Venezuelan political crisis and cryptography

President of Maduro Venezuela is in the doldrums. On January 24 (local time), US Secretary of State Pompeii promised humanitarian aid to the Venezuelans who had been pessimistic about the Maduro regime, while opposition leader Juan Gideido, instead of President Maduro, “He said.

In addition, Pompeii also reported on Wednesday that Maduro asked Britain not to have access to the foreign currency reserves of the Bank of England. Venezuela’s foreign reserves are $ 8 billion, of which $ 1.2 billion is deposited with the Bank of England.

Meanwhile, President Maduro has also launched Petro, the government-led cryptographic cripple, in response to hyperinflation. If the President of Maduro is to be in real decline, will the currency industry be positive or negative?

At the end of 2017, opposition leader Hyundai Chairman Lee criticized Petro by tweeting a currency like a joke made by the Maduro regime that he uses to deceive people. Petro sales are illegal.

Currently, Venezuelans are being asked to use Petro to get their passports. Last December, the Venezuelan government turned out to automatically exchange monthly payments for pensioners to Petro. There are reports that seven out of the 16 small exchanges that try to force Petro to sell Petro in September last year were not able to identify the material on the Internet.

However, cryptographer investor and analyst Max Keizer said on Twitter that the Venezuelan president is a fan of Bitcoin, and that in an economy that does not work, bitcoin conversion is the smartest way they can.

Acting Venezuelan President is a fan of #Bitcoin . Good news. Maduro’s Petro was never gonna work. Converting economy over to Bitcoin would be the smartest thing they could do. https://t.co/duertp0nk3

– Max Keizer, tweet poet. (@maxkeiser) January 24, 2019

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Actually, Mr. Hiido also welcomed the exchange of money between the statutory currency Bolivia and Bitcoin by raising the tweet on the Bitcoin Exchange in 2014. The rise of Chairman Hiido, known as a bitcoin supporter, may be a turning point in the currency industry.

On the other hand, Venezuela’s bit coin trading volume is shifting to one side. Over the past few weeks, Bitcoin trading volume has topped its peak in the P2P trading platform LocalBitcoins. It is reported that Bitcoin ATM will be installed soon. In addition, smartphones that can trade passwords dashes sold by South American mobile operator Kripto Mobile are also gaining popularity in Venezuela.

Marty Greenspan, chief analyst for eToro, a cryptographic trading platform, said that in the past two and a half months, some 6,000 smart phones have been sold worldwide, with 53,000 of them sold in Venezuela. In Venezuela, where statutory currency has lost credit, there has been a report that uses dashes that trade faster than Bitcoin and Etherium to make shopping and dining the same as usual.