Why Bitcoin? This month, two years ago, six zeroes were removed from the Venezuelan currency, the 3rd time in 15 years, at midnight 1st Oct 2021, prices and bank accounts were slashed six zeroes. 1,000,000 became 1 by law, since that day as today accumulated inflation is 800%

Hi, as you know I'm Venezuelan living here, have been posting for years!

In October 2021, two years ago, six zeroes were removed from the currency by law, one USD was 5,000,000 Bs. (Bolivares). Everything was priced in millions, a big purchase at the supermarket could be 1,000,000,000 Bs. (200 USD).

This was the 3rd time they did that.

First they removed 3 zeroes in 2007, then 5 zeroes in 2018 and the 6 zeroes in 2021. So a current "Bolivar" would have been 100,000,000,000,000 Bs. before 2007.

Since that day inflation has reached 800% and the exchange rate went from 5 Bs. per USD to 35 Bs. per USD.

I did post here two years ago and posted the before and after in my bank account,

Went from 70,473,434.12 Bs. to 70,47 Bs.

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Before

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After

Some people have the balls of blaming the usage of crypto even living in these kind of countries.

Any question let me know!

Submitted October 10, 2023 at 10:13PM by WorkingLime https://ift.tt/ItQhCmU