Bitcoin Price Hits All-Time High of $19,786, Topping 2017 Record

Re:Bitcoin Price Hits All-Time High of $19,786, Topping 2017... by lawn on Tuesday December 01, 2020 @02:21AM (#25263163)

You cannot send USD to Venezuela, only Bolivars, which isn't so good as hyperinflation will kill most of the value instantly.

One of the point of cryptocurrencies is that some countries may think certain things are illegal, but that doesn't make them wrong. To me helping to feed starving Venezuelans by sending them help directly is morally right, even if it was illegal.

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Re:Bitcoin Price Hits All-Time High of $19,786, Topping 2017... by jasonlaramburu on Tuesday December 01, 2020 @11:06AM (#25266363)

I agree that the hyperinflation in VZ is a problem, but is that solved by Crypto? BTC's prices is highly volatile as well. In a bear market, there can be significant price slippage even while the recipient is waiting for a BTC transaction to confirm.

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Re:Bitcoin Price Hits All-Time High of $19,786, Topping 2017... by lawn on Tuesday December 01, 2020 @11:39AM (#25266756)

Highly volatile, absolutely.

Yet it's nothing compared to hyperinflation. In May 2019 prices in Venezuela doubled in only two days... every day.

While Bitcoin is volatile it's relatively stable compared to what Venezuela and Lebanon are going through today.

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