Venezuela UPDATE "living" here. 1 BTC is around 190,000,000 Bs (Bolivares). Two weeks ago it was 205,000,000 Bs. Monthly minimum wage is less than 2 USD (it was 30 USD a year ago). 489 BTC were traded last week using LBTC (last week was 550) which is around 104,006,582,000 Bs. (ATH)

I'm a Venezuelan living here. AMA even if it looks dumb, you can also check my post history.

Government gave some money bonus (free bonus) around 10 USD. Public services like electricity, gasoline and tap water are owned by the government and are free, service is really bad with blackouts daily.

Biggest bank note is 50,000 Bs. which is less than 2 USD. You need to use debit and credit, bank transfer, cryptos and USD to pay anything.

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.

MONTHLY minimum wage IS 40.000 Bs. , which is LESS than 2 USD per MONTH. Official rate (Venezuelan Central Bank http://bcv.org.ve/ ) is 19.715 Bs. per each USD. So 40.000 / 19.715 is 2 USD.

Sources:

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

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

About the minimum wage

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

AMA!

Submitted September 22, 2019 at 05:11PM by WorkingLime https://ift.tt/2M7c4h8