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My sociological study about Bitcoin Cash and its positive benefits to Venezuelan emigrants

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Written by   155
10 months ago

Sociology directs its attention to the human act of living and developing in society, its main object is the study of the set of human relationships centered on the relationship of everything that men do or do not do in relation to other human beings; Venezuela has always been a country that has kept the doors open to emigrants who have wanted to settle in our country, Currently it has been observed that this pattern is not the same and it has changed now people dream and fight to leave our national territory, motivated by a social crisis in a context of social and political deterioration, economic recession and social decomposition, a situation that has been worsening year after year and that has begun since President Hugo Chávez became president of the government. We will carry out a sociological analysis on the causes and consequences that Venezuelan emigration has produced in our territory through the analysis of a set of facts that have led to the emergence of social problems, leading to Venezuelans having to emigrate to other territories; as well as the light that those Venezuelans who refuse to leave our country manage to observe and see hope in the world of cryptocurrencies specifically in the adoption of Bitcoin Cash as a means of acquiring remittances and escaping from hyperinflation, these being the main reasons why Venezuelans are so familiar with this cryptocurrency.

1) Venezuelan emigration

If we ask ourselves what are the problems that our country is going through, we will find a number of social problems of any kind since our country is at a critical moment in terms of development of our society, from food shortages to a paralyzed economy where those of us who live in Venezuela can observe and live a hyperinflation that does not stop and makes the acquisition of basic food more difficult every day and is even reflected in the acquisition of medicines, considerably affecting the control of diseases among Venezuelan society, these Problems of an economic nature result in a rise in crime rates, our country being one of the countries with the highest theft and murder rates in Latin America; This set of social problems that have occurred in our country have resulted in an explosive combination, between a situation of scarcity and lack of food, medicine and health care, and the situation of violence that has been increasing, originating what until a few years ago our country was a place where people with security problems or affected by conflicts that threatened their integrity came to seek refuge, now it is the opposite, a social phenomenon that has been increasing for several years known as the emigration of Venezuelan citizens to other countries in Latin America or other continents, it is estimated that there may be five or six million Venezuelans who have left the country trying to escape from the set of social problems that originated in our country if such as the search for a better quality of life for their families.

This social problem that originates in our country is of utmost importance for the study in the sociological field, because the main object of sociology is the study of human beings and their social relations to discover the nature of social phenomena, the causes of social problems, as well as investigating the determining consequences and how they are related to each other and to other social phenomena; It is for this reason that sociology coincides in worrying about the nature, causes and consequences of emigration; in the same way, through his studies, he is concerned with trying to find the methods that lead to improving the living conditions of the most disadvantaged social groups, which are the most affected by the social phenomenon of emigration, in the case of Venezuela adoption of Bitcoin Cash as a method to help combat the hyperinflation of which we have been affected, in the same way Bitcoin Cash makes money work for you, that we can make payments to other people quickly, send money abroad and in the same way receive money from abroad, basically for free and store the savings safely, all without intermediaries to control our funds.

 Now, when we refer to migration as a social problem, it is important to know that it is considered a social problem “there is a social problem when a significant number of people think that a certain condition is really a problem” (Coleman and Cressey, 1929). In the same way, we could affirm in a subjective way that a certain phenomenon becomes a problem when it is necessary to adopt a moral position before it.

In this way, we will address the issue of emigration starting from the premise that emigration consists of leaving the country or place of origin to settle in another country or region, especially for economic or social reasons; For this reason, to include emigration as a social problem, we must consider several aspects, including the causes and conditions that originate this social phenomenon, as the spearhead or genesis of this set of social problems in the political sphere, we find the political situation, in which our country has been submerged since 1999 with the arrival of Hugo Chávez to the presidency of the republic, which has originated from his first steps beginning with the constitutional reform of 2000 in which one of the main political problems for our country arises, as is the absence of consensus between the political forces and that with this an action of the government of Hugo Chávez is established that does not seek consensus among opposition forces but rather seeks to establish a government where all political action was focused on their parties politicians. After the death of President Hugo Chávez and the inauguration of Nicolás Maduro, the political situation in our country has deteriorated even more, in which the government has focused on authoritarianism by the government of Nicolás Maduro, which has been seen by the international community as a Dictatorship, which has resulted in the breakdown of diplomatic and cooperative relations by the other countries with Venezuela, this being the main political factor for the origin of the set of social problems in our country; In the same way, we find in the social and legal sphere, we find the set of actions and policies adopted by the nation executive against private property, with the misnamed expropriations which threaten the patrimony of the people together with this we can add the constant violation of Human Rights against civil society through torture and violence against protesters who demand changes, dismissal of people for belonging to opposition political parties, as well as political persecution in our country which generates constant anxiety and anguish in the Venezuelan society; In the economic sphere, we can appreciate the strongest factor that has caused the emigration of Venezuelan citizens, since before the beginning of the government of President Hugo Chávez and even during part of the Chavista government, our country generated the highest foreign exchange income to the public coffers in all From known history, the government of Hugo Chávez managed to bring oil from $ 16 to $ 130 during his term in 2008, which was considered the greatest oil bonanza in the history of Venezuela, added to this the income from oil exports but funds of which the use could never be appreciated since the productive apparatus of our country has been paralyzed to this day being this as a consequence of the mismanagement of these resources or the inefficient, irresponsible and undoubtedly unscrupulous use generating every day a hyperinflation that does not stop growing and in turn an overvaluation of the currency which led to the establishment of er exchange rate regimes by the national government that has only produced poverty and more poverty in the inhabitants of Venezuela, becoming the minimum wage for the Venezuelan population the lowest in Latin America, being compared only with that of African countries, perhaps, this drowns Venezuelans being impossible to buy food from the basic basket as well as medicines to control diseases, Venezuela went from having a predominant population of Upper Middle class to a population of lower class and middle / lower class, and even the loss of the social stratification; Last but not least, the field of security, when observing the loss of stratification and the high hyperinflation that overwhelms the Venezuelan population, has caused many people to feel the need to look for easy and illegal money, resulting in insecurity and crime which is Perhaps the worst evil that afflicts citizens, this situation is experienced in different ways by means of armed robberies by common criminals, organized crime is responsible for kidnapping and extorting, unfortunately in most cases those Crimes end in homicide, in addition to the poor organization, planning and structuring of the police forces that have originated perverse security forces that do not fulfill their duty to defend and protect citizens, but instead are in charge of intimidating and going against citizenship, in which people with businesses or goods are extorted through the so-called “Colaborations ”to be able to feel safe in their commercial premises.

This has produced consequences within our country in different areas, it is the social breakdown and decomposition of the family that has been the product of the separation of members and the abandonment of loved ones who must seek to emigrate to improve the quality of personal life and of the people who are enduring and suffering the hardships within our country; In education, a large number of those who emigrate from Venezuela are professionals educated between 60% and 80% of the country's students intended to emigrate, for this reason the classroom of universities and colleges is seen with little influx of students since the vast majority of young people have already emigrated, it is estimated that after the misnamed "Bolivarian Revolution" more than 40% of the people who left had a degree, 30% had a master's degree and 12% had doctorates; In industry, studies have shown that the emigration of highly skilled workers aged 25 years or more from Venezuela has increased by 216% in recent years. In the medical sector, low salaries caused doctors and medical personnel, especially from private facilities, to emigrate from the country, the Venezuelan government allegedly restricted funds for the training of doctors, more than 16 thousand doctors who represented 50% of health professionals they have emigrated to this day; In the Petrochemical sector, in which our country was a pioneer in the petrochemical industry, it has been affected thanks to the mismanagement of resources by the national executive, added to corruption and the diversion of funds, it is estimated that 75% of the 20 a thousand petroleum engineers and technicians emigrated to other countries to work.

All these consequences, product of the emigration of Venezuelan citizens to other countries outside the national territory, greatly affect our country and as an object of sociology and as part of the sociological analysis of this social problem called EMIGRATION, it is necessary to search for solutions and strategies that allow to improve the living conditions of the most disadvantaged social groups which are the most affected by social phenomena with strategies that allow them to live with dignity respecting their human rights and the fundamental rights of every human being, for this reason we will approach from the sociological field a solution to these social problems as a solution to people who emigrate, such as those who, due to their social disabilities, do not have the possibility of emigrating from our country and those who manage to emigrate from Venezuela and settle outside of Venezuela to help their relatives in Venezuela.

Bitcoin Cash as a solution to the economic crisis in our country:

Through this sociological study it is possible to appreciate that 100% of the people who emigrate from our country do so for economic reasons due to the lack of jobs with decent wages, a country immersed in a hyperinflation that does not stop, a Banking system that has a paper money with an ephemeral value, our country Venezuela is going through one of the worst and most painful economic crises in modern history, with our local currency "El Bolívar" practically losing its value, placing hyperinflation rates at 10,000,000% this year ; We can consider this to be the worst humanitarian crisis in the history of Latin America.

As a result of this crisis and this social phenomenon going through Venezuela, the cryptocurrencies mainly Bitcoin Cash has assumed an important role in the Venezuelan economy as a basis to help both people who emigrated and people who still remain in our country, The cryptocurrency market in our country represents the just and necessary change of the economy to be able to maintain a stable balance, for this reason it is appreciated that Venezuela has reached one of the highest rates in number of transactions and use of cryptocurrencies in our country, Venezuela being located in third place worldwide in the global adoption index of cryptocurrencies with a score of 0.80 on a scale of 0 to 1, with the use and adoption of Bitcoin Cash being predominant for these transactions in our country, this due to the fact that many of Venezuelan trust the use of Bitcoin Cash to send and receive remittances from abroad and in the same way was to preserve his savings against hyperinflation.

As we have announced and commented above in our report, whenever the Venezuelan citizen tries to find a way out or a break from the economic crisis in our country, the national government of Nicolás Maduro tries to place obstacles or monopolize the market to prevent Venezuelans from getting a break. Faced with the crisis we are experiencing, as a measure adopted by the government of Nicolás Maduro (a government that is sanctioned by the vast majority of countries and world economic organizations), a government known for its corruption and human rights abuses, has launched their own cryptocurrency project with which they affirm that they will mitigate the bad economic conditions of Venezuelan citizens and in turn try to evade the sanctions imposed on their government; Venezuelan citizens have opposed the adoption of this cryptocurrency called “PETRO” due to the low credibility provided by the government and in turn the low economic confidence generated by the economic measures adopted by the national government in a country that is in crisis economic for several years where it has been impossible to combat the devaluation of the official currency. In this way, Bitcoin and Bitcoin Cash continue to be the cryptocurrencies adopted for the use of transactions in Venezuela, due to its reliability, trust and security that it provides in each of its transactions.

Venezuela stands out in 2nd place for its more than 3 billion dollars exchanged last year

Peer-to-peer exchange makes up the largest amount of this activity, specifically on LocalBitcoin. LocalBitcoin has users making exchanges around the world, although Venezuela is the 3rd most active country on the platform or the 2nd most active on a scale by number of Internet users and by purchasing power parity per capita.

Cryptocurrency exchange platforms most used in Latin America

LocalBitcoin is widely used in Venezuela, but in Latin America other platforms are used, due to the blocks that these platforms are victims to be able to work in Venezuela.

Venezuela occupies the 3rd place in the total number of peer-to-peer transactions in American currency (dollars), after the United States and Russia. We are going to observe this peer-to-peer trend Venezuela through this graph:

We can see that the yellow line of the peer-to-peer volume exchanged in LocalBitcoins in Venezuelan local currency does not seem to indicate that the peer-to-peer activity is triggered in the presence of hyperinflation; Although, the rapid rise of this line is due to hyperinflation: as time passes, a greater amount of Venezuelan local currency is necessary to buy the same amount of Bitcoin Cash. The orange line shows the amount of peer-to-peer transactions in Venezuela in dollars, which has seen a slower increase in recent months. In our country where there is hyperinflation, people are much more likely to keep a large amount of their wealth in cryptocurrencies.

As a conclusion to our Sociological study we can see that there is proven evidence that Venezuelan citizens are increasingly interested in cryptocurrencies mainly due to difficult economic conditions, that is why they turn to cryptocurrencies mainly to Bitcoin cash to preserve their savings motivated to devaluation of the Venezuelan local currency, cryptocurrencies are also important for remittances (Sending and receiving money from abroad). During this economic crisis, approximately five or six million Venezuelans have left Venezuela in search of new opportunities in other countries and many of their friends and family who stayed at home trust that they will send them money from abroad. Bitcoin Cash represents a huge help in this case, as Venezuelan citizens abroad use Bitcoin Cash to send funds abroad more quickly and paying lower fees than they would with fiat. Bitcoin Cash also allows Venezuelans to do so without having a bank account, making it extremely difficult to obtain a bank account for Venezuelans abroad, an example is US banks such as "Zelle de Bank of America", which offer money transfer services and the opening of accounts in dollars, they began to close the bank accounts of Venezuelans due to the sanctions and since the balances in these accounts were not high enough to justify the costs incurred by banks for reasons monthly maintenance or monitoring violations of these sanctions, these actions continue to encourage the increase in the use of cryptocurrencies in Venezuela, for this reason I believe that we are seeing Venezuelan citizens claiming their economic sovereignty.

Venezuelans feel a sense of belonging to Bitcoin Cash, the international cryptocurrency transactions and exchanges that interconnect Venezuela with the rest of the world, it is the platforms that offer these positive results, not the exchanges or actions managed by the Venezuelan government.

Payments and transfers go directly from one person to another without limitations or restrictions.

No matter how much money you send, Bitcoin Cash transaction fees are always minimal.

Money is sent and received quickly, with no delays or limits.

We invite you to download the Bitcoin cash wallet:

This has been my sociological report presented at the Bicentennial University of Aragua as part of my studies in Law, I hope it has been to your liking. I obtained a final score of 100/100 points

Herman Sanchez

@Koush @RogerVer @MarcDeMesel @Read.Cash @JonathanSilverblood @emergent_reasons @ChainXOR @georgedonnelly


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Written by   155
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"The cryptocurrency market in our country represents the just and necessary change of the economy to be able to maintain a stable balance"

i love this line, very true. and a lot of your data shows that despite economists warnings, cryptocurrencies can be used as stores of value. thank you so much for sharing.

i have worked where they conduct Western Union transactions and it is great to know that people can send remittances for less money than the corporate options and that the network of BCH is growing to support such needs.

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8 months ago

Nice article

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10 months ago