Hyper Inflation In Venezuela Makes For Interesting Times In Cryptocurrency


While the ongoing inflation and forced impoverization of the Venezuelan population is bordering on a crisis, the scenario surrounding government fiscal policy, imposed fiat usage and the role of cryptocurrency is creating an interesting incubation for the industry.

While mining fees have come down substantially from their average of $55 per transaction earlier in the year, Venezuelans are turning to a currency that offers more utility. DASH has seen an explosion in both price appreciation and adoption throughout this past week, as cryptocurrency moves towards being the go-to choice for the crypto-using portion of Venezuela that desperately needs a transaction-focused tender separate from government fiat.

So whenever there will be any problems with the government of fiat of any country such as hyper inflation, people will turn to digital currencies to avoid those problems. Looks like future of DASH is set now and due to its almost similar maximum supply as bitcoin, it would reach its highest when the market fully recovers and may compete with other famous currencies.