Bitcoin Forum

Citizens of Belarus are in a panic about hyperinflation and spending their money before the value drops even farther. The government has stopped the foreign exchange. http://www.zerohedge.com/news/2014-12-22/belarus-full-blown-hyperinflation-panic-blocks-news-online-stores-bans-all-fx-tradin

Bitcoin can get in, but the question is who will accept this failing currency against bitcoin ?

Good question, not many options on localbitcoins:

https://localbitcoins.com/sell-bitcoins-online/byr/ (https://localbitcoins.com/sell-bitcoins-online/byr/)

But technically speaking, you could just sell BTC for BYR and (quickly) buy some other goods, which can be stored long term. So it's still possible to make a good deal.

People in Belarus do not have wide computer network and good enough computer knowledge for BTC use. And English language can be serious problem too  ;D

Buutcoiners also think Belarus isn't a real country

I think putting money into bitcoin is just as risky as a troubled fiat currency, but the potential for future investment is there (though still risky).


How do you know? Are you from there?

absolutely! Like gold, property, dollar (if possible) are good options for long term. But the ppl there have kept  some amount of fiat for daily spending!

Fingers crossed for bitcoin. Its up to the country however, to decide whether or not to use Bitcoin.

they should start accept bitcoin, and leave the other coin for something else(maybe choose one which is fatser in confirmation for small task)

i hope they will accept BTC

Too late for them. Its still time for Russians to invest in Bitcoins before Rouble becomes worse.


Its as risky as some commodity like gold. The advantage is that it can be easily obtained, stored and transferred.

Such things as right now in Belarus happens all the time. And everyone helps Bitcoin tiny bit. Every next year will have more and more impact.

We have seen this happening in other countries too.... people buy bitcoins on the black market, if other avenues are closed to them.

The government will most probably ban bitcoin to protect the local currency.

They will need to shut down ALL internet access, if they want to stop Bitcoin.  ;D ;D ;D ;D

They can still sell their Bitcoins abroad.
problem will be get the bitcoins first(maybe signature campaigns?)
Even BTC with all this year history is better than belarus money

I remain hopeful that a digitally literate and progressive country like Estonia will lead from the front in adopting cryptos in some meaningful and replicable way

The Estonian government appears to be one of the least BTC friendly nations of all by quite a long way.

http://basedreport.com/2014/12/bitcoin-under-assault-in-estonia/

http://www.coindesk.com/estonia-vat-apply-full-amount-bitcoin-trades/

Bitlegal classifies the environment in Estonia as "permissive".
http://bitlegal.io/nation/EE.php

The internet is the only nation that counts.

When you see a sudden depreciation in your currency, you look for a stable source of value. Unfortunately, bitcoin with its current volatility does not provide this function. People would rather buy USD or gold to protect the value of their savings.

Most people divest their savings. Actually most people don't have any savings. If it was only a few that didn't have savings then you can blame them. When most don't have savings then there's a problem with the system. Wages have not increased in decades but costs continue to rise. I'm not saying that dollars are a problem, I'm saying that dollars are THE problem.

I should be good that their are supermarkets or so all over the world where you can pay with BTC as you pay with any other creditcard.
If you could pay your weekly shoppings for example and you can pay with BTC or any other coin, that should be great.
Maybe (i hope) in the next future this will come.