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A comment on Bill Gates Says that Bitcoin is bad For the Planet. Parent comment

Re:Bill Gates Says that Bitcoin is bad For the Planet by imtringued on Monday March 08, 2021 @03:14PM (#26390878)
>I am originally from Zimbabwe and have much to say about trusting the government with insuring the value of cash...

Have you ever thought about how to boost the economy and thus the ability to exchange zimbabwean dollars for more services and goods? Because that is what is necessary to get the zimbabwean dollar back in order.

Anything whose price is going up is scare and its domestic production must be expanded.

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Re:Bill Gates Says that Bitcoin is bad For the Planet by zamalek on Monday March 08, 2021 @03:24PM (#26391010)
Yes, you have to do the opposite of what the government did (printing more cash): remove money from circulation. The Zimbabwean dollar ceases to exist, regardless. They have adopted forex, usually ZAR and USD.

My main point is that fiat currency implies trust in some entity. Zimbabwean vendors have chosen to trust the South African and US governments.

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