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Author Topic: [2014-05-21] Bitcoin in Uganda - Empowering People !  (Read 626 times)
BTCat
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May 21, 2014, 07:43:25 PM
 #1

The story about Ronald from Kampala, Uganda who receives bitcoin from his family in the US to support his education

https://www.youtube.com/watch?v=BrRXP1tp6Kw#t=42



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May 21, 2014, 07:54:39 PM
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https://bitcointalk.org/index.php?topic=616845.0

I've seen this story posted several times here already, but it is a really inspiring way bitcoin can help people who need it the most. I really hope it excels in these sorts of countries and the remittance market.
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May 22, 2014, 04:35:57 AM
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This is one of the larger reasons I love bitcoin. From the devaluation of fiat currencies to the borderline criminal remittance fees charged to impoverished nations, Bitcoin has the capability to dissolve much of the exploitation of the less fortunate.

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May 22, 2014, 05:04:01 AM
 #4

Quote
Remittances is 500 billion USD a year in the world.
I think it's 500 billion USD a year, because it is so expensive.

Imagine if it was we could send 20 bucks.

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May 22, 2014, 09:33:25 AM
 #5

Very cool use of coins. I hope it takes off.

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May 22, 2014, 09:34:51 AM
 #6

This is one of the larger reasons I love bitcoin. From the devaluation of fiat currencies to the borderline criminal remittance fees charged to impoverished nations, Bitcoin has the capability to dissolve much of the exploitation of the less fortunate.

Yeah, it's an industry where bitcoin could grow massively, but I only hope it isn't capitalized on by unscrupulous people who will start charging ridiculous fees to transfer the coins back into fiat.
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May 22, 2014, 09:44:40 AM
 #7

These are some of the countries with very large expat population, which could make use of Bitcoins to reduce the fees and commissions.

1. Philippines (workers in Malaysia, Singapore, Hong Kong, Middle East, USA.etc)
2. India (USA, Middle East, South East Asia)
3. Pakistan (Middle East)
4. Tajikistan (Russia)
5. Mexico (USA).

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May 22, 2014, 02:26:00 PM
 #8

This is one of the larger reasons I love bitcoin. From the devaluation of fiat currencies to the borderline criminal remittance fees charged to impoverished nations, Bitcoin has the capability to dissolve much of the exploitation of the less fortunate.

Yeah, it's an industry where bitcoin could grow massively, but I only hope it isn't capitalized on by unscrupulous people who will start charging ridiculous fees to transfer the coins back into fiat.

Its ok if that happens.  It will drive people to find ways to NOT convert to fiat...  Grin
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May 22, 2014, 03:00:19 PM
 #9

It's very awesome that all you need is a cheap smartphone to be your own bank.
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May 22, 2014, 03:25:05 PM
 #10

It's very awesome that all you need is a cheap smartphone to be your own bank.

Nothing safer than a smartphone with backdoors. Goodluck with that.



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May 23, 2014, 06:13:11 AM
 #11

Remittance payments should have less charge on fees - James Angelo is a great spokes person. *** 5stars video ***

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May 23, 2014, 07:36:01 AM
 #12

Remittance payments should have less charge on fees

Yes.... overall, the fee should be in the range of 1-2%, and not in the range of 8-15% which companies such as Western Union and Moneygram charge. But at the same time, fee should be same for all the transactions. We can't give special discounts to remittance payments.

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