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    Author Topic: Bitstake/XBS DISCONTINUED  (Read 258841 times)
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    Bitstake (OP)
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    April 21, 2015, 09:52:08 PM
     #2741

    It's something but I think a lot of people are buying into an exciting idea without realizing the vast majority of remittance in Africa is monopolized by the communications providers exactly because they have a direct platform for education. There is also the issue of hiring agents to act as intermediary moneychangers -- otherwise the same populations are depending on the same exploitative merchants they use now to convert money, and then carrying out remittance via Bitstake. Which isn't much of a value proposition. Without commentary on these issues it's hard to gauge where the developers are at, in reality.

    For what it's worth there is only one other Bitcoin exchange in Nigeria. Is this a brand new market that will be hard to break into? Of course, but with great risk comes great reward. I think the remittance market though is so huge that if even a small percentage of people use Bitstake it could be potentially lucrative.


    Askuzai:
    Remittance is not controlled by the communications providers in Nigeria where Bitstake is based. Your argument doesn't applies to bitstake, maybe from TV point of view.

    Bitstake is created by a Nigerian, we took a different approach than most of the bitcoin start up. You can't argue you know the market better than a born citizen.

    You talking about educating the public, have you seen our press release and planned promo? The whole features are directed towards Nigerians and other developing countries.

    We are not using local agents but our proposed plan in far better than the current system.

    Nigeria is fast growing, bank deposit or airtime is better option for now.

    Do you know what questions people asked us first, What is bitstake (coin) and this people have no idea what bitcoin is.

     
     

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