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RE: Ripple probably did one of the best advertisements in crypto history just now
Huge Emphasis on no coins transfer transaction fee, Steem can be an absolute game changer on this field, for example bitcoin cash even through it has a bad rep, is used more frequently between people here in my country Venezuela because paying those 2-3$ bitcoin fees may be dust for some people, but for us down here it means a lot and that's why we use bitcoin to hold value but bch to do small transactions and steem is picking up a lot of heat too down here! there are thousands of Venezuelans here earning sbd and steem and then selling that to exchange houses here on steem that change your sbd/steem to our local currency.
1 sbd is worth more than a monthly wage for example, so go figure :-D
Can you pay in STEEM and SBD in Venezuela? I've seen ads for a thing called Steempays? Is it a service through which you can pay your bills using STEEM or something?
You can not pay directly in Steem/Sbd here in Venezuela, but there are many exchange houses popping up here on the platform that buy your steem/sbd for VEF and they deposit you the money directly to your bank account, its pretty cool. steempays is one of them but to my knowledge so far, there are 3!
That's cool. For Bitcoin, there are services that allow you to pay your bills using Bitcoin. The service provider does the conversion.
It would be impossible to use bitcoin to pay for services here in Venezuela, because for example, in my house, we pay 30.000 VEF for 1 month of electricity and 1$ is around 1.1 million VEF.... water is almost free too, the government subsides most services at the expense of the rest of the economy... Because if you raise services to what they should cost most people earning minimum wages would find themselves on a dilemma between buying food or paying the services.
Another fun fact that hits the pockets of people out in the world is, that a full tank of gas for your car cost less than 0.01c! A full tank cost around 500 VEF! But 1 Kilogram of Meat cost around 2 million VEF! If only you could feed yourself with oil and gasoline :^)
I totally missed the point of the initial comment, we can't pay for services with bitcoin because the fees are way higher than what we are paying for!
My point was that there could be a service that allowed you to pay your bills using STEEM and SBD because those cryptocurrencies have no direct fees.
I didn't know and can't real work my head around this. The gap is gigantic.
In a hyperinflationary situation you have to level up your math skills to be able to do math with insane numbers that you didn't use to work on your day to day basis, imagine paying 1$ for a chocolate bar and in 5 years you are paying 800000$ for the same bar, so goes everything else, its insane.... especially on the elderly, they tend to get ripped off the most because its pretty hard for them to do the proper math.
sad, it is so sad. it is lovely to hear from a local's mouth though, it would be nice to see more of your posts though, looking forward.:)
Wow, as of now I stop whining when my post makes "only" 1 SBD :) But seriously, I was aware of the inflation but this is just crazy.
I don't even follow the inflation numbers anymore, i think the numbers for last year where around 8600% and this year should be worse!
Reminds me of old times in Poland were everybody became all of a sudden a millionaire, but just on/with paper :)
crazy, it IS crazy.