Bitcoin Forum
December 03, 2016, 06:57:14 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: [ARTICLE] Marco Picardi on BTC, from Centre for African Development and Security  (Read 924 times)
BitcoinPorn
Hero Member
*****
Offline Offline

Activity: 560


Posts: 69


View Profile WWW
August 09, 2011, 12:22:37 PM
 #1



Quote
A global currency free from government control that can be used almost untraceably sounds too good to be true. But, the currency Bitcoin is a reality, and it has the potential to transform African finance.

Quote
Bitcoin helps solve many of the existing problems with current methods of sending money home. Money transfer services are efficient, but expensive. Bank transfers can also be expensive whilst suffering a general lack of immediacy and at the same time useless to the millions of Africans without bank accounts. And, sending cash through regular postal services is almost unthinkable.

Bitcoin enables its users to bypass the exorbitant fees charged by banks and wiring services whilst providing a secure, anonymous and most importantly instantaneous service. These factors are clearly positive for the economic and developmental impact of remittance payments as senders freed from the shackles of high administration fees can deliver more money to their loved ones.

Also, the currency could bring heightened security for citizens of countries where poor economic and financial practices have rendered their currencies overly volatile or worse still worthless, such as Zimbabwe.

Full article is at http://www.africanbusinessreview.co.za/money_matters/bitcoin-an-african-finance-revolution

I feel whoever is spamming Africa with the good stuff should let them know that security needs to be beefed up, or at the least they need to invest heavily in personal security education since the way this is written, most people have never used a bank.  Still an awesome, interesting, article.

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480748234
Hero Member
*
Offline Offline

Posts: 1480748234

View Profile Personal Message (Offline)

Ignore
1480748234
Reply with quote  #2

1480748234
Report to moderator
1480748234
Hero Member
*
Offline Offline

Posts: 1480748234

View Profile Personal Message (Offline)

Ignore
1480748234
Reply with quote  #2

1480748234
Report to moderator
1480748234
Hero Member
*
Offline Offline

Posts: 1480748234

View Profile Personal Message (Offline)

Ignore
1480748234
Reply with quote  #2

1480748234
Report to moderator
westkybitcoins
Legendary
*
Offline Offline

Activity: 980

Firstbits: Compromised. Thanks, Android!


View Profile
August 09, 2011, 12:46:37 PM
 #2

It would be great to see bitcoins take off in Africa. Being freed from the bankers' debt controls would be quite a triumph for the continent.

And if most Africans have never used a bank, I'm confident they'll do much better than us "first-world" folks in keeping hold of their bitcoins and avoiding scammers.

Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
...
...
In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber
...
...
ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)
...
...
The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
guywhogotgoxed
Jr. Member
*
Offline Offline

Activity: 59


View Profile
August 09, 2011, 01:21:21 PM
 #3

Atleast people will learn from the mistakes of those before them. Or, we can hope they do.

The bitcoin client really needs some encryption and a welcoming pdf that opens up automatically, with some basic information on where the wallet is, how to encrypt it, and perhaps functions like loading a wallet from a USB stick. I encrypt my files manually but know for a fact that most generation myspace/facebook people arent doing this.

On topic: the exchange rate of btc/usd is being manipulated by traders on mtgox. why would anyone have their savings in btc?
error
Hero Member
*****
Offline Offline

Activity: 574



View Profile
August 09, 2011, 06:36:24 PM
 #4

It would be great to see bitcoins take off in Africa. Being freed from the bankers' debt controls would be quite a triumph for the continent.

And if most Africans have never used a bank, I'm confident they'll do much better than us "first-world" folks in keeping hold of their bitcoins and avoiding scammers.

QFT. Personal responsibility is a lost art here in the "first world" which is probably the primary reason why so many people get scammed, lose their coins, etc. But in the "third world" it's the difference between life and death, literally. I suspect Bitcoin's introduction into Africa will be much smoother for this reason alone.

15UFyv6kfWgq83Pp3yhXPr8rknv9m6581W
foggyb
Legendary
*
Offline Offline

Activity: 1302


View Profile
August 09, 2011, 06:45:58 PM
 #5

......... most people have never used a bank. 


that statement is referring to most people of African nations, yes?

This is a short-cut to mass adoption Too many bit-coiners around here think every site that pops up is as trustworthy as their bank. Africans won't need to unlearn that.
BitcoinPorn
Hero Member
*****
Offline Offline

Activity: 560


Posts: 69


View Profile WWW
August 09, 2011, 08:24:01 PM
 #6

QFT. Personal responsibility is a lost art here in the "first world" which is probably the primary reason why so many people get scammed, lose their coins, etc. But in the "third world" it's the difference between life and death, literally. I suspect Bitcoin's introduction into Africa will be much smoother for this reason alone.
I hope so, I like that point.

BitcoinBabe
Member
**
Offline Offline

Activity: 84


Side-stepping the matrix | Bit by bit


View Profile WWW
August 10, 2011, 01:56:24 AM
 #7


The bitcoin client really needs some encryption and a welcoming pdf that opens up automatically, with some basic information on where the wallet is, how to encrypt it, and perhaps functions like loading a wallet from a USB stick. I encrypt my files manually but know for a fact that most generation myspace/facebook people arent doing this.


Chances are that most people across Africa will be using mobile phones to access their bitcoins and the web, not laptops or PCs.

Just as most Africans by-passed owning a landline and went directly to owning a mobile phone, most of them have also never owned a laptop or PC before getting access to the web via their phones, and probably never will.

Also, with many Africans (particularly in Kenya and other parts of East Africa) already used to mobile phone payment systems like MPESA, bitcoin could take off quite significantly and spread more rapidly throughout the African continent than in Western countries.

defxor
Hero Member
*****
Offline Offline

Activity: 530


View Profile
August 10, 2011, 10:32:34 AM
 #8

Chances are that most people across Africa will be using mobile phones to access their bitcoins and the web, not laptops or PCs.

Just as most Africans by-passed owning a landline and went directly to owning a mobile phone, most of them have also never owned a laptop or PC before getting access to the web via their phones, and probably never will.

Also, with many Africans (particularly in Kenya and other parts of East Africa) already used to mobile phone payment systems like MPESA, bitcoin could take off quite significantly and spread more rapidly throughout the African continent than in Western countries.

Exactly. Devs who want to contribute to the success of Bitcoin need to put their effort into the BitCoinJ library rather than the Satoshi client.

http://code.google.com/p/bitcoinj/
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!