Venezuela UPDATE. 1 BTC is around 88,000,000 Bs. Last two week it was 77,000,000 Bs. (Bolivares). Monthly minimum wage is less than 9 USD. 666 BTC were traded last week using LBTC (down from 819 BTC last week) which is around 46,106,978,636 Bs.

I'm a Venezuelan "living" here. AMA.

Government issued new Bolivares banknotes. 10,000 Bs. / 20,000 Bs. and 50,000. Bs.. 50,000 Bs. are around 8 USD, since the time they announce them and people get them at the banks they have lost 10% of the value.

This after 5 zeroes were shaved from the currency less than a year ago and 3 zeroes more 12 years ago. So it would be 5,000,000,000,000 Bs.

Sources:

https://coin.dance/volume/localbitcoins/VES/BTC

https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/

https://dolarsatoshi.com/

About the minimum wage

https://www.venezuelanews.net/news/260700087/the-president-of-venezuela-raises-the-minimum-wage

40.000 Bs. per month plus 25.000 Bs. as food bonus, total 65.000 Bs. Around 9 USD at street rate and 10 USD at official rate.

About US sanctions:

https://www.brookings.edu/wp-content/uploads/2019/05/impact-of-the-2017-sanctions-on-venezuela_final.pdf

AMA!

Submitted June 30, 2019 at 07:53PM by WorkingLime https://ift.tt/2KPBfq2