As each week I submit this right here too.
*Hello there, as all the time I submit these stats weekly.*
*Final week it was a bit greater, 32 BTC. Nonetheless month-to-month common is round 120 BTC. Years in the past it was over 1,000 BTC for weeks!*
*LocalBitcoins is just a reference as a result of they make public their stats. For certain it isn’t essentially the most used one. Binance is king as a result of their P2P (with Bolivares), AirTM, Reserve and others, sadly they do not make public their numbers.*
*One BTC trades round 250,000 Bs.*
*Alternate price is round 11.70 Bs. per USD (final week was 9.30 Bs.). That is the official price, road price is round 13 Bs. per USD.*
*Not so many zeroes as a result of since 2007, goverment has eliminated 14 zeroes from the forex. One present Bs. would have been 100,000,000,000,000 “previous” Bs.*
*Month-to-month minimal wage is 130 Bs. so that’s round 11 USD at official price and 10 USD at road price.*
*Inflation is “solely” 140% since January, means decrease than earlier than.*
*Individuals use crypto to keep away from Bolivares, receives a commission, pay thingsm change revenue from mining (electrical energy is “free”) and in addition obtain remitances from overseas.*
*Any query, let me know.*
*Some sources:*
[*https://www.reuters.com/technology/venezuelas-economy-regresses-crypto-fills-gaps-2021-06-22/*](https://www.reuters.com/know-how/venezuelas-economy-regresses-crypto-fills-gaps-2021-06-22/)
[*https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela*](https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela)
[*https://coin.dance/volume/localbitcoins/VED/BTC*](https://coin.dance/quantity/localbitcoins/VED/BTC)
[*https://coin.dance/volume/localbitcoins/VED*](https://coin.dance/quantity/localbitcoins/VED)
[*https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/*](https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/)
[*https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/*](https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/)
[*https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/*](https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/)
[*https://localbitcoins.com/country/VE*](https://localbitcoins.com/nation/VE)
[*https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/*](https://www.bloomberg.com/options/2016-venezuela-cafe-con-leche-index/)
Is it possibly lower because people are holding onto their BTC because of the exchange rate or is it due to lack of interest? Is 11USD better or worse than the average monthly minimum wage?
Maybe they’re just using better P2P platforms to trade.
Venezuela was wreck when the oil price crashed. Now that the oil price is stronger than ever, doesn’t it help Venezuelan ?
minimum wage is sooooooooooooooooooo dumb
govt print money out of thin air, can’t even give value to the currency. In the end, people give it value by btc, cryptocurrency. In the end govt failed. In the end, ppl value their own business by BTC .
I’m looking to take a surfing vacation to Caracas area. Looking for a nice/safe hotel which takes BTC as payment for room. Any suggestions?
Is it because they have now allowed for partial dollarisation of the country so people don’t need Bitcoin that desperately?
This is excellent thanks for taking the time to do it. What % of the population holds any amount of Bitcoin? And then what % are using it for day to day payments?