I know crypto has become a financial escape solution for it's citizens, but I've also heard that there is a lot of persecution for those who do it. Like raids from corrupt police officers etc? How do you deal with that. Have you had any problems of that kind? Also, you didn't really mentioned what you do there. From what I've hear, Venezuela is probably the cheapest place on earth to mini bitcoin. 1 BTC cost less than $1000 to mine, so miners would have a great margin for profit there. Of course that since it's also quite hostile for them, I guess that makes it less appealing for real investors to go there and set up mining business.
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Since you live there, you can probably provide better info that what we read on the news, so what is your perspective on those things?
Yes, you are right, cryptocurrency mining is very cheap compared to other countries. However, as you say, at the same time it is dangerous. If I say to you that recently the customs confiscated mining equipment with an approximate value of 150,000 dollars and it is very probable that the government, upon request, intercepts your house simply because it is producing money.
I do not mine any type of cryptocurrency, I only buy them and sell them to make a profit. Thank God I have not had any problem with the government or the police about what I have done. I regret people who did have problems
LOL no, with venezuelan people many of them living in extreme poverty, I can say it to you, they have no tools to use cryptocurrency and also maybe they got no education on how to operate basic internet how are
they supposed to know how to use cryptocurreny or capable of using it? You're one people among thousands maybe, who can access internet as you like.
Yes, many live in extreme poverty but some can access the internet. People have little interest in learning to invest or undertake and most do not know about the world of cryptocurrencies or have not even heard about Bitcoin. In the country there is very little investment in education and much less in technology, that is why we are a country extremely ignorant in terms of technology. Smart people who use the internet for good have learned them alone without help from anyone, only with the help of the internet to get into the world of cryptocurrencies.
You are the world of cryptocurrency for 2 years, and the forum is no more than "Newbie".. Theme created for your nobility cryptocurrency? Well, very informative topic
Thank you, cryptocurrency, Amen.
I've never been interested in write in forums or any other platform. I have other things to do than been writing in a forum for too many time. Now, i have a little free time to expend and that's why i am here. Regards.
Bitcoin will not solve the problem of poverty in the world but may help improve the income of those who use it.
I read a lot of articles and stories about the effect of the Bitcoin in Venezuela and how it helped many families but needs patience, as well as capital which I do not think, is available in those countries.
Bitcoin may help to reduce the frustration in your country, but you need more to end the poverty
You right, i used some savings that i had in dollars to start to invest in the cryptocurrencies' world and that was my start
I guess you invested and kept the value of your assets that way (since the value of your currency is always diminishing relative to Bitcoin value)?
When i sell my cryptocurrencies, i keep them as dollars and when i need to buy something in Bolivares (Venezuela's currency) i change those dollars to Bolivares quickly to avoid the devaluation of my money.
Your situation is a great example. But are you able to cash out your crypto in Venezuela? How do you manage it? Have you had any problem regarding the matter?
There are few but functional pages where you can sell your BTC in Bsd (Bolivares). For example LocalBTC
Good on you OP. I have a couple of questions, if you have the time to spare.
How is Bitcoin adoption in Venezuela? Crypto users on the internet seem to be under the impression that it's what everyone uses despite having a very prolific underground market for USD and other foreign currencies. Do people actually use Bitcoin for goods, or is it used more as a storage of wealth?
Also, do Venezuelans actually use the Petro? What is the common people's opinion of it?
Poor investments in technology and education. Most people think that bitcoin is the only cryptocurrency that exists, while the few people use it for goods. It depends on who you talk to, many people use it for goods while others use it to store their wealth.
No, we do not use Petro, for the same reasons that you would not use it. However, the government wants to force the use of Petro in stores and franchises as a method of payment. But tell me, does it make sense that in a country where poverty is high and the levels of investment in technology are low, a cryptocurrency is used as a payment method?
