Bitcoin and Africa

[stompix]

It's hard for me to imagine that in Africa, crypto currencies may soon develop. In many more developed countries, little is known about bitcoin. It seems to me that this country is not ready for bitcoin

It seems to me that you're talking rubbish.

Country? Africa is a continent, if you're talking about Africa a a country I suggest that before saying anything else or giving advice you start learning a bit about the outside world.
Let's make it this way: Geography then Economics.

I think people in Africa will love the concept of bitcoins. If something new and unknown but trusted and popular is being introduced then it will surely be embraced by population. Africa would embrace it positively because local currency there is cheap and if bitcoin is introduced then people will earn more money. Holding one bitcoin would be like holding a 8 figures of salary in Africa due to it's trade volume in Africa. Believe it or not you can read about it and do some math to know more. 

I'm at a loss when you say unknown and trusted.
How can you trust something unknown?

Africa would embrace it positively because local currency there is cheap

Local currency is cheap...
What the hell are you talking about? This makes no sense. 1 usd is cheaper than 1 euro which is cheaper than a gbp ... so???

Holding one bitcoin would be like holding a 8 figures of salary in Africa due to it's trade volume in Africa

Trading volume which is 0.

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[Snorek]

I think people in Africa will love the concept of bitcoins. If something new and unknown but trusted and popular is being introduced then it will surely be embraced by population. Africa would embrace it positively because local currency there is cheap and if bitcoin is introduced then people will earn more money. Holding one bitcoin would be like holding a 8 figures of salary in Africa due to it's trade volume in Africa. Believe it or not you can read about it and do some math to know more. 

With all due respect to you sir, but I have to say that you are out od your mind.
People in Africa would love the concept of some idea which would allow them have food available and water supply, without big problem and bitcoinis not the way to achieve that.

Africa needs to be more developed to at least get closer to the point, where the people will grasp the idea that they do not have to labor to earn money, that it is possible to be satisfied with your salary that is fully paid virtually.

Lets be serious, they cannot even fix the issue of HIV, because they dont give a damn about condoms.
You want to introduce bitcoin to them? Feel free, no one will stop you.

aTriz, you shared a good points. Africa needs (at least the undeveloped part of it) to first achieve stability, education, water, standard economic growth.
Bitcoin is still, and probably will be for a long time, a luxury. It is not necessary needed nor helpful in your daily activities, it is a rich men's toy.
It is an empty dream if you want to introduce BTC to battle poverty in Africa...

[Pettuh4]

Nigeria, Ghana and southafrica are the biggest users if Bitcoin in Africa and do if these African super power nations are spearheading the usage of this cryptocurrency then I have no doubt the rest of Africa will embrace it and Bitcoin is bent on going places to help us all.

[Sled]

Africa can truly embrace bitcoin because it can help them to earn money easily by just doing like our common work which is signature campaign and it will be easier to them to grow their money because if they just invest in bitcoin and hold them for about a year then it will double their money and they earn money easily and it will help them to avoid corruption in africa because bitcoin is decentralized and no one control it so it will be a huge help for them.

[Sithara007]

Nigeria, Ghana and southafrica are the biggest users if Bitcoin in Africa and do if these African super power nations are spearheading the usage of this cryptocurrency then I have no doubt the rest of Africa will embrace it and Bitcoin is bent on going places to help us all.

Kenya is another major user, but even in these nations the total number of users hardly exceed 1,000. The tie-up with MPesa has not worked as expected. There is a long way to go, and we can only hope that Bitcoin will become popular in Africa.

[JosNekoKopa]

You're actually comparing European countries to Africa?
Human rights?...

Not comparing just saying they are way far from modern way of life, and to talk about Bitcoin in Africa in global is very sad, when we all know how they are living there! Maybe few regions are more developed and using Bitcoin wich is good. But for me when someone talks about African people and prosparity (Bitcoin) first thought is presented with previous pricture i have posted.

[Vyki00]

You're actually comparing European countries to Africa?
Human rights?...

Not comparing just saying they are way far from modern way of life, and to talk about Bitcoin in Africa in global is very sad, when we all know how they are living there! Maybe few regions are more developed and using Bitcoin wich is good. But for me when someone talks about African people and prosparity (Bitcoin) first thought is presented with previous pricture i have posted.

Bitcoin in Africa can be. But only in rich families. People who are financially literate. And there are everywhere, Africa is no exception. Access to bitcoin is at all, and some are ready to use this chance

[stompix]

You're actually comparing European countries to Africa?
Human rights?...

Not comparing just saying they are way far from modern way of life, and to talk about Bitcoin in Africa in global is very sad, when we all know how they are living there! Maybe few regions are more developed and using Bitcoin wich is good. But for me when someone talks about African people and prosparity (Bitcoin) first thought is presented with previous pricture i have posted.

Reallly?
I've asked in the past of proofs but care to share with me those regions where bitcoin is used?
And not by a guy who sell hyenas hot dogs.

A major exchanger in Africa?
Something other than having 6 guys in the whole of Nigeria trading bitcoins?

[posternat]

Nigeria, Ghana and southafrica are the biggest users if Bitcoin in Africa and do if these African super power nations are spearheading the usage of this cryptocurrency then I have no doubt the rest of Africa will embrace it and Bitcoin is bent on going places to help us all.

Africa can easily become the world biggest bitcoin market. Already Nigeria is one the top nations where many users are using bitcoins. Need a little promotion and it will spread to whole of Africa.

[hankyulpark]

Every country where the national fiat currency is in bad shape (and all the economy sinking in the process) is a potential candidate to have a huge BTC adoption. It has happened in Argentina, Venezuela and several countries in Africa. But, with the economy falling apart, to have BTC is helpful in any way?

[bitbunnny]

I would agree with some users here saying that big and relatively poor countries are good potential markets for Bitcoins and its biger adoption. Because if poor condtions people often search for alternatives and Bitcoin could be one of that.
But for biger adoption in Africa and elsewhere we should increase the knowledge about Bitcoin and how to use it and better access to Internet and new technologies for such people.

[stompix]

Nigeria, Ghana and southafrica are the biggest users if Bitcoin in Africa and do if these African super power nations are spearheading the usage of this cryptocurrency then I have no doubt the rest of Africa will embrace it and Bitcoin is bent on going places to help us all.

Africa can easily become the world biggest bitcoin market. Already Nigeria is one the top nations where many users are using bitcoins. Need a little promotion and it will spread to whole of Africa.

Yeah? Andy data to back this claims?

Every country where the national fiat currency is in bad shape (and all the economy sinking in the process) is a potential candidate to have a huge BTC adoption. It has happened in Argentina, Venezuela and several countries in Africa. But, with the economy falling apart, to have BTC is helpful in any way?

Since you claim it has happened in Venezuela and people are still hunting for stray dogs and cats alongside flamingos I guess it didn't do ...

I would agree with some users here saying that big and relatively poor countries are good potential markets for Bitcoins and its biger adoption. Because if poor condtions people often search for alternatives and Bitcoin could be one of that.
But for biger adoption in Africa and elsewhere we should increase the knowledge about Bitcoin and how to use it and better access to Internet and new technologies for such people.

That is actually false.
Most poor people who have endured for a longer period of time are quite reticent to change because they are afraid of losing even the little they have.

[Betwrong]

You're actually comparing European countries to Africa?
Human rights?...

Not comparing just saying they are way far from modern way of life, and to talk about Bitcoin in Africa in global is very sad, when we all know how they are living there! Maybe few regions are more developed and using Bitcoin wich is good. But for me when someone talks about African people and prosparity (Bitcoin) first thought is presented with previous pricture i have posted.

Reallly?
I've asked in the past of proofs but care to share with me those regions where bitcoin is used?
And not by a guy who sell hyenas hot dogs.

A major exchanger in Africa?
Something other than having 6 guys in the whole of Nigeria trading bitcoins?

I agree with you that European countries shouldn't be even compared with Africa in terms of human rights and regarding social standards of living, but not all the areas of Africa are so undeveloped as we might think. There are over 300 million Internet users in Africa and Bitcoin is already used by businessmen in Kenya, Uganda, Tanzania, Nigeria, the Democratic Republic of Congo  and South Africa. You can read more on this from the link below:

http://edition.cnn.com/2016/12/23/africa/bitcoin-startup-africa/

[d-trixx]

Nigeria, Ghana and southafrica are the biggest users if Bitcoin in Africa and do if these African super power nations are spearheading the usage of this cryptocurrency then I have no doubt the rest of Africa will embrace it and Bitcoin is bent on going places to help us all.

Africa can easily become the world biggest bitcoin market. Already Nigeria is one the top nations where many users are using bitcoins. Need a little promotion and it will spread to whole of Africa.

Yeah? Andy data to back this claims?

Every country where the national fiat currency is in bad shape (and all the economy sinking in the process) is a potential candidate to have a huge BTC adoption. It has happened in Argentina, Venezuela and several countries in Africa. But, with the economy falling apart, to have BTC is helpful in any way?

Since you claim it has happened in Venezuela and people are still hunting for stray dogs and cats alongside flamingos I guess it didn't do ...

I would agree with some users here saying that big and relatively poor countries are good potential markets for Bitcoins and its biger adoption. Because if poor condtions people often search for alternatives and Bitcoin could be one of that.
But for biger adoption in Africa and elsewhere we should increase the knowledge about Bitcoin and how to use it and better access to Internet and new technologies for such people.

That is actually false.
Most poor people who have endured for a longer period of time are quite reticent to change because they are afraid of losing even the little they have.

Yes, most of them do. But there are those who are willing to risk everything that they have and escape from poverty. Then, when they become rich, they all envy and say that they are lucky.
I believe that bitcoin can develop in Africa. But not massively

[JosNekoKopa]

I've asked in the past of proofs but care to share with me those regions where bitcoin is used?
A major exchanger in Africa?
Something other than having 6 guys in the whole of Nigeria trading bitcoins?

https://www.bitpesa.co/register
https://www.youtube.com/watch?v=OulBAJweuzQ
https://www.youtube.com/watch?v=ENkRRYw8P_8

Bitcoins- Interview with BitPesa CEO, Elizabeth Rossiello
https://www.youtube.com/watch?v=lIfNNPgPJeA

http://edition.cnn.com/2016/12/23/africa/bitcoin-startup-africa/

At least US students from Kenya will send their money back home using those services, and this is start.
But this is far far from the real World, and poor will stay poor for a long time, Bitcoin cannot change this truth!

[d5000]

Most poor people who have endured for a longer period of time are quite reticent to change because they are afraid of losing even the little they have.

That is actually the point. If we want mass adoption - be it in Africa or elsewhere - we must develop mechanisms that lower the volatility risk. Poor people simply can't afford to lose even 10 or 20% of their monthly income (and Bitcoin can do worse, as we all know). Until that problem is not solved, Bitcoin will be only play money for the elite and upper middle class of African countries.

I think for Bitcoin being adopted by the masses in Africa and other poorer regions of the world, we need two things:
- a low-fee micropayment platform (perhaps Lightning)
- a CFD-like mechanism which allows people to save money on a Bitcoin-based "stablecoin" (similar to what Bitshares does). This should be possible with Rootstock (which is about to start in a month or two) or with altcoins like Bitshares, Ethereum or Qora (the tech is already available but only Bitshares has a working implementation).

[bajing]

Hope this will give me a clear understanding of the direction that Africa should take in embracing Bitcoin. If the answer is positive will inquire about how Africa can adopt cryptocurrency.

You think people who live in africa do not know the digital currency, they already know digital currency like paypal, nettler, skrill, etc maybe a little bit already knows a lot about bitcoin and i'm pretty sure bad news about bitcoin in Spread by the media they have heard but only a small part who knows the potential of bitcoin.

[jayc89]

Hope this will give me a clear understanding of the direction that Africa should take in embracing Bitcoin. If the answer is positive will inquire about how Africa can adopt cryptocurrency.

You think people who live in africa do not know the digital currency, they already know digital currency like paypal, nettler, skrill, etc maybe a little bit already knows a lot about bitcoin and i'm pretty sure bad news about bitcoin in Spread by the media they have heard but only a small part who knows the potential of bitcoin.

Right, people in Africa is not that poor like how the media tries to portray it is. People in Africa use various smartphones and other technology that is not that expensive and send payments digitally without any issues.

[uneng]

The problem is that people there don't have jobs and infrastructure to create jobs. Without jobs there isn't money and without money there isn't bitcoins. I don't know if media is luring us about Africa, but all I see is a lot of poor persons doing nothing all day long,
Just waiting the help of other countrie's ongs to give them supplies. No money circulating there, maybe only circulating on their dictators hands.

[Malsetid]

Parts of africa certainly may, but a large part i think won't. Of course this dorsn't only apply to africa as there are parts of the world also that has limited access to modern tech or internet connection. In africa, i think illegal businesses would be one of the first to embrace btc because of it's anonymity. Like poachers and drug syndicates. These are mostly the ones who do transactions with other countries illegally