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Yes true, this is why I “dropped out of it” then eventually came back to it. The fact that I have Venezuelan friends who started hoarding it to avoid capital co
by sprafa 7y ago
Yes true, this is why I “dropped out of it” then eventually came back to it. The fact that I have Venezuelan friends who started hoarding it to avoid capital controls in their country convinced me of its usefulness and long-term viability.
- headsoup 7y agoSo long as someone is there willing to pay the same price for those coins. Do the grocery stores, butchers and other providers accept Bitcoin there? How do they value their goods against a 'currency' that is growing X00% weekly?
- gomox 7y agoThe mild fluctuations of the Bitcoin price can look like a walk in the park compared to the Venezuelan local currency.
- headsoup 7y agoI'm not familiar with the history, but is Venezuela's currency constantly volatile or are recent events an anomaly? How do you define Bitcoin's fluctuations as 'mild' - i.e what are you comparing it to other than the local currency to determine stability?
- gomox 7y agoThe comment was mostly tongue in cheek. Venezuelan currency has been hyperinflating for a while. So people are used to referencing prices in currencies other than the one used for the actual payment.
- conanbatt 7y agoYou have brokers that move dollars for bitcoin. So you turn it to actual cash. The key part is that there is no bank involved at any step.