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Thursday, September 28, 2017

Crypto News: In Bitcoin Testbed Venezuela, 1 Bolivar Now Equals 1 Satoshi

In Bitcoin Testbed Venezuela, 1 Bolivar Now Equals 1 Satoshi

Venezuela’s Bolivar (VEF) is now worth just one satoshi as hyperinflation takes an ever deeper hold in the struggling country.

The latest ‘exchange rate’ stems from listings for p2p trading platform LocalBitcoins Thursday, uploaded to Reddit by eagle-eyed community members.

The price per Bitcoin in VEF, which uses unofficial exchange rates a fraction of the government-sanctioned $0.10 per VEF, is currently around 104 mln.

At Thursday’s BTC price of $4,250, this makes one satoshi equal to one VEF at the unofficial rate - both are worth around $0.00004.

Full story at

Source: CoinTelegraph

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