Topic: Africa needs bitcoin, not a charity - page 5. (Read 940 times)
Africa needs help, and this help my take a very different forms. I believe it's not good idea to point only one solution. It might end like in Venezuela case
I know about Africa where many people experience social inequality. And yes I know that bitcoin can handle it, but here the problem is the development of technology there. In Africa there are so many people who are not familiar with technology, even the average purchase of internet services is considered very expensive, then what about getting to know bitcoin.
The African government did legalize crypto but unfortunately the government did not develop well.
The African government did legalize crypto but unfortunately the government did not develop well.
I am an African, I learnt about bitcoin without any single help from anyone, all the persons I meant online all hoarded information from me. Currently, only few persons actually know about bitcoin in my area, I have taught hundreds of persons how bitcoin work via a Whatsaap groups, and I keep offering free services even though I currently can't burst of any bitcoin in my wallet because I had use my fund for marriage last year. This not withstanding has not stop me from offering free lectures, I want people to understand that there is a better life outside what the fraudulent banking system offers.
I currently sell bible and motivation books, but have not been getting patronage due to lack of funds to stock goods, so at my office, I invite people to learn how bitcoin work for free, with time, I will start holding free seminars when I make some money enough to host such events. I have saved a lot of persons from buying scam coins in my country and keep doing that. Africa don't need charity fund but quality education and sound leadership. We have more than enough natural resources but a major part is wasting and the rest are been embezzled by bad governance.
I currently sell bible and motivation books, but have not been getting patronage due to lack of funds to stock goods, so at my office, I invite people to learn how bitcoin work for free, with time, I will start holding free seminars when I make some money enough to host such events. I have saved a lot of persons from buying scam coins in my country and keep doing that. Africa don't need charity fund but quality education and sound leadership. We have more than enough natural resources but a major part is wasting and the rest are been embezzled by bad governance.
yes but i think they need too more development about them because most of them are not like the other that can afford or can eat regularly..but im sure that if bitcoin will grow on them, it will give them a help.
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/
The article: https://www.cio.co.ke/africa-needs-bitcoin-not-charity/
in some, yes, but all? no, Poor parts of Africa needs a Government that would;d make a difference for it's people. It is great that in the article they talk about educating people about bitcoin through "campus tours" where they teach basic knowledge of bitcoin such as buying, trading, exchanging etc... but they should also know that not everyone where they do these "campus tours" are educated(I.e. read, write) they can teach all these stuff about bitcoin but it will only benefit those who has an education and can understand the basics of bitcoin.
I travel in Africa a lot for my work and I can tell you that M-Pesa is doing very well there and the people saying that the lack of education will be a stumbling block, would change their mind when they see the younger generation paying with M-Pesa for items in a small Spaza shop.
The problem with M-Pesa is the centralized control and reliance on the cellular companies to facilitate these transactions.
They need someone to develop hardware that makes BTC micro payment without the need of mobile networks and it should be very cheap to buy and to do tx's on these devices. 
The problem with M-Pesa is the centralized control and reliance on the cellular companies to facilitate these transactions.
They need someone to develop hardware that makes BTC micro payment without the need of mobile networks and it should be very cheap to buy and to do tx's on these devices. 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.
Yeah it totally depends on which parts of africa they are saying.. this is very important to know that.. 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.
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.
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.
by gateway i dont mean clearing house. i mean learning experience. buzzwords, definitions. .. they will use bitcoin as a gateway to learning not a gateway payment
bitcoin wont be a clearing house for altcoins. people will just altcoin to fiat direct without btc as middleman.
do you really think people will use bitcoin as a 'clearing house' if it costs $20 a tx... when they could just fiat to altcoin for pennies without involving bitcoin.
this is where the bitcoin core devs should have stuck to coding a fee formula,rather that pretending they re expert economists and taking out fee mechanisms to introduce a fee war
think about it. if you have a bunch of nickles and dimes in a bag and you want to swap it for a bank note. would you bother swapping the small denomination coins for gold and then swap again to bank notes.
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. 
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.
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.. 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.
Give me 50 BTC and atleast 60% of Africa will own BTC in a timespan of 1 Year. Not to mention other Countries 
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.
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..
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.
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.
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
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.
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.
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.
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.
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. The article: https://www.cio.co.ke/africa-needs-bitcoin-not-charity/
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