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Title: It began in AFRICA!!! Post by: CoinRocka on April 25, 2014, 06:01:51 PM Talk about the possibilities of wealth redistribution. Imagine we fast forward 3 years and there are more Africaners with mobile devices holding bitcoin than in let's say America. The 3rd world economies adopting first and leading the revolution...
Title: Re: It began in AFRICA!!! Post by: jc01480 on April 25, 2014, 07:22:55 PM Um, not sure if you know this or not but the US isn't really as advanced technologically as say, Europe. Look at a European credit card for example. The US is too lazy to upgrade the infrastructure because that cuts into the bottom line, etc., etc....
Title: Re: It began in AFRICA!!! Post by: Boston.Miner on April 25, 2014, 07:32:27 PM ... and where Africa reside in this picture from 2013 ?
http://www.euromonitor.com/medialibrary/HighResImage/UnderstandingChinaTCM.png Title: Re: It began in AFRICA!!! Post by: Pente on April 25, 2014, 07:47:10 PM I see more young people with Androids in Kenya than I do in the USA.
In fact, most young Kenyans have two phones. This is because some services basically allow you to make free phone calls, while others allow you to receive free phone calls. None do both though. So you keep two different phone to keep your costs down. BTW, most young Kenyans are use to the idea of sending money using their phone thanx to Mpesa. Edited to correct spelling error. Title: Re: It began in AFRICA!!! Post by: roslinpl on April 25, 2014, 08:02:15 PM I see more young people with Androids in Kenya than I do in the USA. In fact, most young Kenyans have two phones. This is because some services basically allow you to make free phone calls, while others allow you to receive free phone calls. None do both though. So you keep two different phone to keep you costs down. BTW, most young Kenyans are use to the idea of sending money using their phone thanx to Mpesa. They seems pretty well informed in the IT techs and I am 100% sure that they will use Bitcoin very well. Title: Re: It began in AFRICA!!! Post by: keithers on April 25, 2014, 08:24:04 PM Talk about the possibilities of wealth redistribution. Imagine we fast forward 3 years and there are more Africaners with mobile devices holding bitcoin than in let's say America. The 3rd world economies adopting first and leading the revolution... Hard to imagine, but I would actually be stoked to see some of the poorer countries come up. Seeing first hand some of the conditions that kids are born into is really sad.. Title: Re: It began in AFRICA!!! Post by: BitchicksHusband on April 25, 2014, 08:27:27 PM But when you consider that there is already more money in Bitcoin than in almost all of the countries in Africa combined, you'll quickly see that it will have little impact in the price.
But I would love to see Africans enter the modern world quickly because of bitcoin. That would be awesome for them. Title: Re: It began in AFRICA!!! Post by: minerpart on April 25, 2014, 09:24:55 PM But when you consider that there is already more money in Bitcoin than in almost all of the countries in Africa combined Where do you get that from?! http://en.wikipedia.org/wiki/List_of_African_countries_by_GDP_(nominal) (http://en.wikipedia.org/wiki/List_of_African_countries_by_GDP_(nominal)) GDP of Africa must be over 2,000 Billion USD by now and it's rising quickly. Title: Re: It began in AFRICA!!! Post by: elasticband on April 25, 2014, 09:48:19 PM Africa pretty much skipped the pc laptop generation and jumped in right at the mobile tech.
Being able to backup and hide your wealth in poorer countries is a great advantage, cryptos suit the developing countries, they just need easier access. Title: Re: It began in AFRICA!!! Post by: Redrocket2 on April 25, 2014, 09:53:59 PM Yes there are plenty of money everywhere :D
But when you consider that there is already more money in Bitcoin than in almost all of the countries in Africa combined Where do you get that from?! http://en.wikipedia.org/wiki/List_of_African_countries_by_GDP_(nominal) (http://en.wikipedia.org/wiki/List_of_African_countries_by_GDP_(nominal)) GDP of Africa must be over 2,000 Billion USD by now and it's rising quickly. Title: Re: It began in AFRICA!!! Post by: bananas on April 25, 2014, 10:04:12 PM www.youtube.com/watch?v=PRC7zKfKomc
Title: Re: It began in AFRICA!!! Post by: minerpart on April 25, 2014, 10:30:44 PM South Africa was primarily built by Europeans but it is now crumbling away since Madela took over, so I wouldnt clump them in with the rest of Africa. However, if you take just sub Saharan Africa then his statement is basically true, more money in bitcoin than in all of Africa. Dumbest post of the day. Despite hard facts (yes even Wiki can be trusted on some things) you repeat the nonsense that a Continent with 2,000 Billion GDP and over 1 Billion people has less money in it than a 6 Billion dollar market cap digital currency based on a few mill speculators. Get a life dude. 32 of the 52 countries in Africa EACH have a bigger GDP than bitcoin's market cap. These are all Sub Saharan nations: Kenya - 34 Bilion Sudan - 64 Billion Ethiopia - 31 Billion Ivory Coast - 24 Billion Zambia - 19 Billion Tanzania - 23 Billion Botswana - 17 Billion Uganda - 16 Billion Namibia - 12 Billion Cameroon - 25 Billion There are many more and this data is 3 years old. Title: Re: It began in AFRICA!!! Post by: grifferz on April 27, 2014, 03:09:18 PM Compared to the whole rest of the world, though, all the African countries combined have a relatively low GDP. I think that means that it doesn't make a lot of sense for an outside organisation to try to launch something targeted solely at the African market.
I do think that something like Bitcoin is ideal for Africans themselves though as there is a much higher take-up of mobile banking there, currently with ruinous fees. Bitcoin could free them from that and make a real positive change to their standard of living, helping to even things up. I just don't think it's going to make anyone outside Africa richer than they are now. Title: Re: It began in AFRICA!!! Post by: Phinnaeus Gage on April 27, 2014, 04:25:29 PM Compared to the whole rest of the world, though, all the African countries combined have a relatively low GDP. I think that means that it doesn't make a lot of sense for an outside organisation to try to launch something targeted solely at the African market. I do think that something like Bitcoin is ideal for Africans themselves though as there is a much higher take-up of mobile banking there, currently with ruinous fees. Bitcoin could free them from that and make a real positive change to their standard of living, helping to even things up. I just don't think it's going to make anyone outside Africa richer than they are now. You do realize that Africa is a continent and South Africa is one country on said continent, don't you? Title: Re: It began in AFRICA!!! Post by: grifferz on April 27, 2014, 04:54:23 PM You do realize that Africa is a continent and South Africa is one country on said continent, don't you? Yes, that's why I said "all the African countries". The GDP of all African countries combined is only about 1,800 billion USD. If it were a single country it would be something like 11th on the table of per-country GDP. I don't think it is an attractive market for a Western investor. I do think it is an attractive market for a business local to the African continent and could really help shrink the gap. Title: Re: It began in AFRICA!!! Post by: BitCoinDream on April 27, 2014, 05:00:05 PM ... and where Africa reside in this picture from 2013 ? http://www.euromonitor.com/medialibrary/HighResImage/UnderstandingChinaTCM.png As I understand Euromonitor International is market research firm and MR data for third world countries are mostly unreliable. |
