Bitcoin's now the only way to send money to Somalia

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

Quote from: Nerazzura on February 06, 2015, 09:45:44 AM

we send bitcoin there, and maybe they could swap it to paypal.
if they have the account, and whether paypal apply there?

They do have paypal; I know local charities which accept donations via paypal. So BTC's the logical next step.

More than that, this creates a totally new situation. Here, in our rich countries, we wonder how we could integrate BTC in our daily life, but to Somalis abroad, BTC may be the only option to send money home. I'm using BTC because there wasn't any other choice. Hey, that's cool.

Nerazzura

sr. member

Activity: 378

Merit: 250

we send bitcoin there, and maybe they could swap it to paypal.
if they have the account, and whether paypal apply there?

unamis76

legendary

Activity: 1512

Merit: 1012

They have no internet, no computers, no phones, no nothing... Bitcoin will take a long time to reach them, so no, not a viable option so far

EFS

staff

Activity: 3822

Merit: 2123

Crypto Swap Exchange

Even if they haven't exchange sites I'm sure you can find people who have internet connection in local areas to exchange Bitcoin.

neurotypical

hero member

Activity: 672

Merit: 503

Quote from: fenghush on February 06, 2015, 08:49:16 AM

Quote from: ?? on ??

Quote from: Passprot on February 06, 2015, 08:06:13 AM

if no exchange in there
sending BTC is useless

Not if they can spend it there as currency.

If the people from Somalia agree that bitcoin is their currency then they can, it just sucks internet access is a luxury there.

The people there are too illiterate. I dont see how they'll get their heads around the concept of bitcoin anytime soon.

fenghush

sr. member

Activity: 658

Merit: 250

Quote from: ?? on ??

Quote from: Passprot on February 06, 2015, 08:06:13 AM

if no exchange in there
sending BTC is useless

Not if they can spend it there as currency.

If the people from Somalia agree that bitcoin is their currency then they can, it just sucks internet access is a luxury there.

Bralex

sr. member

Activity: 308

Merit: 250

I can hear it already "Somalia the bitcoin capital of the world" Roll Eyes

pereira4

legendary

Activity: 1610

Merit: 1183

Quote from: thompete on February 06, 2015, 08:26:12 AM

Quote from: countryfree on February 06, 2015, 08:15:11 AM

Well, if there's no exchange in Somalia, it's now a huge opportunity to start one.

They probably would have one or 2 exchanges there allowing people to trade bitcoins for cash.

How about the next step: Merchants actually accepting BTC for goods.
If we always depend on an exchange to convert to fiat then BTC as a currency is useless.

thompete

full member

Activity: 224

Merit: 100

Quote from: countryfree on February 06, 2015, 08:15:11 AM

Well, if there's no exchange in Somalia, it's now a huge opportunity to start one.

They probably would have one or 2 exchanges there allowing people to trade bitcoins for cash.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Even with this, Somalia is better off now than when they had a government.

fenghush

sr. member

Activity: 658

Merit: 250

Good job west, isolate the most poor country in the world, that will show those militants.

Beyonce

member

Activity: 86

Merit: 10

Surfbort.

Quote

A bank which handles money transfers between US-based Somalis and their families in east Africa is to close its service over concerns the funds are being channelled to militants.

That's cute. Doesn't money and arms courtesy of the US usually get funneled straight into militants?

Hopefully something like this will cause bitcoin to be considered as a serious option.

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

Well, if there's no exchange in Somalia, it's now a huge opportunity to start one.

Passprot

newbie

Activity: 56

Merit: 0

if no exchange in there
sending BTC is useless

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

http://www.bbc.com/news/world-us-canada-31159900

I use to think that ownership means I can do whatever I want with what I own, but if you own some cash, live in the USA, and want to send that cash to Somalia, you just can't do it. Somehow, this is fascism, and BTC may be the only solution against it.

Now, what can be done with BTC in Somalia? Any exchange there?

Topic: Bitcoin's now the only way to send money to Somalia (Read 903 times)