Topic: This is how 0.037 Bitcoins looks like in Venezuela - page 9. (Read 31697 times)
What form of economy does Venezuela claim: capitalist, communist, or mixed? As long as we're setting up business models here, we might as well define the economy in which we're working. Right? Piles of fiat don't really equate to much without a prerequisite understanding of how it's leveraged, in my bitty mind.
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.
Why would I pay twice the salary ?
You could say upfront you'll pay in bitcoins and people would still go work for you because some of them don't have a job and getting bitcoins (whatever they are handy or not) is better than getting nothing.
You could say upfront you'll pay in bitcoins and people would still go work for you because some of them don't have a job and getting bitcoins (whatever they are handy or not) is better than getting nothing.
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.
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.
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.
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.
Is it a safe place? Living seems to be cheap
No, sir. Economic collapse and safety aren't natural bedfellows.
https://en.wikipedia.org/wiki/Crime_in_Venezuela
I guess like everywhere though it's down to the company you keep and the areas you stay out of.
If satoshi nakamoto wanted to cash out in venezuelan money, venezuela would run out of printing paper because they would never be able translate satoshi's bitcoins into physical paper money, the poor bastards.
Fiat paper money will be seen as a joke in 10 years, watch and see.
Fiat paper money will be seen as a joke in 10 years, watch and see.
In the Weimar Republic (Germany) when the big hyperinflation of 1929-1934 happened, they ran out of paper, and they started to print the new money on clothes, wool, and even wood.
Nowadays as more people use bank accounts, they dont need to print all the money out, they just type it in electronically.
Venezuela has some of the most beautiful woman in the world too (How many times has a Venezuelian woman been in the top 10 of Misses Universe?)...low prices, beautiful woman, jungles full of coca....k....got my vote!
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.
With a such rate (even the higer is still cheap), starting a company there is really a good idea.
Would like really to see and make a tour in Venezuela, with 100$ i could live good in a month or?
http://www.dailymail.co.uk/travel/travel_news/article-3110918/Paradise-20-hardy-tourists-enjoy-Venezuela-cash-bonanza.html
Looks like there's some crazy cheap living available. I dunno how much fun it would be there but you can save to travel somewhere nicer.
Thanks for the link, I read the article and I was stunned by the prices, however Venezuela is not the safest country, so if I had a choice of going to a Latin-American country that is cheap, I will probably go to Argentina.
If satoshi nakamoto wanted to cash out in venezuelan money, venezuela would run out of printing paper because they would never be able translate satoshi's bitcoins into physical paper money, the poor bastards.
Fiat paper money will be seen as a joke in 10 years, watch and see.
Fiat paper money will be seen as a joke in 10 years, watch and see.
So they literally printed 4 times the money country HELD ? and that too just in 1 year of time ?
yes after seeing this ,"kill the power ,use bitcoin" ...lol
yes after seeing this ,"kill the power ,use bitcoin" ...lol
Would like really to see and make a tour in Venezuela, with 100$ i could live good in a month or?
http://www.dailymail.co.uk/travel/travel_news/article-3110918/Paradise-20-hardy-tourists-enjoy-Venezuela-cash-bonanza.html
Looks like there's some crazy cheap living available. I dunno how much fun it would be there but you can save to travel somewhere nicer.
Wow, thanks for the link, see what environment has Venezuela.
'We're in paradise for $20!' shouted one, before ducking under the water.
Really like the mountains, the beach... is it a safe place? Living seems to be cheap
Would like really to see and make a tour in Venezuela, with 100$ i could live good in a month or?
http://www.dailymail.co.uk/travel/travel_news/article-3110918/Paradise-20-hardy-tourists-enjoy-Venezuela-cash-bonanza.html
Looks like there's some crazy cheap living available. I dunno how much fun it would be there but you can save to travel somewhere nicer.
is there anything they are doing to fix this hyperinflation. i have no idea how they're going to get out of this mess.
fiat form itself is a no option kinda situation for hyperinflation.
its why you see countries like japan are in the same route. Heck we are all in it as long the paper keeps printing.
what does japan have to deal with hyperinflation?
last time I checked the only reason why they are probably in that mess is because they dont rely on anyone period lol.
My spider sense is telling me that Japan has to get some wheelbarrows soon, because the YEN is going HYPER!!!!
http://www.nationaldebtclocks.org/debtclock/japan
Ironically that is how Bitcoinwisdom.com will look like once all the doubters jump in at once when they realize every second not invested in Bitcoin is suicidal. Im going to have a lot of fun seeing all those idiots critisizing Bitcoin now cry specially after such a looong period to store a lot of sub 300 USD Bitcoin at such a stable rate. People don't want to take any risks and get rewards then complain they always miss the boat.
Is that true? 20$ monthly salary?
The standard of life to live there seems the lowest that i heard.
Would like really to see and make a tour in Venezuela, with 100$ i could live good in a month or?
The standard of life to live there seems the lowest that i heard.
Would like really to see and make a tour in Venezuela, with 100$ i could live good in a month or?
Doesn't the cost of printing that amount of paper exceeds its market value ? 
Right now, they are printing only the two highest denomination banknotes (100 Bolivar and 50 Bolivar). But the real issue is that the Venezuelan government is trying to ignore and hide the Bolivar devaluation. The official exchange rate remains at 6.35 Bolivar to one US Dollar, while the black market rate is something like 800 Bolivar to one US Dollar. The Venezuelan government claims that their official exchange rates are the correct ones.
I wonder how strict Venezuelan Customs is re foreigners taking valuable things out?
There seem to be impressive and compelling economic incentives to take advantage of such a huge discrepancy between the official rate of 6.35 Bolivares and 800 (or even 100) to the US$.
* * *
I briefly explored a possibility of exporting automotive spare parts to Venezuela (via small business). The biggest snag is that we could not find anything of value to get from Venezuela.
The second biggest snag is that to get anything done there involves LOTS of corruption and the need to have ties to the Venezuelan TPTB...
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