Bitcoin Forum

Hi all, I was reading up about the use of crypto in africa as a conventional currency between individuals. Where banks aren't really to be trusted and volatility of currency can be higher than crypto BTC if you consider a coup d'etat can be just behind the corner.

What are you thoughts and anegdotes you could share  ;D ?

don’t think you are able to use Alt coin as an alternative currency. You can use it when your government will give permission to use it. Otherwise I think this is not possible.

I actually didn't know that there is actually a currency that is highly volatile than cryptocurrency. The reason why cryptocurrency is not yet ready to replace fiat is because of it's market volatility and the price can be easily manipulated. However, I think once the government starts regulating cryptocurrency, it can really be convenient to everyone.

well, if you make a coin tied to anything or that the price remains unchanged by the example of tether. then it can easily replace Fiat

I think this is not feasible, as at now in many Africa country Cryptocurrency is illegal so it will be very difficult to transact with it. I think the first thing is for many government to accept Crypto as an alternative currency before people can start using it.

It can't easily replace fiat, in fact that tether has been used dollar to defend its value and it can't replace fiat because there was no any support by regulators. it will be impossible for tether to replace fiat as the main payment system in our real life. Can you tell me how you can do that without any regulator support to the crypto?