So please, the fact that some venezuelan hners say they use bitcoin doesn't make bitcoin a real valid alternative and widely used
Venezuelans right now only care to protect against the 5000% yearly inflation and they do it with the dollar, they don't care _for now_ about dollar losing value when Bolivar loses 5000%
I'm not Venezuelan or in Venezuela, but I definitely know Venezuelans here in Argentina who send Bitcoin back to Venezuela. But it's clearly not widely used—the best estimates are that there are only a few billion dollars per year in total Bitcoin remittances, of which under US$400 million (per year) are to Venezuela, and there are 5 million Venezuelan expats. And Venezuela has almost 30 million people. So clearly only about 2%–10% of Venezuela's population uses Bitcoin at most, and many of them only use it to provide "send money to your family" services to and from other Venezuelan expats—who may not know or care that Bitcoin is involved.
That certainly doesn't add up to "widely used" but it's not "absolutely 0" as you said in your other comment either.
When I said, "Bitcoin is very popular in Venezuela" I meant relative to its popularity in other countries, not relative to the Venezuelan population as a whole. I mean, if I said Emacs was very popular in Venezuela, that wouldn't mean that every other moto-taxi driver could give you Elisp tips. It would just mean that more people used Emacs than VS Code.
Where does this hypothetical 2% of Bitcoin adopters live? Maybe not in Caracas where it's easy to find someone to exchange dollars with. Maybe they live close to the Colombian border, where they trade with drug traffickers? (Though why would Colombian drug traffickers be Bitcoin buyers rather than sellers? Maybe I need to think this through better.) Maybe they live in rural areas? Probably one of the P2P market sites has a map.
If you had to flee Venezuela, maybe through unsafe areas where bandits were operating, would you rather be carrying your savings in Bitcoin or in dollars?
Hey firekvz, very interesting to hear a take on crypto from someone who actually knows what's happening on the ground. I was wondering if you'd be interested in having a chat for a policy paper I am working on. It would be beyond helpful because as you said the media and a lot of major research paints a very different picture.
At some point yesterday, BTC/USD pair was trading up to 400$ lower than the BTC/USDT, that should be enough to tell you that a lot of people don't really want the USDT anymore and were willing to pay a 400$ premium to get real USD, it will start getting ugly at some point
How come you just come here telling that deposits in bitfinex creates USDT
But Paolo himself post that all the usdt minted is 'tron replenish' everytime whale alert tweets about 800,000,000 USDT frwshly minted
So, basically, in your intentions to defend USDT you are even contradicting what its own CEO says...
It's also funny how tesla 1.5b investment and microstrategy few millions buy are to be 'celebrated' as big and huge, yet you are trying to convince us there is people depositing 800m daily into bitfinex?
US equities are choosing to make a big deal out of something benign at fairly small amounts. The corporate debt market is massive with almost all blue chips routinely issuing short term debt that dwarfs anything Microstrategy did, for completely ambiguous purposes and the market does not care as long as its paid back. 100 billion $ worth of US commercial paper was issued just in the last month with no fanfare whatsoever and no disclosure on what the proceeds are for. Microstrategy’s dabbling in the corporate debt markets is only news because the CEO wants it to be.
The volumes from a large crowd that can also include institutional can very easily be large.
A recent example is the Saudi Aramco IPO, particiption in that IPO used Saudi retail investors and Saudi payment rails and resulted in $25bn in purchases. That one country’s internal financial system was able to handle it and there was just that much participation.
Tether doesn't have the transparency we will want. Choose a different product for that reason alone, and there are options now.
But assuming the worst, out of the universe of assumptions, is just as useless as assuming the best. The western world says “all this is improbable so lets assume it is impossible”, the eastern world doesn't seem to care and there are examples where much larger sums of money could show that Tether’s growth is not improbable or impossible.
The point is that $30bn of deposits (whether some of that is counted incorrectly on multiple blockchains) is not noteworthy enough on its own to reinforce your conclusion. Many random brokers have that. If they had a stablecoin that was minted upon deposit, you would see the same thing. And here, institutions also use Bitfinex and $30bn is actually then a reflection of how small the crypto markets are.
I agree with you that GP's post hardly makes any sense but
> ... yet you are trying to convince us there is people depositing 800m daily into bitfinex?
800m daily would have meant 300 bn USDTs created in a year. They create 30 bn in a year, no 300 bn. It's huge but you are one order of magnitude off no?
Anyone who got any position between March and April is up by at least 5x, throw some bitcoin there and some options playing (that went full mainstream) and you are up by at least 10x
Personally, I wish I had more money available to throw at robinhood during march, I have yet to calculate my % but I believe I’m around 18x.
If only I had $370M in cash to buy stuff during those wild months.
the last time i got an sms from a real person was mid 2018 and it was my mom telling me that she had no wifi thus could not answer my whatsapp messages
after that, i have received around 2k SMSs, all of them are just notifications from bunch of services (banking, airlines, etc) and 2FA from another bunch of services.
Has SMS really died as a form of communication for most of the people?
Also, I saw some news about RCS in android, I saw my pixel 4 got it, i set it up but i had noone to use it with
I keep using a lot of text messages: I have many people with different type of chat apps, or no chat apps at all (old gen), so the only way to reach everybody is doing that instead of juggling with different services.
I don't use whatsapp, and don't have an iPhone, so no imessage. Most people don't use Telegram or Signal which I do. Not to mention a lot of geeks have their favorite way of being contacted (slack, wire, etc).
And of course all that will have change in a few years. Before you had to have facebook. When in Asia, it was lime or something else.
As soon as you have a lot diversity in your life, text messages are the only thing that works all the time, plus they are free in my country.
In fact, iMessage is basically sending text messages without the user knowing they do if the other hand is not an Apple device.
In the end, I suspect text messages will still be here in 10 years, and all people around me asking to subscribe to yet another chat service will have change 3 times (and lose their contact list in the process).
In America for people in their 30s it's the primary method of communication for personal use. I try to push Signal but haven't had much success. It's Slack (or Discord) and iMessage/SMS for the most part. I do communicate internationally though and that's nearly exclusively through WhatsApp.
Younger generation seems to be more on Facebook Messenger, Snapchat, and Instagram DMs.
I’m in the US and the only people I know that use WhatsApp or the like instead of sms/iMessage are those who came from another country and use WhatsApp to talk with their friends and family back home.
Most people in my circle refuse to use whatsapp because of privacy concerns or just simply that they don't want to use any facebook apps.
Since there is a mix of messenger apps out there that everyone uses, SMS is always reliable, especially when you interact with many different people whose preferences you do not know.
Apple killed internet chat by effectively disallowing community maintained clients on the app store.
So your choices are convince all your friends to use a proprietary app/service (with all the downsides) or put up with mms group chats which are free in the US anyway and don't require setting up accounts. I've struggled with this for years and until apple un___ks iOS I think it's going to stay the same.
The publisher of the app is the only one allowed to run push notification servers. The privilege of doing this costs $100/year and you're not allowed to sign other people's keys to allow them to do it. Since most chat apps were maintained by volunteers they're unlikely to have the time to dedicate to running a service like this which means that pretty much have to be paying someone in order to have usable chat apps.
Bitcoin adoption in venezuela is Absolutely fake/nonexistant
Bitcoin is only used as a bridge for exchange VES:USD a.k.a money laundering from corruption and drugs, with some remittances transactions caught in the middle of those laundry waves.
there is absolutely 0 adoption for bitcoin in Venezuela, Im a bitcoin enthusiast since 2011 and I hold bitcoin and I live in Caracas (capital) and move around all tech communities and yet to see a real crypto transaction. Some people used the “get rich quick” schemes from DASH and other silly alts and tried to make a big media (international media) about Venezuelans using bitcoin to try to money grab international money into their scams, they manage to convince some stores and local food chains to “accept” their silly cryptos but of course no one uses, yet they got the money from their international sponsors trying to force adoption in the country.. there is hillarious threads on DASH forums about it
You can read my other post on details on the only use for bitcoin in venezuela, that big money laundery called localbitcoins
>Bitcoin adoption in venezuela is Absolutely fake/nonexistant
This is completely and absolutely false. I personally know hundreds of (mostly very poor) Venezuelans who absolutely depend on bitcoin and other crypto currencies to survive. The people I'm personally familiar with eke out a few dollars creating content on platforms like Hive and Steemit, trade their alt crypto for bitcoin, pool it crypto together, and have it sent to Venezuela in small bundles where they collect it and use it to supplement their very meager incomes.
>You personally know hundreds of people there? That seems like quite a lot. How did you meet them?
As an active member for years I've chatted and interacted with them for years and gotten to know many of them quite well.
>Also, I'm not sure I'd call that significant Bitcoin adoption if their only use for it is as an intermediary to exit a different cryptocurrency.
Why is that so? As far as I'm concerned (as an early adopter of bitcoin and other crypto), Bitcoin's primary use has always been to fill the void when government-sanctioned currencies and financial systems fail. Without Bitcoin these poor people would be unable to cash out the fruits of their creative endeavors - its absolutely critical. Different people use Bitcoin for difference purposes, but none of these purposes is inherently less legitimate than another.
The government needs to be replaced. This is the false promise of bitcoin. As long as the government needs to be replaced you have much bigger problems than the currency. As soon as the government is replaced, you no longer have to worry about the currency.
Bitcoin always has been, and always will be, a solution in search of a problem.
Forget Venezuela for a second and ask yourself how Bitcoin is helping the North Koreans.
They print USD. And perhaps buying methamphetamine -base-products from China or whereever is more plausably deniable or less WONG or whatever than f around with chinese bills. Whatever they do, they're doing all kinds of shit. And they print USD, or has, and, everything else they do isn't really great, all the time. They counterfeit USD and probably tons of other shit. All the 'coinage' in paper-form from everywhere around the country or the world probably, bar the 3d and biometric and advanced shit probably. It's all shit over there man. In terms of the governance, governing, it's not good!
The point is that yes, an authoritarian government can definitely just shut down bitcoin, so authoritarian government resistance is not a feature of bitcoin.
The best way to deal with devaluation is just, spend the money instantly, is not really that hard, people barely get Venezuelan Bolivars (minimum wage is 3$ month equivalent) and like 90% of all transactions are already done in USD
So people really don't hold venezuelan bolivars for more than 1 day, savings in bolivars doesnt exist at all in this country.
In case you actually need to just save the money, you just trade it (it takes barely no time) for USD and hold the usd either in cash or in some usa bank (most people have access to them) or paypal.
So, the unofficial "forex" market is always there..
BTW this might sound funny but with only 450million USD you can buy the entire M2 in venezuela. So yeah, hyperinflation might be solved really easy whenever we actually get a new goverment
Thanks for this. Given the level of ungrounded Bitcoin hype that's always going on, I'm not surprised to hear it. Once again, Bitcoin turns out to be mainly useful for light financial crime.
You are all missing the the trend over the last 7 years for bitcoin is to create a digital asset that is a store of wealth. To say bitcoin is a payments system in the sense of cash is to miss the executed tech roadmap where cheap one off transactions is a secondary concern (not bitcoin core's). Listen Saylor talk about MicroStrategy's investment in bitcoin. He is very clear that is a store of wealth and appreciating asset on the books, not a payment rail for MicroStrategy subscription base.
Currency has more than two functions. Transferring wealth is not the same as paying for goods, and storing wealth is not the same as holding a speculative asset class.
Bitcoin is volatile. Holding it is more like holding gold, not USD.
Bitcoin is very easy to move across borders. Moving it is much more like a bank transfer, than paying for a pizza.
The point is the commenters here on this thread listen to too many youtube crypto channels for an accurate analysis of what bitcoin is and wants to be.
Another fellow Venezuelan here, this guy points are actually wrong and he's just using the momentum to prove some point related to bitcoin that is not true
Before hand, I would like people to know that the current VES:USD rates are the following:
- Official rate: 1.107.198,58 per each USD [1]
- Unofficial rate: 1.027.812,89 per each USD [2]
So now, The way that remittances work in Venezuela is pretty simple, let’s say a person A, wants to send 100$ to his grandma in Venezuela, and Person B has Venezuelan Bolivars.
Person A gets in contact with person B (or viceversa), they agree on a rate based on the 2 rates i said before, person A sends the 100$ usd to person B and person B sends the Venezuelan Bolivars equivalent to person A grandmother. There is always a factor trust on said trade/ remittance where someone has to send the money 1st.
Now, this exchange for the USD side is USUALLY made using Zelle (in the case of USD remittances) but its also done a lot in actual cash USD, it can also be done in any other method such as Paypal, AirTM, Cashapp, Venmo, etc.. it could even be in hello kitty coins if person A and B agrees. It doesnt really matter.. As for the venezuelan bolivars parts, its always done in venezuelan banks.
What the poster here says in point (1) its wrong, you can use W.U, MoneyGram to send money to Venezuela, it uses the official exchange rate, thus, you don't have to go to colombia to send money to venezuela, remitances using those services are working online (they deposit to your bank), there is also fully operational exchanges like zoom casa de cambio, that will take remitances from different companies worldwide. [3]
So this is my point. As I say, venezuelans do not need bitcoin, they could trade even hello kitty online coins or whatever any other method that allows them to send some value worth. Directly, they just use Zelle or cash, some others use paypal or whatever they want.
So, bitcoin doesn't really benefits Venezuelans, the only thing that benefits venezuelans is the localbitcoins escrow service, but this is not because its cripto or because its bitcoin, it's just because noone else offers an escrow service to sucessfully exchange currency, that's pretty much it. Venezuelans just lack some place to properly exchange money it doesnt need bitcoin
In fact, if you go ahead and check localbitcoin prices for exchange between VES:USD, the rate is always worse, you can check this site that tracks the rate on real time [https://dolardeverdad.com/]
Adding to this, there is another layer to this, it's the fact that it's really hard for Venezuelans to convert bitcoin into USD, not only because we are not welcome on sites like coinbase.com
Now, you wonder right now, how come there is a lot of bitcoin being bought in venezuela's localbitcoin market, now I will answer you, it's plain and simple money laundering, that's it, there is drug dealers, corrupt goverment officials and a bunch of shady people who has TONS of venezuelans bolivars and they want to get them turned into something else. Using my example before, the person B would be the corrupt/drug dealer and the person A would be you trying to send money to your grandma
So no, don't come with the "bitcoin is saving venezuela" speech, it', Bitcoin its a workaround for corruption and dirty venezuelan money to find its way into USD.
Absolutely, go r/vzla so you can find everyone making fun of bitcoin usage in venezuela :), bitcoin is actually a meme there for this sole reason, people outside think bitcoin is used, when is not.
As for OP, had no other options to call me a "maduro bot", when Im clearly stating that localbitcoins is exactly the place where all the maduro corrupt officials clean their drug/stolen money. haha.
Let me remind you that, the venezuelan corrupt goverment LOVES crypto, because it allows them to clean their stolen money. Thats why they are even mining it themselves [1] with free power and stolen bitcoin mining machines [2]
And to finish, you can literally find the westerunion guidelines on how to send money to venezuela [3] where it clearly states that you can receive remittances in any office of "zoom cambios" in venezuelan territory.
> So, bitcoin doesn't really benefits Venezuelans, the only thing that benefits venezuelans is the localbitcoins escrow service, but this is not because its cripto or because its bitcoin, it's just because noone else offers an escrow service to sucessfully exchange currency, that's pretty much it.
This is the argument. I dont need to address anything. BTW, not that it matters but I dont hold bitcoins , I am not a trader and I dont have any association with localbitcoins, I even agreed with the points presented in the article (check my post history) now check OP's.
I don’t claim OP is a bot but you advise would not work if he/she is. The problem with bots is you cannot refute all the nonsense they generate. They are not interested in arguing with you, their job is to generate as much contradictory claims as possible so everybody reading the thread will be lost and confused. I’ve been watching this behavior in Russia for quite some time.
Really wonder why HN community nowdays completely ignores tether discussion everytime a bitcoin thread comes, I get it, some love the whole "blockchain is the future" topic and others hate it, that was pretty much the discussion here, but both parts should be again talking about tether and it just doesn't happen anymore, what happened? tether is even worse than before
edit: yeah, for everyone outthere, don't forget about tether please, remember that it exist, it gets printed by billions without any clear evidence of it being backed and its being used to increase bitcoin price.. So go make your research before you getting heavily invested in bitcoin
Anyways, I am still in bitcoin, but everyday im thinking more about getting out, it baffles me how with certain volume, the price goes down 10% in the course of 3 days and then with 1/8 of that very same volume it recovers the % lost plus additional %.
I am starting to enjoy betting money on markets, thus im visiting WSB every other day and picking up the trends there and betting them on robinhood, it hasnt gone bad at all for me, it's a steady income if you don't really depend on it or risk anything you can't lose, but I am not getting that feeling from bitcoin at all, everytime I check the coinbase APP when I wake up, my hands literally shake because of the fear that while I slept the price went down some insane %
On low volume price reacts to changes in sentiment more than on high volume, this is not evidence of anything shady.
Tether has been discussed many times and for all the doom prophecies of past five years, it’s been quite anticlimactic.
Audits and bookkeeping aside, the argument “omg have you seen tether printed X amount of BTC to pump the price” laughably misses the point, that it’s exactly what stablecoin are - when somebody wants to buy large amount of BTC through tether, they send real USD which get converted into “printed” USDT which then is traded for BTC on exchange, driving the price up. That’s like literally what one should expect of how this system should work, what’s the issue?
And lastly, if your hands are shaking checking the price - you shouldn’t be trading, you’re killing yourself.
Never said it was evidence of anything shady, it just doesn’t feel right to me, it might feel super good and normal for you, that’s fine
Is just that while NA markets sleeps you see some candle of +600 USD at plain 4am with a volume of barely 80 coins on most used exchanges, its clear orderbook spoofing so when everyone wakes up, it's happy about the price again
Also, I really wonder, how its such big news that MicroStrategy buys 150millions of bitcoin, cause it's a "big amount", yet, tether it's printing the same 150million 3 or 4 times per week, woah, is there so much money coming into bitcoin, people putting 600millions weekly specially into tether so they can buy bitcoin? who are those people, if MicroStrategy hits the news for 150m purchases, why aren't those buying 600m hitting the news?
My last comment about hands shaking it's because the uncertainty it gives me, I can trade everything, I have no problems with it, problems come when I am able to see by myself all that there’s wrong with those exchanges, yet, I'm still part of it and I acknowledge those problems and I am aware of the risks however there’s people making justifications over it.
> its clear orderbook spoofing so when everyone wakes up, it's happy about the price again
sorry, you have to provide a tad more solid evidence for claims like this. when sentiment changes, exactly 0 volume is required for that to reflect on the price. buyers/sellers at price X just go away and proceed trading at price Y.
> tether it's printing the same 150million 3 or 4 times per week
that's about $25-30 billion per year while entire tether's market cap after operating for 5 years is at $19 billion. obviously you're wrong and need to crunch the numbers some more.
He's right about tether printing those amounts in recent times. Tether started printing heavily after the March crash, particularly in August there's been a significant uptick that you can see here in the blue curve: https://coinmarketcap.com/currencies/tether/
> Really wonder why HN community nowdays completely ignores tether discussion everytime a bitcoin thread comes.
Not sure why you think this, the first time I discovered the relationship and theories as to how Tether influences Bitcoin price was from previous HN discussion threads.
Yeah, I just checked some threads and definetly it's still being talked but not with the same visibility, I am afraid that it might be getting hardly downvoted by big enthusiasts, same as I am getting downvoted now
Or, downvoters could be like me, who simply believe that your assertion that Tether isn't (still) widely discussed whenever the topic of Bitcoin valuation comes up is false.
> Really wonder why HN community nowdays completely ignores tether discussion everytime a bitcoin thread comes.
Because it's not an issue? The NY AG issued the subpoena roughly 3 years ago. If tether were fraudulently unbacked, it would not take that long for a restraining order to be issued. Hell, it would be malpractice to see missing funds on their balance sheet and not file in that time.
To believe otherwise is to say that Leticia James got the results of the subpoena, looked at the lack of funds, and decided to let them continue issuance rather than take expeditious action. You'd have to be deep into tinfoil-hat territory to believe she's in on the con.
Except of course that you're missing the point that Bitfinex have been stonewalling the discovery requests for that entire period and have not yet (as far as I'm aware) actually produced the information requested.
If you've got information to show that they've complied with the subpoena, I'd be real interested to read it :)
I was talking about the initial subpoena, not discovery. (Discovery occurs during the lawsuit, which happened later on.) The initial subpoena has not been quashed afaik, and would be pretty obvious grounds to stop issuance if it had yielded info about a hole in the balance sheet.
They haven't produced the information that would allow NYAG to establish the state of their balance sheet, and they appear to be fighting pretty hard to avoid producing that evidence.
NYAG can't, at the moment, do anything as the case has not yet reached court.
Most of the discussions in the case I've seen so far resolve around iFinex trying to insist the NYAG does not have jurisdiction over them, and so they don't have to provide any information about their finances. Whilst they don't appear to be winning that argument e.g. https://iapps.courts.state.ny.us/nyscef/ViewDocument?docInde...
they haven't (as far as I'm aware) actually produced the information about their finances so far.
First: You understand that your comment was about discovery (from the lawsuit) and mine was about the subpoena before the lawsuit?
> They haven't produced the information that would allow NYAG to establish the state of their balance sheet,
I don't know why you think this. It's the basis of the current lawsuit from the NYAG, who questions the nature of the loans that make up a portion of the balance sheet (on the asset side).
You're asking a number of questions that have no bearing on whether they've produced financial information for the balance sheet. We can get to those issues, but first I want to make sure you understand the difference between lawsuit discovery and the initial subpoena.
The initial subpoena requested financial information. I inferred that the time elapsed since the subpoena to mean tether backing was demonstrated. You mentioned that tether is fighting discovery, implying that financial information has not been provided. The subpoena and discovery are two entirely different matters, and moreover the reason discovery is happening is because Tether Inc complied with the subpoena.
It is the reason that all but the tinfoil-hat people have stopped worrying about tether. Their business might go under, but it wasn't the silly printing fraud that people like Bitfinexed were claiming.
So you're inferring that iFinex provided information in response to the Subpoena, just based on it having been a while....
Do you have any evidence of iFinex having provided all the relevant financial information relating to their balance sheet to the NYAG (a court filing for example).
All the court filing's I've seen relate to their case state that they're still fighting having to provide their financial information.
Edit: you can read the latest court filing here https://iapps.courts.state.ny.us/nyscef/ViewDocument?docInde... . Now IANAL but that does not sound to me like the NYAG was given the information needed. And the information they did provide was enough to cause the NYAG to initiate the martin act hearing they're currently contesting.
Agree. Regardless whether or not Tether is fraudulently backed, it is fractionally backed. 74% last year, with the remaining lent out. But I suppose that's expected. Even if Tether hadn't lent out their cash, the bank they deposit into certainly would.
Out of curiousity what's the basis for your assertion on 74%, given that, as far as I'm aware, Tether has never completed an audit with an independent third party.
It came from an investigation by New York's AG last year:
> In fact, Tether’s reserves of cash and cash equivalents alone
(without the line of credit) would cover approximately 74 percent of the outstanding amount of
tether. This sort of “fractional” reserving arrangement is similar to how commercial banks work.
No bank holds in liquid cash more than a small percentage of depositors’ money. The funds are
invested.
So an important note about that filing is that it's from iFinex and it's their opinion, it has not been established as a fact :)
It may be that once they actually get to court with the NYAG they can prove this opinion to be true, however as far as I'm aware no independent auditor has confirmed the status of Tether's reserves.
If your hands are shaking you might be doing yourself harm by being so invested. Try to imagine how you would feel if it crashed 50%. If devastated is your answer, why not scale back a bit? If you scaled back and Bitcoin came to rule the financial world you would still be in a very good position.
I know a friend who got so excited and put a large, large amount in BTC. Bought quite a few. It crashed and he sold. Probably at the bottom — didn’t ask. Later when it rebounded and he bought 1 BTC. He could have saved a lot of money if he just bought 1 from the start. What stopped him? He never sincerely considered what his reaction would be if it crashed and then rebounded. Don’t be like this guy.
> If your hands are shaking you might be doing yourself harm by being so invested.
Reading WSB and using that to direct funds is not investing. It's pure gambling based on the odds of getting out of a pump and dump before it turns the corner. The parent is not an investor, and will with certainty lose all their money.
it might be, but it's not getting the same visibility as it was getting before (i.e during the 2017 pump), while clearly the impact of it on bitcoin price its even higher than in 2017.
> everytime I check the coinbase APP when I wake up, my hands literally shake because of the fear that while I slept the price went down some insane %
That's an emotional reaction.
Emotions have no place in a profficent investor or trader. They will fuck you up, it is just a matter of time.
They are also not a signal for anyone else to change, or any system to change, or any discussions to start or stop on certain news aggregators - they are a signal for you to learn to chill with your investment decisions, become more analytical and less emotional with it, or at the very least scale back the size of investments to a comfortable for you level.
I've posted several times that the adoption of bitcoin in venezuela is pure bull**
Is only used for corruption/drugs money laundering, more details onhttps://news.ycombinator.com/item?id=25599693
So please, the fact that some venezuelan hners say they use bitcoin doesn't make bitcoin a real valid alternative and widely used
Venezuelans right now only care to protect against the 5000% yearly inflation and they do it with the dollar, they don't care _for now_ about dollar losing value when Bolivar loses 5000%