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Author Topic: Can bitcoin help rebuild Venezuela? - Darb Finance  (Read 1203 times)
Dr.Osh
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September 14, 2019, 10:00:00 AM
 #121

according to the news that I read, a bitcoin-based ATM was installed in Venezuela on September 10 yesterday. this proves that Venezuela is one place that is suitable for the development of bitcoin. This will facilitate the use of bitcoin, bitcoin cash, and dash on Venezuela. for more information about this, you can read in https://cointelegraph.com/news/after-multiple-false-starts-venezuela-may-have-its-first-bitcoin-atm

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September 14, 2019, 02:00:47 PM
 #122

according to the news that I read, a bitcoin-based ATM was installed in Venezuela on September 10 yesterday. this proves that Venezuela is one place that is suitable for the development of bitcoin. This will facilitate the use of bitcoin, bitcoin cash, and dash on Venezuela. for more information about this, you can read in https://cointelegraph.com/news/after-multiple-false-starts-venezuela-may-have-its-first-bitcoin-atm
To be honest with you, the information you read always appears a lot every day, apply crypto and bitcoin ATMs, launch bitcoin's ATMs somewhere but these stories really don't have a lot of convincing evidence, mostly appear for a short time and then people will forget it, these bitcoin ATMs are still operating until now or it has stopped working, it is a question without an answer. Therefore, do not rush to think that Venezuela is a suitable country to develop bitcoin, and bitcoin doesn't rebuild a country, it just builds assets for people who know how to use it

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September 14, 2019, 03:16:05 PM
 #123

according to the news that I read, a bitcoin-based ATM was installed in Venezuela on September 10 yesterday. this proves that Venezuela is one place that is suitable for the development of bitcoin. This will facilitate the use of bitcoin, bitcoin cash, and dash on Venezuela. for more information about this, you can read in https://cointelegraph.com/news/after-multiple-false-starts-venezuela-may-have-its-first-bitcoin-atm

How is Venezuela suitable for developing the ecosystem?
Venezuelans do not have a lot of mine to buy amounts of bitcoin... They search for food in garbage bins.
If you want to develop the ecosystem you should bring a developed country to bitcoin embrace. Otherwise, nothing is going to happen and the condition will be stagnant.

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September 14, 2019, 06:18:00 PM
 #124

To be honest with you, the information you read always appears a lot every day, apply crypto and bitcoin ATMs, launch bitcoin's ATMs somewhere but these stories really don't have a lot of convincing evidence, mostly appear for a short time and then people will forget it, these bitcoin ATMs are still operating until now or it has stopped working, it is a question without an answer. Therefore, do not rush to think that Venezuela is a suitable country to develop bitcoin, and bitcoin doesn't rebuild a country, it just builds assets for people who know how to use it
I agree with your opinion, but when a country installs a bitcoin atm, I think that the country supports its people to use bitcoin. because of that, I think it's appropriate to start developing Venezuelan thinking about cryptocurrency-based businesses, especially bitcoin.

this is just an estimate that I have in mind, but with that in mind, I am sure Venezuela can use bitcoin to their advantage whether it is individuals or groups, and that can make Venezuela a step ahead. although there are people who think that it is a small thing, but the change also starts in small things.

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September 15, 2019, 02:17:25 PM
 #125

according to the news that I read, a bitcoin-based ATM was installed in Venezuela on September 10 yesterday. this proves that Venezuela is one place that is suitable for the development of bitcoin. This will facilitate the use of bitcoin, bitcoin cash, and dash on Venezuela. for more information about this, you can read in https://cointelegraph.com/news/after-multiple-false-starts-venezuela-may-have-its-first-bitcoin-atm
To be honest with you, the information you read always appears a lot every day, apply crypto and bitcoin ATMs, launch bitcoin's ATMs somewhere but these stories really don't have a lot of convincing evidence, mostly appear for a short time and then people will forget it, these bitcoin ATMs are still operating until now or it has stopped working, it is a question without an answer. Therefore, do not rush to think that Venezuela is a suitable country to develop bitcoin, and bitcoin doesn't rebuild a country, it just builds assets for people who know how to use it
Venezuela countrie use bitcoin because it is in a difficult position after their currencies have hyper inflation, I think Venezuela should improve the government system first, so that there is no severe corruption. with a healthy government I think it will be easier to improve the country's economy

           
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September 17, 2019, 11:02:20 AM
 #126

according to the news that I read, a bitcoin-based ATM was installed in Venezuela on September 10 yesterday. this proves that Venezuela is one place that is suitable for the development of bitcoin. This will facilitate the use of bitcoin, bitcoin cash, and dash on Venezuela. for more information about this, you can read in https://cointelegraph.com/news/after-multiple-false-starts-venezuela-may-have-its-first-bitcoin-atm
To be honest with you, the information you read always appears a lot every day, apply crypto and bitcoin ATMs, launch bitcoin's ATMs somewhere but these stories really don't have a lot of convincing evidence, mostly appear for a short time and then people will forget it, these bitcoin ATMs are still operating until now or it has stopped working, it is a question without an answer. Therefore, do not rush to think that Venezuela is a suitable country to develop bitcoin, and bitcoin doesn't rebuild a country, it just builds assets for people who know how to use it
Venezuela countrie use bitcoin because it is in a difficult position after their currencies have hyper inflation, I think Venezuela should improve the government system first, so that there is no severe corruption. with a healthy government I think it will be easier to improve the country's economy
Removed Maduro in power and then we will take if bitcoin can help rebuilding their economy.

Today, we are seeing the bitcoin is really helping them survived. I read reports that it needed like $15 billion to rehab the country, so how can bitcoin support that? There need to be some economic stimulus at some point and help from other countries like US.

Bitcoin can still be used as a tool, but to say that it is the miracle that Venezuelans are prying to help them recover, I'm not sure about that.

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September 17, 2019, 11:05:32 AM
Last edit: September 17, 2019, 12:23:27 PM by STT
 #127

Bitcoin might be of some help mitigating the worst effects, I've heard of people who long ago realized holding the plain cash was a losing game and switched to Bitcoin as dollar and many currencies are not available to them.     So to a limited extent its helped but it cannot revive the economy.
  To really help Venezuela get back it would be something simple as oil prices going back over 100.   I dont really believe in this as a solution exactly but there is no doubt it would help raise revenue and justify much more extraction of their heavy sour oil.   Obviously they need reform and to rebuild and that is unlikely with a military led government suppressing any natural activity, I believe the military are now involved in facilitating drug trafficking to fund themselves and are unwilling to allow any transition away from the control which allows that.

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September 17, 2019, 05:20:20 PM
 #128

To be honest with you, the information you read always appears a lot every day, apply crypto and bitcoin ATMs, launch bitcoin's ATMs somewhere but these stories really don't have a lot of convincing evidence, mostly appear for a short time and then people will forget it, these bitcoin ATMs are still operating until now or it has stopped working, it is a question without an answer. Therefore, do not rush to think that Venezuela is a suitable country to develop bitcoin, and bitcoin doesn't rebuild a country, it just builds assets for people who know how to use it
I agree with your opinion, but when a country installs a bitcoin atm, I think that the country supports its people to use bitcoin. because of that, I think it's appropriate to start developing Venezuelan thinking about cryptocurrency-based businesses, especially bitcoin.

this is just an estimate that I have in mind, but with that in mind, I am sure Venezuela can use bitcoin to their advantage whether it is individuals or groups, and that can make Venezuela a step ahead. although there are people who think that it is a small thing, but the change also starts in small things.

Gosh, even Venezuela now will have Bitcoin ATM.  They need it for sure. Last month, LocalBitcoins cryptocurrency exchange reached the highest volume of trade in the country in its history, and the inflation of the national currency reached crazy numbers - 10,000,000%. The rate of hyperinflation in Venezuela his really insane - no one country has such a catastrophy in the economics. Bitcoin can save people.
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September 17, 2019, 05:51:31 PM
 #129

according to the news that I read, a bitcoin-based ATM was installed in Venezuela on September 10 yesterday. this proves that Venezuela is one place that is suitable for the development of bitcoin.

Yeah, right!

I was curious to see where this ATMs is located and not to my surprise,

the ATM is 500 meters from the border, probably they will have time to pack it up and cross into Columbia till the police arrive if a raid will target it.  Grin
Sorry to burst your bubble but at this moment Venezuela is not a suitable ground for anything and I'm pretty sure even in this case, this ATM is being used more by smugglers than want to avoid border control rather than normal people

I agree with your opinion, but when a country installs a bitcoin atm, I think that the country supports its people to use bitcoin. because of that, I think it's appropriate to start developing Venezuelan thinking about cryptocurrency-based businesses, especially bitcoin.

Start realizing the difference between a company and a country, BMW doing something is not Germany doing the same, McDonald's is not representative for the US and neither is a panda for China. Furthermore, the company that installed that ATM is located and based in Colombia!
Again, sorry for another bubble!  Cheesy

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September 19, 2019, 10:05:56 PM
 #130

I have heard of the country’s economy basically collapsing, and the residents are making an effort to turn to cryptocurrency. Majority of the businesses in the country are accepting bitcoin as a means of payment which can make me conclude that yes, Venezuela is using Bitcoin to revive its economy. I think that this is generally a step towards economic success for Venezuela once the government fully embraces the technology.

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September 20, 2019, 03:25:48 PM
 #131

Bitcoin might be of some help mitigating the worst effects, I've heard of people who long ago realized holding the plain cash was a losing game and switched to Bitcoin as dollar and many currencies are not available to them.     So to a limited extent its helped but it cannot revive the economy.
  To really help Venezuela get back it would be something simple as oil prices going back over 100.   I dont really believe in this as a solution exactly but there is no doubt it would help raise revenue and justify much more extraction of their heavy sour oil.   Obviously they need reform and to rebuild and that is unlikely with a military led government suppressing any natural activity, I believe the military are now involved in facilitating drug trafficking to fund themselves and are unwilling to allow any transition away from the control which allows that.
I am not sure that the US even wants them to get solution, it is actually glaring that cryptocurrency would have a very big role to play in the life of a country positively, and maybe if Venezuela had adopted it ad succeed in even switching to their petro coin, probably they would have been free from the bondage of dollar and then their economy would be strengthened, but I heard that the president of America is planning to ban the Pedro coin, and the only reason they would do that is selfishness, because I guess they are using it to strengthen their own coin, and they don’t care if another country’s economy is collapsing or not.

If Venezuela can really succeeded in limiting their use of cash and then switching over to crypto, I am sure their economy would be a very great one.


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September 20, 2019, 11:23:11 PM
 #132

at the near future, BTC for venezula can be a solution, but for a long time I think there must be a change from their own country. because BTC requires adequate internet access and account services. what if the government doesn't support it? economic change cannot be comprehensive

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September 21, 2019, 04:12:20 AM
 #133

actually the problem of deflation is caused by people thinking that bitcoin does not make it.
As you can see, Litecoin has had a Halving event recently but its value has dropped significantly since that day, it's different from the previous halving.
Therefore, the market is only deciding the price of bitcoin, not deflation here!
If one day sharks didn't like bitcoin because it was too slow, they would discard it and the value would be zero. and you know what happens to bitcoin holders Wink

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September 21, 2019, 07:41:16 AM
 #134

The embargoes and sanctions are causing hardship in Venezuela. Unless these are removed, the economy won't recover. And I don't know how Bitcoin can become useful in such circumstances. The regime is unable to get foreign currency due to the sanctions. If they use Bitcoin to circumvent the sanctions, then I don't think that the Americans will just sit back and watch.

And from what I have heard, the regime has adopted a tolerant attitude towards those Venezuelans who continue to use crypto. They are not harassing the cryptocurrency users. Perhaps they believe that Bitcoin is safer when compared to the USD. The national currency is now worth less than the toilet paper and it won't see a revival even if they ban Bitcoin. 

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September 22, 2019, 10:49:27 AM
 #135

The question of cryptocurrency in Venezuela is very acute, since it is the cryptocurrency that Venezuelans have very high hopes to survive in the poverty in which the whole country is located.  The fact is that in this state the dollar is under a state ban, and with cryptocurrency there are great opportunities for work.  It's just that Bitcoin is not the most popular among the local population, namely, the Dash cryptocurrency is the most popular in Venezuela.  But if you compare Dash and Petro, then Dash will really be able to translate the expected dreams of Venezuelans into reality, and Petro, the currency that the Venezuelan government created, is almost a profanity, behind the scenes of which lies a fraud.

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September 28, 2019, 03:02:29 PM
 #136

Bitcoin might be of some help mitigating the worst effects, I've heard of people who long ago realized holding the plain cash was a losing game and switched to Bitcoin as dollar and many currencies are not available to them.     So to a limited extent its helped but it cannot revive the economy.
  To really help Venezuela get back it would be something simple as oil prices going back over 100.   I dont really believe in this as a solution exactly but there is no doubt it would help raise revenue and justify much more extraction of their heavy sour oil.   Obviously they need reform and to rebuild and that is unlikely with a military led government suppressing any natural activity, I believe the military are now involved in facilitating drug trafficking to fund themselves and are unwilling to allow any transition away from the control which allows that.

Not only BTC, but other cryptocurrencies help Venezuela. DASH successfully continues to expand its presence in the country, which is connected both with the weakness of the sovereign Bolivar, the rate of which is constantly falling exponentially, and with the lack of other financial alternatives for the country's population - the “oil-backed” cryptocurrency El Petro still exists only in the president’s imagination and individual members of the government.

 
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September 29, 2019, 05:58:52 AM
 #137

The independent solution of Venezuela, the only one I have seen is through Bitcoin Market. Now it only depends on them, if they know how to do it, they will overcome the crisis and all their problems almost by magic, but I clarify "If they know how to do it", otherwise, most likely given their ways of doing things, it is very feasible They don't handle it well and fail, unless they switch to financial advisors and hire experts. It is the only possible opportunity they have, there is no other, well, except that all rulers abandon and generate the hard step from communism to capitalism in a radical way.

 
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September 29, 2019, 03:42:08 PM
 #138

Venezuela has very big problems, which have very deep roots. The fact that he has potrolio makes him interested in the eyes of speculators, and combining currency will certainly not help economic development.

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September 29, 2019, 04:23:29 PM
 #139

Bitcoin will not help with rebuilding while the current regime is in power, the currency is not the problem but the politics are.
BTC is just helping citizens with access to it to cope with the negative effects of this current regime .

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September 29, 2019, 04:40:03 PM
 #140

according to the news that I read, a bitcoin-based ATM was installed in Venezuela on September 10 yesterday. this proves that Venezuela is one place that is suitable for the development of bitcoin. This will facilitate the use of bitcoin, bitcoin cash, and dash on Venezuela. for more information about this, you can read in https://cointelegraph.com/news/after-multiple-false-starts-venezuela-may-have-its-first-bitcoin-atm

How is Venezuela suitable for developing the ecosystem?
Venezuelans do not have a lot of mine to buy amounts of bitcoin... They search for food in garbage bins.
If you want to develop the ecosystem you should bring a developed country to bitcoin embrace. Otherwise, nothing is going to happen and the condition will be stagnant.
This, while Venezuela could benefit from bitcoin the truth is that they have more serious problems to think about, the first one is that no matter what they do until they find a way for those at the top to give up their power then no measure is going to be effective in order to reconstruct their country, besides bitcoin is not ready for a country to fully adopt it so Venezuela will be better off by backing their currency with gold or silver or even better they could make gold and silver their official currencies.

 
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