Quote from: Twentyonepaylots on February 23, 2021, 10:28:15 PM

Quote from: uneng on February 23, 2021, 06:06:47 PM

I have no doubts bitcoin can help common citizens with their daily needs in Venezuela, but I totally disagree it can smash socialism there. In fact, crypto currencies are making the socialism maintenance in Venezuela, because a big part of the citizens' income is going to pay taxes that fund the government and all its employees, the *system*.
You know there are fast foods and probably other stores there accepting crypto as payment method without any interference from the government, what means it is not a threat to Maduro. Actually socialists have nothing to complain about bitcoin or crypto, because that is the way people are bringing money from outside to their country.

Quite possible, especially when the upper echelons in the government aren't using their very own currencies as well, so there's not much more that bitcoin can do.

I don't doubt some government's agents use bitcoin in secret to avoid the national currency devaluation and to grow their patrimonies efficiently. But anyway upper echelons are fine with or without crypto currency, as they are well paid despite inflation out of control.

Quote from: stompix on Today at 03:03:44 PM

I think the focus should be more on if and how the average Venezuelan is changing his habits and his way of life because of Bitcoin, but I doubt there is a serious impact, as I said before, in order to use money you need money, and that's what the average citizen there lacks.

When comparing the total population to the number of bitcoin adopters there won't be a significant number, but many citizens are being benefited indirectly, as there are charity organizations in Venezuela receiving foreigner donations in bitcoin and altcoins. And others are finding opportunities online to be paid in bitcoin, not relying on the country to earn money from.