Do not trust FIAT if they want they can "reset" it and remove zeroes, like Central Banks have done before in several countries like here in Venezuela 14 zeroes since 2007 (with example)!

Hi, as you know I'm a Venezuelan living here. I really crypto because I have been rug pulled by the government from years!

Some people, do not trust crypto because their FIAT currency is "stable" and to be honest I don't blame them, probably I would have be like that. But, with my first hand experience with hyperinflation and government printing money like there is no tomorrow, I really believe crypto is something good.

Check this:

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https://preview.redd.it/1an7zyckfdcb1.png?1025&format=png&auto=webp&s=34b224ee36e9b16aea72d11e7e61b0a6bf4b5ae7

That image shows 11.5 "current" Bs. but there are two banknotes exactly the same design and both are in circulation.

One says 10 Bs. and the other says 500mil (MIL means thousand in Spanish not MILLIONS) so 500,000 Bs. but its current value is 0.5 Bs. The middle one says 1 MILLON (so, that is 1,000,000 Bs.) but its current value is 1 Bs.

Why?

3 years ago government removed by law six zeroes from the currency and both banknotes from before and after are in the streets. Before that in 2018, 5 zeroes were removed and before than in 2007, 3 zeroes were removed. That is why it's 14 zeroes since 2007!

So for and old person or a foreigner this shouldn't be 11.5 Bs. (10+1+0.5) this should be 1,500,010 Bs. (1,000,000+500,000+10) but here things are different.

PD: They put 500MIL and 1MILLON instead of 500,000 and 1,000,000 to avoid accepting the big amount of zeroes and hyperinflation (And for the 1MILLON one they knew they were going to shave six zeroes so it would become 1 Bs.)

Any question let me know!

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