What is Minimum Wage in Venezuala in Bitcoin terms?

in #bitshares • 6 years ago (edited)

How many satoshi do you think minimum wage would be calculated from Venezuelan Bolivares?

Hyper Bitcoinization incoming? IF you have not heard of hyper-bitcoinization it is theoretical monetary situation where goods/services are priced in Bitcoin during a hyperinflationary period. https://nakamotoinstitute.org/mempool/hyperbitcoinization/

This post on Reddit Bitcoin estimates Venezuelan minimum wage to be 17,350 satoshi/month. What do you think?

https://www.reddit.com/r/Bitcoin/comments/92utep/last_week_604_btc_were_traded_using_localbitcoin/

#bitcoin #blockchain #crypto #economics
6 years ago in #bitshares by
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     6 years ago 

    604 BTC in a week? That's a lot of money. Pricing their wages in BTC is preferably better than the USD, considering the high inflation they are experiencing.

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       6 years ago 

      @john-robert, I'm interested in the same topic as you, let's spin it together. I signed on to you, I hope you'll sign up for me. Always glad to meet new people!

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         6 years ago 

        Great to make you acquaintance

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