Why is Africa Slow on the Bitcoin Uptake? - page 2.

Sir Cross

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Quote from: Hamstead on October 10, 2017, 03:18:55 PM

Quote from: Anonylz on October 10, 2017, 02:40:35 PM

You must know that Africa is a very difficult country, and most people doesnt even have a computer or a smartphone to access to the internet, so it is pretty impossible for them to have bitcoins in their lifes, and you are expecting to have an advanced technology in there?
It is impossible, africa is quite outdated, only those countries that are rich in there can afford a good living, and access to the internet.

That's right, because of it's limited in resources(money/technology) could take bitcoin into slow movement. This are the most essential needs of bitcoin to run but sadly most African people can't provide this. And of course government can't push them to go through bitcoin because they have nothing. Even if they have money but probably their priorities are to feed and generate income daily.

I don't know much about Africa but from what I heard and know, it is a poor country. They are struggling with poverty because they lack resources such as food and water. I'm guessing their lack on the bitcoin uptake is because of this. Before going into bitcoin adoption, I imagine that their government should first focus on alleviating the poverty and coming up with solutions. They should do something about their resources since they lack in food and water.

CryptosapienZA

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Quote from: farhaan on October 11, 2017, 03:06:01 AM

Even though Africa is a big continent having many countries,we could not forget that most of its countries are backward in economy.Most people are poor and illiterate.More over,internet facility is not widely available there.Bitcoin could not accessed without internet.

Since most people are illiterate,they would not be even familiar with digital transactions.So,definitely,they would be facing problems in using bitcoins.

But since,africa is a big continent,there is a huge scope for bitcoin related business.But,it would take a very long time to come in to reality.

What a loaf of BS. You obviously not only are you ignorant about Africa but you are ignorant about Bitcoin as well. Kenya had been one of the leaders in the world of digital "money" transfers. Google MPESA, there's not even a single country in the whole world that has had 80% of the adult population use digital transfers. Kenya did, that country of illiterates as you have said. Secondly all you need to do a bitcoin transfer is a cellphone and the internet... And most locations in Africa have that.

For adoption to occur in any country or continent people need to find it useful. When I read the forums and listen at how people laugh at those who want to buy coffee with their bitcoin. I am saddened because it means we are a long way to mass adoption. We cannot deny that most of us here in this space are here because those before us showed us the usefulness of bitcoin. It is those 10k pizzas the potential of Bitcoin. MPESA became successful because people in Kenya saw it useful, they could buy groceries and make all sorts of purchases with it.

PS: Africa is not a country.

RodeoX

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I think a lot of you have not been to Africa. It is not what you seem to think. About 25% of Africans have Internet access and in places like S.A., Kenya, and Nigeria, access is about the same as China. Africa is not a "country" it is about 53 countries and they are each different.

Merovius

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Quote from: naf on October 10, 2017, 01:52:00 PM

Besides, our political systems need corruption and banks.

Wow, our political systems actually NEED corruption?! I don't think I have ever heard of that one before -- that is kind of like saying that our bodies somehow need cancer...

farhaan

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Even though Africa is a big continent having many countries,we could not forget that most of its countries are backward in economy.Most people are poor and illiterate.More over,internet facility is not widely available there.Bitcoin could not accessed without internet.

Since most people are illiterate,they would not be even familiar with digital transactions.So,definitely,they would be facing problems in using bitcoins.

But since,africa is a big continent,there is a huge scope for bitcoin related business.But,it would take a very long time to come in to reality.

romero121

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Quote from: Tszunami98 on October 11, 2017, 02:58:38 AM

First of all Africa is slow on food, medical treatment and more important things. I remember i saw a graph once with the average IQ in Africa and there were a lot of countries with the average being 70... mentally retarded by european standards. So there are so many factors involved that is obvious why they are where they are....and the gap keeps gettin wider!

That's the truth, but now due to aid provided from different parts of the world, it has been experiencing good growth in all sectors. Few months back from an article I found the African people getting much into bitcoin usage just because of the ease of transaction. As they have low money value, they suffer a lot to handle cash system, Now this has provided them a way.

Tszunami98

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First of all Africa is slow on food, medical treatment and more important things. I remember i saw a graph once with the average IQ in Africa and there were a lot of countries with the average being 70... mentally retarded by european standards. So there are so many factors involved that is obvious why they are where they are....and the gap keeps gettin wider!

audaciousbeing

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Quote from: real_links on October 10, 2017, 01:30:39 PM

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

Africa is not slow intellectually but the facility to make that available is what is discouraging. Bitcoin will thrive in an environment where some basic things are put in place is reliant on the availability of the internet, technological infrastructure, stable electricity and above all technological education and a drastic change in the archaic believe. If you put all this together, you will realize that a lot of African population are still wallowing in all this while the part of government to make facilities available is nothing to write home about.

However, that does not mean progress is not being made but the development will be a gradual one and dont expect them to be pushed beyond what their capacity can carry.

leisha

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Africa is a continent where tranditions, culture, and old living practices so I think that is why Africa is slow in bitcoin update. They are not that close to the latest technology. They are being native and not dependable to the technology so they are not that updated to this kind of technology.

Scorpion

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We're talking about a continent that lacks the infrastructure for modern technology, internet, and reliable networks we gotta give it time for Africa to come around. I always said though once Africa wakes up it will be like a sleeping giant waking up, they have the potential to propel fast and far beyond our imagination once they tap into their natural resource, renewable energy and build a center for a massive backbone for Bitcoin and the blockchain.

Sadnu

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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

valucash

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Ok let me lay it straight.
Social Reasons
1. Lack of widespread awareness on the potentials of crypto-currency.
2. Few exchanges where you can actually purchase bitcoin. There are only a handful.
3. Past experience - Africans have been scammed by scam coins such as TBC etc and they have had their experience with MMM, so they have learnt to stay away from anything that looks too good to be true.
4. Level of literacy.
5. The exchange rate of local currency to a bitcoin, makes it a very expensive venture for most Africans

Infrastructural Reasons
1. Lack of Good Internet connection
2. Stable Electricity

Governmental Regulations
1. Some countries frown at Cryptocurrency
2. Banks have been warned not to trade in them
3. Exchanges have had their bank account frozen and later released

Ok add yours...

Pearls Before Swine

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Quote from: hypersonic1 on October 10, 2017, 01:50:53 PM

Many countries in Africa don't even have power

That's the first thing I thought of, though I have absolutely no first hand knowledge of what
life is like in a typical African country. The whole continent isn't poor, I assume, but I profess
general ignorance of such matters. I do strongly suspect that IF this is indeed the case, that they're
slow on the uptake, it's because of a general lack of technological progress. Not that I think that
most Africans are still hunting wild game with spears for their dinner every night, but if you have a
problem with poverty, with obtaining money in general, bitcoin comes very low down on the list of
priorities.

But on the other hand, I do wonder if at least some of the scammers we see in bitcoin come from
there. Nigeria in particular is notorious for their scams. The whole African prince thing. I think
that's probably the case.

ivrynx

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If we consider the geography of africa it is slow to uptake Bitcoin since most countries don't even have access to Internet, and some countries who do have internet, would rather make time to earn a living instead of learning about Bitcoin and what it can give to them. Let's take Egypt and South Africa, bout countries have access to the internet, but it does not compensate with the whole of the continent. I think if Africa would be more like Asia, they could have a huge number of Bitcoin users as well. In the future we might see Africa to be advanced as well, considering the aide it is receiving from it's neighboring countries, I think time will tell, when Africa will have majority of it's people to have access with the internet and Bitcoin as well, we could never tell, there might be a Warren buffet in the making.

Allan Ramanda

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as we all know, it is not my intention to talk about the country of people, but Africa is a country that has a low enough insight to information and technology in the highly developed times of today. I think that's the main cause of all this.

susila_bai

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Quote from: real_links on October 10, 2017, 01:30:39 PM

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

I think this is because of political problems in that continent as we can see that due to political politicians are fully corrupt and they dont want their continent public should know much about outside world so that if they get educated they can throw them out. So they know if Bitcoin is implemented they cannot corrupt the system and earn benefits.

robbietobby

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Basically you cannot thrive within their culture and how time changes their belief, anthropologically speaking. Anyone believes that Africa might be unreachable with internet connections to input bitoins on their daily living. As if people who are wealthy can afford communication without intermittent connection. And I guess is possible to become slower on the btc uptake yet produces high income rate.

cybersofts

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Quote from: real_links on October 10, 2017, 01:30:39 PM

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

African countries have a lot of financial problems. People are struggling for what they want to eat.
Even if a person want to buy and use bitcoin in Africa there are not much cryptocurrency exchanges.
I was reading some article few days ago - I read some article saying, bitcoin sells for $7000 USD in Tanzania.
The cryptocurrency exchanges that operates in Africa are asking for more than what people are willing to buy.
So many things going on down there, you guys should leave Africa alone for now. Grin

Simple_Man

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Quote from: real_links on October 10, 2017, 01:30:39 PM

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

Africa holds a majority of the world's gold and diamond reserve naturally. But still due to pathetic infrastructure and political un-stability makes it a most financially weak continent. Also internal war and terrorism is a big issue with them. Due to all these situations, the growth of Africa is less compared to other continents in all sectors. Bitcoin is no exception. The basic requirements of a decent living are not fulfilled in many areas of Africa, leave alone the computer literacy. That is the major reason for the slow growth of bitcoin in Africa. To earn and handle bitcoin, you need to be a computer savy person which is a distant dream to many africans. Sad but true!

bitbunnny

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It seams that the answer is pretty simple, lack of technology resources, interest connection and education. But on the other hand, Africa is one of the continents with the largest number of mobile phones per inhabitant so for that reason availability of Bitcoins shouldn't be the problem.
But we mustn't forget that Africa is part of third world countries with lot of poverty and lack of resources so Bitcoin is probably the last thing people there think about.

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