Startling news from the South of the usa. The European Central Bank earlier this week indicated that in order to be extra sharp around the cryptovaluta, the bank of Venezuela, a request is received to Bitcoin in its custody.
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Bitcoin in Venezuela
The central bank of Venezuela, is investigating the possibilities of Bitcoin (BTC) and the Ether (ETH) to hodlen. In this report, an anonymous source at the international monetary Fund.
The oil and gas company Petróleos de Venezuela SA (PDVSA) has made this request to the bank to be deposited. The PDVSA, a state oil company, which means that all the shares are in the hands of the government.
They have problems with international orders due to the sanctions imposed by the United States of america and against president Maduro. U.s. banks to reject the payments of the companies out of Venezuela.
Last month, the company received $700 million of China’s yuan within, as a consequence of the sanctions.
Apparently, it is a request to the bank to accept payments in Bitcoin and Ether, to accept it, so that it has the suppliers in the cryptocurrencies that can be cashed out.
This would mean that all the coins in a reserve account (the state treasury), the bank will be added to you.
It is a remarkable fact that they are also in the Ether, call it as currency. Because the purpose of the air is not as the currency of the act. Initially, it was only referred to as ” gas ” for the ethereum network.
Computer and Petrol
It is a formal request to the bank, means the receiving and storing of cryptomunten. But in Venezuela, has been working with the computer.
The country is hyperinflationary economy, so that the Venezuelan bolivar is constantly losing value that is. Bitcoin turns out to be a way for a lot of people.
If you had $1,000,000 in Venezuela’s currency, in 2013, less than 10 years ago, it’d now be worth less than 37 cents.
If you had $1,000,000 in Venezuela’s currency in 1999, and less than 20 years ago, it’d now be worth less than 1 cent.
— R (@Rhythmtrader September 25, 2019
With the petro dollar, the country is also a leader in the field of a national digital currency. Maduro also gave up this year, and in order to get to the issue of the digital currency are to be implemented. This coin is backed by the oil reserves of the country.
In the hope that it will be the collapse of the global financial system, examines Venezuela’s central bank, to propose that cryptocurrencies be taken into account in the international reserves of the country.
These reserves are now the lowest in 30 years. With the application of the oliegigant, this would be a very, very concrete, and it is a hot topic now.
Comments
Twitter responded positively to the news. The adoption of a single Bitcoin reached a new level: governments and central banks to think seriously in order to be BTC, but to embrace it. However, the reactions are not only positive.
Bitcoiners are celebrating the central bank is the 9th most corrupt country in the world in their consideration of holding bitcoin
… as Petroleos de Venezuela is somehow owns some bitcoin, and it is desperate to use it to skirt U.S. sanctions.
Common sense indicates this is not at all bullish.
— Alex Krüger (@krugermacro) on September 26, 2019
The news is also a controversy among scholars. A well-known name in the bitcoinwereld is a long bitcoin short, the bankers’. Eric Dadoun says the following:
“On the one hand, we want to be the cartel out of play, put on by the local money, as well. On the other hand, applaud the government of Venezuela, from which the integrity is also in question), because it would kill Bitcoin look for.
Your narratives are comical.
First, the goal was to free the people living under oppressive and questionable regimes through the use of the BTC.
Now, we applaud the oppressive and questionable gov of Venezuela for looking to hold the BTC?
While we’re at it, short the banks, but the long-Bakkt? Sure. ?♂️
Eric Dadoun (@EDadoun) On September 26, 2019
Nic Carter and looks at it. He thinks it’s funny that the spot price driven, that is, if there is a “Bitcoin is a’ balance sheet‘ comes from.
The value of a bitcoin is a juíst that is, the resistance against the censorship. You must be at peace with them as people (which, you will not be able to appreciate and make use of the network.
Granted, it’s Venezuela, and it was a child or even an open secret, various govt agencies, there were accumulating), but it’s still interesting how this kind of news, it is considered prosaic.
nic carter (@nic__carter) on September 26, 2019
It is a fact that Venezuela is correct, Bitcoin is used to circumvent sanctions, it also shows that the currency is going beyond a protest-foreign currency, from the society against the status quo.
“The country that was the first start for Bitcoin in the hodlen, it will be the most fun” according to the Rhythm is on twitter.
Donald Trump
Do you remember the tweet when He left? He was, in July, about Bitcoin, because he softly said, not a big fan of it. The attitude is that Venezuela takes makes it likely that the fight against cryptocurrencies re-release of the explosion. Bitcoin seems to be a might be between the nations of the world.
It can also make sure that the Home is still more to be the best is going to do to get BTC to break down, because it’s the stamp “national security issue” is.
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto-Assets can facilitate unlawful behavior, as well as the drug trade and other illegal activity….
— Donald J. Trump (@realDonaldTrump) July 12, 2019
Finally, there are also rumors that Venezuela is in the possession of the cryptomunten such as Bitcoin and Ethereum to mine (stolen and recovered products).
Therefore, there must be a way to get around this is a great way to have somewhere to park.
One might think that since the central bank will do, to the point of, and facilitate the exchange of the coins of the money that is going to benefit the country as a whole, in the form of international reserves. It won’t be. The Government, the elite, has discretionary control over the resources. 2/3
— ⚡??He??⚡ (@Codiox) On September 26, 2019
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