Venezuela and Bitcoin Cash... Possible Solution?

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Avatar for Kike9781
3 years ago

Happy start to the week to all creative crypto friends at Read.Cash

"The proper functioning of a country's economy is the basis for the development of its society"

This phrase with which I begin, I heard it for the first time in a classroom when I was attending university. My economics professor had to travel 2 hours each time he had to go to the place where we received classes, it was a pleasure to do so, and for us, a real pride, since we would have as a professor a renowned economist from our country.

During his classes, we learned a lot, and we made the most of every minute he gave us. His teachings were innumerable, and the truth is, due to the oil boom that my country was going through at that time, I never thought I would achieve it. To experience in my own flesh, many of the concepts learned there.

When the theory comes true! 

On those mornings, in the middle of conversations (it is to date the best technique that I have seen a teacher), we talked about many things. I remember words like inflation, hyperinflation, and stagflation; they were the order of the day, and they attracted too much attention to us.

The oil boom, product of the exploitation of the most abundant resource in my country Venezuela, made our economy, intervened by the state, relatively stable. We have never experienced a free market system. Because like most Latin American countries “Dad Government” must stick his nose in everything, even if it is not called.

As expected, bad planning and corruption put an end to everything, resources were not properly allocated, and problems began, coupled with an unprecedented crisis in our territory. Right at that moment, I was working as a tax advisor for the PWC affiliate in my country; our work always required being alert and analyzing situations. And to many scenarios that we could foresee, we never imagined that what was coming our way would be so difficult. 

We began suffering in our flesh those concepts that we learned. With galloping inflation, which quickly became hyperinflation, the value of our currency “The Bolívar (Bs.) (VES)” was already depreciating in a matter of hours. Over time, what was irremediable, happened and is the fall in stagflation. This happens; when three scenarios are combined. High inflation, high cost of goods and services, and little or no economic growth in the country. As you know, we won the whole lottery!

Looking for solutions. 

The population in these scenarios takes the forefront when it comes to safeguarding their properties and assets. And how a result of the economic disaster that we still suffer. Each one has had to find how to get ahead in the face of this problem. The first measure taken together by society was the mass adoption of a foreign currency. The dollar began to circulate in our country without even having a legal endorsement from our government.  

Such was the massification of its use that now, it is more common to find more dollars circulating in the streets than our currency. And the government had no choice but to look the other way and allow this, even if it this not legal. 

The digital revolution.

It could be said that, in recent years, the revolution that this entire digital world has meant and its incursion into the economy has been of great help to our battered country, it is becoming more common every day to see how many families can obtain income and to be able to make their purchases with money generated either in the blockchain gaming industry or any other that maintains an economy that allows them to obtain benefits. The world of blogging has also been of great help, and every day we see how there are more interested in joining.

With the arrival of cryptocurrencies and their rapid adoption by the majority of young people, a new window opens in my country, a new lifeline to try to protect our money, tools such as Binance P2P have had a great reception by the population since with a couple of verifications and one or two clicks your money is protected. And our unstable coins are transferred to others with more stability.

Read.Cash and Noise.Cash have been adopted by many of my compatriots. As a source of real income, and although we know that the platforms insist that "this would not replace a job." In a country where officially the basic salary is a maximum of a couple of dollars, obtaining this alternative income that is around 20-50 dollars a month; is a relief to anyone.

Final words: is Bitcoin Cash the solution? 

BCH is gaining popularity as fast as the foam rises in a cold beer; it is one of the cryptos that our Venezuelan colleagues receive the most. However, when it comes to their use, we are often limited. We must change it for another one of greater acceptance in stores since the popularity of the cryptographic world in my country came from the hand of BTC and USDT.

In my country, we must become multipliers of the benefits of this currency. Not only because the speed of your transactions is your main advantage. In addition, its low commissions, and the fact of being able to use it directly, would save us a few cents, even if they are few. In a declining economy like ours, every penny is worth it.

So in front of you, you have a little BCH adoption newbie enthusiast. I can't stop talking about its benefits in each of the stores where its use is rejected, generally out of ignorance. At this time, in my city, the only places where I can use it directly are a pizzeria and a patisserie, so for now, with them, I'm happy. And I will not stop my work to report on its benefits.

See ya! Until next time!

Monday, October 18, 2,021

Do yourselves a favor and look at the content of my sponsors… You will learn and be entertained by their great posts. 

All writing and images used are my creation.



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Avatar for Kike9781
3 years ago

Comments

Very interesting content. Everything you expose is also my feeling. I am in BarInas and I still don't know where I can buy where they accept BCH. In read.cash I have had financial relief, since my university studies and my job do not complement a quality of life as we deserve. I laughed a lot when you say that "we won the whole lottery", you know that here in Venezuela there is a very popular reflar that you made me remember, "we were a lot and grandma gave birth", nice to meet you, happy day my friend.

$ 0.01
3 years ago

LOL; I know, it had occurred to me to use a similar one, but the lottery is more universal and easier to understand, hopefully, soon more about BCH will be known in our towns.

$ 0.00
3 years ago

Los ciudadanos venezolanos han tenido que adaptarse a la fuerza, por culpa de una situación que se escapa de sus propias manos. Sería maravilloso que más establecimientos por allá adoptarán el BCH, el cual es el que más da propinas gratis en las diferentes páginas.

Aquí en Chile es diferente, no se conocé mucho ni tan siquiera el BTC, así que adopten criptomonedas es como difícil. Cada vez que intento hablar con alguien sobre ellas me quedan mirando raro (risas)

$ 0.01
3 years ago

Que raro Juany, Chile siendo un país tan moderno se encuentre en ese nivel de desconocimiento, ya les llegara la ola y espero que sea pronto.

$ 0.00
3 years ago

The time when cryptocurrencies will be used as a means of payment will come soon, I see it coming. In my small town in Aragua state there are several businesses that accept cryptocurrencies among them BCH, now that I remember I made a post in my other blog about this, you gave me an idea to create a post here which is the ice cream daddy.

$ 0.01
3 years ago

You're going to have to give me the information about those places, your town shouldn't be that far away.

$ 0.00
3 years ago

Before they used to accept in Traki, now they only accept in a small store, but the owners are visionaries, they sell a little bit of everything and that in Cagua, in front of Traki

$ 0.00
3 years ago

Al igual que tu cuando vi esos conceptos, eran solo teorias, que el profesor se esmeraba en crear ejemplos para darse a entender. Ahora es la cruda realidad, que no hubiese querido ver mas que en las paginas de mis cuadernos en el pasado. Pero bueno, el Venezolano siempre busca las maneras de salir adelante y aqui estamos muchos montados en este barco de las criptomonedas a ver que tan lejos nos lleva. Brindo por mas BCH y que tenga mas usabilidad.

$ 0.01
3 years ago

Esperemos que todo esté movimiento de las criptos nos ayuden a solventar muchas cosas. Sobre todo el proteger nuestro dinero.

$ 0.00
3 years ago

Dios quiera que si. Nos toca aprender mucho de este mundo para manejarlo de mejor manera.

$ 0.00
3 years ago

Que rico sería que hicieran tiendas nuevas acá en Cuba y aseptaran el pago en bch. Sería un alivio para mi. Linda noche mi bello amigo y patrocinador

$ 0.01
3 years ago

Creo que sería bueno si en todos lados fuese así. Saludos

$ 0.00
3 years ago

Very soon there will be complete adoption in your country... I think there need to be enlightenment of bch and the establishment of various requirement with cryptocurrency generally

$ 0.01
3 years ago

It would be great, plus it would help the population and businesses a lot.

$ 0.00
3 years ago

Solutions, I don´t know, the economy is kinda hard to understand sometimes. But work in crypto is good everywhere not only in Venezuela. By knowing the problems the country has, I´m pretty sure the crypto world is becoming so popular there. The same is happening in Argentina, and... China, the problem is the regulations those governments can apply in order to limit, the use of crypto currencies in the countries.

$ 0.01
3 years ago

In the case of our country, the regulations are not considered very seriously, since the flow of money in the streets helps the government to change the image of the economic crisis a bit.

$ 0.00
3 years ago

It would be great if the BCH is accepted in more places. And it should start being accepted by the large businesses that accept other cryptos. Like Traki, Excelsior Gamma, and Simple TV to name a few. And for this to happen, those who lead the adoption of BCH here, need to negotiate with the Cryptobuyer platform.

$ 0.02
3 years ago

The other day, buying some donuts, I saw that a group of girls dressed in green with the BCH symbol was leaving. I couldn't see the name's company, but they were conducting an introductory workshop for store personnel who handle the wallet.

$ 0.01
3 years ago

That must be the group that makes the videos that are on YouTube. The point is what I see happening is a bit of what happened with Dash in the past. They are focusing on small businesses to meet the quota of merchants on board imposed by whoever finances them. But for there to be a breakthrough in the adoption, they have to get some real big merchants to accept BCH.

$ 0.00
3 years ago

You're right; small businesses help adoption, but nothing like advertising a large chain of stores so that the rest are interested.

$ 0.00
3 years ago