Africa needs bitcoin, not a charity

[kreatge]

I think a possibility of crypto would ease the life of many africans, this privelege would give a great benefit for them, not talking about the development


The article: https://www.cio.co.ke/africa-needs-bitcoin-not-charity/

[Greyfuel]

but Africans seem just interested by BTC, few of them use the BTC!

https://news.bitcoin.com/why-africa-continues-to-lag-behind-in-cryptocurrency-adoption/

[beatzcoin123]

in this article, i see lot of sense in ray youseff words, bitcoin and crypto currency in general have got lots of untapped potentials in the African market. The major setback is the lack of information, lack of stabble power supply. African countries have got free pass laws that favour crypto, but the information is lacking behind.

[25 and over]

Kind of strange that there would be such a divergence of opinion concerning the utilization of crypto in Africa verses the need for assistance in developing nations.  Naturally Africans need a stable currency to thrive (after-all a destabilized currency causes hyperinflation and that is the last thing an already fragile economy would want).  Infrastructure in the form of roads and rail together with clean drinking water and energy supply are all needed, but sadly more and more examples are arising where people in remote areas are connecting to the outside world with cheep phones and even cheaper cell phone plans.

It will be interesting how the introduction of Facebook's dedicated crypto currency into the mixture will affect the use or otherwise of both bitcoin and their in-house Libra token.

[OmegaStarScream]

It really depends to which part you're referring to. If we take North African countries such as Algeria, Morocco, Tunisia, etc. then bitcoin is already being widely used and also definitely needed.

If you are talking about some parts of Africa where people don't even know how to eat, I'm sorry to say, but personally, I wouldn't be interested in hearing about BTC. You should know that these people are not educated, and even though it's easy to say that the price will skyrocket, etc. they simply can't afford the risk and the price's volatility.

[bobytobby]

Cryptocurrency is not so massive yet, because people just don’t know how to work with it. I think that cryptocurrencies could be a good way to promote young talented developers. That is why people need to be given access to cryptocurrency. So you can invest in the development of the country.

[Foxyfell]

Cryptocurrency is not so massive yet, because people just don’t know how to work with it. I think that cryptocurrencies could be a good way to promote young talented developers. That is why people need to be given access to cryptocurrency. So you can invest in the development of the country.

I’m close to the idea that people themselves are able to improve their fictitious status, if given resources. In particular, knowledge of how cryptocurrency and investing in it can help them earn more. This idea is also supported by the platform taklimakan where there are educational materials and you can directly communicate with experienced traders, learn the secrets of trading.

[25 and over]

Cryptocurrency is not so massive yet, because people just don’t know how to work with it. I think that cryptocurrencies could be a good way to promote young talented developers. That is why people need to be given access to cryptocurrency. So you can invest in the development of the country.

But a crypto currency such as bitcoin's volatility would only add misery to an already suffering nation if the price plumeted such as it did recently before returning to more accepted levels.  A villager isn't going to accept that the bitcoin they ammased has suddenly halved in value in the same way fiat deflates via hyperinflation.  They get rid of bitcoin and will be scared off of it for a long, long time.  Build up the nation first and gradually introduce bitcoin to the masses.

[kissme09]

I think a possibility of crypto would ease the life of many africans, this privelege would give a great benefit for them, not talking about the development


The article: https://www.cio.co.ke/africa-needs-bitcoin-not-charity/

Why do you think Bitcoin can help the poor in Africa have a better life? Wealthy investors hold Bitcoin, so how can the poor in Africa own it? I believe Bitcoin cannot change the lives of people in this country, and only the African government can change it.

[zernaloot29]

Blockchain and cryptocurrency is the factor that helps create balance in the world. If wealthy people can afford shares on the stock market, even young people can afford cryptocurrency. Bitcoin is not just a valuable coin, it is an access to the world of realized people, capable of creating something new.

[franky1]

angola's minimum wage $60 a month (/4/40=$0.375 an hour)
kenya minimum wage $130 a month (/4/40=$0.81 an hour)
nigeria  minimum wage $80 a month (/4/40=$0.50 an hour)
mozambique  minimum wage $50 a month (/4/40=$0.31 an hour)

bitcoins tx fee just to move funds costs ~20minutes to 1 hours minimum wage.
many africans learn about bitcoin. find out it isnt suitable and just use it as a gateway into altcoins which are cheaper and more suitable to transact with.

[zernaloot29]

In many countries, international companies for transactions either have very high rates or have limited services. And therefore, decentralized Bitcoin allows you to make transactions with less loss on commissions and restrictions. For many countries, even those that do not have sanctions cryptocurrency can be very useful.

[gccigng]

In many countries, international companies for transactions either have very high rates or have limited services. And therefore, decentralized Bitcoin allows you to make transactions with less loss on commissions and restrictions. For many countries, even those that do not have sanctions cryptocurrency can be very useful.

Can a person achieve financial freedom? Yes, if he has access to cryptocurrencies. Due to the fact that they are decentralized and confidential, they are accessible to any place in the world. What is especially convenient when you need to perform a transaction from abroad

[25 and over]

bitcoins tx fee just to move funds costs ~20minutes to 1 hours minimum wage.
many africans learn about bitcoin. find out it isnt suitable and just use it as a gateway into altcoins which are cheaper and more suitable to transact with.

The same thing will happen in the western world when the price of bitcoin goes about a certain level.  Probably $100,000 (a million?) Hard to say really, but with only 21 million bitcoins the likelihood of everyone owning bitcoins will get further and further beyond the reach of most people.  Altcoins will have their place alongside bitcoin which will act as a clearing house for larger size transactions which is why in Africa bitcoins adoption is unlikely to occure anytime soon.

[Lily_Olive]

Very wrong thinking  well.. bitcoin is a digital assets in form of currency.. its not a charity.. people are thinking  in very wrong way..in Africa people  are using bitcoin for invest their money..

[Deewhy2]

Bitcoin and charity are two different thing.  I just wish bitcoin should be well known in Africa like other countries so as to open Africans eyes that bitcoin is one of the best way to invest their money.

[Kriptonian1661]

Give me 50 BTC and atleast 60% of Africa will own BTC in a timespan of 1 Year. Not to mention other Countries

[Lily_Olive]

angola's minimum wage $60 a month (/4/40=$0.375 an hour)
kenya minimum wage $130 a month (/4/40=$0.81 an hour)
nigeria  minimum wage $80 a month (/4/40=$0.50 an hour)
mozambique  minimum wage $50 a month (/4/40=$0.31 an hour)

bitcoins tx fee just to move funds costs ~20minutes to 1 hours minimum wage.
many africans learn about bitcoin. find out it isnt suitable and just use it as a gateway into altcoins which are cheaper and more suitable to transact with.

Wow grear post.. also informative.. yeah i knw people of africa are using bitcoin..

[sehoon]

Sure bitcoin helps a lot of people. But I don't think it will solve the problem in Africa. Because money is not the only problem in Africa since most of them do not even have access to food and the internet. They still live in a world that is not advanced enough for them to have Bitcoin.

[rosezionjohn]

The major setback is the lack of information,

I don't agree with this. It's more like the lack of interest to learn. Pretty sure, a lot of Africans have access to facebook and other social media where they can learn more about Bitcoin.

lack of stabble power supply.

But then again, we see a lot of airdrop and bounty hunters from Africa.