This week 22 BTC were traded in Venezuela (Using Localbitcoins)! When it comes to wage, it is even worse than last week as now monthly minimum wage under 6 USD

Hi, guys as always I post this here too so it reaches more people!

Hi crypto brothers, I'm Venezuelan "living" here have been posting this numbers for more than 5 years. Considering that here the FIAT currency is a really shitcoin (Bolivares, "Bs." since 2017 14 zeroes have been removed from the currency) crypto has been really a help!

One BTC is around 540,000 Bs. right now. It would have been 54,000,000,000,000,000,000 pre2007 Bs.

While LocalBitcoins is not that used anymore (it was years ago, with a volume of over 2k BTC weekly) but it has an API and shows everything! Exchanges used are Binance (king), AirTM, Reserve and so on.

Last year inflation was over 300% (lower than last year), average wage is around 100 USD monthly (A manager wage is aroudn 300 USD monthly) and YES! Minimum wage is 130 Bs. monthly, exchange rate is around 22 Bs. / USD, so 5.90 USD!

People use crypto to avoid inflation, receive remittances, exchange mining profits (as I always say, electricity is free for now) and just as a form of payment.

Any question let me know!

https://www.reuters.com/world/americas/venezuelan-teachers-march-better-pay-amid-sky-high-inflation-2023-01-16/?utm_source=reddit.com

https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela

https://coin.dance/volume/localbitcoins/VED/BTC

https://coin.dance/volume/localbitcoins/VED

https://localbitcoins.com/country/VE