The people of Vietnam vnd losing information, bitcoin emerge
Bloomberg News reported on July 31st, although the Vietnamese government banned bitcoin transactions in any form, but the vnd exchange rate declined year by year makes people lose confidence in the vnd, so people began to shift to electronic money.
Recently, the founder of the Bui Huy portal lamchame.com Kien ignored the Vietnamese government’s warning, still using bitcoin as a website advertising fee payment currency. He said in a telephone interview in July 23rd, Vietnam: “the lack of open and transparent monetary management makes me really no longer trust vnd. Don’t trust this accumulation to encourage people to use bitcoin.”
Since 2004, vnd exchange rate has fallen by 26%, two and 2014 began to circulate the virtual currency for the Vietnamese government is undoubtedly one disaster after another. Vietnam has to follow the Chinese ban bitcoin transactions in the bank, this led to a cafe in Hanoi due to bear the pressure of business, stop online payment business.
Hu Zhiming VBTC Vietnam Co. Ltd (in the bitcoin exchange into local currency as the main business consultant) said in an interview recently: “bitcoin like electronic gold.” The devaluation is to promote the development of bitcoin quietly, because “people are looking for the most secure way of storing wealth”.