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Mr Draper states that Bitcoin is badly needed in resource-poor countries with unstable currencies. How does he expect Bitcoin to compete with mobile currencies
by davycro 12y ago
Mr Draper states that Bitcoin is badly needed in resource-poor countries with unstable currencies. How does he expect Bitcoin to compete with mobile currencies such as M-Pesa?
Thinking about it, I imagine that the advantage of Bitcoin is that it can be sent globally, whereas M-Pesa type currencies are restricted to specific countries.
- logicchains 12y agoIt's also harder to tax Bitcoin transactions than M-Pesa transactions, which could provide financial incentive to use it.
- defo_nonconvex 12y agoIsn't M-pesa backed using the country's currency? What logic of what you're saying sounds like it could imply that "Paypal is it's own virtual currency"...