Zimbabwe minister urges citizens to embrace Bitcoin - page 2.

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Quote from: Gases on September 16, 2021, 03:50:02 AM

Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.

Looks like Zimbabwe is influenced by El Salvador declaring Bitcoin as a legal tender, and I think they are potentially going to follow suit as well like Paraguay. However, I am not sure if they are also going to make Bitcoin as a legal tender, or they are just simply embracing Bitcoin that’s all.

If it’s one way that would improve the country’s economy, then they should be going for it. I’m happy for them for being pro-Bitcoin.

macson

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why didn't zimbabwe just adopt bitcoin like el salvador? is their bureaucracy there complicated?

Quote from: DeathAngel on September 16, 2021, 05:21:56 AM

Many countries struggle with poverty, a quickly devaluing national currency & crime. Bitcoin will save them & make them prosperous, thriving countries. So many of the bad things in the world will be saved by adopting bitcoin. Bitcoin = No War.

bitcoin is the unifier of the world, poor countries will be free from difficulties if they adopt bitcoin.

Quote from: coin-investor on September 24, 2021, 06:30:25 PM

Quote from: Gases on September 16, 2021, 03:50:02 AM

Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.

It's really good if you have a prime minister or top officials who understand Cryptocurrency, blockchain and decentralization because this is the future, and they have a good edge over countries that do not adopt, they do not understand the good things brought by Cryptocurrency, one of which is cutting the cost of remittances, they spend up to $90 million in remittance fees, it's a huge saving if they are going to use Cryptocurrency instead.

That's right, by transferring via cryptocurrency, the costs incurred so far can be greatly reduced.

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Quote from: coin-investor on September 24, 2021, 06:30:25 PM

Quote from: Gases on September 16, 2021, 03:50:02 AM

Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.

It's really good if you have a prime minister or top officials who understand Cryptocurrency, blockchain and decentralization because this is the future, and they have a good edge over countries that do not adopt, they do not understand the good things brought by Cryptocurrency, one of which is cutting the cost of remittances, they spend up to $90 million in remittance fees, it's a huge saving if they are going to use Cryptocurrency instead.

A huge number to save, they can use it to on projects to improve their country, so legalizing bitcoin could really help. It's not really a risk to regulate bitcoin as long as they have a set of laws that would make sure that the exchanges are regulated and monitored to comply with the standard monetary policies, especially on the anti-money laundering law.

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Quote from: Gases on September 16, 2021, 03:50:02 AM

Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.

Of course, the policies of state leaders must be supported by staff who directly carry out work so that it can run as the government might want. because changing habits quickly requires the cooperation and hard work of all parties.

Quote from: coin-investor on September 24, 2021, 06:30:25 PM

It's really good if you have a prime minister or top officials who understand Cryptocurrency, blockchain and decentralization because this is the future, and they have a good edge over countries that do not adopt, they do not understand the good things brought by Cryptocurrency, one of which is cutting the cost of remittances, they spend up to $90 million in remittance fees, it's a huge saving if they are going to use Cryptocurrency instead.

agree, but it is necessary to know and understand crypto but even better it is assisted by special staff who are already experienced in crypto so that what is done can fulfill what is the goal. agree that using crypto definitely cuts down on all the usual costs conventionally to more advanced things. the impact is also more pronounced because of the savings in time and costs that can be reduced, obviously this will be profitable in the long run.

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Quote from: Gases on September 16, 2021, 03:50:02 AM

Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.

It's really good if you have a prime minister or top officials who understand Cryptocurrency, blockchain and decentralization because this is the future, and they have a good edge over countries that do not adopt, they do not understand the good things brought by Cryptocurrency, one of which is cutting the cost of remittances, they spend up to $90 million in remittance fees, it's a huge saving if they are going to use Cryptocurrency instead.

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Quote from: gabbie2010 on September 16, 2021, 07:33:33 AM

Quote from: rosenbauer02 on September 16, 2021, 05:18:59 AM

Aren't gonna say your opinion?. I haven't read the article but I think they would also like to embrace bitcoin just like in El Salvador where bitcoin is now a legal tender and people and businesses can now accept bitcoin as one of their payment method. Embracing bitcoin could also help their country in my opinion.

The minister is imploring Zimbabwean to embrace Bitcoin especially when remitting funds from abroad because of low cost and swiftness of transaction which I believe is a good advice, already there is hyper inflation in Zimbabwe thus there is the need for the citizens to adopt Bitcoin to cushion the effect of using worthless Zimbabwean dollar or they should follow El Salvador adoption of Bitcoin to help their citizens especially low income earners, thus it is up to their government to take a drastic step now.

It is such a shame that this is happening once again at Zimbabwe, they had already went through hyperinflation and this was solved at the time by adopting other fiat currencies and letting go of their own currency, but then the government wanted to once again have the monopoly to print as much money as they wanted and guess what? They got exactly the same results as they did before.

And now people are desperate once again because the money that they have in their pockets is losing value at an amazing speed and they have to find a way to protect themselves, and it seems that bitcoin is going to be the best choice to do that because anyone that chooses to use a fiat currency during the next decade is probably going to be burned as well, because there is a real chance now that the system will collapse during that time.

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Quote from: Vaculin on September 24, 2021, 08:54:41 AM

Quote from: Gases on September 16, 2021, 03:50:02 AM

Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.

And guess what? This will just be for words as this is impossible to happen in real life.
I say this because it was really hard to make it to this place. Zimbabwe is one of the poorest countries in the world and a lot of issues need for them to address more prior to urging people to embrace Bitcoin.

With that state of life and the people who are living there, I can't imagine how they could understand this nor they will think of this as an opportunity. I simply draw a conclusion and I say that it was not the time for this stuff. They should have to improve their status first prior to this adoption.

It wouldn't be easy but if they have a good government, maybe the government could help to educate people with a high poverty rate. Nothing is impossible dude, hopefully, the poorest countries will learn how to innovate and adapt with bitcoin as it's their chance to improve their country, but as I said, they need to have a good government first.

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Quote from: Gases on September 16, 2021, 03:50:02 AM

Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.

And guess what? This will just be for words as this is impossible to happen in real life.
I say this because it was really hard to make it to this place. Zimbabwe is one of the poorest countries in the world and a lot of issues need for them to address more prior to urging people to embrace Bitcoin.

With that state of life and the people who are living there, I can't imagine how they could understand this nor they will think of this as an opportunity. I simply draw a conclusion and I say that it was not the time for this stuff. They should have to improve their status first prior to this adoption.

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Quote from: Gases on September 16, 2021, 03:50:02 AM

Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.

This is the type of positive news the crypto community should always receive, I like this minister because he can already sense crypto will be beneficial for the citizens of Zimbabwe, am sure in near future they won't have any problem legalising it, China should learn from this instead of creating fake ban news all the time.

Bikan

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There is NO crime associated with countries adopting other currencies, particularly those in emerging and underdeveloped economies, but because the value benefits citizens, why not invest in bitcoin so that people gain immensely from this currency? Countries may embrace bitcoin without difficulty.

It also should be mentioned that governments who utilize the money of another country as their medium of exchange should explore granting Bitcoin the same status. So why can't they just use Bitcoin? If any benefits are available, they will be dispersed among Zimbabweans rather than foreigners.

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Quote from: Gases on September 16, 2021, 03:50:02 AM

Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.

Interesting article. I wonder if the country still has problems with the massive inflation I read about it in the past... If it does, then citizens reasons for resorting to Bitcoin is a good one. But I hope it's used in a way they protects and helps their national currency.

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The president should be telling citizens to embrace DeFi like Celo Ubeswap or NEAR Ref Finance. You don't get APY with Bitcoin, it just sits there and you have to hope someone else buys it for a higher price. You can farm on Celo and NEAR and earn a high APY.

usaha jaya

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Indeed It should have been so for poor and developing countries to move forward, once elsavador took bitcoin It's likely to come into effect in more countries who want to move away from the old economic system so that they can take advantage of the situation, Bitcoin will save them and make them prosper.

rika0223

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Zimbabwe is an economic downturn that has long been caused by economic colonization by an enemy country, so the government has taken the initiative to develop or urge citizens to accept Bitcoin as an alternative way to revive its economy back to its heyday, and that is also a sign that crypto currency is also good for growth. Economic growth with the permission of the government also helps in developing crypto technology

MaiQwaN

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Quote from: Gases on September 16, 2021, 03:50:02 AM

Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.

For many years, the population of all countries of the African continent has been using cryptocurrencies for internal and external transfers, as well as a store of value and accumulation due to the weakness of their own national currencies.

BAGOBO

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Zimbabwe still seems late to regulate the legalization of bitcoin because of the lowest currency conditions due to very high hyperinflation, at first I thought that Zimbabwe would be the main country to legalize bitcoin as a legal currency but until now there has been no decision that leads to alternative bitcoin as legal currency.

bitcon

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We see one more country with a low level of life. We see that it is common to countries that are not sure about their native currencies to adopt Bitcoin as a means of payment. The Zimbabwean dollar is prone to hyperinflation, so there is nothing surprising that they are looking for alternatives. I am glad to see this.

I really believe in Bitcoin and hope that it will be accepted in many countries and companies. Cool

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I would have referred to Zimbabweans as having adopted bitcoin as their base currency rather than implying bitcoin was ever illegal and suddenly it's become a legitimate commodity in that it has been legalised (in the same way soft drug use is legalised in some countries after being illegal for decades).

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Quote from: DeathAngel on September 16, 2021, 05:21:56 AM

Many countries struggle with poverty, a quickly devaluing national currency & crime. Bitcoin will save them & make them prosperous, thriving countries. So many of the bad things in the world will be saved by adopting bitcoin. Bitcoin = No War.

The legalization of bitcoin will really help the citizens of Zimbabwe to save their savings, since inflation in the country has already reached 1000%. But this will not help the government, but on the contrary, it may reduce the income coming from financial institutions that previously replenished the country's budget.

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Quote from: Gases on September 16, 2021, 03:50:02 AM

Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.

We often hear that Zimbabwe's economic condition is very bad at the moment. The steps taken by the Minister of Zimbabwe to invite citizens to accept payments with cryptocurrencies I think are appropriate to reduce the burden on their people.

Topic: Zimbabwe minister urges citizens to embrace Bitcoin - page 2. (Read 416 times)