It's easier to like Bitcoin when your national currency biggest banknote was 1,000,000 and months later it was "converted" to 1 and now it's worth only 0.04 USD. The country is Venezuela and the national currency is Bs (Bolivares).

Hi, I'm Venezuelan living here, victim of living in a country with bad politics and economic management. I had posted this somewhere else but I think the Bitcoin subreddit deserves it directly. Usually I post outside the crypto community, some people blame and mock me for being "crypto enthusiast", yeah, it's easy saying that when your inflation rate is less than 10% yearly and your FIAT currency is accepted and respected worldwide (Maybe I would be like that too in that situation). But for us living in countries with really bad economic management, using something not controlled by a central bank (which usually means politicians), is a relief. ​ https://preview.redd.it/65bjkavadsla1.jpg?width=780&format=pjpg&auto=webp&s=1184f24f95ddbf70c70fc07053ef4c996a41de14 That banknote is "old" while still in circulation, its face value is "1 millon" which is 1,000,000 Bs. (Bolivares) but because six zeroes were removed by law more than a year ago, not it's 1 "new" Bs, they didn't bother creating a new banknote so it's just like that people should understand it says 1,000,000 but it is worth 1. Of course a lot of problems specially with old people. Government just doesn't care. Exchange rate is 25 Bs. / USD, so 1 Bs. is around 4 cents. You need 25 of these to make 1 USD. Monthly minimum wage is 130 Bs. so around 5 USD. Or 130 banknotes of 1 Bs. submitted by /u/WorkingLime [link] [comments]