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Venezuelan international airport to accept Bitcoin payments: Report

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Venezuelan international airport to accept Bitcoin payments: Report​

“We must advance in these new economic and technological systems to be accessible,” Maiquetia airport director said.


Venezuelan international airport to accept Bitcoin payments: Report

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A major international airport in Venezuela is reportedly preparing to start accepting cryptocurrencies like Bitcoin (BTC) as payment for tickets and other services.
Simón Bolívar International Airport is working to enable cryptocurrency payments to comply with local industry standards, regional news agency El Siglo reported on Sunday. Also known as Maiquetia, the airport is located in downtown Caracas, the capital of Venezuela.
According to Maiquetia airport director Freddy Borges, the airport plans to accept many cryptocurrencies, including Bitcoin, Dash and Venezuela’s oil-pegged digital currency, the Petro. He said that the airport’s administration would introduce new payment options in coordination with Venezuela’s National Superintendence of Crypto Assets and Related Activities.
The introduction of crypto payments at the Maiquetia airport would mark the company’s commitment to advance toward international standards and drive digital currency adoption, Borges noted. According to the executive, the crypto payment option would benefit foreign tourists, including those from Russia.
“We must advance in these new economic and technological systems to be accessible,” Borges reportedly stated.
The news comes amid Venezuela experimenting with a central bank digital currency (CBDC), with the country’s central bank launching the digital Venezuelan bolivar on Oct. 1. Unlike a CBDC, which is pegged to Venezuela’s national currency, the Petro is an oil-backed cryptocurrency launched by the government in February 2018.

Several airports and airlines around the world have been exploring ways to introduce crypto payments and blockchain-based functionalities in recent years, providing better options for cash payments and improving customer verification services, including COVID-19 test results. In March, Latvian airline airBaltic started accepting Ether (ETH) and Dogecoin (DOGE) as payments for tickets after rolling out crypto payments back in 2014.

 

spinalcracker

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crypto is creeping into the mainstream and is spreading worldwide

one needs to get in where they fit in or be left behind until they will be forced to give up their fiat in exchange for government crypto
 

BackwardsEngineeer

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Venezuela is such a beautiful country, gorgeous landscapes and warm friendly people... What the bugs have done to it is beyond mind blowing. All the while a few thousand miles away, we prepare for a similar fate. If the last two years proved nothing else, there is no stopping this train. We will be willful, deliberate and possibly excited participants... loads of new car stickers all over town. Depressed? lets go out to dinner afterwards we'll swing by the dealer and check out that new ranger
 

<SLV>

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Payment in Bitcoin must be confusing because the value of one unit is so high. How can you price anything?
 

ds_mustang

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Payment in Bitcoin must be confusing because the value of one unit is so high. How can you price anything?
What does it matter? You price things in fractions of a bitcoin. Most the time whatever is being bought is priced in dollars anyway and the website just creates a QR code for a Bitcoin purchase. You scan the QR code with your wallet app and see the fractional bitcoin, dollar value, and receiving address--you click "send" and you're done.
 

<SLV>

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What does it matter? You price things in fractions of a bitcoin. Most the time whatever is being bought is priced in dollars anyway and the website just creates a QR code for a Bitcoin purchase. You scan the QR code with your wallet app and see the fractional bitcoin, dollar value, and receiving address--you click "send" and you're done.
Because for small transactions it will be priced 0.000000000127288394.

Not very intuitive to figure out (mentally) how much you are actually paying.
 

ds_mustang

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Because for small transactions it will be priced 0.000000000127288394.

Not very intuitive to figure out (mentally) how much you are actually paying.
The wallet tells you how much it is (in dollars) and deals with the numbers, you don't have to mentally do much of anything. A bigger issue is the long send addresses you have to deal with, but you usually cut/paste or scan QR codes, so that's not an issue either. It's one of those things that once you do it, it's not as big a deal as you thought. It's certainly 100x quicker and easier than sending a bank wire, which is often your only other choice for the sort of transactions where bitcoin comes up. We won't even bother to compare to trying to make a payment in gold (either online or in person), but I'm sure you can imagine.
 
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BeefJerky

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crypto is creeping into the mainstream and is spreading worldwide

one needs to get in where they fit in or be left behind until they will be forced to give up their fiat in exchange for government crypto
The day you are forced into government crypto is the day all private crypto will be illegal. Have fun with your Monopoly set money. I am certainly not buying any of it.
 

BeefJerky

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The wallet tells you how much it is (in dollars) and deals with the numbers, you don't have to mentally do much of anything. A bigger issue is the long send addresses you have to deal with, but you usually cut/paste or scan QR codes, so that's not an issue either. It's one of those things that once you do it, it's not as big a deal as you thought. It's certainly 100x quicker and easier than sending a bank wire, which is often your only other choice for the sort of transactions where bitcoin comes up. We won't even bother to compare to trying to make a payment in gold (either online or in person), but I'm sure you can imagine.
If it's a 100x easier and quicker than sending a bank wire why are the fees more than a bank wire by the retailer?
 

ds_mustang

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If it's a 100x easier and quicker than sending a bank wire why are the fees more than a bank wire by the retailer?
Bitcoin fees usually aren't that bad. Right now it looks like they are around 88 cents. I pay $20 to send a bank wire.

Crypto fees vary wildly depending on the crypto. If you want really low fees use Bitcoin Cash or litecoin. Bitcoin has higher fees because it doesn't have much transaction bandwidth but has a lot of usage. Ethereum fees are even higher for similar reasons. Fees are lower on less popular crypto networks or networks with more transaction space. Bitcoin and Ethereum both have L2 networks where fees are much lower, but that's a whole other subject.

What does it cost to send and insure gold to a foreign country?
 

BeefJerky

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Bitcoin fees usually aren't that bad. Right now it looks like they are around 88 cents. I pay $20 to send a bank wire.

Crypto fees vary wildly depending on the crypto. If you want really low fees use Bitcoin Cash or litecoin. Bitcoin has higher fees because it doesn't have much transaction bandwidth but has a lot of usage. Ethereum fees are even higher for similar reasons. Fees are lower on less popular crypto networks or networks with more transaction space. Bitcoin and Ethereum both have L2 networks where fees are much lower, but that's a whole other subject.
I am not talking about trading one crypto for another. Any gold dealer in the country has higher fees for a crypto purchase than a bank wire. Why is that?
 

ds_mustang

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I am not talking about trading one crypto for another. Any gold dealer in the country has higher fees for a crypto purchase than a bank wire. Why is that?
First dealer I checked was APMEX, and their FAQ says they give a discount for using crypto:

"IS THERE A DISCOUNT FOR PAYING WITH BITCOIN OR BITCOIN CASH?
Yes. Bitcoin, Bitcoin Cash and Etherium payments qualify for a 3.0% discount."
From this link:

However for gold dealers that charge more for a crypto purchase I have a couple educated guesses why:
1) Because they are paying for a service to take crypto payments and convert it into fiat.
2) To cover costs from fees, slippage, and volatility associated with moving your crypto to fiat.