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Author Topic: South Africa has a huge potential  (Read 191 times)
brawdias
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May 14, 2018, 01:51:36 PM
 #1

I am very excited about those numbers, and the fact that they are already accepting crypto payments there Smiley

https://www.ccn.com/47-of-south-africans-plan-to-invest-in-cryptocurrencies/
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May 14, 2018, 01:55:51 PM
 #2

This is great news! Half of the population is a huge number, but I don’t trust surveys that much. Nevertheless, if the survey says 47%, I’m sure it will be an important percentage of the population.
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May 14, 2018, 02:05:53 PM
 #3

I do have many south african friends who are in to crypto and they are into multiple crypto programs . cyrpto currencies trading is legal in south africa.
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May 14, 2018, 02:24:33 PM
 #4

South Africa has a huge potential ; it is true statement but I would like to add that not only South Africa but entire Africa has huge potential.  At present most of the people are using Bank currency and slowly are being diverted towards the usage of digital currency.  As more and more people will use digital currency; they they will know about crypto and will definitely start using crypto too because of the benefits of using crypto.
Also I would like to add that Asia, Latin America also have much potential.

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May 14, 2018, 02:29:59 PM
 #5

From the survey, it is clear South Africans are already embracing digital currencies though sometimes these survey might not be the true reflection of how things are there. I know gradually digital currencies will be accepted in other African countries and the world at large, this is the technology that no one can hold back.
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May 14, 2018, 02:30:08 PM
 #6

I've spoken to a few South Africans before about Bitcoins, and it seems that the general consensus is that they can earn more than minimum wage in Bitcoin just, because they aren't suppressed by their local pay brackets. This seems to be a common thing too that poorer areas are much more likely to be involved in Bitcoin, because they see it as a way to bypass traditional limits.

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May 14, 2018, 02:35:05 PM
 #7

I am very excited about those numbers, and the fact that they are already accepting crypto payments there Smiley

https://www.ccn.com/47-of-south-africans-plan-to-invest-in-cryptocurrencies/

As what I have thinking before that Bitcoin is for all, it depends upon the government how they adopt and accept of Bitcoin to the government become benefited taxes generated from bitcoin. The problem of those who are not accepting for legalization of Bitcoin is only for the people who have thier self interest not to become progressive economic growth of government. I'm very happy for that good news to the people of South Africa are aware and some of them are accepting payment from bitcoin.
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May 14, 2018, 02:44:39 PM
 #8

I do have many south african friends who are in to crypto and they are into multiple crypto programs . cyrpto currencies trading is legal in south africa.
Cryptos are becoming a very big deal to many young Africans who are trying to find ways to escape poverty in their lives. South Africa, Nigeria and Ghana are leading when it comes to crypto related business.



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Rainbot
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May 14, 2018, 02:53:36 PM
 #9

Their infrastructure does not catch up with our level in order to fully participate in the crypto world, but only a few people who can afford the Internet and the computer participate.
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May 14, 2018, 02:55:35 PM
 #10

I am very excited about those numbers, and the fact that they are already accepting crypto payments there Smiley

https://www.ccn.com/47-of-south-africans-plan-to-invest-in-cryptocurrencies/

i doubt that will work long, i mean tons of propaganda coins...

how long does a population stay that stupid working for those, why not just join making your own.

sooner or later we will get tower of babel here.

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May 14, 2018, 03:18:09 PM
 #11

If most of them are starting to accept Bitcoin rather than dollars or their Fiat I think this will help on a huge development of Bitcoin by the African people.
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May 14, 2018, 04:31:29 PM
 #12

I am very excited about those numbers, and the fact that they are already accepting crypto payments there Smiley

https://www.ccn.com/47-of-south-africans-plan-to-invest-in-cryptocurrencies/

47% is a whole lot of figure to consider which would make a difference but unfortunately, the article did not state the total number of the tested population which is something that is key here before anyone can begin to rejoice. The total population of South Africa is 57,398,421 which is 0.75% of the world population which means if the whole of the population should choose to invest in crypto, it still does not change anything as the effect would't be felt and we all know there is no way the whole of the population could have completed that survey.

In addition, surveys cannot be totally relied upon because of several factors such as the category of people being asked, the type of questions whether its leading question or not, there is also the issue of incentive that might be involved which would influence the decision of the respondents. But in all, the fact that they plan to, does not mean they would be willing to if they have the opportunity as the action is what really makes the difference.

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May 14, 2018, 04:41:14 PM
 #13

Assuming the survey is reliable and is indeed representative of the population...
Hopefully other countries would also see the potential. I'd like to see a world where bitcoin could really help out the poor. Plus maybe new kinds of tools would be developed for the less technological savvy people.

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May 14, 2018, 06:10:46 PM
 #14

Those figures are astonishing. South Africa definitely has a huge potential. But it is kind of a poor country. So even though many people want to invest in bitcoin, they don't really have much money.

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May 14, 2018, 06:24:20 PM
 #15

This is wonderful news! After all, South Africa crowded and there are a lot of talented people who can bring in Kriptomir many ideas and novelties!

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May 14, 2018, 06:46:40 PM
 #16

South africa has big boom on crypto market as people are moving positive towards crypto world and they are educating other people in the country to make use of it to earn in smart way.South africa is emerging in crypto world.
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May 14, 2018, 06:55:43 PM
 #17

Even in South Africa people understand how Crypto market is important. I regret, that Western Europe, does not.

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May 14, 2018, 07:52:34 PM
 #18

They are most welcome. But because of sophisticated economy, it would be better if they invest slowly. Even if they have not sufficient market experience, they should work on it. If they lose their first impression, it would be worst for the whole industry.
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May 14, 2018, 07:55:44 PM
 #19

Highly doubt this number is even close to true, you have to think of where this data is coming from. Of course, from a pro crypto website, they're going to try to promote clickbaity headlines, like this one, in order to get people to go to the site itself. Yeah, maybe some people will go ahead and invest in crypto (like in all countries during runups in crypto)

But there is no way that 1 in 2 people are going to get in on it. That's insane to think about. The data is obviously BS.
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May 14, 2018, 07:59:38 PM
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Highly doubt this number is even close to true, you have to think of where this data is coming from. Of course, from a pro crypto website, they're going to try to promote clickbaity headlines, like this one, in order to get people to go to the site itself. Yeah, maybe some people will go ahead and invest in crypto (like in all countries during runups in crypto)

But there is no way that 1 in 2 people are going to get in on it. That's insane to think about. The data is obviously BS.

Almost all data that you come across will be to some extent inaccurate. Data also depends on the amount of people they actually took the data off. Obviously the more the better and closer percentage you get.

50% isn't to unrealistic if you think about it and if it's conducted in a city where there's more wealthy people then your likely to have more investors.

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