Thursday, September 6, 2018

Despite the official ban .. The evolution of the Betcoin in Morocco

Despite the official ban .. The evolution of the Betcoin in Morocco

Despite the official ban .. The evolution of the Betcoin in Morocco
It appears that the Moroccan authorities' ban on the use of encrypted electronic currency, especially the currency of the Betquin, did not prevent this currency from developing in Morocco. A recent study revealed the steady growth of this currency among Moroccan dealers on the Internet.

Local media in Morocco are interested in a new report from a local exchange, LocalBitcoins, based in the Finnish capital Helsinki. The recent report notes that Morocco is located in four countries on the African continent in the volume of exchanges in Pitcuen and 36 in the world.

While Nigeria was the top in Africa with 256 million dollars, Morocco ranked fourth with 6 million dollars, which is described as slow development, but it remains considered due to the prevention in this area in the country. The UAE occupies the center of the first Arab with a total value of 34 million Dollars

What a fantastic explanation. The content is complicated of course, but you did a great job of breaking down a lot of dense material into only 10 minutes. People who are brand new to the topic may still be confused, but those who were semi-informed will now solidify their knowledge with this quick lesson. Bravo.

The reason it's so hard for most people to understand Bitcoin is that most people don't really understand money. Money isn't wealth. It's an accounting system used to facilitate the exchange of wealth. (The paradox of money is that while everyone wants it, no one actually wants it - they want the stuff they can buy with it!) Many people are put off by the fact that Bitcoins are 'just data'. But that's what ALL money is, information! More precisely, money is a means for credibly conveying information about value given but not yet received (or at least not yet received in a form in which it can directly satisfy a person's wants or needs). To put it yet another way, money is a ledger. With fiat currencies like the dollar, that ledger is centralized. And that gives the central authority responsible for maintaining that ledger tremendous power, power that history has proven will inevitably be abused. With Bitcoin, the ledger is decentralized. And that means that no one individual or entity has the power to arbitrarily create new units (thereby causing inflation), freeze (or seize) your account, or block a particular payment from being processed. We've had decentralized money before. After all, no one can simply print new gold into existence. And the 'ledger' of gold is distributed because the physical gold itself (the 'accounting entries' in the metaphor) is distributed. But with gold, that decentralization comes at a heavy price (literally). The physical nature of gold makes it hugely inefficient for global transactions. And this is why bitcoin is important! It is the first currency in the world that is both decentralized and digital. It is more reliably scarce than gold and more private and transactionally efficient than "modern" digital banking. This is why people are excited about bitcoin, it has the potential to be completely revolutionize money.

The fact that the Cryptos intimidate most people is the very reason why you would want to be in it. Jumping on the bandwagon earlier than most would give you an edge, both in terms of potential gains and experience. It can be a steep learning curve, but it would all be worth it. Once there’s adequate mainstream coverage on cryptos, the masses will start pouring in, purely because the rates of returns are relatively astounding! The decentralization of cryptocurrencies democratizes traditional powers and empowers the masses. No more shall you depend on financial institutions for transferring money that comes with an exorbitant fee. There are many coins – most notably Bitcoin – that allows users to transfer money to anyone at any location with a fraction of the fees. Not only that, having private wallets to store your coins gives you full control of your money. It’s like managing your own bank; you decide your own rules. That’s what I call ideological empowerment.

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