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Bitcoint itself is less monitored but to buy bitcoin (as opposed to mining or earning it) you have to use the money in your bank account. And if there are curr
by Symmetry 9y ago
Bitcoint itself is less monitored but to buy bitcoin (as opposed to mining or earning it) you have to use the money in your bank account. And if there are currency controls you won't be able to take your Venezuelan bank account and transfer the money to a US bitcoin holder in return for bitcoins. And I doubt many people in Venezuela who have bitcoins will want to trade them for Venezuelan currency.
- bsaul 9y agoThat's an issue i hadn't anticipated indeed. Wouldn't it possible to buy real goods in venezuela using native currency ( like , say electronic equipment, or maybe something that doesn't loose as much value in secondhand market), and sell it online against bitcoins ?
- Symmetry 9y agoI'm sure you could do it somehow but I wouldn't think it would be any easier to use Bitcoin than US dollars. The fundamental difficulty of working around the Venezuelan banking system is there in either case.