Topic: Bitcoin is gaining momentum in Africa - page 9. (Read 2409 times)

bitcoin is gainning in africa are good news truly bitcome increasing the strenght of power in the cryptocurrecy world i believe not only in africa for the bitcoin continues the success in the intrire world as become a leading currency someday.

Did you read the link I provided?

It shows the history of the central bank and Mpesa using coercion and illegal practices to shutdown competition and to subvert bitpesa from spreading.

Educating and counter-action should be taken against the individuals acting in such disregard. Their names should be available easily, these are those serving as the Board of Directors for any of the entities.

Have fun.

it takes decades

Great! Now even more countries are exposed to Bitcoin. Africa is a huge continent with a lot of potential for cheap digital payment. Bitcoin can fill that role perfectly. I hope African people really start getting involved and using Bitcoin instead of sending money through bank with huge fees.

Always great to hear development of Bitcoin adoption in the world

i heard some starups like bitpesa are providing bitcoin related service. (mostly international remittance)
also heard Safaricom provides mobile payment solution to their customer, so am interested to see how bitcoin could co-work with such local financial services. it will be different from those in US or other locations

it's a good thing , and make bitcoin more popularity to all people .

I think the 10 years the long time period the people are now using the bitcoin on the high stage and the value of the bitcoin will be very high in the coming days; it is the time to make bitcoin use worldwide and remaining countries will make the bitcoin more popular with the time. It is the good time to increase the power of your money.

We are all aware already that even their is a strong opposition by the government, the growth can be achieved. Bitcoin is unstoppable and really gaining wider acceptance. I do hope that Africa is the next continent that will take advantage of bitcoin. I'm seeing that if this is successful, there is a chance that the continent would at least alleviate the economic and financial aspect of the population. Maybe 2-5 years from now, Africa will be very different because of bitcoin.

Well that good to know and aomething to look forward to. It also proves that Bitcoin is getting more popular to more countries and people and will also positively affect its market value since the demand will continue increasing. Hoping that in the future, it will be legal to more countries and will be used by more people as a currency.

It makes sense. it's the only way Africa can free themselves from outside rule.

Long back itself bitcoin has gained more momentum in Africa. This happened when few scam MLM's used it as an source to reach the user base. This further gained more support from the countrymen even after strong opposition arose from the government. So at present it might be gaining more momentum as the growth is happening potentially.

it's great fun, I hope that bitcoin always spread all the way to the corners of the world, so many people who can feel the result of bitcoin, I am very happy with this news.

bitcoin spreading a good movement to us and its also a good news for the community. afrika will gaining bitcoin benefit and they can use bitcoin to buy many things for their needs. from now one, i think there will be more country is interesting with bitcoin like africa as we know in that country, many poor people which trying to survive from the hardest live that we can not imagine. and if they can use bitcoin like us then they have the biggest opportunity for their life so they can be a growing country like others else.

Well, we need to make sure that the electricity supply is reliable. If power is available only for 10-12 hours a day, then the miners will have to arrange for their own power supply, which can be quite expensive. Or they may be forced to shut down their rigs for an extended duration, which can also cause a hole in the pocket for them.

I saw and read an article that the electric bill there is small
if that so the miners will be have luck and momentum will increase for those people

good for African people despite of its economy and way people lives will give them opportunity to rise

Yes, there's a bigger presence of Bitcoin in South Africa and Nigeria. Kenya is emerging as well due to recent history.

You can see the growing demand by country from localbitcoins trades here, the growth is staggering (scroll down to see all the individual countries:
https://coin.dance/volume/localbitcoins

Adoption of electronic-remittance has been great in many places in Africa! Primarily from the widespread use of cell phones with internet connectivity.

What would serve the people of Africa the best would be to use the real Bitcoin as it the most secure and best store of value. Any other 'blockchain' is essentially a scamchain. The greatest use-case for Africans would be obtaining Bitcoin as a long-term savings mechanism and secondary use as a cheap means of transfer for cross-border remittances. Bitcoin is the best tool to break away from central-bank financial bondage.

Has everyone known about the widespread use of cellphone remittance in Kenya (other parts of Africa) and attempts to centralize and control, shutdown competition?
Not too long ago - the debacle of Safaricom Mpesa and Bitcoin;
https://www.kenyainsights.com/revealed-how-a-worried-safaricom-used-backdoor-to-shutdown-bitcoin-which-was-set-to-neutralize-mpesa-dominance-in-kenya/


Not just in Africa, Fiat around the world is heavily infested, broken, and burdened with:
-regulatory burden on fiat banks & system (incredibly costly)
-insurance fraud
-false claims and insurance losses
-unemployment & other welfare costs
-inflating fiat to keep stock market rising and to keep house-prices from collapsing
-financing conflicts, bombs, and "aid"
-stabilize regions after natural disasters
-keeping monopolies with internet access centralized and search engine crawlers centralized
-money laundering
-chargebacks
-frivolous legal costs (lawsuits bogging the system down)
-state-sponsored corruption and unofficial corruption (governments and gangs, banks and conartists)
-retirement obligations (debasement in value to keep up with payments from government or other retirement-obligations)
-fake credit (goods being transacted with credit-loss, replaced by inflation of monetary base rather than bringing perpetrators & source to justice)

Bitcoin, systemically, is free from these burdens.

Bitcoin CANNOT be controlled.
Bitcoin cannot be made legal. Governments may still attempt to do so.
Bitcoin cannot be made illegal. Governments may still attempt to do so.

Efforts by any country's central bank or government to regulate bitcoin will accelerate that country's demise of fiat value. These costs of such attempts and many other costs are absorbed by monetary inflation - making fiat even more worthless over time. Fiat system has been broken for decades. Bitcoin however had reached escape velocity globally 4-years ago in 2013 thus will continue to rise & be adopted as it is the only escape from financial slavery and an opt-out of war-making, slave-labor producing central bank regimes.

Has Africa always had an "expanding demand" for Bitcoin? I could have sworn that a decent portion of the posts that I had seen back in 2014-2015 were about Africa suddenly having a massive demand for Bitcoin, or asking how Bitcoin could be spread within Africa, etc. This doesn't seem like anything that is newsworthy to me, really. They seem to have been doing this for a long time and I would have been more surprised if there wasn't someone who was developing things within Africa.

they need very secured bitcoin atms there aswell

This is another milestone for Bitcoin. Another continent is being saturated by Bitcoin blockchain technology,  this is a great news and at the same time Bitcoin might help those developing country's citizen to at least elevate their status of living by participating in different startups activity.  It was been proven several times that these Bitcoin startups greatly improve the lives of people.

Good news for Nigerian people. It's good to have a local exchange to buy or sell bitcoin with local currency. Unfortunately, for my country, we have big difficulties in buying and selling with local currency.