63 BTC were traded last week only using LocalBitcoin in Venezuela, a 12 BTC decrease from last week. These 63 BTC were 9,095,0,000,000 Bs. (Venezuelan currency, Bolivares ISO VES). One BTC is around 137,000,000,000 Bs. Monthly minimum wage is 0.68 USD.

Sorry about the flood of Venezuelan post (not for me, but I think it also backs up the crypto grown in here, but I feel like I should keep posting these updates)

Some people have becomed these Venezuelan (and 3rd world countries post) post in comedy, quite good to be honest hehe, laughting is always good. Like I purchased a house with the moons I get here hehe.

Anyway, I'm Venezuelan living here, crypto enthusiast for these that don't know me.

These numbers I post are only measured using LocalBitcoin, whichs allow you to go BTC > Bolivares and Bolivares > BTC

We are talking abour 3-4 millon USD weekly, which is a good number for a country like the actual Venezuela, it used to be higher (even 6million USD weekly) but there has been a drop, I think fees and the new option available in Binance P2P (that allow exchange Bs. from and to BUSD, USDT, BTC, BNB, ETH and DAI) and other apps like Reserve, AirTM and so on.

See some listings in Binance BTC:

https://i.imgur.com/mHnRnFR.png

Yes, monthly minimum wage is less than 1 USD (0.68 USD to be exact), it's not a typo and I know it's hard to believe. It's currently 1,800,000 Bs. and 1 USD = 2,647,000 Bs. (offical price admited by the Venezuelan Central Bank). You cannot live with that, one NGO called CENDA states you need at least 300 USD monthly for a 5 members family to survive without any luxury.

Another NGO did a better research about the wages in Venezuela and found out the average wage of the private sector is around 70 USD monthly and the public sector is around 5 USD.

About NGO, goverment has started a campaing to chase them, I know a lot of them receive internationals donations using crypto and of course goverment doesn't like that

https://www.caracaschronicles.com/2021/04/20/maduro-wants-to-turn-ngos-into-informants/

That is why here, you need to be really low profile and if you do or post something goverment doesn't like, you have to take your security measures!

Sources (PLEASE check them!!!):

Drew Brinsky video (US traveler that came here a few months ago)

https://www.youtube.com/watch?v=JJ7A8J9O-3Y

https://www.descifrado.com/2021/04/13/ovf-el-460-de-las-remuneraciones-del-sector-privado-se-pagan-en-dolares/

https://www.usefultulips.org/combined_VES_Page.html

https://www.caracaschronicles.com/

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

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

https://www.reuters.com/article/venezuela-economy/venezuela-to-introduce-1-million-bolivar-bill-as-inflation-persists-idUSL2N2L401H

https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/

Any other question AMA!

Submitted April 25, 2021 at 10:49PM by WorkingLime https://bit.ly/3nmGz4Y