Post
Topic
Board Economics
Re: Venezuela Is Now More Than 50% Dollarized, Study Finds
by
royalfestus
on 21/01/2020, 20:42:34 UTC
Investing in cryptocurrency might require high fund but trading cryptocurrency does not necessarily require high fund. Although bitcoin may look high price to venture into, thats why satoshi can take go round as individual can acquire.Solving Inflation goes beyond the adoption of dollar to settle the economic situation, government do more into production, international exchange, corruption and other economic management policies.
Venezuela had issues with their economy situation, not with trading issues sadly. Usage of dollar helped them alleviate the problem, but without fully adopting it, problems would still probably arise, that is until they are able to manage their own currency, or they fully adopt the usage of dollar in their country.

Poor countries would probably have the ability to adapt to crypto in the long term, just not now. Crypto is considered more right now as an investment, and naturally, only those abled countries could possibly trade them. Especially with the requirement of electricity and Internet access.


This whole real life case study shows that cryptocurrency won't get adopted in poor countries (because of lack of electricty). It will get adopted in rich countries - rich regulated countries.
Am addressing this OP's opinion, I might not quote it