South Africa vs Bitcoin

[Silentsweeper]

Is it true that South Africans is cashing in on bitcoin?
Do South Africans really makes more money as Bitcoin to ZAR prices as very good?

[kidoseagle0312]

Is it true that South Africans is cashing in on bitcoin?
Do South Africans really makes more money as Bitcoin to ZAR prices as very good?

Maybe it could only be in South Africa, but majority of the country's they loved bitcoin then anywhere in the entire world you will hear about Bitcoin because of its popularity and well established the bitcoin community.

[John Langut]

Did you read the news about president Jacob Zuma resigning over corruption?

South African banks are now switching over to blockchain technology. I hope that will curb corruption and debunk the myth that Bitcoin causes corruption, instead helps solving it!

[belphegory]

No we do not make more money than anyone else in BTC.

Yes it is starting to become known...but not everyone is jumping on the bandwagon.....it is slowly becoming a house hold name.

And EVERYONE is happy Zuma has stepped down.....already there is things in motion to change the status quo.

Regards

[bitart]

If you are really interested on the topic, you can check this thread:
https://bitcointalk.org/index.php?topic=2710325.0
Also, you can ask RodeoX, who opened the linked thread and who's familiar with the topic...

[Kprawn]

I have read somewhere that family of your new President are involved in Crypto currencies. He is working on some ICO in

the USA, but I do not know a lot about it. I think this is him --> https://www.youtube.com/watch?v=z2My-ELpI4c

My friends also informed me that the South African government has started with a project to study the impact of Crypto

currencies on their local economy and how to properly regulate it. You can expect some regulation on Crypto currencies

before the end of this year. Let's hope Tumelo Ramaphosa will help these guys not to over regulate Crypto currencies. If

they can take the same approach as the Japanese government, then the South African economy will get a huge boost.  

[belphegory]

That is not the new president......

This is: https://www.youtube.com/watch?v=q11UYKrFy1Y

Yes of course the government want to get their hands on more money......

Fully half of the financial budget of the country went missing due to "mismanagement of funds".....and now they want to tax honest crypto traders like myself who pay enough damn tax from salaries to electricity and everything in-between.....but that's what the people voted for.

[yoseph]

Is it true that South Africans is cashing in on bitcoin?
Do South Africans really makes more money as Bitcoin to ZAR prices as very good?

South Africa is the cryptocurrency capital of the whole of Africa and the people there are making a lot of money with cryptos and mostly because their utility tariffs are very low.

[budi691]

I think south africa can be a role model on the African continent, should south africa be a bitcoin connector with the African continent. I am sure the passion of cryptocurrency in Africa is very good.

[cryptorampage]

Yeah SA is doing great , Actually 2018 hasn’t really been a great year for cryptocurrency traders so far.  However, despite these controversies and controversial elements, Africa’s Luno - the first cryptocurrency exchange to open up in the continent is confident of their long-term success.
Luno, founded in South Africa in 2013, has plans to become one of the leading cryptocurrency traders in the world.

CEO and founder Marcus Swanepoel has a goal that would leave many bigger companies in the shade: 1 billion customers by 2025.

"There are very few industries in the world for which you could say that is a reachable goal, but because bitcoin is so open and global, it is really an achievable goal. We're excited to pursue it," he said.

And that is the first Bitcoin exchange in South Africa. So Its good for Bitcoin , Good for South Africa , Good For our Future.

[HongKong]

Is it true that South Africans is cashing in on bitcoin?
Do South Africans really makes more money as Bitcoin to ZAR prices as very good?

South Africa is the cryptocurrency capital of the whole of Africa and the people there are making a lot of money with cryptos and mostly because their utility tariffs are very low.

I'd want to go there to travel, if only they were doing discounts on the things people can purchase with Bitcoins. Lol neato..

[belphegory]

Is it true that South Africans is cashing in on bitcoin?
Do South Africans really makes more money as Bitcoin to ZAR prices as very good?

South Africa is the cryptocurrency capital of the whole of Africa and the people there are making a lot of money with cryptos and mostly because their utility tariffs are very low.

I'm sorry......you have to check your facts sir.....

1. SA has one of worlds most expensive telecoms prices....in the world....was 3rd or 2nd most expensive.
2. Electricity used to be cheap....notice that word "used" to be....electricity has gone up over 400% in the last 8-10 years? You can check facts here:http://www.poweroptimal.com/infographic-eskom-tariff-increases-vs-inflation-since-1988-projections-2017/
3. Road tax at tollgates and on petrol is way over normal. (Just look at the E-Toll farce.....)

Its not easy to make money here....average salary is around R3000 to R6000.......to rent a 2 bedroom house will cost you that.....never mind electricity,food,petrol(gas),school fees....need I go on? Please check your facts.

I don't know if you can call us the capital....Nigeria, Botswana also have loads of money......the people I know made have lots of money purely because they got into BTC early....like 2012 early.

Wish I also did 

[DUCAT COIN]

Is it true that South Africans is cashing in on bitcoin?
Do South Africans really makes more money as Bitcoin to ZAR prices as very good?

South Africa is the cryptocurrency capital of the whole of Africa and the people there are making a lot of money with cryptos and mostly because their utility tariffs are very low.

I'm sorry......you have to check your facts sir.....

1. SA has one of worlds most expensive telecoms prices....in the world....was 3rd or 2nd most expensive.
2. Electricity used to be cheap....notice that word "used" to be....electricity has gone up over 400% in the last 8-10 years? You can check facts here:http://www.poweroptimal.com/infographic-eskom-tariff-increases-vs-inflation-since-1988-projections-2017/
3. Road tax at tollgates and on petrol is way over normal. (Just look at the E-Toll farce.....)

Its not easy to make money here....average salary is around R3000 to R6000.......to rent a 2 bedroom house will cost you that.....never mind electricity,food,petrol(gas),school fees....need I go on? Please check your facts.

I don't know if you can call us the capital....Nigeria, Botswana also have loads of money......the people I know made have lots of money purely because they got into BTC early....like 2012 early.

Wish I also did 





[True what he is saying, and on top of that we actually pay a bit more for BTC if you use LUNO to purchase it. Depending on the area you live in a 2 bedroom house can actually cost way more than R6000 to rent.

I doubt that the fact that our president resigned has any impact on BTC here, the RAND will strengthen meaning our BTC is actually worth less as it trades in BTC/USD and BTC/RAND.

When it comes to being the BTC capital of Africa i might agree and if not it soon will be. We are still far behind and a lot of people don't know much about BTC or even that alt coins exist. Listened to a radio conversation where the guy said that there are only 1000 coins available here, which shows you even though they think they know they don't.]

[fattyforhire]

Is it true that South Africans is cashing in on bitcoin?
Do South Africans really makes more money as Bitcoin to ZAR prices as very good?

That's not a logical question. For example, if bitcoin is several times more expensive than ETH, should those people who trade bitcoins make more money? I think you should read the financial literature.

[belphegory]

Is it true that South Africans is cashing in on bitcoin?
Do South Africans really makes more money as Bitcoin to ZAR prices as very good?

South Africa is the cryptocurrency capital of the whole of Africa and the people there are making a lot of money with cryptos and mostly because their utility tariffs are very low.

I'm sorry......you have to check your facts sir.....

1. SA has one of worlds most expensive telecoms prices....in the world....was 3rd or 2nd most expensive.
2. Electricity used to be cheap....notice that word "used" to be....electricity has gone up over 400% in the last 8-10 years? You can check facts here:http://www.poweroptimal.com/infographic-eskom-tariff-increases-vs-inflation-since-1988-projections-2017/
3. Road tax at tollgates and on petrol is way over normal. (Just look at the E-Toll farce.....)

Its not easy to make money here....average salary is around R3000 to R6000.......to rent a 2 bedroom house will cost you that.....never mind electricity,food,petrol(gas),school fees....need I go on? Please check your facts.

I don't know if you can call us the capital....Nigeria, Botswana also have loads of money......the people I know made have lots of money purely because they got into BTC early....like 2012 early.

Wish I also did 

[True what he is saying, and on top of that we actually pay a bit more for BTC if you use LUNO to purchase it. Depending on the area you live in a 2 bedroom house can actually cost way more than R6000 to rent.

I doubt that the fact that our president resigned has any impact on BTC here, the RAND will strengthen meaning our BTC is actually worth less as it trades in BTC/USD and BTC/RAND.

When it comes to being the BTC capital of Africa i might agree and if not it soon will be. We are still far behind and a lot of people don't know much about BTC or even that alt coins exist. Listened to a radio conversation where the guy said that there are only 1000 coins available here, which shows you even though they think they know they don't.]

Yep...thats why I dont use Luno...I use a different one.

Yes of course it costs more in certain areas......I was generalising.....I used to own a flat in Durban and was renting it out and max I could get was R4500 for it....nice two bedroom place in Glenwood....back in 2011-2012...now when I looked at renting a two bedroom place in Glenwood....its R6500 to R8000. Ridiculous!

As I said...its slowly becoming a household name...lots of people have heard of it...but still not entirely sure what its all about. lol @ 1000 coins left....was that Eastcoast or 5FM??
 

[Kakmakr]

South Africa was the "Rainbow" nation until corruption in government nearly destroyed it.

I have to agree with OP, that Bitcoin in South Africa is huge. I recently saw this article, which confirms this :  https://mybroadband.co.za/news/cryptocurrency/244723-south-africans-are-selling-their-cars-for-bitcoin.html

I work in Nigeria on a project for my company at the moment, but I fly to South Africa and then travel through Africa for work. South Africa is definately a mix between first world and third world at the moment and Nigeria is currently the economic hub in Africa. < M-Pesa is huge here >

I hope the change in government <removing a corrupt president> will once again restore South Africa to the nation is was, when Mr. Mandela took over and even before that. < I seriously doubt that >

Bitcoin can make a difference, but the people there must take charge to facilitate these changes.

ps. My profile name was given to me by a South African working with me at our Head Office in my hometown abroad. ^lol^

 

[sashulya7979]

I think Africa is one of the best places in the world for mining bitcoin. It's hot, dry, lack of normal infrastructure. Power outage is a daily occurrence in many parts of the continent, which makes Africa completely unsuitable for mining.

[alyssa85]

Africa's biggest cryptocurrency exchange is located in South Africa:

http://money.cnn.com/2018/02/14/technology/bitcoin-luno-billion-users/index.html

Luno, founded in South Africa in 2013, has plans to become one of the leading cryptocurrency traders in the world.

The company is planning to grow its team of 70 employees to 300 over the next six months.

Swanepoel, a former investment banker, say Luno was the first company in Africa to offer cryptocurrency trading.

It has enjoyed runaway growth since then, and now has 1.5 million customers in 40 countries, mostly emerging markets.

I.5 million customers is not bad.

[MinerOfTheYear]

The most active use of bitcoin in South Africa is its use by investors, as an asset for the storage of funds. It has already been officially confirmed that a significant number of investors and funds allocate part of their portfolio to bitcoin. This allows companies, such as BitX, to provide crypto currency, wallet and bitcoin storage services.

[ShotGun_1993]

BTC can grown all country
I think it can common in 2018