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Why crypto? Almost a year ago six zeroes were removed from the currency, now old banknotes coexist with new ones, it's confusing and government doesn't care! A case where 10 > 500,000

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Why crypto? Almost a year ago six zeroes were removed from the currency, now old banknotes coexist with new ones, it's confusing and government doesn't care! A case where 10 > 500,000

Hi,

In October last year six zeroes were removed by the currency by law here in Venezuela, so 1,000,000 Bs. (Bolivares) would become 1 "new" Bs. Of course everything in the economy is divided by 1,000,000 Bs., rent, wages, prices, exchange rate, crypto prices and so on.

Biggest banknote was 1,000,000 Bs. and it became 1 Bs. (even when it printed it said 1,000,000 Bs.), there was also a 500,000 Bs. banknote it became 0.5 Bs.

BUT they launched NEW banknotes and the 10 "new" Bs. banknote shares EXACTLY the same design than the 500,000 Bs. old one.

So we have two banknotes with the same color and different value, 0.5 Bs. (printed it says 500 MIL - 500,000 , worths around 0.06 USD) and 10 Bs. (worth around 1.2 USD).

https://preview.redd.it/d7rwi3gkrgr91.jpg?810&format=pjpg&auto=webp&s=9fc20c70c871a23e8f69d84277ece774fe891fd6

I have been confused several times already, tried to pay 1 Bs. and used two 500,000 Bs. (Remember 500,000 "old" Bs are now 0.5 Bs, so 0.5 x 2 = 1) banknotes and was giving the lady 20 Bs. (10 x 2) 20x more!

Imagine tourist and old people, I always check with my parents so they don't get confused.

What do you think? I'm Venezuelan living here if you didn't know!

I wish this had the comedy flair

submitted by /u/WorkingLime
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