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Topic: This is how 0.037 Bitcoins looks like in Venezuela - page 15. (Read 31697 times)

sr. member
Activity: 266
Merit: 250
This is why Venezuela will be the first country to adopt a virtual currency.

You don't want any country to "adopt" a virtual currency. If a Government adopts bitcoin they will most surely try to enforce their power upon it, which will result in the devaluation that you see in your Venezuelan dollar.

It would be much better for Bitcoin to remain an independent option to fiat currency, allowing you and others to keep assets in it and those that choose not to can let their assets value with the flow of their fiat currency.

It's really interesting to see how much an average 2 weeks of salary looks like in Venezuela, are you also saying that that 2 weeks of salary is the equivalent of 12 USD?
legendary
Activity: 1288
Merit: 1000
Hoe much costs a house in venezuela? How much dollat will a hooker cost? Lol, i am curious about that, t
That people are so cheap in such countries Smiley
People are cheap because life is hard. They have no choice if they want to live. You can see that in this world there much more poor than rich people.
Majority of people on Earth are living for less than $2 per day. Governments of some countries are corrupted and don't care about people.
That is the only reason I can thigh of why they are banning bitcoin - something that can actually help people...
legendary
Activity: 1358
Merit: 1014
Hoe much costs a house in venezuela? How much dollat will a hooker cost? Lol, i am curious about that, t
That people are so cheap in such countries Smiley

If you are thinking about going there to feel the king of the hill I don't think it's a good idea. The place is probably very insecure and the life quality is probably shit unless you live on the richest parts and even then I think Venezuela has the highest crime rate on earth.
sr. member
Activity: 350
Merit: 250
Hoe much costs a house in venezuela? How much dollat will a hooker cost? Lol, i am curious about that, t
That people are so cheap in such countries Smiley
hero member
Activity: 742
Merit: 500
i cannot imagine how big their wallet would be just to buy a food
legendary
Activity: 2968
Merit: 1895
...

Hazir

Anyone with an online wallet who travels to Bolivia or Ecuador will then be breaking a law!  But, even so, the probability of getting caught is minimal.  Even taking a Trezor or Ledger to S. America would seem very safe.

The danger in trading BTC in Ecuador or Bolivia would be your trading partners.
legendary
Activity: 1596
Merit: 1005
★Nitrogensports.eu★
Inflation is real, or should we say - hyperinflation. No wonder South American countries are starting to worry about cryptos to the point they are banning bitcoin.
Bolivia and Ecuador already banned it. And soon it will be more problematic for you to own bitcoin there that to have 1 kilogram of cocaine, crazy.
hero member
Activity: 658
Merit: 500
It's look like you need car do bring your monthly salary home  Wink I can imagine what the price of coffee can be  Wink
hero member
Activity: 994
Merit: 1000
PUGG.io
Then everyone there should quit their daytime job and get into 100% Bitcoin.
Even me can make that much in one week and I'm only part time in Bitcoin.
And hero members will be treated as millionaire there.
legendary
Activity: 1582
Merit: 1006
beware of your keys.
holy shit, let's import bricks of this money to home, and get rich as it goes terminated by government due to the excessive inflation.
legendary
Activity: 1316
Merit: 1481
Absolutely crazy!
My BTC value way more than that! This is simply unbelievable.

I feel so sad that there are so many people all over the world in such difficult situations.

 Roll Eyes

24$ minimum wage... insane
hero member
Activity: 700
Merit: 500
that's beyond insane. you definitely feel rich if you have that much paper money, but as soon as you hear the value in usd you will get shocked.
even more so with zimbabwean currency, i think someone was selling a trillion zimbabwe dollar note for 0.03 BTC a while back here.

Well we have a thread in Bitcoin discussion on the value of 175 Quadrillion Zimbabwean dollars

175 Quadrillion Zimbabwean Dollars Now Equals $5

Quote
HARARE, Zimbabwe — Zimbabweans will start exchanging quadrillions of local dollars for a few U.S. dollars next week, as President Robert Mugabe's government discards its virtually worthless national currency.

At least Venezeula is nowhere near that scale for now.
(Imagine all the trillion bills to get to 175 Quadrillion in cash)
sr. member
Activity: 294
Merit: 250
★YoBit.Net★ 200+ Coins Exchange & Dice
This is why Venezuela will be the first country to adopt a virtual currency.

 0.037 Bitcoins o almost 12 Us$

It loos like a lot of money, but is the equivalent to half of the monthly minimum wage



wtf!!!!   almost it costs more 'to print the paper compared to the value of the banknote, zimbabwe 2.0?
legendary
Activity: 2884
Merit: 1115
Leading Crypto Sports Betting & Casino Platform
...

bolivarcoin

Please keep us up to date with BTC and Venezuela!

I have read numerous times that something similar (perhaps further along) is happening in Argentina too.  I know two relatively rich Argentines who go there fairly often and are both into BTC.  Yes, they live well when there.

There would likely be a lot of interesting ways to "play the arbitrage" between BTC, the Venezuelan Bolivar and the US$.

Alas I doubt they would allow short plays that would be some crazy price speculation
With the China news and trading relationships with Venezuela oil prices might move due to the rich resources they have but resource curse aside Bitcoin definitely can come in useful there.

http://www.bloomberg.com/news/articles/2015-08-10/ravaged-by-oil-s-collapse-venezuela-now-has-a-big-gold-problem
It does suck though that golds pawning them as well (someones likely manipulating those prices after a lot of countries demanded withdrawals ah the realm of international politics is dirty)  but if there was a great case to be made for Bitcoin adoption it would be good to see it get rolled out here.
http://blogs.reuters.com/great-debate/2013/03/13/what-will-become-of-chavezs-gold-hoard/
legendary
Activity: 2856
Merit: 1520
Bitcoin Legal Tender Countries: 2 of 206
go ahead Venezuelan's! roll-out the Bitcoin thing.
hero member
Activity: 590
Merit: 500
...

bolivarcoin

Please keep us up to date with BTC and Venezuela!

I have read numerous times that something similar (perhaps further along) is happening in Argentina too.  I know two relatively rich Argentines who go there fairly often and are both into BTC.  Yes, they live well when there.

There would likely be a lot of interesting ways to "play the arbitrage" between BTC, the Venezuelan Bolivar and the US$.

OROBTC i give you a bit more of information, in Argentina the foreing currency exchange its controlled by the government, you can buy only a small amount, this is to stop the Argentinian money to leave the country, this happens because lots of Argentinians dnt trust the central bank, the government and institution, so they buy foreing currency in the black market, its called "Dolar Blue" when you trade with bitcoins, you dnt trade with this institutions or the black market, and why people trade with bitcoins in argentina? there are two main reason, number one, they need to make or receive payments over the internet and they need to use this virtual currency, number two they need to take out the country large amount of money that they cant take in 100$bills.

In Venezuela its a similar but diferent story, Venezuela is one of the richest countries on earth, it has the biggest oil reserves, and lots of minerals and water, Venezuela has the cheapest electricity and petrol prices on earth, and the minimun wage its only 20$, in comparation with Argentina, that has much less mineral resources than Venezuela and the petrol and electricity prices are much higher, and the minimun wage is higher.
But what happened, why in Venezuela 12$ is worth a pile of venezuela money?
The story its really long and hard to explain and it start in 1956 when Venezuela was one, or if not the most prosperous country in the world, so, a short explanation is that his recent governments used all the money that came from the oil and use it give to its citizens in way that it will not create any improvement to the economy, and all this so they can stay on power, so they keep printing money and giving it to the people creating so much inflation that now some say that is 800% for 2015.
Venezuela has no created new bills with high value, and for some reason the bills are disappearing from the banks, if you want to withdraw from the bank you can have only a small amount.
I will post some images from social media, some of this images are from 3 months ago, some of the prices of goods triple



legendary
Activity: 1946
Merit: 1007
that's beyond insane. you definitely feel rich if you have that much paper money, but as soon as you hear the value in usd you will get shocked.
even more so with zimbabwean currency, i think someone was selling a trillion zimbabwe dollar note for 0.03 BTC a while back here.

If i'm correct they have already started exchanging the zimbabwean dollars to us dollars at a rate of 250 quadrillion to one dollar. I'm afraid they won't be using btc there for now.
legendary
Activity: 3248
Merit: 1070
isn't zimbabwe in a much worse condition, there is no even a comparison, quadrillion of toilet paper are worth even less than 0.03 there, they are really producing "air" in those poor country

i think it's better for them to follow the crypto route at this point, or embrace bitcoin altogether
sr. member
Activity: 252
Merit: 250
comparison for 0037 alone is as much as the it how for 1 bitcoin it may take a suitcase to carry it  Grin
sr. member
Activity: 364
Merit: 250
that's beyond insane. you definitely feel rich if you have that much paper money, but as soon as you hear the value in usd you will get shocked.
even more so with zimbabwean currency, i think someone was selling a trillion zimbabwe dollar note for 0.03 BTC a while back here.
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