Just updating, 621 BTC were traded using LocalBitcoin last week in Venezuela (up from 614), where minimum wage is 5 USD per month. Yes, Venezuela. One BTC is 643,000,000 Bs. (Bolivares). AMA.

These volumes are only measured using Localbitcoin (LBTC) using their API (Coindance). Big part of that exchange come from Venezuelans that live abroad and send money to their families, miners, people that get paid in cryptos (freelancing) and even the own government. It is around 2400 BTC per month now. Weekly record was February 2019, 2400 BTC only one week.

Today exchange rate is around 1 USD = 75,000 Bs. (Official rate is almost the same, 74,600 Bs.)

Minimum wage (which is earned by a big chuck of the population, not like other countries) is 250,000 Bs. wage (less than 3 USD) + 200,000 Bs. food bonus (less than 3 USD) PER MONTH. Increased from 150,000 Bs. and 150,000 Bs.

Biggest bank note is 50,000 Bs. which is around 1 USD. You need to use debit and credit, bank transfer, cryptos and USD to pay anything.

Here in Venezuela situation is really hard, some people dont believe that amount is the minimum MONTHLY wage. I work and earn more than that (anyway, the amount is really low, I'm sure with that amount I would be living homeless in Colombia, Peru or Panama for example), usually get some donations from redditors and do some freelancing work (translating mostly) and it is really hard to keep up daily.

Sources:

https://coin.dance/volume/localbitcoins/VES/BTC

submitted by /u/WorkingLime
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Bitcoin News Summary – January 27, 2020 The post Bitcoin News Summary – January 27, 2020 appeared first on 99 Bitcoins.  LocalBitcoins traders from six different African countries have had their accounts disabled. The P2P platform cites guidance from an EU commission on countries requiring “an enhanced due diligence process” before they can be allowed access. These countries include Nigeria, Ghana, Ethiopia, Botswana, Libya and Tunisia. However, traders in other African countries are also reporting [...]

The post Bitcoin News Summary – January 27, 2020 appeared first on 99 Bitcoins.

 LocalBitcoins traders from six different African countries have had their accounts disabled. The P2P platform cites guidance from an EU commission on countries requiring “an enhanced due diligence process” before they can be allowed access. These countries include Nigeria, Ghana, Ethiopia, Botswana, Libya and Tunisia. However, traders in other African countries are also reporting [...]

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submitted by /u/nugjohn
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source https://www.reddit.com/r/btc/comments/euk1nu/automatic_make_easy_bitcoin_overnight_700/

Bakkt consumer app coming soon

submitted by /u/eleven8ster [link] [comments]

Gifting bitcoin

Getting married in a few months and I was thinking of gifting a little bitcoin to my groomsmen. Some don’t even really understand it, but I think it’s a cool idea. Anyways should I just make them a paper wallet and give that way. Any recommendations welcome. Thank you.

submitted by /u/Jargento
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Bitcoin and crypto as a safe 2020 heaven

The year 2020 has turned into a year of crisis and this is just the first month -The US-Iran crisis -The Australian bushfires -Taal volcano -#coronarvirus

Don't you think this will push people towards Cryptocurrency as safe haven and for quick and easy movement of money?

submitted by /u/eljaboom
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I don’t agree with the statement in the AMA that developers will set the agenda.

• I don’t agree with the statement in the AMA that developers will set the agenda. I had hoped the development agenda would be set by profit-seeking miners who give funds to developers for the specific projects miners have decided are worth investing in. I’m worried this could easily turn into a slush-fund boondoggle for developers, a sort of universal basic income for them that gives them more leeway to turn Bitcoin Cash into science project instead of the tight leash and collar with clear success metrics it should be.
• I don’t agree with the statement in the AMA that most of the funds will be “general donations.” I don’t think forking over a pot of money and then saying “figure out something useful to do” is a very smart way to get useful things done. This seems to be a recipe for the kind of money grubbing and inefficiencies you see in D.C. non-profits, public works projects, and grad-school programs. Developers have the incentive to try bloat the budget as much as possible to get as much as the common fund as they can. The money should come with very clear goals, timelines and specific financial incentives.

source

submitted by /u/MemoryDealers
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source https://www.reddit.com/r/btc/comments/eugk90/i_dont_agree_with_the_statement_in_the_ama_that/