impossible for governments to alter transaction data or control the network, as long as that network remains decentralized.
https://www.pcmag.com/feature/362486/in-venezuela-cryptocurrency-is-an-oppressor-and-a-lifeline/1
I live not so far from Venezuela and so I will hope that they will embrace and accept cryptocurrency Just in the same way how Thailand does. I`m looking forward to go there in 2 months. https://www.pcmag.com/feature/362486/in-venezuela-cryptocurrency-is-an-oppressor-and-a-lifeline/1
Bitcoin will save venezuela and maybe turkey as well. Both economies are failing and there are few options available for the people. Only accept USD which is hard to get in troubled economies, or switch to crypto away from the control of useless governments
A host of practical challenges hinder widespread use of Bitcoin and other cryptocurrencies in Venezuela in lieu of paper currency. But over the past few years, many Venezuelans have embraced the decentralized, censorship-resistant technology as a means of transferring and storing money without being slapped with hefty international transaction fees. The distributed nature of blockchain makes it nearly impossible for governments to alter transaction data or control the network, as long as that network remains decentralized.
https://www.pcmag.com/feature/362486/in-venezuela-cryptocurrency-is-an-oppressor-and-a-lifeline/1
https://www.pcmag.com/feature/362486/in-venezuela-cryptocurrency-is-an-oppressor-and-a-lifeline/1
This particular issue is not limited to Venezuela alone but all across the world and that is the bane behind every society that have taken a negative stand against bitcoin expansion in their territory. The result of using bitcoin is more of a two sides of a coin where one party is losing, the other is winning just like this case, the people who engage in transactions are the one on the winning side while the government here is on the losing side as the portion of transaction fees that would go to them in form of taxes is now being eroded and we all know, government does not like to lose.
The only reasonable thing any government needs to do is to first identity that the movement cannot be stopped as no matter the ban rule, its not going to stop and the best approach is to find a way to tap into the system, design models, build policies and implement it that people would be free to use what they wanted and at the same time revenue lost from the bank sources can be generated from crypto service providers.
in very many countries - bitcoin has become a very reliable tool for saving and multiplying your money! In Venezuela, soon will be very popular crypto currency! it is already gaining momentum!)
I am sure that Venezuela will be the first country where the cryptocurrency will win fiat money! They have no other choice! Inflation is appalling!
jes maduro introduced venezuelas cryptocurrency already, and he is controlling it exactly the same like the bitcoin cult centre does it
People will try to use this technology because it is faster and cheaper than the traditional transaction system. I don't quite understand why crypto is called as a oppressor here.
I expect every dictatorship or shakey government that has a fear of their currency easily failing to start being against bitcoin as a capitalist weapon or something along that line, your North Korea's, Iran and Venezuelas.
the good thing about a decentralized currency like bitcoin is that nobody can do anything about it. it doesn't matter what the government of some countries may say about bitcoin, people will continue using it because they can not prevent it. even if they shut down the internet, you still can continue using bitcoin using satellite and radio waves to download the blockchain and send your tans cations to the network.
and that is how powerful bitcoin is.
I believe that they should embrace cryptos and tax use of them otherwise they are missing out on a nigcechunk of taxes and forcing these people to go underground.
As far as I have seen in some videos, the situation is very bad in their country . I hope they wil get out of this unfortunate situation.
As far as I have seen in some videos, the situation is very bad in their country . I hope they wil get out of this unfortunate situation.
I think Venezuela is utilizing this decentralized currency system very well. We all should accept cryptocurrencies. Because it gives some major benefits over the fiat money.
Sadly, they have nothing to lose at this point.
The Bolivar has nothing more to lose. The people who are clinging to life despite their economic hell still have everything to lose.
It’s a great step taken by the Venezuelans. The merits of using bitcoin a lot. Anyone can buy anything using bitcoin at any time without paying extra fees. Thumbs up to the Venezuelans for taking this step.
Lol what? The article says the government is actively trying to shut down exchanges because access to crypto apparently threatens their control over the economy. They're obviously grasping at straws because we all know that ship has sailed. VPNs still work though, so that's great I guess.
It’s a great step taken by the Venezuelans. The merits of using bitcoin a lot. Anyone can buy anything using bitcoin at any time without paying extra fees. Thumbs up to the Venezuelans for taking this step.
Cryptocurrency is the best currency for the transaction. It is easy to make payment using cryptocurrency. There is no inflation also in the crypto market. Venezuelans have done a great work. This is a great sign of future currency system.
There are many risks in the traditional currency system. If we buy anything we need to pay extra fees somewhere. It’s a burden to the people. Then there is a risk of inflation in the traditional currency. So, choosing cryptocurrency is the best option to use.
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