Venezuela – Fact & Fiction – Bitcoin Is Freedom

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Venezuela is finding itself in a very troubled situation, a coup is underway, why has it happened and what does it mean for Bitcoin?

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39 Comments

  1. I strongly disagree with almost everything you said, let me explain a few points

    – the US sanctions are not the cause of those countries extreme poverty, but rather it's the reprisal of free trade by the local ruling government

    what else can you expect from a country where opening a business is considered crime? The US is also not responsible for their other disastrous economic policies such as printing money like crazy

    – Maduro and Chavez were know for using starvation as a mean of increasing their power and obtaining votes, I won't bother to explain it here in details how it works since this is not a political channel but in short it means if your city/region votes in favor of the government you get to eat or else you starve, similar tactics have been used by the Soviet government to increase their power over the population.

    This is not a democracy

    – A few countries have been better off after a US intervention, this has to be studied case by case and can't be simplified as a general rule, for example Chile under the US backed criminal Pinochet was a bad place to live but it was better then the previous disastrous Salvador Allende who was turning that country into a 1970's version of current day Venezuela.

    and finally the most important point for this channel:

    – I'm very skeptical about Bitcoin role in Venezuela and I don't believe Bitcoin is any better for average Venezuelans then using the US dollar as a mean of a stable currency.

    The reason why Bitcoin exists in Venezuela is because electricity costs there are heavily subsidized by the government's oil money, this means Venezuela is one of the most profitable places in the world to set up a Bitcoin mining facility.

    So there is a very strong reason for Venezuelan government to do crack downs on mining operations since it's the government who is paying the heavy electricity bills.

    So how can you claim Bitcoin is freedom for Venezuela when it in fact depends on the government handouts?

    Want a easy and non-violent way to put a end to bitcoin in Venezuela? Just end the subsidies.

  2. without choosing sides, relatives of Venezuelans abroad are helping their families by sending BTC to their families. Bypassing US sanctions and not enriching the corrupt govt

  3. excellent work yet again Lark
    General Smedley Butler got fed up of the US Marines being used as a muscle man for corporate interests
    He wrote a book called 'War is a Racket'
    He was also approached by wall st/bankers to launch a coup against Roosevelt.
    interestingly grand daddy Prescott Bush was involved in the coup.

  4. Why do I get the sense, within the first 2 mins of the video, that when talking about a borderless means of transacting- as crypto is, that the WORLD should give any DAMNS about the fact that only Americans are taking offense to your relating digital assets to politics???

  5. well concluded video based on actual *facts*, not ms-media friedom(fries) reports based on fiction.
    p.s. one of the most important quotes i've heard about bitcoin was:
    ''the user (you) is in complete control of their money''.
    you have to wonder why there are so many institutions and nations who are desperately trying to demonize or hinder the bitcoin and blockchain existence. are there actually people out there, who are not directly involved with these banking cartel or other financial institutions, who actually believe they are doing so for your benefit, while bitcoin is essentially about you controlling your money ?

  6. If the masses only knew how many problems in the world cryptocurrencies could solve, dear Lark, we would have another bull run before tomorrow morning. On top of that crypto could do this peacefully by simply taking the power away from those who have clearly shown themselves to be unworthy of any power. The freedom and control over our funds that crypto gives us all is unheard of in the US dominated economic and financial world.

  7. Nice video mate, some interesting points that highlight the bigger picture behind economic control. I think some
    situations require external interference (for the benifit of the country's people and the region in general); however, most cases are unjustified and show that governments will resort to any measure, in order to create and take advantage of the power vacuum.

  8. Good deep dive. I have always been aware of the situation there due to the relation to crypto over the last couple of years and especially with the work DASH was doing there. But this is a nice deep dive summary with the relevant news info.

  9. Thank you for doing your due diligence, unlike so many others. Great overview of the United States's history in Central and South America and the current situation on the ground.

    A couple of tidbits to add:
    1) the exchange rate of Venezuela's Bolivar is being illegally set within the United States on sites such as DolarToday which, for example, had once set the Bolivar at a rate of 4000/1 USD versus 10/1 USD at the time; and
    2) Venezuela's constitution allows for regulated militias, for which over 1.5M citizens participate, and they all support Maduro — so add that to the standing military, and why the military dares not to turncoat.

  10. Lark, appreciate the updated historical facts on the US government interfering and causing more harm than good.

    Another point many never like to speak of is the fact that every third world country has yet to be in control of their own natural resources since the times of colonialism. Once these colonialistic ties are severed and truly utilized for the benefit for the people of the country as opposed to the wealthy, then and only then can countries like Venezuela or other countries around the world begin to heal from these wounds.

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