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0 sats \ 0 replies \ @KenyaCoin 9 Apr \ on: Brazil’s government-run payments system has become dominant bitcoin
Another government-affiliated agency champions a payment method, and suppresses competition. Said payment method gains share and network effects result in it having the power of a monopoly. Then raises fees, adds taxes ... and bleeds the citizenry dry!
But they are getting revenue they likely otherwise would not have gotten, and that revenue generally has mostly profit as marginal expense on the revenue is minimal. That could help subsidize R&D or production systems that expand their green energy footprint. Or not, who knows. Bitcoin mining doesn't exist to serve the green energy industry.
This makes a good demonstration of how a payment network can gain traction over time, and become the dominant retail and P2P payment network.
They can do what they want, but just know that this Africa Bitcoin Conference isn't African, nor is it for Africans. It's funded by outsiders, for outsiders.
For example, just a few months ago for the 2024 ABC in Nairobi, held in the JW Marriott, the opening keynote had less than half the conference seating occupied -- yet for those arriving, without a ticket but willing to pay for a seat, the price of entry was $300.
Now if you just want a kickass time, with kickass people -- most of whom you already know, at a kickass vacation destination, this would probably work.
I had a different take on what Tether is likely planning:
Tether's Battery as a Service - "Few hundreds kiosks already up and running"
#902379
Well, Erik Hersman (Gridless Mining) thinks it is something else entirely:
Offgrid Africa: [Tether's] Solar Kiosks and Stablecoins
#902373
But this is more like what I was envisioning:
Buy, spend, repeat. So .... multiple times a day, most days.
This is how cross-border remittance and international commerce occurs, for some of us.
- Made possible by Tando (at least, for the spend part).
- Made affordable by LN..
- Made preferable by regulations requiring KYC (as recipient has no clue who I am, nor does Tando)
Additional context:
The Power Saver: Why Portable Power Stations Are a Must-Have in Kenya
https://ankoretail.blog/2024/05/03/the-power-saver-why-portable-power-stations-are-a-must-have-in-kenya-2/
Shitcoiners already in this space:
Each unit is equipped with 4G connectivity, allowing users to track energy generation and consumption in real-time. This data is securely stored and validated on the Cardano blockchain, ensuring transparency, trust, and accountability.
[...] users can earn $EPWR tokens, which are rewarded for generating and consuming renewable energy.
Details from Tether are very limited on this, but this is possibly something like a portable power station type of device (e.g., along the lines of an Ecoflow, Bluetti, etc.) whose batteries can be swapped out. For providing powering in the home (interior LED lighting, TV, laptop, phone charging, etc) where their utility power is unavailable or unaffordable.
A power station that itself does not need to be so portable, and does not need to charge interior batteries is something that can be built quite a bit cheaper than the current portable systems reliant on solar for power, or an A/C power source.
And with swappable batteries, capacity is essentially unlimited since once could possibly have multiple batteries so that there's always a fully charged battery at the ready.
Solar installation on the house + battery storage might be preferable (versus a battery subscription), but many homes are not suitable for solar installation (shade, or rented and no roof acccess, no place for the batteries, etc.) or the cost is prohibitive. This battery (rental) subscription lowers the cost to access the sun.
And this is apparently a bridge ... until Tether becomes the electric utility too:
Will develop first power generation and then infrastructure.
Though, my guess as to what this really is could be completely off the mark. We'll see.