Re: Price of bitcoin in bolivars

Quote from: subwoofer12 on September 28, 2015, 09:26:42 PM

Is this formula a good way of determining the spot market price?

DolarToday * Bitstamp

Code:

793.10 * 238.6

1 BTC = 189,233 VEF

Although the price on LocalBitcoins is somewhat lower 164,712 VEF (Caracas average)

If you are going to sell your BTC just because of this situation:

http://www.newsbtc.com/2015/10/01/venezuela-reportedly-blocking-bitcoin-websites/

I suggest you to not do it. Bitcoin will rise and Venezuelan government will fall and you will win. Just relax, don't panic mate. Relax and wait. Governments like this have no future.