Bitcoin Ter Kenya – Documentary – IamSatoshi
Bitcoin is a world of international finance that is encrypted and peer to peer. Bitcoin spil the object of my investigate, leads to rente ter cultural and financial networks. Spil a non-centralised form of money, people on the Internet, with an application download, can instantly become playmates te a global economy, with the lowest fees and no third-party controls.
The region of East Africa is the world’s most expensive for remittances [transfer of money by a foreign worker to an individual te huis country], because of factors such spil limited competition and regulatory barriers. Ter Kenya, where overseas money transfers represent Three procent of the country’s GDP and, 46 procent of financial transactions are treated with mobile phones, I have identified a case examine for exploring Bitcoin’s viability spil a financial contraption.
Kenyans have mobile money embedded into their daily lives and, lead the world te mobile money innovation. The country has bot on the forefront since the 2007 launch of M-Pesa, the M is for “mobile”, Pesa is Swahili for “money.” What wasgoed originally conceived spil an efficient method to make payments on micro-loans has bot rapidly adopted by Kenyans spil a way to send money from urban centres back to rural areas. Almost two thirds of the local unbanked [under-banked], population use the service.
I desired to learn if Bitcoin could rail M-Pesa’s success of explaining mobile money. After my very first duo of days outside of Nairobi, I understood that M-Pesa’s greatest achievement is its vast network of agents, reaching 70,000 at the time of writing.
One of the things that the movie cannot do justice to ter the time available, but is also part of M-Pesa’s successful story, analysts suggest the violence te 2008 wasgoed a critical accelerator for the service. During the post-election violence, M-Pesa wasgoed used by urband dwellers to send money to relatives trapped te the home-towns and slums. Another controversial reason [which is represented te the movie],being the applied research, the Kenyan journey exposed that M-Pesa’s innovator [Safaricom Mobile Provider], succeeded because of its status spil a monopoly. This ensured the investment ter technology, where an juut network wasgoed protected, lead to an effortless dominance of the mobile money transfer industries.
Bitcoin Te Kenya’s style is framed by an investigative treatment to expose Bitcoin spil a global digital currency, spil well spil a ground-breaking technology. It is a journey inbetween rural-unbanked Kenya to Nairobi’s technological start-up hub. This wasgoed a lived practice, an invaluable addition to my research about global finance on a specific, local level.
Bitcoin Will Work ter Kenya – and infact Bitcoin and Mpesa will work forearm te
arm for a while until Bitcoin use is more widespread.
Bitcoin solves a Major punt te Kenya that involves the lower Middleclass.
The kwestie of networking systems. Thesis systems are not accepted by the Kenya
Central Handelsbank and yet they are Enormously popular. It is ONLY a matter of time
before all the networks te Kenya begin using Bitcoin.
The thing is – I feel, it is abit much to ask us the so called
“Disadvantaged” to buy Bitcoins with our meager resources. I feel
that the Bitcoin Community needs to find a way of getting Bitcoins to us.
I have a suggestion that does NOT involve charity but equal chance. It
is “unorthodox” but so is Bitcoin. I wrote a detailed article spil
Bitcoin Will Work ter Kenya. Wij have commenced on getting it to work. HOW? Many
Kenyans like MLM programs and they participate ter large numbers. By thesis wij
are NOT talking about the very poor BUT the next level above that. They may NOT
have a zindelijk education but they understand Digital Currency. The thing is, the
Central Canap of Kenya has placed some confinement on this zuigeling of activities
and many are shut down mid stream.
So, wij get our own onto the market and it is taken up quickly and with a lotsbestemming
of enthusiasm. It embarked spil a pastime BUT the rente it sparked wasgoed
terrific. Te the beginning wij were using an juut of one of the main mobile
phone companies who quickly called us and showcased us the Central Handelsbank rules and
talent us hours to zekering using their systems and withheld overheen Kshs. 80,000/-. The
rule says they are NOT to accept any matrix system to use their facilities.
This applies across the houtvezelplaat for ALL central Canap licensed financial institutions.
So, do wij shut down? No. It is our right to do whatever wij want with our
money even if the systems are called Ponzi/Pyramid schemes! So wij moved into
using Mpesa directly and used a manual system to receive and make payments via
Mpesa. Wij did this for close to 90days and transacted just overheen Kshs. 3Million
te payouts ALL done by hand through Mpesa! Wij knew this wasgoed a brief term
solution and had looked at our options and went on to explore digital
currencies commencing from Ripple and then
reluctantly landed on Bitcoin! Wij instantly realised that Bitcoin wasgoed fully
developed and the structures were ter place for automating our payment system.
Wij began talking about Bitcoin. Wij did this for close to 2months. Lots of
Then come September 1st and the entire system wasgoed turned into a Bitcoin
System! With overheen 800 members 594 of whom are paid up, there wasgoed shock and awe!
Despite ALL the warnings, nobody took the admin truly earnestly BUT a manual
system could NOT work much longer. Wij had to do this. The System has slowed
down but there are takers. Bitx.co.ke is
swamped with fresh wallets being opened. The switch slowed us down
BUT will NOT zekering us …. them – some members have taken it it remarkably
well while others are utterly UPSET!
Wij have had several successful transactions te and out and wij expect this to
Kenyans understand Digital Currency and will take to Bitcoin with enthusiasm
BUT ONLY if they can make some money out of it. Bitcoin is a solution to the
central handelsbank problem and it is ONLY a matter of time before other networking
programs adopt Bitcoin.
The Combination of Mpesa and Bitcoin Instantly creates traders te Bitcoin
ALL on the phone.
I know, you will frown at the adoption of what you may call a ponzi scheme
BUT Kenyans have ALWAYS had a system called Harambee where they talent without
the expectation of a terugwedstrijd BUT now, here is a system they give into and expect
The adoption is quiet amazing BUT it will require a fine overeenkomst of education.
Wij can do this and more. Pesamob will leisurely lead us into the remittance
sector. When our relatives abroad are educated about Bitcoin, Pesamob members
will be ready to exchange Bitcoin ter to Kenya shillings and lives will be
switched. Kenya receives close to $120M (spil of today about 255,000BTC) te
remittances vanaf year. The cost of sending this much money to Kenya is about
$6.3M (about 13,400BTC). This 13,400BTC or more could fairly lightly stir to the
lower levels of the Kenyan society through Bitcoin. They will exchange it for
Kenya Shillings among themselves and spil soon spil they have enough Bitcoins, they
WILL not need the regular exchanges Because many individuals will turn into
exchangers! Wij will within a reasonable time become one of the largest users of
Wij have not even mentioned the farmers that uitvoer their Tea, coffee,
ALL wij need is an education. This wij are carrying out ourselves however a bit
leisurely BUT surely!
YOU can help make this a success – a pyramid scheme is frowned upon because
the bottom or late adopters are said to lose out. This is true BUT only if wij
do not have the numbers to make it cycle. The potential to make it cyclical is
there ESPECIALLY you – a Bitcoiner becomes the Bottom.
Have you everzwijn heard about the Panare Indians? The story is that a BIBLE THAT
says “THE PANARE KILLED JESUS BECAUSE THEY WERE WICKED” wasgoed created. It wasgoed
created specifically for them.
Ter 1979, Christian Missionaries went into South America, and encountered the
Panare Indians. Te their language, they didn’t have words for “evil” and “sin”.
So the missionaries were having a hard time coaxing them that they needed to
accept Jesus. So the missionaries went and customized a bible for them, ter
which “God” said that the Panare’ killed Jesus, and needed to be saved!
The Book is – Jesus Against the Indians:Who Won That War?
By Xavier James
Bitcoiners may have to use this kleuter of Tactic to help Pesamob.com build the Bitcoin Ecosystem. When overheen 800 people embark earning Bitcoins from your partcipation, the it will ONLY
be a matter of time Before the entire of East Africa quickly picks this up through
our members. Join Pesamob.com and send us your
Bitcoins. It is NOT a charity because ALL members have to be paid BUT you can
keep opening accounts until your earnings are used up. Use the verbinding http://www.pesabit.com – this is a revolving URL with 800 members.
Help us build the Bitcoin ecosystem through Mass Use. Join http://www.pesaBit.com (pesamob) and cause the
existing members to earn Bitcoin. This will force them to open Bitcoin Wallets
and Learn How to withdraw their Bitcoins. They will then have to metselspecie them or
spend them spil they are.
With a membership of 800 people and growing …. this has the potential to
spread the Bitcoin Gospel utterly swift. Joining will cost you 0.28BTC. The
member under who you join will instantly earn 0.08BTC.
This is a Pyramid System turned overheen te that you – a Bitcoin Proprietor – however
interested te the income chance would not feel much loss Spil the benefits
to the less talented would be much greater. Please Join us.
The verbinding http://www.pesabit.com is a rotator url for 800 members!
Wij intend to go East Africa, Africa and global.
Bitcoin is OUR ONLY payment System! The System is Already accepting and
paying out te Bitcoin automatically!
The only drawback presently is education. Educating people on what Bitcoin
is. There is slew of stuff on the webpagina so far http://www.pesamob.com/index.p…
and wij keep sending out more especially through the Twitter treat @PesamobCom
There are two areas wij can concentrate on one being 37coins.com
for which wij have already set up a gateway and https://btcjam.com.
Thesis two can quickly enable Bitcoin to spread quickly BUT wij very first need to get
Bitcoin to the people.
How? Through Pesamob.com.
Where do you come ter – find a way of getting Bitcoiners to sign up or you
place several accounts ter a revolving fund until fatigued. This way, Once the
people have earned some Bitcoins, they will HAVE to find a way to Contant it or
Kenya being the highest adopter of Digital money te the world has thick potential,
especially through the use of 37coins which is exactly like Mpesa EXCEPT that
now it is global, to quickly enhance the uptake of Bitcoin locally and
globally. Remittances to Kenya run into Billions of shillings and therefore
Kenyans would instantaneously benefit from the adoption of Bitcoin NOT to mention
tea farmers and coffee farmers.
There is NO better way to spread the message than through Network Marketing
which is already ter place and ready.
Please review this idea and see how you can get involved.