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RE: Ripple probably did one of the best advertisements in crypto history just now
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.:)