Topic: This is how 0.037 Bitcoins looks like in Venezuela - page 14. (Read 31697 times)
The government needs to stop wasting the petroleum resources by subsidizing gasoline. Gasoline in Venezuela costs just $0.018 per liter ($1 for 60 liters), while in the United Kingdom, the same costs around $1.80 per liter. Insanely low prices fuels gasoline smuggling (mostly to the neighboring Colombia) and the government should take steps to stop this.
I wonder how many trucks and buildings you would need to fill with those stupid paper bills with if you wanted to see how much satoshi nakamoto's wallet was on venezuela's currency.
I asked a colleague of mine from Venezuela. How is it back home, are the old folks safe? He did not say yes. On the problem of sending money (I don't know the economic situation of his parents, but with borderline hyperinflation a salary can become worthless quickly), he told me he could send money via the bank, it would take a week, there was danger of being robbed (that is what he said, maybe some clerk just confiscating the money for himself), and he would not get the full blue rate (I think he gets the Simadi rate, which is about 1/4 of what he should have got).
I introduced him to localbitcoins, he got an account loaded with some coins. He has a bank account inside the country accessible over the internet, and there are lots of traders in the country, giving a rate slightly worse than the blue rate. After that, he can transfer the bolivars to his relatives' account. After a few days I asked, but he hadn't tried it. He will wait until the a need arises, to avoid some of the inflation. I look forward to hearing of his experience. Anyway I could not wait to write this...
I introduced him to localbitcoins, he got an account loaded with some coins. He has a bank account inside the country accessible over the internet, and there are lots of traders in the country, giving a rate slightly worse than the blue rate. After that, he can transfer the bolivars to his relatives' account. After a few days I asked, but he hadn't tried it. He will wait until the a need arises, to avoid some of the inflation. I look forward to hearing of his experience. Anyway I could not wait to write this...
...
GREECE (more accurately: Greek entrepreneurs) may be pointing the way to show how people can cope with an unstable and/or dictatorial monetary system with capital controls:
http://techcrunch.com/2015/08/14/bitcoin-provider-cubits-aims-to-help-greeks-move-their-money/?ncid=rss
The most interesting thing about the article (for me) is how they may use BTC to pay for imports from external suppliers.
Venezuela has an additional complication though: tighter controls on imports and exports. Still, Venezuelans (there and in Miami) could probably set something similar up rather easily...
GREECE (more accurately: Greek entrepreneurs) may be pointing the way to show how people can cope with an unstable and/or dictatorial monetary system with capital controls:
http://techcrunch.com/2015/08/14/bitcoin-provider-cubits-aims-to-help-greeks-move-their-money/?ncid=rss
The most interesting thing about the article (for me) is how they may use BTC to pay for imports from external suppliers.
Venezuela has an additional complication though: tighter controls on imports and exports. Still, Venezuelans (there and in Miami) could probably set something similar up rather easily...
This is on venezuala central bank needing to print more notes. You will have to google translate it if you do not read spanish:
http://www.eluniversal.com/economia/150814/bcv-busca-papel-moneda-ante-falta-de-billetes-de-50-y-100-bolivares
"For this demanding 100 bills paid up to 140 bolivars low denomination" ... it looks like there is a disconnect between notes of different denominations. I suppose there is a disconnect between notes and debit cards already.
http://www.eluniversal.com/economia/150814/bcv-busca-papel-moneda-ante-falta-de-billetes-de-50-y-100-bolivares
"For this demanding 100 bills paid up to 140 bolivars low denomination" ... it looks like there is a disconnect between notes of different denominations. I suppose there is a disconnect between notes and debit cards already.
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.
Yes they worry more about bitcoin than drugs being sold. If drug dealers start accepting bitcoin then what south American government? Mass hysteria 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.
holy crap.
Then yes, thats one of the few countries will prosper from bitcoin esp. It might even bring business based on them having enough capital to start their own business.
I didnt know it effected by that much though, a half months salary is what I make every week then..
Then yes, thats one of the few countries will prosper from bitcoin esp. It might even bring business based on them having enough capital to start their own business.
I didnt know it effected by that much though, a half months salary is what I make every week then..
How should a country be able to switch to use bitcoin as national currency? The government would have to buy huge amounts of bitcoins to be able to act and doing something. No country on the earth could afford that.
So i don't know how this could be done.
Yes, hyperinflation is a bi**h! Some of my friends are from Serbia and they were talking to me about and showing me the money from Serbia in 1993 when during the civil war a hyperinflation happened there. Those are some horror stories! I have seen bills with 30 zeros. They were telling me that by the time you get your salary and if you don't spend it the same day, the next day it was literally worthless. Government was printing new bills with more and more zeros daily. This is a sad situation for any country in the world.
Wow, I think I'd have to move to Venezuela and just do signature campaigns instead of actually working 
It's pretty cool to see what Bitcoin could do for people in developing countries.
It's pretty cool to see what Bitcoin could do for people in developing countries.
Hmmm. Today I lost the double amount in gambling.
A friend of mine told that he have made a good return over investment on that site but when I deposited on that site and played, first it was good then I started playing big and lost all of it.
A friend of mine told that he have made a good return over investment on that site but when I deposited on that site and played, first it was good then I started playing big and lost all of it.
wow thats good
bitcoin is good for country like venezuela.. in my country 0.037 isn't so worthed..
bitcoin is good for country like venezuela.. in my country 0.037 isn't so worthed..
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.
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.
Also, seeing as every word or number can also be used as a bitcoin address, you will not be allowed to speak or write.
They use USD in the black markets. I doubt they'll start switching en masse to BTC because they need the money to buy living supplies, but I can definitely see the middle/upper classes diversifying.
What the hell? The papers own value is more than those money's value probably. Venezuela's economy is pretty f**ked up nowadays i guess.
They have what they deserve for supporting socialist government... expropriating every succesful company and giving away money as aids would sooner or later end in this.
But yes, bitcoin is the way to go, at least while they get rid of that government... hopefully btc won't be banned while that happen.
But yes, bitcoin is the way to go, at least while they get rid of that government... hopefully btc won't be banned while that happen.
Read this article about an Australian guy backpacking in Venezuela, the article is from april and since then the currency lost 40 % of his value
http://www.news.com.au/travel/travel-advice/i-went-from-broke-to-an-instant-millionaire-here/story-fn6yjihw-1227300495540
http://www.news.com.au/travel/travel-advice/i-went-from-broke-to-an-instant-millionaire-here/story-fn6yjihw-1227300495540
What a great and the same time frightening story. I still don't understand how a country with so much oil and that beautiful nature(tourists etc) can get that broke.
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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
That people are so cheap in such countries
I had the same question the standard third world quality house (Call them the standard house myself as you see them a lot around the world is $25,000)
The modernized houses were used to are roughly x10 or $250,000
http://www.viviun.com/Real_Estate/Venezuela/
$24,000 Obo.
http://www.viviun.com/AD-204588/
Category: Single Family Homes
Address: Calle Guaicaipuro S/N
Urb. Vista Al Mar
Puerto Piritu
Anzoategui 3866
Venezuela
For Sale By: Owner
Construction Year: 1990
Area: 120 m2
Bedrooms: 3
Bathrooms: 2
Sleeps: n/a
Stories: n/a
Parking Spaces: 3
$249,000 Obo.
http://www.viviun.com/AD-205552/
Single Family Homes
Address: La Mira
Margarita Island, Playa El Agua
Nueva Esparta
Venezuela
For Sale By: Owner
Construction Year: 1999
Area: 350 m2
Bedrooms: 4
Bathrooms: 4
Sleeps: 10
Stories: 2
Parking Spaces: 4
Now add a 0 to both and ha-ha you got Westernized World Prices XD
$250,000 for the standard house
2.5 million for that villa
...
Venezuela is in big trouble.
And with the price of gold down so much, not even that it enough to save "Chavismo". With guys like Chavez & Maduro, even gold & oil do not help for long.
Venezuela is in big trouble.
And with the price of gold down so much, not even that it enough to save "Chavismo". With guys like Chavez & Maduro, even gold & oil do not help for long.
This is why Venezuela will be the first country to adopt a virtual currency.
You don't want any country to "adopt" a virtual currency. If a Government adopts bitcoin they will most surely try to enforce their power upon it, which will result in the devaluation that you see in your Venezuelan dollar.
It would be much better for Bitcoin to remain an independent option to fiat currency, allowing you and others to keep assets in it and those that choose not to can let their assets value with the flow of their fiat currency.
It's really interesting to see how much an average 2 weeks of salary looks like in Venezuela, are you also saying that that 2 weeks of salary is the equivalent of 12 USD?
Im saying that Venezuelans should adopt a virtual currency, no matter what the goverment says, in a way of protest against the system that rule them, if they start trading in an altcoin they will be less afected by devaluation and inflation, an example is that in August you earn 20$ and the price of milk is 0.5$ a litre, in september you will earn 19$ and the price of milk will be 0.7$, by december you will earn 17.5$ and the price of milk will be 0.95. this is really happening, and its hapening because the central bank is printing more money to pay his debt, and the inflation is not worst because all the income venezuela gets for trading oil and other minerals.
Yes, minimun wage is like 20 - 24 a month.
15 years ago was like 140$ a month
so many bricks of money man.
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?
Im saying that Venezuelans should adopt a virtual currency, no matter what the goverment says, in a way of protest against the system that rule them, if they start trading in an altcoin they will be less afected by devaluation and inflation, an example is that in August you earn 20$ and the price of milk is 0.5$ a litre, in september you will earn 19$ and the price of milk will be 0.7$, by december you will earn 17.5$ and the price of milk will be 0.95. this is really happening, and its hapening because the central bank is printing more money to pay his debt, and the inflation is not worst because all the income venezuela gets for trading oil and other minerals.
Yes, minimun wage is like 20 - 24 a month.
15 years ago was like 140$ a month
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