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That's interesting, but I'm pretty sure a physical dollar bill is more useful. A physical dollar can be used to make purchase stuff locally without a computer, and is easily accepted for a sale. In the example given in the article, the only reason the first guy in the article uses bitcoins is to buy an Amazon gift certificate (denominated in dollars) to buy stuff mail order.

The only real lesson to be had from the Venezuela situation is that far-left governments suck at basic economics and math. There is no lesson to be had about bitcoins in this situation.



The issue is that they are lacking physical dollar bills. Might as well try all venues. It shows that bitcoins can help alleviate currency demand. As others have commented, bitcoin adoption is steadily going up.


Is there lack of computers? Everyone has a smartphone these days. And bitcoin works over SMS, so you don't even need a smartphone.


Everyone has a smartphone these days.

In Venezuela? Are you sure?


So do far right governments. It's almost as if we need a sort of middle ground.


Or more dimensions?




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