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Bitcoin kaatua bbc news

bitcoin kaatua bbc news

in fact, it can be most effective when strengthening them." 'Crypto-currency is a gamble' Much of the appeal of Bitcoin and other crypto-currencies for investors is that they are free from the strictures of regulatory. Peter Oduba, a would-be investor from Kenya, fell for a Bitcoin Ponzi scam called Crypto Wealth and lost a significant amount of money in the process. According to the African Development Bank, smart phone penetration is set to hit 50 by 2020. Twitter has not commented. He told the BBC the scam had involved "six pots" investors could "jump into". It is digital and largely exists online and is not issued by governments or traditional banks. Getty Images, more on Elon Musk. Cautionary tales, the surge in popularity of Bitcoin and other crypto-currencies has led many experts to believe that Africa will once again leapfrog the digital divide, bypassing traditional banking much like it did with the fixed-line telephone. "There's been such a history of poverty in Africa that so many rural communities are yet to be developed with normal banking infrastructure he told the BBC. Pan-African telecommunications company Liquid Telecom said in its blockchain report this year, that the technology was a "truth engine that represents a new opportunity to improve processes and drive efficiency".

The entrepreneur says Twitter believed his account had been hacked. Rory Cellan-Jones, technology correspondent, with falling values and rising regulatory scrutiny, some fear a bleak future for digital currencies.

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Whoever asks about crypto-currencies: 'How does it work? Bookmark your favourite topics and create your very own NewsNow page. In Africa the mobile phone has been instrumental in transforming the way people conduct business, and the growth of Bitcoin could one day rival mobile banking platforms like M-Pesa as a viable form of payment. We didn't know it was a scam, and we did it for quite some time and then it just collapsed.". Site View, we may collect and use your personal data and set cookies to improve your experience and customise advertising. What is a Ponzi scheme? To see how, please read our. Welcome to m, we use cookies to gather and analyse information on site demographic, performance and usage. Several fake accounts have previously used images of Mr Musk and variations of his name to promote cryptocurrency scams, sometimes within replies to his posts. Located in the rural town of Nyeri, about 150km (90 miles) outside the capital, Nairobi, it is one of the few businesses in the country that allows customers to pay with not one but two crypto-currencies - Bitcoin and Dash.

Read more, bitcoin continues to decline, amid reports that the US bank will shelve plans to establish a crypto trading desk. By, bitcoin News PR 6 days ago, after the last token has been transferred to participants and the dust has settled down, it all comes down to the roadmap. It is a crypto-currency that has no notes or coins.