(Venezuela) One BTC is 23,000,000 Bolivares (Bs.), last week it was 18,000,000. Minimum monthly wage is around 5 USD. Localbitcoin trades around 1,500 BTC weekly.

Crisis has worsened. Caracas has electricity 24/7, the rest of the country has between 21 and 18h per day.

Zulia state only has electricity 6h per day.

Monthly minimum wage (Here in Venezuela a lot of people earn minimum wage) is 18,000 Bs. per month (One USD is around 3,500 Bs. fixed by the goverment and 4,500 Bs. street rate) that is like 80,000 satoshis.

With my work and some extra money I almost have to pay for all the expenses of my parents, if not, they would starve. I'm living here BTW.

https://coin.dance/volume/localbitcoins/VES/BTC

https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/

https://dolarsatoshi.com/

Some people dont believe the MONTHLY minimum wage is around 5 USD, here is some proof:

https://www.reuters.com/article/us-venezuela-economy/we-all-earn-the-same-venezuela-minimum-wage-hike-angers-skilled-workers-idUSKCN1M62OX

You can see the minium wage here :

https://www.reuters.com/article/us-venezuela-politics-wage/venezuelas-maduro-hikes-minimum-wage-300-percent-idUSKCN1P82E2

18.000 BS. per month

And the official exchange rate is 3,302.24 BS. Per USD.

https://www.france24.com/en/20190128-venezuela-devalues-currency-align-it-with-black-market

You can see here is wages, a minister "should" earn just 36,000 Bs. per month which is less than 10 USD https://www.costadelsolfm.net/2019/01/16/nueva-tabla-salarial-administracion-publica-enero-2019-obreros-empleados-y-altos-funcionarios/

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Bitcoin – The Currency of the Internet

(Venezuela) Localbitcoin traded 1,456 BTC last week (ATH is 2,487) one BTC is around 18,000,000 Bs. Monthly minimum wage is 5 USD. Inflation rate is around 250,000%.

Hi guys time without posting. There were some nationwide blackouts, prices are going crazy (even in USD) so no time to keep you update.

Monthly minimum wage (Here in Venezuela a lot of people earn minimum wage) is 18,000 Bs. per month (One USD is around 3,500 Bs.) that is like 100,000 satoshis.

https://coin.dance/volume/localbitcoins/VES/BTC

https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/

AMA Venezuelan living in Venezuela

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Bitcoin – The Currency of the Internet

Why i still hold my Bitcoin after losing around 1.9 Million Dollars

Throwaway for obvious reasons.

I accumulated Bitcoin from early 2013 till 2017 and all bought and traded around to 100 Bitcoins.

Did a lot of Crypto Trading in that timeframe, specially on btc-e.com, a Russian crypto gambling and trading site which was seized by the US Government.

Thankfully I had a good nose and traded all LTC I bought there to BTC and send it to myself 2 weeks before the site was shut down. At the time that was around 17 Bitcoins. Never leave your coins in an exchange.

Then 2017 came and i was a financial idiot at the time. Well after trading some more real money for some Coins I had a + of 2.350 Million Dollars.

And I didn’t sell anything but my investment of around 90k.

Now I think It was a stupid move. One of my main causes then was the Tax money I owned in some trades and I would have payed around 400k+ in Taxes which I would have liked to avoid. Maybe you can guess the country. Still – it was retarded and I know it. On the other hand, If I always had done everything from the book I would have never had such an uprising.

It also was the 5th or 6th time I had witnessed a crash. Same business as usual I thought, money can get blurry even if it´s in this magnitude.

Well, to now. January of 2019. I still have around 400.000 Dollars in Crypto, payed my taxes I owned form Crypto and iam very fortuned in life in general, so I guess I don´t mind as much as I should.

Now why do I still hold?

After seeing the manpower that was poured into Bitcoin and Blockchain development, the Education that was offered and the overall praise of Bitcoin in general – I want to hold.

I believe with the next halving in May 2020, the real Bullrun will come if the Stars align. When some form of governmental recognition and an easy to use application for buying is in place till then, we will see a hopefully meteoric rise. If average joe can buy Bitcoin easy with an App and the Media picks up the hype.

On the other hand, maybe the damage is done and no one cares anymore. But Bitcoin is still the same it was one or two or ten years ago.

Nothing changed, it just got better.

Just my story, you can make of it what you like.

-EDIT-

I didn´t expect to log on this account anymore but damn, you guys are amazing. Thanks for the mature and kinds words.

And thanks for the 6000 Satoshis, you guys are crazy.

submitted by /u/bitcoin234142
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Bitcoin – The Currency of the Internet

(Venezuela) Last week volume traded in Localbitcoin was 1,309 BTC (ATH is 1,974) . One BTC is around 9,100,000 BsS (ATH). Monthly minimum is 4,500 Bs or 1.8 USD. Two weeks ago BTC price was 3,300,000 Bs.S and minimum wage was 4.6 USD. 2018 inflation was 1,700,000%

Hi guys, Venezuelan living here. Things are really hard here, even if you have some BTC or USD prices are increasing. Basically I have to support (or at least try) my whole family.

One monthly minimum wage is around 50,000 satoshis. Daily that would be around 1,700 satoshis.

All of this is calculated using street exchange rate, but even if you use the "official" exchange rate the situation is almost the same, monthly minimum wage would be 5,22 USD PER MONTH.

2018 inflation rate was around 1,700,000% https://www.brecorder.com/2019/01/10/464580/venezuelas-annual-inflation-surges-to-1-7-million-percent/

https://coin.dance/volume/localbitcoins/VES/BTC

https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/

AMA.

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Bitcoin – The Currency of the Internet