selling bitcoin at 9000 dollar in afrika

[felander]

I have just been reading these articles that there is such a shortage cash in Zimbabwe and big inflation that the poplulation seems to be fleeing to the cryptosphere

and in doing so they have driven up the price of bitcoin in their one exchange : Golix.io to extreme hights

they are now paying 9k for one bitcoin and 475 for dash

I have quickly created an account on golix to check and this is indeed true as you can see on the screenshot below

I did not have time to investigate a bit more but now that the news is out there this is probably going to be taken advantage of

my question is this though:

do you consider it fair to do so because you are basically robbing people living in a country on the brink of bankruptcy

I know bitcoin is a free market and sometimes there are slight differences between exchanges but seeing close to 50% difference must be abnormal even if the demand is really low

I personally would feel bad in doing so but can imagine that less scrupulous people will and are taking advantage

screenshots are mine

sources
https://bitmakler.net/african-golix-exchange-values-bitcoin-at-over-9-000-right-now__news_164973
http://www.newsbtc.com/2017/10/20/african-golix-exchange-values-bitcoin-9000-right-now/

Comments

[fun4dudes]

OMG!!

[gammastern]

In my opinion this is not really fair. The market shall define the price and not some artificial barriers that are created. Just because they might not have banks allow to exchange easily to USD or EUR to do the trades, shall not result in such an extra charge.

[felander]

thats the thing though, they drove up the price all on their own but in a sense it was just the local Zimbabwean (hope this is spelled correctly) market creating this price and not the worldwide one

[therealwolf]

Aaaah yeah @felander

I like my Posts well done and yours is written to perfection. You earned this 0.31$ Upvote!

PS: You can earn 30% Vote-Cashback by upvoting this comment and all other post/comments by @therealwolf

Checkout: http://steem.link/introduction-wolfs-voting-bot

[papa-hello]

Fantastic post!

[felander]

thanks a lot

[sanowar75]

Nice post

[felander]

thanks

[hannah3]

Great post :)

[felander]

thanks for the compliment

[ntony]

I don't think it's a bad thing to sell overpriced bitcoin to anyone. If they buy it then that is the real price of it for them. They may even get profit if they hold it for a year.
I feel bad for the poor people, but they can always use barter for food and clothing. Sure, their businesses are doomed without a currency.