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A comment on Bitcoin is a disaster. Parent comment

Re:Bitcoin is a disaster by cambalache on Thursday December 31, 2020 @07:42PM (#25599227)
It is ironic because the economy in Venezuela is fucked, but almost every crypto-service or novel online pay modality is a huge hit in Venezuela.There are many FOREIGN apps where the customer base is +70% Venezuelan.

Some links:

https://cointelegraph.com/news/venezuela-sets-new-bitcoin-vo...

https://www.coindesk.com/bitcoin-adoption-venezuela-research

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Re:Bitcoin is a disaster by wpietri on Friday January 01, 2021 @04:39AM (#25602022)
Taking that first one and looking at current graphs, it looks like we're talking volumes of less than 500 BTC/week for the last year or so: https://coin.dance/volume/localbitcoins/VES/BTC

If we call it a rough average of $10k per BTC, that's $5m/week, or $250m/year. That sounds like a lot, but it's still only ~0.1% of GDP. In contrast, if we look at M-Pesa in Kenya, they report for 2017 doing $62.6 billion in transaction volume, or about 80% of GDP.

So it's not clear to me that Bitcoin is a major player even in Venezuela.

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