This is how 0.037 Bitcoins looks like in Venezuela

[Coinminer11]

...

Venezuela apparently has been selling a big part of its gold stash (which is a pretty large 370 tonnes, or was...):

http://www.zerohedge.com/news/2015-10-29/venezuela-sells-billions-gold-repay-its-debt

They will have to sell more before too long, or else they will be unable to borrow.

Note that the New York banksters are perfectly OK with receiving gold as "money"!

gold is more true money than fiat currency.

fiat currency isn't money at all in fact.

Gold isnt money either, because it's hard to divide and it has fungibility problems due to forgery.

Bitcoin is the only money around that is both limited, representative of value, and the biggest / safest one out there.

Fiat currency is just a bank note which is = promises that cant be fulfilled.

All of them (fiat money, gold, dollar, yuan and other currencies) are used for trade stuff.
Flash back, i really salute with satoshi nakamoto who can turn their "digital stuff" into real money. (Satoshi Nakamoto is a group name, not only stand for 1 people)

Will come many altcoin too in future.
And when that happen.. Population of bitcoin users will reduced up to 40%

40% Bitcoin and 60% Altcoin.

I can sorta see what I think he means.  Lets say hypothetically bitcoin was more "centralized" by huge mining corps and banks and it wasnt feasable to home mine alts could likely take a turn for the better and become more popular.  I'm not saying this is what will happen just my thoughts.  The beauty of cryptocurrencies is that anyone can create their own unique or cloned coin and if someone can bring value and utility/fungibility to their own coin it becomes a currency of value to whomever finds value in it.  Bitcoin is awesome but some might have reasons for an alt as their choice of coin. All in all yes a very high percentage of alts are just pump and dump coins,  but within the rubbish there are always little gems.  In my mind I cannot see bitcoin without alts or the other way around.

[1714954594]

1714954594

[1714954594]

1714954594

[1714954594]

1714954594

[JinxCoins]

Yeah! It's funny to see how much cash you can get with 0,037 BTC.

[Coinminer11]

Yeah! It's funny to see how much cash you can get with 0,037 BTC.

If that stack was really $12 and not $120 then holy cow that's a really really bad economy

[StevenLiang]

...

Venezuela apparently has been selling a big part of its gold stash (which is a pretty large 370 tonnes, or was...):

http://www.zerohedge.com/news/2015-10-29/venezuela-sells-billions-gold-repay-its-debt

They will have to sell more before too long, or else they will be unable to borrow.

Note that the New York banksters are perfectly OK with receiving gold as "money"!

gold is more true money than fiat currency.

fiat currency isn't money at all in fact.

Gold isnt money either, because it's hard to divide and it has fungibility problems due to forgery.

Bitcoin is the only money around that is both limited, representative of value, and the biggest / safest one out there.

Fiat currency is just a bank note which is = promises that cant be fulfilled.

All of them (fiat money, gold, dollar, yuan and other currencies) are used for trade stuff.
Flash back, i really salute with satoshi nakamoto who can turn their "digital stuff" into real money. (Satoshi Nakamoto is a group name, not only stand for 1 people)

Will come many altcoin too in future.
And when that happen.. Population of bitcoin users will reduced up to 40%

40% Bitcoin and 60% Altcoin.

I can sorta see what I think he means.  Lets say hypothetically bitcoin was more "centralized" by huge mining corps and banks and it wasnt feasable to home mine alts could likely take a turn for the better and become more popular.  I'm not saying this is what will happen just my thoughts.  The beauty of cryptocurrencies is that anyone can create their own unique or cloned coin and if someone can bring value and utility/fungibility to their own coin it becomes a currency of value to whomever finds value in it.  Bitcoin is awesome but some might have reasons for an alt as their choice of coin. All in all yes a very high percentage of alts are just pump and dump coins,  but within the rubbish there are always little gems.  In my mind I cannot see bitcoin without alts or the other way around.

I cannot see bitcoin without alts or the other way around. And this is same with my thinking, in future there are will many new alts, and bitcoin users, probably will use alts too.

40% of all bitcoin users around the world will hold bitcoin and the other 60% will hold alts. Sorry for my bad post.  

[StevenLiang]

Yeah! It's funny to see how much cash you can get with 0,037 BTC.

If that stack was really $12 and not $120 then holy cow that's a really really bad economy

Did you hear about zimbabwe currency before they change it to euro?

"The highest note to be printed in Zimbabwe was the $100 trillion dollar bill. It was worth as little as US$5 and could only buy two loaves of bread."

100,000,000,000,000 zimbabwe dollar is worth as 5 USD or 0.015BTC
I feel sorry about them. 

[Coinminer11]

Yeah! It's funny to see how much cash you can get with 0,037 BTC.

If that stack was really $12 and not $120 then holy cow that's a really really bad economy

Did you hear about zimbabwe currency before they change it to euro?

"The highest note to be printed in Zimbabwe was the $100 trillion dollar bill. It was worth as little as US$5 and could only buy two loaves of bread."

100,000,000,000,000 zimbabwe dollar is worth as 5 USD or 0.015BTC
I feel sorry about them. 

I have not seen this before.  I will need to research it.  That's crazy though! I can't believe this

[StarofBTC]

Lol thats too much notes.. In my country 0.037 btc is settled up with only 2 notes. 

[w00dy]

I have not seen this before.  I will need to research it.  That's crazy though! I can't believe this

you can simply buy them on amazon.

http://www.amazon.de/Zimbabwe-Trillion-Inflation-Central-Bank/dp/B00U1ZMYGC/ref=sr_1_8?ie=UTF8&qid=1446274711&sr=8-8&keywords=trillion+dollar

i got myself one like a year ago.

[Pierre 2]

That looks crazy for that type of country citizen. I guess he can create his own business with that amount of money in that country.
Bitcoin creates miracles. yes.

[iv4n]

Just crazy. Here in Serbia 22 years ago was similar situation. On every 30 hour`s price`s was doubled.

After that they made new one`s and this bill become a toy for kidds. I think I have it somewhere in the house, but who know`s where.

[hectordsd]

0.037 btc now are worth ($841 unnofficial exchange rate) 13.000 Bsf or $15.5

the  goverment increased the salary for 30% to reach Bsf 16.400, date 19 october. Now the minimun wage is $20 worth of 0,046, but compared to the inflation rate you know what i mean.



 

[helloeverybody]

I'm surprised they actually still use that as their currency,  hopefully these kinds of places will come to use Bitcoin.  Anything had to be better than what they are using.

[The Sceptical Chymist]

This is just a wee bit off topic, but Venezuela has some pretty sweet designs on their banknotes.  Too bad they're near worthless.  And yep, this is where bitcoin goes into a phonebooth, takes off its glasses, and changes clothes...

[hectordsd]

yea this is sweet  http://4.bp.blogspot.com/-Y5uOtDahP7w/VV-9nsIwPbI/AAAAAAAAA1Q/aybZDpjnRxU/s1600/cielo%2Brasdda.jpg

[The Sceptical Chymist]

yea this is sweet 

Haha, those are great.  I suppose if those notes are basically worth exactly the paper they're printed on, why not use them as a canvas?  And I say again, they are very nice looking bills.

[Odien]

Amazing. Well, the tale of inflation isn't that unfamiliar to us

[hexitor]

That shows how the government abuses their monopoly on money production

[l8nit3]

holy f*ck! half a months salary! wow, thank you for sharing, i just learned alot!

[Rubberduckie]

Holy hell! does venezuala have safe places to live in nice
neighborhoods?  Is there golf courses lol. I may have to
look into this place

[DebitMe]

I am still looking to purchase a large amount of these bills at the black market rates if anyone is able to get ahold of them and ship them to the states.  There would be a nice payment to the person able to procure these for their efforts.