Luigi1 Posted October 30, 2017 Report Share Posted October 30, 2017 Luigi says... So you think the ZIM will make you a $Trillionaire? You better think again. The Zimbabwe economy is in shambles & more than likely stay in shambles. Do not listen to all the Guru hype out there. The ZIM is a dead currency. Read & heed. 10/30/2017 rumors from around the web... Zimbabwe Hyperinflates Again. Entering the Record Books For A Second Time In Less Than A Decade. Steve xxxxx , CONTRIBUTORI cover economics and finance.Opinions expressed by xxxx Contributors are their own. WILFRED xxxxx AFP/Getty Images. In 2008, Zimbabwe suffered the second most severe episode of hyperinflation in recorded history. Zimbabwe’s annual inflation rate peaked in November 2008, reaching 89.7 sextillion (10^23) percent. Well, Zimbabwe is experiencing hyperinflation again today. Zimbabwe’s annual inflation rate is currently at 348%. ... 5 4 Quote Link to comment Share on other sites More sharing options...
SnowGlobe7 Posted October 30, 2017 Report Share Posted October 30, 2017 I have to say...I researched the Zim.....not one I thought would be worth the investment I agree with ya on this one Luigi 4 Quote Link to comment Share on other sites More sharing options...
Luigi1 Posted October 30, 2017 Author Report Share Posted October 30, 2017 2 hours ago, SnowGlobe7 said: I have to say...I researched the Zim.....not one I thought would be worth the investment I agree with ya on this one Luigi Luigi purchased a little just if by some remote chance I can make a little something off of it. Oh well...I'm out very little cash on this one. 4 3 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted October 30, 2017 Report Share Posted October 30, 2017 Very unlikely. 2 1 Quote Link to comment Share on other sites More sharing options...
King Bean Posted October 31, 2017 Report Share Posted October 31, 2017 22 hours ago, SnowGlobe7 said: I researched the Zim.....not one I thought would be worth the investment. Good call, Snow. The fools at TNT and Recr@ps still tout the ZIM as a goldmine. Newbies beware of sites advertising to trade your dinar for ZIM. Money down the toilet. 1 2 1 Quote Link to comment Share on other sites More sharing options...
JoeB Posted October 31, 2017 Report Share Posted October 31, 2017 If ZIM would go to par with USD the "investors" would have to be quick because there is money enough in the world to cash in only ONE 100 trillion note... 2 Quote Link to comment Share on other sites More sharing options...
King Bean Posted October 31, 2017 Report Share Posted October 31, 2017 23 minutes ago, JoeB said: If ZIM would go to par with USD the "investors" would have to be quick because there is money enough in the world to cash in only ONE 100 trillion note... Luckily....Luigi claims to have that one. And he's staked out in a 'redemption center' in Reno, playing cards with the staff who have been on 'stand by' for several years. 1 1 Quote Link to comment Share on other sites More sharing options...
blueskyline Posted October 31, 2017 Report Share Posted October 31, 2017 ww.cnn.com/2017/10/31/africa/zimbabwe-bitcoin-surge/index.html....................... What is fueling Zimbabwe's record-breaking Bitcoin binge? By Kieron Monks, CNN Updated 7:50 AM ET, Tue October 31, 2017 Zimbabweans queue to withdraw cash outside a bank in Harare. A severe currency shortage has led to growing interest in digital alternatives. Story highlights Bitcoin reaches record price in Zimbabwe Soaring demand prompted by shocks in the formal economy Government could crack down on the digital currency, or adopt it (CNN)The most expensive bitcoin in the world are flying off virtual shelves in Zimbabwe. The price of the digital currency has soared beyond $10,000 over the past week on Harare-based trading platform Golix, almost double the rates on major international exchanges. "The price has been high for some time and it keeps going up," says Golix trade coordinator Yeukai Kusangaya. She expects soaring demand to drive the price even higher. Bitcoin is no longer a specialist curiosity in Zimbabwe. The virtual currency is in increasingly common usage, even accepted by businesses such as car dealers. A uniquely dysfunctional economy has created ideal conditions for the bitcoin surge. Bitcoin prices have topped $10,000 over the past week, fueled by soaring demand. Safe haven Zimbabwe is undergoing a fresh currency crisis. President Robert Mugabe's administration addressed rampant hyperinflation in 2008 by ditching the Zimbabwean dollar and replacing it with US currency. But the southern African nation now faces an acute shortage of US dollars that has led to banks rationing withdrawals. The government has sought to make up the shortfall by issuing "bond notes" that it claims have equivalent value to the US dollar. But their value has dropped sharply on black market exchanges, leading to price inflation in stores, and they are not accepted by foreign suppliers. International trade is further complicated by strict capital controls, which have left importers searching for creative solutions -- including digital currencies. "Bitcoin isn't subject to the central bank measures so it has become an alternative that importers are willing to pay a premium for," says Zimbabwean technology analyst Nigel Gambanga, pointing to a rise in businesses accepting the currency as payment. Bitcoin also offers investors a refuge from the faltering formal economy. "When confidence in national currencies wavers because of monetary policy or political uncertainty, bitcoin often behaves as a safe haven because the price is totally based on market discovery," says Nolan Bauerle, director of research at news site CoinDesk. "Some people find bitcoin useful because it is immune from the bright ideas of centralized authorities and their unintended consequences." A photo of a one hundred trillion dollar note, issued by Zimbabwe's central bank after hyperinflation. Zimbabwe now uses US currency. Test case Even before the current crisis, Zimbabwe offered favorable conditions for bitcoin adoption. The country ranks third on the Bitcoin Market Potential Index, created by economic historian Dr. Garrick Hileman of the University of Cambridge, just behind the inflation-plagued economies of Argentina and Venezuela. The Index cites Zimbabwe's vast informal economy and history of financial crises as key factors that could drive bitcoin adoption. But while Zimbabwe's conditions are unique, digital currency experts believe it offers a valuable test case for the viability of bitcoin on a national scale, which could have global implications. "The underlying takeaway is that cryptocurrencies are here to stay and have a place in the world where monetary policy and fiat currencies cannot be trusted," says Saxo Bank analyst Kay Van-Petersen. "It's only a matter of time before an emerging or frontier market government decides to adopt a cryptocurrency as a foundation for credibility, transparency, accountability, and attraction of foreign capital." New research suggest Bitcoin adoption is more popular in countries that have suffered financial crises such as Zimbabwe and Venezuela (pictured). Beat them or join them? Should the bitcoin surge continue, the market could come under pressure from Mugabe's authoritarian government. "I wouldn't expect any tolerance from a country with a fragile financial system trying to maintain capital controls," says Hileman, suggesting the Zimbabwean government might follow China's example of banning bitcoin exchanges. But he questions whether the country has the resources to enforce such a ban, which could safeguard the currency's future. Another possibility is the government could embrace a thriving market and seek to take advantage of it. "If trade in bitcoin intensifies with no resolution to the country's currency woes, we could witness the central bank and government revise its position by taking on a more active role in cryptocurrency trading," says Gambanga. "At the very least, (by) recognizing cryptocurrencies through some form of regulation." The analyst even raises the prospect of bitcoin becoming an official currency of Zimbabwe. "The state has already taken extreme measures like banning the importation of fruits," he says. "So adding bitcoin to the country's multi-currency basket might not be so absurd." Recom Recommended by 1 Quote Link to comment Share on other sites More sharing options...
umbertino Posted November 1, 2017 Report Share Posted November 1, 2017 Visited a few times in the 80's when Country was almost normal....Fell in love with the place and married a Zimbabwean lady.....That was my 1st marriage.... 1 Quote Link to comment Share on other sites More sharing options...
DinarThug Posted November 1, 2017 Report Share Posted November 1, 2017 25 minutes ago, umbertino said: Fell in love with the place and married a Zimbabwean lady.....That was my 1st marriage.... She Left Umbertino For A Nigerian Prince ! 3 Quote Link to comment Share on other sites More sharing options...
sandfly Posted November 1, 2017 Report Share Posted November 1, 2017 1 Quote Link to comment Share on other sites More sharing options...
King Bean Posted November 1, 2017 Report Share Posted November 1, 2017 (edited) 12 hours ago, DinarThug said: She Left Umbertino For A Nigerian Prince ! Apparently I'm related, too. I got an email from the Prince telling me I had a huge inheritance. They just need my bank information and some 'paper work'. So I got that goin' for me! Edited November 1, 2017 by King Bean 1 Quote Link to comment Share on other sites More sharing options...
Luigi1 Posted November 1, 2017 Author Report Share Posted November 1, 2017 12 hours ago, umbertino said: Visited a few times in the 80's when Country was almost normal....Fell in love with the place and married a Zimbabwean lady.....That was my 1st marriage.... Visited Harare Zimbabwe in the 70s, still under the Commonwealth, when it was called Salisbury Rhodesia. Beautiflul country, beautiful people. The land of a 1,000 waterfalls. 3 1 Quote Link to comment Share on other sites More sharing options...
newbieDA Posted November 2, 2017 Report Share Posted November 2, 2017 20 hours ago, King Bean said: Apparently I'm related, too. I got an email from the Prince telling me I had a huge inheritance. They just need my bank information and some 'paper work'. So I got that goin' for me! I had a Hotdog sing to me =) Quote Link to comment Share on other sites More sharing options...
newbieDA Posted November 2, 2017 Report Share Posted November 2, 2017 Quote Link to comment Share on other sites More sharing options...
SnowGlobe7 Posted November 2, 2017 Report Share Posted November 2, 2017 6 hours ago, newbieDA said: I had a Hotdog sing to me =) put down the crack pipe and slowly back away.......... 1 Quote Link to comment Share on other sites More sharing options...
olivesman Posted November 2, 2017 Report Share Posted November 2, 2017 I bought A note. It's FUN to say, "I'm a TRILLIONAIRE!" (Ain't a lie!) (not that it means anything) 3 Quote Link to comment Share on other sites More sharing options...
pokerplayer Posted November 2, 2017 Report Share Posted November 2, 2017 14 minutes ago, olivesman said: I bought A note. It's FUN to say, "I'm a TRILLIONAIRE!" (Ain't a lie!) (not that it means anything) Thats pretty cool om, were did you find that ? pp 1 Quote Link to comment Share on other sites More sharing options...
SnowGlobe7 Posted November 2, 2017 Report Share Posted November 2, 2017 I would pick one up as a joke as well.....how much is i trillion zim? Quote Link to comment Share on other sites More sharing options...
Luigi1 Posted November 2, 2017 Author Report Share Posted November 2, 2017 16 minutes ago, SnowGlobe7 said: I would pick one up as a joke as well.....how much is i trillion zim? Luigi purchased 8 Trillion for about $70. Not out too much money but ya, it's a conversation piece. I think I'll frame them & hang it on the mantle above fireplace. 3 1 Quote Link to comment Share on other sites More sharing options...
pokerplayer Posted November 2, 2017 Report Share Posted November 2, 2017 2 minutes ago, Luigi1 said: Luigi purchased 8 Trillion for about $70. Not out too much money but ya, it's a conversation piece. I think I'll frame them & hang it on the mantle above fireplace. Were did you get them Luigi ? I would want one as a gag as well pp 1 Quote Link to comment Share on other sites More sharing options...
olivesman Posted November 2, 2017 Report Share Posted November 2, 2017 4 hours ago, pokerplayer said: Thats pretty cool om, were did you find that ? pp Been a couple of years, I don't remember how much but I don't think I paid that much. Seems like it was only $20ish for one 50 Trill. 3 Quote Link to comment Share on other sites More sharing options...
SnowGlobe7 Posted November 3, 2017 Report Share Posted November 3, 2017 OMG 50 Trillion..no way that is ever gonna do anything Gonna look on ebay later 1 Quote Link to comment Share on other sites More sharing options...
olivesman Posted November 3, 2017 Report Share Posted November 3, 2017 (edited) It must've been about 70 bucks. (Rememberer doesn't work perfectly since the stroke...) (Then again, $70 in my previous position seems about like $20 now! Edited November 3, 2017 by olivesman 2 Quote Link to comment Share on other sites More sharing options...
umbertino Posted November 3, 2017 Report Share Posted November 3, 2017 On 1/11/2017 at 1:45 AM, DinarThug said: She Left Umbertino For A Nigerian Prince ! No...Unfortunately she left this plane in 1996.... 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.