Venezuela UPDATE "living" here. 1 BTC is around 154,000,000 Bs (Bolivares). Two weeks ago it was 160,000,000 Bs. Monthly minimum wage was increased today to around 8 USD (it was 2 USD before). 542 BTC were traded last week using LBTC (last week was 642) which is around 84,974,000,000 Bs.

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

Government today increased the monthly minimum wage (which is earned by a big chuck of the population) from 40.000 Bs. per month (around 2 USD) + 25.000 Bs. food bonus to 150.000 Bs. wage (8 USD) + 150.000 Bs. food bonus (8 USD) PER MONTH.

Biggest bank note is 50,000 Bs. which is 2.5 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.

Official rate (Venezuelan Central Bank http://bcv.org.ve/ ) is 19.733 Bs. per each USD.

Sources:

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

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

AMA!



Submitted October 14, 2019 at 09:31PM by WorkingLime https://ift.tt/2BbvEnh

Comments

Post a Comment

Popular posts from this blog

Coinmarketcap are listing BCH sites as BTC

Under here: https://coinmarketcap.com/currencies/bitcoin/ They have links to https://bitcoin.com/ and https://forum.bitcoin.com/ which are no longer BTC sites; they're BCH sites. I'm not good at twitter and don't have many followers but I've tweeted at them here: https://twitter.com/bitplane/status/955918445014585344 Can we raise awareness of this and get them to change it please? Submitted January 24, 2018 at 02:47AM by david-song http://ift.tt/2DtOW70
Read more

15 years of BTC Power Law

5 years ago I made a post in this subreddit showing that BTC is a power law: Price=A*days^n, (days from Genesis Block), n=5.8. Many didn't believe me and said the past doesn't predict the future. Well, after 5 years it turns out that BTC continues its power law behavior with similar exponent. A power law is not another formula or model but the same mathematical behavior behind river formation, mountains growth, cities development, GDP vs population, and metabolic rate. Everything important is ruled by power laws, so BTC. BTC is a force of Nature. Here is the original post: https://www.reddit.com/r/Bitcoin/comments/9cqi0k/bitcoin_power_law_over_10_year_period_all_the_way/ https://preview.redd.it/ygtk3bb1fkac1.png?width=3211&format=png&auto=webp&s=46261e53d34b1d904f72eaf159cfaaf2999290ba ​ Submitted January 05, 2024 at 11:26AM by Econophysicist1 https://ift.tt/sdnkAoG
Read more