Pontificating about new ‘projects’ is the disingenuous and frankly disgusting approach most original Bitcoin content creators have willingly taken. Bombarding Africa with useless news from thousands of Shitcoins which does absolutely nothing to financially empower them is a waste of their time. Africans need the cold hard truth when it comes to Crypto not sexy illusions of grandeur being shilled by individuals who simply want to pump and dump. Disease, corruption, hunger, poverty and unemployment just to mention a few from the myriad of challenges African youth deal with daily leave them with no time to play in the Shitcoin sandbox.
BitcoinMtaani’s mission statement to expedite Bitcoin and Blockchain adoption in Africa is important. While the later has several use cases that will be of great value to Africa, Bitcoin is the only Crypto asset that will liberate the continent. All fiat currencies and Crypto with the sole exception of Bitcoin are Shitcoins. The fecal matter analogy is a direct representation of how useless they are compared to the greatest store of value known to man being embraced globally both by individuals and corporations.
CASH IS TRASH
Most Africans have a great sense of pride when they take their hard earned fiat currency (Cash) to their bank account for ‘safe’ storage. They are oblivious to the fact that what they deem as a deposit is in fact an unsecured loan they are giving a commercial bank. This categorically means that they are NOT guaranteed to get their ‘deposits’ in full back from the bank at any time they want. During bank runs mostly caused by the incompetence of the management, the banks have the discretion to not give customers their money back or simply use it to pay for their sins.
In Africa as is the case globally, bankers do not go to jail for criminal behavior and or gross negligence. They are given a slap on the wrist by the authorities and regulators in whom their tentacles spread deep. Fines that constitute less than 1% of their worth or an hour of business on a slow day are what they have gotten in Kenya for facilitating corruption scandals worth Billions of Kenya Shillings (KES). African youths only chance to protect their money is self-sovereignty via Bitcoin as they have no chance defending their 3rd world fiat currency from the banks.
Business news in Africa is comprised of a 5-15-minute segment telling the citizenry what happened in markets they do not understand the inner workings of or benefit from directly. Saving as well as storing fiat currency is an agenda carefully crafted by commercial banks and Sacco’s who are the main beneficiaries. Their agenda is portrayed by the media as being the only saving grace to Africans facing great hurdles to merely make ends meet leave alone own their own domicile. The corporate media directly benefits from advertising revenues they use to survive during this new age when social media has rendered them redundant.
African youth now have a choice to consume content that directly teaches them how to financially empower themselves. Opt out of constantly being force fed Shitcoin news on a daily basis by choosing podcasts such as WhatBitcoinDid that will have you learn from experts, investors, professional and stakeholders internationally on how to play the game. Instead of reacting to ‘mainstream media’ stories of corruption on how the elite continue to rape Africa #LevelUp. This will ensure you are so well off not to care even about the ever increasing cost of living or be in a financial position to do something about it if you care instead of ranting to Twitter.
“If you give yourself 30 days to clean your home, it will take 30 days but if you give yourself 3 hours, it will take 3 hours. The same applies to your goals, ambitions and plans” – Elon Musk
Be very alert to stay away from charlatans shilling Shitcoins on various platforms online. Start with Bitcoin only podcasts as I did thus in a very short period of time your internal Shitcoin detector will be developed sufficiently to slowly venture to what other content creators have to offer.
Shitcoins are full of security loopholes selling hope for a quick solution in the future. Fiat currency being stolen either through force or sophistication such as armed robberies and ATM hacks respectively are an international problem. While banks are insured, Africans suffer from poor policing which more often than not leaves them permanently separated from their fiat currency when robbers strike. Migration to digital platforms has simply made it easier for thieves who now can stay home and be safe as they take to plunder less Tech survey citizens.
Bitcoin is supported by all serious online (Hot) wallets, offline (Cold) storage hardware wallets and vaults. Strict adherence to all the steps to protect your Bitcoin is the cost you pay to be self-sovereign. Many Shitcoin are not supported by multiple reputable exchanges leave alone hardware wallets. Your choice of a cold storage hardware wallet or vault should be made very carefully.
Making sure all your devices and software are updated is up to you. There are recommended security measures encouraged by the Bitcoin community worldwide that will get you started.
ICO exit scams with fake LinkedIn and social media profiles have led to numerous scams through ‘projects’ claiming to provide several solutions through Blockchain technology. A great example is Useless Ethereum Token that raised more than $60,000 without a white paper. Similar to pyramid schemes and multi-level marketing scams this will only leave Africans who choose to get rich quick out of pocket.
NFTs are currently what’s in season for those adventurous types looking for a plot of land in the either or a cat farting rainbows. ‘NFTs IN AFRICA’ explains how African youth should tiptoe through the NFT minefield if they are an artist to get an edge globally. The citizenry devoid of commercial artistic talents should steer clear of these crazy first world problems and focus on getting out of poverty via Bitcoin.
“I heard you like NFTs so I made an NFT explaining NFTs that you can buy as an NFT” – Jack Butcher
Only legitimate Bitcoin education resources will enable Africans not fall prey to the fraudsters constantly changing tact to take advantage of the ignorant.
Education and training in certain skill sets will enable Africans acquire more Bitcoin through capitalizing on worldwide Shitcoin hysteria without owning them. Such skills will be covered in-depth in consequent articles, one of which is Crypto trading. That is a skill that can be mastered thus enabling one to develop trading algorithms with +Ve Return On Investment (ROI) for sale. Such products will enable African youth who are serious in learning start to earn or buy significantly quantities of Bitcoin. Trading Other People’s Money (OPM) will also be covered as there is a lot of money to be made through that route and barriers to entry other than competence are literally nonexistent.
Food, shelter and clothing are basic needs, closely followed by WIFI these days. Even when all youth in Africa can afford to pay for all their basic needs, pay for monthly data without blinking and have significant Bitcoin stacked in cold storage hardware wallets thus self-sovereign, being in possession of Shitcoins will always be a stupid idea.
BitcoinMtaani will always stay true to the one and only idea whose time has come, Bitcoin.