Ok assuming Central African Republic has a low internet usage rate, what guarantee is there that people will start using some new physical form of Bitcoin is not a trustless system like what the electronic form of Bitcoin?
Since they don't have internet, they are left with two legal tender options: a fiat currency with a history and high probability of continued debasement, or a bitcoin note which is programmatically immune from debasement. Having had experience with fiat, the bitcoin note is more attractive. While bitcoin is currently volatile, a wider use of bitcoin will gradually stabilize it. Its value is also likely to continue increasing as it becomes more widespread internationally and halvings further cap the supply of bitcoin. It's our job to make BitCheques as trustless as possible. 
Topic: Physical Bitcoin for the 3rd World - page 3. (Read 906 times)
Is Central African Republic really that badly off in terms of Internet access? I find that had to believe.
Where do people get such statistics, and who does them?
DIGITAL 2022: THE CENTRAL AFRICAN REPUBLICWhere do people get such statistics, and who does them?
Internet use in the Central African Republic in 2022
https://datareportal.com/reports/digital-2022-central-african-republic?rq=Central%20African%20Republic
Quote
"The Central African Republic’s internet penetration rate stood at 7.1 percent of the total population at the start of 2022...For perspective, these user figures reveal that 4.61 million people in the Central African Republic did not use the internet at the start of 2022, meaning that 92.9 percent of the population remained offline at the beginning of the year."
Is Central African Republic really that badly off in terms of Internet access? I find that had to believe.
It seems correct:Quote from: Reuters last month
Central African Republic has internet penetration rates of just 11%, equal to some 550,000 people online last year, the DataReportal website estimates. Meanwhile only around 14% of people have access to electricity and less than half have a mobile phone connection, the Economist Intelligence Unit says.
So many of the people without electricity have a mobile phone, which means they go somewhere to charge it. It's also one of the most expensive countries for mobile data. 
The Central African Republic has just declared Bitcoin to be legal tender, but 90% of the population doesn't have ready access to the Internet.
Is Central African Republic really that badly off in terms of Internet access? I find that had to believe.Where do people get such statistics, and who does them?
Ok assuming Central African Republic has a low internet usage rate, what guarantee is there that people will start using some new physical form of Bitcoin is not a trustless system like what the electronic form of Bitcoin?
Of course, complete trustlessness is an ideal toward which we strive. Most bitcoin transactions over the Internet don't meet that criteria either - especially if someone uses a custodian or widely shares his public address. Another ideal is simplicity. Having to memorize a password for transactions fails that test. Using bitcoin correctly requires a steep learning curve. A currency shouldn't.
Initially, the guaranteed amount will likely be more like 10000 satoshis. As the production process becomes more secure and anti-counterfeiting measures are improved, larger denominations will become more feasible.
I believe that you greatly underestimate the potential of smart contracts. A complex DAO shouldn't be necessary in this case anyway.
The lightning network allows transactions to take place without being verified in real time. Paper notes would improve on portability.
Initially, the guaranteed amount will likely be more like 10000 satoshis. As the production process becomes more secure and anti-counterfeiting measures are improved, larger denominations will become more feasible.
I believe that you greatly underestimate the potential of smart contracts. A complex DAO shouldn't be necessary in this case anyway.
The lightning network allows transactions to take place without being verified in real time. Paper notes would improve on portability.
Quoting from the other topic:
Actually, there are some very good methods of selecting an arbitrator. For example, each party submits 3 arbitrators, from which one is chosen by the other party. The two arbitrators select a third. The panel of three decides (2 of 3) from between solutions submitted by each party without alteration as to what funds are released to what party. This prevents a "splitting the baby" compromise.
The main problem: no matter how good the arbitrator is, it's not trustless. If someone wants to pay me with a private payment system which means I have to trust some people I don't know, I wouldn't accept it. I'm not into Bitcoin to trust people, I'm into Bitcoin to be my own bank so to speak.The Central African Republic has just declared Bitcoin to be legal tender, but 90% of the population doesn't have ready access to the Internet.
I assume that percentage will only go up the coming years.Quote
I am exploring safe ways to use Bitcoin without having to connect to the Internet for every exchange.
It's like sending an email: you can't do it without the internet. You can print the email and send a letter, but if you do, it's no longer an email.Quote
Ideally a paper wallet could be created in a manner that prevents anyone from memorizing or recording the private key before it is sealed.
That's not possible. I can print a paper wallet with my eyes closed and seal it, but you'd have to trust me on this. I can setup an automated production line that seals the paper wallets before they come out, but you'd have to trust it doesn't store the private keys. You can watch me burn the production line, but you'd have to trust I didn't use pre-generated private keys. The only way to be sure nobody else knows your private keys, is by generating them by yourself.Quote
I am also exploring a smart contract that guarantees (via escrowed funds and/or multisig) that no funds are released until the BitCheques are opened.
"Smart contracts" always remind me of Ethereum's DAO scam, in which they called the only person who understood the contract "The Attacker", after which they let go of their "code is law" and hardforked it into a centralized shitcoin. Let's not go there with Bitcoin.
The Central African Republic has just declared Bitcoin to be legal tender, but 90% of the population doesn't have ready access to the Internet. I am exploring safe ways to use Bitcoin without having to connect to the Internet for every exchange. Ideally a paper wallet could be created in a manner that prevents anyone from memorizing or recording the private key before it is sealed.
I am also exploring a smart contract that guarantees (via escrowed funds and/or multisig) that no funds are released until the BitCheques are opened.
I am also exploring a smart contract that guarantees (via escrowed funds and/or multisig) that no funds are released until the BitCheques are opened.
Anyone interested?
I'd like to continue this discussion, but you should create another topic for it. If you do, feel free to mention me (@LoyceV)Jump to: