Why does South Africa have so much Bitcoin (Why does South Africa have nuclear bombs)?

08/15/2023 17:40 • Daily Digest • 68 views

Why does South Africa have so much Bitcoin? Today we are going to discuss an important question: why is Bitcoin so attractive in Africa? Many people wonder why there are no users of cryptocurrency in South Africa, but in reality, there are. It is because they do not know which companies are behind the crypto assets. Furthermore, their customers do not care about how the money enters or transfers, and they do not have bank accounts to manage their wealth. Therefore, they frequently ask for information regarding buying and selling Bitcoin. In fact, before 2017, only one company’s founder claimed to own 1 million BTC (worth about 3 billion USD at the time). If we divide these companies into two categories and compare, we will find that some of them are scams. The scammers use fraudulent methods and money laundering. This is why people say “I am a fool”.

Therefore, let us take a look at one of the most famous Bitcoin projects in South Africa, Bitcoin mining. According to the project’s whitepaper, approximately 50% of the computing power devices are operated in South Africa. Since more than half of the populations from many countries are in Nigeria or Kenya, most people still cannot access the power grid and exchange local currency for fiat. However, the South African government has now begun promoting this project to the public, “by providing a secure and reliable way to transfer funds from one country to another individual”, and money can be sent easily. “Can you use USD?” The trading volume on the Bitcoin network is much higher than the global average. Nevertheless, despite this, the South African crypto market has continued to grow over the past decade. It is estimated that the transaction volume reached 3.88 trillion rand in 2019, surpassing the 7.68 trillion rand at the end of 2018. However, since the beginning of this year, South Africa has been facing significant regulatory obstacles, leading many investors to give up. Additionally, as the crypto market continues to develop, more and more institutional investors are trying to seek investment opportunities to avoid risks and hope to avoid connection with the traditional financial system. (Cointelegraph)

Why does South Africa have nuclear bombs

On July 23, Lesetja Kganyago, the Governor of the South African Reserve Bank, announced the deployment of nuclear bombs near the Ghanaian Economic Zone. It is reported that the country will transfer about 5 billion USD in cash and oil from Abuja to an internationally supported organization for receiving, testing, and verification.

There are comments saying, “Although we do not directly cooperate with these government institutions, this may help ensure our security.” Previously, Salvadoran President Maduro (advocating for the use of nuclear weapons) pledged to donate 10 million USD to them. (CCTV News)

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Why does South Africa have so much Bitcoin (Why does South Africa have nuclear bombs)?

Why does South Africa have nuclear bombs

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