Post
Topic
Board Economics
Re: Could Bitcoin Smash Socialism in Venezuela?
by
macson
on 26/02/2021, 09:25:40 UTC
snip

this is good writing, i like it.

discussing Venezuela emmm there will be no end.  The problems that stick around Venezuela are politics and corruption.  I idly typed "Venezuela's wealth potential" on google and was surprised at the results I got, Venezuela is not a poor country, actually just a corrupt country (complicated bureaucracy and corrupt government).

https://www.weforum.org/agenda/2017/09/venezuela-was-once-twelve-times-richer-than-china-what-happened
https://www.nationsencyclopedia.com/economies/Americas/Venezuela-POVERTY-AND-WEALTH.html


talking about whether Bitcoin will save Venezuela, I don't think it will be if CORRUPTION is still a disease there.  In general, Bitcoin is indeed more suitable for individual or corporate investment, but if a country invests in Bitcoin it's not difficult either, it's just that any profits created are shared with citizens for education and health costs because that's the most important thing.

socialist ideology in Venezuela seems ineffective because of the corruption and low levels of human and government resources there.