Venezuela update. Last week 505 BTC (DOWN from 681) were traded using LocalBitcoin which is around 420,000000,000 Bs. (Bolivares) (ATH, last week it was 417,000,000,000 Bs.) Minimum wage is around 3,5 USD per MONTH. One BTC is 948,000,000 Bs. from 885,000,000 Bs. last week. AMA.
Hi guys, it has been steady around 2000 BTC per month. It is both ways, using Bolivares to BUY Bitcoin and selling BTC to get Bolivares. In my opinion, there are some miners here, there is people that get Bolivares and want to exchange them to BTC, the own goverment, people that get paid in BTC or USD and use LBTC to get Bolivares.
Banks are closed and ATM only give less than 1 USD per day.
These volumes are only measured using Localbitcoin (LBTC) using their API (Coindance). Big part of that exchange come from Venezuelans that live abroad and send money to their families, miners, people that get paid in cryptos (freelancing) and even the own government. It has been STEADY around 2000 BTC per month.
Other exchanges and other trades were done, but no way of measure them.
Here in Venezuela situation is really hard, some people dont believe that amount is the minimum MONTHLY wage. I work and earn more than that BUT now because this situation my wage was slashed 50% (anyway, the amount is really low, I'm sure with that amount I would be living homeless in Colombia, Peru or Panama for example), usually get some donations from redditors and do some freelancing work (translating mostly) and it is really hard to keep up daily.
AMA Ask Me Anything, any question!
Sources:
https://coin.dance/volume/localbitcoins/VES/BTC
https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/
Submitted April 18, 2020 at 08:58PM by WorkingLime https://ift.tt/2Vi3php
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