Bitcoin was invented by Satoshi Nakamoto over eleven years ago. Bitcoin was meant to be an alternative system to the fiduciary money that does not belong to us and that can be controlled at will by the centralised agency that directly created it. That is what is happening right now in Chile.
Bitcoins are now available in more and more of the battles in which mankind needs it. In 2008, the US financial bubble burst and with it the world economy was torn apart.
The victims, however, were not bankers who played with money or regulators who had to anticipate and ensure the interests of the majority. The victims were millions of people. They found themselves in the street overnight.
Despite this, twelve years after the crisis, the Earth is still offended and all the consequences are visible, but let us just look at the percentage rates of banks in the EU, negative.
BTC is available whenever we need it
For the reasons that caused the breakup, and for all the events that have happened, we will not be talking much. However, it is important to note the role that BTC played in this process.
In Chile, the economy quickly began to feel a real havoc with what was happening on the street.
This was certainly reminiscent of the turmoil that took place in Hong Kong not so long ago. The situation in Hong Kong is actually becoming more and more turbid. Bitcoin is really a real tool for pressure here.
Bitcoin transactions continue to grow in Chile
Certainly you can see in Chile as the same amount of bitcoin sold in a week increased by twenty-four percent on localbitcoins.com. Despite the fact that it is still far from being a record number in the region, because also Venezuela is in crisis and in fact is definitely the first place.
According to Coindance, almost two hundred and thirty-nine billion Chilean pesos moved last week, which is about $300,000 to approximately purchase thirty-nine bitcoins. We must point out that while 180 258 722 million Chilean pesos were exchanged a few weeks ago, or almost USD 200 000 for twenty-eight bitcoins.
Although Chile is not a significant bitcoin market, the volume of trade itself has been growing steadily over the last two months. After reaching a minimum of eighteen annual bitcoins per week in July, this figure doubled in mid-October, according to the Coin Dance data available.
CryptoMarket’s partner said that, in fact, just before the crisis in Chile, some $100,000 per day was tracked, and on 12 November this year nearly $150,000 began, and since then it has not been able to increase completely.
In the middle of this process, banners began to be observed at numerous demonstrations in favour of cryptocurrencies, to the great detriment of traditional banks.
However, as protests in Chile are intensifying, we can expect an increase in the trade in bitcoins in that country.