Topic: Why is Africa Slow on the Bitcoin Uptake? (Read 1035 times)
Every technological eruption normally start from developed country. It usually take time for developing and underdeveloped country to embrace technological innovation because they lack some necessary amenities.
There are masses of potential for Bitcoin in Africa. It’s a monetary system for the unbanked, it’s trustless and far less corruptible, and it can create a new monetary system where there’s no long legacy of banking and financials.
However, across the continent, in different countries, the uptake has been surprisingly slow. From South Africa and Nigeria, as the biggest players in Bitcoin, to smaller nations like Tanzania who are seeing big growth, but with small numbers.
https://cointelegraph.com/news/why-is-africa-slow-on-the-bitcoin-uptake
The slow rate of Bitcoin uptake in Africa is not because people are not interested in its varied potential and benefits; however many are joining the Bitcoin Community due to the following reasons:However, across the continent, in different countries, the uptake has been surprisingly slow. From South Africa and Nigeria, as the biggest players in Bitcoin, to smaller nations like Tanzania who are seeing big growth, but with small numbers.
https://cointelegraph.com/news/why-is-africa-slow-on-the-bitcoin-uptake
1. Poor internet access- many folks in Africa hardly get access to the internet. Unlike some advanced economies where every citizen have access to a strong networks, most communities in Africa don't even have electricity let alone thinking of accessing something online.
2. Less trust and understanding in advent of crytocurrencies
3. Low technological advancement
Africa is a poor country ....
Africa is a continent not a country
first of all Africa is a whole continet with over 54 countries. to always talk say Africa is a dark continet in any argument is just lazy and a narraive that has been propelled for a long period of time. There are differen developments in differen countries. ofcourse, we have infrasrucural challenges such as electrcity and internet, but if you look closely you wil see the coninent is moving albit slowly. Africa has the youngest population who are hungry to take on the world. If you continue to ignore the potential you will be surpised. already there are a lot of developments in specific African countries. they are not just beimh broadcased in the mainstream media like the case of say Europe, USA or Asia.
have you heard about Bitpesa in Kenya?
BitFinance in Zimbambwe https://qz.com/1021155/bitcoin-is-being-taken-up-in-zimbabwe-nigeria-south-africa-and-venezuela-among-developing-countries/
how about PIPCOIN? https://steemit.com/crypto-news/@watchman/pipcoin-africa-s-first-crypto-currency-1-9-million-users-in-5-months.
The African revolution is unfolding but if countine rely on mainstraem media to tell you positive stories from Africa, you will have to wait a bit longer.
have you heard about Bitpesa in Kenya?
BitFinance in Zimbambwe https://qz.com/1021155/bitcoin-is-being-taken-up-in-zimbabwe-nigeria-south-africa-and-venezuela-among-developing-countries/
how about PIPCOIN? https://steemit.com/crypto-news/@watchman/pipcoin-africa-s-first-crypto-currency-1-9-million-users-in-5-months.
The African revolution is unfolding but if countine rely on mainstraem media to tell you positive stories from Africa, you will have to wait a bit longer.
Yeah, sorry but all that is true.
Africa is (excepting a few countries) stuck in the stone age.
I recommend you to watch a movie, (you can find it on youtube) , it's called "Empire of Dust". It pretty much show everything that is wrong with the people there, the infrastructure, the bureaucracy, the mistrust, the laziness
Now , let's go through your examples:
1. Pipcoin , nice coin, too bad is a SCAM
https://www.fin24.com/Finweek/Featured/beware-pipcoins-promises-20160811
2. The article is so vague there are no number no nothing so lets' do a bit of research
There are 18 full nodes in RSA and none of the rest have above 2. Poland alone has more than double the nodes of entire Africa.
Can you name one business that has emerged from Africa?
Cause I can name you a lot that failed, remember Kipochi? AYPC ? Bitpesa has lost a costly lawsuit and is done for.
One example of how Africa countries deal with Bitcoins is Morocco. Forbidden there. Bitcoin could help those countries, but their governments won't let it happen. It's interesting for the governments there to let people starve and stay poor forever. This way they can take money from first world countries who send donations and enjoy their mahjarrat lives. The main problem isn't that, the real problem is that people there aren't united and idealist to change the situation.
Most countries in Africa are among the developing countries, therefore not all people can afford the equipment for using bitcoin. Although I was inferior that in some countries they took the crypto currency to avoid theft.
It is a matter of choice mind you Africa is picking up as far bitcoin is concern
Not everyone has the knowledge of bitcoin. In Africa, many countries is poor, underdeveloped, people have no internet conditions, so those who know about bitcoins are very few.
Africa is a poor country with the minimum wage per
day is lower than $1, most don't even have access
to basic necessities such as health, education etc.
How do you expect them to be "fast" on the bitcoin
uptake if most of them don't even have access to
the internet?
day is lower than $1, most don't even have access
to basic necessities such as health, education etc.
How do you expect them to be "fast" on the bitcoin
uptake if most of them don't even have access to
the internet?
There are masses of potential for Bitcoin in Africa. It’s a monetary system for the unbanked, it’s trustless and far less corruptible, and it can create a new monetary system where there’s no long legacy of banking and financials.
There are masses of potential for Bitcoin in Africa. It’s a monetary system for the unbanked, it’s trustless and far less corruptible, and it can create a new monetary system where there’s no long legacy of banking and financials.
However, across the continent, in different countries, the uptake has been surprisingly slow. From South Africa and Nigeria, as the biggest players in Bitcoin, to smaller nations like Tanzania who are seeing big growth, but with small numbers.
https://cointelegraph.com/news/why-is-africa-slow-on-the-bitcoin-uptake
However, across the continent, in different countries, the uptake has been surprisingly slow. From South Africa and Nigeria, as the biggest players in Bitcoin, to smaller nations like Tanzania who are seeing big growth, but with small numbers.
https://cointelegraph.com/news/why-is-africa-slow-on-the-bitcoin-uptake
Perhaps the rate of computer and technology literacy in Africa is low. This is one of the main reason why bitcoin is not progressive in a particular area. If given enough knowledge and background about it, I'm sure it will be easy.
My teacher always told me that there aren't any dumb questions.
This is one.
This is one.
They might just not know, just answer the question. people learn different ways.
first of all Africa is a whole continet with over 54 countries. to always talk say Africa is a dark continet in any argument is just lazy and a narraive that has been propelled for a long period of time. There are differen developments in differen countries. ofcourse, we have infrasrucural challenges such as electrcity and internet, but if you look closely you wil see the coninent is moving albit slowly. Africa has the youngest population who are hungry to take on the world. If you continue to ignore the potential you will be surpised. already there are a lot of developments in specific African countries. they are not just beimh broadcased in the mainstream media like the case of say Europe, USA or Asia.
have you heard about Bitpesa in Kenya?
BitFinance in Zimbambwe https://qz.com/1021155/bitcoin-is-being-taken-up-in-zimbabwe-nigeria-south-africa-and-venezuela-among-developing-countries/
how about PIPCOIN? https://steemit.com/crypto-news/@watchman/pipcoin-africa-s-first-crypto-currency-1-9-million-users-in-5-months.
The African revolution is unfolding but if countine rely on mainstraem media to tell you positive stories from Africa, you will have to wait a bit longer.
have you heard about Bitpesa in Kenya?
BitFinance in Zimbambwe https://qz.com/1021155/bitcoin-is-being-taken-up-in-zimbabwe-nigeria-south-africa-and-venezuela-among-developing-countries/
how about PIPCOIN? https://steemit.com/crypto-news/@watchman/pipcoin-africa-s-first-crypto-currency-1-9-million-users-in-5-months.
The African revolution is unfolding but if countine rely on mainstraem media to tell you positive stories from Africa, you will have to wait a bit longer.
Maybe one of the reasons why the upstakes in africa bitcoins are slow because of their country's poverty. Therefore, they are lacking in order to adopt it. One of the reasons I'm also concerned about is the lack of information that people need to know about in the crypto
My opinion is not intended to look down some people in africa but i think i will agree the above quotes that most of their society is not aware in internet activities as bitcoin is a cryptocurrency that needs computer or any gadget that capable of surfing on internet and maybe due to some of their society is having low knowledge in computer technology. 
Its pretty obvious that this continent is really slow because its very populous, and only a few countries has really a good access to internet, others is lucky if they have smart phones on their wallet. However, just like any country there will be a time that Africa can catch up with regards to bitcoin adoption. Its that the continent today has so many problems that internet may be not the priority of their government. Just look at google trends:
https://trends.google.com/trends/explore?q=bitcoin
I'm seeing 3 out of the 5 countries are from Africa searching for bitcoin. So it will just be a matter of time because everyone in that continue will see and used bitcoin. Probably in 2018 Africa will be the next continent to make significant jump on bitcoin usage.
https://trends.google.com/trends/explore?q=bitcoin
I'm seeing 3 out of the 5 countries are from Africa searching for bitcoin. So it will just be a matter of time because everyone in that continue will see and used bitcoin. Probably in 2018 Africa will be the next continent to make significant jump on bitcoin usage.
The slow pace of development in Africa is hindering it's technological advancement which invariably causes loss of opportunities in term of income.
There is presently so many bitcoin online paying Jobs opportunities that has eluded Africans due to some challenges facing them like unavailability of electricity and Internet.
To overcome this challenges the government should put in place all the necessary infrastructures so as to meet with other advanced continents.
There is presently so many bitcoin online paying Jobs opportunities that has eluded Africans due to some challenges facing them like unavailability of electricity and Internet.
To overcome this challenges the government should put in place all the necessary infrastructures so as to meet with other advanced continents.
There are masses of potential for Bitcoin in Africa. It’s a monetary system for the unbanked, it’s trustless and far less corruptible, and it can create a new monetary system where there’s no long legacy of banking and financials.
However, across the continent, in different countries, the uptake has been surprisingly slow. From South Africa and Nigeria, as the biggest players in Bitcoin, to smaller nations like Tanzania who are seeing big growth, but with small numbers.
https://cointelegraph.com/news/why-is-africa-slow-on-the-bitcoin-uptake
However, across the continent, in different countries, the uptake has been surprisingly slow. From South Africa and Nigeria, as the biggest players in Bitcoin, to smaller nations like Tanzania who are seeing big growth, but with small numbers.
https://cointelegraph.com/news/why-is-africa-slow-on-the-bitcoin-uptake
The rate of development of countries in Africa cannot be compared with other countries and trying to make them at par, will only result in making uninformed decision. While a lot of countries in advanced world got their independence for centuries counting, large number of African countries are o my counting decades which shows the path to development is not the same. The same issues Africa countries are grappling with are those that have been settled several years ago by the advanced world. So, they are not slow, but only moving at what their pace can carry.
Internet usage penetration would be a contributing factor. Aside from not having the hardware to transact, i would say that a large portion of the population in Africa does not even know about the concept, and if they do, without access to material about it, has no idea what it does or how. This will all of course change over time.
This because it's a third world continent. There is a lack of infrastructure and education.
I don't think this problem is only Africa's problem. As a continent, yea, Africa might be behind in the BTC race, but as countries, there are countries like Nigeria, South Africa who might be more involved than many other non African countries.
One of the reasons might be lack of equipment, electricity( If you dont have it, even if you own BTC you wont make any transaction unless you move).
One of the reasons might be lack of equipment, electricity( If you dont have it, even if you own BTC you wont make any transaction unless you move).
Well Africa is a continent made up of unfortunately very poor countries. I think most small villages in Africa do not even have electricity or running water. For some tribes something like Bitcoin is just not imaginable in their culture. I agree that it would be a great solution for the whole continent but despite many families being too poor to afford the equipment (smartphones, computer, internet, electricity) it is culturally not possible for many either.
Jump to: