Bitcoin. Metropolis. Litecoin. Nigeria. South Africa. Namibia.

Hello everyone! Welcome to Bitcoin Flash, a fast 2 minute recap of cryptocurrency news taken place in the southern hemisphere. Today my focus will be exclusively on Africa. I will be covering other parts of the southern hemisphere this week, one place at a time. (All prices are in USD.)

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Quick Market Recap For Today

We will go over some quick market recap. Chineses regulations push Bitcoin volumes to Over-the-Counter and neighboring countries. Japan, Hong Kong (City in China), and many South Asian countries are experiencing high Bitcoin volumes. Next India considers issuing its own Bitcoin-like cryptocurrency as legal tender. And lastly, the Ethereum fork Metropolis, and no we are not talking Superman, has finally arrived with its first iteration being tested on the Ethereum network. I know Ethereum fans are finally happy that this has started. Currently, Bitcoin is trading at around $4000, Ethereum is at $300.00, and Litecoin is at the $55.00 price level.

South Africa’s Second Largest Supermarket Chain Pick n Pay Trails Bitcoin Payments

We will now focus our attention to the second largest supermarket chain in South Africa called ‘Pick n Pay.’ They are now partnering with Luno to allow Bitcoin payments. Pick n Pay executive Jason Peist is noted as saying “Cryptocurrency and Bitcoin are still relatively new payment concepts, yet we have been able to effectively demonstrate how we are able to accept such alternative payments.” South Africa is a hot-bed for cryptocurrency adoption and ranks fourth in Google trends on Bitcoin related searches.[1]

Namibia Weary of Bitcoin but Acknowledges Blockchain

Going up north from South Africa, we now reach the Republic of Namibia where their national bank is weary of Bitcoin but acknowledges blockchain technology. The bank says it does not consider Bitcoin to be legal tender and that people transacting with the cryptocurrency must be careful. The bank issues warnings against money laundering and fraudulent activities. Basically ladies and gentlemen, this is the same old news we hear everyday from other countries. Another bank is afraid. When are these guys going to learn and stop fearing Bitcoin adoption?[2]

Five Things Nigerians Need to Know Before Putting their Money in Bitcoin

And lastly this is a rather light article...An article by Vanguard Nigeria, a well known online news publication site is trying to educate Nigerians on what they need to know before putting their money in Bitcoin. The first one is more people are using Bitcoin everyday, retailers and vendors are accepting Bitcoin, Bitcoin transfers are fast and flexible, it's extremely volatile, and lastly treat it as speculation and not as an investment. This shows education of Bitcoin is growing along with adoption.[3]

That is all for today ladies and gentlemen. Once again I will go into detail and commentary on these topics for the rest of the week. Please watch for new videos on the YouTube channel and on Steemit as well. Thank you for watching Bitcoin Flash!

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Nick is a content creator for Sobuka with a background in programming, information technology, finance and digital forensics. He shares interest in cryptocurrencies by reporting on International Affairs. You can find myself, B, and Laura here from time to time.

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Relevant Sources

[1]. "South Africa’s Second Largest Supermarket Chain Pick n Pay Trials Bitcoin Payments." By Kevin Helms. 9/19/2017. https://news.bitcoin.com/south-africas-second-largest-supermarket-chain-pick-n-pay-trials-bitcoin-payments/

You might be interested in the following Steemit articles/videos from Sobuka relating to South Africa:

1. Title: South Africa’s Online Retail Increases with Bitcoin Payments. Weblink: https://steemit.com/southafrica/@sobuka/south-africa-s-online-retail-increases-with-bitcoin-payments

2. Title: ...South Africa’s Bitcoin Situation. Weblink: https://steemit.com/bitcoin/@sobuka/bitcoin-breakout-looking-at-tenx-and-monaco-south-africa-s-bitcoin-situation

3. Title: ...Korea Legalizes Bitcoin. South Africa Regulates Bitcoin. Trump Trade Impacts Latin America and Dubai Coin. Weblink:
   https://steemit.com/korea/@sobuka/korea-legalizes-bitcoin-south-africa-regulates-btc-trump-trade-impacts-latin-america-and-dubaicoin

[2]. "Namibia Weary of Bitcoin but Acknoeledges Blockchain. By Olusegun Ogundeji. 9/18/2017. http://www.itwebafrica.com/fintech/853-africa/240263-namibia-weary-of-bitcoin-but-acknowledges-blockchain

You might be interested in the following Steemit articles/videos from Sobuka relating to Anti-Money Laundering and Know Your Customer Laws:

1. Title: Bitcoin News In Africa, Latin America, Middle East Ripio Exchange, Onegram Ccoin, AML KYL Sage Harbor. Weblink: https://steemit.com/bitcoin/@sobuka/bitcoin-news-in-africa-latin-america-middle-east-ripio-exchange-onegram-coin-aml-kyc-sage-harbor

2. Title: This Week in FUD. 09/03/2017 - 09/09/2017. Weblink: https://steemit.com/bitcoin/@sobuka/fud-week-in-bitcoin

3. Title: Venezuela Hopes to Legalize Bitcoin. Bitcoin in Latin America Series. Weblink: https://steemit.com/bitcoin/@sobuka/venezuela-hopes-to-legalize-bitcoin-bitcoin-in-latin-america-series

[3]. “Five Things Nigerians Need to Know Before Putting Their Money in Bitcoin.” By Vanguard. 9/14/2017. https://www.vanguardngr.com/2017/09/five-things-nigerians-need-know-putting-money-bitcoin/

Disclaimer
The information on this blog is not financial advice. Before you invest in cryptocurrencies, please speak to a financial advisor.