Africa - Hidden Treasure for the world and bitcoin

[hulla]

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

From what I learned about most African nation is that the problem of the unemployment and poverty level there despite their land been rich with mineral resources was bad government cause things there was better when they are still under the British colonialism. I'm saying this cause I don't support the part of you saying neither government benefitted from their natural reserve. But, if their government endorse bitcoin people will be financial free and their country economic will grow which is what happen in Zimbabwe before their government ban crypto and exchange.

[hatshepsut93]

What does Bitcoin have to do with any of it? Do you think if citizens and government would start accepting Bitcoin, then suddenly all the corruption, wars, inequality would go away? Come on, Bitcoin is just a currency, it was created to solve the problem of banks and other middlemen, not make miracles. Even if you argue that Bitcoin adds transparency and thus can help keep the government accountable, it's still not a full solution - most of the time people know precisely about corruption, they just don't have the power to stop it.

[White Christmas]

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

That's true that Africa is one of the most poor country all over the world because the government is controlling the production of goods and natural resources. If the Africans will be able to accept the bitcoin and cryptocurrency then maybe they can be able to increase their economic growth and their country's economy, if they accept it and regulates it they can start a trading and buying or selling goods through the help of bitcoin as their personal currency.

[Webetcoins]

The blockchain technology could actually be the most helpful tool for the economic growth of developing countries in Africa but there are still lots of things to consider. They still lack pieces of equipment to pursue crypto adaption. I guess they still have to educate people on how to enrich their natural resources before jumping into digital currency. They still have a lot to improve and discover in their natural treasures so they would have the capability to adapt the latest technology for their country.

No doubt blockchain can bring economic revolution. African countries that actually top the list of corrupted countries, will get rid of this disease by blockchain. It can replace failing institutes, become an alternative source of capital, escape fluctuating currencies (hyperinflation and inflation), used in cross-border payments and many more. Bitcoin must also be used to solve money problems as it works hundred percent.

[darewaller]

Africa is the worst continent where you can ever think that they will whole heatedly accept bitcoin even if they know that it has economic benefit to them because, Africa has too many corrupt leaders, and I totally agree with you that Africa is very rich, they are rich in everything and it is as if God purposely blessed them with all those riches, but as they say that you cannot have your cake and eat it all.

It seem like Africans are cursed with every bad leaders, because most of their leader looks so corrupt and that is why their economy look like they are not growing, meanwhile they are really growing, but corruption would not allow the leaders to manage the economy well. If you now introduce bitcoin, when they know it will create transparency and allow people they are stealing from to have control of their money, do you think they will allow?

[justdimin]

Africa is basically a great place, and truly they have lots of resources, but their problem is that they have foolish leaders. So, I won't blame them for facing poverty, because their leaders are the ones killing them, such great nations. If only they can come together and take down those evil leaders they have then they will see their economy booming.

Their leaders are so corrupt, all they are interested in when they are voted is just to be stealing from the country's purse and making themselves and their family rich. They don't build good schools for their people, but they send their children over to EU and US to study in great schools such as Harvard and Yale at the expense of their country, lol .

Since, they value education that much, why don't they build such schools as Harvard in their own countries ? It's so shameful. These people have resources such as crude oil, but they don't build factories to refine them, rather they sell to other countries and buy back at a higher price. To me that's stupidity and the leaders are to be blamed. In this world our leaders are the ones killing us in most cases but we do nothing, sad truth.

[target]

Africa is basically a great place, and truly they have lots of resources, but their problem is that they have foolish leaders. So, I won't blame them for facing poverty, because their leaders are the ones killing them, such great nations. If only they can come together and take down those evil leaders they have then they will see their economy booming.

Their leaders are so corrupt, all they are interested in when they are voted is just to be stealing from the country's purse and making themselves and their family rich. They don't build good schools for their people, but they send their children over to EU and US to study in great schools such as Harvard and Yale at the expense of their country, lol .

Since, they value education that much, why don't they build such schools as Harvard in their own countries ? It's so shameful. These people have resources such as crude oil, but they don't build factories to refine them, rather they sell to other countries and buy back at a higher price. To me that's stupidity and the leaders are to be blamed. In this world our leaders are the ones killing us in most cases but we do nothing, sad truth.

Leaders in the country are somehow corrupt but this is because its been media manipulated. If EU will just leave them on their own, they will start to develop their practices. No leaders of the country will want their country men to suffer but if all the big guys in the neighborhood wants to hold them by the neck and instead help them, they will grow. The country belongs to the Africans but you can see most of the lands are already bought by the white men.

[Wintersoldier]

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

This can be possible, if and only if we will teach most of the percentage of their population on how to use cryptocurrency, and provide them the necessary gadgets they need to start it. But in my opinion, it will take time, as we need to consider that every vital needs - needs to be settled first before they adopt a technology that can transform the way how they live. We'll take it slowly in a sense that they will not feel the urge that we are forcing them to use crypto. Remember, it is for them in the first place.

[alexsandria]

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

Maybe it will be a big help though. But isn't it Bitcoin market could have a direct effect on their GDP. Besides they have to solve their economic problem first before diving right here in crypto. It might be help on the other hand but they have to be assured first for the basic problem. In addition they aren't totally in a situation wherein they have to depend at somepoint to cryptocurrency it is just they have to get rid of outlanders taking away the benefit of their own.

[posi]

I'm from Africa and you guys have mentioned a lot of aspect with the challenges affect the grow of African nations which are the corrupted leaders purpose to enrich their own pocket rather than push the country forward. However, bitcoin could play a big part in making african countries thrive if the Africa country government legalize it.

[1Referee]

However, bitcoin could play a big part in making african countries thrive if the Africa country government legalize it.

The benefit of Bitcoin is that you don't need permission from your government to use it.

Do you seriously think that governments in African countries will legalize Bitcoin, a powerful tool empowering people to obtain financial freedom? I don't think so. They're rotten from inside and haven't done anything but avoid investing in education, because they wan't people to remain ignorant economically. Ignorance is a powerful weapon that silently does a lot of damage without people even realizing.

People have to do it all by themselves. Governments will not help them improve. We have enough empirical evidence backing that claim up in African countries.

[cotton ball]

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

Africa still not popular with bitcoin and altcoin investment, less investor come from Africa and little ICO or IEO project build in Africa, we have give education with Africa country what the feature of bitcoin and altcoin become legal investment. How bitcoin price increase if holding for long time than they save money in bank. Promote bitcoin and altcoin is the way how to make crypto become popular in Africa.

[Vishnu.Reang]

Africa still not popular with bitcoin and altcoin investment, less investor come from Africa and little ICO or IEO project build in Africa, we have give education with Africa country what the feature of bitcoin and altcoin become legal investment. How bitcoin price increase if holding for long time than they save money in bank. Promote bitcoin and altcoin is the way how to make crypto become popular in Africa.

I have seen a few ICO projects coming from South Africa. But you have a point here. Considering the huge population, the share of Africa in the cryptocurrency market is relatively minuscule. There are a lot of factors behind this low number. The ones that come to my mind right now are the lack of computer education, lack of government support and bureaucracy.

[CryptoBry]

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

Africa can be considered as the last frontier for Bitcoin and although adoption of cryptocurrency remains to be desired in this region, the big potential is here and just waiting to be tapped at the right time. Africa has a total population of 1,318,717,841 and this fact alone means a lot, the more people the more chances that a big chunk will be interested with Bitcoin. With 54 countries scattered all over the continent, with its very rich natural resources, I am not wondering why China has already taken a good sight of this part of the global map.

You said about the problems of Africa are very true. While the potential is there, the region has had been beset with so many huge problems and challenges that lead many people to sever poverty, malnutrition, political instability, pervading corruption and in may case people who are already tired and have given up to carve their bright future ahead. These people suffered from the visible lack of right leadership who can help them rise up from the quagmire they are in.

I can feel the pain suffered by people in Africa. We are all hoping that given the chance, Bitcoin can be of help to those who can be interested. As of now, the African continent is leading the way in the Google search for the term "bitcoin" but sadly there is a big gap in the use and adoption of this cryptocurrency. We are hoping that as years go on, things will be changing and that people will soon be entering the world of Bitcoin as a medium of exchange or payment and not just a store of value.

[huige007]

Africa is basically a great place, and truly they have lots of resources, but their problem is that they have foolish leaders. So, I won't blame them for facing poverty, because their leaders are the ones killing them, such great nations. If only they can come together and take down those evil leaders they have then they will see their economy booming.

Their leaders are so corrupt, all they are interested in when they are voted is just to be stealing from the country's purse and making themselves and their family rich. They don't build good schools for their people, but they send their children over to EU and US to study in great schools such as Harvard and Yale at the expense of their country, lol .

Since, they value education that much, why don't they build such schools as Harvard in their own countries ? It's so shameful. These people have resources such as crude oil, but they don't build factories to refine them, rather they sell to other countries and buy back at a higher price. To me that's stupidity and the leaders are to be blamed. In this world our leaders are the ones killing us in most cases but we do nothing, sad truth.

Leaders in the country are somehow corrupt but this is because its been media manipulated. If EU will just leave them on their own, they will start to develop their practices. No leaders of the country will want their country men to suffer but if all the big guys in the neighborhood wants to hold them by the neck and instead help them, they will grow. The country belongs to the Africans but you can see most of the lands are already bought by the white men.

Leaders are corrupt. There is nothing like somehow. Media is controlled by them and it is a sad fact, we only see what they want us to see. Common people only knows what the government wants him to know. No authority really cares about public. They control us, they manipulate our economy and play with our lives. In order to get out of their claws, use bitcoin. Governments are never loyal with citizens.

[Kprawn]

Changing the "currency" without changing the governments, will not help the people of those countries. A country with a corrupt government

will not push any of the benefits to their citizens, because they will only make bigger profits for themselves. One of the benefits of Bitcoin is

that it is border-less, so the citizens can bypass all the restrictions and limitations that are enforced with fiat payment options. So we see a lot

of countries, using Bitcoin when trade limitations are forced on them. 

[fiulpro]

It is not only Africa , but all the developing countries all around the world are being facing these issues like that since forever , you don't even know when the developed countries come and take credit for everything there and also at the same time they actually pay these developing countries to keep their nuclear waste and all .
This is actually a really bad idea for all the people living in the developing countries as whatever is happening is it's going just down and down for us .

[Strongkored]

I don't really understand Africa but it does have a lot of bad news portraying Africa.
First without mentioning Bitcoin, I think the most important thing to change Africa is the willingness of governments to increase knowledge or education for communities, with improvements that can encourage its communities to change their lives in a better direction. Using Bitcoin as an export payment method is impossible at the moment, many people think it could be a solution to a country's to changing economy, but we know that when it comes to a country it's a macro-economy, so use Bitcoin to change economy country will be hard to implemented.

[Mike Mayor]

I live in Africa and bitcoin definitely makes a difference. I think people here are tired of bad investments because honestly investing in the countries companies is a bad idea and you will lose your money.
The government has a habit of destroying everything they touch or being completely useless. People are looking for a better place to put their money as the currency here is weak too.

Changing the "currency" without changing the governments, will not help the people of those countries. A country with a corrupt government

will not push any of the benefits to their citizens, because they will only make bigger profits for themselves. One of the benefits of Bitcoin is

that it is border-less, so the citizens can bypass all the restrictions and limitations that are enforced with fiat payment options. So we see a lot

of countries, using Bitcoin when trade limitations are forced on them. 

Exactly, but you miss the point and that is that you are not changing the currency of the government but that of the people. bitcoin is free. Let the government play with their monopoly money.
You right bitcoin helps so much with trading and limitations. I can't imagine not using it.

[buwaytress]

I think you'd either have to really poorly informed and ignorant these days to assume anything about any country or region in the world anymore. You, for example, still talk about Africa as a nation when the concept is much larger than that. Continent? Region? The last person who talked about a single African nation in my memory, was Muammar Gaddafi;)

I agree, they got a lot of problems to fix. To be fair, a lot of those problems inherited or built in because of their colonial past, but also because of so many underlying needs -- basic health, basic education... etc.

Bitcoin is far, far from the solution they need. Not today anyway.