Venezuela’s Bitcoin Story Puts It in a Category of One

The people of Venezuela are starving. There is a shortage of food and medicine, says Reuters, while recounting a terribly saddening story of a Venezuelan mother giving away her child. They live on $6 a month. “Just one chicken meal would now burn up half [of their] monthly income.” BBC The BBC says that “T]his will be a difficult Christmas for thousands of impoverished Venezuelan families, some of whom are now facing genuine hunger.” Once one of the richest nation in South America, Venezuela has been brought to its knees, seemingly overnight. The sudden fall in oil prices has led to a....

Crypto garnered another mention in one of Maduro's bombastic speeches. The President of Venezuela Nicolas Maduro says that the country's government is now looking at diverse cryptocurrencies as a potential way of avoiding sanctions.On Sept. 29, Maduro presented a new bill that intends to help the country overcome the impact of United States’ sanctions. As part of the bill, Venezuela will study the possibility of using various cryptocurrencies in both domestic and foreign trade. Maduro claimed that the new anti-sanctions bill involves both private and state-backed crypto initiatives like....

Today, eBay revealed their category changes for the month of April. Near the bottom of the list due to the intentional use of the word ‘virtual’ instead of ‘digital,’ the “Virtual Currency Category” is under the Paper Coin and Money subcategory of the Collectibles & Art section. Under the Virtual Currency Category are three more categories: Miners, Mining Contracts, and “Currency.” Despite these new categories, there are still tens of thousands of digital currency related auctions and listings on eBay that have not been properly re-categorized. Make no mistake that eBay had been....

An attacker gained access to PwC Venezuela’s Twitter account and has been actively posting cryptocurrency phishing links for the last 8 hours at the time of the writing. An attacker gained access to PwC Venezuela’s Twitter account and has been actively posting cryptocurrency phishing links for the last 8 hours at the time of the writing. Considering that all the tweets posted by the hacker remain active, it is evident that PwC officials are yet to realize the compromise.Investors clicking on the links remain at risk of being defrauded by the hacker. If not mitigated promptly, the threat....

One of Venezuela’s major international airports is making preparations to start accepting Bitcoin as a mode of payment. The Simón Bolívar International Airport has announced arrangements for BTC, DASH, and Venezuela’s oil-pegged crypto token – petro – for airport services. Preparations To Adopt Cryptocurrency As Payment Previously, Venezuelan regional news broadcasting company, El Siglo, reported that country’s largest international airport is interested in cryptocurrency as a payment method. Venezuela’s international airport giant, Simón Bolívar International Airport also called....