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Reminds a lot of some of the eastern European states prior to the USSR collapse, but seemingly much worse. Also the power outages mentioned - they should prove
by mosdl 5y ago
Reminds a lot of some of the eastern European states prior to the USSR collapse, but seemingly much worse.
Also the power outages mentioned - they should prove that crypto won't help...
- rolobio 5y agoI think that's a good takeaway. But he does mention that once he's in Columbia, he is able to convert some of his crypto into cash. So maybe storing more of his cash into crypto would have helped? But then again, he did need cash for bribes...
- yardie 5y agoThe amount of cash he needed to keep on hand didn't seem unreasonable. But keeping any less and he might have to walk the rest of the way. Crypto still has a long way to go to being the great, ubiquitous equalizer it was designed to be.
- yawaworht1978 5y agoI know Colombia pretty well. My goodness, he better not convert Bitcoin to cash there. Colombia is by no means much safer than Venezuela, ever and in particular since about 2 months. Few people remember that not too long ago Colombians were seeking refuge in Venezuela. He should use an online exchange if he can provide KYC. Something like in person exchange in Colombia is playing Russian/Colombian roulette. Maybe he has family he can trust with, but yeah. In Colombia, wrong street and someone will rob you at gunpoint for a phone, even if there is not Bitcoin on it.