Supporting Families in Venezuela with Bitcoin

KingScorpio

sr. member

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Quote from: CoinMoz on July 29, 2018, 04:43:15 AM

Quote from: eternalgloom on July 23, 2018, 08:03:26 AM

I was wondering if there is a way to support families in Venezuela through Bitcoin.
Perhaps you've heard about this person who asked for help in the Nano subreddit and eventually received enough Nano to buy 300KGS of food for his small community in Venezuela.

This is the story, which I've also posted in Altcoin Discussion:

Quote from: eternalgloom on July 13, 2018, 07:38:11 AM

Sorry if there is already a topic about this, but there has recently been a new update on this story, so I'm making a new one.

Reddit user 'Windows7733' recently made a topic on Reddit, saying that someone donated 0.5 Nano to him, which was almost an entire month's salary.
He used it to buy food for himself and his relatives.

Now after this story broke out, he has since then been able to buy a whopping 300KG of food for the people around him.
He's receiving more Nano every day, so soon he'll be able to buy even more food.

Check out the topics here:
https://www.reddit.com/r/nanocurrency/comments/8v6dcy/got_my_first_05_nano_venezuelan_user/?st=jj97a6ns&sh=4d530240 (first topic)
https://www.reddit.com/r/nanocurrency/comments/8yfmrp/update_venezuelans_are_ready_to_work_with_you/ (update topic)

Very interesting story to say the least.

Now my real question: Is there a way to come into contact with individual people of families in Venezuela and support them through micro crypto donations?
It would be pretty amazing if there was a platform that made something like this possible.

I know this sort of thing could be abused, but it could be possible with a decent verification process and personal contact between donor and person in need.

When you read that story on the Nano subreddit, the guy from Venezuela mentions that 0.5 Nano (around 1.4 USD at time of writing) is almost an entire month's salary!
If I could possibly help people that much, with just donating a few dollars worth of crypto, count me in!

Wasn't sure whether to post this in Serious Discussion or here, can always move the topic when needed.

I don't understand 80% of the comments here, People have no funds to buy the food.

venezuelans are supposed to fund their productive infrastructure. not destroy it with bitcoin mining. then they would have the funds to buy food.

audaciousbeing

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Activity: 1330

Merit: 569

I just read about how bad the economic situation of that country is with serious hyper inflation battling with them over there close of one million percent and every policy even the restructuring of their currency not addressing the challenge that they have at the moment. Its unfortunate that the managers of such economy have failed in their basic duty which is to ensure people gets something to eat with their minimum wage which I don't see as asking for too much from the government that ask for your help in having the power to rule over you in the first instance.

I would like to see a platform where one can donate but that is really not going to solve the problem rather than putting pressure on world economic advisors to put pressure on that country to do the right thing. Several countries have been in the same position before and they came out. Its time they start to do the right thing the right way for the benefit of their citizens.

CoinMoz

newbie

Activity: 12

Merit: 0

Quote from: eternalgloom on July 23, 2018, 08:03:26 AM

I was wondering if there is a way to support families in Venezuela through Bitcoin.
Perhaps you've heard about this person who asked for help in the Nano subreddit and eventually received enough Nano to buy 300KGS of food for his small community in Venezuela.

This is the story, which I've also posted in Altcoin Discussion:

Quote from: eternalgloom on July 13, 2018, 07:38:11 AM

Sorry if there is already a topic about this, but there has recently been a new update on this story, so I'm making a new one.

Reddit user 'Windows7733' recently made a topic on Reddit, saying that someone donated 0.5 Nano to him, which was almost an entire month's salary.
He used it to buy food for himself and his relatives.

Now after this story broke out, he has since then been able to buy a whopping 300KG of food for the people around him.
He's receiving more Nano every day, so soon he'll be able to buy even more food.

Check out the topics here:
https://www.reddit.com/r/nanocurrency/comments/8v6dcy/got_my_first_05_nano_venezuelan_user/?st=jj97a6ns&sh=4d530240 (first topic)
https://www.reddit.com/r/nanocurrency/comments/8yfmrp/update_venezuelans_are_ready_to_work_with_you/ (update topic)

Very interesting story to say the least.

Now my real question: Is there a way to come into contact with individual people of families in Venezuela and support them through micro crypto donations?
It would be pretty amazing if there was a platform that made something like this possible.

I know this sort of thing could be abused, but it could be possible with a decent verification process and personal contact between donor and person in need.

When you read that story on the Nano subreddit, the guy from Venezuela mentions that 0.5 Nano (around 1.4 USD at time of writing) is almost an entire month's salary!
If I could possibly help people that much, with just donating a few dollars worth of crypto, count me in!

Wasn't sure whether to post this in Serious Discussion or here, can always move the topic when needed.

It's great to see when someone from the community will step up and offer help with few bucks, wherein Venezuela it's a month's salary and can improve someone's live by a mile. I don't understand 80% of the comments here, where people are debating about mining, electricity etc. People have no funds to buy the food

I would donate in EUR or BTC / ETH / BCH / ... if I knew that funds will reach the most needed ones.

Fair play to you eternalgloom. You have a kind heart.

KingScorpio

sr. member

Activity: 1470

Merit: 325

Quote from: Kprawn on July 28, 2018, 10:23:25 AM

Quote from: KingScorpio on July 27, 2018, 09:56:53 AM

Quote from: Kprawn on July 27, 2018, 09:27:27 AM

Quote from: eternalgloom on July 27, 2018, 05:20:55 AM

Quote from: Kakmakr on July 27, 2018, 01:30:53 AM

Do your research before you post please. They already created their own currency : https://en.wikipedia.org/wiki/Petro_(cryptocurrency), called the The petro, or petromoneda. Roll Eyes

The problem with that is that it is a Crypto currency developed by the government of Venezuela and we know they failed already, so why would people want to support that?

When governments control Crypto currencies, things like this happens :
https://www.reuters.com/article/us-venezuela-economy/maduro-says-venezuela-will-issue-5-9-billion-in-oil-backed-cryptocurrency-idUSKBN1EV02S

They also did this for the wrong reasons :
http://time.com/5206835/exclusive-russia-petro-venezuela-cryptocurrency/

Do you still believe that it is a good idea for governments to control Crypto currencies?

Wasn't sure if he actually meant a government-issued crypto, but if he did, the Petro is indeed a great example of what a shit-show that would be.

Quote from: KingScorpio on July 26, 2018, 05:22:58 PM

for value transfer there are many much better alternatives, like ethereum, zcash, btcash, you have to sell early then its not an issue.

even ripple which i dont like, is an alternative.

I still think Bitcoin would be the better choice for that, those other cryptos you've mentioned are much more volatile than Bitcoin and aren't accepted as widely.
I imagine you have very limited options for exchanging crypto in developing countries, so it's better to use Bitcoin.

This is really derailing the topic a lot, since it has nothing to do with the discussion at hand.
I'm just looking for ways to support individual families in Venezuela, that's it...

You are 100% correct. The other Alt coins he mentioned is total shit for this purpose. You want a coin with a good Store of

Value and Bitcoin has proven that it can be a very good Store of Value. Unfortunately these people cannot afford to wait

for months for their investment in Bitcoin to be a good Store of Value, because most of them live from hand to mouth. They

need something with a more stable value and a lot less volatility. {This is why they are using the Dollar} The people that are

investing in Bitcoin, is those people who have disposable income that they would have deposited into a Bank.

in a developing country i wouldnt bet on bitcoin, bitcoin and its pow concept is basically a fist into everyones face who lives in a poor developing country.

i am currently wirting an article about that with one of my teammembers.

https://www.cryptoproductivity.com/single-post/2018/05/30/Mark-Our-Words-On-next-food-price-crisis-the-empty-proof-of-woork-cryptos-like-bitcoin-litecoin-etc-will-be-the-welcome-scapegoat-everybody-is-looking-for-and-everybody-will-use-out-of-opportunistic-reasons

your problem is that you still define value in us dollars, but thats a falacy, the us dollar will crush and then bitcoin will be evaluate for what it stands for, a social media active energy wasting cryptosect. people will then threat you different, and you wont be able to find gamblers willing to gamble with bitcoin around, especially when the gambling banksters in the west that sustainably cause the bitcoin waves will be gone.

furthermore there will be new market movements, fragmentising away from your current market and index. let see how you will be able to deal with those.

I am not a supporter of using the USD as a Store of Value, I am just saying the USD is the most stable currency for them to

protect the value of their wealth at the moment. The USD can also be used in most other countries, so it is just practical for

them to store their wealth in a currency that are widely accepted. If I was a global company and my local currency is failing,

then I would rather accept a currency that gives me stability and flexibility. The USD does not lose 20% of it's value in a day,

but the same cannot be said about their local currency. Roll Eyes

You judge a currency on what is happening now, not what is

going to happen, 2 or 3 years from now, because you use that currency daily. Wink

value of a currency comes from people that are willing to support it. i doubt bitcoin is more sustainable than usd, because you have to consider for what it stands for

Kprawn

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Activity: 1904

Merit: 1073

Quote from: KingScorpio on July 27, 2018, 09:56:53 AM

Quote from: Kprawn on July 27, 2018, 09:27:27 AM

Quote from: eternalgloom on July 27, 2018, 05:20:55 AM

Quote from: Kakmakr on July 27, 2018, 01:30:53 AM

Do your research before you post please. They already created their own currency : https://en.wikipedia.org/wiki/Petro_(cryptocurrency), called the The petro, or petromoneda. Roll Eyes

The problem with that is that it is a Crypto currency developed by the government of Venezuela and we know they failed already, so why would people want to support that?

When governments control Crypto currencies, things like this happens :
https://www.reuters.com/article/us-venezuela-economy/maduro-says-venezuela-will-issue-5-9-billion-in-oil-backed-cryptocurrency-idUSKBN1EV02S

They also did this for the wrong reasons :
http://time.com/5206835/exclusive-russia-petro-venezuela-cryptocurrency/

Do you still believe that it is a good idea for governments to control Crypto currencies?

Wasn't sure if he actually meant a government-issued crypto, but if he did, the Petro is indeed a great example of what a shit-show that would be.

Quote from: KingScorpio on July 26, 2018, 05:22:58 PM

for value transfer there are many much better alternatives, like ethereum, zcash, btcash, you have to sell early then its not an issue.

even ripple which i dont like, is an alternative.

I still think Bitcoin would be the better choice for that, those other cryptos you've mentioned are much more volatile than Bitcoin and aren't accepted as widely.
I imagine you have very limited options for exchanging crypto in developing countries, so it's better to use Bitcoin.

This is really derailing the topic a lot, since it has nothing to do with the discussion at hand.
I'm just looking for ways to support individual families in Venezuela, that's it...

You are 100% correct. The other Alt coins he mentioned is total shit for this purpose. You want a coin with a good Store of

Value and Bitcoin has proven that it can be a very good Store of Value. Unfortunately these people cannot afford to wait

for months for their investment in Bitcoin to be a good Store of Value, because most of them live from hand to mouth. They

need something with a more stable value and a lot less volatility. {This is why they are using the Dollar} The people that are

investing in Bitcoin, is those people who have disposable income that they would have deposited into a Bank.

in a developing country i wouldnt bet on bitcoin, bitcoin and its pow concept is basically a fist into everyones face who lives in a poor developing country.

i am currently wirting an article about that with one of my teammembers.

https://www.cryptoproductivity.com/single-post/2018/05/30/Mark-Our-Words-On-next-food-price-crisis-the-empty-proof-of-woork-cryptos-like-bitcoin-litecoin-etc-will-be-the-welcome-scapegoat-everybody-is-looking-for-and-everybody-will-use-out-of-opportunistic-reasons

your problem is that you still define value in us dollars, but thats a falacy, the us dollar will crush and then bitcoin will be evaluate for what it stands for, a social media active energy wasting cryptosect. people will then threat you different, and you wont be able to find gamblers willing to gamble with bitcoin around, especially when the gambling banksters in the west that sustainably cause the bitcoin waves will be gone.

furthermore there will be new market movements, fragmentising away from your current market and index. let see how you will be able to deal with those.

I am not a supporter of using the USD as a Store of Value, I am just saying the USD is the most stable currency for them to

protect the value of their wealth at the moment. The USD can also be used in most other countries, so it is just practical for

them to store their wealth in a currency that are widely accepted. If I was a global company and my local currency is failing,

then I would rather accept a currency that gives me stability and flexibility. The USD does not lose 20% of it's value in a day,

but the same cannot be said about their local currency. Roll Eyes

You judge a currency on what is happening now, not what is

going to happen, 2 or 3 years from now, because you use that currency daily. Wink

KingScorpio

sr. member

Activity: 1470

Merit: 325

Quote from: eternalgloom on July 27, 2018, 05:40:33 PM

Quote from: KingScorpio on July 27, 2018, 09:56:53 AM

in a developing country i wouldnt bet on bitcoin, bitcoin and its pow concept is basically a fist into everyones face who lives in a poor developing country.

i am currently wirting an article about that with one of my teammembers.

https://www.cryptoproductivity.com/single-post/2018/05/30/Mark-Our-Words-On-next-food-price-crisis-the-empty-proof-of-woork-cryptos-like-bitcoin-litecoin-etc-will-be-the-welcome-scapegoat-everybody-is-looking-for-and-everybody-will-use-out-of-opportunistic-reasons

your problem is that you still define value in us dollars, but thats a falacy, the us dollar will crush and then bitcoin will be evaluate for what it stands for, a social media active energy wasting cryptosect. people will then threat you different, and you wont be able to find gamblers willing to gamble with bitcoin around, especially when the gambling banksters in the west that sustainably cause the bitcoin waves will be gone.

furthermore there will be new market movements, fragmentising away from your current market and index. let see how you will be able to deal with those.

Yeah I can't take anything you say serious, you sound like one those doomsday prophets on Youtube.
Plus, can't really call that magazine of yours a serious publication, you even spelled "resources" wrong in the menu Roll Eyes

Yes mining is very resource intensive, but that's not a deterrent for people to still do it. There is profit to be made and electricity has become more accessible than ever.
I don't even know why I have to say all this, since this has nothing to do with this topic.

oh boy, said by someone living in a socialist country, having no idea, how electricity networks are being maintained, the jungle of south america doesn care about the electricity network in venezuela, you know what, go ahead, no use trying to talk reason into you and your situation, bitcoin will make your situation only worse.

eternalgloom

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Activity: 1792

Merit: 1283

Quote from: KingScorpio on July 27, 2018, 09:56:53 AM

in a developing country i wouldnt bet on bitcoin, bitcoin and its pow concept is basically a fist into everyones face who lives in a poor developing country.

i am currently wirting an article about that with one of my teammembers.

https://www.cryptoproductivity.com/single-post/2018/05/30/Mark-Our-Words-On-next-food-price-crisis-the-empty-proof-of-woork-cryptos-like-bitcoin-litecoin-etc-will-be-the-welcome-scapegoat-everybody-is-looking-for-and-everybody-will-use-out-of-opportunistic-reasons

your problem is that you still define value in us dollars, but thats a falacy, the us dollar will crush and then bitcoin will be evaluate for what it stands for, a social media active energy wasting cryptosect. people will then threat you different, and you wont be able to find gamblers willing to gamble with bitcoin around, especially when the gambling banksters in the west that sustainably cause the bitcoin waves will be gone.

furthermore there will be new market movements, fragmentising away from your current market and index. let see how you will be able to deal with those.

Yeah I can't take anything you say serious, you sound like one those doomsday prophets on Youtube.
Plus, can't really call that magazine of yours a serious publication, you even spelled "resources" wrong in the menu Roll Eyes

Yes mining is very resource intensive, but that's not a deterrent for people to still do it. There is profit to be made and electricity has become more accessible than ever.
I don't even know why I have to say all this, since this has nothing to do with this topic.

KingScorpio

sr. member

Activity: 1470

Merit: 325

Quote from: Kprawn on July 27, 2018, 09:27:27 AM

Quote from: eternalgloom on July 27, 2018, 05:20:55 AM

Quote from: Kakmakr on July 27, 2018, 01:30:53 AM

Do your research before you post please. They already created their own currency : https://en.wikipedia.org/wiki/Petro_(cryptocurrency), called the The petro, or petromoneda. Roll Eyes

The problem with that is that it is a Crypto currency developed by the government of Venezuela and we know they failed already, so why would people want to support that?

When governments control Crypto currencies, things like this happens :
https://www.reuters.com/article/us-venezuela-economy/maduro-says-venezuela-will-issue-5-9-billion-in-oil-backed-cryptocurrency-idUSKBN1EV02S

They also did this for the wrong reasons :
http://time.com/5206835/exclusive-russia-petro-venezuela-cryptocurrency/

Do you still believe that it is a good idea for governments to control Crypto currencies?

Wasn't sure if he actually meant a government-issued crypto, but if he did, the Petro is indeed a great example of what a shit-show that would be.

Quote from: KingScorpio on July 26, 2018, 05:22:58 PM

for value transfer there are many much better alternatives, like ethereum, zcash, btcash, you have to sell early then its not an issue.

even ripple which i dont like, is an alternative.

I still think Bitcoin would be the better choice for that, those other cryptos you've mentioned are much more volatile than Bitcoin and aren't accepted as widely.
I imagine you have very limited options for exchanging crypto in developing countries, so it's better to use Bitcoin.

This is really derailing the topic a lot, since it has nothing to do with the discussion at hand.
I'm just looking for ways to support individual families in Venezuela, that's it...

You are 100% correct. The other Alt coins he mentioned is total shit for this purpose. You want a coin with a good Store of

Value and Bitcoin has proven that it can be a very good Store of Value. Unfortunately these people cannot afford to wait

for months for their investment in Bitcoin to be a good Store of Value, because most of them live from hand to mouth. They

need something with a more stable value and a lot less volatility. {This is why they are using the Dollar} The people that are

investing in Bitcoin, is those people who have disposable income that they would have deposited into a Bank.

in a developing country i wouldnt bet on bitcoin, bitcoin and its pow concept is basically a fist into everyones face who lives in a poor developing country.

i am currently wirting an article about that with one of my teammembers.

https://www.cryptoproductivity.com/single-post/2018/05/30/Mark-Our-Words-On-next-food-price-crisis-the-empty-proof-of-woork-cryptos-like-bitcoin-litecoin-etc-will-be-the-welcome-scapegoat-everybody-is-looking-for-and-everybody-will-use-out-of-opportunistic-reasons

your problem is that you still define value in us dollars, but thats a falacy, the us dollar will crush and then bitcoin will be evaluate for what it stands for, a social media active energy wasting cryptosect. people will then threat you different, and you wont be able to find gamblers willing to gamble with bitcoin around, especially when the gambling banksters in the west that sustainably cause the bitcoin waves will be gone.

furthermore there will be new market movements, fragmentising away from your current market and index. let see how you will be able to deal with those.

Kprawn

legendary

Activity: 1904

Merit: 1073

Quote from: eternalgloom on July 27, 2018, 05:20:55 AM

Quote from: Kakmakr on July 27, 2018, 01:30:53 AM

Do your research before you post please. They already created their own currency : https://en.wikipedia.org/wiki/Petro_(cryptocurrency), called the The petro, or petromoneda. Roll Eyes

The problem with that is that it is a Crypto currency developed by the government of Venezuela and we know they failed already, so why would people want to support that?

When governments control Crypto currencies, things like this happens :
https://www.reuters.com/article/us-venezuela-economy/maduro-says-venezuela-will-issue-5-9-billion-in-oil-backed-cryptocurrency-idUSKBN1EV02S

They also did this for the wrong reasons :
http://time.com/5206835/exclusive-russia-petro-venezuela-cryptocurrency/

Do you still believe that it is a good idea for governments to control Crypto currencies?

Wasn't sure if he actually meant a government-issued crypto, but if he did, the Petro is indeed a great example of what a shit-show that would be.

Quote from: KingScorpio on July 26, 2018, 05:22:58 PM

for value transfer there are many much better alternatives, like ethereum, zcash, btcash, you have to sell early then its not an issue.

even ripple which i dont like, is an alternative.

I still think Bitcoin would be the better choice for that, those other cryptos you've mentioned are much more volatile than Bitcoin and aren't accepted as widely.
I imagine you have very limited options for exchanging crypto in developing countries, so it's better to use Bitcoin.

This is really derailing the topic a lot, since it has nothing to do with the discussion at hand.
I'm just looking for ways to support individual families in Venezuela, that's it...

You are 100% correct. The other Alt coins he mentioned is total shit for this purpose. You want a coin with a good Store of

Value and Bitcoin has proven that it can be a very good Store of Value. Unfortunately these people cannot afford to wait

for months for their investment in Bitcoin to be a good Store of Value, because most of them live from hand to mouth. They

need something with a more stable value and a lot less volatility. {This is why they are using the Dollar} The people that are

investing in Bitcoin, is those people who have disposable income that they would have deposited into a Bank.

eternalgloom

legendary

Activity: 1792

Merit: 1283

Quote from: Kakmakr on July 27, 2018, 01:30:53 AM

Do your research before you post please. They already created their own currency : https://en.wikipedia.org/wiki/Petro_(cryptocurrency), called the The petro, or petromoneda. Roll Eyes

The problem with that is that it is a Crypto currency developed by the government of Venezuela and we know they failed already, so why would people want to support that?

When governments control Crypto currencies, things like this happens :
https://www.reuters.com/article/us-venezuela-economy/maduro-says-venezuela-will-issue-5-9-billion-in-oil-backed-cryptocurrency-idUSKBN1EV02S

They also did this for the wrong reasons :
http://time.com/5206835/exclusive-russia-petro-venezuela-cryptocurrency/

Do you still believe that it is a good idea for governments to control Crypto currencies?

Wasn't sure if he actually meant a government-issued crypto, but if he did, the Petro is indeed a great example of what a shit-show that would be.

Quote from: KingScorpio on July 26, 2018, 05:22:58 PM

for value transfer there are many much better alternatives, like ethereum, zcash, btcash, you have to sell early then its not an issue.

even ripple which i dont like, is an alternative.

I still think Bitcoin would be the better choice for that, those other cryptos you've mentioned are much more volatile than Bitcoin and aren't accepted as widely.
I imagine you have very limited options for exchanging crypto in developing countries, so it's better to use Bitcoin.

This is really derailing the topic a lot, since it has nothing to do with the discussion at hand.
I'm just looking for ways to support individual families in Venezuela, that's it...

Kakmakr

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Activity: 3430

Merit: 1957

Leading Crypto Sports Betting & Casino Platform

Do your research before you post please. They already created their own currency : https://en.wikipedia.org/wiki/Petro_(cryptocurrency), called the The petro, or petromoneda. Roll Eyes

The problem with that is that it is a Crypto currency developed by the government of Venezuela and we know they failed already, so why would people want to support that?

When governments control Crypto currencies, things like this happens :
https://www.reuters.com/article/us-venezuela-economy/maduro-says-venezuela-will-issue-5-9-billion-in-oil-backed-cryptocurrency-idUSKBN1EV02S

They also did this for the wrong reasons :
http://time.com/5206835/exclusive-russia-petro-venezuela-cryptocurrency/

Do you still believe that it is a good idea for governments to control Crypto currencies?

KingScorpio

sr. member

Activity: 1470

Merit: 325

Quote from: eternalgloom on July 26, 2018, 04:30:45 PM

Quote from: KingScorpio on July 26, 2018, 09:38:58 AM

Quote from: Kakmakr on July 26, 2018, 04:33:36 AM

Quote from: KingScorpio on July 24, 2018, 11:37:23 AM

Quote from: Kakmakr on July 24, 2018, 01:40:22 AM

Quote from: KingScorpio on July 23, 2018, 08:54:55 AM

Quote from: Kakmakr on July 23, 2018, 08:48:02 AM

I think it will also be nice if we can follow Paxful's example of how they stepped in to assist people who struggled with Bitcoin, when Backpage.com stopped accepting payment via Visa and MasterCard.

The people in Venezuela needs someone to help them to protect their current wealth from losing value and one of the ways of doing this is to convert it into a currency like Bitcoin that can be used as a store of value.

lol this forum is so full of idiots who think and speak without understanding and considering the bigger socioeconomic environment.

bitcoin will destroy their wealth even more because the socialist oriented infrastructure, workers will stop working, they will stop supplying their country men with elctricity or internet and simply create their own currency, the venzuelans will end up even poorer than before, if they abuse their socialist provided infrastrucutre for bitcoin mining.

are you even aware about the amount of labour necessary to upkeep a countries infrastructure to have internet and electricity?

-> you mine and support bitcoin in venezuella -> you will run out of infrastructure work in your community, no more socialism, no more electricity, no more internet.

venezuelans should instantly switch to stone paper or metal money if they even consider using bitcoin and screw the socialist infrastructure workers.

the socialist infrastructure worker in venezuella are not stupid programmed robots or money earning cattle, they are people like me and you, who think, trust and believe in a socialist vision, if they see, the infrastructure they were building being abused and wasted for mining bitcoin, like the russians did in early socialism (1918-1920) when they fed free socialist provided bread to their pigs, its over with socialism

get ready for king maduro of venezuella

regards

Quote

Do not give a man a fish, rather teach him how to fish. Wink

mining bitcoin isnt just fishing its also throwing with stones sitting in a house of glass.

This forum is full of people, who cannot read and then make political statements that are not even applicable to this discussion. I never even mentioned mining in my reply, so I do not see where you got that from. ^idiot^

I do not care what their political views are, whatever they are doing now, is definitely not working. Some of the poorest countries in the world, have these socialist ideals. ^lol^

I am speaking to the people who can see that this is not working and who wants to protect their wealth. Examples : Zimbabwe / Greece / Cyprus

their economy wont become better if you add an election via installed computation power. their economy will become worse, because then instead of using their infrastructure for development of values, they will waste it for mining "bitcoin" but there is no way to prevent that i suppose, they might be very selfish and idiotic and short term thinking, venezuelans are in that situation for a reason anyway.

You are still stuck on the mining thing for some reason. Roll Eyes

Here is an example of what one of those citizens are doing to help those people and it has nothing to do with mining :
https://old.reddit.com/r/Bitcoin/comments/91r3eg/ama_venezuela/

You basically convert your local currency, in this case Bolivar to Bitcoin to protect it's value. You do not have to mine it, because there are enough out there already.

Bitcoin can then protect the value more than the hyperinflation that are killing the Bolivar at the moment. So I hope you understand what we are trying to say here. This was done during the economic crisis to protect other currencies too, like Greece and Zimbabwe, when they also battled with similar problems.

yes the mining thing is important it makes the popularity of bitcoin in the developing world that suffer in their economy due to electricity shortages, absurd, they need currency that are being created through people solving their problems, not creating new ones or wasting ressources.

they dont need bitcoin, they can simply create their own local currencies.

They can create their own local currencies, you say? And how would those "local currencies" have value?
No, they need something that holds value on the international markets, even if it's just a temporary solution.

Oh come on, what you're saying doesn't even make sense. Bitcoin certainly isn't popular in the developing world because of the mining aspect, it's popular because it's way cheaper to transfer money, than Western Union for example.

for value transfer there are many much better alternatives, like ethereum, zcash, btcash, you have to sell early then its not an issue.

even ripple which i dont like, is an alternative.

Chaki_

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If we have contact for legal and registered group of charities in Venezuela then everyone can happily send an amount to their group account fund, it is also risky to send money or Bitcoin to an individual account.