Post
Topic
Board Bitcoin Discussion
Re: Venezuela and Bitcoin.
by
evoorhees
on 27/05/2012, 00:46:48 UTC
Sadly there isn't any similar system to the Boleto Bancario in place here. I'd say the only valid methods would be bank deposits, transfers, cash and possibly some sort of payment service via SMS or calls such as Dialcoin offers. Opening an organized exchange here could be an extremely profitable venture, there is a sizeable segment of the population that already turns to online currency exchangers to fund their online purchases, send money overseas, etc. so that's a huge pool of potential users right there.

Pardon me for perhaps being naive... but doesn't Venezuela border Brazil? Would it not be possible to set up a network using BitInstant's Boleto system in a Brazil town on one side of the border, and an exchange in Venezuela on the other side of the border?

Then sell Bitcoins for bolivar in Venezuela, then exchange bolivar for reals in Venezuela or Brazil, then deposit those in Brazil via BitInstant/Boleto to buy more Bitcoins.

I believe Argentina borders Brazil also right? And aren't they also having a bit of a currency crisis? Implement the same system there Smiley