Venezuelan can now renew their Passport with Bitcoin as payment.

[posi]

Venezuelan citizens who are abroad can reportedly use Bitcoin to pay for passport services.

According to BTC transaction images posted on Twitter by Ronny Martinez, an engineer who hosts an academic YouTube channel, the Venezuelan government is allowing Bitcoin as a payment option for passport renewals and extensions via its online immigration platform SAIME (Administrative Service for Identification, Migration and Foreigners).

Source

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[AmoreJaz]

another day, another adoption.
of course, this kind of development is always welcome. it would attract their citizens who are noncrypto users to look at this option and maybe learn about crypto along the process. we need more of this kind of service. also it means their government is fully trusting bitcoin. if some of their constituents are still in doubt about crypto, they may change their stance on how they perceive it.

[dunfida]

another day, another adoption.
of course, this kind of development is always welcome. it would attract their citizens who are noncrypto users to look at this option and maybe learn about crypto along the process. we need more of this kind of service. also it means their government is fully trusting bitcoin. if some of their constituents are still in doubt about crypto, they may change their stance on how they perceive it.

Its a good news indeed and this thing shows that it is really possible to integrate bitcoin payments into these kind of service which would really ease the hassle.
Adoption is always on the move and we would really see in future years to come for other business,services to consider on making btc as a form of payment.
It might not be on all aspect but it would be nice if majority or big percentage will consider it out. This is a big convenience for all bitcoin users in Venezuela.

[Kelvinid]

Then it is to come the moment especially when contactless transactions are the new normal and most of it is made online transactions, it is a time where people will adopt the system and possible use of Bitcoin. Now that the Venezuelan government leaders are allowing it to use, it soon to be more adaptable into their country and most probably this could help to uplift the demand.

I foresaw a huge demand in crypto particularly for Bitcoin if this pandemic will stay longer. It can be more countries and companies will accept it as they rely into online transactions.

[Sadlife]

Venezuela is one of the few examples that Bitcoin can be viable for businesses and can be use for micro and macro transactions that can be regulated by Governments and Country's. The moment the financial markets gets worse with the continous printing of money we might see the current monetary system will be the same as Venezuela or Zimbabwe.

[NotATether]

It's good to see Venezuela embracing bitcoin after their disastrous Petro dollar initiative. I hope they learned a thing or two about encouraging citizens to use bitcoin, especially since they have a crumbling economy.

Although the article says it not confirmed whether SAIME will accept bitcoin payments so it's better to hold off the congratulatory remarks until we see a confirmation from their end.

[nicecrypto]

This is really great news because more use of btc means more adoption and more acceptance, this country is very crypto friendly so I believe this initiative will happen, this can also lead to more businesses and organizations accepting btc as well, soon other countries will also want to adopt the use of btc in some of their businesses.

[Darker45]

It is amusing how the Bitcoin payment option is offered to clients prior to credit card payment options.

However, I have a little confusion as to this:

Dear user, you selected payment with cryptocurrencies. Please keep in mind that you will only have 8 minutes to complete the transaction...

Does "complete the transaction" include payment confirmation? If it does, then this might be a concern since Bitcoin confirmation may actually exceed such limit at times.

Anyhow, the hyperinflation still happening in Venezuela really pushes for Bitcoin adoption there.

[witcher_sense]

However, I have a little confusion as to this:

Dear user, you selected payment with cryptocurrencies. Please keep in mind that you will only have 8 minutes to complete the transaction...

Does "complete the transaction" include payment confirmation? If it does, then this might be a concern since Bitcoin confirmation may actually exceed such limit at times.

It depends on the amount you have to pay for passport services. If there is a small amount, than it is okay to accept a payment with 0 confirmations. I am assuming that purchasing power of bolivar is decreasing too fast, that is why users have to pay as quickly as possible. The faster you pay, the more bitcoins they recieve. That is a good option for a service to mitigate risks of hyperinflation, they use bitcoin as a store of value in the first place, definitely not as a means of exchange. We are still far from that status of bitcoin. However, that is a promising sign for bitcoin since some governments have started considering bitcoin at least as an approach to save wealth.

[maydna]

Finally, one of the government company used bitcoin as the payment option. That is good news for every Venezuela people, especially for people who already knew bitcoin and used bitcoin. Soon, another government company will try this way too, and slowly the adoption process will grow in that country. If more countries can use bitcoin as Venezuela, it could bring new adopters from many countries, which means we will see the increasing number of people who use bitcoin.

It could attract people in that country to use to try to use bitcoin. Perhaps, that can make bitcoin popular in Venezuela.

Does "complete the transaction" include payment confirmation? If it does, then this might be a concern since Bitcoin confirmation may actually exceed such limit at times.

I think they can process the next step after the transaction gets 1-2 confirmation, so the officers and the people will not have to wait for a long time to complete the renewals and extensions process.

[Oasisman]

This only means one major thing, the Venezuelan government embraces Bitcoin as a legal currency to use in their country, though their civil registry hasn't fully accept Bitcoin, but I they will, sooner. This will make other governments from different countries very envious, thus will conduct research on what elements could Bitcoin contribute to a country's economic development.
Nevertheless, this will be a better way for massive adoption.
And it's very evident;

Bitcoin transaction volume in Venezuela on peer-to-peer crypto exchange LocalBitcoins has continued to soar, reaching an all-time high for the week ending June 6th with 997.7 billion bolivar.

[Lorence.xD]

This is really great news because more use of btc means more adoption and more acceptance, this country is very crypto friendly so I believe this initiative will happen, this can also lead to more businesses and organizations accepting btc as well, soon other countries will also want to adopt the use of btc in some of their businesses.

One of the few wonders of bitcoin, the good thing about this is that the payment for this is very helpful in their economic recovery because this will help in making an injection to their collapsed finances, I really that the Venezuelans get what they deserve, they are suffering because of the decisions of their government, they deserve better and I hope that bitcoin will be of big help in sustaining their country.

[bitbunnny]

It's a good initative, especialy because it comes from government. I don't know how much will that contribute to adoption of Bitcoin in Venezuela but it could be considered as a kind of progress.
However, the question is how many citizens will actually use possibility to pay for document with Bitcoin. If the overal number will be small the government might come to conclusion that this feature isn't necessary.

[KrisAlex18]

That's great news, it seems like bitcoin is being prominent as of this day. We have now many many payment transactions that accept bitcoin, well, there will be always an adoption for everything on bitcoin. Maybe soon we can use bitcoin for every transaction we have in our daily lives. It would be great if this thing would be implemented in other countries. It would make people more popular and known by many people, therefore there would be many users of the bitcoin which may result in good movement of the price of the other assets as well.
Bitcoin is really great an online transaction, itis good for safe and fast transactions.

another day, another adoption.
of course, this kind of development is always welcome. it would attract their citizens who are non-crypto users to look at this option and maybe learn about crypto along the process. we need more of this kind of service. also, it means their government is fully trusting bitcoin. if some of their constituents are still in doubt about crypto, they may change their stance on how they perceive it.

That would be an impact of this news. There would be many people who will use bitcoin because of this thing. The government is really good because they know the benefits of using this kind of cryptocurrency.

[plvbob0070]

One of the cases that we can actually see what bitcoin can really do in a community. Because of what happened in Venezuela and the ongoing hyperinflation, bitcoin becomes a good alternative for the citizens, and now the government is also trying to test the ability of bitcoin. Others might have not seen the importance of bitcoin before but during hyperinflation in their country, they have realized what bitcoin can do.

We have been hearing news about bitcoin acceptance in Venezuela, from individuals to businesses adopting crypto and bitcoin, no wonder why the government is also doing this. If this becomes successful, I guess this will also help other countries to recognize bitcoin and might as well try to adopt this innovation in the future.

[crwth]

So this means that their government is ultimately supporting cryptocurrency payments, And you could also say that they support Cryptocurrency in general. Hopefully, if this results in getting more people involved, I hope that every country would accept this type of payment for any kind of transaction.

For different countries watching the Venezuelan government, it’s the start for sure.

[stompix]

However, I have a little confusion as to this:

Dear user, you selected payment with cryptocurrencies. Please keep in mind that you will only have 8 minutes to complete the transaction...

Does "complete the transaction" include payment confirmation? If it does, then this might be a concern since Bitcoin confirmation may actually exceed such limit at times.
Anyhow, the hyperinflation still happening in Venezuela really pushes for Bitcoin adoption there.

This is what most payment processors do, they offer a time window in which you must create the transaction, it doesn't have to be confirmed, it just helps them do their balances as the moment the transaction is broadcast they are already selling a similar value of coins on the market to avoid losing $ from price fluctuations. With evey store I bought it was the same, just create the tx in a matter of 5 to 10 minutes and then wait, I had a a tx that didn't cofirmed for 8 hours but the moment it did I recieved imediatly the mail from the sotre that the purchase has been completed.

Besides, it might actually be impossible to get a confirmation in the next 8 minutes, for example just 4 blocks before (as I'm writing this) the time between block 636255 and 636256 was 35 minutes.

[CoinFoxs]

Indeed, its a very good initiative as now government is considering bitcoins as a payment option which will lead to massive btc adoption. I hope in near future there will be other platforms which will consider bitcoin as a form of making payments in exchange with goods or services. It is evident now that Venezuelan government is accepting bitcoins as a legal currency, now people will feel more safe and secure about cryptocurrencies.

[dentolas]

This is really nice as it represents trust on BTC from the venezuelan government... so if your government accepts payments in BTC, why wouldn't you? and this will also get a lot of people looking at this payment option and maybe learning about BTC and how to buy it...
Really good also because if the Venezuelan government adopts BTC as currency, we may be watching the beginning of a use case that we have all discussed about and never seen live, the economic recovery of a country with the help of BTC

[Lucius]

Venezuela is just looking for new ways to ease the sanctions imposed on them by the United States for more than a decade. Bitcoin is something that can help them do that, but the question is how many people in Venezuela actually have anything to do with Bitcoin. Weekly volume on their LocalBitcoins is just over 500 BTC, which is very modest for a country with almost 28.5 million inhabitants.

Bitcoin just can't solve their economic crisis, and the fact is that the average resident of that country can't afford to invest in BTC with a monthly salary of less than $10.