Poverty here is really that.......poverty. The townships are rough...8 or more people living in a single room shack with no running water and stolen electricity and outhouses. But they got a satellite dish.....go figure. Those with proper houses are lucky.
Unfortunately the ones that know about Bitcoin are the ones making a fair amount already...most of the rural people living in the townships don't know how to work a computer let alone invest in Bitcoin. But the generation of kids now are learning...so there is hope.
And when you have mouths to feed and only get paid R800 a month or R1500 if you lucky...investing in Bitcoin is going to take awhile. Specially if you don't have internet. I've supplied several computers and support for internet cafes in rural townships so its there but not quite as easy as you make it.
Topic: South Africa vs Bitcoin (Read 175 times)
Is it true that South Africans is cashing in on bitcoin?
Do South Africans really makes more money as Bitcoin to ZAR prices as very good?
Do South Africans really makes more money as Bitcoin to ZAR prices as very good?
Not only south africans but literally all people who indevoured in bitcoin love it. Yet in south africans they are longing to get out off the slump of life and that is poverty. Given a chance to invest in bitcoin makes the feel secured in life. Hopefully many other countries will accept bitcoin in their governance to help the needy people in the nation.
This week, Bitcoin's price exceeded $ 19,000 on world exchanges, with the exception of one continent - Africa. Customers of the second largest and second largest population in the world in the world already bought Bitcoin at this price in November. On average, prices on the largest African exchange Golix.com were higher by 40% than the world average. Bitcoin.com decided to figure out what caused such a difference in price.
South Africans is enjoying every second that bitcoin is growing.
Is it true that South Africans is cashing in on bitcoin?
Do South Africans really makes more money as Bitcoin to ZAR prices as very good?
I think they are currently taking a different approach towards the development of their countries. Majority of the people thinks that south africa might not be financially capable as to most countries but that would be an understatement towards them. Some part of it probably yes but not as a whole nation. So I believe that this move from them would help them towards their growth and development. How I wish our country would also do this. Do South Africans really makes more money as Bitcoin to ZAR prices as very good?
BTC can grown all country
I think it can common in 2018
I think it can common in 2018
The most active use of bitcoin in South Africa is its use by investors, as an asset for the storage of funds. It has already been officially confirmed that a significant number of investors and funds allocate part of their portfolio to bitcoin. This allows companies, such as BitX, to provide crypto currency, wallet and bitcoin storage services.
Africa's biggest cryptocurrency exchange is located in South Africa:
http://money.cnn.com/2018/02/14/technology/bitcoin-luno-billion-users/index.html
I.5 million customers is not bad.
http://money.cnn.com/2018/02/14/technology/bitcoin-luno-billion-users/index.html
Quote
Luno, founded in South Africa in 2013, has plans to become one of the leading cryptocurrency traders in the world.
The company is planning to grow its team of 70 employees to 300 over the next six months.
Swanepoel, a former investment banker, say Luno was the first company in Africa to offer cryptocurrency trading.
It has enjoyed runaway growth since then, and now has 1.5 million customers in 40 countries, mostly emerging markets.
The company is planning to grow its team of 70 employees to 300 over the next six months.
Swanepoel, a former investment banker, say Luno was the first company in Africa to offer cryptocurrency trading.
It has enjoyed runaway growth since then, and now has 1.5 million customers in 40 countries, mostly emerging markets.
I.5 million customers is not bad.
I think Africa is one of the best places in the world for mining bitcoin. It's hot, dry, lack of normal infrastructure. Power outage is a daily occurrence in many parts of the continent, which makes Africa completely unsuitable for mining.
South Africa was the "Rainbow" nation until corruption in government nearly destroyed it.
I have to agree with OP, that Bitcoin in South Africa is huge. I recently saw this article, which confirms this : https://mybroadband.co.za/news/cryptocurrency/244723-south-africans-are-selling-their-cars-for-bitcoin.html
I work in Nigeria on a project for my company at the moment, but I fly to South Africa and then travel through Africa for work. South Africa is definately a mix between first world and third world at the moment and Nigeria is currently the economic hub in Africa. < M-Pesa is huge here >
I hope the change in government will once again restore South Africa to the nation is was, when Mr. Mandela took over and even before that. < I seriously doubt that >
Bitcoin can make a difference, but the people there must take charge to facilitate these changes.
ps. My profile name was given to me by a South African working with me at our Head Office in my hometown abroad. ^lol^
I have to agree with OP, that Bitcoin in South Africa is huge. I recently saw this article, which confirms this : https://mybroadband.co.za/news/cryptocurrency/244723-south-africans-are-selling-their-cars-for-bitcoin.html
I work in Nigeria on a project for my company at the moment, but I fly to South Africa and then travel through Africa for work. South Africa is definately a mix between first world and third world at the moment and Nigeria is currently the economic hub in Africa. < M-Pesa is huge here >
I hope the change in government
Bitcoin can make a difference, but the people there must take charge to facilitate these changes.
ps. My profile name was given to me by a South African working with me at our Head Office in my hometown abroad. ^lol^
Is it true that South Africans is cashing in on bitcoin?
Do South Africans really makes more money as Bitcoin to ZAR prices as very good?
South Africa is the cryptocurrency capital of the whole of Africa and the people there are making a lot of money with cryptos and mostly because their utility tariffs are very low.Do South Africans really makes more money as Bitcoin to ZAR prices as very good?
I'm sorry......you have to check your facts sir.....
1. SA has one of worlds most expensive telecoms prices....in the world....was 3rd or 2nd most expensive.
2. Electricity used to be cheap....notice that word "used" to be....electricity has gone up over 400% in the last 8-10 years? You can check facts here:http://www.poweroptimal.com/infographic-eskom-tariff-increases-vs-inflation-since-1988-projections-2017/
3. Road tax at tollgates and on petrol is way over normal. (Just look at the E-Toll farce.....)
Its not easy to make money here....average salary is around R3000 to R6000.......to rent a 2 bedroom house will cost you that.....never mind electricity,food,petrol(gas),school fees....need I go on? Please check your facts.
I don't know if you can call us the capital....Nigeria, Botswana also have loads of money......the people I know made have lots of money purely because they got into BTC early....like 2012 early.
Wish I also did
[True what he is saying, and on top of that we actually pay a bit more for BTC if you use LUNO to purchase it. Depending on the area you live in a 2 bedroom house can actually cost way more than R6000 to rent.
I doubt that the fact that our president resigned has any impact on BTC here, the RAND will strengthen meaning our BTC is actually worth less as it trades in BTC/USD and BTC/RAND.
When it comes to being the BTC capital of Africa i might agree and if not it soon will be. We are still far behind and a lot of people don't know much about BTC or even that alt coins exist. Listened to a radio conversation where the guy said that there are only 1000 coins available here, which shows you even though they think they know they don't.]
Yep...thats why I dont use Luno...I use a different one.
Yes of course it costs more in certain areas......I was generalising.....I used to own a flat in Durban and was renting it out and max I could get was R4500 for it....nice two bedroom place in Glenwood....back in 2011-2012...now when I looked at renting a two bedroom place in Glenwood....its R6500 to R8000. Ridiculous!
As I said...its slowly becoming a household name...lots of people have heard of it...but still not entirely sure what its all about. lol @ 1000 coins left....was that Eastcoast or 5FM??
Is it true that South Africans is cashing in on bitcoin?
Do South Africans really makes more money as Bitcoin to ZAR prices as very good?
That's not a logical question. For example, if bitcoin is several times more expensive than ETH, should those people who trade bitcoins make more money? I think you should read the financial literature. Do South Africans really makes more money as Bitcoin to ZAR prices as very good?
Is it true that South Africans is cashing in on bitcoin?
Do South Africans really makes more money as Bitcoin to ZAR prices as very good?
South Africa is the cryptocurrency capital of the whole of Africa and the people there are making a lot of money with cryptos and mostly because their utility tariffs are very low.Do South Africans really makes more money as Bitcoin to ZAR prices as very good?
I'm sorry......you have to check your facts sir.....
1. SA has one of worlds most expensive telecoms prices....in the world....was 3rd or 2nd most expensive.
2. Electricity used to be cheap....notice that word "used" to be....electricity has gone up over 400% in the last 8-10 years? You can check facts here:http://www.poweroptimal.com/infographic-eskom-tariff-increases-vs-inflation-since-1988-projections-2017/
3. Road tax at tollgates and on petrol is way over normal. (Just look at the E-Toll farce.....)
Its not easy to make money here....average salary is around R3000 to R6000.......to rent a 2 bedroom house will cost you that.....never mind electricity,food,petrol(gas),school fees....need I go on? Please check your facts.
I don't know if you can call us the capital....Nigeria, Botswana also have loads of money......the people I know made have lots of money purely because they got into BTC early....like 2012 early.
Wish I also did
[True what he is saying, and on top of that we actually pay a bit more for BTC if you use LUNO to purchase it. Depending on the area you live in a 2 bedroom house can actually cost way more than R6000 to rent.
I doubt that the fact that our president resigned has any impact on BTC here, the RAND will strengthen meaning our BTC is actually worth less as it trades in BTC/USD and BTC/RAND.
When it comes to being the BTC capital of Africa i might agree and if not it soon will be. We are still far behind and a lot of people don't know much about BTC or even that alt coins exist. Listened to a radio conversation where the guy said that there are only 1000 coins available here, which shows you even though they think they know they don't.]
Is it true that South Africans is cashing in on bitcoin?
Do South Africans really makes more money as Bitcoin to ZAR prices as very good?
South Africa is the cryptocurrency capital of the whole of Africa and the people there are making a lot of money with cryptos and mostly because their utility tariffs are very low.Do South Africans really makes more money as Bitcoin to ZAR prices as very good?
I'm sorry......you have to check your facts sir.....
1. SA has one of worlds most expensive telecoms prices....in the world....was 3rd or 2nd most expensive.
2. Electricity used to be cheap....notice that word "used" to be....electricity has gone up over 400% in the last 8-10 years? You can check facts here:http://www.poweroptimal.com/infographic-eskom-tariff-increases-vs-inflation-since-1988-projections-2017/
3. Road tax at tollgates and on petrol is way over normal. (Just look at the E-Toll farce.....)
Its not easy to make money here....average salary is around R3000 to R6000.......to rent a 2 bedroom house will cost you that.....never mind electricity,food,petrol(gas),school fees....need I go on? Please check your facts.
I don't know if you can call us the capital....Nigeria, Botswana also have loads of money......the people I know made have lots of money purely because they got into BTC early....like 2012 early.
Wish I also did
Is it true that South Africans is cashing in on bitcoin?
Do South Africans really makes more money as Bitcoin to ZAR prices as very good?
South Africa is the cryptocurrency capital of the whole of Africa and the people there are making a lot of money with cryptos and mostly because their utility tariffs are very low.Do South Africans really makes more money as Bitcoin to ZAR prices as very good?
Yeah SA is doing great , Actually 2018 hasn’t really been a great year for cryptocurrency traders so far. However, despite these controversies and controversial elements, Africa’s Luno - the first cryptocurrency exchange to open up in the continent is confident of their long-term success.
Luno, founded in South Africa in 2013, has plans to become one of the leading cryptocurrency traders in the world.
CEO and founder Marcus Swanepoel has a goal that would leave many bigger companies in the shade: 1 billion customers by 2025.
Luno, founded in South Africa in 2013, has plans to become one of the leading cryptocurrency traders in the world.
CEO and founder Marcus Swanepoel has a goal that would leave many bigger companies in the shade: 1 billion customers by 2025.
Quote
"There are very few industries in the world for which you could say that is a reachable goal, but because bitcoin is so open and global, it is really an achievable goal. We're excited to pursue it," he said.
And that is the first Bitcoin exchange in South Africa. So Its good for Bitcoin , Good for South Africa , Good For our Future. 
I think south africa can be a role model on the African continent, should south africa be a bitcoin connector with the African continent. I am sure the passion of cryptocurrency in Africa is very good.
Is it true that South Africans is cashing in on bitcoin?
Do South Africans really makes more money as Bitcoin to ZAR prices as very good?
South Africa is the cryptocurrency capital of the whole of Africa and the people there are making a lot of money with cryptos and mostly because their utility tariffs are very low. Do South Africans really makes more money as Bitcoin to ZAR prices as very good?
That is not the new president......
This is: https://www.youtube.com/watch?v=q11UYKrFy1Y
Yes of course the government want to get their hands on more money......
Fully half of the financial budget of the country went missing due to "mismanagement of funds".....and now they want to tax honest crypto traders like myself who pay enough damn tax from salaries to electricity and everything in-between.....but that's what the people voted for.
This is: https://www.youtube.com/watch?v=q11UYKrFy1Y
Yes of course the government want to get their hands on more money......
Fully half of the financial budget of the country went missing due to "mismanagement of funds".....and now they want to tax honest crypto traders like myself who pay enough damn tax from salaries to electricity and everything in-between.....but that's what the people voted for.
I have read somewhere that family of your new President are involved in Crypto currencies. He is working on some ICO in
the USA, but I do not know a lot about it. I think this is him --> https://www.youtube.com/watch?v=z2My-ELpI4c
My friends also informed me that the South African government has started with a project to study the impact of Crypto
currencies on their local economy and how to properly regulate it. You can expect some regulation on Crypto currencies
before the end of this year. Let's hope Tumelo Ramaphosa will help these guys not to over regulate Crypto currencies. If
they can take the same approach as the Japanese government, then the South African economy will get a huge boost.
the USA, but I do not know a lot about it. I think this is him --> https://www.youtube.com/watch?v=z2My-ELpI4c
My friends also informed me that the South African government has started with a project to study the impact of Crypto
currencies on their local economy and how to properly regulate it. You can expect some regulation on Crypto currencies
before the end of this year. Let's hope Tumelo Ramaphosa will help these guys not to over regulate Crypto currencies. If
they can take the same approach as the Japanese government, then the South African economy will get a huge boost.
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