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Title: How is dying 'Rand' going to affect Bitcoin? Post by: BTCIndia on January 26, 2014, 09:16:24 AM South African currency "Rand" continues to plummet due to balance of trade deficit, poor economic data globally and a mining sector hit particularly hard by weak global resource markets. How it is going to affect Bitcoin prices? We already have group of tech savvy entrepreneurs active in South Africa like Swicthless backed by FireID, Ice3X etc.. Is it going to boost Bitcoin price like Cyprus?
Title: Re: How is dying 'Rand' going to affect Bitcoin? Post by: HairyMaclairy on January 26, 2014, 09:27:59 AM Maybe. So far falling currencies have not really affected bitcoin.
Cyprus was a banking crisis so it was different. A banking crisis is much more likely to become a first world problem. Title: Re: How is dying 'Rand' going to affect Bitcoin? Post by: zimmah on January 26, 2014, 09:44:44 AM maybe we should start bitcoin education programs in countries with failing currencies. Let them know there is a way out of poverty.
Countries in trouble (weak currecny/civil unrest, etc.) right now which could/should massively adopt bitcoin:
more? Title: Re: How is dying 'Rand' going to affect Bitcoin? Post by: Peter R on January 26, 2014, 09:59:21 AM I thought Ayn Rand had already passed away?
Too much wine.... Title: Re: How is dying 'Rand' going to affect Bitcoin? Post by: BTCIndia on January 26, 2014, 10:02:16 AM maybe we should start bitcoin education programs in countries with failing currencies. Let them know there is a way out of poverty. Countries in trouble right now which could/should massively adopt bitcoin:
more? Fragile Five- Indonesia, Brazil, Turkey, India and South Africa. Head news that economist from some western country sought interest in Bitcoin. Fed up of buying crude oil in USD. Now, I'd love to buy oil with Bitcoin. Title: Re: How is dying 'Rand' going to affect Bitcoin? Post by: CrackedLogic on January 26, 2014, 10:11:22 AM maybe we should start bitcoin education programs in countries with failing currencies. Let them know there is a way out of poverty. Countries in trouble right now which could/should massively adopt bitcoin:
more? Fragile Five- Indonesia, Brazil, Turkey, India and South Africa. Head news that economist from some western country sought interest in Bitcoin. Fed up of buying crude oil in USD. Now, I'd love to buy oil with Bitcoin. I'm from south africa, our currency may be falling but we average people aren't in major poverty, I adopted bitcoin for side cash. Title: Re: How is dying 'Rand' going to affect Bitcoin? Post by: zimmah on January 26, 2014, 12:31:50 PM maybe we should start bitcoin education programs in countries with failing currencies. Let them know there is a way out of poverty. Countries in trouble right now which could/should massively adopt bitcoin:
more? Fragile Five- Indonesia, Brazil, Turkey, India and South Africa. Head news that economist from some western country sought interest in Bitcoin. Fed up of buying crude oil in USD. Now, I'd love to buy oil with Bitcoin. I'm from south africa, our currency may be falling but we average people aren't in major poverty, I adopted bitcoin for side cash. with a currency that decreases 10% in value each month, within a year you'll have less then 25% of what you had a year ago. Title: Re: How is dying 'Rand' going to affect Bitcoin? Post by: Sutters Mill on January 26, 2014, 12:51:01 PM Either way, it can't be BAD for bitcoin. We need more business to start accepting it there before it can become an alternative to Rand. Bitcoin could be a good savings option though if the value of Rand keeps decreasing.
Title: Re: How is dying 'Rand' going to affect Bitcoin? Post by: 5thStreetResearch on January 26, 2014, 01:46:25 PM Either way, it can't be BAD for bitcoin. We need more business to start accepting it there before it can become an alternative to Rand. Bitcoin could be a good savings option though if the value of Rand keeps decreasing. ^^^^this Title: Re: How is dying 'Rand' going to affect Bitcoin? Post by: jonanon on January 26, 2014, 02:44:29 PM I wouldn't have thought it would have any real type of impact on Bitcoin ;)
Title: Re: How is dying 'Rand' going to affect Bitcoin? Post by: Phinnaeus Gage on January 26, 2014, 05:05:50 PM Only came to this thread because I thought http://en.wikipedia.org/wiki/Rand_Paul
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