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Author Topic: Venezuela's growing interest in bitcoin explained  (Read 95 times)
sindikat
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April 13, 2018, 05:35:28 PM
 #21

i have been heard about this before that Venezuelan people has been starting to involved to bitcoin because they're life in the county who have high inflation so their currency is not worth anymore as the payment but i think with the volatility of bitcoin it's still hard to people at there make bitcoin as the savior of them
I do not believe that bitcoin can help the people of Venezuela. Their cans are empty. Where will they change bitcoins? Venezuela's currency is worth nothing and it is impossible to buy even food for the money. Even if you carry food and dollars from abroad you will be robbed on the way. No. It is impossible to live in such a country. That's why next to bitcoin always has to be a Fiat economy.
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April 13, 2018, 06:01:44 PM
 #22

i have been heard about this before that Venezuelan people has been starting to involved to bitcoin because they're life in the county who have high inflation so their currency is not worth anymore as the payment but i think with the volatility of bitcoin it's still hard to people at there make bitcoin as the savior of them
I do not believe that bitcoin can help the people of Venezuela. Their cans are empty. Where will they change bitcoins? Venezuela's currency is worth nothing and it is impossible to buy even food for the money. Even if you carry food and dollars from abroad you will be robbed on the way. No. It is impossible to live in such a country. That's why next to bitcoin always has to be a Fiat economy.

It could help save whatever money they have to left by converting it to btc but that wont be enough to "save" them. Their focus should be reforming the government. Clearly, to get into this mess, there is something wrong with how they run their financial institution. I do hope they recover though.

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