How Bitcoin Has Helped Me Live Above the Hyperinflation in South Sudan

South Sudan

As many might already know, South Sudan is one of the baby countries that have just gained independence 6 years ago on the 9th of July 2011 in a tranquil referendum that was endorsed by over 95% votes. The country is a member state of both the UN and the African Union currently.

As you might be aware of, South Sudan was fortunate enough to own over 75% of the oil reserves in former Sudan. This consequently culminated in making oil the dominant natural resource found in the country; in fact oil contributes over two-third of the countrys GDP. Besides oil, the dominant sector is agriculture, which over 85% of the population engaged on a subsistent scale.

South Sudan, since 2013 has been in a civil war and this has never told the slightest good upon the country. It has only caused the outbreak of virulent economic diseases in the country; diseases ranging from increased poverty, loss in the potency of the Sudanese pounds, dwindled oil production and gross hyperinflation. Talking about hyperinflation, the annual inflation has so depreciated by 661.3% from July 2015 to July 2016. It is now 730% from August 2015 over a period of one year.

The great fortune I make by trading Bitcoin in the face the current civil war can largely be associated to number of factors.

My Story

Personally I am from South Sudan. I have had my own share of the misfortune that has plagued the country over the past few years. Upon all the formal documentations of agreements that would lead to cessation of hostilities in South Sudan in 2005. One year later, I ventured into doing business and ignited a career in basketball that would last a fair while. I also made some investments in several industries including housing, agricultural sector, and oil. My smooth ride in business was only going to last as long as 2013, when the war begun. The currency shrunk in value from roughly 18 SSP as at 2015 to 125.45 SSP to $1 currently. That was slightly more gross inflation than the financial collapse I experienced as a consequence.

Just three years ago in 2014, I learned about and invested in Bitcoin. Bitcoin is a cryptocurrency improving in value since its 2009 launch. Bitcoin has appreciated from $26 to $17000+ in 8 years since 2009. Indeed since then I have made more returns than all my losses! I can say with a good level of confidence that I have begun to reap the true fruits of investments.

The great fortune I make by trading Bitcoin in the face the current civil war can be associated with a number of factors. First, no central body from any country monitors cryptocurrency. It is a financial system designed to evade the chances of economic influences from a single country. Also, the system accommodates miners irrespective of the economic situation of his home country. It is all about investment in an encrypted internet currency that certainly appreciates with time.

The Opportunity

There are no boundaries to what you can achieve, and that includes economic boundaries. There are no limits if you can set your goals and dreams high enough. Soar high and grab the highest laurels. In the chaos of South Sudan, or any African country, there is the possibility to scale above the unfortunate circumstances and thrive against all odds. Where could be a better laboratory to experiment the possibility of success in crisis than in South Sudan especially when over 66% of the population is millennial and youthful? Why should youths not take advantage of this digital age and never miss this open fortune because of their countrys misfortune?

 However threatened South Sudan currently is, irrespective of the over-dependence on oil (which has been projected to be exhausted in 2035), I am most certainly a proof to the wise entrepreneurial saying: in the face of adversity, there is an opportunity.

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