Venezuela, a Latin American country located north of South America, facing the Caribbean Sea, who by the year 1950, while the rest of the world struggled to recover from World War II, was the fourth richest country on the planet, measured by the size of its Gross Domestic Product (GDP) per inhabitant, is currently a country plunged into misery, hit by hyperinflation and the printing of infinite money and an economy blocked by capital controls and closed borders, although it still has the largest oil reserves in the world, over 300,000 million barrels, almost 10 times more than those of the entire United States, and 30,000 million barrels higher than those of Saudi Arabia.
All this picture of the country's economy is so bizarre, to name it in some way, that we Venezuelans have had to invent ourselves to try to understand and get ahead in the midst of an absurd crisis boosted by the exchange control imposed by the government 15 years growing with it the speculation and therefore, corruption.
In the Venezuelan economy situations occur so crazy and absurd as for example the existence of, not only a parallel market of the dollar, but up to 2 and 3 parallel markets. There is one that dominated for several years and that emerged based on the website called "Dollar Today", then another arises, prompted by the speculative market located in Cúcuta, Colombian city bordering Venezuela, known as the "Dollar Cúcuta" and from December 2017, the Twitter account of Dollar Today began to place on its letterhead a new marker of the price of the dollar, a "Bitcoin Dollar", motivated by the growth obtained that year a market space, not regulated by then, of purchase-sale between cryptocurrencies and the bolívar (legal tender in Venezuela,) with a huge offer and an equivalent demand; being the most representative cryptocurrency in this market, Bitcoin.
This madness of the Venezuelan economic market driven by the government's ill-advised economic policy has caused a social phenomenon in the country. On the one hand thousands of Venezuelans emigrate to other countries in search of a better quality of life, others, we resist leaving our home, our homeland and we see the world of cryptocurrency as a viable and real alternative. But as in many aspects of life, there are optimistic people and pessimistic people, believers and non-believers; and everyone chooses the sidewalk where he wants to be, this is what happens in this market. Personally I have decided to stay in my country and try this market, I am the kind of person who has learned to see the "glass half full" instead of seeing it "half empty", I think God made me with a purpose and that " All things "even those that I do not understand, operate for my good; attitude that drives me to have hope, to have a goal of life and even in adverse circumstances, to be happy. My experience with the world of cryptocurrencies has been really satisfactory, I still have a long way to go, but what I have learned so far has allowed me to improve my purchasing power and therefore, my economy
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Currently, ordinary citizens, small, medium, and large entrepreneurs, experience the process of "reinventing our economy" by going to the relatively new economic market called CRIPTOCURRENCY, but it should be noted that this has not been exclusively for the common citizen or for companies or entrepreneurs, but the government itself is implementing this alternative under the excuse of facing what they themselves have called "economic war", which is nothing more than the encroachment caused by the blockade and international economic sanctions for some senior officials of the current regime.
All this has generated that today there is an opening to the market of the cryptocurrency, which although in the case of the Venezuelan government, has certain variants that have caused controversy and certain doubts about the success that it is intended to achieve, the truth is that it has allowed the cryptocurrency market to penetrate at an accelerated pace in all socioeconomic spheres of the country.
At this point there is much to cut and many opinions to probe, however, it is clear, whether or not the government accepts it, the Venezuelan citizen who remains in the country, refuses to give up and has dollarized his economy on account own, long before the government had to do it in a disguised manner as it did with the invention of "Petro", but as even access to the dollar is not fluid, due among other things, to speculation, it begins to recur with greater presence to the market of cryptocurrencies because this is a market with unique characteristics such as being without borders, outside the manipulation of governments, anti-inflationary, finite supply, decentralized, and resistant to censorship, which allows somehow guarantee the stability of your transactions. So much so, that according to the portal "Bitcoin.com", Venezuela ranks second in the Bitcoin Market Potential Index (BMPI), an organ that is responsible for measuring the places in the world where the potential of bitcoin adoption is greater.
There are many opinions regarding the economic and political future of Venezuela, there is a great proliferation of experts and scholars who give their views day after day, however, I can not finish this post without saying that regardless of what these experts say, be encouraging or discouraging, I feel optimistic and confident because the Word of God is my reference and allows me to believe that although there is still a long way to go, God has great plans with Venezuela, as we read in Jeremiah 29:11 referring to Israel…
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¡Felicidades, has recibido un voto del EmeeseeseTrail!
Esperemos las criptos ayuden a que salgan de esa situación :/ ¡Un abrazo ana!
Hola queridos amigos del @emeeseese trail. Gracias por el apoyo. Es de gran aprecio para mi. Les mando un cariñoso y fuerte abrazo.
Great piece of work @arquiatra
One only question: do you think popularity of crypto would still be growing in your country (as a payment tool) if you couldn't trade it to FIAT (usd) currency? Im wondering.
Yours
Piotr
Hello @crypto.piotr ... good question !, my opinion is YES. Definitely cryptocurrency is the best thing that has happened to many Venezuelans and is an escape valve under such pressure; and one of the reasons is that I mention in my post.
The dollar in this country, despite the exchange controls and penalties that the government has tried to impose, has become a currency of obligatory use because it has been the way in which ordinary citizens have been able to cope with hyperinflation. It has been so much so, that the government has not been left with another alternative but to make its laws more flexible, and little by little it is being allowed to market with the dollar through cryptocurrencies because they, themselves, that is, the government, suit them. Remember that a high percentage of Venezuelans do not believe in the economic policy of the government and that the latter being cornered by international sanctions needs the people to oxygenate their economy and there is no more reliable alternative than the interrelation between cryptocurrency and dollar. On the other hand I think that if the government committed a new clumsiness and prohibited the exchange of cryptocurrencies for the dollar, surely Venezuelans would look for alternatives such as the euro, for example ... but something is certain .... We can not give up!
Thank you for being so responsive @arquiatra
Steemit indeed needs more people like you.
Appreciate, Piotr