1/ Let’s talk about Dash in Venezuela and why their stupid shitcoin is exploiting the country with propaganda.
The @Dashpay marketing team and bag holders will wax lyrical about how Dash is helping the people of Venezuela. They aren’t.
The @Dashpay marketing team and bag holders will wax lyrical about how Dash is helping the people of Venezuela. They aren’t.
2/ Let’s break down the situation. Firstly Caracas is different from the provinces and in Caracas there is a very clear rich and poor divide.
In the provinces they have intermittent power, the people are super poor and can’t access basic supplies.
In the provinces they have intermittent power, the people are super poor and can’t access basic supplies.
3/ In Caracas the East of the city, on the surface feels like any cosmopolitan city:
- Large billboards for Pepsi etc...
- Construction
- Nice cars (passed a garage selling Porches)
The West is propaganda town and more dangerous. There are vast slums which circle the city.
- Large billboards for Pepsi etc...
- Construction
- Nice cars (passed a garage selling Porches)
The West is propaganda town and more dangerous. There are vast slums which circle the city.
4/ For the majority of people, the name of the game is survival. Average monthly salary reports vary from $2-6. Whoever is right, it is really low.
Remember this is the average, so there are those on more and those on less. Many work multiple hustles or rely on handouts.
Remember this is the average, so there are those on more and those on less. Many work multiple hustles or rely on handouts.
5/ We visited a humanitarian project in one of the slums which feeds single mothers and their children. These people have literally fuck all.
Many rely on government handouts, hence why the regime still has some support. Some have the Petro but don’t know how to use it.
Many rely on government handouts, hence why the regime still has some support. Some have the Petro but don’t know how to use it.
6/ There are five primary currencies in Venezuela:
1. Bolivar - this is the most used
2. Dollar - this is what people want but is not always available
3. Petro - mother of all shitcoins
4. Colombian Peso - used little
5. Bitcoin - used by a select few
1. Bolivar - this is the most used
2. Dollar - this is what people want but is not always available
3. Petro - mother of all shitcoins
4. Colombian Peso - used little
5. Bitcoin - used by a select few
7/ Quite interestingly, the economy is highly digitised and the majority of people pay using a Venmo style app.
Though not everyone has a phone, some share and many don’t have data services.
Though not everyone has a phone, some share and many don’t have data services.
8/ It doesn’t take many brain cells to figure out why Dash has close to no use.
Why would you use it as an MoE? The best currency for this is the dollar as it is the most stable. When you are living on a few dollars a month you really need stability.
Why would you use it as an MoE? The best currency for this is the dollar as it is the most stable. When you are living on a few dollars a month you really need stability.
9/ So what is the reason for someone with a few dollars to:
- Buy Dash on an exchange
- Find a retailer to accept it
- Wait for the payment to confirm
There is none, Dash only adds friction with no benefit.
- Buy Dash on an exchange
- Find a retailer to accept it
- Wait for the payment to confirm
There is none, Dash only adds friction with no benefit.
10/ But what about the retails accepting it? In a struggling economy it isn’t hard to convince retailers to accept a new currency. Truth is it’s a massive pain and the reports are that it was a waste of time.
google.co.uk/amp/s/www.coin…
google.co.uk/amp/s/www.coin…
11/ “Huge Dash billboards can be seen in the main streets of Caracas, and Dash has even given out cellphones with integrated wallets to boost adoption in the country as part of their well-known marketing scheme.”
12/ Any claims by Dash CEO Ryan Taylor are bullshit. He is a liar and a vulture exploiting Venezuela.
People are desperate and it is easy to fake adoption.
People want dollars.
People are desperate and it is easy to fake adoption.
People want dollars.
13/ Now they will claim the Coindesk article is wrong. They will throw some volume stats out there. They will ad hominem.
It doesn’t matter. They are lying and exploiting to promote their coin.
It doesn’t matter. They are lying and exploiting to promote their coin.
14/ The crypto MoE is a myth and Dash isn’t an SoV either.
It is just another coin which is good at marketing. But this marketing is really just propaganda, the likes of which Maduro would be proud.
It is just another coin which is good at marketing. But this marketing is really just propaganda, the likes of which Maduro would be proud.
15/ Looking forward to the latest round of cultists to tell me I’m wrong.
Triggered by Dash Public Outreach Manager replying you my thread:
Also, I’m a bit of a hypocrite, I used to talk a lot about how Bitcoin can help Venezuela. I was wrong.
It is desperate. People need dollars and Bolivars. They need support from NGOs and humanitarian projects. They need an end to the mafia state and the conspiracy bullshit.
It is desperate. People need dollars and Bolivars. They need support from NGOs and humanitarian projects. They need an end to the mafia state and the conspiracy bullshit.
