Venezuela Now: Crypto Still a Refuge, CoinSpice Attends Meetup

Venezuela Now: Crypto Still a Refuge, CoinSpice Attends Bitcoin Meetup

This time, your decentralized friend Linzerd went personally to attend a local meetup organized by some young folks from the crypto community here in Venezuela. The Bitcoin Cash community never stops, and now, even after a contentious hard fork, keeps attracting people to crypto. 

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Venezuela Bitcoin Cash Meetup

The setting was a mall in Venezuela, a country your decentralized friend happens to live in, one of the most heated cryptocurrency related destinations. We’re noticed by the crypto press not so much for adoption but by the existence of the Petro, the official state-backed coin created by our government. As you all know, Venezuela is going through a difficult time with sky-high inflation rates and wages that are under the $10 dollars per day mark.

Venezuela Now: Crypto Still a Refuge, CoinSpice Attends Bitcoin Meetup

Here is where crypto can have its use case test, explaining how they are a way of getting economic freedom by preserving buying power. Saving in cryptocurrencies is a real thing here, and even with the market drop of this year. They remain both stores of value and methods of payments in Venezuela. The country’s fiat currency, the sovereign bolivar, has experienced immense, and ongoing, devaluation.

There is a great opportunity to use cryptocurrencies as a means of exchange in the country. Venezuelan cash is difficult to find and pretty useless. Lines and lines of people wait every morning in front of banks to get some kind of cash. Cryptocurrencies are a neat solution to this problem because they present the opportunity of substituting traditional money and cash during micro-transactions.

Luis Rodriguez, Bitcoin Cash Ambassador

The meetup had two goals. First, it was designed to explain in basic terms what cryptocurrencies are, how they function, and what they might mean to the average person here. Luis Daniel Lopez took that task. Second, the Bitcoin Cash hard fork has been a hot topic for those already familiar with the space, and so my friend Luis Rodriguez, Bitcoin Cash Ambassador, was the one in charge of giving that part of the expo.

Venezuela Now: Crypto Still a Refuge, CoinSpice Attends Bitcoin Meetup

We chatted with Luis Rodriguez, event planner and speaker. He explains what he thinks about cryptocurrencies and his motivations for making this kind of event possible. What motivated you to do this event in particular?

Luis Rodriquez: A group of friends wrote to me when they heard about the fork, and I decided to make a meetup to explain what the fork was all about.

How do you think cryptocurrencies can help to relieve the Venezuelan crisis?

To me, there are several ways. First, as a guard against the raging inflation that Venezuela is facing, and, second, as a way of connecting Venezuelans with the exterior, and powering investors and startups.

Is this the first meeting that you organized? 

This is the second meeting. The first one happened earlier this year. This meetup was more informal and fluid. We shared a couple of beers with the assistants, talked about cryptos, and that had the expected effect.

Venezuela Now: Crypto Still a Refuge, CoinSpice Attends Bitcoin Meetup

What are your expectations for the future of BCH in Venezuela?

I think that as time passes, more Venezuelans will be onboarded onto the cryptocurrency train. And Bitcoin Cash has the opportunity to be one big favorite. So, we BCA ambassadors, Bitcoin Cash users, and cryptocurrency believers must get people closer to cryptocurrencies, especially to those who don’t know them yet.

Any other meetup planned for this year?

We haven’t planned anything else. For the next year, we want to do a bigger meetup with support from friends and cryptocurrency organizations.

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