News: Zimbabwe, why invest in Bitcoin, post-apocalyptic Bitcoin, how to get security researchers’ attention

News: Zimbabwe, why invest in Bitcoin, post-apocalyptic Bitcoin, how to get security researchers’ attention

  • “This new currency was supposed to be fully convertible into U.S. dollars, a promise that has proven to be illusory. It has since slipped to a large discount to the dollar. So when Zimbabweans buy bitcoin for $13800 — they aren’t paying with U.S. dollars, they are paying with this new unit … In Zimbabwe, the market exchange rate is set unofficially, on street corners and such. Without an on-the-ground data gathering network to canvas street corners, an outside observer can get a decent proxy for the exchange rate by gathering bitcoin prices on the internet.”
  • “Three-quarters of bitcoin holders could not identify a sound financial reason for investing, two-thirds said they hadn’t locked in a nickel of profits even as the price of the token rocketed skyward.” (So I’ve made more actual money in a bank account from Bitcoin than that two-thirds, without ever touching one.)
  • Oh my goodness, I have paying patrons! (Paying on December 1, anyway.) I now feel a compulsion to deliver. Tell your friends and colleagues about this fabulously insightful news blog and get them to sign up too.


 



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