RT @MartyBent: Bitcoin seems to be helping people at the edges. This is one of the best pieces I've read all year.
If anything, it shows that humans are extremely resourceful & adaptive and that Bitcoin provides an avenue through which we can expand our creativity.
“While this process may seem complicated, Nigerians who engage in these trades tell me that the entire process can be completed in 20–30 minutes with the end result being that local Nigerian currency arrives to the family member’s Nigerian bank account.”
Matt is quickly becoming my favorite high signal Bitcoin data analysts. Another tour de force on P2P exchange data.
"Paxful is truly a showcase of the interesting, beautiful, novel, and bizarre ways that Bitcoin is manifesting itself into our world." https://t.co/YbJBlgmQep
I was the author of this piece. This wasn't a 'promotional' piece for them and no one associated with them has paid me at all. I am actually paid by dlab, a VC company interested in researching these things. If you notice I also drew attention to potential bad things happening on Paxful as well. Feel free to ask any other questions.
I think the cards are much easier for underbanked folks. Getting Bitcoin requires formal banking most of the time. There is definitely potential for bad stuff as well and I did my best in addressing that in the article. Very hard to estimate proportion of each.