Venezuela broke the record for transactions with bitcoin

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Venezuela broke the record for transactions with bitcoin

Data Coin Dance, which publishes the website BCFocus show that a pair of bitcoin/Bolivar to unprecedented trading volumes. It is noteworthy that these results were received last week, when Venezuela launched a currency called “sovereign Bolivar” (Bolivar change to a new currency at the rate of 100 000:1).

To sovereign state of Bolivar is pegged cryptocurrency Petro. Now the cost of Petro is estimated at 3600 sovereign bolivars ($60).

It is reported that the transactions with bitcoins were involved 506,3 million bolivars, which exceeds the previous record of 175.8 million set a week earlier.

Although the cryptocurrency market recently has experienced significant price fluctuations, Venezuelans continue to invest in him because he seems more stable than the Bolivar.

George Farias, founder of platform Cryptobuyer says:

We have not seen a single Petro in circulation, as well as its smart contracts, or rules, not to mention the blockchain.

The government is encouraged with the new currency, but it only adds to confusion among ordinary citizens. Sovereign Bolivar also became the subject of fierce criticism. The head of support services project Purse.io a citizen of Venezuela, Eduardo Gomez wrote on August 27 via Twitter that the inhabitants of the country, going abroad, must now inform banks:

This will directly affect the users of bitcoin. Many traders on Localbitcoins live outside of the country.

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