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Do you have any actual evidence of that? Sounds like an even more implausible scenario than the Venezuela one that turned out to be just endless hype.
by spiralx 9y ago
Do you have any actual evidence of that? Sounds like an even more implausible scenario than the Venezuela one that turned out to be just endless hype.
- davidgerard 9y agothis is typical of Bitcoin advocacy - arguments are abbreviated to dropping a few words that allude to the concept of an actual argument - a refutation by vague reference. Answering these is annoying, because it pretty much requires you to make their argument for them. In this case I think the thing he's alluding to is when bitcoins were "$13,000" in Zimbabwe but $9,000 elsewhere. What was happening was that this was the price in the local USD-substitute currency, which traded at a 40% discount to actual dollars: “This new currency was supposed to be fully convertible into U.S. dollars, a promise that has proven to be illusory. It has since slipped to a large discount to the dollar. So when Zimbabweans buy bitcoin for $13800 — they aren’t paying with U.S. dollars, they are paying with this new unit … In Zimbabwe, the market exchange rate is set unofficially, on street corners and such. Without an on-the-ground data gathering network to canvas street corners, an outside observer can get a decent proxy for the exchange rate by gathering bitcoin prices on the internet.” https://jpkoning.blogspot.co.uk/2017/11/zimbabwe-and-hyperbitcoinization.html https://jpkoning.blogspot.co.uk/2017/11/zimbabwe-and-hyperbi...
- arisAlexis 9y agoyou can check prices live and read articles about Zimbabwe and other countries