Many think that the best thing for the country would be to sign Bitcoin's adoption.
Black market prices for the Venezuelan bolivar are already equivalent to 1 satoshi of Bitcoin. A satoshi, the designation used for the eighth decimal of a Bitcoin, is the smallest transferable unit of the criptomoneda ... in dollar terms, a satoshi is currently equivalent to $ 0.0000420842.
The news has highlighted in the first page of Reddit, compiling many comments ... among them you can appreciate the one of ayanamirs:
You can literally earn more money than the minimum wage on PTC pages.
The formerly richest country in South America is now experiencing hyperinflation rates that are close to a thousand percent. In the black market, one dollar is equivalent to 25,000 bolivars - for the moment of writing this article - and that is forcing Venezuelans to pay impressive sums of money for food and medicines, which are scarce on a regular basis and reinforce the humanitarian crisis.
In this way, many Venezuelans have resorted to the mining of Bitcoin and other criptomonedas that can be exchanged by BTC. Those Venezuelans who do not have a bank account can use Bitcoin without problems, as long as they have a mobile phone and a wallet application. While it is true that adoption is currently low, more and more Venezuelans are betting on this area to protect their finances ... With the parity between the satoshi and the bolivar is logical to think that the trend will increase.
Source: Bitcoinist.
Image of Pixabay.