Zimbabwe inflation bitcoin

1. It's hard to say. The worst result is zero

there are many unsuccessful currencies in history, such as the Deutschmark in the Weimar Republic and, more recently, the Zimbabwean dollar. Although previous currency failures were usually e to over inflation that could not happen on bitcoin, there were always potential technical errors, currency competition and political problems. The basic lesson is that no currency can be considered absolutely safe from failure or difficult times. Bitcoin has been proven reliable for several years since its birth, and it has great potential to continue to grow. But no one can predict the future of bitcoin< The rapid rise in price of BR />
does not constitute a bubble. Artificial overestimation will lead to a sudden downward revision, which will form a bubble. The price fluctuation of bitcoin caused by the indivial behavior of thousands of market participants is the result of the market determining the price. From the emotional point of view, the reasons for price changes include: the loss of confidence in bitcoin, the huge difference between price and value not based on the fundamentals of bitcoin economy, more and more news reports stimulating speculative demand, fear of uncertainty, and outdated irrational prosperity and greed.

2.

Since the birth of bitcoin in 2009, the first price to buy bitcoin in 2010 was about US $0.0025. At a price of $27000, bitcoin has risen 10.8 million times since its birth< In other words, the original investment of RMB 1 can buy 61.3 bitcoins, and the current position value is RMB 10.8 million even with bitcoin's amazing growth, Citibank recently announced a target price of $300000, which is 11 times the current price

Although centralized trading has many fatal disadvantages. 100% of the existing currencies and banks in the world are issued or abandoned by the National Central Bank, and ordinary people cannot participate in the issuance of currencies and banks or the central bank accounts. If the Central Bank continues to issue money silver, it will continuously dilute people's money silver and rece the purchasing power of money silver. It's not shocking at all. This has happened in some countries in the world. Take Zimbabwe as an example. In recent years, the government issued a large number of currency and silver, which led to the collapse of Zimbabwe's economy. Finally, the US dollar had to be introced into the local legal currency and silver< Economists are considering replacing bitcoin in Zimbabwe

3.

Zimbabwe's currency is known for its crazy devaluation, and "Billionaires" are everywhere Ten billion Zimbabwean dollars is not even a dollar

Zimbabwe's foreign currency shortage and high deficit are putting the country at great risk. People seeking to preserve their assets have to choose between the scarce US dollar, the "bond currency" just issued by the government last year, bitcoin, which is famous for its huge risks, and various consumer goods

Zimbabwe's commodity export prices are relatively high. In 2016, Zimbabwe's exports fell 6.9% year-on-year, according to the website of the African Development Bank. Roger Southall, a sociology professor at the University of Witwatersrand in South Africa, wrote that although the proction of tobacco, Zimbabwe's main export commodity, has recovered, the quality of tobacco has declined, so export profits are also at a low level

extended data

Zimbabwe Wei reasons for inflation:

1. The land reform around 2000 is the beginning of decline. In 2000, the land reform was changed into violent land reform. Many veterans seized the land directly by force, and they did not pay enough or no compensation to the original owner of the land. The negative result of land reform is obvious. Violent land reform has become a long-term conflict between white farmers and black people. After the black veterans and black people in power got a large area of land, they would not cultivate it effectively

The government has been busy with the party struggle for a long time and has no time to develop its own economy. First, in the 1980s, ZANU and ZAPU fought. Around 2008, there was another election dispute between MDC and ZANU. The long-term party struggle and the government's unwillingness to economic and social development have resulted in bad results

3. Many rounds of Western sanctions make the economy of Tianjin and Pakistan worse. From 2000 to 2002, the Zimbabwean government implemented the "rapid land reform plan", which expropriated white land and resettled black farmers without or without land, resulting in unprecedented intensification of social conflicts in Zimbabwe

Subsequently, the United States and Europe announced a series of sanctions against Zimbabwe. Specific measures include property freeze and travel ban for specific indivials; For example, sanctions policies related to international financial institutions (IFIs); Such as government to government restrictions on loans and development assistance and arms embargoes. Western economic sanctions have made Zimbabwe's domestic economy worse

4. Excessive currency leads to economic collapse. Gono, the governor of the central bank, has no independence of monetary policy at all. He is frantically issuing money to meet the domestic political needs. At the same time, we should realize the double track system of exchange rate and control the official exchange rate. On the one hand, the Zimbabwean dollar (Zimbabwean dollar) depreciated rapidly and continued hyperinflation; On the other hand, the official exchange rate remains stable, resulting in a huge difference from the market exchange rate

4. 800 words? Is it a middle school article? It is suggested to read currency war. Money and banking is a small dictionary, which can only make people who don't know money hate finance.

it is relatively easy to mine bitcoin in its early stage, and sometimes it makes people feel unfair. In fact, the difference between sovereign currency and bitcoin is that the difficulty of issuing sovereign currency is the same, while bitcoin is only easy at the beginning. The sovereignty of sovereign currency to guarantee credit has a "shelf life", while the shelf life of BTC = Internet. It's much simpler to look at the following equations

sovereign currency issuers = central banks; Bitcoin issuers = founders and early absenteeism create 50% of bitcoin in the current total

sovereign currency, the difficulty of issuing currency = almost always equal to a piece of paper; The difficulty of issuing bitcoin is the sum of mining machine price (loss coefficient) + time + energy consumption and so on, and it is increasing continuously, and the future is approaching infinity (PS National Mint is almost zero cost plant and machinery and equipment)

the value of sovereign currency itself = sovereign credit guarantee, and the shelf life is limited (man ruled system); The value of bitcoin itself = a value system, the shelf life is equal to? The existence of the network, its credit is not issued by a certain government or a certain Dynasty, its credit is issued to you by every user in the system (system of physical governance)
(the monetary inflation in Zimbabwe mentioned in PS program is a very vivid example)

the Central Bank of sovereign currency controls more than 80% of the currency entering the circulation link; How does the sense of unfairness of

bitcoin come into being
1. Different issuers, the state or the central bank controls you in the sovereign monetary system, no matter how much wealth you are deprived of, because you are a vulnerable group. According to a series of factors such as herd mentality, you never dare to think that this is abnormal. The "issuers" of bitcoin (let's call them issuers here) can only exchange the initial wealth at one time. They are just early practitioners and can't control the system. These people do not have the same power as a sovereign state, so they think they should not be so "cool"? At the same time, I think this is the game currency. What are you doing
2. People who don't understand the whole system (usually onlookers, because they don't hold it, they don't really care about money and seriously understand bitcoin), we call them target groups, for example,
there is a phenomenon in Psychology: A, one day, you and a bully (or someone you think is very strong), a person with the same status as you, At the same time, I found that there was a huge amount of money of 1 million on the ground, and the bully (or you think it's very strong) picked it up first, so you and the person of the same status would not have any resistance; However, if you or someone with the same status as you pick it up, the other party will have a very unbalanced psychology and will want to solve it by force, while the bully will decide whether to intervene or not according to whether the incident affects his fundamental interests. B. It's the same thing above. If a bully picks up a million dollars every day, you two people of equal status will not cry. If you and people of equal status pick up the million dollars (only once), one party will hate the other. Above a, B hypothesis can continue to write for a long time, this is human nature, will exist for a long period of history
3. In this era, people's overall consciousness has not been advanced. Most people still only believe in hegemony. They worship the strong in different fields and trust the currency of the hegemonic system more. This will not change for a long period of time. This is connected with the political and governance system. In fact, the financial progress and even political progress involved in bitcoin are too advanced to be seen clearly at present, which is also caused by the limitation of human understanding. So many people who only engage in finance do not understand the Internet and bitcoin. Those who understand the Internet and are not familiar with finance can not persuade those who engage in finance, but those who do not understand politics or systems can not fully understand it. Among the governance systems of Europe and the United States, Germany's political system is the closest to "system governance", which is closely related to why Germany first recognized the currency status of bitcoin...

if the initial or centralized holders of bitcoin do not abandon bitcoin, what will they do? How to make it a universal currency
1. The popularity of bitcoin has many dimensions. From a small number of huge holders to the public holders is a dimension. Bitcoin is widely accepted in different countries, cultures, regions and consumption fields. There are also multiple dimensions. These dilution processes are also related to the prosperity and time of the world's major sovereign currencies. It's a huge chemical reaction and it's irreversible. A large number of supporters are only one-time issuers. This dilution is irreversible, so there is no need to worry about it
2. Worry that bitcoin will be replaced by later powerful electronic currency? That's for sure, and the worry is too far ahead of time. It's faster than the speed of light. There is no permanent form of money, which can be seen from the development of money, and with the weakening of the concept of guaijia, the sovereign currency Hui withdrew from the stage of history. The era of more powerful e-money may intersect with bitcoin, maybe after the heyday of bitcoin, but it is unlikely to appear before the heyday of bitcoin. If there is such a situation, it must be driven by a strong external force. It's unlikely that

5. I think there should be a quotation mark for a billionaire, where is the billionaire, but it's true
but a piece of bread may sell for hundreds of millions. Our teacher talked about the example of Zimbabwe. This is a stupid method of economic development, without considering that prices will rise with economic development

hope to help you... Thank you

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