I am not following what is going on in Venezuela, but I wonder how the economically depressed state can depend on Bitcoin, the price is high and the fluctuations are significant.
Also, I do not expect anyone who is bankrupt to buy Bitcoin with these fluctuations.
If a country wants to get rid of excessive digestion, then increased productivity is the solution. Bitcoin may help, but it is not the right solution.
I have read the comments, but I have not come up with valid words.
Topic: the life of the society venezuela depends on crypto - page 2. (Read 507 times)
If Venezuelan people cannot trust their own currency due to rapid inflation and government corruption then they will move to cryptocurrencies. Recently, they have started 'Petro' their own cryptocurrency backed by gas and oil.
Its a great way for a economy like Venezuela, to keep money and earn something it times of high inflation and downturn.
we know that Venezuela has a political crisis and economic crisis, the Venezuela government is seriously adopting bitcoin well. regulate, process, and develop crypto. so that the crypto world became a protector of the hyperinflation that hit the national currency Venezuela.
devaluation of the national currency that rapidly, even a piece of bread for a week's life has an expensive value. the level of people's differentiation in Venezuela is still high.
and then the crypto world has an important role there, hyperinflation makes people protect the value of their currency by converting into foreign money, items, and crypto. while many countries see that bitcoin is only a speculative asset because of its commodities.
but in Venezuela bitcoin already has the main function of currency that is decentralized and not controlled by the government, so the belief of the people of Venezuela against bitcoin is higher than the national currency.
devaluation of the national currency that rapidly, even a piece of bread for a week's life has an expensive value. the level of people's differentiation in Venezuela is still high.
and then the crypto world has an important role there, hyperinflation makes people protect the value of their currency by converting into foreign money, items, and crypto. while many countries see that bitcoin is only a speculative asset because of its commodities.
but in Venezuela bitcoin already has the main function of currency that is decentralized and not controlled by the government, so the belief of the people of Venezuela against bitcoin is higher than the national currency.
Actualy this happen now into the country of venezuela,reminds us of what is the importance of cryptocurrency now as being part of economic progress,actualy,venezuela is not much belong in the thirds world country,but they depends more in cryptocurrency investment,therefore its needed that the government there,is implemeting a legalization, to regulate in order to control all crypto works especially to those who makes money laundering and illegal activities.
This is the advantage of the digital currency. Bitcoin as well as the market of crypto currency becomes popular due to such benefits over the fiat money. This is also great news for the bitcoin as well as the market of crypto that government of Venezuela is in favor of crypto.
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I guess you can easily hide cryptocurrencies compare to gold or other assets. gold also is just a storage medium while bitcoin can function as a currency and storage medium. while keeping gold can easily rob by criminals. with the current inflation rate of Venezuela and money depreciation, the obvious choice is to find new currency and bitcoin is actually design to combat hyperinflation. also, some other assets to store wealth is hard to buy for ordinary Venezuelan, cryptocurrency is easily available.
The Venezuelan economy is currently under the pressure of inflation.The Venezuelan money has no value for purchasing things.The oil rich Venezuelan economy has collapsed drastically down due the miss management of the ruling government and the common people of the country are suffering too much due to the inflation and now the people are depends on the bitcoin or the crypto currencies to purchase their food and necessary commodities since the the crypto currency or the bitcoin will not effect the inflation.
Definitely that serves as an answer to those who question about bitcoin to be used as a currency.Good luck to Venezuelan people.Even though,you suffer now from crisis,atleast you are able to get rid of the bloody fiat currency.
That story is mentioned in the thread I've shared in my reply.
There were plans of sending millions of Bitcoins to Venezuelans, I have to idea what the progress on that is.
It's good to see that there are bitcoin-related initiatives though.
Sorry, I haven't read your last reply enough to not see that article is the same as the one in your reply. I'll just edit my last reply and remove that link. Anyways, it's nice to hear that there were plans at least to help Venezuelans using bitcoin, I have read the medium article that you have linked and noticed that it was made way back February 16, 2018 are there no updates regarding it?There were plans of sending millions of Bitcoins to Venezuelans, I have to idea what the progress on that is.
It's good to see that there are bitcoin-related initiatives though.
Probably their government was still reviewing the possible impact of cryptocurrency to the people, because most of business platforms were used to crimes like fraud. In order to have a brief security over the current plans, I guess that's good to wait for the furthermore plans and updates from their government and yet this will provide their people profitable benefits when implementation takes place.
That story is mentioned in the thread I've shared in my reply.
There were plans of sending millions of Bitcoins to Venezuelans, I have to idea what the progress on that is.
It's good to see that there are bitcoin-related initiatives though.
Sorry, I haven't read your last reply enough to not see that article is the same as the one in your reply. I'll just edit my last reply and remove that link. Anyways, it's nice to hear that there were plans at least to help Venezuelans using bitcoin, I have read the medium article that you have linked and noticed that it was made way back February 16, 2018 are there no updates regarding it? There were plans of sending millions of Bitcoins to Venezuelans, I have to idea what the progress on that is.
It's good to see that there are bitcoin-related initiatives though.
thank you for your comments, so, I think. should we wait for the global crisis to make bitcoin and crypto become a very important currency like in Venezuela?
if the global crisis happens, I think warren buffets, bill gates, and everyone who hates crypto will take crypto as a solution to save their assets.
Venezuela is country example for bitcoin users that people at there has been attempts to solved their crisis with make crypto as their temporary currency because their main currency is not valuable anymore and called bitcoin as the saviour also deserve but people should be considering and change their mind about crypto but not against crypto and not have to wait to crisis happened to admit crypto is good for us if the global crisis happens, I think warren buffets, bill gates, and everyone who hates crypto will take crypto as a solution to save their assets.
thank you for your comments, so, I think. should we wait for the global crisis to make bitcoin and crypto become a very important currency like in Venezuela?
if the global crisis happens, I think warren buffets, bill gates, and everyone who hates crypto will take crypto as a solution to save their assets.
if the global crisis happens, I think warren buffets, bill gates, and everyone who hates crypto will take crypto as a solution to save their assets.
Yes, I have heard about that. And I think this is completely ok because the other world can see their experience and follow the decisions that they have made, in order to change their minds.
It's actually nice to see that crypto can do something important to help the economy crisis in venezuela.
And i'm happy too that the government believe and use cryptocurrency to control the hyperinflation. It will be great for crypto world as well though, many people in venezuela will choose to convert their money into other assets like bitcoin, since their currency value is low now. We can gain more bitcoin user and may give a great and positive effect to the market.
And i'm happy too that the government believe and use cryptocurrency to control the hyperinflation. It will be great for crypto world as well though, many people in venezuela will choose to convert their money into other assets like bitcoin, since their currency value is low now. We can gain more bitcoin user and may give a great and positive effect to the market.
This is very helpful in the economic crisis that has been controlled by the government, can not get into Bitcoin access then they will be very safe to avoid government greed, it all the way they do to me already understand the development of cryptocurrency in Venezuela, many risks that occur in Bitcoin but hopefully can handle it.
i don't think this is quite correct to be honest.
what i know about Venezuelans and bitcoin is that it started as hyping up the government-created cryptocurrency called Petro. their government wanted it to become successful so they started hyping it up. in this process they also started teaching people about the technology and unintentionally they taught them about bitcoin and its decentralization.
obviously people became interested in bitcoin (maybe even more interested in bitcoin rather than Petro) so they started buying bitcoin.
i wouldn't say their life depends on it, and i seriously doubt they are using bitcoin to escape hyperinflation. but they certainly are very interested in bitcoin.
what i know about Venezuelans and bitcoin is that it started as hyping up the government-created cryptocurrency called Petro. their government wanted it to become successful so they started hyping it up. in this process they also started teaching people about the technology and unintentionally they taught them about bitcoin and its decentralization.
obviously people became interested in bitcoin (maybe even more interested in bitcoin rather than Petro) so they started buying bitcoin.
i wouldn't say their life depends on it, and i seriously doubt they are using bitcoin to escape hyperinflation. but they certainly are very interested in bitcoin.
Yes, but people in Venezuela should consider well too, because here nobody is responsible for the use of bitcoin, so if people suffer huge losses due to bitcoin, then they can not hold the responsibility to the government.
very interesting but I still can not believe that people would choose cryptocurrencies to protect themselves from hyperinflation. generally speaking in cases of hyperinflation and when your country's currency is being devalued you want to store your wealth in something that is more stable than a cryptocurrency which happens to be super volatile and can go up and down at any moment.
Gold and silver or not practical options either .It very hard to hide gold and silver form a the venezuela goverment .They more then likely seize it if they know u had it .It way easier to hide crptocurrency .
I think there's a lot of room for crypto-currencies in a country like venezuela where inflation is high.
Because people no longer believe in fiat money, then this time is the role of cryptocurrency.
Because people no longer believe in fiat money, then this time is the role of cryptocurrency.
In a country like Venezuela with so much government corruption cryptocurrency shows a great promise for the people who have grown tired of government manipulation.
we know that Venezuela has a political crisis and economic crisis, the Venezuela government is seriously adopting bitcoin well. regulate, process, and develop crypto. so that the crypto world became a protector of the hyperinflation that hit the national currency Venezuela.
devaluation of the national currency that rapidly, even a piece of bread for a week's life has an expensive value. the level of people's differentiation in Venezuela is still high.
and then the crypto world has an important role there, hyperinflation makes people protect the value of their currency by converting into foreign money, items, and crypto. while many countries see that bitcoin is only a speculative asset because of its commodities.
but in Venezuela bitcoin already has the main function of currency that is decentralized and not controlled by the government, so the belief of the people of Venezuela against bitcoin is higher than the national currency.
Maybe decentralization is good for their situation now. Their crisis will somewhat be minimized by the system. The people of Venezuela really believed in bitcoin since their government cannot control crypto activities. devaluation of the national currency that rapidly, even a piece of bread for a week's life has an expensive value. the level of people's differentiation in Venezuela is still high.
and then the crypto world has an important role there, hyperinflation makes people protect the value of their currency by converting into foreign money, items, and crypto. while many countries see that bitcoin is only a speculative asset because of its commodities.
but in Venezuela bitcoin already has the main function of currency that is decentralized and not controlled by the government, so the belief of the people of Venezuela against bitcoin is higher than the national currency.
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