Zimbabwe banned the US dollar from being used so local bitcoin demand is soaring again

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Zimbabwe Banned The US Dollar From Being Used So Local Bitcoin Demand Is Soaring Again

Zimbabwe banned the US dollar from being used so local bitcoin demand is soaring again

Zimbabwe Banned The US Dollar From Being Used So Local Bitcoin Demand Is Soaring Again



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Zimbabwe Banned The US Dollar From Being Used So Local Bitcoin Demand Is Soaring Again

Zimbabwe Banned The US Dollar From Being Used So Local Bitcoin Demand Is Soaring Again
Zimbabwe Banned The US Dollar From Being Used So Local Bitcoin Demand Is Soaring Again
Zimbabwe Banned The US Dollar From Being Used So Local Bitcoin Demand Is Soaring Again

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Comment (11)

  1. These 4 quotes, in sequence, blow my mind… show this to any crypto skeptic:

    ​

    >”In Zimbabwe 2009 [banned settlement of local transactions]( https://www.fin24.com/Economy/zim-dollars-only-finance-minister-ncube-bans-foreign-currency-20190624) using the United States dollar, British pound, South African rand and other foreign currencies [forcing people to use the Zimbabwe dollar].”

    ​

    > The Reserve Bank of Zimbabwe [banned local banks from processing]( https://qz.com/africa/1278272/bitcoin-in-zimbabwe-has-been-banned-by-reserve-bank/) transactions involving bitcoin more than a year ago. However, the price of bitcoin in local currency has surged, according to the cryptocurrency’s pricing list for Zimbabwe on [localbitcoins.com]( http://www.localbitcoins.com/).

    ​

    >”Bitcoin traders are still processing a lot of transactions on a peer to peer basis.”
    >
    >“I don’t know of any crypto exchanges that have any significant volume here” says Kembo.

    ​

    >“What we are seeing is that there is a lot of demand for bitcoin,” … “And there is little supply compared to demand so all the activity in bitcoin which we are seeing is not happening on exchanges.

    ​

    **The on-ramps to Bitcoin are being squeezed by governments.**

    **This does not stop Bitcoin.**

    **Buy your ticket on the “bitcoin backup plan” while you still can.**

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  2. It feels like more and more countries are going to adopt Bitcoin which further legitimizes bitcoin…

    When people in huts in Africa know more about bitcoin than the general populace in Industrialized nations, makes me think bitcoin has a shit ton more head room to grow.

    I did a quick “survey” of 20 people at the poker table in a casino over the course of a few hours of play… Several professionals, a policeman, a teacher, some business owners, etc and only 1 guy (an IT guy) owned any bitcoin. About 70% of the table had a vague idea about bitcoin having heard about it on the news but the didn’t know what all the fuss was about… One guy had some “Crypto” and was proud of it, but it was a shitcoin I’d never heard of and he didn’t know anything about bitcoin and that all crypto was more or less the same so he figured he’d buy the cheapest one…

    So yeah, feels like bitcoin has an EASY 10x growth left in the next couple of years without even breaking a sweat.

    The time to worry about bitcoin not having more room to grow is when the idiots around you know about bitcoin… And even then, bitcoin just slows down and becomes more like gold… Imho, we have an easy 5 more years of insane growth, so much headroom. Feels like the equivalent of planting a weed in the middle of a pristine field of flowers… so much room to grow and dominate… they will never see it coming… Hell, we are screaming about it and still the sheeple can’t see it coming…

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  3. Those stupid politicians think they can curb inflation by setting up capital controls (e.g. not allowed to use anything but the official shite fiat).

    It’s the poorest people who get wrecked by it, more wealthy have other options. Sad.

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  4. There are more hit living, electricity starved. Internet starved people over there with more Blockchain Decentralized currency knowledge than in all of the USA, UK, Russia, India, etc…

    Crazy

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Zimbabwe banned the US dollar from being used so local bitcoin demand is soaring again

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