10 sats \ 1 reply \ @crybaby 16 Mar 2023 \ on: Buy Bitcoin With A Feature Phone In South Africa bitcoin
that "what you need to get started" list seems a big ask, is that really the only way to on-board developing nations easily? seems like a good intentioned way of bad endings for the people using it
There's obvious trust involved in the process
- Trust the bank to not stop your payment
- The seller to not be a knob and release
- Paxful to release funds
- and the wallet to hold your funds to not rug you
Apart from the wallet parts custodial, the process is the same for users in most developing countries too
Machunkura could allow users to connect their own nodes and communities could manage this on a local level, this is very much the norm here, billions are sitting with people in your community, we call it a stokvel, you hand your cash over to someone in the community they bank it for you, invest it etc.
I did a post on how the stokvel could be better built with lightning and ecash but this would still require someone to run infrastructure for the USSD access with the telco, unless everyone now has smartphones, then of course this is totally irrelevant
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