This man sells his cattle for Bitcoin in Zimbabwe!

[Tyrantt]

It's pretty amazing to see how far bitcoin has come and this move is going to help that man in finding money for his living with that corrupt government. More people in poor and corrupt countries should follow his example.

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[bitbunnny]

I like to read such good news. It's good to see that Bitcoin is spreading through the world, even in less developed country. Bitcoin could realy be one of the means to help to the people and countries in Africa and elsewhere. Who says that new high level technologies couldn't be used in the whole world for any purpose.

[btccashacc]

That's actually a pretty good idea, but Im not sure why he wouldnt just sell for normal currency

 Seriously?  This is why:

https://www.theguardian.com/world/2015/jun/12/zimbabwe-offers-new-exchange-rate-1-for-35000000000000000-old-dollars

 There is no trust for the Zimbabwe "normal" currency.

Damn, $1 equals 35,000,000,000,000,000 Zimbabwe dollars.
With bitcoin they don't need to have a lot of fiat , bringing lot of them to the market, seriously?? with $100 trillion in Zimbabwe you don't even buy a candy bar. Bitcoin might not help economic situation out there at least they don't have to bringing lot of cash if they want to buy something however it constrained by lack of adoption of the bitcoin out there.

[eternalgloom]

It's pretty amazing to see how far bitcoin has come and this move is going to help that man in finding money for his living with that corrupt government. More people in poor and corrupt countries should follow his example.

People will follow him in those kind of countries.
In the beginning of the video, he says that there are a lot of problems people are facing when using Western Union and regular bank transfers.

Once word gets out that Bitcoin is an easier means of transferring money, a lot of people will use that over other services like Western Union when the word gets out.
A lot of people send money back to their families, so it's a whole new market.

[kanazawa]

It could be a "good" news, but who wants to live in Zimbabwe? I mean, the country has a lot of problems (I was in other side of Africa and situation is very "strange", it's the only thing i can tell) and I think that be the owner of a bunch of cattle is not "so good as it seems" (if it seems...), be a merchant witha very fckd up currency could be a barrier to do everything linked with economy... I prefer a fcked life where I am living now. But taking this idea off (about the country itself), the attitude is pretty noble. But, however, all I know about Zimbabwe is the extreme inflation rates and people using very colorful clothes.

[Hazir]

That's actually a pretty good idea, but Im not sure why he wouldnt just sell for normal currency

 Seriously?  This is why:

https://www.theguardian.com/world/2015/jun/12/zimbabwe-offers-new-exchange-rate-1-for-35000000000000000-old-dollars

 There is no trust for the Zimbabwe "normal" currency.

Damn, $1 equals 35,000,000,000,000,000 Zimbabwe dollars.
With bitcoin they don't need to have a lot of fiat , bringing lot of them to the market, seriously?? with $100 trillion in Zimbabwe you don't even buy a candy bar. Bitcoin might not help economic situation out there at least they don't have to bringing lot of cash if they want to buy something however it constrained by lack of adoption of the bitcoin out there.

They have crazy inflation and their unstable economy won't help them achieve better FIAT status any time soon. But I don't think Bitcoin could cure for their problems.
It is still too soon to use Bitcoin as FIAT replacement in everyday life - and certainly not in poorly developed country like Zimbabwe.
As far as I know Zimbabwe is currently using US Dollars as their currency. I still think it is better option than BTC, at least for now.

[Shiroslullaby]

Yes unfortunately the paper money in Zimbabwe is basically worthless.
Most people, especially those in rural areas, are not going to have access to computers/ internet, so Bitcoin won't be an option for them.
One day it may be a possibility, but the idea of BTC being something that can help people in these situations is a long way off.

[staff_1307]

I think that this is a thoughtless and foolish, because a person can lose everything.

[piloder]

Livestock market is really big in any countries and use of bitcoin in this unique field can boom the demand of bitcoin. Trading livestock for bitcoin in one way may help those farmers to know about bitcoin along with they may find it interesting if they can book some profit by just holding those bitcoins.

[xdrpx]

That's a brilliant use of Bitcoin for cattle owners and farmers. Zimbabwe's economic crisis and their currency devaluation (their currency is almost in millions of currency notes and almost worth very very less) can foster Bitcoin usage for even the poor and boost remittances. I hope the Bitcoin exchange that they were talking about in the video does get setup in Zimbabwe, this would save a lot of time for the locals to purchase Bitcoin and make use of it.

[dothebeats]

Definitely a nice move and a start of innovation! If Zimbabwean folks start the adoption on using bitcoin as one of the accepted medium of payment, then other people too in the world would soon realize the advantages of using bitcoin as a payment medium and it's potential investment capabilities. Good job, dude! Hope that most people follow suit.

[Juggy777]

This is really interesting article and it's thoughtful of sharing it with us. Considering Zimbabwe currency it's easy to understand why he did it and it's a good move. This is a example and it could inspire others way to go.

[crairezx20]

Amazing that someone can sells cattle for bitcoin this is new generation and advantage of technology.. and i think this is not new because before i heard that someone are offering here like pizza for bitcoin.. and it s amazing who are receive many bitcoins before i think he is rich by now..
The adoption of bitcoin right now is growing.. and more people right now are knows about bitcoin.

[Ayers]

this is like barter all over again, so no surprise seeing it in a country where the poverty is everywhere, their fiat currency is not valuable at all it's trash so it's more wise to acquire bitcoin there, and i'm expecting this for all the other poor country as well

[requester]

Wow such person are using bitcoin and here in my country even educated and highly experienced computer teacher also don't know about bitcoin shame on my countries citizen. When would you grow up old man.

[BitFinnese]

Wow such person are using bitcoin and here in my country even educated and highly experienced computer teacher also don't know about bitcoin shame on my countries citizen. When would you grow up old man.

LOl old man never grow up but I'm sure they can learn.

This is really interesting article and it's thoughtful of sharing it with us. Considering Zimbabwe currency it's easy to understand why he did it and it's a good move. This is a example and it could inspire others way to go.

Honestly, I was shocked when i known about the current  price of dollar in their local currency.  Though I agree with the one who commented that dollar is better be used than bitcoin, but i think  it is always better if they can try to use other currency such as bitcoin so they will know the difference.

Yes unfortunately the paper money in Zimbabwe is basically worthless.
Most people, especially those in rural areas, are not going to have access to computers/ internet, so Bitcoin won't be an option for them.
One day it may be a possibility, but the idea of BTC being something that can help people in these situations is a long way off.

This is the main concern for bitcoin adoption in Zimbabwe.  There maybe a few thousands that can afford computers, but majority that of those that actually need help and support for their living will have a small chance to get benefits from bitcoin due to their limited resources.

[kryptqnick]

This man selling cattle can mean two things. If he is a typical farmer it means that our world is getting stabolizes, so people believe in science and abstract things, because it is really stupid to sell something real and usefit for ideal and doubtful in crisis. If he isn't then it is just him being crazy when other people are a lot more careful.

[LilibethSantos]

Perhaps we should make an effort towards marketing Bitcoin towards Zimbabwe. Considering their currency is pretty much toilet paper, their people may be very open to the idea of wealth preservation and free trade. I think is harder for first world countries to adopt Bitcoin because we are accustomed to having relatively stable currencies.

[bryant.coleman]

Considering their currency is pretty much toilet paper, their people may be very open to the idea of wealth preservation and free trade.

They don't have a national currency now. The Zimbabwean Dollar was withdrawn in April 2009. Now they are using a large number of foreign currencies instead (mostly the South African Rand and the United States Dollar, but also Botswana Pula, GBP, Indian Rupee, Euro, Japanese Yen, and the Australian Dollar). If we push hard.... then Bitcoin can become the national currency of Zimbabwe. 

[bluefirecorp]

i think its good deal that he want to sell his cattle for bitcoin and i think we can use bitcoin with easily and if someone send bitcoin to this person if someone is same country of this cattleman then its possible.