Venezuela update: After knocking off five zeroes, one BTC is trading at BsS. 550,000. In the last 24h 56 BTC were trading in LocalBitcoin. That gives a exchange rate of 81.5 BsS./USD, which is higher that the new rate set by the goverment of 60.25 BsS./USD.

By the way, CoinDance still doesn't work because they haven't updated the new iso code of the new currency (It was VEF now it is VES).

I used www.dolarbeta.com bot to get that info (i think the creator is a redditor).

If they allow the "free" exchange of crytos here (looks like they want to), they will set the price of the cryptos. For example, the exchange rate they use is 60.25 BsS. / USD. Using the price of 6,600 USD/BTC. that gives us 397.650 BsS./BTC. But at localbitcoin it's trading much higher (at least 25% more). They insist in controlling the prices OF EVERYTHING even the crypto.

Inflation keeps rising, even the government had to increase some prices like public transportation (they increases are from 0.002 BsS. to 0.5 BsS. and even more.

I'm a bit worried because for now the gasoline is free, but.. Soon they will increase the price to "international levels", so around 0.6 USD per litre maybe.. I won't be able of using my car (Remember, starting next week new minimum wage per month will be 30 USD).

They want all the people to register in a system called "Carnet de la patria", if you do so, you can receive some kind of subside to buy gasoline. I don't want to register because I think it's a method of political control.

Submitted August 26, 2018 at 07:12PM by WorkingLime https://ift.tt/2LtC6sC