12-26-2022, 11:02 PM
43 BTC were traded in Venezuela last week using LocalBitcoins (Highest since July).
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/zve1vp/43_btc_were_traded_in_venezuela_last_week_using/"> <img src="https://external-preview.redd.it/VDHDocYz-ZHUnedfNEnniuKg_NN02zQ6hDJ9hqPUcUY.jpg?width=640&crop=smart&auto=webp&s=b6fd59fcad350ed8b089b0f1943d67bc9e4b62a1" alt="43 BTC were traded in Venezuela last week using LocalBitcoins (Highest since July). Monthly minimum wage under 8 USD!" title="43 BTC were traded in Venezuela last week using LocalBitcoins (Highest since July). Monthly minimum wage under 8 USD!" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>Hi guys, as I have been doing for years, just updating this week numbers.</p> <p>As you probably know I'm Venezuelan living here! </p> <p>This week we saw a increased compared to last week (35 BTC), maybe because in december people spend more money. This is the biggest increase since July. Don't get me wrong, the amount is still low considering the values we managed years ago. Why?</p> <p>LocalBitcoins is not that used anymore like before, people moved to Binance, Reserve, AirTM and others.</p> <p>One BTC trades around 300,000 Bs. </p> <p>​</p> <p><a href="https://preview.redd.it/9rfprruxw58a1.jpg?width=1861&format=pjpg&auto=webp&s=4c14af5132e1f29ac91ae85d11a2d9f91730b262">https://preview.redd.it/9rfprruxw58a1.jpg?width=1861&format=pjpg&auto=webp&s=4c14af5132e1f29ac91ae85d11a2d9f91730b262</a></p> <p>Yes, monthly minimum wage is under 8 USD (130 Bs. -Bolivares-, exchange rate is around 17 Bs. per USD), average wage is around 100-120 USD and according to NGO a person needs 80 USD monthly to not starve.</p> <p>Inflation is very high, Bolivares lose value each day, so people use crypto to avoid that. Also, people receive remittances from abroad, exchange mining profits and so on. Yeah, electricity is kinda free...</p> <p>Some sources:</p> <p><a href="https://www.reuters.com/technology/venezuelas-economy-regresses-crypto-fills-gaps-2021-06-22/">https://www.reuters.com/technology/venezuelas-economy-regresses-crypto-fills-gaps-2021-06-22/</a></p> <p><a href="https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela">https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela</a></p> <p><a href="https://coin.dance/volume/localbitcoins/VED/BTC">https://coin.dance/volume/localbitcoins/VED/BTC</a></p> <p><a href="https://coin.dance/volume/localbitcoins/VED">https://coin.dance/volume/localbitcoins/VED</a></p> <p><a href="https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/">https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/</a></p> <p><a href="https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/">https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/</a></p> <p><a href="https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/">https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/</a></p> <p><a href="https://localbitcoins.com/country/VE">https://localbitcoins.com/country/VE</a></p> <p><a href="https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/">https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/WorkingLime"> /u/WorkingLime </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zve1vp/43_btc_were_traded_in_venezuela_last_week_using/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zve1vp/43_btc_were_traded_in_venezuela_last_week_using/">[comments]</a></span> </td></tr></table>
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/zve1vp/43_btc_were_traded_in_venezuela_last_week_using/"> <img src="https://external-preview.redd.it/VDHDocYz-ZHUnedfNEnniuKg_NN02zQ6hDJ9hqPUcUY.jpg?width=640&crop=smart&auto=webp&s=b6fd59fcad350ed8b089b0f1943d67bc9e4b62a1" alt="43 BTC were traded in Venezuela last week using LocalBitcoins (Highest since July). Monthly minimum wage under 8 USD!" title="43 BTC were traded in Venezuela last week using LocalBitcoins (Highest since July). Monthly minimum wage under 8 USD!" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>Hi guys, as I have been doing for years, just updating this week numbers.</p> <p>As you probably know I'm Venezuelan living here! </p> <p>This week we saw a increased compared to last week (35 BTC), maybe because in december people spend more money. This is the biggest increase since July. Don't get me wrong, the amount is still low considering the values we managed years ago. Why?</p> <p>LocalBitcoins is not that used anymore like before, people moved to Binance, Reserve, AirTM and others.</p> <p>One BTC trades around 300,000 Bs. </p> <p>​</p> <p><a href="https://preview.redd.it/9rfprruxw58a1.jpg?width=1861&format=pjpg&auto=webp&s=4c14af5132e1f29ac91ae85d11a2d9f91730b262">https://preview.redd.it/9rfprruxw58a1.jpg?width=1861&format=pjpg&auto=webp&s=4c14af5132e1f29ac91ae85d11a2d9f91730b262</a></p> <p>Yes, monthly minimum wage is under 8 USD (130 Bs. -Bolivares-, exchange rate is around 17 Bs. per USD), average wage is around 100-120 USD and according to NGO a person needs 80 USD monthly to not starve.</p> <p>Inflation is very high, Bolivares lose value each day, so people use crypto to avoid that. Also, people receive remittances from abroad, exchange mining profits and so on. Yeah, electricity is kinda free...</p> <p>Some sources:</p> <p><a href="https://www.reuters.com/technology/venezuelas-economy-regresses-crypto-fills-gaps-2021-06-22/">https://www.reuters.com/technology/venezuelas-economy-regresses-crypto-fills-gaps-2021-06-22/</a></p> <p><a href="https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela">https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela</a></p> <p><a href="https://coin.dance/volume/localbitcoins/VED/BTC">https://coin.dance/volume/localbitcoins/VED/BTC</a></p> <p><a href="https://coin.dance/volume/localbitcoins/VED">https://coin.dance/volume/localbitcoins/VED</a></p> <p><a href="https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/">https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/</a></p> <p><a href="https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/">https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/</a></p> <p><a href="https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/">https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/</a></p> <p><a href="https://localbitcoins.com/country/VE">https://localbitcoins.com/country/VE</a></p> <p><a href="https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/">https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/WorkingLime"> /u/WorkingLime </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zve1vp/43_btc_were_traded_in_venezuela_last_week_using/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zve1vp/43_btc_were_traded_in_venezuela_last_week_using/">[comments]</a></span> </td></tr></table>