the life of the society venezuela depends on crypto - page 3.

eternalgloom

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Quote from: hase0278 on July 18, 2018, 06:29:12 AM

Quote from: eternalgloom on July 18, 2018, 06:10:14 AM

Or maybe there are already bitcoin related crowd-funding efforts to help the people in Venezuela? I have no idea, do share if you know some.

There aren't any bitcoin-related crowd-funding efforts to help Venezuelan citizens but as far as I know, there is already one when we would take away bitcoin-related and replace it with crypto-related. This article talking about how a Venezuelan citizen feeds an entire community using crypto donations from Reddit users have been published recently, it is nice to see crypto serving a good use case for them but for now, I am hoping that someday we will see something similar which is related to bitcoin as well.

That story is mentioned in the thread I've shared in my reply Tongue

Better to link to the original Reddit thread, than some news article that might have fluffed up the story a little bit.

After a bit of digging, I've found this:
https://medium.com/@jonathan.wheeler/leveraging-bitcoin-to-solve-venezuelas-hyperinflation-9f60c71d380b (original announcement)
https://www.coindesk.com/plan-send-millions-bitcoin-venezuela-taking-shape/ (shorter news article)

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.

adnandanish102

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Due to these political and economical crises in venezuela,their flat currency is not stable and people's trust on flat currency is dwindling and people of venezuela doing bitcoin transactions and payments and that's why cryptocurrency is a great assest in venezuela.

maskeffec

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I think in venezuela people people no longer believe in paper money, then they believe in the role of cryptocurrency as currency for daily transactions. And there is plenty of room for crypto currencies in countries like Venezuela that are experiencing high inflation.

oppasong

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in venezuela a lot of crypto that developed well there but for now it is the price of crypto again decreased so that many people there pocket money in crypto so there kerisis all who hold crypto with over all limit ...

Docnaster

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Quote from: RNGfight on July 18, 2018, 06:17:52 AM

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.

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.

Pursuer

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Where is my ring of blades...

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.

hase0278

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Quote from: eternalgloom on July 18, 2018, 06:10:14 AM

Or maybe there are already bitcoin related crowd-funding efforts to help the people in Venezuela? I have no idea, do share if you know some.

There aren't any bitcoin-related crowd-funding efforts to help Venezuelan citizens but as far as I know, there is already one when we would take away bitcoin-related and replace it with crypto-related. This article talking about financing villas for the homeless with Petro have been published recently, it is nice to see crypto serving a good use case for them but for now, I am hoping that someday we will see something similar which is related to bitcoin as well.

RNGfight

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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.

eternalgloom

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Yeah, I feel like the Bitcoin community should also do something like this:
https://bitcointalksearch.org/topic/nano-community-is-donating-food-to-venezuelan-citizens-4663099 (Nano community is donating food to Venezuelan citizens)

Or maybe there are already bitcoin related crowd-funding efforts to help the people in Venezuela? I have no idea, do share if you know some.

Dexion

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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.

Topic: the life of the society venezuela depends on crypto - page 3. (Read 528 times)