37 BTC were traded in Venezuela last week (only measured using LocalBitcoin), highest since Sep21. Monthly minimum wage is 130 Bs. (Bolivares) -around 25 USD-. One BTC is around 152,000 Bs. (Bolivares)

Hi, updating this week numbers, as you probably know I'm a Venezuelan "living" here.

Weekly I keep track of the traded amount in BTC/ Bs. (Bolivares, our currency).

Years ago this number was so high, over 2,000 BTC weekly in 2019! . These numbers are only with LocalBitcoin that works here and it is the only "exchange" that has public stats. LocalBitcoin is not the leader by any means, leader is Binance which high presence here, but not public stats! Also, Reserve, AirTM and Uphold are used here. That is by from the point of view of LocalBitcoin the amount has been dropping!

Binance is king as you can go from Bs. to any cryptocurrency (back and forth), a nice way to escape inflation!

One USD is 5.2 "new" Bs. (Bolivares, national currency) and one BTC trades around 152,000 Bs.

Seven months ago, six zeroes were removed from the currency by the goverment, before that we had a lot of zeroes, one USD would have been 5,200,000 "old" Bs. and one BTC 152,000,000,000 "old" Bs.

Monthly minimum wage around 25 USD, average wage is like 70-80 USD a good wage for a manager is like 200-300 USD. Some NGO says to live one 5 members family needs around 500 USD. Last year inflation was 700% (down from like 2,000,000% years ago).

As I said before, mining here at low scale (like with GPU) is a dream, I haven't paid anything for electriciy for several years (this is common for residential places) and , I wish I had money haha. I pay like 1 USD for 3 months of electric service (and it is uncapped).

And you cannot underestimate the impact of moons for me, a really nice part of my income!

Some good articles:

https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/

https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/

Any question? Let me know and AMA!

Sources:

https://coin.dance/volume/localbitcoins/VED/BTC

https://coin.dance/volume/localbitcoins/VED

https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/

https://localbitcoins.com/country/VE

https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/