Bitcoin – Africa Tech Digest

A statement issued by the Reserve Bank of Malawi (RBM) has warned people in the country that cryptocurrencies are not to be used as legal tender for goods and services in the same way they would use the country's currency, the Malawi Kwacha. This comes as more and more people in Malawi have been enquiring about using cryptocurrencies, especially Bitcoin, as a form of payment or receiving payments. The statement was issued by RBM Governor, Dr. Dalitso Kabambe, who also added that RBM had noted with concern increased public interest in cryptocurrencies as observed through the growing number of enquiries on the subject received from the general public and other stakeholders. “Reserve Bank of Malawi wishes to advise the general public that cryptocurrencies are not legal te...

Eugene Mutai is well aware of the risks of mining virtual money. "Sometimes I ask myself: will the bubble pop? "He's right to be, cryptocurrencies are volatile. That hasn't stopped him from operating in this shadowy and controversial corner of the global financial system. A few years ago Mutai was working odd jobs on farms in rural Kenya. Now he's a cryptocurrency miner in Nairobi. His apartment where he mines, is dimly lit blue and drowned with the low drone of a self-made cryptocurrency computer rig. Mutai began researching cryptocurrencies last year. "I was curious about what was making these alternative coins drive. "Bitcoin was hard to mine by that point in time," Mutai tells CNN. There were already many Bitcoin miners. Instead, Mutai started mining Ethereum, a similar but less we...

Tag: Bitcoin

Malawi warns against cryptocurrencies

Inside the world of a Kenyan cryptocurrency miner