Sentences with phrase «venezuelan bolivars»

Since June, within a three - month period, the trading volume of LocalBitcoins Venezuela has quadrupled, from around 9 billion to 40 billion Venezuelan bolivars.

However, I nixed that in favor of my second favorite passage: Ely's conclusion (also edited) where he promises that» [U.S. Dollars and Venezuelan Bolivars] and the like will quickly fade into financial history, just as tulipmania [and the German mark, the Argentinian peso and the Zimbabwean dollar] did, serving solely to remind future generations of the folly of gambling on illusions of value [like fiat currency].»

This overdue disaster will occur because all [U.S. dollars and Venezuelan bolivars] have no intrinsic value.»

Officials have previously accused criminal networks of smuggling Venezuelan bolivars across the border to manipulate the black market exchange rate.

82.4 million Petro are already available for purchase for fiat currencies and top cryptocurrencies, although not for Venezuelan Bolivars.

Rest of World net sales were $ 798 million, down 15.6 percent versus pro forma net sales for the year - ago period, due to a negative 26.0 percentage point impact from currency, including a negative 17.0 percentage point impact from the devaluation of the Venezuelan bolivar in June 2015.

With the Venezuelan bolivar's value dropping from 3,100 to buy one US dollar to 103,000, Maduro is frantically seeking out solutions to the problem.

Over the past year, the Venezuelan bolivar has plummeted 95.5 percent against the dollar on the black market.

This has led to hyperinflation in some instances and destroyed the value of several countries» currency, including the Zimbabwean dollar and, more recently, the Venezuelan bolivar.

What could you buy with a Venezuelan bolivar today?

Venezuela has spiraled into a political and economic crisis over the past several years and the value of the Venezuelan Bolivar is now virtually worthless.

As the country's fiat currency, the Venezuelan Bolivar, continues to be subject to severe hyperinflation, Venezuelan citizens have been turning to bitcoin for some economic stability.

One could imagine, in theory, that an anonymous currency could help citizens get around economic sanctions and avoid the rapidly depreciating Venezuelan bolivar.

The same will occur with [the U.S. dollar and the Venezuelan bolivar].

Venezuelan president Nicolas Maduro recently announced a new cryptocurrency during a Christmas television special, amid the country's economic crisis and the plunge of the Venezuelan Bolivar's value.

Under many circumstances (if not most), fiat currencies keep inflating, including but not limited to the Russian Ruble, the Indian Rupee, the JMD, the Japanese Yen, Venezuelan Bolivar, and the (now defunct in Zimbabwe due to extreme hyperinflation) Zimbabwean dollar.

The nation's worsening hyperinflation has caused the popularity of Bitcoin and Ethereum to soar as people turn to these currencies as a more effective store of value than the Venezuelan Bolivar.

The Venezuelan bolivar, the Zimbabwe dollar, he believes, are already «falling away into bitcoin,» something he's convinced will happen to the world's weaker currencies over time.

There are more than 100 other fiat currencies in the world — Euro, Yen, Yuan but also Venezuelan Bolivar, Nigerian Naira, etc..

The main one we can start tracking is the Venezuelan Bolivar.

Black market prices for Venezuelan bolivar are now equivalent to 1 satoshi of a Bitcoin.

Venezuelan hyperinflation has now reached the level where one satoshi unit is now equal to a single Venezuelan bolivar.

Not exact matches

Thanks to their country's managed currency rates, Venezuelans are now pulling off epic scams as the value of the dollar spikes against the bolivar on the black market, Reuters» Girish Gupta and Andrew Cawthorne report.

Both poor Venezuelan retirees and wealthy business leaders are converting their bolivars into bitcoins online and then using the digital currency to pay for everything from doctor appointments and honeymoons to motorcycles and artisanal beer.

Dollars remain the go - to currency for many Venezuelans seeking to get rid of bolivars, but getting ahold of them can be difficult and generally requires a black market broker.

Venezuelans hoping to buy the state's oil - backed cryptocurrency using bolivars are out of luck.

If a secondary market for the petro arises (assuming it launches successfully, which seems quite unlikely), Venezuelans could conceivably purchase petros using bolivars.

The extremely high devaluation of the bolivar in recent years has forced Venezuelans to mostly use bank cards.

The Venezuelan economy is being crippled with hyperinflation, driving the value of the bolivar down to all time lows.

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One of its most intriguing options is the aptly named Octagon Museum, where famed Venezuelan liberator Simon Bolivar spent time in 1812.

In one of Venezuela's most impressive national parks, Parque Nacional Sierra Nevada, you will find the highest peak of the Venezuelan Andes, Pico Bolivar with an altitude of 5007 meters above sea level.

The conceit is this: on the first day, a gallery representative would be selling editions of a Calero work from behind the stand — the work is a stack of paper the size of cash Bolivars, the Venezuelan currency — that on the first day would cost one Swiss Franc, but would increase in price as the fair went on.

Venezuelan citizens could have preserved their personal savings / wealth by exchanging their bolivars into anything other than bolivars: dollars, gold, bitcoin, etc..

Venezuelans are perhaps the most famous example, mining and storing cryptocurrency to overcome the challenges of dangerously high Bolivar inflation.

However, petro could prove a much - needed solution as the Venezuelan fiat currency, the bolivar, has been in turmoil for quite some time now, as the country grows more desperate to fulfill their citizens» basic needs.

With the bolivar as good as worthless, they are providing Venezuelans with just about their only viable alternative.

Venezuela followed India however, President Nicolas Maduro said Venezuelans don't have to stop using 100 bolivar notes until 20 January 2017 as there is a delay in the printing of the new notes.

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The Venezuelan government has also published a buyers manual which states that investors can purchase the cryptocurrency either in fiat currency or cryptocurrency, but they do not accept payment in Bolivars.

This hyperinflation may be leading to the «Bitcoinization» of Venezuela, as more Venezuelans have turned to crypto as opposed to using the Bolivar, whose total value at one point last fall was only equal to 50 percent of the virtual gold in World of Warcraft.

Whilst adoption may currently be low, it is a solution that everyday Venezuelans are already using and with it's current satoshi parity with the bolivar, it makes calculation and adoption an easier prospect too.

$ 1 is approximately equivalent to 10,389 bolivars, and inflation is forcing Venezuelans to pay more for food and medicine, which are decreasing in supply and creating a real humanitarian crisis.