Venezuela Citizens Turn To Bitcoins In Record Numbers

[jak3]

from me its a wise decesion now all we have to wait is to see the live results of this experiment i know it has 99% chances of being success as venenzula's people at this time needs something which can make them self development other than relaying in banks

[Kprawn]

The Venezuelan government will react harshly, if they perceive this as a method to bypass their capital controls. The Venezuelans are only

using Bitcoin to hedge against the devaluation of their wealth, not to avoid capital controls. We should rather work with democratic elected

governments to support Bitcoin, not  work against them, and in the end having them over regulate the technology or getting it banned. 

[arransiv]

The Venezuelan government will react harshly, if they perceive this as a method to bypass their capital controls. The Venezuelans are only

using Bitcoin to hedge against the devaluation of their wealth, not to avoid capital controls. We should rather work with democratic elected

governments to support Bitcoin, not  work against them, and in the end having them over regulate the technology or getting it banned. 

Good governments? Where? 

I don't believe in democracy because the government is just reflection of the people and people just don't care about bitcoin/freedom or good things

[magemist]

The Venezuelan government will react harshly, if they perceive this as a method to bypass their capital controls. The Venezuelans are only

using Bitcoin to hedge against the devaluation of their wealth, not to avoid capital controls. We should rather work with democratic elected

governments to support Bitcoin, not  work against them, and in the end having them over regulate the technology or getting it banned. 

Good governments? Where? 

I don't believe in democracy because the government is just reflection of the people and people just don't care about bitcoin/freedom or good things

But this is coming a Venezuelan that is currently living there governing under their laws and their rules?

I know their gov't will have any of their citizens killed for any inking of retaliation against them.

[Wind_FURY]

I tend to laugh at these comments. It is like everyone is branding Bitcoin as the answer to all our financial and political woes. It is a step forward but it is far from being the ultimate solution that would straighten up the world into a Utopia. We are now sounding like those stoners who keep saying that "Hemp will save the world" like it was that simple.

Bitcoin alone can't save anyone, but with bitcoin we might influence current rotten economic & banking system based on endless debt spiral and effectively making us slaves in a process.

Do you think it is pure coincide that Bitcoin is banned in Bolivia and Ecuador? South American countries are known for their financial instability - authorities fear bitcoin will take power from their hands.

I accept the fact that Bitcoin is a breakthrough and has widened the meaning of how define "money" as Money. Let us just leave it at that first and be here for what it is, a break through and our tour de force and leave politics, the cult like behavior and the utopian fantasies out of it.

Things will evolve and come naturally and I am confident Bitcoin will indeed change the world for better or worse.

[Pursuer]

The Venezuelan government will react harshly, if they perceive this as a method to bypass their capital controls. The Venezuelans are only using Bitcoin to hedge against the devaluation of their wealth, not to avoid capital controls. We should rather work with democratic elected governments to support Bitcoin, not  work against them, and in the end having them over regulate the technology or getting it banned. 

not going to happen because it is only a temporary increase in trading volume and that is because of the situation bitcoin is in right now. first let the trade volume in Venezuela stay up for a couple of weeks at least then make a conclusion that people are turning to bitcoin as their currency or even investment and government reacting at all!

I promise you next month the volume will be 1/10 of today on Venezuela as soon as bitcoin rise starts becoming slower.

[Doamader]

The problem might be and will be for sure the government allowing this to happen, this will mean they loose their power against the people, and i doubt they will allow, but for the people bitcoin will and should help them to store their money being in bitcoins or using it to get dollars.