Post
Topic
Board Economics
Re: Bitcoin is one of the saviors.
by
The Pharmacist
on 15/10/2018, 13:58:21 UTC
based on https://www.livebitcoinnews.com/venezuelans-turn-to-bitcoin-and-online-gaming-to-survive/
when government policies make them miserable, they find ways to survive.
I can tell this is going to turn into a shitpost-filled thread very quickly, but what the hell, I'll post anyway.

Venezuela is obviously in a hyperinflationary crisis, but I'm not sure how much they're relying on bitcoin to save them.  I have read articles like the one OP quoted above, but it's never clear when I read them to what extent Venezuelans are actually using crypto in lieu of their local currency.  I'm sure some of them are, but I would imagine that the US Dollar is also popular, and I think there are some South American countries that use the USD alongside their own currency.

As I don't live in a country being rocked by hyperinflation, I can't say bitcoin has been my "savior" by any means.  All the money I've earned from signature campaigns is still less than I make with my real-life job, and spending bitcoin for practical things can be a pain in the ass since not a single one of my local merchants takes bitcoin--if I want to buy groceries, gas, pay my rent and utilities, or any other daily expense, I have to use fiat. 

I'm sure bitcoin has changed some people's lives, but I also think idiots tend to exaggerate its effect on them for the sake of writing something positive for a signature campaign--hence why I said this thread will rapidly become a spam fest.