Post
Topic
Board Economics
Re: Why are Venezuelan not switching to Bitcoin?
by
Barbut
on 04/12/2016, 13:48:01 UTC
Two arguments here stand out. How on earth can people abandon fiat for bitcoin when:

1. Blockchain simply cannot handle the extra 20 million transacts that will come daily (very conservative estimate). Should people wait 2 or 3 days to ensure they aren't victims of double spends?

2. Should electricy and internet get disrupted (a lot for more than half its population) are people going to simply pause trade and commerce?



Beside that people don't understand how many complications can this switching bring to people. What will happen with all the people without internet, and in far villages without any signal? If its easy for us here, that doesn't mean this will be easy for millions of people who live and work in Venezuela. This switching can create chaos in their country, they first need to understand blockchain in order to adopt it.