Now that the Venezuelans - the financial gurus of the world - have adopted bitcoin as their currency, is fiat finished?

Now that the Venezuelans - the financial gurus of the world - have adopted bitcoin as their currency, is fiat finished?

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You say that like bitcoin isn't fiat

i was just taking the piss out of brown marxists and bitmeme

this was posted on /bitcoin/ as though its a good thing

a bunch of financially illiterate spastic apes start using your bullshit meme and suddenly thats meant to be proof of value

if a venezeuluen spastic told me to breathe air and drink water id strongly consider my options given how dumb they are

They're literally using it as intended, when central banks fail bitcoin retains value

id probably buy a plane or boat ticket but what do i know im not a smart venezeluen

I think the """value""" of bitcoin is independent of Venezuela. You can't draw anything from OP's picture. Weren't they using Runescape money at one point?

Yeah whatever value it had it still has before a central bank crisis. (It has little value).

But it acts like a hedge in times of poor currency sentiment, like Gold, except it's way less stable. Added bonus you can take it with you, unlike gold (generally), but why wouldn't you just buy any other number of currencies that aren't as volatile as a store of value? Or bonds.

>Afraid of it getting seized

Well if the government is coming to seize your currency then you should be leaving the country not investing your currency in bitcoin

This is why brown marxists are dumb and i am wealthy

Can a Venezuelan afford a single satoshi?

i wonder how many 10/10 instathot venezeluans you could fuck for a week for a satoshi

I remember practicing my Spanish as a teen on Runescape. I was training fishing in the fishing guild. I was surprised at the amount of Venezuelans and how happy they were that I talked to them. It finally hits my heart that they were trying to provide for their families. I hope their country is successful.

The issue is that in venezuela they have weimar tier hyper inflation, and it costs millions to buy anything, which is why they use crypto, or just bartering, since most of them live in metal shacks and are broke like an african, I doubt that most of them will get crypto.

They're nonwhite though

i understand the situation, its just dumb.

if you have hyperinflation buy EUR, USD, AUD, CAD. why bitcoin? you feel like gambling with your savings? yikes

1 satoshi = 16 bolivars

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The suffering is sadly required to scare people away from the politics that's wrecked the country

It'd probably be worth more if they invested in bitcoin to be honest, even if it crashes it will still get them more than what they paid in bolivars earlier due to hyper inflation.

>bitcoin is a good investment goy

>in emergency situations its better to gamble with your remaining assets than to put them in a safe store of value

insane

By installs do they mean bitcoin mining? If you are in Venezuela that seems like a smart move. Their currency is worth less than toilet paper right now.

I can't wait till all euro countries suffer the same fate. We are getting real close.
I can't wait to see leftards claim "it wasn't real socialism" when a loaf of bread costs 1 billion €

>Put money in vault
>Hyper inflation kicks in
>Your money is now worth chump change, and what used to be the equivalent of tens of thousands of $USD is now worth a few hundred
This is why it would be safer to gamble on bitcoin, it is somehow safer than their nations own currency, and it will accumulate them some wealth on its own, assuming things go alright.

You know you can buy digital USD/CAD/EUR the same way you can buy digital Bitcoin?

With the added bonus of less volatility

I think he means make a smart money investment rather than a dumb money investment

>USD/CAD/EUR

Can these currencies be used locally in Venezuela?

>safe store of value
like bitcoin? you realize it was less than a dollar at one point?

>put all your money in venezualan bolivar, its less volatile........for now
wow that plan worked great

I'm not from there but I'd be surprised to discover merchants are more willing to accept Bitcoin than USD.

A volatile piece of shit is not a safe store of value. You could take all your venezeluenbux and buy google shares if you wanted to be an investor. Anyone who isn't absolutely retarded is going to put their remaining currency into a stable currency because they can't afford to lose more of their wealth in a volatile speculative investment like bitcoin.

Bunch of fucking mouthbreathers, and you're meant to be educated americans, how unlucky you'd be to be a dumb venezeluan.

yeah i forgot all currencies are the same, you fucking retard

>I'm not from there but I'd be surprised to discover merchants are more willing to accept Bitcoin than USD.

When I visited Mexico in the 80's I was surprised that they accepted the US dollar more greedily than their own currency.

>Tfw american
>Tfw we get to LARP Mad Max with all our guns in Nevada
>Tfw we get Pence to start the Inquisition in the Midwest
>Tfw we get a full on race war in the ghettos
>Tfw we get cannibalism from city people
God, I can't wait until it all collapses

everyone in the world wants USD. its the reserve currency, its strong, its stable. from first world countries to third world shitholes.