so the Bolivar just plunged (and I mean even more). Venezuela is on the verge of civil war. but, people still need food and what not, and their is still an economy. evidently, bitcoin is being used this time around instead of US dollars or euros or some other currency like they have in the past
I use to think bitcoin was more gimmicky than anything; but I bet you the next time a country is about to economically suicide itself that many of the people will turn to bitcoin for their financing needs.
I base this for 3 reasons
1) bitcoin is not a backed currency by any government; making it relatively hard to track
2) and 3) are related, in that it is a digital currency and is not tangible. this makes it easy to carry and easy to smuggle in
new rules apply
I use to think bitcoin was more gimmicky than anything; but I bet you the next time a country is about to economically suicide itself that many of the people will turn to bitcoin for their financing needs.
I base this for 3 reasons
1) bitcoin is not a backed currency by any government; making it relatively hard to track
2) and 3) are related, in that it is a digital currency and is not tangible. this makes it easy to carry and easy to smuggle in
new rules apply