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3 Pages<123>
Kenya Should Ban Bitcoins As Well
mic_mic
#21 Posted : Tuesday, September 08, 2015 7:09:44 PM
Rank: Member


Joined: 12/30/2012
Posts: 545
Location: NBI
Please, before proclaiming bitcoins should be banned, go and do some research before rushing to wild claims.

Yes,bitcoins price may fall to $100, but that says nothing. It has fallen before, and went back again. Saying it will fall to $100, is saying nothing. Markets move in cycles, sometimes UP and sometimes DOWN. Bear, Bull. If you are smart, you will BUY when it dips in price because it is the most UNDER valued asset.

Bitcoin is a scarce digital asset that can be used as money/currency and is inseparable from its decentralized network - the blockchain. It is nothing like you have ever seen,so, I am not surprised many of you here do not understand it, or are out rightly confused.

BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
T-Bag
#22 Posted : Thursday, December 14, 2017 2:32:42 PM
Rank: Member


Joined: 9/25/2008
Posts: 352
BTCUSD 17,000
I have been married to a mountaineer for 10 years, Nothing scares me!
Mukiri
#23 Posted : Thursday, December 14, 2017 5:23:11 PM
Rank: Elder


Joined: 7/11/2012
Posts: 4,691
hisah wrote:
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.

Hi Hisah. When new to stocks I was such a devotee of yours. Cracks began to show with ARM. The above was the nail in the coffin.

However, I do believe you to be a sharp mind, when unbiased. Will there be a 'bubble' burst? Yes. But I believe we have abit of time before we get there
Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great ~ Mark Twain
whiteowl
#24 Posted : Friday, December 15, 2017 5:43:22 PM
Rank: Veteran


Joined: 4/16/2014
Posts: 1,197
Location: Bohemian Grove
How do you ban a currency that's not controlled by any central bank?Laughing out loudly
Swenani
#25 Posted : Saturday, December 16, 2017 10:44:26 AM
Rank: User


Joined: 8/15/2013
Posts: 11,828
Location: Vacuum
whiteowl wrote:
How do you ban a currency that's not controlled by any central bank?Laughing out loudly


BTC enthusiasts have failed to answer me one question. Is BTC;
1. a payment system like Mpesa, visa, etc
2. A currency like USD, KES,
3. Investment product like stocks
5. Property like land, gold etc?
6....
7...

What is BTC and why is the value of BTC skyrocketing this much?

"If you're tired of arguing with strangers on internet, try talking to one of them in real life"-Barack Obama 10th January 2017
maka
#26 Posted : Saturday, December 16, 2017 11:24:45 AM
Rank: Elder


Joined: 4/22/2010
Posts: 10,241
Location: Nairobi
Swenani wrote:
whiteowl wrote:
How do you ban a currency that's not controlled by any central bank?Laughing out loudly


BTC enthusiasts have failed to answer me one question. Is BTC;
1. a payment system like Mpesa, visa, etc
2. A currency like USD, KES,
3. Investment product like stocks
5. Property like land, gold etc?
6....
7...

What is BTC and why is the value of BTC skyrocketing this much?



I dont know about BTC... What I do know about is Ripple and I have in the last few weeks studied extensively on it... when i brought it up on the other thread it was at 0.24 its currently at 0.75 it will hit 10 USD plus on the future... Its usage makes more use as compared to the others...

https://en.m.wikipedia.org/wiki/Ripple_(payment_protocol)


possunt quia posse videntur
maka
#27 Posted : Saturday, December 16, 2017 11:54:30 AM
Rank: Elder


Joined: 4/22/2010
Posts: 10,241
Location: Nairobi
Speculz
#28 Posted : Sunday, December 17, 2017 9:22:34 AM
Rank: Member


Joined: 5/6/2011
Posts: 360
Location: Nairobi
maka wrote:
https://www.google.com/amp/s/www.ripplecoinnews.com/ripple-xrp-price-predictions/amp


Are you buying? If yes, from iqoption?
"You can't have everything. Where would you put it?" - Stephen Wright
maka
#29 Posted : Sunday, December 17, 2017 12:05:25 PM
Rank: Elder


Joined: 4/22/2010
Posts: 10,241
Location: Nairobi
Speculz wrote:
maka wrote:
https://www.google.com/amp/s/www.ripplecoinnews.com/ripple-xrp-price-predictions/amp


Are you buying? If yes, from iqoption?


Yes...
possunt quia posse videntur
Mukiri
#30 Posted : Sunday, December 17, 2017 4:44:10 PM
Rank: Elder


Joined: 7/11/2012
Posts: 4,691
Swenani wrote:
whiteowl wrote:
How do you ban a currency that's not controlled by any central bank?Laughing out loudly


BTC enthusiasts have failed to answer me one question. Is BTC;
1. a payment system like Mpesa, visa, etc
2. A currency like USD, KES,
3. Investment product like stocks
5. Property like land, gold etc?
6....
7...

What is BTC and why is the value of BTC skyrocketing this much?


Answers the way I see it

1. Eventually. With the advent of Atomic swaps, exchange of money will be peer to peer, bypassing the need for exchanges. Ask yourself, what is money? Your 100, 1000 shillings, what is it really? Its only an accounting system that says you have so many units of something that someone else does or doesn't have


2. Yes. Eventually it will be 'Money'. Just like cowrie shells were, once mass adoption takes place. Slow but sure we'll get there. Currently there are countries you can pay tax and fines in BTC, you can buy cars and other goods from Japan in BTC. Other goods and service providers also accept crypto.

3. Yes. We are currently here. Its all about acceptance and capital injection. The more the acceptance the higher the price becomes. Forces of demand and supply. When things settle down, status quo might or might not remain

4. Your number 4 has a problem, no?

5. Maybe, maybe not. BTC is very volatile. Today worth one thing, tomorrow another. As a store of value, you'd be taking quite the risk
Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great ~ Mark Twain
Mukiri
#31 Posted : Sunday, December 17, 2017 4:46:01 PM
Rank: Elder


Joined: 7/11/2012
Posts: 4,691
Speculz wrote:
maka wrote:
https://www.google.com/amp/s/www.ripplecoinnews.com/ripple-xrp-price-predictions/amp


Are you buying? If yes, from iqoption?

Just get into an exchange and buy. Or send me your details and I'll buy and transfer them to you. If I were you, I'd go for the former, just so you become independent
Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great ~ Mark Twain
wukan
#32 Posted : Sunday, December 17, 2017 10:02:20 PM
Rank: Member


Joined: 11/13/2015
Posts: 483
Swenani wrote:
whiteowl wrote:
How do you ban a currency that's not controlled by any central bank?Laughing out loudly


BTC enthusiasts have failed to answer me one question. Is BTC;
1. a payment system like Mpesa, visa, etc
2. A currency like USD, KES,
3. Investment product like stocks
5. Property like land, gold etc?
6....
7...

What is BTC and why is the value of BTC skyrocketing this much?


BTC is a payment system much like Mpesa but differs in two areas:-

1. BTC is decentralized-unlike mpesa which is centralized by the cellular network it can therefore be shut down by govt but BTC is not under control of govt authority so it can't be raided by govt. If a govt put in capital control to stop forex leaving a country you can use BTC to avoid the capital controls and transfer your capital out of the country.

2. BTC is deflationary-the amounts of BTC is fixed to 21 million so it becomes like electronic gold limited in supply therefore people use it to store value which is the reason for the 'skyrocketing'. If it is a store of value then you can use it as a currency to exchange goods and services. Kenyans before mpesa were using airtime as a quasi-currency so during 2008 PEV airtime was more exchanging beyond its intrinsic value so 100 airtime could sell for 250.

3. BTC was conceived after the 2008 global financial crisis when fiat currency(debt backed) was facing a crisis. To get out of the GFC and to stop deflation central banks decided to inflate using QE. BTC skyrocketing is being seen as hyper-inflationary collapse of fiat currency.

Lastly @swenani in behavioral-economics you learn to see things as they are happening not as they should happen in theory. You missed this point with the GDP during brexit remember how you were long instead of going short. You must stay ahead of the curve.
Spikes
#33 Posted : Monday, December 18, 2017 3:13:35 PM
Rank: Elder


Joined: 9/20/2015
Posts: 2,180
Location: Mombasa
http://www.businessdaily...2872-5mgmvrz/index.html

This news could be a recipe for a fresh rally!
John 1:46 "Nazareth! Can anything good come from there?" Nathaniel asked ."Come and see," said Philip.
marko
#34 Posted : Monday, December 18, 2017 6:58:19 PM
Rank: Member


Joined: 1/7/2007
Posts: 832
Spikes wrote:
http://www.businessdailyafrica.com/news/France-seeks-bitcoin-regulation-debate-at-G20/539546-4232872-5mgmvrz/index.html

This news could be a recipe for a fresh rally!


I wonder how they will seek to regulate it.
WHO DARES WINS
Mukiri
#35 Posted : Tuesday, December 19, 2017 4:04:33 PM
Rank: Elder


Joined: 7/11/2012
Posts: 4,691
marko wrote:
Spikes wrote:
http://www.businessdailyafrica.com/news/France-seeks-bitcoin-regulation-debate-at-G20/539546-4232872-5mgmvrz/index.html

This news could be a recipe for a fresh rally!


I wonder how they will seek to regulate it.

Same way China has. The world should regulate it. Regulation doesn't mean stifling it. Watch the arguments in the federal hearings in 2014. There alot of cowboys out there.
Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great ~ Mark Twain
Swenani
#36 Posted : Tuesday, December 19, 2017 6:26:22 PM
Rank: User


Joined: 8/15/2013
Posts: 11,828
Location: Vacuum
wukan wrote:
Swenani wrote:
whiteowl wrote:
How do you ban a currency that's not controlled by any central bank?Laughing out loudly


BTC enthusiasts have failed to answer me one question. Is BTC;
1. a payment system like Mpesa, visa, etc
2. A currency like USD, KES,
3. Investment product like stocks
5. Property like land, gold etc?
6....
7...

What is BTC and why is the value of BTC skyrocketing this much?


BTC is a payment system much like Mpesa but differs in two areas:-

1. BTC is decentralized-unlike mpesa which is centralized by the cellular network it can therefore be shut down by govt but BTC is not under control of govt authority so it can't be raided by govt. If a govt put in capital control to stop forex leaving a country you can use BTC to avoid the capital controls and transfer your capital out of the country.

2. BTC is deflationary-the amounts of BTC is fixed to 21 million so it becomes like electronic gold limited in supply therefore people use it to store value which is the reason for the 'skyrocketing'. If it is a store of value then you can use it as a currency to exchange goods and services. Kenyans before mpesa were using airtime as a quasi-currency so during 2008 PEV airtime was more exchanging beyond its intrinsic value so 100 airtime could sell for 250.

3. BTC was conceived after the 2008 global financial crisis when fiat currency(debt backed) was facing a crisis. To get out of the GFC and to stop deflation central banks decided to inflate using QE. BTC skyrocketing is being seen as hyper-inflationary collapse of fiat currency.

Lastly @swenani in behavioral-economics you learn to see things as they are happening not as they should happen in theory. You missed this point with the GDP during brexit remember how you were long instead of going short. You must stay ahead of the curve.


If it's payment system, why is it valued? What does a 1 BTC imply? Why does it keep on fluctuating in price/value.

If it's a payment system, what are people mining? Of what value would it help you to get a historical transaction trail of a currency? Do you usually check the historical transaction trail of the notes you have?
"If you're tired of arguing with strangers on internet, try talking to one of them in real life"-Barack Obama 10th January 2017
karasinga
#37 Posted : Tuesday, December 19, 2017 9:43:14 PM
Rank: Veteran


Joined: 2/26/2015
Posts: 1,121
Swenani wrote:
wukan wrote:
Swenani wrote:
whiteowl wrote:
How do you ban a currency that's not controlled by any central bank?Laughing out loudly


BTC enthusiasts have failed to answer me one question. Is BTC;
1. a payment system like Mpesa, visa, etc
2. A currency like USD, KES,
3. Investment product like stocks
5. Property like land, gold etc?
6....
7...

What is BTC and why is the value of BTC skyrocketing this much?


BTC is a payment system much like Mpesa but differs in two areas:-

1. BTC is decentralized-unlike mpesa which is centralized by the cellular network it can therefore be shut down by govt but BTC is not under control of govt authority so it can't be raided by govt. If a govt put in capital control to stop forex leaving a country you can use BTC to avoid the capital controls and transfer your capital out of the country.

2. BTC is deflationary-the amounts of BTC is fixed to 21 million so it becomes like electronic gold limited in supply therefore people use it to store value which is the reason for the 'skyrocketing'. If it is a store of value then you can use it as a currency to exchange goods and services. Kenyans before mpesa were using airtime as a quasi-currency so during 2008 PEV airtime was more exchanging beyond its intrinsic value so 100 airtime could sell for 250.

3. BTC was conceived after the 2008 global financial crisis when fiat currency(debt backed) was facing a crisis. To get out of the GFC and to stop deflation central banks decided to inflate using QE. BTC skyrocketing is being seen as hyper-inflationary collapse of fiat currency.

Lastly @swenani in behavioral-economics you learn to see things as they are happening not as they should happen in theory. You missed this point with the GDP during brexit remember how you were long instead of going short. You must stay ahead of the curve.


If it's payment system, why is it valued? What does a 1 BTC imply? Why does it keep on fluctuating in price/value.

If it's a payment system, what are people mining? Of what value would it help you to get a historical transaction trail of a currency? Do you usually check the historical transaction trail of the notes you have?

hey read this, its easy and accessible even though the ideas are old bitcoin pdf
It's not over until I win
skype id: karasinga. email: kkarasinga@gmail.com
Spikes
#38 Posted : Tuesday, December 19, 2017 10:29:27 PM
Rank: Elder


Joined: 9/20/2015
Posts: 2,180
Location: Mombasa
Swenani wrote:
wukan wrote:
Swenani wrote:
whiteowl wrote:
How do you ban a currency that's not controlled by any central bank?Laughing out loudly


BTC enthusiasts have failed to answer me one question. Is BTC;
1. a payment system like Mpesa, visa, etc
2. A currency like USD, KES,
3. Investment product like stocks
5. Property like land, gold etc?
6....
7...

What is BTC and why is the value of BTC skyrocketing this much?


BTC is a payment system much like Mpesa but differs in two areas:-

1. BTC is decentralized-unlike mpesa which is centralized by the cellular network it can therefore be shut down by govt but BTC is not under control of govt authority so it can't be raided by govt. If a govt put in capital control to stop forex leaving a country you can use BTC to avoid the capital controls and transfer your capital out of the country.

2. BTC is deflationary-the amounts of BTC is fixed to 21 million so it becomes like electronic gold limited in supply therefore people use it to store value which is the reason for the 'skyrocketing'. If it is a store of value then you can use it as a currency to exchange goods and services. Kenyans before mpesa were using airtime as a quasi-currency so during 2008 PEV airtime was more exchanging beyond its intrinsic value so 100 airtime could sell for 250.

3. BTC was conceived after the 2008 global financial crisis when fiat currency(debt backed) was facing a crisis. To get out of the GFC and to stop deflation central banks decided to inflate using QE. BTC skyrocketing is being seen as hyper-inflationary collapse of fiat currency.

Lastly @swenani in behavioral-economics you learn to see things as they are happening not as they should happen in theory. You missed this point with the GDP during brexit remember how you were long instead of going short. You must stay ahead of the curve.


If it's payment system, why is it valued? What does a 1 BTC imply? Why does it keep on fluctuating in price/value.

If it's a payment system, what are people mining? Of what value would it help you to get a historical transaction trail of a currency? Do you usually check the historical transaction trail of the notes you have?


Good questions to provoke deeper thoughts on crypotcurrency. Thumbs up though!
John 1:46 "Nazareth! Can anything good come from there?" Nathaniel asked ."Come and see," said Philip.
alma1
#39 Posted : Tuesday, December 19, 2017 11:45:21 PM
Rank: Veteran


Joined: 9/19/2015
Posts: 1,815
Location: hapo
Spikes wrote:
Swenani wrote:
wukan wrote:
Swenani wrote:
whiteowl wrote:
How do you ban a currency that's not controlled by any central bank?Laughing out loudly


BTC enthusiasts have failed to answer me one question. Is BTC;
1. a payment system like Mpesa, visa, etc
2. A currency like USD, KES,
3. Investment product like stocks
5. Property like land, gold etc?
6....
7...

What is BTC and why is the value of BTC skyrocketing this much?


BTC is a payment system much like Mpesa but differs in two areas:-

1. BTC is decentralized-unlike mpesa which is centralized by the cellular network it can therefore be shut down by govt but BTC is not under control of govt authority so it can't be raided by govt. If a govt put in capital control to stop forex leaving a country you can use BTC to avoid the capital controls and transfer your capital out of the country.

2. BTC is deflationary-the amounts of BTC is fixed to 21 million so it becomes like electronic gold limited in supply therefore people use it to store value which is the reason for the 'skyrocketing'. If it is a store of value then you can use it as a currency to exchange goods and services. Kenyans before mpesa were using airtime as a quasi-currency so during 2008 PEV airtime was more exchanging beyond its intrinsic value so 100 airtime could sell for 250.

3. BTC was conceived after the 2008 global financial crisis when fiat currency(debt backed) was facing a crisis. To get out of the GFC and to stop deflation central banks decided to inflate using QE. BTC skyrocketing is being seen as hyper-inflationary collapse of fiat currency.

Lastly @swenani in behavioral-economics you learn to see things as they are happening not as they should happen in theory. You missed this point with the GDP during brexit remember how you were long instead of going short. You must stay ahead of the curve.


If it's payment system, why is it valued? What does a 1 BTC imply? Why does it keep on fluctuating in price/value.

If it's a payment system, what are people mining? Of what value would it help you to get a historical transaction trail of a currency? Do you usually check the historical transaction trail of the notes you have?


Good questions to provoke deeper thoughts on crypotcurrency. Thumbs up though!


Everytime Kenyans talk about Bitcoins, it reminds me of a pyramid scheme I started years ago.

Nyinyi kaeni hapo na bitcoin. The day it shall threaten Donald Trump, mtafunga hiyo kasheshe.

I have 20 bitcoins. I was paid by some mutherf***er who couldn't pay his bill. I can assure you. I'm not telling my kids that they are millionaires. Simply because I know it is bullshit and I shall never get that money. It is somewhere in a block something. It was in 2011. 3 years after madoff.

It was after Enron. Like the way Obiero love KQ and everyone loved Uchumi. My fren, shit happens.

It was a time after people had lost hope in companies. Perfect time for scammers. Listen...You can mine as much as you wish. You can buy as many as you wish. But this road is a road that has been travelled before. A currency that depends on fear, and hope. Where's DECI?

Then they use words like Crypto..Mutherf***er you shall be hacked. Then they say it's the real currency. Listen, currency is. If I have 5 chicken, you can agree to give me a goat. This one, is about the hope, that one day, every human being shall dump a dollar...HOPE..That's not currency, that's hope and another pyramid scheme.

Wacha mimi nijaribu kununua kabroti with my 5 bob kenyan shilling. Hii ingine, I leave to the IT fellas.

Ujinga mamabo leo. Can you go farm please? Wheat farmers in Narok have horny malayas every year. Na wewe uko hapo na bitcoin mamayako.
#nimenena

MySQL


Ndukathurie muno umie. Na wamia, withabie. Ndukajire.
ayushnehra
#40 Posted : Wednesday, December 20, 2017 2:09:39 AM
Rank: Member


Joined: 1/4/2015
Posts: 137
wukan wrote:
Swenani wrote:
whiteowl wrote:
How do you ban a currency that's not controlled by any central bank?Laughing out loudly


BTC enthusiasts have failed to answer me one question. Is BTC;
1. a payment system like Mpesa, visa, etc
2. A currency like USD, KES,
3. Investment product like stocks
5. Property like land, gold etc?
6....
7...

What is BTC and why is the value of BTC skyrocketing this much?


BTC is a payment system much like Mpesa but differs in two areas:-

1. BTC is decentralized-unlike mpesa which is centralized by the cellular network it can therefore be shut down by govt but BTC is not under control of govt authority so it can't be raided by govt. If a govt put in capital control to stop forex leaving a country you can use BTC to avoid the capital controls and transfer your capital out of the country.

2. BTC is deflationary-the amounts of BTC is fixed to 21 million so it becomes like electronic gold limited in supply therefore people use it to store value which is the reason for the 'skyrocketing'. If it is a store of value then you can use it as a currency to exchange goods and services. Kenyans before mpesa were using airtime as a quasi-currency so during 2008 PEV airtime was more exchanging beyond its intrinsic value so 100 airtime could sell for 250.

3. BTC was conceived after the 2008 global financial crisis when fiat currency(debt backed) was facing a crisis. To get out of the GFC and to stop deflation central banks decided to inflate using QE. BTC skyrocketing is being seen as hyper-inflationary collapse of fiat currency.

Lastly @swenani in behavioral-economics you learn to see things as they are happening not as they should happen in theory. You missed this point with the GDP during brexit remember how you were long instead of going short. You must stay ahead of the curve.



My friend @wukan. Come on man show some seriousness, you put alot of words there meaning you must know something, don't just hot air things like Trump.

1. No BTC is NOT a payment system, it is only bitCOIN/CryptoCURRENCY. Don't complicate things. It is all but the digital currency that is an alternative of existing hard cash. in addition, it has technology that it works with that is effective for transparency. NO it is not like Mpesa it is like Kenyan Shillings.

2. Just like KES are exchanged/transferred/stored using Mpesa/Bank Accounts etc Bitcoin(and other cryptos) are exchanged using Exchanges/Platforms, and is stored in Digital Wallets/Vaults an alternative to Bank Accounts and your personal wallet.

3. As you said only 21,000,000 will be existant therefore it will not be scalable, the value might rise but in all will remain a commodity.If any Investment it is simply like the Forex market, hence it is traded versus another currency and has a value. Just like 1 USD = 103 KES, 1 BTC = 1X,XXX USD. So yes it can be traded and invested (and profited) in like any other currency. If one would assume holding USD cash as an asset then hey it can be considered as an alternative to gold but that depends on your individual perspective.

On a more personal note, I definitely agree that Kenyans should embrace the whole Bitcoin if you are willing to Risk why not, each to their own.


Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
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