Re:Bitcoin Is a Hideous Monstrosity Made Out of Computers an...
by olalonde on Wednesday June 22, 2022 @08:56AM
(#31835444)
> How is Bitcoin improving on e.g. M-Pesa?
M-Pesa only works in some African countries? And it relies on the benevolence of Vodafone Group and governments?
Re:Bitcoin Is a Hideous Monstrosity Made Out of Computers an...
by forum_ghost on Wednesday June 22, 2022 @11:40PM
(#31844945)
Nigeria, just one country, has 34 million crypto users. mpesa has 30.
34 > 30
is that much adoption?
Re:Bitcoin Is a Hideous Monstrosity Made Out of Computers an...
by SideburnsOfDoom on Thursday June 23, 2022 @03:14AM
(#31846046)
I'll assume that like me, you googled that. So, this is technically correct, but:
30 or 34 m users out of 206m isn't the whole market, not close.
Nigeria is an outlier, with low M-Pesa adoption as:
> The reason why this incredible product (M-Pesa) can’t be replicated in Nigeria with such success is perhaps due to what you and I as Nigerians enjoy today, the Nigerian Interbank Settlement System (NIBSS)
https://nairametrics.com/2017/09/26/why-the-m-pesa-miracle-h...
https://www.crunchbase.com/organization/nigeria-inter-bank-s...
So to sum up, the huge Nigerian domestic market is covered by a SEPA-like product. It's not a bitcoin thing. Omitting that seems intentionally misleading.
Citation needed (to put it mildly). How is Bitcoin improving on e.g. M-Pesa?
Is there much adoption compared to M-Pesa, outside of fantasy?
If you're not familiar with M-Pesa, then you don't know this subject at all.
> Those people get Bitcoin instantly.
https://www.theguardian.com/music/2022/jun/17/jay-z-bitcoin-...