Venezuela: The Price of Bitcoin is Now Doubling Every 18 Days

[internationalthrive]

https://bitcoinist.com/bitcoin-price-venezuela-doubling-18-days/

How Is Bitcoin doing in your country? What are the people/government saying about it?

[stompix]

Well, based on the BTC price evolution, in the last 18 days the value of a $ has also tripled .

It's not the price of Bitcoin that goes up, it's the bolivar their national currency that is going to be as worthless as ...(actually manure is worth something so I really don't have a comparison)

Funny that we don't hear anything from the project that would save Venezuela, the petro!!
Was it scrapped already?

[ranman09]

Venezuela is still filled with rallies right? May it doubled the effect of the current fiat market status to them. As per Petro coin.. Scam?

[MartinAK]

Good for Venezuela, i think your national currency is really at the mercy of dollar that is why is doubling for you. For my country is nothing much, is just a little and non significant increase.

[Dexion]

Venezuela is a country that relies on crypto to improve its economy. I think crypto will develop well there.

Other countries must learn and must follow every Venezuela's step. but it's very strange, my country doesn't open the eyes, doesn't care and doesn't make room for crypto development.

I have an obligation to create bridges, so the government and crypto can be important aspects of maintaining the economy.

[UconBit]

Russia and Turkey are in the same boat as they are facing sanctions that are crippling their currencies. It's probably not nearly as severe, as Venezuala really has it bad. But it looks like Turkey could fall down that slippery slope pretty soon too.

Capital control is about the only thing these governments can do to keep money from slipping though their fingers. China figured it out, but they still are facing problems. When are governments going to learn that if they try to stop their people from doing something, they want to do it even more?

[mk4]

Venezuela is a country that relies on crypto to improve its economy. I think crypto will develop well there.

Other countries must learn and must follow every Venezuela's step. but it's very strange, my country doesn't open the eyes, doesn't care and doesn't make room for crypto development.

I have an obligation to create bridges, so the government and crypto can be important aspects of maintaining the economy.

They're using assets like cryptocurrencies to have a hedge against their local fiat money, because their economy is going haywire. They're not using cryptocurrencies for the sake of adoption. They're just pretty much forced to use it as even though cryptocurrencies are volatile, their fiat money is a lot worse.