Bitcoin Legal Tender in Central African Republic

[TheGreatPython]

Definitely Central African Republic is learning something pretty good from El-Savador's adoption and how they make not full dependency on the bitcoin adoption but also creates means to make good economic benefits out from the bitcoin adoption in their country, they have many plans in place in which through the bitcoin adoption can help increase their GDP, internal generated revenues IGR, in consideration with the introduction of their first world bitcoin tourist centre.

Now that Central African Republic is taking the moves in like manners to help increase active participation of their citizens with the use of bitcoin in their day to day economy is a bold step in consideration and they will make a better offers with benefits out of it, this action taken by CAR isn't a correction of their first move of adopting bitcoin but rather a continuation to progress thier adoption and make it available option for every of their citizens to make use of.

This is going to grow bigger, we are going to get a ton of nations who are all investing into bitcoin as well. Legal tender is a big deal, but what is even bigger deal is getting nations to invest.

Governments have tax income and that is 99.9% of the time bigger than any company in that nation, and that means that if more and more nations go in and invest into bitcoin, it would be money that not a single person could invest into, it would be a block of investors that would be deciding factor. It's risky of course because if they all decide to get out they could crash it hard but at the same time if they get in, they could make it go up super high at the same time as well.

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[Crypto_Dotar]

Good news because there will be a country that follows El Savador by legalizing Bitcoin, with facts like this so I do not hesitate and panic even though I see that the market is red, it's better to focus on continuing to buy because I'm sure many countries will soon follow the Republic of Central Africa.

I think Bitcoin will get legitimacy in all countries.
But the current Bitcoin market is very bad so there is no reason to be terrified. The future Bitcoin market will be much better.
Lastly, I would like to buy as much bitcoin as you can. The future can benefit a lot.

[fillippone]

The mirage is slowly disappearing and instead of the beautiful oasis, you still get that hyena den full of the bones of the ones that believe in it.

Today on the Italian bitcoinitaliapodcast.it they did a pretty interesting wrapup of the CAR situation.
They cannot explain this 180 degree turn into the worst shitcoinery.
As soon as I will regain access to my usual tech gadgetry I will try to post a translation here.

[JayJuanGee]

The mirage is slowly disappearing and instead of the beautiful oasis, you still get that hyena den full of the bones of the ones that believe in it.

Today on the Italian bitcoinitaliapodcast.it they did a pretty interesting wrapup of the CAR situation.
They cannot explain this 180 degree turn into the worst shitcoinery.
As soon as I will regain access to my usual tech gadgetry I will try to post a translation here.

I see what you did there.

Delay the more detailed information by a few days...


Profit.

 

[fillippone]

Delay the more detailed information by a few days...

Profit.

 

You have no idea where, in which conditions, and how I am writing these posts.
I am travelling on a secret mission…. Holidays.
Those kind of things require a certain tech setup.

[naira]

Delay the more detailed information by a few days...

Profit.

 

You have no idea where, in which conditions, and how I am writing these posts.
I am travelling on a secret mission…. Holidays.
Those kind of things require a certain tech setup.

I will wait for you really in a stable condition in accessing the network. Vacations are important to feel fresher to return to activities, right?
so it never hurts for me to wait for what information you will share. It was quite worth the wait.

Anyway, I'm very interested in what results are being talked about on bitcoinitaliapodcast Italy.

[JayJuanGee]

Delay the more detailed information by a few days...

Profit.

 

You have no idea where, in which conditions, and how I am writing these posts.
I am travelling on a secret mission…. Holidays.
Those kind of things require a certain tech setup.

The code phrase for all of what you just said is:  "fortune favors the brave"

https://twitter.com/cryptoparadyme/status/1547088449022222336?s=21&t=qU6YEY7z1zcgOPIKaj9CCA

I got the link from WO thread.

 





Furthermore, I am sorry to have to be the one to break OP sec and to leak one of the higher-ended angles of your operation.. .. but it is in the interest of the public and for your own good.

















Covert tactics of true shitcoiner fillippone revealed, by the breaker of bad newses. As far as I can tell.. the location is not even in CAR like fillippone had been proclaiming.  I think that might be part of the Coinbase angle of the "investigation," if we might even believe that.

[Die_empty]

You have no idea where, in which conditions, and how I am writing these posts.
I am travelling on a secret mission…. Holidays.
Those kind of things require a certain tech setup.

I hope you are embarking on a secret mission to Central African Republic. I would like to know if really the adoption of Bitcoin is just a political prank or indeed for economic purposes.This is because as an African I have so much expecting for the adoption of Bitcoin in that country. Ist success in CAR would be major boast to the adoption of Bitcoin in other countries in Africa. In fact I am sure that most African countries are just observing keenly the development in CAR. I pray CAR has the political will and economic determination like El Salvador.

[Daltonik]

The website of the Sango platform has been launched, registration and KYC passage are also now available, but the purchase of Sango tokens is not yet available, they promise to inform you about the start of sales of Sango tokens soon. https://sango.org/

https://twitter.com/sangoproject/status/1547721016532619265

[Rikafip]

I would like to know if really the adoption of Bitcoin is just a political prank or indeed for economic purposes.

When you take into consideration that CAR is one of the poorest countries in the world where majority of people don't even have electricity, its obvious what was behind this decision to make Bitcoin legal tender.

The website of the Sango platform has been launched, registration and KYC passage are also now available, but the purchase of Sango tokens is not yet available, they promise to inform you about the start of sales of Sango tokens soon. https://sango.org/

State sponsored ICO..what could go wrong. 

I hope that now even most optimistic people will realize that Bitcoin adoption in countries like CAR is nothing but a pipe dream.

[Daltonik]

I would like to know if really the adoption of Bitcoin is just a political prank or indeed for economic purposes.

When you take into consideration that CAR is one of the poorest countries in the world where majority of people don't even have electricity, its obvious what was behind this decision to make Bitcoin legal tender.

The website of the Sango platform has been launched, registration and KYC passage are also now available, but the purchase of Sango tokens is not yet available, they promise to inform you about the start of sales of Sango tokens soon. https://sango.org/

State sponsored ICO..what could go wrong. 

I hope that now even most optimistic people will realize that Bitcoin adoption in countries like CAR is nothing but a pipe dream.

Yes, the pledge, although partial, of its natural resources for the release of Sango coin is probably a rash decision, but for a CAR where there is an endless civil war and besides, a private military company from Russia provides assistance, I certainly would not trust such an ICO.

[stompix]

You have no idea where, in which conditions, and how I am writing these posts.
I am travelling on a secret mission…. Holidays.
Those kind of things require a certain tech setup.

I hope you are embarking on a secret mission to Central African Republic.

I hope he isn't!
There is still war going there and a secret mission toa  warzone is not really that much of a holiday!

I would like to know if really the adoption of Bitcoin is just a political prank or indeed for economic purposes.

Politicians don't do pranks, they do plunder.

State sponsored ICO..what could go wrong. 
I hope that now even most optimistic people will realize that Bitcoin adoption in countries like CAR is nothing but a pipe dream.

Yeah, Bitcoin Island, futuristic skyscrapers, tokens backed by mineral resources!Where and how many times have I heard this thing? Petro? Akoncity?

But seriously, this Sango has everything
- Crypto city and Crypto Island
- Metaverse
- Defi and Digital National Bank
- Backed by mineral resources /democratization fo resources
- African Crypto hub
- Renewables for crypto mining
- E-residency, 0% tax for everything

They crammed everything, every single perk they could find in this coin.
And they plan to do all this with 21 billion tokens worth 10 cents each meaning 2 billion. Yeah right!

[fillippone]

They crammed everything, every single perk they could find in this coin.
And they plan to do all this with 21 billion tokens worth 10 cents each meaning 2 billion. Yeah right!

In the show i earlier mentioned they are going to disclose a little bit about this.

Just remember we are not talking about a developed county, but a third world country where the average income is 250 dollars.
Are we sure the priority is a metaverse island?

[stompix]

Are we sure the priority is a metaverse island?

Should metaverse be a priority anywhere?
Not even in a developed country the whole metaverse which, (no! not even going to waste my time on the whole virtual world concept rebranding to sell nearly useless stuff under a different name ) is a priority, it shouldn't be even for private companies that should stick to making jeans and shoes rather than selling avatars and land plots.

I can't wait for that podcast, I've gone through their Genesis Paper and there is so much stuff there than raises one truckload of questions, some really outrageous, like the integration of a healthcare monitor. Healthcare, what healthcare! Reading that and seeing on booking a hotel with barbwire in Bagui, I'm definitely curious about the reality on the ground, and! please tell me you're not the one investigating there! 

[Rikafip]

And they plan to do all this with 21 billion tokens worth 10 cents each meaning 2 billion. Yeah right!

Nice, fully diluted mcap of 2 billion. I am just looking at their tokenomics and it seems like 20% of the total supply is up for public sale, meaning total raise is at least $400,000,000 and realistically much higher as price during public sale will go up to $0.45.  Ridiculous numbers, but then again what about Sango is not ridiculous? I already saw on that tweet someone complained that $500 minimum buy in is too high.

Just remember we are not talking about a developed county, but a third world country where the average income is 250 dollars.

Hm, CAR has $250 average salary? This somehow seems way too high for one of the poorest countries in the world as I thought their average must be under $100.

[JayJuanGee]

I would like to know if really the adoption of Bitcoin is just a political prank or indeed for economic purposes.

When you take into consideration that CAR is one of the poorest countries in the world where majority of people don't even have electricity, its obvious what was behind this decision to make Bitcoin legal tender.

The website of the Sango platform has been launched, registration and KYC passage are also now available, but the purchase of Sango tokens is not yet available, they promise to inform you about the start of sales of Sango tokens soon. https://sango.org/

State sponsored ICO..what could go wrong.  

I hope that now even most optimistic people will realize that Bitcoin adoption in countries like CAR is nothing but a pipe dream.

Regarding the idea of "pipe dream," I would not be so bold (or bitcoin naysaying) as to proclaim that the mere fact that a country is either poor or strife with civil conflict that it would not be able to work towards some kind of integrity-based adoption of bitcoin - even though it seems pretty damned clear that integrity-based would not be including shitcoins in the mix (at least not in the early stages)..

Surely, I am not proclaiming to know all (or even many) of the implementation answers, but there are likely ways to attempt to build integrity and credibility by focusing on bitcoin first, and so far El Salvador has been showing a decently good model for this - yet I am not going to be afraid to slay my heros in the event that El Salvador starts to fuck up and substantially start to deviate from what seems to be a decently good integrity-based boyscout try at a bitcoin first approach... ..

You have no idea where, in which conditions, and how I am writing these posts.
I am travelling on a secret mission…. Holidays.
Those kind of things require a certain tech setup.

I hope you are embarking on a secret mission to Central African Republic.

I hope he isn't!
There is still war going there and a secret mission toa  warzone is not really that much of a holiday!

It seems to me that you (stompix) have gotten too attached to an avatar on the interwebs.  #justsaying.

Fillippone should go there..


Fortune favors the brave.

Good luck fillippone (let us know if there are any hot chicks there).

Better you than me.  

 

Just remember we are not talking about a developed county, but a third world country where the average income is 250 dollars.
Are we sure the priority is a metaverse island?

Admittedly, working on metaverse focuses does seem pretty strange (yeah stompix said it about the idea of some kind of realistic implementation of metaverse anywhere seems a bit lame, too) - including that there cannot be too many locations in which the electricity is very reliable.. except maybe there are urban pockets and then the security around any kind of affluent location would need to be pretty strong too.

Security through obscurity, so its almost like you would have to be an insider to get into some of those kinds of circles, and even then, the quantity of the population that are affluent enough to be able to participate seems like it would not be very BIG in order to even have some kind of a reasonable vision of growth from within the country.. so there would likely be a lot of reliance on outside interest and hype (so that the rug pull might become effective when it happens)...

[fillippone]

Hm, CAR has $250 average salary? This somehow seems way too high for one of the poorest countries in the world as I thought their average must be under $100.

Mhh you are probably right.
If I Look at the GDP per person in CAR I get 511 USD.




So yes, probably I was shooting too high!
Tomorrow I'll try to do the podcast transcript.

[Rikafip]

Regarding the idea of "pipe dream," I would not be so bold (or bitcoin naysaying) as to proclaim that the mere fact that a country is either poor or strife with civil conflict that it would not be able to work towards some kind of integrity-based adoption of bitcoin - even though it seems pretty damned clear that integrity-based would not be including shitcoins in the mix (at least not in the early stages)..

There are poor countries ( countries like El Salvador) and then there are countries like CAR which are several levels below that on absolutely every parameter. It's just that I don't see how country where only ~15% people have access to electricity can implement something as tehnically demanding, and bitcoin being legal tender definitely is. It's one thing to proclaim something and entirely different to actually implement it.

Beside them not having basic infrastructure, its also questionable how useful something as volatile as bitcoin would be in the country where people have issues buying food. Imagine being on such a tight budget that you can barely feed your family, and then bitcoin you got goes 10-20% down, meaning you won't be able to afford food.

CAR has much bigger issues to sort out before bitcoin can help them and that's why I think all this has been nothing but a stunt.

Mhh you are probably right.
If I Look at the GDP per person in CAR I get 511 USD.

Imagine the level of poverty there when El Salvador (which is seen as a 3rd world country) has GDP per capita 8x higher.

[JayJuanGee]

Regarding the idea of "pipe dream," I would not be so bold (or bitcoin naysaying) as to proclaim that the mere fact that a country is either poor or strife with civil conflict that it would not be able to work towards some kind of integrity-based adoption of bitcoin - even though it seems pretty damned clear that integrity-based would not be including shitcoins in the mix (at least not in the early stages)..

There are poor countries ( countries like El Salvador) and then there are countries like CAR which are several levels below that on absolutely every parameter. It's just that I don't see how country where only ~15% people have access to electricity can implement something as tehnically demanding, and bitcoin being legal tender definitely is. It's one thing to proclaim something and entirely different to actually implement it.

Beside them not having basic infrastructure, its also questionable how useful something as volatile as bitcoin would be in the country where people have issues buying food. Imagine being on such a tight budget that you can barely feed your family, and then bitcoin you got goes 10-20% down, meaning you won't be able to afford food.

CAR has much bigger issues to sort out before bitcoin can help them and that's why I think all this has been nothing but a stunt.

Mhh you are probably right.
If I Look at the GDP per person in CAR I get 511 USD.

Imagine the level of poverty there when El Salvador (which is seen as a 3rd world country) has GDP per capita 8x higher.

I don't disagree with anything that you are saying in terms of the level of challenges facing countries on the lowest level of the infrastructure, and surely they likely need to get their shit together... yet I still doubt that you are presenting any kind of slam dunk case that precludes the use of bitcoin and/or sound money to supplement rebuilding and/or getting your shit together... ..

In other words, to me you seem to be presenting a case for "how much to invest?" or "how to invest?"  rather than "whether to invest?"  

There are ways in which Bitcoin is good for everyone who is capable of putting a budget together.., especially something like a government.  .. even the governments that are in the worst of financial shape.. and part of the reason is that bitcoin is both a financial instrument and the soundest of monies ever in existence.  Sure there are problems of morality and ethics and corruption, but I am not going to automatically presume people to be immoral and corrupt, so that was part of the way that I had framed my earlier response in terms of imagining someone with ethics using bitcoin to rebuild.. there are ways that even the poorest of countries could be advantaged by bitcoin.

[savetheFORUM]

Are we sure the priority is a metaverse island?

Should metaverse be a priority anywhere?
Not even in a developed country the whole metaverse which, (no! not even going to waste my time on the whole virtual world concept rebranding to sell nearly useless stuff under a different name ) is a priority, it shouldn't be even for private companies that should stick to making jeans and shoes rather than selling avatars and land plots.

I can't wait for that podcast, I've gone through their Genesis Paper and there is so much stuff there than raises one truckload of questions, some really outrageous, like the integration of a healthcare monitor. Healthcare, what healthcare! Reading that and seeing on booking a hotel with barbwire in Bagui, I'm definitely curious about the reality on the ground, and! please tell me you're not the one investigating there! 

I would guess that metaverse should be priority if you are building a proper game. I mean don't get me wrong, it shouldn't be something that is major and suddenly like "this is better than the real world!!!" type of deal, but it ain't a bad world to live in neither. We all remember the talks and hype about "ready player one movie is becoming a reality" and then we all saw that roblox/minecraft type of metaverse shit and realized how long we still have for that.

But, there are at least some teams working on building some decent games which has a universe. Hell, imagine Eve online, it has been there for a long time, imagine that but in crypto world, wouldn't that be awesome?