Why Bitcoin Matters for Africa
ariannasimpson.com
Why Bitcoin Matters for Africa
1–10 of 45 posts
Re: Why Bitcoin Matters for Africa
#2The GPU's burden. Infrastructure intense script kiddie toy currency to enlighten technically deprived cultures of Africa. Funny how Africa's problems will enrich the hoarding kiddies.
Re: Why Bitcoin Matters for Africa
#3Hard to take this article seriously when the first few paragraphs are talking about the hyperinflation of the currency of Zimbabwe, then trying to rectify that with bitcoin, which can fluctuate hundreds of USD in the span of a couple of hours.
It specifically mentions M-Pesa, which is already used by the majority of the continent, but trying to improve and go all-in on something established and accepted like that wouldn't be web 2.0 enough.
Re: Why Bitcoin Matters for Africa
#4Hard to take this article seriously when the first few paragraphs are talking about the hyperinflation of the currency of Zimbabwe, then trying to rectify that with bitcoin, which can fluctuate hundreds of USD in the span of a couple of hours. It specifically mentions M-Pesa, which is already used by the majority of the continent, but trying to improve and go all-in on something established and accepted like that wou…
You could actually use bitcoin essentially as the payment "rails" for a transaction, so that people don't hold bitcoin and immediately then convert back into local currency, and therefore get around the price changes. Companies like coinbase already allow merchants to do this. Also, bitcoin prices will stabilize over time & as more people use the currency.
Re: Why Bitcoin Matters for Africa
#5This article was well written and thought provoking, but the title should be changed to "Why Bitcoin Matters for Zimbabwe."
The current title makes the article sound like a generalization about all the economies in a continent.
Re: Why Bitcoin Matters for Africa
#6Hard to take this article seriously when the first few paragraphs are talking about the hyperinflation of the currency of Zimbabwe, then trying to rectify that with bitcoin, which can fluctuate hundreds of USD in the span of a couple of hours. It specifically mentions M-Pesa, which is already used by the majority of the continent, but trying to improve and go all-in on something established and accepted like that wou…
I also found it a bit hard to swallow. The article mentions entire towns without access to electricity. Its hard to imagine a digital currency being preferable in those conditions.
Re: Why Bitcoin Matters for Africa
#7Hard to take this article seriously when the first few paragraphs are talking about the hyperinflation of the currency of Zimbabwe, then trying to rectify that with bitcoin, which can fluctuate hundreds of USD in the span of a couple of hours. It specifically mentions M-Pesa, which is already used by the majority of the continent, but trying to improve and go all-in on something established and accepted like that wou…
My understanding is that M-Pesa is used in Kenya and Tanzania, which mathematically can't be the majority of the continent.
M-Pesa uses local currencies, which frequently lose their value in non-OECD countries.
Re: Why Bitcoin Matters for Africa
#8Hard to take this article seriously when the first few paragraphs are talking about the hyperinflation of the currency of Zimbabwe, then trying to rectify that with bitcoin, which can fluctuate hundreds of USD in the span of a couple of hours. It specifically mentions M-Pesa, which is already used by the majority of the continent, but trying to improve and go all-in on something established and accepted like that wou…
My understanding is that M-Pesa is used in Kenya and Tanzania, which mathematically can't be the majority of the continent. M-Pesa uses local currencies, which frequently lose their value in non-OECD countries.
I should have qualified above with something like e-currency.
> M-Pesa uses local currencies, which frequently lose their value in non-OECD countries.
The outrageous swings of bitcoin hour by hour have the same issue. I don't see how using the USD, like Zimbabwe did to prevent inflation coupled with M-Pesa wouldn't be a better solution if you are suggesting the country move to a new system.
Re: Why Bitcoin Matters for Africa
#9Hard to take this article seriously when the first few paragraphs are talking about the hyperinflation of the currency of Zimbabwe, then trying to rectify that with bitcoin, which can fluctuate hundreds of USD in the span of a couple of hours. It specifically mentions M-Pesa, which is already used by the majority of the continent, but trying to improve and go all-in on something established and accepted like that wou…
She lost me when she said Yugoslavia was a continent, also Yugoslavia doesn't exist anymore.
Re: Why Bitcoin Matters for Africa
#10BS...