Version One Ventures
APRIL 21, 2020
which are the primary means of trading in countries like Venezuela (see this excellent study of bitcoin as a censorship resistant bridge currency). 4) Monetary policy / governance – This is a hot button issue and perhaps a bit less clear than the first three points. Bitcoin also dominates in p2p markets (localbitcoins, Bisq, etc.)
thebarefootvc
AUGUST 21, 2018
In Venezuela, where citizens have flocked to bitcoin in light of hyperinflation, the government countered by announcing a state-controlled cryptocurrency called the petro. The petro is currently valued by the Venezuelan government at about $60. The petro also does not trade on any exchanges.
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thebarefootvc
MARCH 4, 2022
Since its debut in 2009, Bitcoin has been heralded as a self-sovereign alternative to government controlled fiat. Yesterday, Infura, a cloud -based node network for Ethereum, cut off access for wallets in Venezuela and quickly reversed course blaming the outage in code that was implemented to comply with sanctions against Russia.
thebarefootvc
MAY 6, 2020
Those in countries that have previously experienced massive inflation (Zimbabwe, Venezuela, Argentina) or capital controls (China, India) have long seen relative value in an asset that is independent of government financial manipulation.
thebarefootvc
AUGUST 13, 2018
Similarly, in Venezuela, which has seen annual inflation of 4000%+, cryptocurrency serves as a safe haven. In order to protect themselves from such a move in the future, many people turned to the crypto market. Bitcoin was priced at a 12-15% premium on Indian exchanges vs US exchanges during that time given the increased demand.
Venture Chronicles
MAY 16, 2010
CARACAS, Venezuela — President Hugo Chavez urged supporters to use Twitter to blow the whistle on currency speculators on Sunday and announced that police raids on illegal traders would continue as Venezuela’s government tries to defend the embattled bolivar.
Hearpreneur
AUGUST 19, 2015
I originally came from Argentina, and lived in Brazil and Venezuela before moving to the US. I had previously worked at an executive level in the government, specialising in international relations. Mike & Aaron May, Pacific Issue ! #12) 12) We Wanted to Help. Thanks to Tracey Davidson, Adventure Snacks ! #29) 29) Stay at Home.
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