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Bitcoin: Does it have a future ?
Rank: Member Joined: 8/16/2012 Posts: 660
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Quote:CAMBRIDGE, MA – Two MIT students have raised half a million dollars for a project to distribute $100 in bitcoin to every undergraduate student at MIT this fall... Quote:Through the MIT Bitcoin Project, Rubin and Elitzer aim to help MIT continue its long tradition as the preeminent educational institution at the forefront of emerging technologies, and establish MIT as a global hub where Bitcoin-related research, ideas, and ventures are studied, discussed, and developed. The bulk of funding for the project is being provided by MIT alumni with significant additional support from within the Bitcoin community. The total of over $500,000 already pledged will cover the distribution of bitcoin to all 4,528 undergraduates, as well as infrastructure and informational activities related to the initiative. Quote:“Giving students access to cryptocurrencies is analogous to providing them with internet access at the dawn of the internet era,” said Rubin. When the distribution happens this fall, it will make the MIT campus the first place in the world where it will be possible to assume widespread access to Bitcoin.
The MIT Bitcoin ClubLive and learn; and don’t forget, nothing ventured, nothing gained.
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Rank: Member Joined: 9/29/2010 Posts: 679 Location: nairobi
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Rank: Hello Joined: 5/5/2014 Posts: 2
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According to BitcoinDaily, bitcoin is here to stay despite its unsure future as a currency. But they believe it has a huge potential to become one because it has features for it to become a viable currency.
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Rank: Member Joined: 8/16/2012 Posts: 660
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Darkcoin, the Shadowy Cousin of Bitcoin, Is Booming Quote:In only a month, the little-known bitcoin alternative known as Darkcoin has rocketed nearly tenfold in value–from around 75 cents a coin to almost seven dollars. Its selling point: Darkcoin offers far greater anonymity than bitcoin, mixing up users’ transactions so that it’s incredibly difficult to trace a payment to a person. And though few have yet to accept that more-anonymous coin for actual goods and services, the promise of Darkcoin’s privacy features seems to have sparked a miniature boom. It’s one of the fastest growing among the wave of cryptocurrencies that’s followed bitcoin’s success, with the total value of its combined coins topping out at nearly $30 million. Quote:Darkcoin’s uncanny growth, of course, may also be fueled by speculators who see an opportunity to jump on a hot commodity. And given how wildly it’s appreciated in its short life, there’s no guarantee it won’t crash just as fast. Live and learn; and don’t forget, nothing ventured, nothing gained.
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Rank: New-farer Joined: 5/7/2014 Posts: 40
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I'm very skeptical about Bitcoin and other cryptocurrencies. Has anyone in this forum actually used Bitcoin in a transaction?
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Rank: Member Joined: 8/16/2012 Posts: 660
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Bitcoin and Regulation: Lessons from the Early Days of Skype Live and learn; and don’t forget, nothing ventured, nothing gained.
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Rank: Veteran Joined: 11/11/2006 Posts: 971 Location: Home
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KenyanEconomist wrote:I'm very skeptical about Bitcoin and other cryptocurrencies. Has anyone in this forum actually used Bitcoin in a transaction? Same here. If the Enigma code could be cracked, this Crypto-things will also be cracked. I know some geek will quote 128 bit encryption or even 1024 bit. Forex makes more sense than such.
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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holycow wrote:KenyanEconomist wrote:I'm very skeptical about Bitcoin and other cryptocurrencies. Has anyone in this forum actually used Bitcoin in a transaction? Same here. If the Enigma code could be cracked, this Crypto-things will also be cracked. I know some geek will quote 128 bit encryption or even 1024 bit. Forex makes more sense than such.  Please provide more info. FYI. BItcoin is an open source project. ALL the best minds in the tech field (THE BEST) have had a look at it and say it is solid. Any changes to the code to make it have to be backed by global consensus. It is a one way hash function. The MOST secure encryption in the world today! Check again. BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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 BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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KenyanEconomist wrote:I'm very skeptical about Bitcoin and other cryptocurrencies. Has anyone in this forum actually used Bitcoin in a transaction? Yes! I have used it now for over 6months!!
Takes me minutes to convert BTC - KES right into my Mpesa in record time.
here is a screen shot of my transaction history (some) BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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Also used BitX. For a short while. Here is a snap of mu transactions when i did some testing on their exchange platform BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 8/16/2012 Posts: 660
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@mic_mic seen this? The first hurdle in .ke . .  Live and learn; and don’t forget, nothing ventured, nothing gained.
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Rank: Member Joined: 5/2/2007 Posts: 536
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The bitcoin plot thickens. Full notice is also on the CBK Website: https://www.centralbank....cies_such_as_Bitcoin.pdf
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Rank: New-farer Joined: 2/17/2010 Posts: 47 Location: Nairobi
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Oh my my my. The Bitcoin community we still stand unshaken. Fearlessness in the face of Barriers. Nothing will hold me back, in Bitcoin I trust. www.myduara.co.kePeople who look for easy money invariably pay for the privilege of proving conclusively that it cannot be found on this sordid earth
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Rank: Member Joined: 5/28/2014 Posts: 149 Location: Nairobi
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[quote=tuvok]The bitcoin plot thickens. Full notice is also on the CBK Website: https://www.centralbank....ies_such_as_Bitcoin.pdf[/quote] This reminds me of M-Pesa in its early days. When you live for others' opinions, you are dead.
- Carlos Slim Helu
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Central Banks talk as if fiat currencies are risk free and aren't used to facilitate any crimes. In Kenya we've seen Dubai and Imperial bank go down in quick succession wiping out billions of depositors money. Even a famous Wazuan was unfortunately caught up in the Dubai bank saga.I'm not not saying a doomsday scenario is coming for KE banks but failing to factor in the possibility of more banks collapsing can be fatal. We also need to factor in the possibility of the shilling weakening. In Russia when the ruble was at a free fall, there was a lot of panic buying of goods (electronics,cars,property) ,forex and bitcoins just in a bit to dump their local depreciating currency. Bitcoin isn't a silver bullet during a financial crises but it should always availed as an option for those who wish to take it.Because at the end of the day it isn't any more riskier than other currencies out there.
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Rank: Member Joined: 8/16/2012 Posts: 660
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Safaricom war with Bitcoin dealer sparks CBK warning
In Summary- BitPesa is locked in an acrimonious court battle with Safaricom over the telecom operator’s decision to terminate M-Pesa payments to the platform’s gateway dubbed Lipisha Consortium. - Through the BitPesa platform, users can convert bitcoin into Kenya shillings and use it to make retail payments or remittances via M-Pesa. - The CBK on Tuesday asked the public to desist from transacting in bitcoin and similar products as they are not regulated in Kenya. BD wrote:The CBK’s quest to slam the brakes on use of bitcoin in Kenya comes at a time when BitPesa is locked in an acrimonious court battle with Safaricom over the telecom operator’s decision to terminate M-Pesa payments to the platform’s gateway dubbed Lipisha Consortium.
Mr Mucheru, the ICT minister-designate, is both a director and shareholder in the firm, making his appointment to the docket significant. BD wrote:Mr Mucheru, who was vetted on Friday last week, said the CBK and lawmakers should move to develop regulations for crypto-currencies likening it to the advent of pioneer mobile money platform M-Pesa which was viewed with suspicion at its birth in March 2007.
"We need to change regulations to take into account innovations such as virtual currency as this is currently outside CBK’s mandate,” said Mr Mucheru. This one is going to get very interesting. Watch out! Live and learn; and don’t forget, nothing ventured, nothing gained.
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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This is only but a temporary setback. Remember, Mpesa was once declared illegal in Kenya by politicians and banks in 2007/2008. Today, almost everyone uses Mpesa, and it is spoken of the world over. Patience friends BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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Mpesa has never shafted anybody ie why has acclaimed global adaption. John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: Member Joined: 8/16/2012 Posts: 660
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Bitcoin is a much bigger threat to M-Pesa than all other challengers. By being a truly global currency, this is a much efficient means of currency exchange. With the concerns on terrorism and funding for terror acts, the path to bitcoin acceptance will be rocky. If only concerns were towards how it functions and elimination of any loopholes that exist; look out for Mt. Gox Bitcoin Debacle than trying to bury this thing most have no idea of its roots. Live and learn; and don’t forget, nothing ventured, nothing gained.
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Bitcoin: Does it have a future ?
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