What is Minimum Wage in Venezuala in Bitcoin terms? by john-robert

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bitshares · @john-robert · Jul 30 '18 (edited)

$2.01

What is Minimum Wage in Venezuala in Bitcoin terms?

How many satoshi do you think minimum wage would be calculated from Venezuelan Bolivares? 

Hyper Bitcoinization incoming?  IF you have not heard of hyper-bitcoinization it is theoretical monetary situation where goods/services are priced in Bitcoin during a hyperinflationary period.    https://nakamotoinstitute.org/mempool/hyperbitcoinization/

This post on Reddit Bitcoin estimates Venezuelan minimum wage to be 17,350 satoshi/month.  What do you think?

https://www.reddit.com/r/Bitcoin/comments/92utep/last_week_604_btc_were_traded_using_localbitcoin/

👍 yensesa, john-robert, apasia.tech, movement19, hashcash, britcoins, dalexx, hermannsol, masterroshi, ronaldoavelino, richforever, grayesque, mrstaf, goldkey, kimchi-king, solomon507, imbigdee, steembet.asia, obaseki, bennie-13, moistspotify, ira.timirova91, shadytension, araxachatryan, birkinx, raghandy, xericparrot, golfingglug, silicaundo, kindlytwist, wailibis, neanv, fieldsonce, dimka10, rondorajon8, mkrilov, andykon, sauranbek, byblik1811, krillin, khunfarang, digital-jesus, open-asset, anyadan, adeoyesteem, freerolll, justice442, henriano, brakofi, godsngh1, khunpoom, queenbibee, dwriterinme, barbievirtuous, ilukujoseph, therence, bulma, chinwengozi, mrandreas, kofie, boristy, sachiewerk, legko, dianation, and 13 others
👎 mattdylan

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@kwadjobonsu · Jul 30 '18

604 BTC in a week? That's a lot of money. Pricing their wages in BTC is preferably better than the USD, considering the high inflation they are experiencing.

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@john-robert · Jul 31 '18

True true.

👍 cheneats

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@surikowstepanuk · Jul 31 '18

@john-robert, I'm interested in the same topic as you, let's spin it together. I signed on to you, I hope you'll sign up for me. Always glad to meet new people!

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@john-robert · Jul 31 '18

Great to make you acquaintance

👍 cheneats

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