Zimbabwe minister urges citizens to embrace Bitcoin

[Questat]

If he really has the vision to help their country to improve and address poverty, then he should act accordingly and help them. Maybe embracing crypto is not the solution to this situation but I think this could contribute some and that fees deduction using crypto/Bitcoin is a big help for them. The implementation will be hard if that is also supported by the community.
However, with the situation where internet connection did not cover the entire country, that something will face a huge problem and that possible many couldn't still enjoy the benefit it gives to them.

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[livingfree]

It's just about urging and encouragement and I think there's nothing wrong with it. Although their country is also dealing with other important matters.

Just like the people in Venezuela that are surviving because of bitcoin or with crypto in general, this should also be a big help to them when their citizens become knowledgeable about it as an investment and if they learn how to effectively trade it.

[Natalim]

It's just about urging and encouragement and I think there's nothing wrong with it. Although their country is also dealing with other important matters.

Just like the people in Venezuela that are surviving because of bitcoin or with crypto in general, this should also be a big help to them when their citizens become knowledgeable about it as an investment and if they learn how to effectively trade it.

Zimbabwe is in struggle to save their economy from its high inflation that has even increased this time. And maybe just like El Salvador who find bitcoin a solution to their problem, then probably it will not be surprising anymore if Zimbabwe will be the newest country to adopt bitcoin as a legal tender. The Prime Minister has been a pro crypto ever since so if he takes this chance to encourage citizens to accept and adopt crypto, then in less than a year or two, its country's economy will definitely recover.

[Galley]

Aren't gonna say your opinion?. I haven't read the article but I think they would also like to embrace bitcoin just like in El Salvador where bitcoin is now a legal tender and people and businesses can now accept bitcoin as one of their payment method. Embracing bitcoin could also help their country in my opinion.

The minister is imploring Zimbabwean to embrace Bitcoin especially when remitting funds from abroad because of low cost and swiftness of transaction which I believe is a good advice, already there is hyper inflation in Zimbabwe thus there is the need for the citizens to adopt Bitcoin to cushion the effect of using worthless Zimbabwean dollar or they should follow El Salvador adoption of Bitcoin to help their citizens especially low income earners, thus it is up to their government to take a drastic step now.

What's the point of that? If there is a devaluation and hyperinflation of the national currency, how can bitcoin help? Wouldn't it be better for the citizens of such a country to exchange their money for a dollar, British pound, or euro? It is very doubtful that they will be able to freely buy bitcoin for the national currency. They will do a double exchange. Why do they need it?

[mumang siat]

Aren't gonna say your opinion?. I haven't read the article but I think they would also like to embrace bitcoin just like in El Salvador where bitcoin is now a legal tender and people and businesses can now accept bitcoin as one of their payment method. Embracing bitcoin could also help their country in my opinion.

The minister is imploring Zimbabwean to embrace Bitcoin especially when remitting funds from abroad because of low cost and swiftness of transaction which I believe is a good advice, already there is hyper inflation in Zimbabwe thus there is the need for the citizens to adopt Bitcoin to cushion the effect of using worthless Zimbabwean dollar or they should follow El Salvador adoption of Bitcoin to help their citizens especially low income earners, thus it is up to their government to take a drastic step now.

What's the point of that? If there is a devaluation and hyperinflation of the national currency, how can bitcoin help? Wouldn't it be better for the citizens of such a country to exchange their money for a dollar, British pound, or euro? It is very doubtful that they will be able to freely buy bitcoin for the national currency. They will do a double exchange. Why do they need it?

Bitcoin will not be able to help the results of the devaluation and hyperinflation of fiat currency, but bitcoin can be a solution when conditions for fiat money do not run normally, but if there are no special rules governing the function of money specifically, it will be the same between bitcoin and fiat currency , even today the safest investment is gold, which actually has no impact on paper money or other money.

[Gayong88]

If I read this article it shows that the government there accepts bitcoin as a currency, thus the correlation between the government and Giving Zimbabweans access to a safe and secure service for transferring funds. This makes Zimbabwe the first country to officially allow Bitcoin to run and in the end, Zimbabwe's Bitcoin regulations can serve as an example for other African countries to embrace cryptocurrency.

[Tessnik]

This is a welcome development Zimbabwe as a country has witnessed an economic crisis for so long and Bitcoin adoption will help relieve the impact of hardship on the citizens. But again Zimbabwe is known for its high rate of corruption let just hope the corrupt politicians will not take advantage of the decentralized nature to launder money out of the country.

[mbakruroh]

Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.

Of course this provides a solution for their country when Fiat does not provide any value if ti exchanged for US dollars. Zimbabwe has experienced the worst in world history. They had inflation, and printed large amounts of money, so that their money had no value. The presence of Bitcoin with limited supply will provide a solution in overcoming inflation. If they really implement this solution, then their country will rise in the next few years, even becoming the richest country.

[Ararbermas]

It's not surprising because the fact that once no one will start to adopt bitcoin and showing a good results afterwards no one will do the same way as well. And that's what happening right now after El Salvador becomes successful to adopt bitcoin. Wherein many countries trying to embrace it.. For what? Of course to get the benefits that can be obtained from bitcoin.. So expect there will be more good new like these in the future.

[Finestream]

It's not surprising because the fact that once no one will start to adopt bitcoin and showing a good results afterwards no one will do the same way as well. And that's what happening right now after El Salvador becomes successful to adopt bitcoin. Wherein many countries trying to embrace it.. For what? Of course to get the benefits that can be obtained from bitcoin.. So expect there will be more good new like these in the future.

El Salvador was a good example for Zimbabwe to start embracing bitcoin too because its probably the best solution for a falling economy and not to depend anymore from big countries. If they will follow the path of El Salvador, most likely their economy will recover too and thus stopping the high inflation rate that Zimbabwe is experiencing right now. Citizens might be facing a big confusion at first but if this minister can carry out properly the big change into the citizens, then everything will start smoothly for bitcoin.

[Sanitough]

This country has to be free, they don't need the help of big countries if they would like to be independent and that is by embracing bitcoin and crypto as a whole. If El Salvador were able to make it, I'm sure it's not impossible for Zimbabwe who is one of the poorest countries in the world.

I think there's more we can find in this list.

https://worldpopulationreview.com/country-rankings/poorest-countries-in-the-world

[livingfree]

It's just about urging and encouragement and I think there's nothing wrong with it. Although their country is also dealing with other important matters.

Just like the people in Venezuela that are surviving because of bitcoin or with crypto in general, this should also be a big help to them when their citizens become knowledgeable about it as an investment and if they learn how to effectively trade it.

Zimbabwe is in struggle to save their economy from its high inflation that has even increased this time. And maybe just like El Salvador who find bitcoin a solution to their problem, then probably it will not be surprising anymore if Zimbabwe will be the newest country to adopt bitcoin as a legal tender. The Prime Minister has been a pro crypto ever since so if he takes this chance to encourage citizens to accept and adopt crypto, then in less than a year or two, its country's economy will definitely recover.

Yes, it is not surprising if they suddenly announce or there's a rumor that comes out that they'll also did what El Salvador has done.

They needed it and that's for them to beat inflation with a deflationary cryptocurrency which shall be really helpful to their citizens. Just as I've mentioned in Venezuela, it really did a lot of folks there.

[3la9l_kolbaCa]

Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.

To help the society in adapting cryptocurrency, I think this ideas will set fort amazing impact not just financial stability but also their confidence to face future. I was overwhelmed how their government promotes Bitcoin with an open mind approach without hesitation. Probably, there's a law maker on their state seen a huge advantage that crypto will also be a good alternative for a country to develop financially.

[Twinkledoe]

Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.

To help the society in adapting cryptocurrency, I think this ideas will set fort amazing impact not just financial stability but also their confidence to face future. I was overwhelmed how their government promotes Bitcoin with an open mind approach without hesitation. Probably, there's a law maker on their state seen a huge advantage that crypto will also be a good alternative for a country to develop financially.

It is good that they are open to new technologies. Most of their citizens may not know the benefits that they can derive dealing with crypto, but with this statement from their Finance Minister, it will encourage them to check on crypto. Because most of the time, the Financial Officer of the country is the first one to contradict the use of bitcoin or crypto. With his endorsement, their citizens will not be scared of touching the crypto market and learn further about its true nature.

[Hypnosis00]

This country has to be free, they don't need the help of big countries if they would like to be independent and that is by embracing bitcoin and crypto as a whole. If El Salvador were able to make it, I'm sure it's not impossible for Zimbabwe who is one of the poorest countries in the world.

I think there's more we can find in this list.

https://worldpopulationreview.com/country-rankings/poorest-countries-in-the-world

That will be just an ambitious attempt for them. They actually have the problem with their poverty and I think that was the first thing to address rather than getting into adopting crypto which I'm sure that only a few people could afford to invest and buy Bitcoin. Even buying a gadget for themselves is hard, how much more when it comes to investment. Maybe, if the government will shoulder everything they need but as what did to their countrymen, they are helpless.

I couldn't think this will come true and I don't think the government will work that hard just for the sake of helping their economy to grow because they want, they have started it a long time ago in the first place.

[herizal85]

The political and economic turmoil that hit the country made bitcoin even more sought after, as people lost confidence in their local currency and financial institutions in the midst of political and economic turmoil. Bitcoin is a safe haven for people around the world who don't trust their governments

[michellee]

Zimbabwe minister urges citizens to embrace Bitcoin.https://www.investing.com/news/cryptocurrency-news/zimbabwe-minister-urges-citizens-to-embrace-bitcoin-2614946.

There is a great opportunity for this country to develop in the future, if bitcoin starts to be discussed and becomes the attention of the government in its future progress, but there are many weaknesses that will be faced if only bitcoin is given access to make legal investments, considering the price of bitcoin is difficult to reach by the people. ordinary, but at least this country is preparing a good step in the future for its people.

That will depend on how the government will react because not all of the people in the government will agree with the idea and maybe there will be a deniable from them. But if that way can benefit their people, the government should appreciate and try to allow their people to use bitcoin and start making money from it. Maybe it will help their people financially and if that happens, their country can solve the poverty problem. Maybe many things need to be set up before their country allows crypto to be used by their people.

Basically a country has to think about the development of ever-increasing flows, with the support of existing tools or resources, standard rules must be issued to ensure the survival of bitcoin or cryptocurrency in general, otherwise this will not have a major impact on all its citizens, many things are can benefit from approval of permits to manage bitcoin or other coins, as long as the rules are made not burdensome, both the cryptocurrency itself and the country that is starting to open up space for crypto.

The government will think about that and maybe they already do that without their people knowing because they need to research before they regulate crypto in their country. It is normal if they do that because they can not fully control crypto and all they can do is just regulate the provider that will use crypto for the payment system. Somehow, if the government approves crypto, that can boost their people's finances so their people will have another option to make money and if that succeeds, their country can grow in the future.

[Btczaddy]

Just read the news where the citizens spent about 90 million $ just for remittances payment, advising the citizens to embrace crypto is a good thing and it will cut off the fee and makes its easier for its citizens most especially when they are making use of btc and bsc or trx on their daily transaction it will reduce cost. But using the etheruem blockchain can cost them way much more than that per annual 

[iv4n]

Just read the news where the citizens spent about 90 million $ just for remittances payment, advising the citizens to embrace crypto is a good thing and it will cut off the fee and makes its easier for its citizens most especially when they are making use of btc and bsc or trx on their daily transaction it will reduce cost. But using the etheruem blockchain can cost them way much more than that per annual 

The same thing caught my attention! Who follows the news about El Salvador could notice a similar situation, many people who work abroad are sending money back to family... I saw in the news that +$5 billion dollars every year, so I guess they are spending a lot on fees too.

Well, $90 million is going in the bank's pockets instead of in people's pockets, the money they can spend around in their country! The minister probably thinks that fees would be lower with Bitcoin and more money will get into the country, nice argument if you ask me!
Of course, Zimbabwe is a poor country, and probably this is more for people who have someone who works in western countries, poor will stay poor, as always!

[dhemasm]

Zimbabwe is an economic downturn that has long been caused by economic colonization by an enemy country, so the government has taken the initiative to develop or urge citizens to accept Bitcoin as an alternative way to revive its economy back to its heyday, and that is also a sign that crypto currency is also good for growth. Economic growth with the permission of the government also helps in developing crypto technology

Not only zimbabwe i suppose but basically most of country was having an economic downturn lately, From my perspective that was because current pandemic and as you can see it was really affecting the global market but even though like that Some developing country especially Zimbabwe was hitted really hard and Government inivtiave to urge the people to use Bitcoin was really good.