Venezuela Update: Exchange rate is around 900,000 Bolivares (Bs) per USD. LocalBitcoin traded 435 BTC last week. Minium wage was raised to 3 USD / month

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

Situation worsened because the goverment started an operation called "Manos de Papel" hunting people who were trading a lot of bolivares (which the suppose come from selling USD and cryptos not using their controlled exchange rate).

Also, they took control of the biggest private bank of the country, called Banesco.

In fact, before that Localbitcoin traded the all time record of 957 BTC traded in one week.

The price of the meat was 800,000 per kg 4 weeks ago and now it's 4,500,000 kg.

It's crazy living here (and sad….)

You can see my old posts for more context

https://np.reddit.com/r/Bitcoin/comments/8e591z/venezuela_update_exchange_rate_is_around_600000/

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Bitcoin – The Currency of the Internet

Maduro says Venezuela to get $1 bn injection from 'bitcoin' sale

Maduro says Venezuela to get $ 1 bn injection from 'bitcoin' sale. April 27, 2018. With rampant inflation more than decimating the bolivar, Venezuelan authorities are banking on the petro becoming a digital means of pulling them out of crisis. Venezuela's government, which is facing a worsening liquidity …
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Venezuela Update: Exchange rate is around 600,000 Bolivares (Bs) per USD. LocalBitcoin traded 654 BTC last week. Minium wage is 2 USD / month (reddit.com)

https://coin.dance/volume/localbitcoins/VEF/BTC You can see my old post for more context https://np.reddit.com/r/Bitcoin/comments/8cet9t/localbitcoin_venezuela_traded_663_bitcoins_last/

Bitcoin

Venezuela Recruiting Citizens to Mine Cryptocurrencies (news.bitcoin.com)

Venezuela is calling for its citizens to build cryptocurrency mining farms throughout the country. The government has set up a crypto mining program which president Nicolas Maduro hopes will attract at least 1 million people such as university students, the unemployed, single mothers and the homeless.
Also read: Japan’s

Bitcoin

Venezuela Picks FX Platform to Auction Petro ‘Oil-Backed Cryptocurrency’ (news.bitcoin.com)

Venezuela has chosen a platform on which to auction its “oil-backed cryptocurrency”, the petro. While the country’s National Assembly has repeatedly declared this new currency illegal, the Venezuelan government will proceed with the auction of the petro on the country’s official foreign exchange platform.
Also read: 

Bitcoin

I paid dinner using Bitcoin in Venezuela. First time crypto-transaction of the restaurant!

I just paid dinner in Bitcoin. Venezuela is not mass adopting Bitcoin for now but various sites are starting to accept Bitcoin as payment in Bolivares suffer from inflation.

Here are the pics in bad quality of a couple of dishes + BTC transaction already confirmed.

https://picoolio.net/image/IaGW https://picoolio.net/image/IaGK https://picoolio.net/image/IaQ3

And yes it's a expensive restaurant in Venezuela, based on all the problems here… there are restaurants that are still offering good quality service and dishes but for an expensive price compared to monthly salary.

I'm happy Bitcoin is growing and these options are now here.

Thanks for reading.

PS. not sharing this because country where I made payment. I'm sharing because Bitcoin adoption. I would love to keep discussions of Venezuela out. But If you want me to explain current situation, you are free send me a private message.

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Bitcoin – The Currency of the Internet