South Africa, Bitcoin Adoption and the Mavrodi Effect?

tmfp

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"Common rogue from Russia with a bare ass."

Quote from: GermanGiant on March 01, 2016, 12:45:12 PM

Quote from: tmfp on March 01, 2016, 12:38:48 PM

South Africa had essentially zero Bitcoin activity before MMM arrived.
Coincidence?

Bitcoin (and even FIAT) has always been benefited by various ponzis, but unfortunately the contribution of ponzi lords have never been recognized.

Something which CMS would like to see remedied, no doubt?

But sure, just like guns themselves don't kill people, other people do, so currencies themselves don't rip people off, other people do.
Is that the future for Satoshi's project then, enabling thieves and liars?
I guess in a world which is more fractious, selfish and intolerant day after day, that would be truly visionary...
Sad

GermanGiant

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Quote from: tmfp on March 01, 2016, 12:38:48 PM

South Africa had essentially zero Bitcoin activity before MMM arrived.
Coincidence?

Bitcoin (and even FIAT) has always been benefited by various ponzis, but unfortunately the contribution of ponzi lords have never been recognized.

tmfp

legendary

Activity: 1932

Merit: 1737

"Common rogue from Russia with a bare ass."

From http://bitcoinist.net/localbitcoins-volume-south-africa-shows-50-fold-growth-one-year/

Quote

At the time of publication (2/29), LocalBitcoins reached a weekly volume of 12 million South African Rand in the past week. This is quite an increase compared to the last week of February in 2015, as the volume then was sitting at 251,254 Rand. To put this into numbers people can relate to, the LocalBitcoins volume in ZAR increased from US$16,624.66 per week to US$746,240.43 in less than one year.

In that same period, MMM RSA started taking off.
Originally the fiat version, but now that the SA banks led by Capitec have started being awkward about large cash transactions, more and more activity is shifting to MMMGlobal (bitcoin only), especially with the extra Magic Money available in that version.
$750,000 per week of bitcoin being bought, probably by newcomers...doesn't do the price rise any harm.

South Africa had essentially zero Bitcoin activity before MMM arrived.
Coincidence?

Topic: South Africa, Bitcoin Adoption and the Mavrodi Effect? (Read 422 times)