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21 sats \ 1 reply \ @Malos10_ 8h \ on: 2 ways to buy gasoline in Venezuela econ
en mi ciudad solo tenemos la gasolina a precio completo (0.50$) y igualmente tenemos que esperar que nos salga el numero de la placa y con cola por horas...
savings in that it grows in purchasing power forever and doesn't require timing the market. And perhaps that's why we're seeing institutional buying and little interest among ordinary people.
You nailed it with that!
Besides that, Venezuela is a country with many foreign sanctions, it is extremely difficult for an average person to have a bank account that has access to dollars, so the easiest way right now is to have a Binance account and use USDT.
Yes, very few people have a complete understanding of Bitcoin in general, but it is interesting to see that they have used USDT simply to escape inflation.
The market will always be the market and people with enough knowledge will know how to take advantage of it, so it's not entirely a bad thing.
It wasn't product of an advertising campaign; here the use of Binance and USDT arose naturally as a result of wanting to avoid inflation/devaluation of the Venezuelan currency and have some way to save "dollars."
Many people outside the country use this way to send money to relatives within the country, rather it was a network effect
It wasn't a prey or a product of an advertising campaign; here the use of Binance and USDT arose naturally as a result of wanting to avoid inflation/devaluation of the Venezuelan currency and have some way to save in "dollars"
but most of the people doesnt even hold for long term
Most people don't fully understand Bitcoin and its benefits. They know about USDT because it's what they've used as a "spending" tool, not as a long-term saving tool.