Post
Topic
Board Economics
Re: First Bitcoin ATM in Venezuela
by
Pearls Before Swine
on 05/10/2019, 15:05:40 UTC
Currently you can purchase BTC and Dash by depositing dollars in the ATM (not Bolivares), and is allegedly not capped per operation (subject to ATM’s wallet balance). 
Very cool and thank you for updating this thread.  I have not been following the situation in Venezuela like I should but it makes perfect sense that the ATM only takes dollars.  Is the bolivar still hyperinflated? 

I just wonder how much use the one machine is going to get, because it has been my impression that the people of Venezuela had not turned to bitcoin or any other crypto as an alternative, and I bet that there won't be many people wanting to use what few dollars they have to buy something as volatile as bitcoin (or dash for that matter).

Are there any Venezuelans here who can weigh in on this?

No atm and no coin is going to save that country or its people
True, but I don't think that was ever the point of it.  The change has to come politically first, and economics second.  Bitcoin isn't going to help either one of those things, and adoption of crypto by Venezuelans can only come after the country is resurrected.  I wish them the best.