Topic: This man sells his cattle for Bitcoin in Zimbabwe! - page 2. (Read 3108 times)
That's a brilliant use of Bitcoin for cattle owners and farmers. Zimbabwe's economic crisis and their currency devaluation (their currency is almost in millions of currency notes and almost worth very very less) can foster Bitcoin usage for even the poor and boost remittances. I hope the Bitcoin exchange that they were talking about in the video does get setup in Zimbabwe, this would save a lot of time for the locals to purchase Bitcoin and make use of it.
Livestock market is really big in any countries and use of bitcoin in this unique field can boom the demand of bitcoin. Trading livestock for bitcoin in one way may help those farmers to know about bitcoin along with they may find it interesting if they can book some profit by just holding those bitcoins.
I think that this is a thoughtless and foolish, because a person can lose everything.
Yes unfortunately the paper money in Zimbabwe is basically worthless.
Most people, especially those in rural areas, are not going to have access to computers/ internet, so Bitcoin won't be an option for them.
One day it may be a possibility, but the idea of BTC being something that can help people in these situations is a long way off.
Most people, especially those in rural areas, are not going to have access to computers/ internet, so Bitcoin won't be an option for them.
One day it may be a possibility, but the idea of BTC being something that can help people in these situations is a long way off.
That's actually a pretty good idea, but Im not sure why he wouldnt just sell for normal currency
Seriously? This is why:
https://www.theguardian.com/world/2015/jun/12/zimbabwe-offers-new-exchange-rate-1-for-35000000000000000-old-dollars
There is no trust for the Zimbabwe "normal" currency.
With bitcoin they don't need to have a lot of fiat , bringing lot of them to the market, seriously?? with $100 trillion in Zimbabwe you don't even buy a candy bar. Bitcoin might not help economic situation out there at least they don't have to bringing lot of cash if they want to buy something however it constrained by lack of adoption of the bitcoin out there.
It is still too soon to use Bitcoin as FIAT replacement in everyday life - and certainly not in poorly developed country like Zimbabwe.
As far as I know Zimbabwe is currently using US Dollars as their currency. I still think it is better option than BTC, at least for now.
It could be a "good" news, but who wants to live in Zimbabwe? I mean, the country has a lot of problems (I was in other side of Africa and situation is very "strange", it's the only thing i can tell) and I think that be the owner of a bunch of cattle is not "so good as it seems" (if it seems...), be a merchant witha very fckd up currency could be a barrier to do everything linked with economy... I prefer a fcked life where I am living now. But taking this idea off (about the country itself), the attitude is pretty noble. But, however, all I know about Zimbabwe is the extreme inflation rates and people using very colorful clothes.
It's pretty amazing to see how far bitcoin has come and this move is going to help that man in finding money for his living with that corrupt government. More people in poor and corrupt countries should follow his example.
People will follow him in those kind of countries. In the beginning of the video, he says that there are a lot of problems people are facing when using Western Union and regular bank transfers.
Once word gets out that Bitcoin is an easier means of transferring money, a lot of people will use that over other services like Western Union when the word gets out.
A lot of people send money back to their families, so it's a whole new market.
That's actually a pretty good idea, but Im not sure why he wouldnt just sell for normal currency
Seriously? This is why:
https://www.theguardian.com/world/2015/jun/12/zimbabwe-offers-new-exchange-rate-1-for-35000000000000000-old-dollars
There is no trust for the Zimbabwe "normal" currency.
With bitcoin they don't need to have a lot of fiat , bringing lot of them to the market, seriously?? with $100 trillion in Zimbabwe you don't even buy a candy bar. Bitcoin might not help economic situation out there at least they don't have to bringing lot of cash if they want to buy something however it constrained by lack of adoption of the bitcoin out there.
I like to read such good news. It's good to see that Bitcoin is spreading through the world, even in less developed country. Bitcoin could realy be one of the means to help to the people and countries in Africa and elsewhere. Who says that new high level technologies couldn't be used in the whole world for any purpose.
It's pretty amazing to see how far bitcoin has come and this move is going to help that man in finding money for his living with that corrupt government. More people in poor and corrupt countries should follow his example.
When bitcoin meet Zimbawe , it's gonna be a good help for them especially when their economy fundamental are really weak
With this event, bitcoin become 1 more step ahead becoming world wide known currency and the only one internet currency that ever exist
With this event, bitcoin become 1 more step ahead becoming world wide known currency and the only one internet currency that ever exist
haha this was pretty funny.
but i think the real question is if this is a Joke and if he is going to be successful in selling his cattle in the end?!!!
because to be honest i don't see any farmer in a third world country be using bitcoin and wanting to spend it on a cattle!
but i think the real question is if this is a Joke and if he is going to be successful in selling his cattle in the end?!!!
because to be honest i don't see any farmer in a third world country be using bitcoin and wanting to spend it on a cattle!
Well there is always a possibility that there is at least a few of them. FYI, technology is not limited to those who are in front of the computer. Even if his job is a farmer, there is a possibility that he can be more advance/ updated in technology than us. And besides Bitcoin is a currency and cattle is considered as goods, so i don't find anything wrong if some person wanted to buy a cattle with bitcoin.
I think the guy have sold for the value and the stability in bitcoin. You need to remember this country has hyperinflation with the fiat currency. You can do a search on google and type one hundred's trillion dollar zimbabwe currency and you will see for yourself.
That's a step forward in the growth of bitcoin as well a positive response in a country where the currency has lost its value. Now in this worse financial situation if bitcoin is accepted as their countries own country, then can expect good growth in bitcoin as well in the country's economics situation.
haha this was pretty funny.
but i think the real question is if this is a Joke and if he is going to be successful in selling his cattle in the end?!!!
because to be honest i don't see any farmer in a third world country be using bitcoin and wanting to spend it on a cattle!
but i think the real question is if this is a Joke and if he is going to be successful in selling his cattle in the end?!!!
because to be honest i don't see any farmer in a third world country be using bitcoin and wanting to spend it on a cattle!
Well there is always a possibility that there is at least a few of them. FYI, technology is not limited to those who are in front of the computer. Even if his job is a farmer, there is a possibility that he can be more advance/ updated in technology than us. And besides Bitcoin is a currency and cattle is considered as goods, so i don't find anything wrong if some person wanted to buy a cattle with bitcoin.
This is one of the unusual way to get a bitcoin.
This one should be on the news now. I mean really now.
This one should be on the news now. I mean really now.
Considering the current state of affairs in Zimbabwe, I should warn this guy against giving any sort of publicity for the sale. Considering the string of asset forfeitures going on in Zimbabwe, I wouldn't be much surprised if the government try to seize his coins.
That's actually a pretty good idea, but Im not sure why he wouldnt just sell for normal currency
Seriously? This is why:
https://www.theguardian.com/world/2015/jun/12/zimbabwe-offers-new-exchange-rate-1-for-35000000000000000-old-dollars
There is no trust for the Zimbabwe "normal" currency.
You know.. that's a smart guy. His Fiat in his country probably sucks. If i was him i would have done the same thing. I mean you can buy anything with bitcoin these days or sell for cash no problem. To sell cows for bitcoin just shows how the world is changing and bitcoin is the future in currency or is already here.
Crowdfunding to help develop Africans bitcoin infrastructure is such an excelent idea. The africa has the resources and people. They just dont have the money because their currencies are close to useless. All of their money goes to pay enourmous debt. If only they would use the money that government dont use to pay debts it would mean a second chance to Africa.
Bitcoin fighting world hunger. You know how powerful the campaign could be?
Bitcoin fighting world hunger. You know how powerful the campaign could be?
I interviewed this man today in Zimbabwe:
https://steemit.com/bitcoin/@bitcoinmeister/this-man-sells-his-cattle-for-bitcoin-in-zimbabwe-a-blockchain-summer-school-harare-interview
His contact information is at the link provided.
https://steemit.com/bitcoin/@bitcoinmeister/this-man-sells-his-cattle-for-bitcoin-in-zimbabwe-a-blockchain-summer-school-harare-interview
His contact information is at the link provided.
Nice informative and engaging steemit post.
Bitcoin as we all know it is a good store of value because of its disinflationary model, and it is already showing across the world. It is also so convenient and so useful to the unbanked populations across the world.
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