Post
Topic
Board Economics
Re: Can bitcoin help rebuild Venezuela? - Darb Finance
by
Jating
on 17/09/2019, 11:02:20 UTC
according to the news that I read, a bitcoin-based ATM was installed in Venezuela on September 10 yesterday. this proves that Venezuela is one place that is suitable for the development of bitcoin. This will facilitate the use of bitcoin, bitcoin cash, and dash on Venezuela. for more information about this, you can read in https://cointelegraph.com/news/after-multiple-false-starts-venezuela-may-have-its-first-bitcoin-atm
To be honest with you, the information you read always appears a lot every day, apply crypto and bitcoin ATMs, launch bitcoin's ATMs somewhere but these stories really don't have a lot of convincing evidence, mostly appear for a short time and then people will forget it, these bitcoin ATMs are still operating until now or it has stopped working, it is a question without an answer. Therefore, do not rush to think that Venezuela is a suitable country to develop bitcoin, and bitcoin doesn't rebuild a country, it just builds assets for people who know how to use it
Venezuela countrie use bitcoin because it is in a difficult position after their currencies have hyper inflation, I think Venezuela should improve the government system first, so that there is no severe corruption. with a healthy government I think it will be easier to improve the country's economy
Removed Maduro in power and then we will take if bitcoin can help rebuilding their economy.

Today, we are seeing the bitcoin is really helping them survived. I read reports that it needed like $15 billion to rehab the country, so how can bitcoin support that? There need to be some economic stimulus at some point and help from other countries like US.

Bitcoin can still be used as a tool, but to say that it is the miracle that Venezuelans are prying to help them recover, I'm not sure about that.