[2014-10-08] Reuters - Venezuelans turn to bitcoins

[No_2]

Tech-savvy Venezuelans looking to bypass dysfunctional economic controls are turning to the bitcoin virtual currency to obtain dollars, make Internet purchases -- and launch a little subversion.

[...]

Due to currency controls introduced by late president Hugo Chavez a decade ago, acquiring hard currency now means either requesting it from the state, which struggles to satisfy demand, or tapping a shadowy black market. Even small dollar transactions are out of the question for most Venezuelans.

While President Nicolas Maduro makes frequent tirades against black market traders, whom he sees as part of the "economic war" on his government and the reason for inflation and shortages, he has never said anything about bitcoin. The government declined to comment on bitcoin policy.

[...]In Venezuela, using bitcoins can carry a scent of subversion.

http://www.reuters.com/article/2014/10/08/us-venezuela-bitcoin-idUSKCN0HX11O20141008?feedType=RSS&feedName=technologyNews

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[LiteCoinGuy]

3,2,1, ban.

[virtualx]

Interesting development in Venezuela. I think as citizens of the world we also need currency of the world, ,which will happen eventually.

[gmx95]

I am sceptical. Especially in such country like Venezuela people don't know much about bitcoin.

[H.W.Z]

Great!Venezuelans will know bitcoin can preserve the value like gold and has more advantages than their fiat bolivars. They will accept bitcoin.

[cr1776]

Great!Venezuelans will know bitcoin can preserve the value like gold and has more advantages than their fiat bolivars. They will accept bitcoin.

And when you need to flee dictators like those in Venezuela etc, you can easily flee with a private key.  Platinum, gold or silver, not so easily unless it is pre-positioned outside their grasp.  And authoritarians are lengthening their grasps daily around the world.

:-)

[notthematrix]

3,2,1, ban.

who cares for a ban if they cant enfore it!
http://www.youtube.com/watch?v=06wUSPCoRpg this guys explains this very well.

[maurya78]

It will take time to really trickle down to the folks at the bottom of the pyramid who really need what btc has to offer. Test of patience and resilience for the whole btc community.

[LiteCoinGuy]

3,2,1, ban.

who cares for a ban if they cant enfore it!
http://www.youtube.com/watch?v=06wUSPCoRpg this guys explains this very well.

i know. it still will be there and flourish but alot of these countries will ban it i guess.

[Paladin69]

I am sceptical. Especially in such country like Venezuela people don't know much about bitcoin.

People will make an attempt to learn quick if it is a safer haven than their shitty government currency.