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Author Topic: Venezuela and Bitcoin.  (Read 7991 times)
Maria
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May 26, 2012, 08:12:41 PM
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www.lechugafeliz.com esta en las etapas finales de su lanzamiento. Invitamos a todos a probar la pagina y a dejar sus sugerencias aqui o en privado. Gracias a todos!

Some may know that Venezuela has a limit on how much USD each citizen can purchase per Year. It is called el Cupo Cadivi. We are in the final stages of completing the first platform that allows our friends from Venezuela to purchae BTC using their national currency Bolivares fuertes.

Residentes de Venezuela: Buscamos socios  en Caracas y Maracaibo con cuentas de Mercantil y Banesco. Ya se acabara pronto el abuso del gobierno contra ustedee amigos mios. En la union esta la fuerza.

Maria.
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Gabi
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May 26, 2012, 08:14:53 PM
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Nice job! Good luck for the government to limit how much bitcoins someone can have
frankendoodle
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May 26, 2012, 08:54:40 PM
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Justamente ayer estaba pensando en si sería buena idea informar a la gente del grupo de intercambio de Lechuga Verde sobre los bitcoins para ver si podía generar un interés en ellos y servir como intermediario para su compra, no tengo tantos acumulados y como no tengo cuenta en el extranjero se me hace difícil comprarlos, además de que no le vería mucho provecho sin cobrar intereses altos y la idea tampoco es desplumar a la gente.
 
Esta es una idea fantástica y me encantaría ayudar en la medida de lo posible, vivo en Caracas y poseo cuentas tanto en Mercantil como en Banesco. Envíame un mensaje privado con la información y para ponernos en contacto y bueno, en caso de que no pueda ayudarlos, de todos modos espero que su servicio sea un éxito, yo personalmente sería un cliente desde el primer día.

In case anyone else is curious about our predicament, the problem is basically that currently there are no methods whatsoever to purchase Bitcoins directly here in Venezuela, there is a huge underground community of people doing black market exchanges because we have to jump through hoops to even get our "assigned" dollars in the first place, opening a foreign bank account is not an option for most people, we can't use money transfer services such as Western Union, etc. No one here knows about Bitcoins either though, but I'm sure they'd be a success in the only community where I do currency exchanges and would quickly take off for people who need money to do online purchases but don't have their own credit cards or they've already spent their yearly allotment.
evoorhees
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May 26, 2012, 10:41:29 PM
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If and when this actually happens, it will please me immensely. It warms my heart to see Bitcoin enabling liberty in regions of tyranny (whether USSA or Venezuela Wink )

Maria, please keep us updated on this. Also, you are aware of BitInstant's new cash deposits via Boleto in Brazil? Perhaps that will be of use to you.
frankendoodle
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May 26, 2012, 11:02:07 PM
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Sadly there isn't any similar system to the Boleto Bancario in place here. I'd say the only valid methods would be bank deposits, transfers, cash and possibly some sort of payment service via SMS or calls such as Dialcoin offers. Opening an organized exchange here could be an extremely profitable venture, there is a sizeable segment of the population that already turns to online currency exchangers to fund their online purchases, send money overseas, etc. so that's a huge pool of potential users right there.
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May 27, 2012, 12:46:48 AM
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Sadly there isn't any similar system to the Boleto Bancario in place here. I'd say the only valid methods would be bank deposits, transfers, cash and possibly some sort of payment service via SMS or calls such as Dialcoin offers. Opening an organized exchange here could be an extremely profitable venture, there is a sizeable segment of the population that already turns to online currency exchangers to fund their online purchases, send money overseas, etc. so that's a huge pool of potential users right there.

Pardon me for perhaps being naive... but doesn't Venezuela border Brazil? Would it not be possible to set up a network using BitInstant's Boleto system in a Brazil town on one side of the border, and an exchange in Venezuela on the other side of the border?

Then sell Bitcoins for bolivar in Venezuela, then exchange bolivar for reals in Venezuela or Brazil, then deposit those in Brazil via BitInstant/Boleto to buy more Bitcoins.

I believe Argentina borders Brazil also right? And aren't they also having a bit of a currency crisis? Implement the same system there Smiley
frankendoodle
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May 27, 2012, 01:12:36 AM
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Sure, that's possible. I personally don't have the resources to set up a network and for my small purchases I've never needed to, also it's nearly impossible to find an official exchanger here, so it'd have to be done all through the black market or send bolivars and have them exchanged there. You're on the right track though, I've advised some friends with accounts overseas to simply use them to purchase coins and then use those to fund their purchases when convenient and people are still willing to send deposits or transfers to your foreign bank accounts for bolivars, but we also have restrictions on dollars for traveling purposes and have to get approved beforehand for them, so taking a trip to set up some accounts also gets complicated and I'm getting a headache just thinking about it.

It's usually possible to find someone who at least is willing to sell you LR online here (but never a lot) for bolivars though and then just exchange those. That's why I'm interested in helping out María, theoretically they'd already have a network set up and would know how to exchange their bolivars for whichever currency they prefer.
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June 03, 2012, 06:04:51 AM
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I would absolutely love to see an exchange where people of Venezuela can exchange bolivar to other currencies. My gf is from Venezuela and has told me how difficult it is to use bolivar to get usd... the black market rate is horrible.

I would love to hear more updates Maria and am anxious to see your project up and running.
reg
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June 03, 2012, 09:00:32 AM
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maria, here in the uk I am also limited in the amount of currency I can obtain because I am on a state pension with no assets and no savings and no private pension. Its called being poor- a situation I am sure many venezualians know even more than us. So I quantative ease (illegal for private persons=counterfeiting) but ok for central authorities. BUT I can mine BTC and no one knows even who I am! I can convert to fiat and generally benefit myself and my family. Mining is the answer. reg

                                         http://bitcoinpyramid.com/r/2314
GideonGono
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June 03, 2012, 12:50:04 PM
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Nice work! Every corner or the world covered, no matter how small will help this revolution immensely.

Maria
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June 03, 2012, 03:46:05 PM
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maria, here in the uk I am also limited in the amount of currency I can obtain because I am on a state pension with no assets and no savings and no private pension. Its called being poor- a situation I am sure many venezualians know even more than us. So I quantative ease (illegal for private persons=counterfeiting) but ok for central authorities. BUT I can mine BTC and no one knows even who I am! I can convert to fiat and generally benefit myself and my family. Mining is the answer. reg

                                         http://bitcoinpyramid.com/r/2314

Actually, being poor is a state of mind. You have nobody but yourself to blame for your poverty and misfortune. If you change your mindset, you can get back on the money track as soon as possible.

In Venezuela, even if you change your mindset, the government enforces poverty. That is the difference.

Maria.

unclescrooge
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June 03, 2012, 07:15:53 PM
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maria, here in the uk I am also limited in the amount of currency I can obtain because I am on a state pension with no assets and no savings and no private pension. Its called being poor- a situation I am sure many venezualians know even more than us. So I quantative ease (illegal for private persons=counterfeiting) but ok for central authorities. BUT I can mine BTC and no one knows even who I am! I can convert to fiat and generally benefit myself and my family. Mining is the answer. reg

                                         http://bitcoinpyramid.com/r/2314

Actually, being poor is a state of mind. You have nobody but yourself to blame for your poverty and misfortune. If you change your mindset, you can get back on the money track as soon as possible.

In Venezuela, even if you change your mindset, the government enforces poverty. That is the difference.

Maria.



So true Smiley

(even if there's no government perfect in this regard, even in UK...

reg
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June 03, 2012, 09:07:42 PM
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I thought I had shown by outlining the problem and showing my solution (mining) that I had now the mindset to cope better with my circumstances as others can do anywhere. However I implied (I thought) that the Venesualian government is no different from any other- they all impose poverty so it is not different! The solution is no government and BTC empowers anyone to take back their autonomy via firstly control their own value from their labour and secondly to only support social systems they approve. These had been taken by all authoritarian regiemes and it still the case. However BTC is the only method I have come across to counter this and is why I support it enthusiastically. reg

                        http://bitcoinpyramid.com/r/2314
phantitox
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June 03, 2012, 09:11:21 PM
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Some may know that Venezuela has a limit on how much USD each citizen can purchase per Year. It is called el Cupo Cadivi. We are in the final stages of completing the first platform that allows our friends from Venezuela to purchae BTC using their national currency Bolivares fuertes.

Residentes de Venezuela: Buscamos socios  en Caracas y Maracaibo con cuentas de Mercantil y Banesco. Ya se acabara pronto el abuso del gobierno contra ustedee amigos mios. En la union esta la fuerza.

Maria.

Tengo una pequena inversion que me esta generando unos 2.8Gh (con un proximo incremento a 3.8Gh) en Valencia, me parece buena tu idea, si necesitas ayuda PM me. Wink
CoinDiver
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July 02, 2012, 02:14:47 PM
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I would like to buy BTC with BsF. How soon can this be done?

http://mises.org/daily/3229
BTC:1PEyEKyVZgUvV4moXvCD5rQN21QETGPpLc
Matthew N. Wright
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July 02, 2012, 02:19:09 PM
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We are in the final stages of completing

Who is "We"?

Are you talking about your alt-ID "CoinExchanger"?

Piper67
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July 02, 2012, 02:46:05 PM
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Sadly there isn't any similar system to the Boleto Bancario in place here. I'd say the only valid methods would be bank deposits, transfers, cash and possibly some sort of payment service via SMS or calls such as Dialcoin offers. Opening an organized exchange here could be an extremely profitable venture, there is a sizeable segment of the population that already turns to online currency exchangers to fund their online purchases, send money overseas, etc. so that's a huge pool of potential users right there.

Pardon me for perhaps being naive... but doesn't Venezuela border Brazil? Would it not be possible to set up a network using BitInstant's Boleto system in a Brazil town on one side of the border, and an exchange in Venezuela on the other side of the border?

Then sell Bitcoins for bolivar in Venezuela, then exchange bolivar for reals in Venezuela or Brazil, then deposit those in Brazil via BitInstant/Boleto to buy more Bitcoins.

I believe Argentina borders Brazil also right? And aren't they also having a bit of a currency crisis? Implement the same system there Smiley

Not sure this would be feasible in the long run. The borders between the countries are somewhat porous, but you're introducing an unknown variable if the whole thing is dependent on someone physically moving back and forth across the border to get the local currency out and BTC in.

A local, face to face bitcoin exchange like localbitcoins.com seems a lot better, IMO. This is especially true in the case of Argentina, where there are now limits to how many USD you can buy, and there are controls on the exchange rate between the USD and the peso. There's a lot of money to be made by anyone who would take physical pesos in exchange for BTC through a local, decentralised exchange. There aren't any laws concerning BTC yet in either country, nor are they likely to be forthcoming in the near future. And for Argentines and Venezuelans, particularly for those who wish to travel abroad and aren't allowed to leave the country with more than a fixed amount of USD, this would be a boon.

Would be good for Bitcoin as well.
EhVedadoOAnonimato
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July 02, 2012, 02:57:01 PM
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Pardon me for perhaps being naive... but doesn't Venezuela border Brazil? Would it not be possible to set up a network using BitInstant's Boleto system in a Brazil town on one side of the border, and an exchange in Venezuela on the other side of the border?

Population density close to the border is way too low to sustain such a thing, IMHO. Take a look at this image. The lighter color means less than 5 people per squared kilometer. It's basically just jungle over there.

So, many people crossing over is just not going to happen. And a few people working as intermediaries is dangerous (the intermediary may run away with your cash, or call too much attention to himself and end up being caught). I know, drug dealers do this all the time, but well, they're drug dealers. They may charge a huge price for their services and still sell their product. I don't think the same applies for cash conversion.
Piper67
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July 02, 2012, 03:03:05 PM
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Pardon me for perhaps being naive... but doesn't Venezuela border Brazil? Would it not be possible to set up a network using BitInstant's Boleto system in a Brazil town on one side of the border, and an exchange in Venezuela on the other side of the border?

Population density close to the border is way too low to sustain such a thing, IMHO. Take a look at this image. The lighter color means less than 5 people per squared kilometer. It's basically just jungle over there.

So, many people crossing over is just not going to happen. And a few people working as intermediaries is dangerous (the intermediary may run away with your cash, or call too much attention to himself and end up being caught). I know, drug dealers do this all the time, but well, they're drug dealers. They may charge a huge premium for their services and still sell their product. I don't think the same applies for cash conversion.

Exactly. If the Venezuelan situation is anything like the Argentine one, there are enough people in the country who already have US-based bank accounts (illegal as it may be for them to have them). All it takes is for a few of them to be willing to buy BTC, then sell them locally, for a nice premium.

Alternately, any Venezuelans with relatives or friends in the US, Canada or Europe could easily set up a system whereby the foreign resident buys BTC and sends them over for them to sell locally, instead of having their relatives wire them money via Western Union or PayPal, for instance.

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July 02, 2012, 03:49:56 PM
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the amount of time and money for a trip to the border with Brazil is too much for what it really would win, you would have to sell many BTC in Brazil to make it profitable, land transport services in my country suck, we do not have a railway system to get you there and the plane tickets are outrageously expensive (everything is calculated at a dollar price of nine times above the local currency) is much less loss if it sells the BTC for bank transfers in dollars and use them to change them to local currency if needed, but like everything here is imported is more practical to have dollars and buy whatever you need from outside.

The only thing really here is to generate BTC and only if you do it with a system based on fuel generator because electricity is subsidized and there are many electrical outages (depending on the area where you live) I personally have my mining operation that way and is a super efficient my 4000W generator only consumes me like $ 10 a month on gas calculate on that 9x echange rate on black market  Grin
the really hard part is to buy hardware parts por rigs or anything of electronics is very hard to buy because you need to import it from miami (which have better shipping price that any other neighboring country) and that takes time, also the other hard part is to actually exchange the BTC to $ or any other currency since almost every exchange works very well if you are US or EU citizen (at leas if you want to get low fees) everything else is well.... complicated.
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