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Kenya Should Ban Bitcoins As Well
Rank: New-farer Joined: 11/15/2013 Posts: 34
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Bitcoin would kill our finance sector, it crashed 80% in seconds. from circa $600 to $108. Now imagine a client who had saved 100million in form of bitcoins, with no hedge...
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Rank: New-farer Joined: 11/15/2013 Posts: 34
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Rank: New-farer Joined: 5/20/2010 Posts: 69
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Mpesa and bitcoin are pretty much VERY similar. The only difference is that Bitcoin is not and accepted as a currency, hence the fluctuations amongst other things. If was much easier to transact using bitcoin than it is using mpesa, then that is the death of Mpesa
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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mnunuzi wrote:http://www.zerohedge.com/news/2014-02-10/bitcoin-flash-crashes-drops-80-seconds Just had a look at the bitcoin 5yr chart.
SMH... Many guys will be caught naked. Two upthrust in 2013 (Apr and Dec) indicate that the price will nosedive below 100 handle. It seems incredible right now, but this is coming! And it will be one mighty fall...$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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sl8r wrote:Mpesa and bitcoin are pretty much VERY similar. The only difference is that Bitcoin is not and accepted as a currency, hence the fluctuations amongst other things. If was much easier to transact using bitcoin than it is using mpesa, then that is the death of Mpesa I disagree "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Member Joined: 4/26/2011 Posts: 759
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murchr wrote:sl8r wrote:Mpesa and bitcoin are pretty much VERY similar. The only difference is that Bitcoin is not and accepted as a currency, hence the fluctuations amongst other things. If was much easier to transact using bitcoin than it is using mpesa, then that is the death of Mpesa I disagree I strongly disagree
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Rank: Elder Joined: 3/2/2007 Posts: 8,776 Location: Cameroon
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sl8r wrote:Mpesa and bitcoin are pretty much VERY similar. The only difference is that Bitcoin is not and accepted as a currency, hence the fluctuations amongst other things. If was much easier to transact using bitcoin than it is using mpesa, then that is the death of Mpesa
Bitcoin equivalent to mpesa? aiii TULIA.........UFUNZWE!
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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Rollout wrote:murchr wrote:sl8r wrote:Mpesa and bitcoin are pretty much VERY similar. The only difference is that Bitcoin is not and accepted as a currency, hence the fluctuations amongst other things. If was much easier to transact using bitcoin than it is using mpesa, then that is the death of Mpesa I disagree I strongly disagree Totally disagree. mpesa is backed by cash, it is NOT a substitute for cash. To get mpesa, you have to give out cash. Maybe you were talking of banglapesa, which is not cash but used as cash.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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mnunuzi wrote:Bitcoin would kill our finance sector, it crashed 80% in seconds. from circa $600 to $108. Now imagine a client who had saved 100million in form of bitcoins, with no hedge... So why should it be banned in Kenya? I don't see how it kills our finance sector if it is not part of the finance sector. Maybe you work in a Bank and you are afraid of losing your job if BC goes mainstream. Life is short. Live passionately.
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Rank: Member Joined: 1/16/2014 Posts: 114
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mnunuzi wrote:Bitcoin would kill our finance sector, it crashed 80% in seconds. from circa $600 to $108. Now imagine a client who had saved 100million in form of bitcoins, with no hedge... The person who saved that amount must have been a fool not worth the money he had since how can you give out cash in exchange for e-money which is not recognised by any nation or state? I know there are laws in kenya which legalize M-pesa. The person does not differ from a village fool who gives his money to a con pastor in hope that when the prayers are over he will open his eyes and find the money has doubled. Am sure wazuas are intelligent enough not to fall into this one. If I may ask did u keep quals in your backyard? coz currently am sure you don't know where to take the birds. fear makes people live a miserable life.
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Rank: New-farer Joined: 12/16/2013 Posts: 49 Location: Nairobi
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What beats the most... is it a currency,,,,a security or a payment system. As a Payment system< PERFECT!! as a security and Currency major FLOP !! Read More Here http://themarkettrends.w...curity-a-payment-system/"'Nowadays people know the price of everything and the value of nothing.' - Oscar Wilde.
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Rank: New-farer Joined: 11/15/2013 Posts: 34
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sparkly wrote:mnunuzi wrote:Bitcoin would kill our finance sector, it crashed 80% in seconds. from circa $600 to $108. Now imagine a client who had saved 100million in form of bitcoins, with no hedge... So why should it be banned in Kenya? I don't see how it kills our finance sector if it is not part of the finance sector. Maybe you work in a Bank and you are afraid of losing your job if BC goes mainstream. Its down 77% in two weeks (950-220). You don't see anything wrong with that? I don't work for any bank. There is an upside to financial regulation, otherwise it would be insane to have a substantial amount of your savings in Bitcoin. Scenario? "Monday your cousin from US is sending you $100,000 worth of Bitcoins, account for delays, two weeks later you finally manage to exchange your Bitcoins for real cash, then the banker shocks you with a $33,000 check", now magnify to billions, see where it would place us.
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Rank: Hello Joined: 5/5/2014 Posts: 2
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@Blythe1984: If you still can’t wrap your head around bitcoin, here is an infographic to help you understand its concept better: http://bitcoindaily.com/...ly-bitcoin-infographics/
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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Hmnh! Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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hisah wrote:mnunuzi wrote:http://www.zerohedge.com/news/2014-02-10/bitcoin-flash-crashes-drops-80-seconds Just had a look at the bitcoin 5yr chart.
SMH... Many guys will be caught naked. Two upthrust in 2013 (Apr and Dec) indicate that the price will nosedive below 100 handle. It seems incredible right now, but this is coming! And it will be one mighty fall... Whoa! When I made this observation on BTC back in Feb 14 2014 the price was @423. Currently it's trading @241. I still maintain the observation that it will head towards 100.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 5/9/2007 Posts: 13,095
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simonkabz wrote:sl8r wrote:Mpesa and bitcoin are pretty much VERY similar. The only difference is that Bitcoin is not and accepted as a currency, hence the fluctuations amongst other things. If was much easier to transact using bitcoin than it is using mpesa, then that is the death of Mpesa
Bitcoin equivalent to mpesa? aiii Kabz, kumbe unakuanga huku?
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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All bubbles burst. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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murchr wrote:All bubbles burst. Is Real estate a bubble? Has it burst? Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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Boris Boyka wrote:murchr wrote:All bubbles burst. Is Real estate a bubble? Has it burst? No "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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Letme (kindly) educate some of you who have no idea what they are talking about Soma, jierevushe 10 differences between Mpesa and Bitcoin https://pesaafrica.wordp...or-images-of-each-other/BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Kenya Should Ban Bitcoins As Well
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