They wont be running active listings while not responding because it would look bad for their reputation and also scoring on response time. The pricing is inaccurate because dollars are not freely available in the country and dollar must be smuggled in so its price accuracy is about the same as various drugs where price varies massively
I read people use jetskies to travel far into the ocean and register their credit card trades there where its not subject to restrictions they might suffer on shore. So to settle a bill they must leave the country and return with the mans card, hell of a reason to be using crypto instead seems like
It is actually a hard chore to enable a credit card for international use, you need to use the official USD auctioning site, which very few people manage to obtain dollars from, but before that you must have a special bank account in USD. To bid in the auction you need a large amount in fiat, which would be locked until the auction ends, and you might not get chosen. When your fiat halves its purchasing power every day, that is not exactly enticing.
The credit card can only be funded from this special bank account, it doesn't matter if you have millions of the local fiat. So if you only managed to obtain $400, and that would be the theoretical max. That doesn't mean the credit card actually has that limit, its usually ridiculously lower as its set in the local fiat (called bolivar soberano, VES). Which means, you probably need to use the credit card multiple times, but wait, there are also daily bank limits you must not exceed or your funds get frozen for questioning where they come from... And the limits are low, like $200 a day.
The official dollar exchange rate comes from this, but they only report the "lowest accredited price of the bid", which is a giant lie as most bidders go close to the street ("illegal") exchange rate, but they always allow a single artificially low bid so they can publish that as the "official exchange rate".
In any case the official auctioning site only serves about 10% of the actual demand for USD in the country.
Of course today the trend continues:
Perhaps it takes longer to complete the loop before the fiat loses its value and you end with less
BTC anyway?
Did you know: Last Friday the street USD price was 850ish VES per USD, but today right now it is 1100ish VES per USD? That should give you an idea of the current inflation levels. If we talk about
BTC as you can see from my previous captures, Friday was 4 million but its already 5 million today...
