Topic: Venezuela's central bank is holding Cryptocurrency! - page 4. (Read 712 times)
Better to have them holding something worth of value outside of their own countries currency so I cant see the banks there turning down this golden opportunity to get their countries economy out of the shithole it is in right now.
As far as I know, it is not only Venezuela that is holding cryptocurrency at central bank. There are several other countries that have saved bitcoin as its digital assets. they realize that saving or investing in bitcoin is beneficial. venezuela save cryptocurrencies possible as their financial backup. because they intend to replace their paper money to becomes cryptocurrency.
There are several other countries that have saved bitcoin as its digital assets
This draw me attention, which countries are holding BTC that you know for sure, not any speculation?
The only country I know it's Bulgaria
If I had to guess 5 countries holding BTC, I'd say USA, China, Singapore, Australia and Korea. All seem like countries that are interested in controlling or investing in BTC.
If this is true , then it has no impact on the market .
it would make some sense , if there are sanctions in place for their central bank. In this case I Imagine, they have problems buying stable currencies as USD and EUR. Then the logical thing would be to buy some crypto which is better than their local currency.
it would make some sense , if there are sanctions in place for their central bank. In this case I Imagine, they have problems buying stable currencies as USD and EUR. Then the logical thing would be to buy some crypto which is better than their local currency.
We cannot be sure which particular cryptocurrencies the Venezuelan central bank are holding. It could be Bitcoin or some altcoins or stablecoins or perhaps a combination of Bitcoins and altcoins. I guess this will have an impact to the market. Every single buy order will have an impact to the market and if an individual whale could cause a movement in the prices then a central could do it several folds. A central bank will not buy a couple of BTC only or a handful of ETH or a hundred of USDT.
I noticed that in countries that have problems with the economy - they accept Bitcoin very well. Examples are Venezuela and Argentina. People no longer believe in governments and banks, and that’s good for us. I mean cryptocurrency holders.
If this is true , then it has no impact on the market .
it would make some sense , if there are sanctions in place for their central bank. In this case I Imagine, they have problems buying stable currencies as USD and EUR. Then the logical thing would be to buy some crypto which is better than their local currency.
it would make some sense , if there are sanctions in place for their central bank. In this case I Imagine, they have problems buying stable currencies as USD and EUR. Then the logical thing would be to buy some crypto which is better than their local currency.
I would like to express my opinion on the issue rather than the effect on the market. cryptocurrencies are the key to the exit from the economic crisis. Because with crypto coins, people can protect their money against inflation for example argentina! You know Argentina is experiencing economic crisis and a few weeks ago, bitcoin reaches highest level in history on argentine peso basis. cryptocurrencies are the key to the exit from the economic crisis that is a certain truth!
I believe that Venezuela can make a very big stir not only in the world of the cryptocurrency market, but also create a panic in the government of the United States of America. I believe that everyone knows that Venezuela is practically the leader in holdings of world oil reserves in the world, which make up about 18%. In addition, I want to mention the fact that the leaders of the Venezuelan oil and gas industry PDVSA plans to use Ethereum and Bitcoin as payment for their suppliers. In this way, they can circumvent the sanctions of the United States of America. Based on this, I believe that cryptocurrency can dramatically change the situation with the economy of this country.
Just a suggestion: you might want to provide a link when you're sparking a discussion based on news reporting. That way we don't have to go digging for whatever article you're referring to.
https://www.bloomberg.com/news/articles/2019-09-26/venezuela-has-bitcoin-stash-and-doesn-t-know-what-to-do-with-it
Keywords:
There are several other countries that have saved bitcoin as its digital assets
This draw me attention, which countries are holding BTC that you know for sure, not any speculation?
The only country I know it's Bulgaria
This draw me attention, which countries are holding BTC that you know for sure, not any speculation?
The only country I know it's Bulgaria
Ignore obvious shitsposts next time, he is just trying to make his quota....
Every one know, USA every look to attack countries with big oil crude production.
And Venezuela have support from Russia
And Venezuela have support from Russia
Top 15 oil producers looks like this: (of course, counting out the US which ranks 1st)
Saudi Arabia,Russia,Iraq,Iran,China,Canada,United Arab Emirates,Kuwait,India,Venezuela,Mexico,Nigeria,Angola,Norway
Which and how many of them has the US attacked?
Eh, I should have kept the previous advice for myself
It's not wrong to hold cryprocurrency to help the economy specially the bitcoin. But Venezuela as a nation is under political and economic crisis.Any money will do well in a country with a stable politics. The US will be glad to grind Venezuela government and economic to the ground.
They are probably trying to hedge against depreciation of their own currency. This is no secret that BTC and ETH are commonly used in Venezuela 
Looks like the communist nations are in preparativo to something big coming.
The great crisis is coming?
Yeah, but bitcoin isn't exactly a safe-haven asset to be holding in the event of a crisis--unless those countries are expecting the end of the banking system (which was feared back in 2008 or so). What if bitcoin continues to decline in value? They're going to be left holding a depreciating asset, and it doesn't make sense that they'd do that. If Venezuela was going to be stocking up on anything, I would figure it'd be gold & silver, not bitcoin.The great crisis is coming?
According to the latest information from Bitcoin.com, they have reported on this.
Just a suggestion: you might want to provide a link when you're sparking a discussion based on news reporting. That way we don't have to go digging for whatever article you're referring to.According to Bloomberg, the Central Bank of Venezuela is examining whether it can
receive and transfer cryptocurrencies. Sources said the central bank has been studying
plans that would allow cryptocurrencies to be recorded as international reserves, now
near-record-low levels.
As far as I know, it is not only Venezuela that is holding cryptocurrency at central bank. There are several other countries that have saved bitcoin as its digital assets. they realize that saving or investing in bitcoin is beneficial. venezuela save cryptocurrencies possible as their financial backup. because they intend to replace their paper money to becomes cryptocurrency.
There are several other countries that have saved bitcoin as its digital assets
This draw me attention, which countries are holding BTC that you know for sure, not any speculation?
The only country I know it's Bulgaria
According to the latest information from Bitcoin.com, they have reported on this. I don't know if this is a bad effect or a good effect on the market? Everyone can make a point here.
The crisis is already here, if you haven't noticed Venezuelan people literally starved to death and Russia has been doing really badly since the trade war thing in China vs USA started because they got a lot of help from their friends down south. China is doing not bad considering all things because they still have everywhere else looking to them when it comes to manufacturing but that is gonna last only so far.Hence, they needed crypto and they needed like last year not now, so they are saving up some cash and putting it in their central banks to buy bitcoins (and god knows what other crypto) so they can be fine when USA decides to reelect trump if that ever happens. Its gonna be a rough time period for everyone around them as well so other should start packing too.
The reason that occurs is the oil promotes an unequal economy and a country more easily dominated via its reserves. The government of Venezuela has consistently seized assets from private companies and forced other actors out in favor of themselves.
Its not the USA that is the common point but a country reliant on one resource is unfortunately more vulnerable to military type regimes, we've seen this in Africa with diamonds and continual civil wars that last for generations because controlling that basic resource allowed the violent commands of a few to control the many. USA is especially concerned about the fall of this country because it represents drug trafficking and also a possible local base for Russia to stage military attacks, the Cuba problem could be repeated and Venezuela could be a puppet regime quite easily. Its not a one off instance, I dont think USA is the common point there more the commodity economy.
Its not the USA that is the common point but a country reliant on one resource is unfortunately more vulnerable to military type regimes, we've seen this in Africa with diamonds and continual civil wars that last for generations because controlling that basic resource allowed the violent commands of a few to control the many. USA is especially concerned about the fall of this country because it represents drug trafficking and also a possible local base for Russia to stage military attacks, the Cuba problem could be repeated and Venezuela could be a puppet regime quite easily. Its not a one off instance, I dont think USA is the common point there more the commodity economy.
The last time I have read an article about Venezuela was when they had an econonic problem and planned to use crypto as an alternative or a way to survive in the crisis. I doubt if it could help them.in a big way, but crypto is not a complete solution and will never be. Crypto is not a magic thar can turn someone instantly rich as what some newbies think, what more a whole country. They need a change in their government, remove all the culprits who had put their country to crisis and start fresh.
Crypto is indeed not a complete solution in overcoming economic crisis in their country, but crypto is able to make them survive crisis rather than holding their own currencies. Therefore some time ago the Venezuelan government gave crypto companies chance to enter their countries, this was also an attempt by Venezuelan government to maintain the country's economy so that it would not deteriorate further.
According to the latest information from Bitcoin.com, they have reported on this. I don't know if this is a bad effect or a good effect on the market? Everyone can make a point here.
Generally speaking and assuming that this is really true, then there is a big probability that this can be helping the cause of Bitcoin. However, we also have to understand that one of the most important reasons why this country can be adopting Bitcoin is because they wanted to circumvent trade embargo imposed on them by USA and other entities so that this scenario can lead to Bitcoin being labeled as a tool of rogue countries. On the other hand, this can be a model for other countries in dire straits to also adopt. Let's see what can be.
Now you reached my point. Buying Bitcoin, Venezuela can avoid a little more from USA claw.
Thats fun how USA every time is envolved against countrys when have crude oil in the scenario.
According to the latest information from Bitcoin.com, they have reported on this. I don't know if this is a bad effect or a good effect on the market? Everyone can make a point here.
Generally speaking and assuming that this is really true, then there is a big probability that this can be helping the cause of Bitcoin. However, we also have to understand that one of the most important reasons why this country can be adopting Bitcoin is because they wanted to circumvent trade embargo imposed on them by USA and other entities so that this scenario can lead to Bitcoin being labeled as a tool of rogue countries. On the other hand, this can be a model for other countries in dire straits to also adopt. Let's see what can be.
If they are holding cryptos, this is good for price, but Venezuela is a weird country, they have one of the largest petroleum reserves in the world and people are starving 
So they (governments) are not trustable and I don't think they have enough to make any difference on the market
So they (governments) are not trustable and I don't think they have enough to make any difference on the market
Venezuela is a bankrupt rich country.
Since the death of President Hugo Chaves, the economic crisis has begun. Because of the large oil reserves, 95% of Venezuela's income depends on oil exports. When oil prices fall state revenues also go down. In 2019 Venezuela experienced devastation due to high inflation rates.
The US economic embargo on Venezuela has further worsened the condition of the people, with around 4 million Venezuelans displaced. The issue regarding the Venezuelan Central Bank is likely to be true, following a request from Petroleos de Venezuela SA (PSDV) which is having difficulty receiving payments after being isolated by the Americans. So PSDV is looking for ways that buyers can pay with Bitcoin through the Central Bank and then the central bank will distribute it to oil suppliers in Venezuela.
Some time ago also Venezuela received the first Bitcoin ATM. So the issue of central bank saving bitcoin I think is correct.
Since the death of President Hugo Chaves, the economic crisis has begun. Because of the large oil reserves, 95% of Venezuela's income depends on oil exports. When oil prices fall state revenues also go down. In 2019 Venezuela experienced devastation due to high inflation rates.
The US economic embargo on Venezuela has further worsened the condition of the people, with around 4 million Venezuelans displaced. The issue regarding the Venezuelan Central Bank is likely to be true, following a request from Petroleos de Venezuela SA (PSDV) which is having difficulty receiving payments after being isolated by the Americans. So PSDV is looking for ways that buyers can pay with Bitcoin through the Central Bank and then the central bank will distribute it to oil suppliers in Venezuela.
Some time ago also Venezuela received the first Bitcoin ATM. So the issue of central bank saving bitcoin I think is correct.
A part of crisis in Venezuela economy its caused by USA.
Every one know, USA every look to attack countries with big oil crude production.
And Venezuela have support from Russia
Every one know, USA every look to attack countries with big oil crude production.
And Venezuela have support from Russia
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