Having to live on a $3 minimum wage is something I had to process with questions unanswered. How is that even possible in the first place?
At the current rate $3 equates to 8380128.00 Bolivar so are we looking at the purchasing power of $3 doing better in Venezuela than the States since we are converting into USD?
If we look at it in South African Rand, $3 will give you R43.3 at current rate which can only buy you breakfast nothing fancy, a loaf of bread or porridge.
So basically it's impossible to live on $3 minimum wage!
QuoteEarlier this week. Nicolas Maduro, president of Venezuela, announced a minimum wage raise through its Labour minister, Eduardo Piñate, in a public support rally to Maduro’s government.
The raise of 300% takes the minimum wage to an approximated value of three U.S. dollars monthly, a number that is insufficient to cover the basic needs of a family even for a day.
Source
How that figure is reached and deciding it will be a minimum wage is baffling to me, hopefully Venezuelans on HIVE will shed more light on this.
The devaluation of Bolivar have caused Venezuelans to seek for crypto in protecting their funds as well as get online jobs outside the country for crypto payments, a popular platform for securing jobs is venezuelaworkers.com, the site reportedly have about 400 employers.
Fortunately cryptocurrency is coming to the aid of these people, looking at HIVE as means of income for Venezuelans $3 worth of HIVE will give 4860474.24 Bolivar at the current rate of HIVE $0.58 just about half of the minimum wage.
It is quite pathetic having $3 as minimum wage, something I fail to comprehend and kinds of depressing to me.
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