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BTC · 3w

Venezuela: 75 BTC were traded last week only using LocalBitcoin, a 10 BTC increase from last week. These 75 BTC were 9,383,412,000,000 Bs. (Venezuelan currency, Bolivares ISO VES) ATH in Bs. One BTC is around 140,000,000,000 Bs. Minimum monthly wage is less than 1 USD. (Long post, NEW info inside)

Hi guys, I'm fine still haven't recovered smell and taste. Venezuelan living here, crypto enthusiast for these that don't know me. As I always do, these are the last week numbers, if you compare them to some other countries (using the same source, COINDANCE): ​ \- Argentina - 9 BTC \- Brazil - 12 BTC \- Canada - 7 BTC \- Chile - 10 BTC \- Colombia - 46 BTC \- Mexico - 9 BTC \- Peru - 12 BTC \- USA - 38 BTC These countries have economies WAY bigger than Venezuela, I think Venezuela is world leader when it comes to LocalBitcoin. And anyway the volume has been dropping (measured in BTC) I think it is because the high BTC price (the USD amount remains almost constant) and other exchanges have started accepting Bs. like Binance. There is also Reserve and AirTM. Sadly we don't have stats of them. People use it to: \- Send remittances from aborad to relatives still in Venezuela. \- Saving/Store of value (purchasing BTC with worthless Bolivares) \- Sending money OUTSIDE Venezuela (if you are a store owner you MUST accept Bolivares, that can lose the value 10% daily, so you need to get rid of them ASAP, purchasing BTC is an option) after you have them in BTC you can exchange them back to USD and maybe send them if you have an abroad account. \- Miners selling BTC to purchase things (Electricity is free but unreliable), high risk because goverment chases miners and REQUIRES them to be registered and report, you they find out you are mining clandestine you will get robbed and seized. My dream is to have a GPU mining, that would be under the radar and would let me generate a nice source of income. \- The own goverment to avoid sanctions (they, even the military have minning farms). Yes, monthly minimum wage is less than 1 USD, it's not a typo and I know it's hard to believe. It's currently 1,800,000 Bs. and 1 USD = 2,400,000 Bs. (offical price admited by the Venezuelan Central Bank). A NGO called "Venezuelan Finance Observatory" released a report of t...
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