Quote from: Daniel91 on May 06, 2016, 02:54:54 PM

Quote from: Kakmakr on May 06, 2016, 11:21:32 AM

http://www.bbc.com/news/world-africa-36210680

I quote "bank customers are not always able to withdraw the amount of US dollars they want because of a shortage of dollar notes in Zimbabwe."

This is one of the countries in Africa with the poorest population and the greatest need for micro transactions. I think this decision will push more people to use alternative methods of payment and also alternative investment currencies to protect their wealth. We have already seen M-pesa making in-roads into Kenia and other African countries as a alternative to their reserve currency.

The political instability in that country will not help in making sound financial decisions and they hate western influences, but they accept the dollar? ^hmmmmm^

You have to understand a few things here.
No so many people in that area can use Internet.
If they can use internet, they don't have enough skills and knowledge how to use Internet for finance, payments, sending or receiving money etc.
Even if they have internet and have some understanding about sending money or Internet, finance etc. what they can do with bitcoin there?
They can't buy or sell anything for bitcoin.
No, right now, I don't think bitcoin is better option for them.

The internet access requirement is BS.... I travelled to most of these countries and they are using mobile phones. We have seen people linking Sms's to Bitcoin and sending Bitcoin via emails. If these

people are knowledgeable enough to use Mpesa or whatever it is called, then they would know how to use Bitcoin. There are also enough third party services like Bitpesa to help them figure it out.

The first world countries need to give these people a chance to enter the financial market and to use this technology. We cannot keep this to ourselves.... 3rd world countries will just skip certain

stages in technology.. like they did with the phones... In first world countries... people started out with landlines and progressed to mobile / wifi access... Now 3rd world countries can skip directly to

wifi and landlines are not needed.... same thing with Bitcoin... Most of these people are going to skip the traditional fiat system {Bank accounts} and just jump directly into digital alternatives like

Mpesa & Bitcoin.