Bitcoin hits $13,000 on Zimbabwe exchange

batang_bitcoin

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Quote from: Godric-Gryffindor on November 24, 2017, 06:51:06 AM

Zimbabwe is suffering from hyperinflation and political crisis led maney investors to invest to more safer and secure haven. Hyperinflation plus a political turmoil makes this country monetary and security came to what now a sorry condition.

I feel sorry for Zimbabwe, they are experiencing a lot of problems now. With the political problems now there it is really affecting their economy that leads them to hyperinflation. I hope they can recover after this disaster that's happening to them now. Cry

Jating

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Quote from: MiningSensei on November 23, 2017, 02:43:30 PM

I dont know what is really happening on that country, it is very crazy, and bitcoin is like gold for them.
I have been looking at their local forums from there, and people are always talking about money, specially about bitcoin because that might be their main purpose to be on those forums.

When is going to be the time in when we all are going to start seeing those zimbabwe's people spamming their signatures in there? lol. first it was those from those countries from Africa, then from Asia, and now probably from Zimbabwe, lets see how many of them are we going to see in here soon.

No, its not gold but oil which is a prime commodity on that country. They are in economic unrest till today and bitcoin is being used to store their wealth, becoming as a safe haven from local banks and just like Venezuela they are using it to buy things outside of their country. In response though:

https://www.coindesk.com/bitcoin-is-not-allowed-says-zimbabwe-central-bank-chief/

Now they are taking notice because bitcoin is really going up in their. Their Central Bank has to deal with it because their people just choose to park their assets on bitcoin, resulting to little money circulating around their economy.

But I would rather stay away from arbitrage though, too risky and you might end up losing. Just my .2 BTC

tanghere1

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Are you guys serious? how can that be? Omg I need to trade on zimbabwe market LOL

telecalm

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Quote from: sandwichman1 on November 23, 2017, 02:51:57 PM

Possible to arbitrate with that no?

What do you mean by arbitrate... is the the concept of buying in one country and selling in the other country?

firsttime99

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Wow that is very good but i think some idiot did that transaction that is why i would never invest in bitcoin if i did not know anything about it at all because it is about money and money should be the most important thing to everyone.

stompix

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Blackjack.fun

Quote from: Passive Coin on November 24, 2017, 06:30:09 AM

I am thinking about taking some journeys to Zimbabwe.
Just buying some BTC in Europe and then airplane jump to Zimbabwe, sell BTC.
$4K difference could cover plane and nice one week vacation there. Grin

What do you think?

Your nice one week vacation is in a country which is experiencing a coup d'etat right now.
Not only you're going to have problems getting there but you might not be able to get out of there if the situation escalates.

And as I said before, the volume on that exchange is roughly 2BTC with 1 BTC you might crash the price to 5000$ and your whole trip would be a genuine waste of money. Plus, do you honestly think you'll be able to board a plane out of there with 10k usd on you?

Besides, the prices are not even cose to what that shady exchange claims:
https://localbitcoins.com/instant-bitcoins/?action=sell&country_code=ZW&amount=¤cy=USD&place_country=ZW&online_provider=ALL_ONLINE&find-offers=Search

Godric-Gryffindor

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Zimbabwe is suffering from hyperinflation and political crisis led maney investors to invest to more safer and secure haven. Hyperinflation plus a political turmoil makes this country monetary and security came to what now a sorry condition.

Passive Coin

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Passive Coin - low supply coin with backing fund!

I am thinking about taking some journeys to Zimbabwe.
Just buying some BTC in Europe and then airplane jump to Zimbabwe, sell BTC.
$4K difference could cover plane and nice one week vacation there. Grin

What do you think?

Netnox

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Even here in India, the exchange rates in Localbitcoins is around 10% higher than the global exchange rates. One reason may be that the demand far outstrips supply. I think that the case will just be the reverse in countries where the demand is less than the supply (I am talking about countries such as Russia and Ukraine).

pginvest

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I think Zimbabwe and a few other countries have "amplified" currency problems. On the one hand it might be easy to dismiss them as edge cases, and it is worth taking a moment to reflect on the hardship the people there are enduring as a result of these problems - but it is also a good reason to continue our decentralised currency journey - to avoid these situations from occurring in the first case.

kidsrock

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Quote from: Wardtr on November 16, 2017, 11:02:03 AM

Is is real that Bitcoin hits $13,000 on Zimbabwe exchange ? Huh

really? when the time bitcoin hits $13,000? if this is true, then maybe the other exchanges will pump the price too so we can see the price is up for more. but its a good news for us that in zimbabwe, bitcoin is more famous than the other country so people is traded with the price and i think they have their enthusiast to have bitcoin before the price is up.

Lipe490

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Maybe the only people who can afford to buy bitcoin in Zimbabwe is the rich ones. I doubt that they have such a great volume or even demand. That's why the price is so high and they don't care to pay that price. Unless they have a government regulation to buy and sell bitcoins, it makes no sense to buy at this price when they can buy in foreign exchanges.

heureca

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Quote from: Wardtr on November 16, 2017, 11:02:03 AM

Is is real that Bitcoin hits $13,000 on Zimbabwe exchange ? Huh

Yeah, it could be real becuase African countries have big inflation. So more inflation for fiat money in country - more BTC price at its criptocurrency exchanges

Jhon3438

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Wow it looks so excited to trade my btc token and what exchanger is that in zimbabwe so that i will thread my btc.

passwordnow

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Quote from: chiggz on November 23, 2017, 02:22:03 PM

Quote from: passwordnow on November 23, 2017, 02:12:06 PM

Quote from: Opquar on November 21, 2017, 11:21:04 AM

These exchanges are disgusting, taking complete advantage of struggling citizens. Then again, nothing is stopping the same citizens from also selling higher, as long as the buyer is also in Zimbabwe. I guess all is fair.

They are not taking advantage of their citizens, if you know what's happening on Zimbabwe they have to do it to attract more investors to get in to bitcoin and besides there's an uproaring war there so everything's started to make their own move to make their economy stable. It's not available for people outside Zimbab so if you someone thinks that they can go at Zimbabwe and just sell their bitcoins, think again.

The same goes India. Here the current price of BTC as of now is INR 588000 which comes up to $9100. But the selling price is also almost close to buying price. Most of the trading is done within the country because of the the inability to effectively move INR. If not anyone could make shit loads of money by arbitrage. The free market of bitcoin is essentially putting a markup on BTC purchased with INR because the market itself is saying INR has less value than the official exchange rates, likely because of portability of INR itself and the restrictive regulations the Indian government uses to control INR.

Really? And in Korean exchange I saw someone on facebook posted a graph and shows almost $9,100. This is totally insane, each country does have their own prefer price for bitcoin to increase. What will be the next country to make the price of bitcoin higher than the universal price. It's all working out and makes the demand higher but there's no way for an outsider to sell to those exchanges.

pugman

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Quote from: Wardtr on November 16, 2017, 11:02:03 AM

Is is real that Bitcoin hits $13,000 on Zimbabwe exchange ? Huh

Yeah it is very much true and people are buying it too from what I heard,such is the demand for bitcoin back in Zimbabwe. The reasons for this demand is that their currency is getting weak,and the people living there are searching for alternatives,and what did they find? they found bitcoin. And now people are getting rich and no one is stopping them,I don't know why.

sandwichman1

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Possible to arbitrate with that no?

GoldenOrder

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Quote from: SyGambler on November 21, 2017, 09:25:01 AM

yeah I have seen this many times and wondered why the price in Zimbabwe is way higher Huh

I mean yeah there is high demand , but can't they figure out a way to get btc from traders in other countries ?? like having balance in ewallets like perfectmoney for example and doing trades here in the forums ??

is there something am I missing here ??

When a country is isolated is hard to get bitcoins from exchanges. For example, I live in Venezuela and exchanges such as Coinbase and the like, are not available here. So the only way for me here in Venezuela to buy bitcoins is at localbitcoins.com.

I can register in Coinbase and use its vault etc, but I cant buy/sell bitcoins in it. Same with many other exchanges websites.

For us, localbitcoins is the only place, and the rate there is like $500 more than the official rate. For example, if Bitcoins are around $8200, in localbitcoins is around $8700, but we have no choice but to buy it that expensive.

MiningSensei

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I dont know what is really happening on that country, it is very crazy, and bitcoin is like gold for them.
I have been looking at their local forums from there, and people are always talking about money, specially about bitcoin because that might be their main purpose to be on those forums.

When is going to be the time in when we all are going to start seeing those zimbabwe's people spamming their signatures in there? lol. first it was those from those countries from Africa, then from Asia, and now probably from Zimbabwe, lets see how many of them are we going to see in here soon.

unitrust

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Quote from: Mr.Stinson on November 21, 2017, 08:53:33 AM

no it is not. Right now we hit the 14k$ Shocked

what time do you see bitcoin hitting 14k?

Topic: Bitcoin hits $13,000 on Zimbabwe exchange (Read 756 times)