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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
I can imagine what the price of coffee can be 
