Bitcoin World #4 - Venezuela: Bitcoin Won’t Fix Venezuela with Javier Bastardo
Your browser doesn't support HTML5 audio
Venezuela: Bitcoin Won’t Fix Venezuela with Javier Bastardo - WBD194
Download Episode MP3 File
The file will open in a new window. Click down arrow to download the file.
Location: Caracas, Venezuela
Date: Thursday, 13th February
Project: Cointelegraph
Role: Journalist
Venezuela is many years into a political and economic crisis. Rooted in the Hugo Chavez presidency and continued by Nicolas Maduro, Venezuela is a mafia dictatorship wearing the cloak of socialism.
Years of economic mismanagement and corruption has led to financial disaster in Venezuelan, comparatively worse than the Great Depression, Zimbabwe's 2008–2009 hyperinflation crisis and the breakup of the Soviet Union.
Hyperinflation led to significant growth in poverty, starvation and mass migration, with millions leaving the country. With the collapse of the currency, many Bitcoiners, including myself, asked whether Bitcoin could help. Could Bitcoin reduce the impact of hyperinflation? Could locals mine Bitcoin at low energy costs to earn an income? I visited Venezuela to find out.
In this interview, I talk to Javier Bastardo, a journalist for Cointelegraph, based in Caracas, Venezuela. We discuss Venezuela's political and economic situation, hyperinflation and the reality of Bitcoin adoption in the country.
00:04:40: Introductions
00:07:21: Chavez
00:08:12: When did problems start to appear
00:11:04: Maduro
00:13:56: Riots in 2016/17
00:19:37: Pro-Maduro rallies
00:22:09: Opposition leader Guaido
00:26:15: Election corruption
00:30:28: Taking control of the press
00:33:03: Cryptocurrencies
00:41:06: Currencies used in Venezuala
00:45:42: Digital spending and Pago Mobile
00:47:15: Hyperinflation
00:47:41: Use case for Bitcoin
00:49:59: Petro
00:53:19: What is preventing widescale adoption of Bitcoin?
00:59:02: Lack of savings culture
01:02:28: Bitcoin Cash misinformation in Venezuela
01:04:14: Other cryptocurrencies
01:09:28: How to help
01:10:55: Final comments
SUPPORT THE SHOW
If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:
Become a Patron and get access to shows early or help contribute
Make a tip:
Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | TuneIn | RSS Feed
Leave a review on iTunes
Share the show and episodes with your friends and family
Subscribe to the newsletter on my website
Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube
If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.
SPONSORS
Connect with Javier:
On Twitter
Mentioned in the interview:
Other relevant WBD podcasts: