Hyperinflation in Venezuela... "Potentially the first bitcoinization of a sovereign state" | CNBC Video by cryptoindex

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venezuela · @cryptoindex · (edited)
$137.21
Hyperinflation in Venezuela... "Potentially the first bitcoinization of a sovereign state" | CNBC Video
![](https://steemitimages.com/DQmeoLkh3czcJYY1sUpMbd4C2tovW3vtYhL7aF7KBYva3gS/image.png)

#### Summary
- Past 20 years have been difficult for the Venezuelan Economy.
- Hyperinflation is causing the Venezuelan Bolivar to become unusable.
- Day to day transactions like buying lunch require peers to wire money to each other because no one accepts the Boivar.
- Cryptocurrencies like bitcoin could combat the problem.

##### Source Article + Video:
https://www.cnbc.com/video/2017/09/22/without-help-venezuela-cannot-pay-liabilites-daniel-osorio.html

---
Please remember that the above post is not financial or investment advice but instead a look into how I invest in crypto.  Always seek assistance from a professional financial fiduciary.

If you would like to learn more about my investment practices please visit my website [cryptoindex.info](http://cryptoindex.info/)
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 65 others
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vote details (129)
@cryptohero.info ·
$24.11
Good repost as always, man. Upvoted! 

A bit of a side story: I was selling some decommissioned mining GPUs a few months back on eBay and had a Venezuelan guy contact me asking if he could buy them outright, if I would ship expedited to Venezuela, and what the best coins to mine with it are! 

I didn't end up selling them to him as I don't ship internationally anymore, but it was an interesting experience and 100% evidence that people in Venezuela are using cryptocurrencies to pull themselves out of hyperinflationary poverty.
👍  , ,
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vote details (3)
@cryptoindex · 
Great tidbit of information there. Thanks for sharing that.
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@minnowsupport · 
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@etfbitcoin ·
$0.02
Nice news, didn't know Venezuela have economy difficult past 20 years, i though it started 2-3 years ago from other news. I just whether the merchant tolerate people who use lower fees to save money, especially on micro-transaction.
👍  ,
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@dustinthornton · 
I sure hope SOMETHING saves Venezuela from its government.
👍  
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@dustinthornton · 
I should say something nonviolent.
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@cryptoindex · 
I agree things are not looking good right now.
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@resteemsupport · 
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@abed894 · 
Well done, my friend, you choose great articles
👍  
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@cryptoindex · 
Thank you.  I have to read through a lot of the bad ones to get to the gems!
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@argelida1 · 
Excelente articulo, frecuentemente conozco mas personas con mucho interés en las criptomonedas, para los venezolanos que hemos decidido seguir aquí son una alternativa de ingreso y de mantenimiento del poder adquisitivo, cada dia los Bs. compran menos cosas y la superinflación nos resta calidad de vida
👍  
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@skycorridors · 
I was on Stossel last year talking about this! https://www.youtube.com/watch?v=lS9KzrK0T9k
👍  ,
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@cryptoindex · 
Great share. Thank you!
👍  
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@cryptoindex · 
@originalworks
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@originalworks ·
originalworks
The @OriginalWorks bot has determined this post by @cryptoindex to be original material and upvoted it! 
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@cryptoindex · 
@resteem1
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@doctorwilliams · 
Te invitamos a participar en el Steem Fest Venezuela este 5/7/18 allí podremos construir comunidad, capacitarnos en temas de intéres además de pasarla super bien. Los detalles estan en @doctorwilliams
👎  
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body_length200
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root_title"Hyperinflation in Venezuela... "Potentially the first bitcoinization of a sovereign state" | CNBC Video"
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