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Kenya Should Ban Bitcoins As Well
mnunuzi
#1 Posted : Monday, February 10, 2014 4:53:47 PM
Rank: New-farer


Joined: 11/15/2013
Posts: 34
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...
mnunuzi
#2 Posted : Monday, February 10, 2014 5:03:46 PM
Rank: New-farer


Joined: 11/15/2013
Posts: 34
sl8r
#3 Posted : Friday, February 14, 2014 2:48:31 PM
Rank: New-farer


Joined: 5/20/2010
Posts: 67
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
hisah
#4 Posted : Friday, February 14, 2014 3:10:30 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
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!
murchr
#5 Posted : Friday, February 14, 2014 3:56:38 PM
Rank: Elder


Joined: 2/26/2012
Posts: 14,709
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
.
Rollout
#6 Posted : Friday, February 14, 2014 5:20:29 PM
Rank: Member


Joined: 4/26/2011
Posts: 714
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
simonkabz
#7 Posted : Saturday, February 15, 2014 2:40:13 AM
Rank: Elder


Joined: 3/2/2007
Posts: 8,729
Location: Cameroon
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!
Gordon Gekko
#8 Posted : Saturday, February 15, 2014 7:25:37 AM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
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.
sparkly
#9 Posted : Saturday, February 15, 2014 8:11:31 AM
Rank: Elder


Joined: 9/23/2009
Posts: 7,118
Location: Enk are Nyirobi
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.
stockshunter
#10 Posted : Sunday, February 16, 2014 8:35:39 PM
Rank: Member


Joined: 1/16/2014
Posts: 114
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.
Candlesticks
#11 Posted : Monday, February 17, 2014 8:45:45 AM
Rank: New-farer


Joined: 12/16/2013
Posts: 49
Location: Nairobi
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.
mnunuzi
#12 Posted : Monday, February 17, 2014 9:43:07 AM
Rank: New-farer


Joined: 11/15/2013
Posts: 34
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.
reymarkperry
#13 Posted : Monday, May 12, 2014 12:51:53 PM
Rank: Hello


Joined: 5/5/2014
Posts: 2
@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/
mnandii
#14 Posted : Monday, September 07, 2015 12:54:49 PM
Rank: Veteran


Joined: 10/11/2006
Posts: 1,832
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.
hisah
#15 Posted : Monday, September 07, 2015 2:22:19 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
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!
washiku
#16 Posted : Monday, September 07, 2015 5:08:39 PM
Rank: Chief


Joined: 5/9/2007
Posts: 13,069
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?
murchr
#17 Posted : Monday, September 07, 2015 5:22:29 PM
Rank: Elder


Joined: 2/26/2012
Posts: 14,709
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
.
Boris Boyka
#18 Posted : Monday, September 07, 2015 5:35:14 PM
Rank: Veteran


Joined: 11/15/2013
Posts: 1,976
Location: Here
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. !!!
murchr
#19 Posted : Tuesday, September 08, 2015 7:41:49 AM
Rank: Elder


Joined: 2/26/2012
Posts: 14,709
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
.
mic_mic
#20 Posted : Tuesday, September 08, 2015 7:04:30 PM
Rank: Member


Joined: 12/30/2012
Posts: 545
Location: NBI
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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