Bitcoin Transactions Plunge Amid Blackout in Venezuela

Bitcoin transactions and active addresses have seen a steep fall this Saturday as Venezuela saw what AP calls the “worst power and communications outage” which “reached virtually every part of the oil-rich country of 31 million.” That has coincided with bitcoin transactions falling by about 100,000, down from circa 370,000 a day to about 240,000….

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Venezuela Imposes Fees and Limits on Local Crypto Remittances

The Venezuelan government has introduced regulations for crypto remittances within the country, according to a decree published on Feb. 7 in the country’s official media outlet, Gaceta Oficial. According to the document, the National Superintendency of Crypto Assets and Related Activities (SUNACRIP) will now be responsible for taxation related to the sending and receiving of…

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Bitcoin Price Watch: Currency Spikes Following Increased Action in Venezuela

Well, well, well… It looks like the father of crypto might be getting some of its edge back. After weeks of meandering through the $3,400 range, bitcoin is back up to $,3600, marking a $200 spike during a time when price swells were considered a thing of the past. While present resistance sits at $3,800,…

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Bitcoin Trading Reaches All Time High in Venezuela Amidst Ongoing Economic Collapse

Bitcoin (BTC) trading volumes in Venezuela have reached a new all-time high amidst massive hyperinflation and an ongoing presidential crisis, tech news outlet TrustNodes reports Feb. 6. Bitcoin weekly trading volumes reached above 2,000 BTC (about $6.8 million) on peer-to-peer (P2P) exchange LocalBitcoins during the week ending Feb. 2. Venezuela LocalBitcoins Weekly Trade Volumes in…

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Venezuela Unveils New Crypto Regulations

Businesses must now register with the Superintendencia Nacional de Criptoactivos y Actividades Conexas, a government bureau. Venezuela has introduced a new regulatory framework for businesses working with crypto assets, according to an official gazette published by Venezuela’s Ministry of Popular Power for Communication and Information (MIPPCI). Businesses are now required to register with the Superintendencia Nacional…

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Venezuela’s New Interim President is Anti-Petro and Pro-Bitcoin

The U.S. now recognizes opposition leader Juan Guaidó as the leader of Venezuela. He took a public oath to swear himself in as the interim president of Venezuela on January 23, 2019. Guaidó is familiar with cryptocurrency technologies and has been promoting Bitcoin since at least 2014. Venezuela’s Interim President a Fan of Bitcoin Because…

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Bitcoin Venezuela Develops Tiny Mesh Nodes For Off-Grid Transactions

Mesh networks mesh [sorry] very well with the libertarian ethos of Bitcoin, freeing users from the tyranny of state-regulated ISPs. Necessity being the mother of invention, Bitcoin Venezuela are developing a mesh node little larger than an SD card. A Hot Mesh Mesh networks are a hot topic right now. They are able to provide…

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Venezuela Files Complaint With WTO Regarding US Sanctions Against Petro

Venezuela believes the US is unfairly targeting its national cryptocurrency. Venezuela has filed a complaint with the World Trade Organization (WTO), claiming that current US sanctions on the country violate a number of WTO rules and regulations. The complaint asserts that the “coercive trade-restrictive measures” placed on Venezuela’s national cryptocurrency, the petro, are non-pursuant with…

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Venezuela Decrees Crypto Operators Must Pay Taxes in Cryptocurrencies

The Venezuelan government has published a decree requiring taxpayers with crypto operations in the country to pay their taxes in cryptocurrencies. Similarly, operators of foreign currencies must pay their taxes in those currencies. The decree states that the change is necessary for the “strengthening of the current fiscal regime.” Paying Taxes in Cryptocurrencies The Venezuelan government…

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Embracing Utility in 2019: Unreliable Crypto Networks Will Lose to Hyperbitcoinization

Cryptocurrencies started gaining significant mainstream attention in 2017 and speculation brought coin values to unseen levels, before quickly deflating. Now, after a decade, it seems this technology is entering a new era that can actually move past speculation to embrace real-world utility. The only way this feat will be accomplished, however, is by offering a…

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Argentina Gets 7 New Bitcoin ATMs For Christmas

Argentina ends the year on a Bitcoin high, as Athena Bitcoin Argentina rolls out seven Bitcoin ATMs (BATMs) with more to come. This now makes it the country with the fourth highest number of BATMs in Latin America. Argentina Getting More Bitcoin ATMs Before 2018, Argentina was faring rather badly in terms of BATM numbers, with…

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Venezuela Begins Public Sale of National Cryptocurrency Petro

The Venezuelan government has opened up an exchange desk for the country’s national cryptocurrency at the headquarters of the Superintendency of Cryptoassets. According to the government, investors can now purchase the petro with a number of fiat currencies and cryptocurrencies. Delegates from China have reportedly purchased some with yuan. Venezuela Starts Selling Petro On Monday,…

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Venezuela Authorizes Six Crypto Exchanges To Start Selling Petro Next Month

Six crypto exchanges has been authorized by the Venezuelan government to start selling the country’s new national cryptocurrency, the petro, next month. Although Venezuela’s President Nicolas Maduro announced in April of this year that he had certified 16 crypto exchanges to facilitate the adoption of the petro, the national cryptocurrency will only be available at…

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Russia Mulls Oil-Backed Cryptocurrency to Avoid Trade Restrictions

As Russia prepares to step down the use of U.S. dollars in its economy, domestic calls for an oil-backed cryptocurrency that could be shared with other major oil exporting countries are growing. Crypto Pegged to Oil Being Explored “Hypothetically, an oil-backed cryptocurrency would allow oil producing countries to avoid any financial and trade restrictions that…

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Venezuela Demands Citizens Pay for Passports With Petro

Venezuelan authorities have found another way to impose the adoption of the state-issued cryptocurrency, the petro. Citizens will soon have to pay with the government-controlled digital coin if they want to obtain a travel document. Hundreds of Venezuelans are leaving the crisis-hit country every day. Also read: New Stablecoins: From Cryptopound and Metal-Backed Swiss Coin…

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How Venezuela Came to Be One of the Biggest Markets for Crypto in the World

Venezuela has been living with hyperinflation since at least 2014. Its national currency — the Venezuelan bolívar — hit an official inflation rate of 57.3 percent in February 2014, while independent currency analysts were reporting that, by that September, the real inflation rate had already topped 100 percent. In other words, the bolívar (VEF) was…

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DASH Adoption in Inflation-Prone Venezuela Provides Validity for Cryptocurrency

Venezuelans Turn to DASH and Cryptocurrency to Escape Rampant Inflation DASH (DASH)–Despite an otherwise bearish year for cryptocurrency, several different coins across the market have been experiencing a price revival. Throughout last week, NANO leapt from under $1 to above $3, posting a 300 percent gain in the span of days. DASH, another popular currency…

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New Venezuela Bolivar A 'Scam On Top Of Another Scam,' Says Media

The government of Venezuela pegging its national currency to cryptocurrency Petro and relaunching is a “bigger stunt” than 1920’s Germany during hyperinflation. Scam Me Once… That’s according to a scathing report in Wired August 22, which cites a number of cryptocurrency industry sources describing the country’s latest bid to stabilize its economy as “pure nonsense”…

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Crypto is Taking Over Venezuela, Due to the Country's Destroyed Fiat System

Venezuela is facing hyperinflation and international sanctions that have brought the economy and its people to their knees. In response, President Nicolás Maduro recently mandated that his Petro crypto will become the nation’s second official currency starting tomorrow, August 20. In relation, some believe a “post-fiat” world is emerging in the country, with both the government and…

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Bolivar ‘Anchored’ to the Petro to Be Issued in August, Maduro Says

A new Venezuelan fiat currency, ‘anchored’ to the nation’s crypto, the Petro, is expected to start circulating in the second half of August. The news was announced by president Maduro himself, along with other measures intended to improve the economic situation in the country. The ‘Sovereign Bolivar’ will have less zeros than the inflated ‘Strong…

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