Back here, last week in Venezuela LocalBitcoin traded 597 BTC for a total amount 11,884,027,816,113 Bolivares. Inflation is still rising, gov increased minimum wage from 3,000,000 to 5,000,000 Bs per month. 1 USD in the black market is between 3,500,000 and 4,000,000 Bs.

Hi guys, I was off some weeks, had several problems with the internet (the payment I made each month is almost zero so no maintenance), people are stealing copper wires from ADSL or power and selling them in the back market.

Government wanted to shave off 3 zeroes from the currency but had to delay that because there were no new bills, now they are thinking in shaving off 6 zeroes.

Inflation has continued increasing, while minimum wage per month is 5,000,000 Bs, one kilo of meat is around 8,000,000 Bs. One month ago was 5,000,000 Bs.

By the way, gasoline is free here in some service stations they don't require you to pay, you just fill the tank and go. One liter is 6Bs. which is 1.714285714285714e-6 USD.

One BTC trades around 25,000,000,000 Bolivares.

While government doesn't recognize officially the 3,500,000 / 4,000,000 black market exchange, they gave the authorization of Zoom (that works with Western Union) of do the exchange at 2,500,000 Bs. per USD.

You can read this articles (i recommend these sites)

https://www.caracaschronicles.com/2018/07/16/zulia-seeks-a-blaze-of-light-during-power-cut-collapse/

https://www.caracaschronicles.com/2018/07/17/the-not-so-silent-shakedown-of-venezuelan-radio-broadcasting/

https://www.caracaschronicles.com/2018/07/18/venezuelan-nurses-strike-sparks-the-streets-of-caracas/

https://www.caracaschronicles.com/2018/07/18/corruption-and-kleptocracy-keep-the-government-going/

https://www.caracaschronicles.com/2018/07/13/caraquenos-trade-food-for-water-during-shortage/

https://www.caracaschronicles.com/2018/07/13/getting-an-apostille-for-your-documents-might-land-you-in-jail/

https://www.caracaschronicles.com/2018/07/10/sand-and-negligence-consume-whats-left-of-paraguana-peninsula/

https://www.caracaschronicles.com/2018/07/01/some-classes-struggle-more-than-others/

https://www.caracaschronicles.com/2018/07/02/culture-and-art-resist-the-dictatorship/

BTW, some people asked me about some Venezuelan bills, here is it illegal to ship them (maybe if you send one bill inside a book nothing will happen) but shipping anything more than that will get me in jail. I have one friend that lives in the states, he had some bills in his backpack when he left (no more than 20 bills), with his help maybe I can ship some bills, of course the main idea is to pay shipping cost and get something extra (remember, 100000 satoshis here can get me a kilo of meat, rice, pasta and beans). I already shipped with my friend some bills to https://www.reddit.com/user/Lord_Saren PM if you want to know more.

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

One Bitcoin Dev was detained for 12 hours at a US airport after telling them he was there to attend a Bitcoin conference (Scaling Bitcoin last year.) After a shift change, nobody knew why he was being detained and then he was released.

One Bitcoin Dev was detained for 12 hours at a US airport after telling them he was there to attend a Bitcoin conference (Scaling Bitcoin last year.) After a shift change, nobody knew why he was being detained and then he was released. submitted by /u/Bitcoin_21
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Bitcoin – The Currency of the Internet

Amid 40,000% annual inflation, Bitcoin price surges 15,3% in Venezuela last week. Bitcoin volume increase in 3% to 494 BTC

A recent university study found that about 90% of civilians were living in poverty last year and most of those surveyed had lost an average of 25 pounds in body weight

More people is using Bitcoin in Venezuela every day to overcome the economic controls that government imposed that turned the majority of us into poors.

submitted by /u/Windows7733
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Bitcoin – The Currency of the Internet