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4461  Economy / Economics / Re: Cryptocurrency adoption in Africa on: May 26, 2020, 09:09:35 AM
Yes, there could be one problem, that is the support infrastructure coming from the government. But we all know that a simple cellphone can make a lot of difference. They can transact, trade and over buy crypto which is a good start for that continent. So probably in the next 2-5 years, we're going to see a big growth in terms of numbers of traders and crypto enthusiast.

Quote
The World Bank and African Development Bank report there are 650 million mobile users in Africa, surpassing the number in the United States or Europe. In some African countries more people have access to a mobile phone than to clean water, a bank account or electricity, the agencies add.
Mobile phone usage has really grown in the continent, in Nigeria for example, it was introduced in the early 2000s and in less than 2 decades, it's become a very common commodity. Internet enabled phones usage may still be limited, but it's also on the rise.
Government intervention is not a necessity in the growth of cryptocurrency, infact major governments around the world are restricting it's adoption within their nation due to it's decentralized nature, most African nations may not be receptive to it, but there are few laws that restricts it's growth.
4462  Other / Beginners & Help / Re: Buying Bitcoin on: May 25, 2020, 10:08:48 PM
I'm in the US.  When you write KYC, are you referring to verification like the Google Authenticator app?
No, KYC stands for Know Your Customer. It's a process webistes use to verify the identity of users of their service in compliance with financial regulations. You regularly would be requested to submit an identity card and indicate your source of income.

Does it take a few days to deposit a couple thousand dollars or can an of these exchanges take deposits within a few minutes?
Typically it should take a few minutes.
Note that, I can only vouch for exchanges i have used personally.
4463  Economy / Economics / Re: Cryptocurrency adoption in Africa on: May 25, 2020, 09:37:38 PM
I am not saying this is all parts of Africa of course, there are very advance and awesome places there as well.
So like every other continent, there are good and bad areas.

Why are we shocked that Africa has harder time to adopt these things compared to rest of the world.
The objective of this thread was not to draw light on the problems of the continent but rather to highlight the rate of growth of cryptocurrency within the continent, this is evident in the link I included in the OP.
4464  Other / Beginners & Help / Re: Buying Bitcoin on: May 25, 2020, 09:20:28 PM
The best exchange to use would depend on some factors, like your locality, your trying currency; fiat or some other cryptocurrency and also your stand on identity verification.
You can purchase through binance; they have a limit on withdrawals that can be made without KYC.
Localbitcoins is also a good medium to purchase.

What's the difference between a stop and limit order?
A stop order could act as a means of preventing losses, if you enter into a trade, you can set a stop order to automatically pull out once it falls to a certain price.
A limit order is used when making purchases, if you do not want to use the market order, you set the price you want to buy or sell at, and once that value is met your order is filled automatically.
You should note that these concepts can have different applications in different contexts.
4465  Other / Meta / Re: [Request] moderator for reputation board on: May 25, 2020, 08:51:36 PM
I cannot comment on the efficiency of moderators in the reputation board, but the objective of a self-moderated board would be to moderate your thread yourself, setting your own specific local rules which may not allign with the modus operandi of forum moderators, and as such it's hardly expected they'll enforce such rules.
4466  Economy / Economics / Re: Cryptocurrency adoption in Africa on: May 25, 2020, 04:31:18 PM
If the world's attitude towards Africa changed, then positive changes would come quickly - but some will try to delay it as much as possible.
I agree with this, the perception of Africa which is shown to the rest of the world is an inhibiting factor to the growth of the continent. The effect of the media is prevalent and influences the decision of investors. With more concerted effort from he privileged ones, the image of Africa as a high risk area can change and more potential stakeholders would begin to see the potential the continent holds.
4467  Other / Beginners & Help / Re: How to Differentiate Between Trader and Investor on: May 25, 2020, 01:22:06 PM
In most cases, yes. Lenght of holding in the major difference between investors and traders.
But then I guess an investor could be considered a trader as well, based solely on their actions: they buy and they sell, right? They could buy for their retirement portfolio or .. they could buy now and tomorrow, if BTC dips to $5k, they might sell out of fear. Why do you think there's not much of a difference them?
I agree, that's the reason I included in my initial reply, that this checks out in most cases. In the end everyone wants profits, if I invest in Bitcoin and set a target of 20% ROI, if that hits in 24 hours, I can take profit from my investment, without having to wait for a long time.

I'd take it another way to differentiate the two: traders follow charts, investors follow potential.
This also checks out in most cases, traders can sometimes get involved with potential or the fundamental analysis of a currency they're interested in trading, this could be a news or update on the project which could have a direct impact on the market price.

Investors also can consider charts, or technical analysis when putting their capital into a currency. This could be used to determine the best time to buy, which ideally is the bottom price. For example, if I plan on investing in BTC, and use technical analysis to predict a drop in the coming days, I could hold on my investment and try to catch the dip, to maximize my potential profit.
I can say that there is sometimes an overlap in both concepts.
4468  Economy / Economics / Re: Cryptocurrency adoption in Africa on: May 25, 2020, 12:59:18 PM
That being said, for this "adoption" thing, I don't really see any concrete data to see whether using PC or phone affect the chances of user adopting cryptocurrency in their life.
There is no guarantee that the penetration of digital devices would increase adoption of cryptocurrency, but the lack of it surely limits it. Cryptocurrencies are built on the blockchain technology, which can only be accessed through the Internet and hence the larger the spread of PC's and smartphones the more people are able to utilize it.

Africa has a lot of potential and I think many people see it, in many countries in Africa most are using cashless transaction to transfer the money because there is still a considerable crime rate there, with that idea in mind.
Africa does not have a high crime rate relative to other continents. The ease of cashless transaction is the primary motivation behind it's spread globally.

One of the main problems can be in lack of number of PCs in Africa. Yes, crypto available on android phones, but a lot of important features available on PC only
Cryptocurrencies can be easily accessed through a mobile device, without the need for a PC. This doesn't really pose a problem to its adoption and usage
4469  Other / Beginners & Help / Re: How to Differentiate Between Trader and Investor on: May 25, 2020, 10:12:16 AM
But what I personally see to be the major difference between the crypto investor and trader is the length of coin holding of the two. While investor is in for the long term, the trader is in for the short term.
In most cases, yes. Lenght of holding in the major difference between investors and traders. They also view their assets differently, if there is an arbitrage opportunity in a currency a trader can quickly take it up without trusting the fundamentals of it but simply understanding the technical aspects, an investor however only puts their capital into a currency they trust has the potential for ROI, deep technical knowledge is not a prerequisite.
Also an investor is dependent on the growth of the currency, a trader however can profit from the growth, fall or difference in price across exchanges.
4470  Economy / Gambling discussion / Re: Germany League - Bundesliga Prediction Thread on: May 25, 2020, 10:00:07 AM
1X or both to score & over 2.5 will be my pick for this match
This is a big match and at quite an important point in the season, while both teams are free scoring and have lots of players that can possibly a threat, I expect a cagey match, with no one wanting to make a mistake that could potentially decide the title, as such I expect a low scoring match, Under 2.5 goals possibly.
There should however be no shortage of goals in the other fixtures scheduled for tomorrow.
4471  Economy / Economics / Cryptocurrency adoption in Africa on: May 25, 2020, 09:44:37 AM
The adoption of cryptocurrency is growing worldwide and Africa sticks out as the continent is showing lots of interest in it. Crisis is looming in many economies and cryptocurrency offers an alternative for individuals looking to hedge their funds, or an investment venture.

Over the years, I had highlighted lack of accessibility and negative sentiments as the two main barriers to the growth of cryptocurrency in Africa, however it seems that these hurdles are slowly being crossed;
Accessibility: Cryptocurrency is a digital currency and as such it needs to be operated through a digital device. Internet penetration in Africa is growing and with it is the usage and adoption of digital currencies
.

An estimated 420 million people own a mobile device in Africa, with a population of ~1.2 billion, this means about 35% of the entire population have access to mobile devices, smartphone usage is also spreading, as an estimated 60% of the continent has access to 3G network, and 4G usage is equally growing. All this metrics point to a potential rise in cryptocurrency adoption as is evident in recent statistics;
Africans rank atop global cryptocurrency ownership rates, according to a new report by Arcade Research. South Africa ranks third globally with 13% of its internet users owning or using cryptocurrencies, while 11% of connected Nigerians own cryptocurrencies in the fifth-placed populous West African country
With a teeming youthful population, 60% of the continent below 25, gradual growth in digitalization and developing economies, Africa has a plenty of potential to become a major driver of cryptocurrency adoption.
It's however still limited by negative sentiments. Citizens and governments are reluctant to embrace cryptocurrencies, the former a result of the latter. Centralized organizations like the gov't and banks touts cryptocurrenciea tout Bitcoin to be high risk and vulnerable, and with so many uncertainties in the continent, the people are not willing to add their funds to the list. This however is expected to change as quick access to information grows and more open discussions about blockchain and digital assets are had. Big industries like binance are also utilizing the potential in Africa and this would have a positive effect on adoption.
4472  Other / Beginners & Help / Re: Help transferring funds on: May 24, 2020, 09:41:17 PM
I tried transferring $100 to to another wallet using the rate 1 USD TO 0.000112 bitcoin
Is this the current price of Bitcoin at the time you made the transfer? Using the value on CMC, 0.000112BTC gives roughly 1 USD.

You should give more details of the transaction. Note that only unspent outputs can be spent in a transaction, and if you use all of it i.e smcreate a transaction with your maximum balance, there would be nothing left for the transaction fee which is added to the entire transaction. This could be why you get an insufficient fund message.
Try adjusting the transaction to include the fees.
4473  Other / Beginners & Help / Re: Shabby introductory post won't help on: May 24, 2020, 02:55:59 PM
Slightly off topic ~ We sure have been seeing a lot of introductory threads of recent, and while some of them may be of alt accounts, I also think Bitcoin has been gaining more traction in the past few weeks, before and after the halving and this means more people are getting interested in it.
A quick glance through the stats page - https://bitcointalk.org/index.php?action=stats shows a rise in the number of new members throughout the year 2017, which was the year we saw the all time high, I'm being bullish, but maybe we could be warming up for a spike in the coming months.

As regards the shabby first posts, it cannot really be avoided, users are introduce time the forum ways and have different ideas if what goes on here. This is reflected in the content of their posts; merit, bounty et al. Having a welcome message would be effective in pointing forum members in the right direction.
4474  Economy / Gambling discussion / Re: Football Transfers Speculation, Odds and Predictions on: May 24, 2020, 12:44:02 PM
Gotze has had a lot of injuries, he’s peaked already. I wouldn’t want to see my club sign him, he hasn’t been a top tier player for a long time now.
I don't know which team you support, but if it's a title contending one, then, signing Gotze would do little to boost the squad, and most top clubs like to make a statement with their signings.
All these would be a factor in the transfer should a club make a move for him. His age, fitness, form would all be considered and would affect the salary he gets. Playing under a new coach in a new environment could also be a spark to revive his career.
4475  Economy / Economics / Re: What online service / product would you buy in this recession ? on: May 24, 2020, 12:34:55 PM
The only crypto i would invest in is :
2.The coin must behave like a fiat , like when you give fiat to someone that transaction is not recorded and should stay anonymous...
...
4.ZERO transfer fees ,when you give fiat to someone ,nobody asks you any fee in real life
I'm interested in this points as they draw attention to fiat;
1) Fiat transactions are recorded and are not anonymous. You should indicate the distinction that this occurs when exchanging physical cash. The society however is becoming more digitalized, so majority of transactions are done using digital devices and are recorded.

2)Again, this only applies when exchanging physical cash. There are many cryptocurrencies which offers lower transaction fees. Bitcoin does not lead in this area, but if you want reduced fee in BTC, you can use a segwit address.
4476  Economy / Economics / Re: @GoldmanSachs:“Implications of Current Policies for Inflation, Gold and Bitcoin" on: May 24, 2020, 08:18:19 AM
I came across a picture that depicts the change in stance within ~2 years

I can't verify the source or when it was created but it should have been sometime last week.
Bitcoin needs more adoption and discussions about it. I organya webinar on bitcoin and blockchain some weeks back and realized that a lot of people have the wrong idea about it, even through they know so little of it.
4477  Other / Beginners & Help / Re: Importance of use forum PM during make a financial deal. on: May 24, 2020, 07:50:10 AM
P.S. obviously there's less/weaker proof in case of scam.
True, PM can't be verified by other forum members and screenshots can be manipulated. The admins can read private conversations, but IIRC theymos does not like that practice, so it would be quite a hassle to prove the scam.
Combining both private and public conversations looks like the best alternative, possibly the first contact and the final decision should be made public, the hassles of negotiations should be done in private imo.
4478  Other / Beginners & Help / Re: Importance of use forum PM during make a financial deal. on: May 23, 2020, 09:01:46 PM
Why not doing that publicly? It's the best way to be safe. You have indisputable proofs in case of scam.
Some private information gets shared during a trade, and the parties involved may not want this to be public knowledge, it could also lead to threads getting derailed if all the negotiations are done publicly.

But I have a question, what are the common rates of escrows?
This is a good thread on the list of escrow services: Recommend bitcointalk escrow services. The thread has not been updated for a while so do your research on their individual ANN threads.
Note that despite the title name, the forum does not recommend any escrow service nor does it regulate them. DYOR.
4479  Economy / Gambling discussion / Re: Do online gamblers think about their privacy and anonymity? on: May 23, 2020, 12:26:06 PM
Privacy concerns is not limited to a specific group of users, so you would have online gamblers who care about their data and those who do not.
Privacy is not the only factor to consider, reputation of the site should weigh more. There is a lot of risk that comes with a site which is not trusted or reputable even if they offer registration without the need for KYC.
There's also the case of how much information is required, I used a gambling site recently, which required the smallest of details to allow a withdrawal, no prove to the data provided was requested and I could imagine a lot of users got in with fake identity.
4480  Economy / Economics / Re: What would a Crypto-only economy look like? on: May 23, 2020, 12:11:36 PM
because (and only an example) ethereum is the same for all of us! Smart contracts will be smart contracts, if you wish to be part of it you will have some requirements and everything will be the same for everyone, nothing special for privilege ones with deep pockets

...But crypto can help us in achieving that equality!
Whales exist even in the cryptocurrency space and can still use their purchasing power to sway the currency to their favour, this is not that evident in a currency like Bitcoin with it's high trade volume, but it's a factor that can be exploited, as long as BTC is pegged to fiat, a transition would see those with higher amounts of USD holding the higher amount of whatever currency becomes globally accepted.

The fixed supply of Bitcoin however makes it more appealing as only so much of it can ever be in circulation. This to, would likely become irrelevant should it be used as a staple currency. There would be no incentive to hodl it and through daily use it would eventually trickle into the hands of the drivers of the economy.
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