Crisis-Torn Venezuelans Opt For Dash and Bitcoin
https://cointelegraph.com/news/crisis-torn-venezuelans-opt-for-dash-and-bitcoin
https://cointelegraph.com/news/crisis-torn-venezuelans-opt-for-dash-and-bitcoin
Crisis-Torn Venezuelans Opt For Dash and Bitcoin
- Thread starter tungfa
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stan.distortion
Well-known member
Bitcoin trading volume more than double localbitcoins in the entire US?!? Fsck! And Dash proving very popular at the only registered crypto exchange in the country, double fsck!! 
The legacy remittance services are going to seriously regret shutting the door on Venezuela!
The legacy remittance services are going to seriously regret shutting the door on Venezuela!
Sub-Ether
Well-known member
The ultimate irony is that unlike Zimbabwe they can't hyperinflate to infinity because they owe millions to the foreign currency printers that banged out three jumbo jets packed full of nicely printed paper with Bolivar's face stuck on it, so the government is el skinto and can't even pay for their own money.
(most countries do not print their own money but tendar the work out to specialists in somewhere like Switzerland)
There is an offer out to any currency printers around the world, high rates promised, delayed payments expected.
Black market values are a 1$ = 1000 bolivars, before the SHTF it was 5 bolivars, this makes a stunning 20,000% devaluation, anchored to real work or mathematical formalae I think not.
The gold has already been exchanged for paper promises, the reserves nearly gone ..
(most countries do not print their own money but tendar the work out to specialists in somewhere like Switzerland)
There is an offer out to any currency printers around the world, high rates promised, delayed payments expected.
Black market values are a 1$ = 1000 bolivars, before the SHTF it was 5 bolivars, this makes a stunning 20,000% devaluation, anchored to real work or mathematical formalae I think not
.The gold has already been exchanged for paper promises, the reserves nearly gone ..
Sub-Ether
Well-known member
They did try blaming and then banning bitcoin on the economies demise but that probably doesn't matter when you are starving hungry and haven't been able to even buy sugar for over a year! Glad I visited when I did because their country will possibly take decades to recover, did you know all the women are getting sterilized and all the upwardly mobile skilled middle classes such as doctors are leaving the country because they have not been paid for months, the hospitals don't even have paracetamel, this is a lost generation.Bitcoin trading volume more than double localbitcoins in the entire US?!? Fsck! And Dash proving very popular at the only registered crypto exchange in the country, double fsck!!
What may happen is a snowball effect of social disintergration via uncontrolled mass migration to neighbouring countries that could topple their economies as well, look whats happening in Europe as an example.
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