Note from the CEO: Another confirmation that bitcoin will continue to (or has already) become the global mainstream currency exchange mechanism for the world’s population. This article sums it all up by referencing Venezuela, a perfect example of why bitcoin works so well. Oh, did I mention innovative new ways to “beat” the regulators? Try that with gold.
Venezuela, China, Africa and other worldwide retailers that are experiencing currency devaluations, currency controls, inflation, etc are finding that those issues can be offset by using bitcoin. Local currency is devalued, bitcoin increases in value and global trade prospers. This particular Venezuelan private car dealer has trail blazed a new way to conquer government currency polices. This is a superior read.
“Retailers in countries experiencing currency devaluation and cash scarcity are forced to conquer the markets of other countries, using Bitcoin for selling local goods that are ready for shipping worldwide….
The acceptance and popularity of Bitcoin is rising in cash-deprived Venezuela as a viable alternative. With the Venezuelan currency devalued, the Bitcoin price has increased by 30%. Bitcoin volume is consistently reaching new highs as well. If the devaluation, inflation, and goods shortages get worse, and if people continue to feed the black market, then the price of Bitcoin will continue to skyrocket.
Bitcoin is a cheat code to open the way to the world market for cash-deprived countries.
Merchants are finding an alternative way to sell their products whether they be new or used. Such is the case with one private car reseller, Joubert López, who was introduced to Bitcoin in September 2014. Since López began selling his Mercedes-Benz Classic Coupe collection with Bitcoin to rise above currency difficulties, he has become a global trailblazer and leads by example for other car resellers and dealerships.”