Quote from: Sithara007 on October 04, 2019, 08:43:12 AM

Quote from: juperos on October 03, 2019, 05:30:10 PM

Quote from: tadpole_bitfrog on September 28, 2019, 06:23:05 AM

According to the latest information from Bitcoin.com, they have reported on this. I don't know if this is a bad effect or a good effect on the market? Everyone can make a point here.

I think this is a bad sign. What do you think about venezuela government always holding a lot of money can fluctuate by 20% - 30% in one night?
No financial specialist will solve this problem and make appropriate financial policies for the country in the future.
In my opinion, the Venezuelan government is making a farce and doesn't want to redevelop the country anymore. Sadly sad for innocent people.

First of all, the Venezuelan government is not holding any cryptocurrency. And I don't think that holding cryptocurrency will give them any additional advantages, as long as their economy remains in tatters. What they need to do is to clamp down on inflation. And that is not going to happen anytime soon, because they are printing the fiat currency without any limit to make salary payments to the government employees. If they stop printing the money, then the inflation my ease, but the government employees and the army will rebel against them.

And I can't think about any advantages if they decide to hold Bitcoin or other cryptocurrency. The problem with Venezuela is that they are unable to afford imports of medicines and essential commodities, due to a fall in the Forex reserves. And how Bitcoin is going to solve this issue, when none of the sellers will allow them to make payments in BTC? On top of that, if they use Bitcoin widely then the value of the national currency (Bolivar) can slide down even faster.

Well, I am not very sure about the reality but the news is in the air that Venezuelas central bank is holding bitcoin and if we think logically then it appears to be true. No matter how rich or poor a country is, the officials are never poor and they are also never behind times. The major concern should be whether the officials of Venezuela going to utilize bitcoin for the betterment of the state or not. Obviously, bitcoin can bring change economically.