436 BTC were traded using LocalBitcoin last week,trading Bs. /BTC and BTC/Bs. (Bolivares, Venezuelan "official" currency).These 446 BTC were 1,610,000,00,000 Bs.(ATH).One BTC is around 4,000,000,000 Bs. Monthly minimum wage is around 2.3 USD.Inflation from March 2013 to July 2020 was 18,427,384,550%

Hi guys, as you might know I'm a Venezuelan "living" here.

August trade using LocalBitcoin closed under 2,000 BTC.

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Venezuelan Central Bank posted today the inflation rate.

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• From January 2020 to July 2020 it was 492%.
• From July 2019 to July 2020 it was 2,359%.
• From March 2013 to July 2020 it was 18,427,384,550%

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The trade is only measured using LocalBitcoin, there are other exchanges like AIRTM (this one banned by the Goverment), Uphold, Binance and so on, but no open data as far as I know. Most of the Localbitcoin trades are in Bolivares (BTC to BS and BS to BTC).

Here are more stats https://www.usefultulips.org/combined_VES_Page.html

I recommend reading this website, it is one of the best english websites for Venezuela news (they sometimes touch the crypto and economic situation).

https://www.caracaschronicles.com/

The average income of the Venezuela is 0.72 USD daily (2020 numbers).

https://www.caracaschronicles.com/2020/07/08/yes-venezuela-is-now-the-poorest-country-in-the-americas/

Any question let me know, AMA. But check my links and sources first.

Sources:

https://orinocotribune.com/comprehensive-minimum-wage-increase-by-78-in-venezuela/

https://www.npr.org/sections/goatsandsoda/2019/09/06/757822363/a-doctor-or-nurse-might-earn-6-a-month-in-venezuela-if-theyre-lucky

https://coin.dance/volume/localbitcoins/VES/BTC

LBTC listings https://localbitcoins.com/buy-bitcoins-online/ves/

Submitted September 02, 2020 at 02:15AM by WorkingLime https://bit.ly/3bfMnqC