the life of the society venezuela depends on crypto

[Rizky Aditya]

I am not following what is going on in Venezuela, but I wonder how the economically depressed state can depend on Bitcoin, the price is high and the fluctuations are significant.
Also, I do not expect anyone who is bankrupt to buy Bitcoin with these fluctuations.
If a country wants to get rid of excessive digestion, then increased productivity is the solution. Bitcoin may help, but it is not the right solution.
I have read the comments, but I have not come up with valid words.

I believe this is a good move to allow the interaction between bitcoin and local currency in a weak economy.
Production rates of some countries and economic measures may not be enough to cut their local currency depreciation.
Adopting bitcoin can be a tool to keep these economies on the right track because bitcoin does not depend on the economy of a country.
Only then will the market adapt and will grow steadily.

I must say that the countries who are thinking of regulating these crypto currencies will then be able to have the maximum advantage and that they will then be able to lift up their economies to a significant figure. It is a very good move to depend on the crypto currencies for effective earning and that this will greatly help you in having a chance to live a better living.

[1715106745]

1715106745

[1715106745]

1715106745

[1715106745]

1715106745

[Naida_BR]

Venezuela is in a tough situation right now. I hope that their crypto adoption will help them overcome their economic and financial problems and lead them to growth.
If this happens then nations will embrace positively any crypto or blockchain project as their benefits will be shown to the world.

[Hkim21]

that's right, I've read some articles on this, venezuela is a country that is in economic crisis and sanctioned by the US central bank so that this kills their national currency. Their way out to compete in the world economy is through crypto. Even the president of Venezuela has now legalized the crypto, but it has been prevented by opposition parliament, so that the impact of America does not legalize the digital money coming from Venezuela.

[localxe]

This here is a very delicate matter, i have been following the news for quite sometime now, the corruption of the govt there lead the citizens to give up on their own currency, for me i think it's a good thing, and if this becomes a success it might lead to a better revolution in other countries facing the same situation, also the stability of bitcoin price might come afterwards.

[Ctn]

Off course in that case Venezuela is having bitcoin as the option. I guess such countries should step froward and get into the crypto currencies for sure. I am not saying that they should be adopting it but they should be bending the crypto assets in the economic circulation they are having and thus that way they can dilute the crisis or the currency devaluation. At least until the situation becomes easy to handle they should add up bitcoin as currencies and as you said they are already into it and trying to get most of the essence from the bitcoin. Thats the currency they should adopt because it has the higher value than their own local currencies.

[Indamuck]

Venezuela's inflation rate is high, and the country's legal currency has no value at all, so new currency circulation is needed. Although BTC is not the first choice, it is also a good choice.

It's gotten so bad that many Venezuelans have resorted to playing video games such as Runescape to farm gold and sell it on the black market.  Your economy is truly screwed if citizens can make more money farming gold on an online job than working in their own country.

[alentmay]

that's right, I've read some articles on this, venezuela is a country that is in economic crisis and sanctioned by the US central bank so that this kills their national currency. Their way out to compete in the world economy is through crypto. Even the president of Venezuela has now legalized the crypto, but it has been prevented by opposition parliament, so that the impact of America does not legalize the digital money coming from Venezuela.

If their own currency is already crashed, then they have very good opportunity to use bitcoin and make it as their first currency, I think that very soon they will be able to restore their economic status, because I am hopeful that bitcoin will really give the financial assistant.

[Burogh]

Its hard to see peoples of venezuela facing this economic crisis. Government should take necessary step to lift that crisis and their solution should not only depending on cryptocurrency because not many peoples familiar with cryptocurrency. Hopely that crisis can be handle

[The Sceptical Chymist]

Gold and silver or not practical options either .It very hard to hide gold and silver form a the venezuela goverment .They more then likely seize it if they know u had it .It way easier to hide crptocurrency .

I'm curious to know whether the government is doing anything like that.  I'm really not into politics or world events, but I've watched a few videos about Venezuela and have read some stuff here.  They're going through a hyperinflation situation, which is one of the events that the precious metals shills often use to hype metals.

What I'd like to know is whether Venezuelans are using gold or silver as stores of value at all.  I suspect that most aren't, because it sounds like most of them are dirt poor to begin with.  I have read some articles about Dash being used in lieu of their fiat currency, but I'm not sure how prevalent that is.  In any case, crypto is definitely easier to hide from the government if they were intent on seizing assets from citizens.

Does anyone know about asset seizing?  I haven't read anything about that.

[cryptocurrencyguru]

Venezuela is deeply efforted with hyperinflation the country is working on bringing cryptocurrencies in mainstream so we can see mass adoption of crypto