Venezuela UPDATE. 1 BTC is 27,000,000 Bs. Last week it was 23,000,000 Bs. Monthly minimum wage down to 3.5 USD. 1,454 BTC were traded last week. More than 2,000,000 of minimum wages.

Hey guys, situation is the same here.

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 3.5 USD (67,000 satoshis) , 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 minimum 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 now 4113 Bs. per USD. http://www.bcv.org.ve/

(Last week is was 3,302.24) BS. Per USD.

18,000 / 4,113 = 4,36 USD

(Street rate is around 5,000 Bs per USD, that is why the 3.5 USD figure)

submitted by /u/WorkingLime
[link] [comments]
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

submitted by /u/WorkingLime
[link] [comments]
Bitcoin – The Currency of the Internet

Mom bought “I accept bitcoin socks” at the spy museum shop in D.C. for $6.98(half off), she asked for one Bitcoin and I don’t have it so I offered 0.01, she countered with two bitcoin, I offered 0.0000001 . We set up a wallet and she now has traded a pair of socks for 0.0025 BTC

Mom bought “I accept bitcoin socks” at the spy museum shop in D.C. for $  6.98(half off), she asked for one Bitcoin and I don’t have it so I offered 0.01, she countered with two bitcoin, I offered 0.0000001 . We set up a wallet and she now has traded a pair of socks for 0.0025 BTC submitted by /u/richpor104
[link] [comments]

Bitcoin – The Currency of the Internet

QuadrigaCX Exposed? Founder Allegedly Traded $8 Million in Bitcoin

According to pseudonymous cryptocurrency researcher “I am Nomad” and a report from The Block, QuadrigaCX co-founder Michael Patryn traded large Bitcoin positions on BitMEX surpassing the tune of $ 8 million. QuadrigaCX Co-Founder Allegedly Caught Making Major Bitcoin Trades QuadrigaCX, the now-defunct exchange which was once Canada’s biggest cryptocurrency trading platform, claimed to have lost $ 150 million in crypto assets following the death of its CEO Gerald Cotten. The exchange claimed that Cotten passed away with sole control over user funds stored in cold wallets. As such, the company has not been able to reimburse users who lost their funds on

The post QuadrigaCX Exposed? Founder Allegedly Traded $ 8 Million in Bitcoin appeared first on CCN

News – CCN

(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.

submitted by /u/WorkingLime
[link] [comments]
Bitcoin – The Currency of the Internet

Last week 1,190 BTC (all time high) were traded using localbitcoins in Venezuela. One BTC is around 1,900,000 BsS (all time high too). Montly minimum was increased from around 5 USD (1800 BsS.) to 12 USD (4500 BsS.). Inflation in the last three months was 400,000%.

Hi guys, monthly update. I'm Venezuelan living here, each day needing more money to survive. It's incredible how inflation is reaching even "hard" currency like USD or EUROS.

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

http://dolarbeta.com/

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

AMA

BTW: Maduro "ordered" to change the value of the petro v2 (Venezuelan "crypto") from around 3,600 BsS. to 9,000 BsS.

http://mppre.gob.ve/en/2018/11/29/president-nicolas-maduro-salary-increase-petro/

submitted by /u/WorkingLime
[link] [comments]
Bitcoin – The Currency of the Internet

Venezuelan update: One BTC is around 1,524,000 BsS. (Bolivares, more than 100% increase in around 1 month), monthly minimum wage is around 8 USD -0.0013 BTC- and inflation keeps going on (even in USD). 915 BTC were traded last week using Localbitcoin data.

Hello,

You can check the "Coffee with milk index made by Bloomberg" https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/

Government "set" the prices of some goods and what happens is that they set the price is under the production cost. But now people just don't care, price is set at 90 BsS. per kilo (which is around 45 usd cents) none wants to sell at that price, people is selling it at around 700 Bs. (3 USD) and nothing happens.

Government ordered all the banks to show your balance in petro cryptocurrency as well (Government cryptocurrency), if you have 3600 BsS. (15 USD) in your account it will show 1 Petro. Even BBVA and Citibank had to do this.

You can check the 24h volume here http://dolarbeta.com/ and the last week volumen using Coindance

AMA anything

submitted by /u/WorkingLime
[link] [comments]
Bitcoin – The Currency of the Internet