Try localbitcoins.com , you will be able to sell BTC at slightly inflated price with immediate payment into your local bank account.

Been there done that. Overall process took about 10 min average with a reputable sellers.

Around RM5k when BTC is around USD1.4k-ish.

The rest I keep for crypto trading as I earn USD20~USD100 average per day. No rush in withdrawing the fund anyway.

It's just like a commodity

As long as there are people willing to buy your coins, you will see cold hard cash within minutes

But if people decided to buy 0.25, and another one is buying 0.5coins

Then it might take a day to 2 for your btc to turn to cash

Yep

Bitcoin currently is a commodity rather than a currency

The price goes up because people believe the price will go up
In the end everyone is converting coins back to USD or EUROS for things

And currently USA and CN is trying to make payments easier than ever, these dedicated digital currency will go nowhere.

Why would I need bitcoin when I can pay for bills and my bowl of noodle using QR codes, and transaction can be done in China Yuan , secured and regulated

But yeah how do you categorized it, it isn't currency anyway

And you can't say that it's precious metal like gold and silver, because gold and silver albeit limited, they are consumed in a lot of processes, mainly electronics or as catalysts

Maybe there is a new term to define bitcoin

you could buy vpn servcies wif bitocin

and oppresed venezuelan,who had no money, can convert bitcoin into food,is that still worthless by your count?

I would like to correct u.  The Venezuelan has few way.  One those working oversea can exchange  foreign currency for bitcoin before remit back to family  members account ,  2 set up mining rig although getting risk arrested  3. Buy mining  contract  for those can afford it.  They have no option.  Their government imposed limit on how much they can withdraw from own account ,  their supermarket is open for few hour and no guarantee any food or thing to be sold  besides too expensive  . Those who can buy from black market

I already  give out 3  real life example so that argument is invalid. .  Do you know how much the cost of food,  medicine,  phone  in Venezuela black market?

not all venezulea that bad luck,they still alive till now,they must get food water from somewhere

and it hast been a decade since they spiral down,they still can sell car,tv,shoes whateva.......any fortune grandma left

u rely disregard all the news site who reporting???i dont made this thing up,go read from reddit.............u truly believe in all entirety of venezeulan land,theres not a single machine mining crypto???
or they could just use their old machine back when venezuela still ok ..............just keep em runnin wif that free electric

so you count bitcoin as money??something valuable,that can be converted into food??

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International +
 
0:00

Venezuelans are losing weight amid food shortages, skyrocketing prices

By Stefano Pozzebon and Patrick Gillespie May 3, 2017: 10:47 AM ET
Mariana Mejias can't afford to buy a bag of rice in Venezuela.
She lives in Mariche, an extremely poor neighborhood in the country's capital, Caracas, which suffers from severe food and medical shortages like the rest of the country.
If the government doesn't provide a subsidized monthly bag of food, Mejias would go hungry. Skyrocketing prices have made food at her local market prohibitive. The monthly food bag, worth 10,000 bolivares ($2.25), includes rice, milk, pasta, beans and a few other items.

A bag of rice at Mejias' local store goes for 8,000 bolivares -- out of reach for her monthly income of 219,000 bolivares or $49 on the unofficial but often used exchange rate calculated by dolartoday.com.
"Things are horrible here, I don't know how people are even surviving," says Mejias, a 62-year-old house cleaner who earns minimum wage plus a government pension.
Related: GM officially leaves Venezuela
Venezuela's socialist government, led by President Nicolas Maduro, raised the minimum wage 60% on Sunday to 200,021 bolivares ($45) a month, including food stamps.
But that won't buy much at the supermarket.
In March, a basket of basic grocery items -- including eggs, milk and fruit -- cost 772,614 bolivares, or close to four times the monthly minimum wage, according to the Venezuela-based Center of Social Analysis and Documentation, or CENDAS in the Spanish acronym.
Food shortages and soaring prices have led to troubling results. Last year, the average Venezuelan living in extreme poverty lost about 19 pounds due to the lack of food. Many of its citizens had to skip meals, according to a national poll.
Related: Venezuela raises minimum wage 60%

The food crisis is worsening as Venezuela dives deeper into chaos. On Monday, Maduro issued a decree that may allow his party to rewrite the country's constitution more to its liking. On Tuesday, Maduro suspended Venezeulans' right to carry firearms as weeks of anti-government protests stretch into the spring.
Amid the political chaos, food price hikes are staggering. A carton of 30 eggs cost 9,600 bolivares in March, up from 1,180 bolivares in March 2015, CENDAS reports.
"Food prices have gone sky high and the minimum wage is not enough for basic needs," says Eugenia Morin, 59, who describes herself as a middle-class housewife. She protested against Maduro on Tuesday.
While the 60% minimum wage hike may sound significant, inflation is expected to rise 720% this year and over 2,000% next year, according to the IMF. One bolivar is worth less than one cent.
Prices for basics are skyrocketing each month. Compared to February, prices in March for milk and cheese rose 33%, meat 19%, fish 17% and fruits 14%. Even mayonnaise cost 11% more.
Related: Venezuela only has $10 billion left

That's only the beginning. For toiletries the increases are even worse. Deodorant prices shot up 93% in March from February; detergent 62%; shaving razors 53%; toilet paper 27%.
Venezuelans either face food and toiletry shortages at supermarkets with empty shelves -- or skyrocketing prices for whatever items are available.
Medical shortages also illustrate the country's humanitarian crisis.
"If you need to have an operation, nowadays, you must bring your own medicines to the hospital," adds Morin, the housewife. "There are no supplies to attend the most basic emergencies."

Related: Cash-strapped Venezuela gave $500k to Trump's inauguration
Food shortages are the result of the government's long running policies. It focused on exporting oil and largely abandoned its abundant farmland. The government started importing the vast majority of food for its citizens.
But even when oil prices were high, that policy was barely sustainable -- food shortages starting popping up when oil was worth over $100 a barrel.
But with oil now hovering around $50 a barrel, Maduro's administration can't afford to import enough food and also pay down its debts to foreign creditors. For now, it's prioritized debt payments over shipping in food.
That end result: rising hunger and no visibility of where the next meal will come from.
One Venezuelan spent hours on Tuesday morning in Caracas waiting for a grocery store to open, hoping to buy food. The 60-year old man, who declined to give his name, wasn't hopeful he'd be able to buy food.
"Nobody knows what's going to arrive or what we could find inside. So we queue almost every day of the week, losing time and working hours to look for food," he said.
May 03
CARACAS

Focus on last paragraph please

Why are you  so angry.  You didn't  answer  my questions  on how food prices. Etc.  You even  didn't  at lest find out using Google . Yes it's matter to me.  I looking  at possibility that  our country might end up that so I can learn from it. Of course  that's those not matter to u anyway

lol

where your long long point

bitcoin is godsent to venezula blackmarket...........wif hard cash ,they might not be so lucky,everhting restricted

wif bitcoin they can buy on the net

it just wasnt dawn on you that people could just donate that bitcoin to their citizen,who sympathy wif em

with USD, they can also buy from the net

and we can also send euro to them, they can even buy nike with euro

why would i send bitcoin, and then they convert the bitcoin to euro and buy nike ?

lol,this is k,mangrish expected
but now u know there is a point rite,alteast one,wif this crypto,lol
well,if they blow their all their car on foods,they could survived for weeks

but if they obtain a "money printer",they could survived for months,lel