Hey guys
I'm from Venezuela. Invested less than 10% of my savings in crypto a year ago.
I own a production company here and we provide our service to companies outside. So I get paid in USD most of the times.
Right now I have 90% of my money in crypto. I own a bank account in the U.S. but I do believe in crypto for the long term.
I can answer your questions about Venezuela economics and about Petro coin.
Go ahead If you want to.
Como están las cosas en Venezuela? Que lo pueblo dice sobre Petro ahí?
>sorry for any mistakes, Spanish is my fourth language
Do you have relatives that fled to Panama or Colombia? I work as a corporate training professional in Colombia for several corporations including Galderma. They've abandoned Venezuela and moved their staff to Bogota. They say everything is still black market (i used to sell gringo bucks there for bolivars and spend them on whores) what will happen to the black market currency trade now that the petro has been introduced? And if it's based on oil reserves, and everyone knows the reserves aren't what they say they are, what do you think that crypto will be worth in the long run free of market spec (actual worth based on the oil that exists)? Also, what is the sentiment towards the petro? Will the populous dump for BTC first chance they get? And will Maduro get
Ghaddafi'd by the Estados Unidos? good luck user
So I heard you guys have oil.
Very bad.
Just a meal in the streets is almost full monthly salary.
Example. I had lunch today for 500k BSF. Salary is 700k BSF a month.
All is public. Government put lack of effort into fixing things, like companies owned by them, cities, etc.
They have all the basic services, water, electricity, internet. There's a couple of options for internet services apart of the major companies (which are owned by the gov), but you'll have to pay much money for them.
I pay 3millions BSF monthly for my internet, since the goverment public company isn't workig well now. Also, the internet cables were stolen. Not in home, but the ones that connect each building to the core. People steal these because the copper they are made of. So they go and sell it in Colombia.
I'll leave this answer here. You can see most people is doing bad. If you have USD, you can have a nice life here I guess. Insecurity is a chaos, but you can go out and enjoy good meals in restaurants. Of course, you need a lot of money, a lot. Restaurant budget for two is around 2.500.000 BSF total. That's around 13USD.
I have family in Valencia. How hard would it be for my family to convert bitcoin I can send them to cash ?
Sentiment is negative, I think.
Can't talk for all. But I just hear people confused.
There's not a lot of adoption on bitcoin right now. So imagine now people who never heard of cryptocurrencies. They are confused, they don't know how it works.
But it's helping people understand. Now (maybe) there's more people willing to save their money in Bitcoins.
People used to save their money into amazon gift cards, If they don't have accounts outside.
Also, Paypal is a popular option here. But problems with account confirmation makes it complicated for most when they receive big amounts of money.
About people leaving: yeah I know a lot. I just came back from Europeo, I was visitng family.
Most people is going out or want to. December was particularly a month where a lot of people went out of the country. Streets are emptier now. And yes, companies are migrating to other countries... I guess most to Colombia.
Also about US killing Petro, not sure.
I personally don't people in Petro. It's a coin with max supply but coins backed by oil. So it doesn't make sense at all because free market won't be involved in it. That means one persona can buy all their tokens/coins If it's capable of.
Petro started as an token but will be migrating to coin with own blockchain in a couple of months. You will be able to mine it. More and more problems If they do that, since they'll need to take care of confirmation and scability problems If that's the case.
good luck user. I'm not Colombian, but there will be an election here and people fear that one of the presidential candidates is similar to the chavistas. if shit goes sideways here because of the election i can always leave but fuck the socialism. good luck user, godspeed
Not much. Internet is open here so they can trade it on localbitcoins for bolivares easily. There are options.
Bitcoin its not or was not popular here before, as it is in other countries, but I'll admit people with money invested in crypto a couple of months before Petro. Example: I know company owners were buying big amounts of Bitcoin, around last year, in august.
So maybe a lot of money moves out and in from Venezuela. But mass adoption? No.
When you finally have your revolution / civil war can I buy a huge amount of land for a cattle ranch for pennies on the dollar?
Sorry my mistakes.
*I personally don't believe in petro coin.
Thanks, user.
I see. Some people were commenting earlier today on biz that shorting the Bolívar was an almost guaranteed way of getting money on Forex and such.
Why is it so hard to overthrow Maduro? I too come from a third world country where our people recently overthrew a socialistic president for doing much less than what el socialista del bigotón did. The impression I get from reading the news is that the venezuelans tried really hard, but eventually the government stole their will to fight for their freedom. Is it true? It's very sad if it's the case.
Isnt it a good place to run a business because wages are so low?
depends the bussiness
Good thing is that, If you own a lot of money, you can actually open a restaurant, hotel, or even make a building here with a smaller budget compared to most countries. That's because USD is worth so much, and BSFs and worthless.
What goverment was or is trying to do, is to subsidize all basic services. Oil here is worth less than a dollar, no joke. You can fill a tank for a couple of cents.
Electricity bill is worthless too. You pay almost less than a USD.
Water, same.
That's to fit it all into their imaginary salary of 700k Bolivars, which is worth around $4 USD.
So, imagine now a company that needs to import materials from outside with those monthly payments. That's nothing to re-invest in itself. It's a company receiving no profit.
That's why services here are horrible. Example, electricity went off two days ago for almost 24 hours in +70% of the country. Only Caracas, which is the capital, was working ok. That's because its the major city of the country.
No because people are so hungry that they don’t have energy left to do good work
Plus socialists can confiscate your shit
how true are the rumors about smartcash in Venezuela?
Are there any tourist safe parts or is it all tucked?
Because they own the miliary basically. Try to overtake them? They own guns. Guns are banned here, so normal people can't fight.
Only way is to get the military to take the gov by brute force. Won't happen, since Maduro instructed all militaries to workship them.
People is scared. Poor people is scared too. And ironically poor people is big % of the people who supports their government.
Gov is even giving special coupons on holidays for doing nothing. Just enter a website of the gov, register and you'll receive a monthly salary from doing nothing (700k BSF).
Imagine all the money they actually have to print to do that. Making BSF even more worthless.
Shit is crazy here.
Why the fak aren't you getting out of Venezuela? Especially if you already have money.
Why don't you genocide the indios and niggers there? They ruined everything demanding gibs. Free votes for Chavez Frias
Also, when is it going to fully collapse? Like electricity out permanently, massive food shortages, millions of people dieing?
>Why don't you genocide the indios and niggers there
killing 90% of the poblation, yeah user apartheids are so easy
What have you heard so far about the infrastructure to be put in place for mass adoption of the Petro? Like are they going to have credit cards and card swipers for transactions, or mainly via smartphones?
I'm thinking of leaving because electricity problems... but I get USD as payment so life is cheap af here.
Not sure. Hard to say. As food gets harder to get it'll get easier to happen.
Electricity is bad. Petro does not have an app. Infraestructure seems to be horrible atm. Petro ICO is a token so for now any ETH wallet or NEM (still uncofirmed) it could work.
Oh fuck off just had a black out. Electricity went off.
Please get your commie nigger apes out of this country.
t. colombia
Where are you from?
Tell your government to get out of his
>he believes what the Venezuelan government says
What’s wrong with wearing glasses?
I agree lot of fucking apes in Venezuela spreading their commie bullshit.
I am OP by the way.
Kys newfag
How many people are leaving the country?
Where do they move to?
Crees que maduro pierda las siguientes elecciones y cambie el país?
t. Mexiblanco
It's not about glasses, it's about the numale open mouth 'smile'
Mostly you Colombia or other Latin America countries. Not sure how’ve many but most are. Main topic now for most people is about leaving the country.
Nope.
Opposition is not going to participate in elections so far. And there are not other candidates that can compete with Maduro’a party. Opposition is not going to participate because they claimed the government to be abbreviated dictatorship, so if they do compete on the elections that’s not going to make a lot of sense. CNE, which is the electoral power of the country it’s controlled by the government. Not trustworthy.
Venezuelan here too. What coins are you holding?
I am not from Venezuela sorry