I think that in countries that money devaluation can be big and fast, bitcoin is good for savings, if you deposite your money in a bank, your money is loosing value, if you buy one bitcoin could be that when you need to redem to your local coin you have doubled your money.
Topic: This is how 0.037 Bitcoins looks like in Venezuela - page 8. (Read 31697 times)
Well, the price has gone up since that picture got taken, so now it would take even a whole lot more of papers stacked up in horizontal position to fit the equivalent in Bitcoin within a picture 
And wait until we are 1K+ again, then it will be pretty funny to see the equivalents in paper.
And wait until we are 1K+ again, then it will be pretty funny to see the equivalents in paper.
If Venezuela's government or central bank can't solve this problem, i'm sure people will move their assets to dollars, gold, bitcoin or other else.
Maybe what happened to cyprus could happen to venezuela this time, and media will stop bitcoin as something good again.
Maybe what happened to cyprus could happen to venezuela this time, and media will stop bitcoin as something good again.
If the electricity price is really cheap... what about mining?
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the inflation was really insane , thought it will becoming like zimbabwe ,its very annoying to bring 5kg of money just to buy an egg
But you still have to spend the same ratio as the amount's worth...you can't just convert into their currency, come back, and be rich 
Absolutely.When their currency has been devalued so much,prices are bound to go highGoddammit. There go my get rich quick plans.
You can still buy a truckload of it, pray that they stop printing, and one day that truckload of money will be worth billions of $$.
Venezuela might discover cure for cancer, gold synthetization machine, or nano assembly lines that might boost the GDP enormously and make it the richest country on earth.
But if not then you just wasted your money
well geting to zinbabwe its a bit more even like trillions of their currency thats why we all use dollar there but 12 dollars a month i imagine a house to buy there must be like 3000$ a good apartment.
Not Really. if you seek in http://www.tuinmueble.com.ve/ and use https://dolartoday.com/ exchange rate, in no time you will find out that apartments prices in Venezuela are adjusted just as fast as the rate of inflation. Crazy right?.
Turns out that every smart company with Venezuelan FIAT over here would end up buying real state assets to protect their wealth from inflation.
well geting to zinbabwe its a bit more even like trillions of their currency thats why we all use dollar there but 12 dollars a month i imagine a house to buy there must be like 3000$ a good apartment.
This is the story of a guy that lived one month in my country (Venezuela) with 100€.
http://www.vice.com/es_mx/read/chicas-drogas-y-autos-vivi-un-mes-como-rey-en-venezuela-con-solo-un-billete-100-euros?utm_source=vicetwittermx
It's written in Spanish but try to translate it with Google.
I can say that I'm happy to be a bitcoin miner over here
.
From the pictures he doesn't look to happy. http://www.vice.com/es_mx/read/chicas-drogas-y-autos-vivi-un-mes-como-rey-en-venezuela-con-solo-un-billete-100-euros?utm_source=vicetwittermx
It's written in Spanish but try to translate it with Google.
I can say that I'm happy to be a bitcoin miner over here
. 
Looks like he either works in a bottle depot or he has to return his bottles to make some money on the side to be able to fly back home
He bought all those beers (238 Total) for just 10 euros. Just to make his point.
This is the story of a guy that lived one month in my country (Venezuela) with 100€.
http://www.vice.com/es_mx/read/chicas-drogas-y-autos-vivi-un-mes-como-rey-en-venezuela-con-solo-un-billete-100-euros?utm_source=vicetwittermx
It's written in Spanish but try to translate it with Google.
I can say that I'm happy to be a bitcoin miner over here .
From the pictures he doesn't look to happy. http://www.vice.com/es_mx/read/chicas-drogas-y-autos-vivi-un-mes-como-rey-en-venezuela-con-solo-un-billete-100-euros?utm_source=vicetwittermx
It's written in Spanish but try to translate it with Google.
I can say that I'm happy to be a bitcoin miner over here
. Looks like he either works in a bottle depot or he has to return his bottles to make some money on the side to be able to fly back home
This is the story of a guy that lived one month in my country (Venezuela) with 100€.
http://www.vice.com/es_mx/read/chicas-drogas-y-autos-vivi-un-mes-como-rey-en-venezuela-con-solo-un-billete-100-euros?utm_source=vicetwittermx
It's written in Spanish but try to translate it with Google.
I can say that I'm happy to be a bitcoin miner over here .
http://www.vice.com/es_mx/read/chicas-drogas-y-autos-vivi-un-mes-como-rey-en-venezuela-con-solo-un-billete-100-euros?utm_source=vicetwittermx
It's written in Spanish but try to translate it with Google.
I can say that I'm happy to be a bitcoin miner over here
. 
With a such rate (even the higer is still cheap), starting a company there is really a good idea.
Why? They don't really have anything of value to give you in exchange for your goods or services. And it would be crazy to keep any assets in their currency.
Workers seems to be cheap comparing to other countries. Plus in case of something like Bitcoin your money come from the rest of the world.
Unless some other form of currency takes over the hyperinflating one there, it wouldn't be smart to do any business there.
I wouldn't think many people there are able to spend much time researching into bitcoins when they're struggling to survive with their dead economy there.
No the plan is : your fund your company there. You build a factory that produces something, let's say spoons. They manufacture it. Then you sell it in country where you make a profit and then you pay your workers 2x the average salary. In the country where you sell it it's nothing, so you still make a profit.
Well the problem with that plan, is that the Venezuelan government can take everything away from you, and not pay you a dime. That’s why foreign investment is very low in Venezuela.
Venezuela seems to have a very high corruption, so if someone doesn't want you to settle, with a couple of bucks, he can make the government seize everything you have. In fact that's a big problem. So I now I think it's a bad idea.
Don’t worry, it happens the same to me all the time, I have an idea and I think it’s the greatest thing since sliced bread and then I realize it’s not, so there’s no problem.
But you still have to spend the same ratio as the amount's worth...you can't just convert into their currency, come back, and be rich
Absolutely.When their currency has been devalued so much,prices are bound to go highGoddammit. There go my get rich quick plans.
But you still have to spend the same ratio as the amount's worth...you can't just convert into their currency, come back, and be rich
Absolutely.When their currency has been devalued so much,prices are bound to go high
wow they really should adopt this as soon as possible i dont want to pay 1000notes for buying 1chocolate from there
They still can buy gold or silver.
Problem with high inflation is that you just need to spend your salary fast or convert it. Since if you wait only few days you get half less for it.
It is actually good fro country economy, since people buy even stupid things they dont need just to spend their money.
It is actually good fro country economy, since people buy even stupid things they dont need just to spend their money.
What can buy with that much money. I mean 0.37 changed to Venezuela money.. and become that much. Alot thing can buy from it?
No you dont understand it has the same value, but the quantity differs.
Its like saying which one is heavier 1 kg of iron or 1 kg of paper? Its the same.
But since the venezuelan currency is hyperinflated, you need wheelbarrows to carry as much as 0.037 btc worth, which you can carry on a phone in BTC.
So the lesson is: ditch fiat, and use only bitcoin
What can buy with that much money. I mean 0.37 changed to Venezuela money.. and become that much. Alot thing can buy from it?
With a such rate (even the higer is still cheap), starting a company there is really a good idea.
Why? They don't really have anything of value to give you in exchange for your goods or services. And it would be crazy to keep any assets in their currency.
Workers seems to be cheap comparing to other countries. Plus in case of something like Bitcoin your money come from the rest of the world.
Unless some other form of currency takes over the hyperinflating one there, it wouldn't be smart to do any business there.
I wouldn't think many people there are able to spend much time researching into bitcoins when they're struggling to survive with their dead economy there.
No the plan is : your fund your company there. You build a factory that produces something, let's say spoons. They manufacture it. Then you sell it in country where you make a profit and then you pay your workers 2x the average salary. In the country where you sell it it's nothing, so you still make a profit.
Well the problem with that plan, is that the Venezuelan government can take everything away from you, and not pay you a dime. That’s why foreign investment is very low in Venezuela.
Venezuela seems to have a very high corruption, so if someone doesn't want you to settle, with a couple of bucks, he can make the government seize everything you have. In fact that's a big problem. So I now I think it's a bad idea.
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