SA

conceiv3d-in-lib3rty

Yeah, I'm sure you're spending $400 extra dollars to buy an iPhone just to be privacy conscious.. https://imgur.com/a/SA4Q4pX

bowtiedgrappler

Because when you sell assets in the states you have to report them — there is always an exit tax in place for situations like this. It’s why biz owners can’t move to SA,sell their biz and avoid paying American taxes. Should be noted I am in the US so rules may be different— again smart to consult with a tax professional on this 😂

FirePoolGuy

Lol. The South African Rand to the Dollar was R0.87c to $1 in 1978. It was R0.79c to the dollar when I was born. Now it's R18.99 to $1 And I don't see the Rand ever recovering on SA's current political trajectory. If the Dollar is sliding, you can only imagine what its like in SA. BTC is my only hope to ever be able to retire. I am a Bitcoin maxi and fully believe the benefit of decentralisation and the unchangeable nature of Bitcoin. I pledge to go down with the BTC ship, because I know it won't go down like flimsy fiat.

____Lemi

[Capetown, SA](https://www.reddit.com/r/gaming/s/HCaEeqDTrc)

henqNL

In a sense, yes. But the definition of SA was: buying btc with borrowed money, imho.

Perfect_Ability_1190

About WISeKey: WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, and (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions.

BigDeezerrr

Maybe in the US right now. It'll be adopted as currency in SA and Africa before the US and Western Europe. It's less than 2 decades old, there's no telling how Bitcoin will be used 50 years from now. For context, non-gold backed fiat USD is about 50 years old today.

AncientProduce

SA is effectively a failed state.

Jenn2895

SWFTC. Super low market cap, $25m. Currently only .007. Uses generative Ai, machine learning & big data. Dubed the Chinese XRP (& China & Brics members India, SA, etc are moving heavy into blockchain). Last cycle xrp ran from .005 to $3. With a small mc it's possible for SWFTC to do the same. Def has potential to be a 100x-1000x gem this cycle. So esp if you don't have much $, this could be a great bag to grab. Even if it's only $20-$100.

hateschoolfml

Federal reserve literally posts it like a joke for you to see https://fred.stlouisfed.org/series/CUUR0000SA0R Work forever harder for the same amount of goods 🤷‍♂️ not me

BuzzT65

I'm sure there are safe spots. But I've met my share of SA folks including my current neighbors who spent the majority of their lives in South Africa. They told me about the countries material beauty but also that the crime rate is through the roof. Several times no electricity throughout the day for extended periods of time. Or my former colleague who got robbed and stabbed while walking down the road. Several people stepped over him too worried to get in trouble if they would try to save his life. I know it's not everywhere. But still it's not exactly safe and peaceful.

bfolksdiddy

I think it’s another SA country. Most likely Argentina or Brazil. That being said, most shouldn’t discount a rich individual. It’s confirmed that Saylor spent some time with Bezos on a yacht. Bezos recently unloading 9 Billion of Amazon shares is an interesting prospect.

hateschoolfml

Lmao the federal reserve posts purchasing power loss like a meme 🤣 have fun being enslaved not my kids though https://fred.stlouisfed.org/series/CUUR0000SA0R

Intelligent-Snow-930

Every time you hear "Down x%" means everyone that purchased at the top, and hodl, is down. Worse than a regular SA.

EitherInvestment

This is illegal in most countries. Not sure about SA

Karl_vR

They just saw you are a foreigner and charged you double, SA is quite cheap when it comes to restaurants/ food - just not in Cape Town waterfront obviously.

BlueLatenq

The market follows TA or SA, either of the two. Many bought ETH then based on the fact that its smart contract idea looked good, and several other top-layer ETHs had the same related reasons too. IMO, looking into the next trend will mean a lot. Invest in several projects in that aspect, and at least some will do well, which will cover for the losses on others that failed. IMO, AI and quantum-resistant blockchains are the next trend.

conceiv3d-in-lib3rty

So does every single legitimate trader on earth, what is your point here? TA is for traders, not investors. Using TA to figure out when you should do your monthly DCA is literally going to seem like astrology. It doesn’t attempt to predict anything either, its use case is to identify patterns. Patterns are really the only viable tool traders have to go on, which is why every serious trader uses some form of TA/FA/SA.

Nearby_Level1640

[https://taurexbullrun.com/?rdt_cid=4316952079315832347&utm_campaign=bull&utm_medium=paidsocial&utm_source=reddithttp://paypal.me/MHAMAD1900?country.x=SA&locale.x=ar_EG](https://taurexbullrun.com/?rdt_cid=4316952079315832347&utm_campaign=bull&utm_medium=paidsocial&utm_source=reddit)

Key_Expert3541

If i was the king if SA or CEO of apple ill start accumulating then after am done ill go on the bees and say that I think btc will be big, my announcement alone would spike the price. Imagine if the SA minister of oil said that!

Bravadd

Yeah haha, Power cut at your house or the whole world? Are there generators? Does the world's internet also go down at the same time? Honestly, I do not see an electricity and internet outage in all the continents at the same time - NA, SA, Europe, Asia, Africa, and Australia.

fverdeja

Sorry, didn't mean to. Yes, FIAT is a state sponsored tool, but depending on where you live it is controlled by bankers or by the state. Still calling then conspiracies do not undermine the fact that SA is a conspiracy theorist, the argument is as solid as the "I can't be racist because I have an x-color friend" argument used by people who are clearly racially biased and claim they are not. Him having some percentage of truth on what he says doesn't mean that he is some kind of godsend luminaire.

fverdeja

Andreas Antonopoulos, Lin Alden, Allen Farrington, Nik Bathia, Alvaro Suarez, Alvaro D. María, Yan Pritzker, all of them have great books on Bitcoin, none of them is a conspiracy theorist nutjob as SA is.

Nearby_Level1640

a7mad.joojoo@gma7mad.joojoo@gmail.comail.comDashboard Signupwww..googol.comhttps://zerohash.zendesk.com/hc/en-us/articles/360021350753-What-is-Zero-Hash-Settlement-Service-https://paypal.me/MHAMAD1900?country.x=SA&locale.x=ar_EG

Boogyin1979

Genuine question: When did Saudi Arabia join BRICS? I’m in the UAE frequently and I knew SA was invited but did not know they accepted. I know SA sold a gang of treasuries but I get the feeling they will play all sides.

_Stealthy

https://www.youtube.com/live/AwEcqLuT_SA Crypto evolves

stardigrada

This is not a comment on the book but a response to OP saying SA sounds like a prick. He sounds like a prick because he is a prick. It's kind of his brand, and it was definitely fun for a while! He created a lot of good content and put up some great no punches pulled arguments for Bitcoin against similarly arrogant detractors. Now though a lot of people I've spoken with have grown tired of it and have a hard time reading or listening to him any more. A combination of broken record and don't meet your heroes. He can be very good on Austrian economics and Bitcoin but, like many experts in other fields, also seems to think that makes him an expert in other areas he is woefully myopic about. Max Keiser is similar (but more charming, as he substitutes silliness for condescension and disdain). I wish both of them well and hope they continue making solid Bitcoin content but keep more of their opinions on diet, international politics, and the merits of ball sunning to themselves.

HighlightTiny9896

I will be in SA on 3-11-2024 from the US

tobypassquarant

Because when something goes wrong, the user is always blamed for it. You don't see that shit happening with SA, but somehow here victim blaming is acceptable. No wonder people stay away from it.

Famous-Software-9629

Have family there. But I was born in SA

HighlightTiny9896

In 10 to 15 years, the Purchasing power of your Satoshis will go a long way in Africa. When that day comes, Africa will be able to build a 10,000 square foot 21th century luxury smart homes https://www.youtube.com/watch?v=7TMUMHHWFB8 for only 100,000 to 500,000 Satoshis or you will be able to buy a new luxury EV for 10,000 Satoshis. satoshi's Bitcoin will make Africa great again. I will be in SA on 3-09-2024.

shane_e

This is so ignorant, you can only be American ? The same top x percentage of people that knew about early on, or have enough (fiat) money to buy btc exist across the world. Here in SA for example, for a 3rd world country, I live a better life than the majority of “first world” people. Real healthcare, great education and food, but I’m obviously included by your American math ?

shane_e

This is so ignorant, you can only be American ? The same top x percentage of people that knew about early on, or have enough (fiat) money to buy btc exist across the world. Here in SA for example, for a 3rd world country, I live a better life than the majority of “first world” people. Real healthcare, great education and food, but I’m obviously included by your American math ?

AwkwardDilemmas

Among other things, he's a misogynistic, bigoted, Trumpist fascist. He is literally a Caricature of the typical SA (or Aus) male. And he shills unapologetically.

atomicdomb

They actually are in a big way!! Many African countries have a dollar reserves problem. Basically in order for us to trade African currencies with each other like SA Rands for Niara both banks need dollars and due to the IMF the trade basically goes Rand to dollar, dollar to Niara. This is a HUGE problem for Africa because if we don't export to America to get Dollars or we don't buy dollars on the open market we can't trade with each other! (which is insane) This also artificially pumps up the dollar as USD has to be held in reserve in order for us to trade which ultimately has nothing to do with the US. A lot of banks and central banks accross the continent are looking at BTC and lightning network as a means to solve this problem and some have been implementing plans since 2020. Project Khokha is one such effort. Africa is ready to put its institutions and banks behind BTC, it's also looking for alternatives to Fiat at a central banking level. I believe our continent is going to be the sleeping giant of the bitcoin movement, our economies are still developing and in many cases Visa and Mastercard are slower to implement payment solutions than BTC. Lightning network adoption in townships (extremely poor informal settlements) is surprisingly high!

Days_End

SAT SA = Saylor T = Token It's a Saylor token.

NeminemLaedit

Nope i) The tax-free threshold is £6k, falling to £3k in April '24. ii) You pay tax on the GAINS, not the gross withdrawals,and you must calculate your gains and enter them in the SA boxes.(Use Koinly) iii) The basic CGT rate is 10%, the higher rate 20%. You must ADD your gains to your other income, salary, interest, rents, etc. The portion of Capital Gains that fall under £50, 270 (all income) will be taxed @ 10%. The portion above will be taxed @ 20%.

zeehkaev

Here in Brazil we already have a few ETFs with Bitcoin and ETH. (Hashdex) for trade at IBOVESPA (South America largest stock market) It has been a few years like this, part of the last bull run was thanks to Brazil stock marketing adopting btc. However the USA finance system is much larger than Brazilian financal system. I am not saying its bad just that in some countries and regions of the world bitcoin is already in ETFs. https://finance.yahoo.com/quote/HASH11.SA/?guccounter=1

cileviHapremx

A cypherpunk OG. Apparently he’s made an appearance on X. https://x.com/nic__carter/status/1729495283200127409?s=46&t=SA37WrFMdyFXv_xqozfl4w

_artemisdigital

Bro... you don't need a book. Just look at the Federal Reserve chart of the purchasing power of the dollar lmao... https://fred.stlouisfed.org/series/CUUR0000SA0R

anonymouscitizen2

I think 50+ businesses in the same general area is quite a bit. It’s one of the more populated locations on the map. I just told you the name of one thats very easy to find. The people in hong kong aren’t using Tron USDT or crypto like people in SE asia or SA, I mentioned Hong Kong mostly because of the swap desks I described that had 0 KYC at the time. I found that really interesting but there are also many businesses (relative) that take crypto there. 50+ is a lot more than you’ll find in countries much larger

anonymouscitizen2

Tron is quite literally one of the most important crypto protocol outside of the US/West. Tron USDT has millions of users in Asia/SA. Its hard for westerners to understand but in places like Argentina/Hong Kong you can pay with Tron Tether in many places and many physical swap desks exists that will cash out 6 figures+ into whatever currency or Bitcoin. Justin is a crook scammer but he has built the most adopted crypto actual *payment* network with USDT. It blew my mind when I first saw these things in person.

maurymarkowitz

I recall taking a flight from Bolivia to Chile. Bolivia was like being in Toronto circa 1960. Chile was like being in Toronto circa today. From the air, I could see the border because on one side was a dirt road and the other was a perfectly paved highway (which I could easily see because you fly so close to the ground even in cruise!). So it is worth noting to those that have not been to SA much, Chile is sort of the outlier.

Bitcoin1776

Argentina is 20x the size of El Salvador. If they go to BTC that’s like $40 B of Bitcoin purchased if they make a comparative investment to support their new treasury. And if other SA countries follow their success and that of NB’s - well it just snowballs.. And soon ‘Gambol won’t be able to afford a nickel for his grandma’? So how is BTC price inflation any different than USD price inflation? And also dude calls socialist ‘parasitic rats with the morality of killers and thieves’. Sure some socialist. But not all socialists are ‘disgusting libtards’ - as he says. What do you think? https://youtu.be/o0vc6CBY2Nk?si=SBqw9Ukjux6cFdew

moonRekt

“Psychologist” making it about gender and race. Imagine that. First off, Asia is ahead of western predominantly white/capitalist countries except Europe probably not far behind so take that into consideration. Women are more risk averse, so that makes sense why they tend to avoid crypto more than men. Colonialism destroyed any chances of wealth creation in African and South American countries, so not a whole lot of money coming out from there though I do hope Bitcoin can even the playing field and bring Africa and SA to a closer economic level as the rest of the world, though IMF is showing they will ensure the oppressed countries stay suppressed. Tl;dr certainly it must be about gender and race and not circumstance..

uncapchad

I did this so long ago I can't remember! Revolut I think was quick sticks, using UK info all the way. I think it was almost instant to get registered. SA registered exchanges not sure. I registered with Luno ages ago but I think they accept a foreign number as long as on that side you use SA Passport/ID, address, bank details etc. They do ask for proof of address though - Municipal account <3 months old is needed. As I recall that took longer. They used to work office hrs Mon-Fri. Might have changed since then. Just remember to drop off the 0 in front of your UK number if they ask to SMS validate.

MoonshineHun

Thanks for the quick reply! I'm not registered with Luno - is it a lengthy process? Also, I won't be able to receive an sms to my SA number without turning on roaming and incurring some cost - will that be part of the process? I also don't have a Revolut account - does it take long to set up? I cannot believe this is so difficult 🥴

uncapchad

Hello fellow SAFFA! Yeah UK banks got hectic all at once. Option a) withdraw crypto from Binance to Revolut and convert it to GBP there. Then you can send GBP back to your bank Option b) withdraw crypto to Luno or whatever exchange you're registered with in South Africa, sell, send cash to your SA bank account

Plenty-Stock

People have been fighting over this land since BC. History runs deep here. This latest conflict is the latest in a line of dating back <p><a href="https://commons.wikimedia.org/wiki/File:Kingdoms\_of\_the\_Levant\_Map\_830.png#/media/File:Kingdoms\_of\_the\_Levant\_Map\_830.png"><img src="https://upload.wikimedia.org/wikipedia/commons/6/6a/Kingdoms\_of\_the\_Levant\_Map\_830.png" alt="Kingdoms of the Levant Map 830.png" height="480" width="402"></a><br>By \&lt;a href="//commons.wikimedia.org/wiki/File:Kingdoms\_of\_the\_Levant\_Map\_830.xcf" title="File:Kingdoms of the Levant Map 830.xcf"\&gt;Kingdoms\_of\_the\_Levant\_Map\_830.xcf\&lt;/a\&gt;: \*\&lt;a href="//commons.wikimedia.org/wiki/File:Kingdoms\_around\_Israel\_830\_map.svg" title="File:Kingdoms around Israel 830 map.svg"\&gt;Kingdoms\_around\_Israel\_830\_map.svg\&lt;/a\&gt;: \*\&lt;a href="//commons.wikimedia.org/wiki/File:Kingdoms\_of\_Israel\_and\_Judah\_map\_830.svg" title="File:Kingdoms of Israel and Judah map 830.svg"\&gt;Kingdoms\_of\_Israel\_and\_Judah\_map\_830.svg\&lt;/a\&gt;: \*\&lt;a href="//commons.wikimedia.org/wiki/File:Oldtidens\_Israel\_%26\_Judea.svg" title="File:Oldtidens Israel \&amp;amp; Judea.svg"\&gt;Oldtidens\_Israel\_\&amp;amp;\_Judea.svg\&lt;/a\&gt;: \&lt;a href="//commons.wikimedia.org/wiki/User:FinnWikiNo" title="User:FinnWikiNo"\&gt;FinnWikiNo\&lt;/a\&gt; derivative work: \&lt;a href="//commons.wikimedia.org/wiki/User:Richardprins" class="mw-redirect" title="User:Richardprins"\&gt;Richardprins\&lt;/a\&gt; (\&lt;a href="//commons.wikimedia.org/wiki/User\_talk:Richardprins" class="mw-redirect" title="User talk:Richardprins"\&gt;\&lt;span class="signature-talk"\&gt;talk\&lt;/span\&gt;\&lt;/a\&gt;) derivative work: \&lt;a href="//commons.wikimedia.org/wiki/User:Richardprins" class="mw-redirect" title="User:Richardprins"\&gt;Richardprins\&lt;/a\&gt; (\&lt;a href="//commons.wikimedia.org/wiki/User\_talk:Richardprins" class="mw-redirect" title="User talk:Richardprins"\&gt;\&lt;span class="signature-talk"\&gt;talk\&lt;/span\&gt;\&lt;/a\&gt;) \&lt;a href="//commons.wikimedia.org/wiki/File:Kingdoms\_of\_Israel\_and\_Judah\_map\_830.svg" title="File:Kingdoms of Israel and Judah map 830.svg"\&gt;Kingdoms\_of\_Israel\_and\_Judah\_map\_830.svg\&lt;/a\&gt;: \*\&lt;a href="//commons.wikimedia.org/wiki/File:Oldtidens\_Israel\_%26\_Judea.svg" title="File:Oldtidens Israel \&amp;amp; Judea.svg"\&gt;Oldtidens\_Israel\_\&amp;amp;\_Judea.svg\&lt;/a\&gt;: \&lt;a href="//commons.wikimedia.org/wiki/User:FinnWikiNo" title="User:FinnWikiNo"\&gt;FinnWikiNo\&lt;/a\&gt; derivative work: \&lt;a href="//commons.wikimedia.org/wiki/User:Richardprins" class="mw-redirect" title="User:Richardprins"\&gt;Richardprins\&lt;/a\&gt; (\&lt;a href="//commons.wikimedia.org/wiki/User\_talk:Richardprins" class="mw-redirect" title="User talk:Richardprins"\&gt;\&lt;span class="signature-talk"\&gt;talk\&lt;/span\&gt;\&lt;/a\&gt;) derivative work: \&lt;a href="//commons.wikimedia.org/w/index.php?title=User:Dlv999\&amp;amp;action=edit\&amp;amp;redlink=1" class="new" title="User:Dlv999 (page does not exist)"\&gt;Dlv999\&lt;/a\&gt; (\&lt;a href="//commons.wikimedia.org/wiki/User\_talk:Dlv999" title="User talk:Dlv999"\&gt;\&lt;span class="signature-talk"\&gt;talk\&lt;/span\&gt;\&lt;/a\&gt;) derivative work: \&lt;a href="//commons.wikimedia.org/w/index.php?title=User:Dlv999\&amp;amp;action=edit\&amp;amp;redlink=1" class="new" title="User:Dlv999 (page does not exist)"\&gt;Dlv999\&lt;/a\&gt; (\&lt;a href="//commons.wikimedia.org/wiki/User\_talk:Dlv999" title="User talk:Dlv999"\&gt;\&lt;span class="signature-talk"\&gt;talk\&lt;/span\&gt;\&lt;/a\&gt;) - This file was derived from: \&lt;a href="//commons.wikimedia.org/wiki/File:Kingdoms\_of\_the\_Levant\_Map\_830.xcf" title="File:Kingdoms of the Levant Map 830.xcf"\&gt;Kingdoms of the Levant Map 830.xcf\&lt;/a\&gt;:\&amp;nbsp;\&lt;span typeof="mw:File"\&gt;\&lt;a href="//commons.wikimedia.org/wiki/File:Kingdoms\_of\_the\_Levant\_Map\_830.xcf" class="mw-file-description"\&gt;\&lt;/a\&gt;\&lt;/span\&gt;, <a href="https://creativecommons.org/licenses/by-sa/3.0" title="Creative Commons Attribution-Share Alike 3.0">CC BY-SA 3.0</a>, <a href="https://commons.wikimedia.org/w/index.php?curid=18673802">Link</a></p>

middlemangv

 Yeeeeaaahhh

mattg1981

It’s been a rough bear for AVAX and as soon as it catches a break, SA gets hacked. Was that the final straw for AVAX?

iwishiremember

**SA**msung, **TOSHI**ba **Naka**michi **MOTO**rola is still around in our homes.

SnooperMike

Congratulations u/SA_Ichi on winning our bet! I bet that BTC would hit 23.5k by end of September, and I was wrong. 100 moons have been sent. So far I'm 0 for 2 on these r/cc bets. Maybe one of these days I'll win 🤦‍♂️

infested33

We had a post last week about how NSA created BTC and **N**akamoto **SA**toshi is code for that.

hoya_doing

Believe it or not, the name Satoshi Nakamoto derived from the NSA acronym. **NSA** = **N SA** = **N**akamoto **SA**toshi

NoVegas0

Ive been staying a few coins on CDC earn program for a few years now. CDC makes a ton of money off of trades, chances are they wont disappear tomorrow. Their Earn program pays out once a week and into your crypto wallet, so you have to adding it back to Earn to compound your interest. there is also a minimum deposit into the earn program. with flex, the 0.10% SA is about what you would get even with the best BTC Defi protocol. Bear market and all. I have soem Cro locked up with CDC, allowing me to earn some bonus CRO while staking my BTC. This is why i choose to keep my BTC on CDC earn vs Defi methods.

nadhsib

Small Bitcoin mines can be immediately profitable, and can therefore fund a renewable minigrid and supply power to the community at no cost. And, if this seems too good to be true, it gets even better. First, some numbers, and they are pretty shocking. According to the International Energy Agency, 600 million Africans (43%) have no access to electricity. Neither are they likely to get access to electricity. Why? Because it is expensive to erect pylons, string cable and build substations to distribute electricity to small communities or villages in far-flung areas – the capex costs overwhelm the return, especially given the light demand in areas without industrial activity of any kind. This means the only way to electrify those areas is with minigrids powered by renewables, usually between 20kW and 1MW, depending on the size of the community. But here, too, are many challenges. A recent paper by The Green Africa Mining Alliance lays out the scale of the task. “… \[T\]he number of minigrids in Africa needs to grow from 3,100 in 2021 to 160,000 in 2030, more than 50 times over nine years, with a cumulative investment of $91-billion by 2030. “If the current pace of minigrid development continues, only about 44,800 minigrids will be installed by 2030, serving only around 80 million people in Africa.” We first have to recognise some of the economic peculiarities of renewable minigrids in rural areas. One is that community demand peaks from 6-9pm when the sun goes down. So the grid has to be “overbuilt” to handle that critical period. While consumption is likely to grow over time as energy-consuming businesses start to cluster around the available energy, the initial period of the build and deployment is at the apex of financial risk, with high upfront costs to satisfy community peak demand and then a long and unpredictable wait for new business customers to come on to the grid and pay for it. Commercially minded investors take one look at this equation and quietly leave the room. This means that the only way to electrify these underserved communities is to rely on development/aid institutions or governmental “universal” access programmes to fund renewable-powered minigrids. But, sadly, most governments in Africa do not have the fiscus, nor will nor execution capacity. Most development institutions are both stretched across many demands and extremely slow to move from aspiration to funding. Worse, they are often subject to the whims of politics. In short, whatever help is coming to these communities is nothing more than a dribble, consigning hundreds of millions to lives of exclusion. It is no surprise that many of the minigrid initiatives promised on paper for decades have simply withered on the vine. An answer There is a solution to all of this, and the calculus is simple. The first piece of the calculus is that rural communities are often close to rivers, a critical natural resource for poor, underserved, under-employed and mainly subsistence communities. Additionally, Africa benefits from an abundance of sunlight over most of the continent. Two rich, renewable energy resources, almost entirely stranded and unused – solar and hydro. The critical second item of the calculus is the lack of an anchor tenant who will buy electricity reliably and hungrily, such as a large industrial plant. Sadly, such businesses have no reason to come to these places. So what is going to use the stranded renewable energy, and happily pay for the renewable minigrids from flowing water and abundant sunlight, powering up surrounding structures with lights and TVs and ovens and chargers? Bitcoin mines, that’s what. Bitcoin mines need power to run. Even small mines can run profitably if the power is cheap. And in this case, the power is free – from unexploited renewable sources. A single container of computers running Bitcoin mining software can be profitable because the only real cost is electricity. The other costs (the machines, the air-conditioning, the cables, the solar panels or water turbines) are negligible by comparison. Small Bitcoin mines can be immediately profitable, and can therefore fund a renewable minigrid and supply power to the community at no cost. And, if this seems too good to be true, it gets even better. The Bitcoin mines can reduce their consumption at the flick of a remote switch, making them perfect load balancers for the 6-9pm spike, or any other reason. Why does this seem like magic? Because standard energy demand requires the transport of power to population centres to find a consumption market (both citizens and industry); it is they who pay for the electricity which funds generation and distribution. That is the way it works, even for big renewable projects – their electrons end up mainly flowing to population centres. But Bitcoin mines are happy to churn away far from cities and towns, quietly securing crypto transactions and producing revenue. Bitcoin mines are unlike any other industry. They can live anywhere. And, if the energy is stranded, uncontested and free, you have a perfect marriage where everyone benefits – the community, the investors, even the Bitcoin bros. Unlike any other buyer of bulk electricity, Bitcoin mines are a buyer of first resort (when no one else is buying), a buyer of last resort (when there is no other demand) and a grid balancer of last resort, keeping the grid stable at all times. No other energy-consuming enterprise has this profile. Bitcoin mines have been slowly moving into this space, with multiple projects under way (with companies like Bitcoin Lake in Rwanda and Gridless in Nigeria). It can only accelerate – they are extremely fast to set up and face fewer regulatory hurdles than larger renewable initiatives which feed into a national grid. This is a delicious irony, given the number of furious and outraged column inches dedicated to Bitcoin’s energy usage over the past couple of years, when in fact it is likely to be part of the solution for the rural poor, excluded and energy deprived. DM Steven Boykey Sidley is a professor of practice at JBS, University of Johannesburg. His new book, It’s Mine: How the Crypto Industry is Redefining Ownership, published by Maverick451 in SA and Legend Times Group in the UK/EU, is available now.

polloponzi

Small Bitcoin mines can be immediately profitable, and can therefore fund a renewable minigrid and supply power to the community at no cost. And, if this seems too good to be true, it gets even better. The surprising, simple answer to Africa’s rural energy problems – Bitcoin mining The surprising, simple answer to Africa’s rural energy problems – Bitcoin mining © Copyright (c) Daily Maverick , All Rights Reserved First, some numbers, and they are pretty shocking. According to the International Energy Agency, 600 million Africans (43%) have no access to electricity. Neither are they likely to get access to electricity. Why? Because it is expensive to erect pylons, string cable and build substations to distribute electricity to small communities or villages in far-flung areas – the capex costs overwhelm the return, especially given the light demand in areas without industrial activity of any kind. This means the only way to electrify those areas is with minigrids powered by renewables, usually between 20kW and 1MW, depending on the size of the community. But here, too, are many challenges. A recent paper by The Green Africa Mining Alliance lays out the scale of the task. “… \[T\]he number of minigrids in Africa needs to grow from 3,100 in 2021 to 160,000 in 2030, more than 50 times over nine years, with a cumulative investment of $91-billion by 2030. “If the current pace of minigrid development continues, only about 44,800 minigrids will be installed by 2030, serving only around 80 million people in Africa.” We first have to recognise some of the economic peculiarities of renewable minigrids in rural areas. One is that community demand peaks from 6-9pm when the sun goes down. So the grid has to be “overbuilt” to handle that critical period. While consumption is likely to grow over time as energy-consuming businesses start to cluster around the available energy, the initial period of the build and deployment is at the apex of financial risk, with high upfront costs to satisfy community peak demand and then a long and unpredictable wait for new business customers to come on to the grid and pay for it. Commercially minded investors take one look at this equation and quietly leave the room. This means that the only way to electrify these underserved communities is to rely on development/aid institutions or governmental “universal” access programmes to fund renewable-powered minigrids. But, sadly, most governments in Africa do not have the fiscus, nor will nor execution capacity. Most development institutions are both stretched across many demands and extremely slow to move from aspiration to funding. Worse, they are often subject to the whims of politics. In short, whatever help is coming to these communities is nothing more than a dribble, consigning hundreds of millions to lives of exclusion. It is no surprise that many of the minigrid initiatives promised on paper for decades have simply withered on the vine. An answer There is a solution to all of this, and the calculus is simple. The first piece of the calculus is that rural communities are often close to rivers, a critical natural resource for poor, underserved, under-employed and mainly subsistence communities. Additionally, Africa benefits from an abundance of sunlight over most of the continent. Two rich, renewable energy resources, almost entirely stranded and unused – solar and hydro. The critical second item of the calculus is the lack of an anchor tenant who will buy electricity reliably and hungrily, such as a large industrial plant. Sadly, such businesses have no reason to come to these places. So what is going to use the stranded renewable energy, and happily pay for the renewable minigrids from flowing water and abundant sunlight, powering up surrounding structures with lights and TVs and ovens and chargers? Bitcoin mines, that’s what. Bitcoin mines need power to run. Even small mines can run profitably if the power is cheap. And in this case, the power is free – from unexploited renewable sources. A single container of computers running Bitcoin mining software can be profitable because the only real cost is electricity. The other costs (the machines, the air-conditioning, the cables, the solar panels or water turbines) are negligible by comparison. Small Bitcoin mines can be immediately profitable, and can therefore fund a renewable minigrid and supply power to the community at no cost. And, if this seems too good to be true, it gets even better. The Bitcoin mines can reduce their consumption at the flick of a remote switch, making them perfect load balancers for the 6-9pm spike, or any other reason. Why does this seem like magic? Because standard energy demand requires the transport of power to population centres to find a consumption market (both citizens and industry); it is they who pay for the electricity which funds generation and distribution. That is the way it works, even for big renewable projects – their electrons end up mainly flowing to population centres. But Bitcoin mines are happy to churn away far from cities and towns, quietly securing crypto transactions and producing revenue. Bitcoin mines are unlike any other industry. They can live anywhere. And, if the energy is stranded, uncontested and free, you have a perfect marriage where everyone benefits – the community, the investors, even the Bitcoin bros. Unlike any other buyer of bulk electricity, Bitcoin mines are a buyer of first resort (when no one else is buying), a buyer of last resort (when there is no other demand) and a grid balancer of last resort, keeping the grid stable at all times. No other energy-consuming enterprise has this profile. Bitcoin mines have been slowly moving into this space, with multiple projects under way (with companies like Bitcoin Lake in Rwanda and Gridless in Nigeria). It can only accelerate – they are extremely fast to set up and face fewer regulatory hurdles than larger renewable initiatives which feed into a national grid. This is a delicious irony, given the number of furious and outraged column inches dedicated to Bitcoin’s energy usage over the past couple of years, when in fact it is likely to be part of the solution for the rural poor, excluded and energy deprived. DM Steven Boykey Sidley is a professor of practice at JBS, University of Johannesburg. His new book, It’s Mine: How the Crypto Industry is Redefining Ownership, published by Maverick451 in SA and Legend Times Group in the UK/EU, is available now.

NoProfessional232

Yah it can happen again and this time SA will be prepared 😂

Seanb621

If they beat France I could easily see Ireland and SA going at it again in the final.

TarkovRedditor

Rate cuts + halving = ? 

NoProfessional232

Yah in SA crime is on steroids.....but again it depends on which area you stay.Otherwise it's a lovely country especially cape town it's so beautiful..great weather,good beaches and the scenery.

i_reddit_at_reddit

I've heard bad things about SA wrt crime, unemployment is super high. UK should be a good move for you, but costly I'd imagine. I'm an Aussie and haven't been to any of those places yet

OverallHearing5

I knew NA/CA/SA markets would sell off today. I think we have one more leg down to go, and then a takeoff towards the stars.

Harold838383

Awesome! So weird they’re so big in SA but don’t really exist in Victoria

azza_sg

I may needa move over then. Bank SA (part of the big 4) have given me nothing but trouble all year.

BluePul

Isn't this guy the psycho who said women who wear makeup basically "ask for it" when it come to SA?

nonameattachedforme

Deutsche Bank making waves too growing their partnership with Taurus SA to offer digital tokenization and custody. Along with their previous investments and application for a digital assets license in Germany, it's nice to see them staying fresh in the scene.

Spare_Photograph

I am honestly surprised MBS hasn't already demanded BTC in exchange for his oil. Why would he prefer fiat for his oil? Must be political reasons preventing him from doing so. He probably fears the wrath of the US Military who would need to bring "Freedom" quickly to SA.

CymandeTV

Let's make a battle Royale with SBF, DK, AM and SA.

theycallmekimpembe

“Bloomberg reported in April that Saudi Arabia, through its Public Investment Fund, invested $38 billion in the sector as it looks to become a global gaming hub.” That’s actually big news, especially as it’s SA and not Dubai for once.

RespondEfficient1343

Just say: SIM SA LA BIM .. the magic words will open it. #magic

Cool_As_Your_Dad

I live in South Africa. 33% is on the lower scale of unemployment. Most of the people in SA live of social grants from ANC government. They got 0 money for crypto...

Apprehensive_Leg9373

Yeah, definitely not 98 percent of the population. It's maybe 98 percent of people who visited that website who are from SA.

Scarecrow4980

I wonder hwo many have been scammed because they don't know better. a friend from SA has been scammed because she didn't know how to buy it herself so she gave money to someone else to buy it for her. wish she would have told me first so I could tell her NOOOOOOOO

PiyushChansolia

I think crypto can help SA by the people of country in making payments,storing value, and investing and growing their wealth.

Socialinfluencing

As someone with close ties to to SA yeah they may have heard of it but the country is so deep down the shitter currently that most people aren't thinking about anything other than survival. Unemployment rate sits at about 33% currently and last time I visited around 2010 it was already sitting at around 20-25%

jawni

I actually bought some squid ink pasta this summer that was blockchain certified. I had no idea until I was cooking with it and noticed it on the packaging. https://genuineway.io/italian-pasta-to-conquer-the-us-market-through-the-itemx-certification-tool/#:~:text=SOLITALY%2C%20a%20brand%20specializing%20in%20traditional%20Apulian,Way%20SA%20to%20conquer%20the%20US%20Market.

_MoonBot

**Round 43 stats for SA_Ichi** - Total Karma: `1525` karma - Ratio: `0.8728` Based on these stats, `u/SA_Ichi` should receive an estimated **~1331 MOON** on distribution day. ^(*estimate based on the snapshot data and is subject to change.*) --- ^(I am a bot 🤖)

gvictor808

How would SA military back SA currency? Is your currency accepted anywhere outside of SA? Honest question. I get the US argument since military projects globallly and usd has been global reserve, but don’t see SA argument.

TheStellarPharmacist

As an Egyptian, I really wish Salah does not go to SA.

uncapchad

Ask the peeps in Lugano, Switzerland or South Africa. BTC already accepted as payment with most retail services. I was in SA for 4 months and bought all my groceries using BTC. I'm sure there are more stories out there but these are the two I'm most familiar with. It's not as improbable as people feel it just takes effort to get the various parties to agree, including banks and governments.

Shippior

Lots of cheap hydro power are multiple locatins in SA as well

i_reddit_at_reddit

yep they are dogs. i transfer from one bank to another to CDC to Kucoin. I lost a bit in spread and fees along the way. I know Commonwealth have a block or a 24hr delay to some exchanges and they will not release the names. Bank SA appear to allow instant transfer. I believe NAB and Westpac also cause you problems. They are doing it under the guise of protecting you from scammers which is such fkn BS

Ralph_Nacho

Considering they just announced that dedollerization is not on the agenda your point is moot. That's just what China and Russia want, but not Brazil, SA, and India.

SmoothGoing

How odd that even a book about bitcoin from loud bitcoin maxi is not sold for bitcoin with payment through btcpayserver. WooCommerce "accepted" bitcoin. Sure it's some 3rd party book seller; SA himself is not shipping books individually out of his garage. I have doubts he's getting paid in bitcoin for this sale though.

Daily_Phoenix

Let's not support SA.... prison is bad enough. Especially for someone like him.

Stevenspielbergsnut

I live in SA and there's literally one at most cash express atms

M1ST3R_W1Z4RD

Many thanks for the warm welcome u/SA_Ichi

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i_reddit_at_reddit

Yep OTR in SA has some integration with CDC and you can pay with crypto

CymandeTV

I think SA is the next SBF.

notoriousbpg

I've met with SA a couple of times before in a work capacity. Not a scumbag.

joe17301

Woolworths is awesome. If you're ever in SA, it's a great place to get quality food and snacks :)

Nirbhik

Why does SA give me SBF vibes?

Podsly

And China. SA is also falling behind. This group of countries does not have enough reputation with other countries to sufficiently and transparently manage a currency. It's a pipe dream and largely is used by China and Russia to support the narrative that the West along with the USA is loosing it's power.

Four_Krusties

Hey, I remember the Bitcoin thread on SA too. The vast majority of opinion was shitting on it, calling it a bubble and a scam. I didn’t understand what the point was. Oh well.

Heraclius_3433

>sure you cannot turn in your usd and get oil like when usd was backed by gold That’s exactly what the definition of a “backed currency” is. Don’t tell me I need to do more research when you are changing the definitions of economic concepts. I fully understand the economics of the petrodollar and how countries like SA only accepting usd increases demand for usd which helps give more value to usd. That doesn’t mean the usd is “backed by energy”.

TarkovRedditor

All price action aside It’s beautiful to see news articles about moons