Tag: Bolivar

In Venezuela, Payments Are Based on The Bills’ Weight Rather Than Their Denomination

The financial situation in Venezuela is getting out of hand rather quickly. With hyperinflation plaguing the country for quite some time now, a solution remains elusive for now. Printing higher denomination banknotes is not providing to be a success either. In fact, weighing cash to pay for goods and services seems to be the new course of action–a rather worrisome development, to say the least. The Weight of Cash Has …
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Venezuela Faces 1,640% Inflation In Next 12 Months

It goes without saying the economic situation in Venezuela is anything but reassuring right now. The country has been plagued by food shortages and economic mismanagement, causing significant inflation. Experts predict inflation rates will soar to 1,600% in 2017, which is insane. But at the same time, this could be a turning point for Bitcoin. More Inflation For Venezuela In The Next 12 Months Living in Venezuela these days is …
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SurBitcoin Sells Bitcoin At 26% Below Global Market Average

There are interesting things happen in Venezuela right now, albeit it may not be overly positive news for Bitcoin. SurBitcoin, the country‚Äôs largest cryptocurrency exchange platform, has seen a 26% price decrease for Bitcoin all of a sudden. Some sell orders post Bitcoin offers at nearly US$200 below the global market average. Is Venezuela Cooling Off on Bitcoin? It is difficult to answer that question, as it seems some people …
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Inflation Strikes Hard In Venezuela – Bitcoin Offers A Way Out

Some people still keep stating how there is nothing wrong with the financial ecosystem we live in today, and to an extent, they are probably right. However, simply because certain issues do not affect one directly, that does not mean everything is working as intended. People in Venezuela will gladly tell you how they are in dire need of financial change, as the country is facing over 700% of inflation …
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