Bitcoin Rebels Against The System In Venezuela
Reuters reports that Venezuelans looking to bypass dysfunctional economic controls are turning to the Bitcoin virtual currency to obtain dollars, make Internet purchases - and launch a little subversion. Acquiring US dollars in Venezuela means either requesting it from the state, which struggles to satisfy demand, or tapping a shadowy black market. Even small dollar transactions are out of the question for most Venezuelans. That has created a gray market for Bitcoin, a digital currency which is not governed by a central bank or controlled by a single source. In Venezuela, using Bitcoin can....
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Analysts from Venezuela have expressed their worries about the expulsion of a number of Russian banks from SWIFT, an international messaging system that allows the interconnection of banks. These measures could affect the finances not only of Venezuela, but also of other countries in the region, damaging their capability to move funds, which is highly dependent on services provided by Russian banks.
Russian Banks’ SWIFT Expulsion Could Affect Venezuela
The recent announcement of the expulsion of some Russian banks from the SWIFT payments system has raised concern about the....
So far, three Bitcoin exchanges have established themselves in Venezuela. SurBitcoin is by far the biggest, whereas Yabit and Cryptobuyer are relatively new on the scene. Bitcoin remains one of the most popular commodities in all of Venezuela. The country is plagued by hyperinflation, and consumers have very restricted access to financial assets. Bitcoin provides an excellent opportunity to hedge against further inflation of the Bolivar, as well as invest in the future. The month of July has been a particularly good one for Venezuela. The number of transactions per week continues to....
Are you looking to buy real estate in Brazil? It is now possible to do so using Bitcoin. TECNISA, a Brazilian real estate company based in Sao Paolo, accepts bitcoin. In addition, TECNISA provides incentives to its clients to use bitcoin. For example, for every R$ 10,000 (approximately 10.5 BTC) paid in bitcoin you get a discount of 5%, which works out to R$ 500. To enable bitcoin payment TECNISA has partnered with Bitinvest, a financial services provider based in Sao Paolo. Flavio Pripas, Bitinvest's CEO, said: "We offer through our platform faster, cheaper, more secure and transparent....
All Pizza Hut locations in Venezuela now accept a broad range of cryptocurrencies, including bitcoin, via the payment platform Cryptobuyer. Pizza Hut joins Burger King, Intercontinental Hotel, Traki, and several other major stores in Venezuela that accept bitcoin. Pizza Hut Accepts Bitcoin Cryptobuyer announced on Friday that all Pizza Hut restaurants in Venezuela now accept cryptocurrencies, including bitcoin. The company wrote: From today, you can share with your family and pay with cryptocurrencies … in any of the Pizza Hut restaurants in Venezuela. The announcement adds that....
Venezuela is reportedly paying companies in allied countries, including Iran and Turkey, with bitcoin to mitigate the effects of U.S. sanctions on its economy. The Venezuelan government is also planning to increase bitcoin usage now that it has a dedicated cryptocurrency mining center. Venezuela Uses Bitcoin to Pay for Imports Venezuela has been using bitcoin to pay for imports from allied countries, local news outlet Runrun.es reported this week. The government of President Nicolas Maduro is also planning to increase its usage of bitcoin in trade now that the Venezuelan Army is actively....