This is how 0.037 Bitcoins looks like in Venezuela

[Blind Legs Parker]

and this is a graph of venezuela and us$ exchange rate

I read here that they had, I quote: "four exchange rates: two that the government uses to pay for its imports, the unofficial (black market) rate and a new one Maduro introduced Thursday." The article is from February 20, 2015, so the Thursday they're talking about is from February 2015 too.

I'm saying that because your chart is indeed very impressive and scary but when I tried to verify the information on ADVFN I found this (which actually compares euros to bolivar because I couldn't find USD/VEF on ADVFN, but that doesn't explain the gap between your chart and these anyway):


Now this chart is faaaaaaaaaar less alarmist. So far that it doesn't even seem like they're talking about the same thing (but they are). So, is it because they are based on two different exchange rates? And if so, how can they be so different? I mean it's day and night that we're talking about, here. The rate presented on ADVFN is still showing that the bolivar is losing ground, but the scale is much less frightening than on your chart.

[n691309]

Venezuela and Vietnamm seems to have the lowest value of their currencies in the world, for example 12 US Dollar equals to 270,384.00 Vietnamese Dong

[bitsmichel]

This is why Venezuela will be the first country to adopt a virtual currency.

 0.037 Bitcoins o almost 12 Us$

It loos like a lot of money, but is the equivalent to half of the monthly minimum wage

I had no clue Venezuela was doing that bad. They could actually earn a months salary with a signature campaign 

[amalref]

Could someone tell me more info about electricity rate in Venezuela? in us $ please.

[MyBTT]

holy crap.

Then yes, thats one of the few countries will prosper from bitcoin esp. It might even bring business based on them having enough capital to start their own business.

I didnt know it effected by that much though, a half months salary is what I make every week then..

They need cryptocurrencies very badly in Venezuela. I doubt they will adopt it seeing the shape of the country right now.

[Blind Legs Parker]

Could someone tell me more info about electricity rate in Venezuela? in us $ please.

Feeling like opening mines, amalref? 

[amalref]

Could someone tell me more info about electricity rate in Venezuela? in us $ please.

Feeling like opening mines, amalref? 

Yes, if there is a cheap electricity.
But mainly I'm interested in the exchange rate.
I would like to know if I'll be a millionaire in Venezuela: D

[actmyname]

Could someone tell me more info about electricity rate in Venezuela? in us $ please.

Feeling like opening mines, amalref? 

Yes, if there is a cheap electricity.
But mainly I'm interested in the exchange rate.
I would like to know if I'll be a millionaire in Venezuela: D

The only problem is how the community works. Crime could be very prevalent in the areas if there's not a reasonable way to get money and that could be a problem if you're particularly rich in Venezuela.

There's always that risk factor to it

[Amph]

Could someone tell me more info about electricity rate in Venezuela? in us $ please.

it's pretty cheap, there is one guy in the mining section, who is offering a renting service

then you have this useful thread https://bitcointalk.org/index.php?topic=1231822.0, the problem seems security, too much criminal going on there, maybe if you can build a subterrain thing that is well hidden...

[XinXan]

This is why Venezuela will be the first country to adopt a virtual currency.

 0.037 Bitcoins o almost 12 Us$

It loos like a lot of money, but is the equivalent to half of the monthly minimum wage

I had no clue Venezuela was doing that bad. They could actually earn a months salary with a signature campaign 

You could actually be rich with a signature campaign but you can also get shot if you go there so i'd rather stay in my country where the value is lower than get shot in a country where life quality is bad

[OROBTC]

This is why Venezuela will be the first country to adopt a virtual currency.

 0.037 Bitcoins o almost 12 Us$

It loos like a lot of money, but is the equivalent to half of the monthly minimum wage

I had no clue Venezuela was doing that bad. They could actually earn a months salary with a signature campaign  

You could actually be rich with a signature campaign but you can also get shot if you go there so i'd rather stay in my country where the value is lower than get shot in a country where life quality is bad

I would speculate that anyone from the USA or Europe who otherwise goes to Venezuela for other reasons could bring along some BTC with them (hardware or online wallet) and make some easy BOLIVARES in trade (so enjoy your steaks!), similar to what I hear people do when they visit Argentina.

More BTC in Venezuela is a good thing.  Good for someone bringing BTC there, and good for the local buyers who have some safety for their wealth.

*   *   *

I am not in a good position to comment, but I would *guess* that setting up a mining operation there would NOT be a good idea.  Crime and all (as pointed out above).  Venezuela even before Chavez/Maduro was always a higher-crime place than was widely thought.

[hectordsd]

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.

i could try, but most of the couriers here wont let me send those amount of bills, or i guess i can figure how, anyway, i can find any amount of any type of banknotes, (bsf 2, 5 and 10 the lowest)il will send you a pm

 the crime is related to the area.i live 12 hours far away from Caracas, the center. The crime is more prevalent in the big cities, like Valencia, Maracay and Caracas.

Here is a relative safe place to live, i mean, the only bad this that happened our family has been one time my dad car got stolen while he was waiting for the door to open and other car that got stolen while a worker was driving but the police recovered the car thanks to the gps.

we are mining since middle of this year and we have never seen a electricity bill so i could say its free for us    i spend the most of the time inside my house while getting btc from our small family farm

[Windpower]

This is why Venezuela will be the first country to adopt a virtual currency.

 0.37 Bitcoins o almost 12 Us$

It loos like a lot of money, but is the equivalent to half of the monthly minimum wage

>>>>

>>>>

I must have read that wrong somehow
0.37 Bitcoins does not equal $12 US
0.37 Bitcoins = $100 US (@270 US/ BTC)

Im pretty sure the op, got the price value wrong, but seeing the picture he probably meant $120?

Which is what they earn half a months wage which is still a lot to them.

He already edited it. That means minimum wage in Venezuela is $24. That is very shocking. Most people with jobs earn $100+ a day.

[Greenenergy]

Well... Unfortunately this is the case for many countries around the world, not just Venezuela.

[enhu]

it will make difference when you are there already, the commodity prices and basic necessity. because if when you stay there, your wage might just as will be $24 depending on the kind of profession.
Certianly if you have a lot of USD before going there, you an enjoy the place, would definitely want to go PERU not Venezuela. Machupiccu is a great place to visit.

[OROBTC]

it will make difference when you are there already, the commodity prices and basic necessity. because if when you stay there, your wage might just as will be $24 depending on the kind of profession.
Certianly if you have a lot of USD before going there, you an enjoy the place, would definitely want to go PERU not Venezuela. Machupiccu is a great place to visit.

Peru is a great place to visit!  We go once or twice a year, we partly own an auto parts import company there.  Peru is one of the most interesting countries in the world...  Almost every corner of the country is interesting, and not just the Inca marvels at Cuzco and Machu Picchu.

Here is an example of a part of Peru that is EXTREMELY interesting, yet hardly anyone ever goes there:

http://goo.gl/VCbS5H

But, Bitcoin has almost NO presence there.  I have looked...  My guess is that because Peru has a free market in currencies (no controls), they do not NEED BTC as Venezuela and Argentina do.

[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.

i could try, but most of the couriers here wont let me send those amount of bills, or i guess i can figure how, anyway, i can find any amount of any type of banknotes, (bsf 2, 5 and 10 the lowest)il will send you a pm

 the crime is related to the area.i live 12 hours far away from Caracas, the center. The crime is more prevalent in the big cities, like Valencia, Maracay and Caracas.

Here is a relative safe place to live, i mean, the only bad this that happened our family has been one time my dad car got stolen while he was waiting for the door to open and other car that got stolen while a worker was driving but the police recovered the car thanks to the gps.

we are mining since middle of this year and we have never seen a electricity bill so i could say its free for us    i spend the most of the time inside my house while getting btc from our small family farm

I have responded to your PM, interested in working with you.

Thanks!

[Wendigo]

Wow I didn't even imagine one could live so well with just $100 over in Venezuela. I thought all the countries in South America are kinda developed or developing quickly. By the way, how is the safety of living in a big city like the capital? Can you go out of your house and take a walk and not fear of getting robbed or kidnapped?

[gkv9]

If one could live well on $100 at a place like Venezuela, then I would definitely like to visit there as my earnings are definitely more than what they are getting in actual wages...

Good OP, hope to see Bitcoins used there completely and get $$$ vanished from there...

[NorrisK]

If one could live well on $100 at a place like Venezuela, then I would definitely like to visit there as my earnings are definitely more than what they are getting in actual wages...

Good OP, hope to see Bitcoins used there completely and get $$$ vanished from there...

I would seriously reconsider this.. Venezuela is one of the most dangerous contries to live in at the moment. Lots of tourists get robbed or killed there for a few dollar.

If you value your life you better go to a more expensive country where a bit of cash doesn't draw a ton of attention.