Worsening Inflation In Venezuela Continues to Drive People Toward Bitcoin and Cryptocurrencies
Venezuela is not the most pleasant country to live in right now. Hyperinflation in the region is soaring to new heights virtually every quarter. It does not appear the central bank has any option to solve this platform anytime soon. Things are only getting worse as more time progresses. It is not entirely surprising to learn more and more people are looking to obtain cryptocurrency. Venezuela set a new weekly LocalBitcoins volume once again.
Topic: Why are Venezuelan not switching to Bitcoin? - page 2. (Read 13023 times)
Stop being ridiculous. We all know that the government will never ever accept bitcoin as a main currency because they can not control this currency. Moreover, no one will use anonymous cryptocurrency for a country system
But it helps to overcome government failures. See article from yesterday below.
Venezuelans Keep Surviving Government Failures Thanks to Bitcoin and Other Cryptocurrencies
Cryptocurrency adopters in Venezuela are currently surviving government failures partly thanks to digital currencies, such as bitcoin and dash, which help them buy food and groceries from other countries.
As previously covered by CCN, hyperinflation and government policies prevent most people in the country from accessing foreign currencies, which led to a serious of problems, including food becoming barely affordable. Those who deal with foreign customers or buy from abroad, for example, were forced to turn to digital currencies which, right now, are in a gray area in the country.
https://www.cryptocoinsnews.com/venezuelans-keep-surviving-government-failures-thanks-bitcoin-cryptocurrencies/
Stop being ridiculous. We all know that the government will never ever accept bitcoin as a main currency because they can not control this currency. Moreover, no one will use anonymous cryptocurrency for a country system
Well this is another authoritarian regime that wants to control bitcoin, but apparently no country or government can banned it. Venezuela government has banned bitcoin, they don't want their citizens to really enjoy bitcoin and used it to help them alleviate their daily lives. That's why we pity our fellow bitcoin enthusiast we live in a authoritarian country. Freedom today is likely a privilege that any country will take it away from its citizens and not enjoy it. Lucky for us that our government is bitcoin friendly so that we are enjoying it right now. I really hope that other government will find bitcoin not only used in illegal means, but rather very helpful to their citizens specially earning through it.
Venezuela is one among the country that experienced a big crash on the oil crisis. Now this time it could have got recovered, but the government and the entire system seems to be corrupt. This takes time for a change.
No government would voluntarily switch to a decentralized and difficult-to-control currency such as Bitcoin. This is not the point of discussion. It's about people. Why the people doe not switch to Bitcoin to secure their savings and their values. And not the government, which has already shown its failure.
Is there any government who is willing to switch to Bitcoin (or any other cryptocurrency)? Can you combine these currencies with taxes? I dont think so, right? So, thats a big no no no for every country's government.
Is there any government who is willing to switch to Bitcoin (or any other cryptocurrency)? Can you combine these currencies with taxes? I dont think so, right? So, thats a big no no no for every country's government.
Its easy to understand that the president dont wanna to let people to get freedom, neither save their money over bitcoin, i did read some news about a mining project that took the owners to prison, i dont know what were the issue at all, but there they wont be able to push bitcoin ahead if they dont change the president on the new elections.
In Turkey, there is a stock market, there is a stock market, on behalf of "BtcTurk", it is closed, they do not want to see innovation, they are censoring everything.
Well, it's not exactly supposed to surprise me that stuff is censored in a place like Turkey. Considering they basically voted to get rid of democracy there is nothing that I worry about coming out of Turkey for a very long time.They don't want people to use Bitcoin because it saps from the value that their own country has, both in an economical and social manner, and that is simply something a government structure like that can deal with. As such, they get censorship.
I don't think that they are not yet comfortable with bitcoin because of the possible flaws that they see in bitcoin and we cannot blame them if they are not accepting bitcoin because it is not that easy to trust because of being online money. Bitcoin just needs more time to prove to itself that it is a good and trusted currency.
Venezuelan authorities are cracking down on Bitcoin mining facilities and are focused on “weakening” these mining operations within the region. According to reports on January 27, the Organized Crime Bureau of the Bolivarian National Police (BNP) shut down an 11,000 unit Bitcoin mining undertaking.
Full article
Full article
Of course the UK/EU is likely cracking down on bitcoin in similar ways. They're only being more discreet and sneaky about it. Using the media to attack bitcoin's reputation rather than opting for the heavy handed totalitarian approach.
If the euro/pound start to devalue and people turn to crypto as a means of avoiding hyperinflation, they could resort to more drastic measures.
I started the thread over a year ago. I would not have thought at the time that the topic would still be so topical today. Venezuela sinks into chaos. It must even go bad deals with Goldman Sachs. The population is the most popular. The currency has been massively depreciated in recent days. Since gold is hard to get and defective goods, only alternatives such as bitcoin and other crypto currencies are left for the people to keep value.
Today I read this impressive story about something telling that Bitcoin stands family starvation.
http://www.valuewalk.com/2017/06/bitcoin-stands-family-starvation/
Today I read this impressive story about something telling that Bitcoin stands family starvation.
http://www.valuewalk.com/2017/06/bitcoin-stands-family-starvation/
...
I read that Maduro y Cia are now going after the bread bakers. They do not grow wheat in Venezuela, they must import it. The directives also apparently include demands that bakers only cook basic bread (cheap) and not produce any pastries or cakes (expensive).
Some bakeries have already been seized by their government. Great..., their bakeries will be run by bureaucrats and cronies.
I read that Maduro y Cia are now going after the bread bakers. They do not grow wheat in Venezuela, they must import it. The directives also apparently include demands that bakers only cook basic bread (cheap) and not produce any pastries or cakes (expensive).
Some bakeries have already been seized by their government. Great..., their bakeries will be run by bureaucrats and cronies.
Worth to read the blog entry of a Venezuelan named Alvaro writing about "Using Bitcoin To Survive in Venezuela" on CryptoHustle.
The situation in Venezuela is getting more and more worse. CNN is closed and many bad things are going on.
Forbes released an interesting text about why Venezuela's currency crisis is a case study for Bitcoin. Worth reading.
Forbes released an interesting text about why Venezuela's currency crisis is a case study for Bitcoin. Worth reading.
The government of Venezuela does not want their citizens to use bitcoin because she cannot control them. Bitcoin means freedom and their president will lose his chair if Venezuelans escape from the shackles of this worthless and undervalued local currency that is, bolivar. I don't know if after a while the situation will be the same like as in Zimbabwe where 1USD=35 quadrillion Zimbabwean dollars.
The situation in Venezuela is getting more and more worse. CNN is closed and many bad things are going on.
Forbes released an interesting text about why Venezuela's currency crisis is a case study for Bitcoin. Worth reading.
Forbes released an interesting text about why Venezuela's currency crisis is a case study for Bitcoin. Worth reading.
Venezuela Shuts Down Bitcoin Exchange, Arrests More Miners
Venezuela’s largest Bitcoin exchange Surbitcoin is no longer trading locally after its bank suddenly suspended withdrawal and deposit services.
Full article
Venezuela’s largest Bitcoin exchange Surbitcoin is no longer trading locally after its bank suddenly suspended withdrawal and deposit services.
Full article
As bitcoin is a peer to peer connection , with bitcoin introduction they will loose control over people .with venezuela money they will have control over their people .
The Venezuelan people are suffering under high inflation (official inflation rate is 124%, inofficial rate is 720%). Why do they not switch to Bitcoin or alternative coins? Do they not know about Bitcoin or do they do not have access to Bitcoin buying options? This is really a mystery for me 
Venezuela will be killing their economy completely if they leave their fiat for bitcoins and I've read in the news that their central bank has expressed this concern and have hence barred the usage of Bitcoins in their jurisdiction so I don't think it's a matter of knowledge because they already know and are not interested.
Government rules are bound and strict. But you as citizen are free to choose bitcoin for your daily transactions, think about it.
It all depends on the users, there is no doubt about that. There are people who think that in order for the use of Bitcoin to spread to their countries it is necessary that there be intervention of institutions or companies. However, Bitcoin allows people to have, for the first time, the power to decide how they will transfer value among others, and it only depends on themselves. Jump to: