The battle between Fiat Currency and Cryptocurrency is still on going and Venezuelans might have just taken it to a whole new level. Will Fiat be abandoned and cryptocurrency be fully accepted? or will cryptocurrency eventually die out for Fiat to rule or maybe they both could just exist.
Well we don’t have the right answer to the above question but all three are possibilities of what to expect in the future. However it seems that in Venezuela the situation is quite different as rumor have it that they have taken a bold step towards the use of cryptocurrency.
In series of posts that surfaced on Facebook, Venezuelans are said to have thrown away their local currency on the streets. The reason for this is not so clear as little information was available. But what if they throw away their Fiat currency and openly accepts cryptocurrency. Well that is still just a speculation.
- Read Also: The BitTorrent Airdrop For Tron Holders
- Three Hackers nabbed in China over $87 million Bitcoin Theft
- What Are Decentralized and Centralized Exchanges
- The eFIN Decentralized Exchange
Table of Contents
Venezuelans Throw Away Fiat Currency On The Streets
A Facebook user with the name Tyler Boyes uploaded a post where fiat currency is seen flooding the streets. He captioned it saying:
“One day fiat currency will be worthless. This is the streets of Venezuela, they are literally throwing their money in the streets. #PAYATTENTION #CURIOUSCRYPTO“
Another Facebook user with the name Sanni Lawal Ahmed also posted something similar a day after Tyler Boyes posted his. Sanni Lawal Ahmed caption reads:
“This is CRAZY, people literally just throwing their currency away. Fiat money is worthless this is why we WILL move to Crypto. Can you throw cryptocurrency Dascoin or #Bitcoin. I Would love to get your thoughts on this”
Some persons who placed comment on the above post blamed the value of Venezuela money for the course of it been thrown away in the streets. Other users did comment something meaningful and cryptocurrency newbies showed some interest. see picture belowSomewhere last year and early this year, Venezuela have been linked with the Petro Crypto as the official cryptocurrency of the country. Is it possible that the country is now abandoning its fiat currency for this Petro Cryptocurrency? Well we still can’t fully give an answer to that question.
- Read Also: Uzbekistan’s Presidential Decree Sets the Stage for Legalizing Crypto
- Russian Labour Market in Strong Demand for Crypto and Blockchain Experts
- Google Joins Apple by banning Crypto Mining Apps from Play Store
- Litecoin Price falls below $97 first time since This Year
Venezuelans have thrown away money in its streets but if its due to the fact that they accept cryptocurrency we can’t say. But one can conclude that Fiat currency is gradually losing its value in the face of cryptocurrency.
What do you think about Venezuelans and their action of throwing money in the streets. What do you think is the future of Fiat and cryptocurrency, please use the comment section below to tel us what you think.
Please make use of the share buttons below to share our posts on Facebook and Twitter.