[2017-06-19]Bitcoin Trading in Venezuela Intensifies, Bolivar Still Down and Dev

[nanay777]

Bitcoin Trading in Venezuela Intensifies, Bolivar Still Down and Devalued
A Bloomberg article pointed out June 15 that Bitcoin trading volume has jumped to 1.3 million this past week in Venezuela. There seems to be ever-increasing excitement about cryptocurrency in the country.
In many places, people are hesitant and skeptical about digital currencies because of possible violent market fluctuations, questionable legality, or concerns about utility. In Venezuela however, no one cannot afford the luxury of being concerned. The price fluctuation is negligible compared to the devalued Bolivar. This has become so apparent that in recent months bitcoin trading has skyrocketed, with last week reaching all time highs according to coin.dance charts.
read more:https://news.bitcoin.com/bitcoin-trading-in-venezuela-intensifies-in-past-week-bolivar-down-and-devalued/

[CryptoBry]

First, it is quite sad to see a mineral-rich and oil-producing country like Venezuela going down the drain primarily because of failed economic policies in the past and bad and obsolete ideologies of their leaders and politicians. I am then hoping that soon the country can experience stability in the economic front and can find good leaders in the political scene.

What is happening right now in Venezuela is a good example of how Bitcoin can be a good alternative (and possibly replace) to a failing national currency. I am so sure that other nations experiencing the same meltdown can now opt to use Bitcoin as their currency in order to survive and buy food in the table.

We can safely say then that if there can be chaos Bitcoin can be of big help. And this is just one facet where Bitcoin can be a savior...we can see more practical applications in the years to come.