Zimbabweans Have No Choice But to Accept New Currency but Bitcoin is Best
To experience an inflationary rate of up to 500 bln percent is insuperable to creating wealth and better living standards. Robert Mugabe and his cronies thought they could defy basic economic principles and still have their way. Their actions have created untold hardships for many of their compatriots. It is a pity that a food basket like Zimbabwe has to experience famine. Just last month the government introduced a new “bond note” currency pegged to the US Dollar. Ridiculously, it was the same government that printed money consisting of up to a 100 trillion Zimbabwe dollar note, which....
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Zimbabwe's currency, the Zimbabwean dollar, is undergoing super-hyperinflation. It is not on its last legs, its kaput, its collapsed, its down and out. Zimbabweans will have to exchange quadrillions of local dollars to gain a few US dollars next week. What would you do? There are various options that Zimbabwe might go in. Create a new fiat currency. Create a new fiat currency. Adopt the US Dollar. Adopt Bitcoin. Create their own digital currency. If they create a new fiat currency then who in the global market would accept it? How long would it take to create, and get accepted into the....
Services like Coinbase and BitPay have been quite the godsend for businesses looking to accept bitcoin. Their services allow merchants to accept the digital currency and instantly convert it back to the fiat currency of their choice - but some in the community disagree with the method, stating that businesses that accept bitcoin should at least keep some of it to support the bitcoin economy. (Take Overstock.com, for example. The company recently stated that they keep ten percent of their bitcoin income as bitcoin.) So why shouldn't others follow suit? Coinbase announced today that....
Cryptocurrency exchange Atlas ATS has introduced a new feature that allows users to lock in quoted bitcoin prices for up to 60 seconds before executing a trade. Called its 'Price Lock Guarantee', the latest feature from Atlas ATS is aimed at enticing payment processors, ATM operators and merchants who accept bitcoin to use the platform as a way to hedge against short-term volatility in the market. Atlas ATS CEO Shawn Sloves framed the service as one that helps these market segments better utilize bitcoin as a payment network, while guarding against short-term losses that could occur due to....
Brian Armstrong, CEO and co-founder of Coinbase, claims bitcoin is upgrading rather than splitting on account of Bitcoin Classic, and he’s willing to bet anyone $5,000 that he’s right. Armstrong, writing on Medium, said hard forks are one of the most important bitcoin innovations and having multiple teams working on the bitcoin protocol is a positive thing. He said he is willing to bet $5,000 USD payable in any equivalent amount of fiat or crypto currency to the charity of the winner’s choice that bitcoin’s first hard fork will be an upgrade of a single currency, not a split, and all will....
Move over, Overstock.com, there's another big player in town that's going to be accepting bitcoin. Announced today, TV giant Dish Network Corp. announced they will become the largest company and first subscription model pay-TV yet to accept bitcoin. Working in partnership with San Francisco-based Coinbase, the company says they're planning to accept digital currency payments later this year, perhaps by September. According to company chief operating officer Bernie Han, the idea came from DISH employees who have over recent months become bitcoin enthusiasts. "We always want to deliver....