What happening in Venezuela ??

[Salamouna]

I'm BTC seller and 90% of my clients are from Venezuela.
So i wonder why those people are interested in BTC.

 

[HoNeYBiRD]

Short version: There's an economic crisis there and they think storing their money in BTC is a better option than storing it in their national currency.

Long version: https://www.bbc.com/news/business-47553048

 

[dxnyshin]

People in Venezuela are interested in BTC because they don't trust their government and they see it as a way to resguard their assets.

 

[demoownz]

Short version: Socialism doesnt work.

 

[ScribScribScrib]

Also: People are massively pumping bitcoin into Venezuela as they want to help the starving masses there.

 

[CryptoKujira]

The people lost all trust in their gov, and the financial system has collapsed.

 

[PropertyGrow]

Currency is hyperinflating, so it makes sense to store your money in crypto as it is much more stable.

 

[quierosermillonario]

The Bolivar (venezuelan currency) is hyperinflated. The people here tends to change the Bolivar for a stronger currency, most people change it for US dollars. Also there are a lot of people changing it for Bitcoin (or any other cryptocurrency) since even 0.000001btc has more value than 1 Bolivar. Yea, things here are fucked up.

TL;DR:

Short version: Socialism doesnt work.

 

[COBNETCKNN]

I remember my faher telling me that during '80 i yugoslavia they were exchanging yu dinars to deutsche marks as soons as they get payed, now in 21st century bitcoin in deutsche mark same thing is going on in venezuela right now as it was in yugoslavia, hiperinflation is the right term

 

[Samir Boyle]

hyper inflation. also venezuelan or other south american bros: is it good time to invest in venezuela since they're going to recover soon?

 

[arlind-]

Keynesian economics and socialism

 

[awesomewebsites]

Are they buying at standard prices or little bit more than that.

 

[quierosermillonario]

hyper inflation. also venezuelan or other south american bros: is it good time to invest in venezuela since they're going to recover soon?

Unfortunately I don't think Venezuela will recover "soon" bro. Dictatorships last a long time, there are many examples and Venezuela is not the exception. Opposition here are puppetry. Of course right now there are people desesperated to leave the country so they sell their goods very cheap, in this case probably it would worth it, but you don't know if the government will expropiate you the property/good just for the hell of it. It's a risky investment.

 

[Gogol]

Short version: Socialism doesnt work.

I don't want to go into a political debate, but... This is the answer lol.

 

[Nozge]

I heard It's about to start a war, I heard that the state shutdown the power (electricity) and also heard that Russia is attending to keep that region for him self or smth about, my only sources for all of this that I said is from people telling me.
I hope they get better soon.

 

[msyaz]

Short version: Socialism doesnt work.

Whats happening in Venezuela is not a result of Socialism.

It is Selfishism.

 

[seo diagrams]

Madurooo CDTM

 

[Conix]

Currency is hyperinflating, so it makes sense to store your money in crypto as it is much more stable.

But not all Currency is hyperinflating, US Dollar is stable.

 

[Alexpaberla]

Check on Google about Venezuela inflation and how their money have 0 VALUE they dont use money to buy something they change food, medicaments.
I see a photo on google about how people from Venezuela throw money on street. The inflation in Venezuela for 2019 is something like 1.900% ! wich is crazy.
In some country when inflation reach 4-5% is a big problem think about Venezuela 1900% inflation is very huge.

Cryptocurrency could save them, i dont know why too many people dont accept cryptocurrency, Blockchain is the future !

 

[ShadowMaster12]

I think US and Russia will play another Proxy war in Venezuela. Russia have already sent 100 Troops there to show their support for the current government and US is support the opposition as Interim President.
Venezuela have Huge reserve of OIL so chances of a big armed conflict are very high (Small conflicts are already happening.

P.S
Things are pretty fucked up there