This man sells his cattle for Bitcoin in Zimbabwe!

[DisruptMeister]

I interviewed this man today in Zimbabwe:

https://steemit.com/bitcoin/@bitcoinmeister/this-man-sells-his-cattle-for-bitcoin-in-zimbabwe-a-blockchain-summer-school-harare-interview

His contact information is at the link provided.

[WrT]

This is actually a good topic, enjoyed reading/watching it.
Interesting work you are doing, the farmer is nothing like what I would imagine zimbabwan farmer to look

keep it up, wish you luck!

[wheelz1200]

Crazy how far bitcoin has come, i wonder how big bitcoin is in zimbabwe for him to make any sales.  Interesting either way.  Thanks

[Przemax]

Finaly those africans are figuring out how to stay out of the debt system and banks. Maybe we should contact the guy somehow and make him some bitcoin enterpreneur to teach other africans to stay out of the shit the banks funded them.

In poland there is a proverb - One swallow doesnt make a spring. But maybe there will be more swallows there.

[myparentsdisownedme]

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

[xhomerx10]

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.

[BitcoinHodler]

haha this was pretty funny.
but i think the real question is if this is a Joke and if he is going to be successful in selling his cattle in the end?!!!

because to be honest i don't see any farmer in a third world country be using bitcoin and wanting to spend it on a cattle!

[Pitchblackroom]

Honestly it makes total sense that he would do that. They phased out their old currency due to hilarious levels of hyperinflation.
He probably could have some more mobility with Bitcoin though even though Dollar is the normally used currency there now.

[arara]

but what is the price?

[Xester]

Honestly it makes total sense that he would do that. They phased out their old currency due to hilarious levels of hyperinflation.
He probably could have some more mobility with Bitcoin though even though Dollar is the normally used currency there now.

This is really cool! This only means that other people wanted to earn bitcoins than dollars, this only means that dollars can be an international currency but not all people wants to earn dollar. Maybe this man saw the advantage of bitcoins and he wants to invest on bitcoins since its price was continously increasing. Its really amazing that digital currency now are getting more and more popular. I hope this will help the community to become more popular.

[tyz]

Crazy how far bitcoin has come, i wonder how big bitcoin is in zimbabwe for him to make any sales.  Interesting either way.  Thanks

I think that is the easiest and safest way for him. If he would sell it for Zimbave money, it would soon be worth nothing because of the immense infaltion. For other foreign currencies he would probably get problems. So Bitcoin is a good choice.

[bryant.coleman]

Yeah.. this guy is intelligent. Although the volatility in the Bitcoin exchange rates are well known, nothing can beat the instability of the Zimbabwean Dollar (I think now they have withdrawn the currency). That said, I don't know how he is going to spend his coins. Are there any shops in Zimbabwe which accepts Bitcoin? If there are none, then he may be forced to travel to South Africa to spend his coins.

[NorrisK]

I think this is a very smart move from this man. Especially when the trust in a currency is very low.

My only concern is that he may have very limited ways of spending the coins. I don't expect every store there to have a bitcoin checkout option for instance.

[fiscorcle]

I believe I read on some newsbtc site that Zimbabwe is in the forefront of making it easier for the public to access bitcoin to have it more readily available so this should not be such a surprise.
They sell goats in the mideast this way already as everybody has a cell phone and internet access via this method nowadays. And yes, even farmers!

[calkob]

Great job, these countries whose native currency is crap really will benefit from using bitcoin,  we need to get the word out.  There could also be a good charitable idea here, where people can send bitcoin to the farm to provide cattle to poor farmers, sorta like crowed funding. 

[mindrust]

I had to read it twice to fully understand it. Thought he was selling his castle.  

Smart move for the man, since their currency is simply worthless he can protect himself and can even maybe make some money out of this deal. (if he holds ofc)

[Doamader]

Well its a amazing feature if you ask me, being able to sell his cattle for bitcoin, and with that be able to save into bitcoin, this is the first person i do believe is doing such, i do hope to see this being applied at the countries where there is more bitcoiner then Zimbabwe.

[yayayo]

It's outstanding to see first signs of a local Bitcoin economy in African countries. Especially since it's in the primary economic sector. That's what we need to establish a closed-loop Bitcoin economy, where fiat money becomes entirely obsolete. With an established local Bitcoin marketplace, Bitcoin remittances can go native. Only this way Bitcoin can show its full potential and will be greatly superior than any other money transfer service.

A practical problem to local Bitcoin activity catching on in these countries may be the lack of Bitcoin supply. As there are no mining operations, few tourists and only very little international trade, inflow of Bitcoin will remain very limited and mostly rely on remittances. The huge premiums currently paid for BTC in India clearly exemplify this problem.

ya.ya.yo!

[Yakamoto]

That's an interesting choice, if anything, to be honest. I would expect that someone in a place like Zimbabwe is going to value their cattle or any means of making food or a living more than they would value Bitcoin.

Considering he has access to Bitcoin in the first place I would assume this guy has some status already.

[shinratensei_]

he can make a pool of money if try sells the castle for the common currencies.

I may think if the Bitcoin will become an excellent progress for those countries like Zimbabwe.