Venezuelans are turning to bitcoin as the bolívar crumbles

[prabowo96]

I believe that the smart guys here is who is selling bitcoins because if the fiat money are devaluated, in the future this currency will grow again, so if you hold a lot of this currency, you can have a good profit in the future when the Venezuela economy start to raise again

In my opnion is a good time to sell bitcoins there, not to buy.

[Robertqueen2]

Not only Venezuela, in every place in the world where there are political or commerical issues Bitcoin is good option to save the money value, some traders said that the last pump in Bitcoin price is the result of Yuan falling, even Egyptian people are buying Bitcoin because their currency (Egyptian pound) is falling down.

[Yakamoto]

I believe that the smart guys here is who is selling bitcoins because if the fiat money are devaluated, in the future this currency will grow again, so if you hold a lot of this currency, you can have a good profit in the future when the Venezuela economy start to raise again

In my opnion is a good time to sell bitcoins there, not to buy.

>Bolivar
>Value growth
Choose one bud.

The bolivar is in a terrible position right now, and likely will be for a long period of time still. I'll be surprised if they continue to use the bolivar a few years in the future, and they might simply make another to recover from this terrible economic position.

While holding it for the future isn't a bad idea, the chances of it being revalued is incredibly low. Anyone flipping BTC for fiat in Venezuela is highly overcharging and is moving his fiat through almost immediately. I wouldn't want to be caught holding that.

[iv4n]

I didn`t know that situation is so terrible in Venezuela, when economy is falling apart people suffer a lot, and richer are getting richer. I don`t know how many people there knows about bitcoin, and how much active users from there is active here. I don't believe that bitcoin can save their country, but bitcoin will be salvation for many Venezuelans who knows about it, and have active roll in this community.
I don't think their government will adopt bitcoin, two many strings one country have with dollars, who will allow them to do that?

[outatime1]

If they have a way to convert to bitcoin or US dollars or something like gold, they have a chance to hold the value. It would be nice for bitcoin to be more available for people in this situation.

[Doamader]

If they have a way to convert to bitcoin or US dollars or something like gold, they have a chance to hold the value. It would be nice for bitcoin to be more available for people in this situation.

Im sure there are some companies interested into providing this service, but the governement wont allow no one outside or inside to allow people to save their currency into bitcoin or dollar. I remember someone offer a partenership to make a mine there, i dont know what happened, but some months ago some people got jail at Venezuela because laundering money, atleast is what the news reported.

[justdimin]

Let's hope Venezuelans embrace BTC en masse.

http://qz.com/825519/venezuelans-are-turning-to-bitcoin-as-the-bolivar-crumbles/

Let them quickly adopt it before it may become too late for them to do so. Not only Venezuela but almost every country of this world is going for bitcoin adoption because of its lucrative potential. They better start adopt bitcoin right away so that they will avoid from further hardship.