Turns People to Cryptocurrencies. Buffett and his ilk try to tell you that Bitcoin is useless. Featured Image: Depositphotos/ Paulpaladin. Other than devaluing the countrys currency by 100 and renaming it to the sovereign bolivar, the countrys president, Nicola Maduro, announced his oil-backed cryptocurrency that would be pegged to the new Bolivar. Despite Maduro making strong efforts to push his Petro coin, interest has dropped dramatically, and residents are still sticking to Bitcoin (BTC). Today, decades of corrupt and neglectful policies have put Venezuela on a road to economic disaster, and its accelerating. The IMF estimates that Venezuelas inflation stands at around.3 million percent, meaning that prices double in less than a month. With the prospect of further financial difficulties on the horizon, Bitcoin users will probably be looking for ways of going around the problem.
Bitcoin.com on Tuesday that BTC trading volume for.
Venezuela on its platform increased.66 percent in 2018 compared to the previous year, taking into account only.
Bitcoin News, shapeShift CEO Donates 1,000 in, bitcoin to Venezuelans: A Real Lifeline.
Erik Voorhees, the CEO at instant digital asset exchange ShapeShift, has donated 1,000 in BTC.
The amount of bitcoin traded in crisis-stricken.
Bitcoin In Venezuela: Bolivar Worth 50 Of World
The countrys national currency, the Bolivar has plummeted in value. Malta Prime Minister: Cryptocurrency is the Inevitable Future of Money. On social media, Bitcoin, Dash, and, zcash are often cited as the number one choices for Venezuelans looking to weather hyperinflation. And, people from around the globe are helping the country find its way to cryptocurrency. Tip us some Satoshi with the exciting new Lightning Network tool! Conditions have become so bad that ten percent of the countrys population has fled the country, according to The Economist.
Venezuela has exploded to reach an all-time high.
It comes at a time when tensions are reaching boiling point, with the country in the midst of the.
Bitcoin, volumes in, venezuela, plummet During Nationwide Blackout.
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