BTC is helping out Cubans and Venezuelans

[Hispo]

Nowadays, the situation is a  bit less dramatic, thanks to the adoption of USD and to a lesser extent Crypto.

The transition to the American dollar, as a temporary measure, is the most logical move for this situation. Simple, understandable, and really predictable for ordinary people, and this is very important. And the most important thing is stability, as long as the dollar is the blood of the world economy, nothing bad is guaranteed to happen to it, and everywhere it will be welcome as a means of payment

The interesting thing is that the adoption happened because the people started to slowly switch to it after the government made legal to carry foreign currency in 2018, before it was not legal to have USD in cash. All this it is rather an improvised thing, because the administration is not paying in dollars to public workers, private employers do, though.

And what - now the state pays social benefits, salaries, and so on in bitcoin? By the way, why is the dollar not suitable, which can be freely received, changed, used for payment? At the same time, there are no losses on transactions, no difficulties in use?

No. The state continues paying all that with local currency.
I meant we adopted USD in an informal way, nowadays USD in cash is used for many daily transaction in businesses like supermarkets, malls, etc. The only difficulty we have find while using USD in cash is the change, we dont have coins here of USD and bills of 1$-5$ are uncommon, so if you need to pay 5$ with a 20$ bill you may have trouble if the shopkeeper does not have change.

People have opted to spend the whole bill at the shop or receive the change in local currency through a quick bank transference.

Well, we came to the conclusion that the use of stable currencies is a completely suitable and simple solution for all segments of the population. The only "problem" is the problem with the bargaining chip in order to give change. It seems to me that this is not critical, well, at least in the current situation. But payment with bitcoin is a technologically more complicated solution, for some part of society it is not available. The ambiguous price of bitcoin - here the bitcoin holder can both receive additional income and an uncontrollable decrease in his savings. Transaction Fee - It's not going anywhere. If the buyer does not pay for the transaction itself, most likely it is already included in the cost of the product. The question is why all this hype and almost hysteria with shouts of "Bitcoin will save the economy!" ?

The adoption of USD has indeed help us to fight inflation but does not do much in terms of helping to keep the minimum salary as a fair retribution or one's services, since the government is not willing to fix the problem they have with public workforce.

On the other hand, the enthusiam and hype you may have heard about Bitcoin and other crypto-assest in a country like mine or others like Argentina, Cuba, ect, it is due to our people has been lived through rather an authoritarian control over the economy in order to meet political agendas and things like that.

It is not the same to live in a country of Europe or in the USA and discover the advantages of Bitcoin, to live in an economically represed country like mine, where many things you take for granted: things like stable currency, credit cards, payment processors like paypal, ect are not available or are more difficult to access to.

In my personal point of view, Bitcoin it is not about saving a whole country, but rather protect those who give it a try from authoritarism and reckless economical measures taken by those in power.

Living economically oppressed and then discover, learn about Bitcoin and experiment how It slowly changes one's quality of life (in term of financial management) it is something that make our people to become really excited, there is where part of the hype comes from, and I understand it.

[DrBeer]

....
The adoption of USD has indeed help us to fight inflation but does not do much in terms of helping to keep the minimum salary as a fair retribution or one's services, since the government is not willing to fix the problem they have with public workforce.

On the other hand, the enthusiam and hype you may have heard about Bitcoin and other crypto-assest in a country like mine or others like Argentina, Cuba, ect, it is due to our people has been lived through rather an authoritarian control over the economy in order to meet political agendas and things like that.

It is not the same to live in a country of Europe or in the USA and discover the advantages of Bitcoin, to live in an economically represed country like mine, where many things you take for granted: things like stable currency, credit cards, payment processors like paypal, ect are not available or are more difficult to access to.

In my personal point of view, Bitcoin it is not about saving a whole country, but rather protect those who give it a try from authoritarism and reckless economical measures taken by those in power.

Living economically oppressed and then discover, learn about Bitcoin and experiment how It slowly changes one's quality of life (in term of financial management) it is something that make our people to become really excited, there is where part of the hype comes from, and I understand it.

I agree that cryptocurrency for your countries is a chance to potentially change your life. But you need to understand that even though the general trend of bitcoin in recent years is the growth of its price, it also has drawdowns .. And in general it is a purely speculative instrument. This must be remembered and must be taken into account. I am sure that with the right approach, many people will be able, even if not to become millionaires, but to raise their standard of living!

[Hispo]

...

I agree that cryptocurrency for your countries is a chance to potentially change your life. But you need to understand that even though the general trend of bitcoin in recent years is the growth of its price, it also has drawdowns .. And in general it is a purely speculative instrument. This must be remembered and must be taken into account. I am sure that with the right approach, many people will be able, even if not to become millionaires, but to raise their standard of living!

I am very aware that Bitcoin and other crypto-currencies are mostly speculative tools and may lead to gains and losses. I am not only interested on getting some future yields on savings, I am also interested how this technology has introduced a new way to use financial instruments and the self-custody of assets, that is very important to me in a personal way, since I trust myself more than I trust my government and its institutions.

If you ever have any other question about Venezuela, feel free to ask.  

[Sithara007]

I am very aware that Bitcoin and other crypto-currencies are mostly speculative tools and may lead to gains and losses. I am not only interested on getting some future yields on savings, I am also interested how this technology has introduced a new way to use financial instruments and the self-custody of assets, that is very important to me in a personal way, since I trust myself more than I trust my government and its institutions.

If you ever have any other question about Venezuela, feel free to ask.  

The bolded part is true not just for Venezuela, but for countries around the world. We can't trust any of the current governments, after what happened in Cyprus. They will print banknotes like crazy, loan unlimited amounts of money and when they need to repay those loans they will start confiscating our assets. And this is not something that is limited to socialist countries like Venezuela and Cuba. Nowadays a lot of the governments are leaning towards socialist policies and such occurrences (Cyprus bank deposit haircut) may be more common.

[DrBeer]

...

I agree that cryptocurrency for your countries is a chance to potentially change your life. But you need to understand that even though the general trend of bitcoin in recent years is the growth of its price, it also has drawdowns .. And in general it is a purely speculative instrument. This must be remembered and must be taken into account. I am sure that with the right approach, many people will be able, even if not to become millionaires, but to raise their standard of living!

I am very aware that Bitcoin and other crypto-currencies are mostly speculative tools and may lead to gains and losses. I am not only interested on getting some future yields on savings, I am also interested how this technology has introduced a new way to use financial instruments and the self-custody of assets, that is very important to me in a personal way, since I trust myself more than I trust my government and its institutions.

If you ever have any other question about Venezuela, feel free to ask.  

Yes, mistrust of the government, the system, the banking system - the reasons that really push the population to look for alternative solutions to save and increase their wealth. Previously, people, for such purposes, buried their savings in treasures, now they buy bitcoin ...
In my country (Ukraine), there was also a slightly similar period. The rulers are thieves, the collapse of the economy, the degradation of the country .... Money became cheaper at a wild rate. But then we were saved by saving savings in dollars or German marks (then there was no EU and Euro).

PS Thank you for the opportunity to learn about your country first-hand. Unfortunately, we have only fragmentary information about Venezuela ... the country has enough of its own problems. If you have questions about Ukraine, I'm ready to answer

[Hispo]

I am very aware that Bitcoin and other crypto-currencies are mostly speculative tools and may lead to gains and losses. I am not only interested on getting some future yields on savings, I am also interested how this technology has introduced a new way to use financial instruments and the self-custody of assets, that is very important to me in a personal way, since I trust myself more than I trust my government and its institutions.

If you ever have any other question about Venezuela, feel free to ask.  

The bolded part is true not just for Venezuela, but for countries around the world. We can't trust any of the current governments, after what happened in Cyprus. They will print banknotes like crazy, loan unlimited amounts of money and when they need to repay those loans they will start confiscating our assets. And this is not something that is limited to socialist countries like Venezuela and Cuba. Nowadays a lot of the governments are leaning towards socialist policies and such occurrences (Cyprus bank deposit haircut) may be more common.

I am aware that there is not only lack of trust here in my country otherwise, Bitcoin would not be as popular as it is. However, the mainstream thought here among people who do not much about foreign politics/economics it is that USD and gold are the most stable and useful assets to have your money in. There still trust in the USD here since it is the conventional course of action to people who have no knowledge about crypto for now and don't know how to buy stock or equities. To be honest, I used to think the same way as I no-coiner.

The social security tradionally is also very different here, in USA and other countries, people invest to earn for retirement. Here people used to simply save, obviously that backfired with the inflation, now the elderly depend on their sons and grand-sons to survive.

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Yes, mistrust of the government, the system, the banking system - the reasons that really push the population to look for alternative solutions to save and increase their wealth. Previously, people, for such purposes, buried their savings in treasures, now they buy bitcoin ...
In my country (Ukraine), there was also a slightly similar period. The rulers are thieves, the collapse of the economy, the degradation of the country .... Money became cheaper at a wild rate. But then we were saved by saving savings in dollars or German marks (then there was no EU and Euro).

PS Thank you for the opportunity to learn about your country first-hand. Unfortunately, we have only fragmentary information about Venezuela ... the country has enough of its own problems. If you have questions about Ukraine, I'm ready to answer

I have heard a bit about some corruption in Ukraine in the past, I remember the massive protests back in 2014 and things like that.
I also remember the whole situation with Russia and Crimea, but I have not tracked more news about it,  have the NATO helped you to keep the control of that area?

[DrBeer]

I have heard a bit about some corruption in Ukraine in the past, I remember the massive protests back in 2014 and things like that.
I also remember the whole situation with Russia and Crimea, but I have not tracked more news about it,  have the NATO helped you to keep the control of that area?

1. Corruption in Ukraine has not disappeared anywhere... Moreover, with the new president and his team, corruption flourished with renewed vigor. Nothing, one thief was driven out of the country and the other will be sent to hell
2. NATO does not solve such problems if it is not a NATO country. Ukraine was just planning to become at least an associate member of NATO, but ... did not have time ...
While the United States and its partners are still fighting terror - Russia, the EU, as a rule, only "expresses concern," and sluggishly extends the sanctions out of the shadow of the United States' cannon. And here, unfortunately, the country will not be helped by such a decision as the adoption of bitcoin as a means of payment, unfortunately, only military confrontation and victory will help us ... Another option is loss and, in fact, the destruction of Ukraine.
But what is good - the United States has activated a program of technical support for the armed forces of Ukraine, equipment, technology, training, experience, and finance. Many thanks to them for this! This greatly increases the option of a positive solution to the problem, because the Russian army is only advertised as "great and mighty." They never risked fighting a less powerful rival, ready to defend themselves. All of their "victorious" wars are a war against the small and weak, against the civilian population and those countries where there is guaranteed no more or less normal army. A vile country, deceitful, cowardly. By the way, therefore, I really hope that Cuba and Venezuela will not continue close relations with the Russian Federation, they traditionally help totalitarian rulers and help them destroy the local population that does not agree with the antihuman government...

[Hispo]

I have heard a bit about some corruption in Ukraine in the past, I remember the massive protests back in 2014 and things like that.
I also remember the whole situation with Russia and Crimea, but I have not tracked more news about it,  have the NATO helped you to keep the control of that area?

By the way, therefore, I really hope that Cuba and Venezuela will not continue close relations with the Russian Federation, they traditionally help totalitarian rulers and help them destroy the local population that does not agree with the antihuman government...

I am afraid we stepped into the Chinese-Russian debt trap, and Russian mostly has strong ties with my government to have influence within the American continent. It is well-known we have already housed some Russian military here in the past for some time, not much.

Also, I did not know Russia intended the complete destruction of Ukraine, I thought they wanted to take over Crimea to have more access to non-frozen waters.

[DrBeer]

I have heard a bit about some corruption in Ukraine in the past, I remember the massive protests back in 2014 and things like that.
I also remember the whole situation with Russia and Crimea, but I have not tracked more news about it,  have the NATO helped you to keep the control of that area?

By the way, therefore, I really hope that Cuba and Venezuela will not continue close relations with the Russian Federation, they traditionally help totalitarian rulers and help them destroy the local population that does not agree with the antihuman government...

I am afraid we stepped into the Chinese-Russian debt trap, and Russian mostly has strong ties with my government to have influence within the American continent. It is well-known we have already housed some Russian military here in the past for some time, not much.

Also, I did not know Russia intended the complete destruction of Ukraine, I thought they wanted to take over Crimea to have more access to non-frozen waters.

The fact that Russia loves to send its terrorist troops to other countries, under the guise of assistance, and then either protect the bastard tyrant rulers, or help arrange a coup and seize power, to help the same terrorist rulers.

Regarding Crimea, this is a peninsula that Ukraine revived by supplying it with part of the water from the Dnieper River. Crimea came to life precisely after it was transferred from the RSFSR (a republic in the USSR, today's Russia), to Ukraine (then the Ukrainian SSR, part of the USSR), since the RSFSR could not create anything there, nor could they establish the life and work of people. It was Ukraine that gave the start to the development of Crimea. When Russia occupied and annexed Crimea, Ukraine blocked the Dnieper canal. And now the key problem of Crimea is the lack of fresh water! There was not and there is not enough fresh water on the peninsula, it was always given from its reserves by Ukraine ... Now Russia is destroying the Crimea, a storm of wells, and this is absolutely impossible to do because the process of salinization of the earth begins, this process is almost irreversible, this will kill the earth and make it sterile for many hundreds of years ... Therefore, I will say again, the recommendation is to fight away from Russia and your country will have fewer problems ...

[LUCKMCFLY]

It is necessary to emphasize that all this problem is only for particular economies, when we speak of government, bank and entities that are completely "plugged in" to the government, they do not have economic problems, because dollars are the main asset for them, they have so much that they do not know how to store it or how they can handle it.

The BTC for many if it helps them to solve mainly the basic problems, these are: Food, medicine ... Services are not so expensive, but they are beginning to raise prices, which is not such a good thing, this having keep in mind that wages and salaries are still in Bs, but with a fully dollarized economy, where the jobs that must be done to survive demand the maximum capacity of the people.

[Hispo]

I have heard a bit about some corruption in Ukraine in the past, I remember the massive protests back in 2014 and things like that.
I also remember the whole situation with Russia and Crimea, but I have not tracked more news about it,  have the NATO helped you to keep the control of that area?

By the way, therefore, I really hope that Cuba and Venezuela will not continue close relations with the Russian Federation, they traditionally help totalitarian rulers and help them destroy the local population that does not agree with the antihuman government...

I am afraid we stepped into the Chinese-Russian debt trap, and Russian mostly has strong ties with my government to have influence within the American continent. It is well-known we have already housed some Russian military here in the past for some time, not much.

Also, I did not know Russia intended the complete destruction of Ukraine, I thought they wanted to take over Crimea to have more access to non-frozen waters.

Therefore, I will say again, the recommendation is to fight away from Russia and your country will have fewer problems ...

Dont you think Russia it is quite powerfull and big to fight off one's territory so easily?
Fortunately we are not into a direct conflict against them like you are, that must be quite rough to deal with.

It is necessary to emphasize that all this problem is only for particular economies, when we speak of government, bank and entities that are completely "plugged in" to the government, they do not have economic problems, because dollars are the main asset for them, they have so much that they do not know how to store it or how they can handle it.

The BTC for many if it helps them to solve mainly the basic problems, these are: Food, medicine ... Services are not so expensive, but they are beginning to raise prices, which is not such a good thing, this having keep in mind that wages and salaries are still in Bs, but with a fully dollarized economy, where the jobs that must be done to survive demand the maximum capacity of the people.

It is obvious the administration is not willing to dollarize the salaries of the public workers, on the other hand, there are already private businesses paying a dollarized salary to their workers, not the best salary, but it is better than being a public worker.

[LUCKMCFLY]

It is obvious the administration is not willing to dollarize the salaries of the public workers, on the other hand, there are already private businesses paying a dollarized salary to their workers, not the best salary, but it is better than being a public worker.

Yes, but the must be is that if the government is placing all the requirements to do any management in USD, the most logical thing is that they pay in USD.

They are already going to do a pilot test in the State of Táchira through Banco Bicentenario to have an account in Colombian Pesos (COP). they are doing imagine to win votes for December, always these strategies are used by politicians to create emotion in the people. That is what they announced through a well-known politician who is supported by the national government, the idea is not bad, but they should do it with all banks and impose currencies such as COP, USD, EUR, and that everyone has access to the same currencies and the respective payment in them.

[Hispo]

-snip-

Yes, but the must be is that if the government is placing all the requirements to do any management in USD, the most logical thing is that they pay in USD.

Yes, but unfortunately this administration has proven to lack of logical and common sense in the past.
They are trying to adapt the banking system so the people who are making money through private businesses or working for private businesses will feel confident enough to deposit cash, among other things.

They are already going to do a pilot test in the State of Táchira through Banco Bicentenario to have an account in Colombian Pesos (COP). they are doing imagine to win votes for December, always these strategies are used by politicians to create emotion in the people. That is what they announced through a well-known politician who is supported by the national government, the idea is not bad, but they should do it with all banks and impose currencies such as COP, USD, EUR, and that everyone has access to the same currencies and the respective payment in them.

It is a fact most of the banks here are moving forward to include foreign currencies on their platforms, however, that does nor mean the government will pay in such currencies the wages of public workers. Those options are meant for people who have access to USD, COP, EUR in before, in my opinion.

[Sithara007]

It is a fact most of the banks here are moving forward to include foreign currencies on their platforms, however, that does nor mean the government will pay in such currencies the wages of public workers. Those options are meant for people who have access to USD, COP, EUR in before, in my opinion.

The Venezuelan forex reserves have almost run dry and it will be impossible for the government to pay the employees in foreign currency. And despite the crude oil prices going up, I haven't noticed any significant improvement to this situation. Now the banks are allowing foreign currencies in their platform, because they don't want the unregulated market to take advantage of the situation. Ideally they should be accepting cryptocurrency as well, because the number of users (as far as I know) is in millions.

[Hispo]

It is a fact most of the banks here are moving forward to include foreign currencies on their platforms, however, that does nor mean the government will pay in such currencies the wages of public workers. Those options are meant for people who have access to USD, COP, EUR in before, in my opinion.

The Venezuelan forex reserves have almost run dry and it will be impossible for the government to pay the employees in foreign currency. And despite the crude oil prices going up, I haven't noticed any significant improvement to this situation.

They have no intentions to pay woth actual currency even if they had a way to do so.
I speculate they may be expecting many people to quit their bad-paid jobs, so they can make those industries more atractive for future investors /buyers.

Now the banks are allowing foreign currencies in their platform, because they don't want the unregulated market to take advantage of the situation.
Ideally they should be accepting cryptocurrency as well, because the number of users (as far as I know) is in millions.

True, they also want to take advantage of the already chaotic situation they supposedly tired to avoid during all these years, by bad-mouthing the USD.

Ideally they should be accepting cryptocurrency as well, because the number of users (as far as I know) is in millions.

It would not be wise to trust them crypto, at all.
any hardware wallet would be safer that handing over any satoshi to such incompetent politicians/banks.

[DrBeer]

Dont you think Russia it is quite powerfull and big to fight off one's territory so easily?
Fortunately we are not into a direct conflict against them like you are, that must be quite rough to deal with.

Do you seriously think so ??
Alas ... I have to disappoint you ...
1. Let's start simple. Big or great. Yes, geometrically - Russia is the largest country on our planet. But there is a small nuance. The real area suitable for the systematic residence of people (this is not only to put a building, but also infrastructure, industry, agricultural land, etc.), this is only (sit on a chair and hold on) 20% (TWENTY PERCENT of the total area) !!!!
2. Population. Officially, it is now talking about about 140 million people. But in reality - since 2010 the population census has not been translated. Why? I will not say. But for some reason, by this time (2010), the indicators of the quality of life in the Russian Federation slipped to the bottom - low fertility, high mortality, high growth rates of tuberculosis, AIDS, sexually transmitted diseases, alcoholism and drug addiction ... Most likely, like any totalitarian regime, Russia is such they try to hide information. It can be assumed that the real population is 80-90 million, only 2.5-3 times more than Ukraine
3. Army. I won't tell you a lot, just a few facts from reality. Russian weapons look good in advertising brochures, corrupt deals and propaganda cartoons! 2020-2021 - Russia is among the leaders of the military-industrial complex, sliding down. The destruction of corruption schemes and "controlled" governments has dramatically reduced the volume of arms sales. The failures of the vaunted S400 and similar systems in Syria, Libya, Azerbaijan - showed the true face of "a weapon that has no analogues in the world." It turned out it didn't work. It does not deliver the claimed effectiveness and does not fulfill its objectives. The poor quality of avionics and the production cycle put an end to the joint project with India in the development of a 5th generation fighter, which, by the way, has not yet entered the Russian army. Regular accidents with military aircraft in Russia are all a consequence of the expiration of Soviet equipment. Everything that was done later in the Russian Federation does not work as planned. Even strategic troops are experiencing constant problems with attempts to productively exploit new copies of nuclear weapons.
Well, a few words about the army as a whole. I probably would also consider her "strong" if I were not living in the country, and did not personally observe how these losers tried to "easily reach Kiev, in 2 days" , full-fledged units, with the latest weapons, ended in complete failure .. Despite the fact that in Ukraine in 2014-2015 there was almost no combat-ready army ("merit" of the fled traitor president), even volunteer battalions were enough to first stop the offensive of the "strongest army ", and then return a significant part of the captured territory. After that, hysteria began in Russia, all these Minsk agreements, which in fact stopped the liberation operation of the Ukrainian land from terrorists.
That is why now Russia is actively using local terrorists as cannon fodder, trying to slightly reduce the flow of coffins from Ukraine to Russia.
Yes, if this is not enough - just remember, but do you remember that over the past 30 years, the Russian army fought with someone who had at least a little bit of strength? Let me remind you against whom the "great army" fought - Moldova, Georgia, Ichkeria, Ukraine, civilians of Libya and Syria. But, for example, when Turkey calmly shot down Russian planes, Russia silently swallowed everything and kept silent. She didn't answer. When Azerbaijan and Turkey liberated the Azerbaijani lands from the Armenian-Russian aggression, Russia was silent and was afraid to utter a word so that only Turkey would not take more harsh measures.
In a word - read less, listen, watch the propaganda of the Kremlin storytellers, the reality is not the same as they say!

[LUCKMCFLY]

Well, according to how the panorama is in each country, it is obvious that you must live in the countries in question to be able to express an opinion of weight, it is not the same to repeat what the media say, which is not that they tell lies, but it is necessary to recognize that if there is a degree of manipulation and that they only say what they want to be known.For this reason, it is necessary to emphasize that it is complicated from the economic point of view of each country that they have a culture that adheres to the communist and the socialist, that in reality everything tends to communism, socialism in reality for these nations is just a disguise.

[Hispo]

Dont you think Russia it is quite powerfull and big to fight off one's territory so easily?
Fortunately we are not into a direct conflict against them like you are, that must be quite rough to deal with.

-snip-

I was aware that Russian pòpulation was not uniformely distributed over the Russian federation, there is a lot of the country which is basically un-habited and vulnerable. I was also aware of the problems concerning drugs, alcohol and very very bad car driving (Russian cars accident videos on YT are legendary).

However, I must admit, that many of the things you ahave exposed to me are knew. I have always looked to Russia as a big country, with a lot of energetic resources, nuclear weapons and somehow still dealing with corruption in many levels.

The geo-political details you mentioned about the Russian reaction to direct aggresion suggest that they are aware of their weaknesses and wish not to engage directly for now in major conflicts, I assume they may plan to strangle their European rivals using Russian gas dependence in the future (Nordstream 2).

Also, all this reminds me back in the day when economical sanctions against Russian Economy were quite a headache to the Kremlin.

...socialism in reality for these nations is just a disguise.

As far as I am was aware, theorically socialism is a previous step towards communism (which is the ultimate objective to reach according to Marx).
Personally, I supect many of people who call themselves "socialist" nowadays do not even know what it is.

[DrBeer]

....

The problem of Russia is that they decided that everything is allowed to them and they are inviolable, and the fact that they were like the USSR, with a degrading raw materials economy, and remained. And the scenario of the sanctions-a complete collapse of the economy-disintegration into parts, is likely to be implemented with modern Russia. Of course , it will not be tomorrow, but in the future 10-15 years, it may very well be ...

And about socialism. I have already said that the very idea of ​​socialism is not bad. But it is not self-sufficient due to the lack of a high-quality economic model. Therefore, some Western countries, crossing capitalism and socialism, got a very interesting version.

But the model of "Soviet socialism" is a pitiful semblance of the above. Plus, it was necessarily accompanied by terror, violence and lack of moral values. We could observe such socialism in the USSR, Cuba, and some other countries where, after the collapse of the USSR, they did not begin to build a normal community.

[FanEagle]

I’ve always wondered ways that people believed people cryptocurrency can be of help to countries like this that are in poverty, and the only thing I can figure out is that it can only assist them in ways of transactions. Apart from being used for transaction, I don’t really see any other means.

So, people in Cuban or Venezuela that have families in the EU and US or any part of the world can now be able to receive money from their families abroad easily without having any hindrances at all. So, it is so good that they have such a technology at their reach. Why most of them will prefer Bitcoin as a means of transaction is the fact that the fees they will have to pay for it is cheap and also it takes just few minutes for you to send and receive it, unlike banks where you will have to wait for days before the money will arrive.