It is not happy news, as governments seek to obtain funds in any way that they accept payment in bitcoin or local currencies in gold or silver or their equivalent value if they want to get the money and they can describe it as a fraud or a ponzi project if they cannot impose the appropriate legislation.
Venezuelans can exchange bitcoin for local currencies and buy whatever they want.
they can give it to them or hodl it for longer time.
Topic: Venezuelan can now renew their Passport with Bitcoin as payment. (Read 810 times)
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I think it is a big achievement for Bitcoin. The Venezuelan government has approved Bitcoin for their government work. I think they realize the golden future of BTC. We are now living in an ocean of technology and it's increasing day by day. If we want to keep pace with technology, we need an alternative of fiat money and that is cryptocurrency or BTC. The demand of Bitcoin is growing worldwide continuously. That's why many governments are conscious about its future and popularity. many countries already legalize it and I think within 5 to 10 years all the government will legalize it and bitcoin will be the better alternative to fiat money.
what do you think?
what do you think?
This is really cool, some countries are banning crypto but some are adopting it like this one, Digital payments really does a big help in this situation, we have pandemic now and it helps not to engage personally and avoid contact with other people. Issuing passport in manage by the government so this means government is accepting crypto? which benefits us all, I hope this news is not over hype or fake.
The Venezuelan government however wants to obtain liquidity, dollars, euros, bitcoin, everything that represents money for them is welcome, now more with the blockade that exists on the part of the USA, now they have stronger problems with the gasoline they import where ships Iranians are blocked.
On the part of wanting to implement payments through Bitcoin is the ideal solution, because they can change it to any foreign currency other than the Bolivars, where they criticize the dollar for being a capitalist economy but they want them.
Through Bitcoin they can benefit, in fact they tried through the failed petro, it is contradictory that now a government loves the benefits of Bitcoin, but in Venezuela the economy is uncontrolled and any economic folly in any country, in Venezuela is normal.
On the part of wanting to implement payments through Bitcoin is the ideal solution, because they can change it to any foreign currency other than the Bolivars, where they criticize the dollar for being a capitalist economy but they want them.
Through Bitcoin they can benefit, in fact they tried through the failed petro, it is contradictory that now a government loves the benefits of Bitcoin, but in Venezuela the economy is uncontrolled and any economic folly in any country, in Venezuela is normal.
We need to understand that they are not doing it because of the love for Bitcoin. They are running short of money and as a result the regime would accept funds in any format, from any source. A few months back, they tried to sell their gold reserves. But it was not much successful, because the Venezuelan gold reserves are located in England. The British government refused to hand over the gold. Also, there are rumors that Maduro and his proxies are smuggling cocaine to Central America (Belize especially, from where the contraband will be transported to the United States). They looks really desperate.
They were still experimenting now on what will suit their country best as it's been long that their currency seems worthless due to inflation. They been trying harder to survive whether adapting crypto can help them as having their own crypto currency before were not successful. Accepting Bitcoin as their payment may not not help their economy but atleast will ease the problem for their people to have a system to buy and pay their bills properly. 
They killed own currency and now crypto is the only one they have
Their own currency which is the Venezuelan Bolivar got highly inflated due to their economic status. The hyperinflation made their money worthless. People are surviving still despite the situation. They even had their own crypto before which was called 'Petro' but it didn't do any good.
another day, another adoption.
of course, this kind of development is always welcome. it would attract their citizens who are noncrypto users to look at this option and maybe learn about crypto along the process. we need more of this kind of service. also it means their government is fully trusting bitcoin. if some of their constituents are still in doubt about crypto, they may change their stance on how they perceive it.
of course, this kind of development is always welcome. it would attract their citizens who are noncrypto users to look at this option and maybe learn about crypto along the process. we need more of this kind of service. also it means their government is fully trusting bitcoin. if some of their constituents are still in doubt about crypto, they may change their stance on how they perceive it.
THIS IS WHAT WE NEED RIGHT NOW! Although we are experiencing pandemic, we are still working for more bitcoin adoption.
Due to the convenience and effectiveness of bitcoin as a non-contact payment tool, it is really guaranteed for most of the transactions that we are going to do. This is a good idea as people are really having a hard time to pay their bills or to process their papers due to this quarantine. As passports are regulated by the authority, most probably, the Venezuelan government understands how important bitcoin is in the economy. Imagine, they put it into their payment option so that people will lessen their hassle, plus it increases the mass adoption of this cryptocurrency.
We need to understand that they are not doing it because of the love for Bitcoin. They are running short of money and as a result the regime would accept funds in any format, from any source. A few months back, they tried to sell their gold reserves. But it was not much successful, because the Venezuelan gold reserves are located in England. The British government refused to hand over the gold. Also, there are rumors that Maduro and his proxies are smuggling cocaine to Central America (Belize especially, from where the contraband will be transported to the United States). They looks really desperate.
The positive and negative impacts of adopting bitcoin for payment of passport and other renewals will remain. Like the negative impact you mentioned about passport fraud which will be much easier if payment uses Bitcoin. Just like money laundering. Adoption is carried out indeed needs to be analyzed again and in the proper regulation so that it does not have negative adverse effects.
I do not understand this passport fraud situation, you are providing all your details while applying for your passport including your national identification details and all you do is make the payment using bitcoin if they are accepting that option and where does the fraud happens, if it happens in the payment then they are not going to get the passport and if they provide fake document then too they are not going to get the passport and may be jail time along with, so where does the fraud happens if they accept bitcoin as payment 
. Why are most of the post out here assuming that the government of Venezuela accepts Bitcoin because it is related to crypto adoption? Remember that Venezuela has a issue about hyperinflation and ever since then they have started accepting other fiat currencies in their country as a legal tender like the US and also Euro so there is no surprise that they will be also accepting Bitcoin as a payment because literally you need to bring stacks of Bolivar just for you to buy grocery so this really isn't ideal for them, they either use debit cards or other currencies as means of payment. The bottomline is this isn't about adoption but their alternative solution as a payment due to hyperinflation.
I think the adoption of bitcoin in Venezuela is due to TINA (there is no alternative). As a result of a total economic embargo from the US to Venezuela. Become a solution because of the lack of alternative cross-border payments except using the swift system. Maduro also admitted that Venezuela needed dollars to maintain economic stability.
Whatever exact reason it is it is not about what others have previously said about the Venezuelan government trying to adopt cryptocurrency but it is more about them having a solution for their economical crisis. A lot of members failed to see what the current situation of Venezuela is that the value of their own fiat currency is so low that they can't even carry it anymore to buy grocery from that's why digital payments like Bitcoin has been made possible because of it.
~snip~ so Passport fraud will be much easier if you pay with Bitcoin and if you not doing this through a payment processor.
~snip~
The positive and negative impacts of adopting bitcoin for payment of passport and other renewals will remain. Like the negative impact you mentioned about passport fraud which will be much easier if payment uses Bitcoin. Just like money laundering. Adoption is carried out indeed needs to be analyzed again and in the proper regulation so that it does not have negative adverse effects. ~snip~
Ahh.. it's always so refreshing hearing news like this one despite all the bad things happening both in the real world and in this industry. I just wish though that this is truly a lasting and ascending step for this industry and not just something temporary because I have seen good news such as this that either turns out to be fake or doesn't improve or gets terminated in a way. It's just sad. But still though, progress is progress. Wish these kind of news also gets to happen here in my country.
I think the Venezuelan government is just too happy to accept any alternative currency that can hold it's value. The local currency are even more volatile than Bitcoin and if you do this through payment processors, then the volatility will not be an issue.
This article --> https://fintechranking.com/2020/06/26/btc-payments-disabled-for-passports-in-venezuela/ says to me that they reconsidered their acceptance or it ran into trouble. Bitcoin is pseudo-anonymous, so Passport fraud will be much easier if you pay with Bitcoin and if you not doing this through a payment processor.
I think they did not consider the volatility and the conversion took too long to convert it back to Fiat, so they lost income. (Lots of new merchants made this same mistake)
This article --> https://fintechranking.com/2020/06/26/btc-payments-disabled-for-passports-in-venezuela/ says to me that they reconsidered their acceptance or it ran into trouble. Bitcoin is pseudo-anonymous, so Passport fraud will be much easier if you pay with Bitcoin and if you not doing this through a payment processor.
I think they did not consider the volatility and the conversion took too long to convert it back to Fiat, so they lost income. (Lots of new merchants made this same mistake)
Why are most of the post out here assuming that the government of Venezuela accepts Bitcoin because it is related to crypto adoption? Remember that Venezuela has a issue about hyperinflation and ever since then they have started accepting other fiat currencies in their country as a legal tender like the US and also Euro so there is no surprise that they will be also accepting Bitcoin as a payment because literally you need to bring stacks of Bolivar just for you to buy grocery so this really isn't ideal for them, they either use debit cards or other currencies as means of payment. The bottomline is this isn't about adoption but their alternative solution as a payment due to hyperinflation.
I think the adoption of bitcoin in Venezuela is due to TINA (there is no alternative). As a result of a total economic embargo from the US to Venezuela. Become a solution because of the lack of alternative cross-border payments except using the swift system. Maduro also admitted that Venezuela needed dollars to maintain economic stability.
Despite all the cheers, so far, this is not true at all. Saime at this point in time is NOT accepting bitcoin. So stop congratulating my country's gov until they actually deliver. You CANNOT as of yet that we know, pay Saime with bitcoin. I wish i could, it would save me the stupid ritual of exchanging into fiat first, but no.
So the miracle lasted a few hours
I was a bit suspicious since SAIME posted this on their Instagram account just a few days ago
https://www.instagram.com/p/CB1ZIMcH635/
I saw petro, probably some banking apps but no BTC
Maybe they were testing how crypto payments would work and since they don't have a payment gateway for petro they tried to see how it works with bitcoin?
A bit far-fetched but this is the only scenario I consider remotely possible.
but I would like to see statistics on how many people from Venezuela are going to pay their passports with bitcoin
Well, according to what artemis3 says, and he is from Venezuela, I can make a pretty good guess..0!
Why are most of the post out here assuming that the government of Venezuela accepts Bitcoin because it is related to crypto adoption? Remember that Venezuela has a issue about hyperinflation and ever since then they have started accepting other fiat currencies in their country as a legal tender like the US and also Euro so there is no surprise that they will be also accepting Bitcoin as a payment because literally you need to bring stacks of Bolivar just for you to buy grocery so this really isn't ideal for them, they either use debit cards or other currencies as means of payment. The bottomline is this isn't about adoption but their alternative solution as a payment due to hyperinflation.
First, guy posts old news. Like, really old. Then people here mainly say wow what a good thing, when the most recent news actually says the payment's been disabled.
But here's what really happened: at some point govt adds Bitcoin as an option for payment. And then at some other more recent point, that option was disabled. Wasn't removed, just disabled.
Neither event was announced, so it's just like a news story that says: Profile lookup disabled on forum. Panic ensues.
I wonder why they stopped though? It seems to me that they either struggle to process the payment due to the high volatility of prices or they can't handle the miners fee alone when Bitcoin price is growing. I think they are working something to get it back as soon as possible so that the people who uses Bitcoin can enjoy the privilege of transaction straight from their wallet address.But here's what really happened: at some point govt adds Bitcoin as an option for payment. And then at some other more recent point, that option was disabled. Wasn't removed, just disabled.
Neither event was announced, so it's just like a news story that says: Profile lookup disabled on forum. Panic ensues.
I remember Valve stopped accepting Bitcoin on Steam back then when they can't handle the miners fee that keeps on growing each day since Bitcoin that time was too bullish and it's high fluctuation rate. This may be the reason too that's why Venezuelan stop accepting Bitcoin to renew some passport.
I am asking myself the following:
If a person in venezuela has bitcoin, that person will think about doing Hold to get more profit because with crisis that exists in venezuela the best thing that people should do is some business that makes them profit and if bitcoin can give them profit with trade and hodl why would they stop making hodl to pay for a passport that they can pay with their country's Fiat?
I really think it's a good initiative from the Venezuelan government, but I would like to see statistics on how many people from Venezuela are going to pay their passports with bitcoin
If a person in venezuela has bitcoin, that person will think about doing Hold to get more profit because with crisis that exists in venezuela the best thing that people should do is some business that makes them profit and if bitcoin can give them profit with trade and hodl why would they stop making hodl to pay for a passport that they can pay with their country's Fiat?
I really think it's a good initiative from the Venezuelan government, but I would like to see statistics on how many people from Venezuela are going to pay their passports with bitcoin
Venezuelan citizens who are abroad can reportedly use Bitcoin to pay for passport services.
According to BTC transaction images posted on Twitter by Ronny Martinez, an engineer who hosts an academic YouTube channel, the Venezuelan government is allowing Bitcoin as a payment option for passport renewals and extensions via its online immigration platform SAIME (Administrative Service for Identification, Migration and Foreigners).
Source
According to BTC transaction images posted on Twitter by Ronny Martinez, an engineer who hosts an academic YouTube channel, the Venezuelan government is allowing Bitcoin as a payment option for passport renewals and extensions via its online immigration platform SAIME (Administrative Service for Identification, Migration and Foreigners).
Source
This is really a good news for the entire crypto community. with each day passing, we see more and more of crypto adoptions and now it is onto another level as the government of Venezuela just adopt the use of bitcoin for the renewal of Venezuela password. I'm sure it won't take much time before other governments across the globe follow suite with the adoption of bitcoin for payment of transactions
Venezuelan economic condition is in a pretty bad state. Their own fiat currency does not have any value and that is why they are trying alternate options. I doubt they will be accepting Bitcoin when they are promoting their own cryptocurrency.
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