Topic: Bitcoin is Gradually Going to the Lower Class in South Africa (Read 204 times)

From other replies, I can see that it's unclear if the company actually implemented the feature because the news come from third parties and a Bitcoin payment option wasn't available to avikz. If they do implement it, it's good news, even though I'm not a fan of the Lightning network. My only question is why the thread name says that Bitcoin is going to the lower class. I assumed it would be some sort of social project, like a community kitchen or something like that, but it seems that the company is just a business. Being in South Africa doesn't translate into being lower class, IMO, as any country has some wealthier and poorer people, even if the standards can differ a lot from one place to another.

Maybe it's the latter that the marketing and promotion come first before the actual feature has come in for its customers.
But, we're going to see that on application when it's totally on its feature and the company that already have it being used by its customers.

If these payment systems are implemented, they will certainly involve 3rd party payment gateway services. The official website (or social media) will not provide an official statement as long as crypto services are not clearly regulated in the country based on the latest news as of October 2022. It's a bit of a dilemma, but these signs are enough to pressure the government to immediately regulate crypto services in the country.

I would like to stress on something and that is the topic of the thread.
It sums to bitcoin going yo the lower class. Well, bitcoin has always been there for people of all status and the idea of it being for the rich rich mighty is a mare delusion made up by those who think bitcoin has no smaller fractions like the Sat's and Mbtc. Currency are never class based but just some ears of acceptable exchange for goods and services rendered. That depends if the means is an option available though.

I think that too can be some possible explanation but in cases like that, it could be blurred or not highlighted amongst available means rather than disappearing entirely.
Perhaps it is as its said by Franky1. Some quick to promoters job even before uts launched.

Maybe it's detecting your IP and you're not from the exact target where they're accepting Ln for their customers. Most companies have that feature wherein if a customer is in actual location that they support such features like accepting LN, the feature will appear.
And if not, then it's not going to appear from those users that are not those in IP that they've set to appear that feature. Maybe that's how it goes there.

It also doesnt make much sense logically. User A can pay with shitty fiat methods or lightning, but not Bitcoin. Lets assume User A wants to spend Bitcoin, but doesn’t have lightning yet. One option is to start a LN channel, which in turn means he spends more time and fees than just sending 1 regular on-chain transaction. The other option is to use custodians again either to use their channels or to convert back into fiat, which in turn means spending more time and fees than sending 1 regular on-chain transaction again. Idk if im missing something or they simply didn’t take this case into account.

That's great news. That's something that can be defined as part of the real adaption of the one and the truest coin amongst the sea of tokens in the web3.
How do they plan to protect against the volatility of BTC and its value against the FIAT though (that is in the short term of course)?

yes user experience of custodial LN is nothing like the experience of actual bitcoin. it has none of the features or functions of bitcoin in any way

as for having a co partner even thats not bitcoin. having to ensure your partner is awake, has value and also his partners can bounce the payment along.. not what bitcoin was invented for..

then there is the lock/pegs.. LN wallets can be abused to show iffy msat values that do not correspond to the hidden commitments and close session amounts users dont see underneath the GUI

sending msats is a vocal, visual and unit measure thats not even in the bitcoin language

and then thre are the flaws and bug and many methods co partners can steal value from you..

but hey. i shouldnt say more or the usual group will chime in to defend lightning like its better then bitcoin

i feel sorry for anyone that is falsely being told they are using bitcoin when they are handed a wallet that uses a different network brand stealing bitcoin

i do not mind people using other networks if it pleasures them. but just be honest about it.. if people want to play with subnetworks like ln and liquid or other sidechains  that are bridged to bitcoin network value, so be it. just be clear about the differences and the risks.

el salvador learned the hard way...
.. though they are using a bitcoin custodian exchange as their backbone of the chivo wallet THIS YEAR. they too were over promised features of LN last year which ended up causing liquidity bottlenecks within days of launch when they first tried LN last year

The bigger problem i see is the increase of newbies just being introduced to custodial lightning without ever touching the chain, holding keys and running nodes. Getting thrown into custodian hands without proper education. It’s indeed like having never used Bitcoin. Not offering on-chain transactions seems odd too, idk how this could still be counted as adoption.

its another pro LIGHTNING group jumping before they can walk
over promoting before they even have the system set up

goodluck with the liquidity bottlenecks..

to all real bitcoiners:
remember not your keys not your coin
if its not on the blockchain its not bitcoin

lightning payments are promises not settled value.
lightning is not sole ownership its partner cooperation

if you require a person or a string of people to be online and agree to pass the parcel.. of value in a unit measurement that bitcoin does not recognise.. its not bitcoin

its much the same as sidechains. a sidechain that is using a bitcoin utxo as a value lock.. is not bitcoin. its a side/sub network.

its fine to use LN if you remain risk aware of the differences of what LN is and what bitcoin is not. use it for short term nich

@so98nn

I have tried to do the same but couldn't find any news from their official website. It seems that this news is coming from many crypto news websites but not from the main party. So I have tried to create an order using one of my friend's address in Pretoria and it seems no such option is added in their online platform. See the screenshot below,



Not sure if they have only implemented such features in their retail store or not, but it's missing from the online platform.

I tried searching about the news but it does not seem they have published any news regarding it over their website or can’t find it anywhere else. Though it is good news, it would be interesting to see the facts about it published by them.

However, it seems that they have their own “financial cards” which can be used by the businesses and have 55 days of credits for their purchases with them.

So it is possible that they might have launched crypto related payments.

Pick n Pay waybill company in South Africa accepting Bitcoin as a payment method with their goods delivered. As a retail company every citizens has the right to order any goods and pay in Bitcoin and make the citizens more stress free and safe time by presenting bank teller before accepting payment. But with Bitcoin life is very much easy. There are about 39 of it (company) branches are accepting Bitcoin in the country.

The company uses Lightning Network to make things easy and simple for the citizens or customers to make transactions. According to the company by next month they are going to circulate Bitcoin in all their outlets. That means, Bitcoin is going to be circulated around to a maximum way in South Africa.

South Africa Retailer Pick n Pay Now Accepts Payment in Bitcoin at 39 Outlets