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RE: Bitcoinization, what is it and is it happening already?

in #bitcoin7 years ago

Your numbers aren't exactly accurate. I can tell you that from Venezuela. However, the point you make is still accurate. I know people making a living just from steemit, and it has certainly helped me improve my living standards. You have no idea the difference it makes to have an income in currencies other than Bolivares, however small.

As to Bitcoin taking over, it's farfetched yet possible. There are already many businesses operating exclusively with dollars, but I do know a couple people making transactions in Bitcoin. It's untraceable, so the government can't keep up with you, and in Venezuela, that's literally the best thing you can hope for.