Venezuelan can now renew their Passport with Bitcoin as payment. - page 4.

witcher_sense

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Quote from: Darker45 on June 24, 2020, 09:31:21 PM

However, I have a little confusion as to this:

Quote

Dear user, you selected payment with cryptocurrencies. Please keep in mind that you will only have 8 minutes to complete the transaction...

Does "complete the transaction" include payment confirmation? If it does, then this might be a concern since Bitcoin confirmation may actually exceed such limit at times.

It depends on the amount you have to pay for passport services. If there is a small amount, than it is okay to accept a payment with 0 confirmations. I am assuming that purchasing power of bolivar is decreasing too fast, that is why users have to pay as quickly as possible. The faster you pay, the more bitcoins they recieve. That is a good option for a service to mitigate risks of hyperinflation, they use bitcoin as a store of value in the first place, definitely not as a means of exchange. We are still far from that status of bitcoin. However, that is a promising sign for bitcoin since some governments have started considering bitcoin at least as an approach to save wealth.

Darker45

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It is amusing how the Bitcoin payment option is offered to clients prior to credit card payment options.

However, I have a little confusion as to this:

Quote

Dear user, you selected payment with cryptocurrencies. Please keep in mind that you will only have 8 minutes to complete the transaction...

Does "complete the transaction" include payment confirmation? If it does, then this might be a concern since Bitcoin confirmation may actually exceed such limit at times.

Anyhow, the hyperinflation still happening in Venezuela really pushes for Bitcoin adoption there.

nicecrypto

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This is really great news because more use of btc means more adoption and more acceptance, this country is very crypto friendly so I believe this initiative will happen, this can also lead to more businesses and organizations accepting btc as well, soon other countries will also want to adopt the use of btc in some of their businesses.

NotATether

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It's good to see Venezuela embracing bitcoin after their disastrous Petro dollar initiative. I hope they learned a thing or two about encouraging citizens to use bitcoin, especially since they have a crumbling economy.

Although the article says it not confirmed whether SAIME will accept bitcoin payments so it's better to hold off the congratulatory remarks until we see a confirmation from their end.

Sadlife

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Venezuela is one of the few examples that Bitcoin can be viable for businesses and can be use for micro and macro transactions that can be regulated by Governments and Country's. The moment the financial markets gets worse with the continous printing of money we might see the current monetary system will be the same as Venezuela or Zimbabwe.

Kelvinid

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Then it is to come the moment especially when contactless transactions are the new normal and most of it is made online transactions, it is a time where people will adopt the system and possible use of Bitcoin. Now that the Venezuelan government leaders are allowing it to use, it soon to be more adaptable into their country and most probably this could help to uplift the demand.

I foresaw a huge demand in crypto particularly for Bitcoin if this pandemic will stay longer. It can be more countries and companies will accept it as they rely into online transactions.

dunfida

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Quote from: AmoreJaz on June 24, 2020, 05:08:49 PM

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.

Its a good news indeed and this thing shows that it is really possible to integrate bitcoin payments into these kind of service which would really ease the hassle.
Adoption is always on the move and we would really see in future years to come for other business,services to consider on making btc as a form of payment.
It might not be on all aspect but it would be nice if majority or big percentage will consider it out. This is a big convenience for all bitcoin users in Venezuela.

AmoreJaz

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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.

posi

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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

Topic: Venezuelan can now renew their Passport with Bitcoin as payment. - page 4. (Read 810 times)