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RE: How Bitcoin became safe haven in South America

in #bitcoin5 years ago (edited)

coin-dance-localbitcoins-VES-volume BTC.png

I think the graph used in the case of Venezuela is not the best, since it only shows the volume of exchange in terms of bolivars, it does not really say much. I think it is more useful to graph the volume of bitcoin exchanges (the week was 1960 btc). In the case of Venezuela, bitcoin has 3 uses:

  1. The increase in the sending of remittances and

  2. The use of bitcoin as a way to obtain other fiduciary currencies, due to the control of the currencies established in the country for more than 20 years.

  3. Use as a store of value.

https://steemit.com/bitcoin/@ppwrozo/weekly-bitcoin-market-report-in-venezuela-locabitcoin

The bitcoin market in localbitcoin is used as a way to access currencies and, in fact, it is the unit of account to determine the price of the dollar in terms of bolivars.

https://steemit.com/bitcoin/@ppwrozo/what-is-happening-with-bitcoin-in-venezuela

economy.jpg

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