Crypto Update | An Ode to LocalBitcoins (and a Lesson About Maintaining Bitcoin's Public Goods)
Markets Outlook
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Why Local Bitcoins Fail?
Local bitcoins was the main reason for the huge use of Bitcoin in Venezuela during the 2017 through 2019 period. The company onboarded and verified users from 189 countries. At its peak in 2018, some 2,400 Bitcoin traded hands weekly. By 2021, average weekly volumes dropped below 1,000 Bitcoin. A week before it closed, only 283 Bitcoin were traded.
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