Last week, Venezuela has set a new record for the bitcoin trading – perhaps because now the country has become more “cryptocurrency” than ever.
Venezuela sold 1075 bitcoins for 7 days
According to the monitoring site Coin Dance, despite the continued volatility of sovereign Bolivar, trading volumes in the seven days to November 3, has surpassed all previous highs. During this period, the p2p platform Localbitcoins sold a total of 1075 “Venezuelan” bitcoins (about $7 million), which is 10 coins more than the previous record. In bolivars (VES) is near to 1.6 billion, although two weeks ago the figure was 1.1 billion.
Petro and Dash
The reasons for this surge, it seems, a lot. The combination of inflation, control over the movement of capital, shortage of foreign currency and other things impairs the country’s ability to maintain control over their financial sovereignty.
At the same time, the government aims to get people to move on to the national Petro cryptocurrency, which is now, according to some, “suspiciously stable.”
The introduction of mandatory payments to Petro also contribute to higher prices. For example, the cost of the registration fee for the application for the passport is a large sum in bolivars, while Caracas began to take Petro just last month.
International pressure on Venezuela has also been strengthened, and the United States announced sanctions against Venezuelan exports of gold.
November 4 confidential Aldon Dash launched in Venezuela, the Dash scheme Text to receive this cryptocurrency as payment in retail outlets. Such payments are made using mobile devices, bypassing the need to connect the smartphone to the Internet.
The government had previously said that Venezuela became the second largest market for digital currency Dash, while there were allegations that Petro largely copies the asset.
Most aldonu also came from the critics, one of whom compared the introduction of the Dash with the “snake oil”.
There are good reports that commercial firms have started to accept the cryptocurrency. One Reddit user said the Department store Traki now works with five cryptomelane.