Topic: Zimbabwe minister urges citizens to embrace Bitcoin - page 4. (Read 416 times)
If I read this article it shows that the government there accepts bitcoin as a currency, thus the correlation between the government and Giving Zimbabweans access to a safe and secure service for transferring funds. This makes Zimbabwe the first country to officially allow Bitcoin to run and in the end, Zimbabwe's Bitcoin regulations can serve as an example for other African countries to embrace cryptocurrency.
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Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.
There is a great opportunity for this country to develop in the future, if bitcoin starts to be discussed and becomes the attention of the government in its future progress, but there are many weaknesses that will be faced if only bitcoin is given access to make legal investments, considering the price of bitcoin is difficult to reach by the people. ordinary, but at least this country is preparing a good step in the future for its people.
Basically a country has to think about the development of ever-increasing flows, with the support of existing tools or resources, standard rules must be issued to ensure the survival of bitcoin or cryptocurrency in general, otherwise this will not have a major impact on all its citizens, many things are can benefit from approval of permits to manage bitcoin or other coins, as long as the rules are made not burdensome, both the cryptocurrency itself and the country that is starting to open up space for crypto.
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.What's the point of that? If there is a devaluation and hyperinflation of the national currency, how can bitcoin help? Wouldn't it be better for the citizens of such a country to exchange their money for a dollar, British pound, or euro? It is very doubtful that they will be able to freely buy bitcoin for the national currency. They will do a double exchange. Why do they need it?
Bitcoin will not be able to help the results of the devaluation and hyperinflation of fiat currency, but bitcoin can be a solution when conditions for fiat money do not run normally, but if there are no special rules governing the function of money specifically, it will be the same between bitcoin and fiat currency , even today the safest investment is gold, which actually has no impact on paper money or other money.
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.What's the point of that? If there is a devaluation and hyperinflation of the national currency, how can bitcoin help? Wouldn't it be better for the citizens of such a country to exchange their money for a dollar, British pound, or euro? It is very doubtful that they will be able to freely buy bitcoin for the national currency. They will do a double exchange. Why do they need it?
It's just about urging and encouragement and I think there's nothing wrong with it. Although their country is also dealing with other important matters.
Just like the people in Venezuela that are surviving because of bitcoin or with crypto in general, this should also be a big help to them when their citizens become knowledgeable about it as an investment and if they learn how to effectively trade it.
Zimbabwe is in struggle to save their economy from its high inflation that has even increased this time. And maybe just like El Salvador who find bitcoin a solution to their problem, then probably it will not be surprising anymore if Zimbabwe will be the newest country to adopt bitcoin as a legal tender. The Prime Minister has been a pro crypto ever since so if he takes this chance to encourage citizens to accept and adopt crypto, then in less than a year or two, its country's economy will definitely recover. Just like the people in Venezuela that are surviving because of bitcoin or with crypto in general, this should also be a big help to them when their citizens become knowledgeable about it as an investment and if they learn how to effectively trade it.
It's just about urging and encouragement and I think there's nothing wrong with it. Although their country is also dealing with other important matters.
Just like the people in Venezuela that are surviving because of bitcoin or with crypto in general, this should also be a big help to them when their citizens become knowledgeable about it as an investment and if they learn how to effectively trade it.
Just like the people in Venezuela that are surviving because of bitcoin or with crypto in general, this should also be a big help to them when their citizens become knowledgeable about it as an investment and if they learn how to effectively trade it.
If he really has the vision to help their country to improve and address poverty, then he should act accordingly and help them. Maybe embracing crypto is not the solution to this situation but I think this could contribute some and that fees deduction using crypto/Bitcoin is a big help for them. The implementation will be hard if that is also supported by the community.
However, with the situation where internet connection did not cover the entire country, that something will face a huge problem and that possible many couldn't still enjoy the benefit it gives to them.
However, with the situation where internet connection did not cover the entire country, that something will face a huge problem and that possible many couldn't still enjoy the benefit it gives to them.
You'd think clean water, sanitation, a secure food supply and an end to conflicts along ethnic and geopolitical lines would be more important than expecting the populous to arm themselves with a stable internet connection for their cell phones to make crypto transactions would be a thing...
...but apparently it isn't.
...but apparently it isn't.
Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.
Wondering what will be the effect of this t the crypto market as Zimbabwe is one of the most corrupt country in the world. and also what is the objective of their Minister in embracing bitcoin since we knew how politicians hates crypto for their own benefits .The zimbabwe people's population is around 15 mils. but the internet coverage is only about 5 mils people which means only 1/3 of their citizens (source: google).
1/3 have access to the internet so what will be the reason for this acceptance if happen?or maybe they are trying to embrace and adopt for the future.
Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.
There is a great opportunity for this country to develop in the future, if bitcoin starts to be discussed and becomes the attention of the government in its future progress, but there are many weaknesses that will be faced if only bitcoin is given access to make legal investments, considering the price of bitcoin is difficult to reach by the people. ordinary, but at least this country is preparing a good step in the future for its people.
Countries that use the currency from some other nation as their legal tender should immediately consider granting the same status to Bitcoin. Because when a country like Zimbabwe is using a foreign currency like the US Dollar, it is actually benefitting the US government. If they use the South African Rand, then in the end it will benefit the South African government. So why can't they use Bitcoin instead? If there are any benefits, it will be distributed among the Zimbabweans themselves (rather than the foreign governments).
Bitcoin can play a vital role to help resuscitate economies with very weak currency. By embracing Bitcoin, the economy will have a yardstick on which to measure its currency and could help strengthen it.
The government have to understand the benefits and the risks associated with adopting Bitcoin which includes:
(1) Price Fluctuation. In the short term the price of Bitcoin may not be easy to manage because of its volatility, but on the long term, with the fixed number of Bitcoin, the value of Bitcoin will be rising, thereby making Bitcoin holders richer as it is not influenced by external government.
(2) Crypto currency knowledge. The main problems countries like Zimbabwe will have is adoption. How many of the citizens have access to internet and how many of the citizens know how to buy and sell crypto? The knowledge of crypto currency by the masses is key to the adoption. If the Government is serious, they can commence mass training of its citizens on how to buy/sell Bitcoin and generally cryptocurrency.
The government have to understand the benefits and the risks associated with adopting Bitcoin which includes:
(1) Price Fluctuation. In the short term the price of Bitcoin may not be easy to manage because of its volatility, but on the long term, with the fixed number of Bitcoin, the value of Bitcoin will be rising, thereby making Bitcoin holders richer as it is not influenced by external government.
(2) Crypto currency knowledge. The main problems countries like Zimbabwe will have is adoption. How many of the citizens have access to internet and how many of the citizens know how to buy and sell crypto? The knowledge of crypto currency by the masses is key to the adoption. If the Government is serious, they can commence mass training of its citizens on how to buy/sell Bitcoin and generally cryptocurrency.
The zimbabwe people's population is around 15 mils. but the internet coverage is only about 5 mils people which means only 1/3 of their citizens (source: google).
As we know connection to the internet is the most important part if we want to explore about cryptocurrency because there are a lot crypto transaction running through the internet. So i think if their goverment are embracing their people to bitcoin, they have to make sure they are providing a good speed and bigger coverage of internet and technology in their country first.
As we know connection to the internet is the most important part if we want to explore about cryptocurrency because there are a lot crypto transaction running through the internet. So i think if their goverment are embracing their people to bitcoin, they have to make sure they are providing a good speed and bigger coverage of internet and technology in their country first.
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Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.
There is a great opportunity for this country to develop in the future, if bitcoin starts to be discussed and becomes the attention of the government in its future progress, but there are many weaknesses that will be faced if only bitcoin is given access to make legal investments, considering the price of bitcoin is difficult to reach by the people. ordinary, but at least this country is preparing a good step in the future for its people.
Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.
The steps they take to prepare themselves to live an increasingly advanced life in the cryptocurrency field, but need supervision from various parties from the country, if bitcoin is starting to be given space for people to invest, considering that not many people can invest in bitcoin, with price considerations buy which is very expensive and difficult to achieve.
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.
I also have the same thought like that. although many countries are trying to reject bitcoin, but I strongly believe that bitcoin can reduce poverty and unemployment there. I think the minister from Zimbabwe has done the right thing. there have been so many examples of people who have re-opened businesses because of using bitcoin, I'm pretty sure this is the solution to the economic problems there. After El Salvador, it would be better if Zimbabwe started embracing bitcoin. Furthermore, it is only necessary to provide education about crypto there, and also how to get and use it. ...
If there are countries in Africa that can take that bold step it will not be Zimbabwe. May be South Africa or Nigeria.
I agree in most part. Zimbabwe still lacks the literacy on blockchain and crypto compared to the two countries you said. Nigeria has a lot of P2P transactions but their Government and central bank is still hostile. South Africa is the best bet since they are the most crypto friendly in all of Africa. If there are countries in Africa that can take that bold step it will not be Zimbabwe. May be South Africa or Nigeria.
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.
This is good news to the spread of Bitcoin and its awareness but I do not believe Zimbabwe will be brave enough to adopt the El Salvador method of going all in. Africa is a continent that fears to take up new challenges and Bitcoin is a new challenge. Adopting Bitcoin completely is not what I think they can do. If there are countries in Africa that can take that bold step it will not be Zimbabwe. May be South Africa or Nigeria.
Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.
I think that's the best option for Zimbabwe to try because their currency is heavily devalued and because of that reality Bitcoin will be the best option or one of the best alternatives to fight inflation if the people of Zimbabwe will use it as it was intended to be, Anyway I'm not familiar with the current Zimbabwe economic status that's why I'm just giving my opinion base on my limited knowledge about inflation.
Shouldn't be a surprise to anybody after the elsavador take on bitcoin It will likely begin to take effect on much more countries looking to sway away from the old economic system so that they can take advantage of the situation but still is kinda good new to crytpoland. I just hope those countries knows what they are doing
That's correct, El Salvador has become a model that a country could adopt on bitcoin without a problem. For poor countries, I think they should look at this possibility so they will not be anymore controlled by big countries, once they adopt bitcoin, there will be more open opportunity and certainly it will help them to improve their economy as long as their leader is capable of running a country and should be a pro-crypto as well.
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