Venezuelans Experience Help with Charitable Bitcoin Donations via ‘Crypto For Venezuela’ Reddit User
If there’s a country that has had an increasingly difficult time lately in their economy, Venezuela would be towards the top of the list. Hyperinflation has led the value of their local currency to plummet so low that the government took to creating their own cryptocurrency, just to keep the economy moving. They’re the subject of much pressure from the United States, as a result of the modifications to their sanctions, and their local debt continues to grow.
The Petro, the local cryptocurrency for Venezuela, occurred as a DASH fork, but the local citizens didn’t see it as a helpful move. Instead, many residents believed that the President of Venezuela, Nicolas Maduro, was manipulating them into giving up more of their own funding. As a result, they turned to the rest of the crypto industry, hoping to find solutions of their own. User “Crypto for Venuzuela” seems to be doing exactly that.
The user recently posted a video on Twitter that discusses how Bitcoin (BTC) has helped with charity efforts. The user spent Bitcoin sourced from a Reddit charity round to provide 500 children with the supply that they need at school, which was delivered with volunteers in Santa Claus apparel. The user captioned their video, saying, “A couple weeks ago I shared a video where bought a ton school supplies and clothing to be donated to kids! Today was that day! We delivered all the school supplies and Clothing to the kids Thanks for all your help! $BTC all of it was done thanks to you guys and Bitcoin!”
Traki, a local store in Venezuela, accepts cryptocurrency and became the source of all of these supplies. As the user collected donations, they were able to accept Bitcoin Cash [BCH], Ethereum [ETH], Litecoin [LTC], XRP and Tron [TRX]. This seemingly singular action could easily become a catalyst for change and support in remote areas.
Another Reddit user, meadowpoe, took a different approach, saying, “This is a really nice and selfless gesture, but what is not good whatsoever is going to the bcash subreddit later on and bash bitcoin about tx fees and surrender to all the stupid comments those subnormals made in your videos there… All comments you got in your video when you posted in that stupid sub was a comparison about btc bcash. They dont even give a f about what u r doing. Edit:/ and no, getting donations in bcash won’t make your life any easier.”