Hi guys, as I always do I like to post this here too!
Hi crypto brothers, as you probably know I'm Venezuelan "living" here that believes in crypto probably because I live in a country where the fiat currency is worthless (since 2007, 14 zeroes have been removed from it).
I have been posting this for over 5 years now!
One BTC traders now at around 490,000 Bs. (Bolivares), exchange rate is around 21 Bs. per USD. Before any zero removal it would have been 49,000,000,000,000,000,000 Bs.
Othes CEX used are Binance, Reserve, AirTM among others. I use LocalBitcoin as a sample because it has an API and some pages get that information and put it in a easy way!
Inflation las been crazy last months, I have been a bit anxious and depressed about that lately ( months ago it was much more stable to be honest).
Last year inflation is estimated to be over 300% (way better than last years where it was over 180,000% !!!!!)
People use crypto to avoid inflation, receive remittances and exchange mining profits (as I always say, electricity is free for now).
Monthly minimum wage is 130 Bs. so 6.5 USD monthly!
One teacher has a wage of around 10 USD and one professor from the university around 60 USD (monthly).
Average wage is 100 USD monthly.
When someone says FIAT is good and crypto is bad, show them this post! As always, any question let me know!
https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela
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