Re: bitcoin in Ethiopia?????
What about it, you witaf neqay 
Re: bitcoin in Ethiopia?????
Ethiopia is second best place to mine bitcoin because of cheap electricity, but Ethiopia should and have to own as much bitcoin as it possibly can.
Re: bitcoin in Ethiopia?????
ጃል ሲኒ
What does Bitcoin has to do with electricity production now
Last edited by Union on 18 Dec 2024, 00:18, edited 1 time in total.
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Re: bitcoin in Ethiopia?????
14 December 2024
Arizona Man Arrested For Stealing
Upon his arrest, Hussein faced multiple felony charges, including theft, fraud, and money laundering. His case is compounded by the fact he is regarded as a flight risk, as he is known to travel frequently to Ethiopia. During the bond hearing, prosecutors urged strict measures should he post bond, including electronic monitoring and banning all internet access, citing concerns he might destroy any potential evidence.
Re: bitcoin in Ethiopia?????
Bitcoin mining requires a significant amount of electricity, leading Ethiopia to become the second-largest region for Bitcoin mining.
Re: bitcoin in Ethiopia?????
ethiopian,
If I understood you correctly, yes, Ethiopia should enter the global data center business. This means that as Ethiopia begins to produce huge amounts of electricity, we can serve as being data centers for entities like Amazon etc. This is essentially selling electric power.
Introducing cryptocurrency as a financial instrument (as means of exchange) and a securities instrument (as a traded stock) and so on is way to premature for Ethiopian economy and our level of national digitalization.
Of course there is talk of a new money called BRICS. Will this be an older form of money or will it be a digital token? We don't know. So, while a huge % of Ethiopian economy is still an informal semi-barter system, it is way to early to talk about digital money.
But on the other hand, Blockchain Technology (the technology that is going to replace the Internet) is already being used in the national educational system for the purpose of efficient, accurate, big data record keeping and data processing. Blockchain is the technology on which Cryptocurrency runs.
In short, yes, Ethiopia should build and rent out global data centers to market her electric power and also use Blockchain technology for big data management but should not mess around Cryptocurrency for now.
Even bitcoin mining is premature. Bitcoin miners (transaction handlers) need to be highly skilled computer geeks and require a very very powerful computing capacity (the power of many computers put together). The very idea of bitcoin rules out a state owned computer system as miner. The very idea of bitcoin is against and outside of the such existing banking system.
So, if an existing bank or financial system uses socalled cryptocurrency it is not real bitcoin. It is only a form another digital banking system such as digital payment or transaction system used by traditional mediums like banks.
If I understood you correctly, yes, Ethiopia should enter the global data center business. This means that as Ethiopia begins to produce huge amounts of electricity, we can serve as being data centers for entities like Amazon etc. This is essentially selling electric power.
Introducing cryptocurrency as a financial instrument (as means of exchange) and a securities instrument (as a traded stock) and so on is way to premature for Ethiopian economy and our level of national digitalization.
Of course there is talk of a new money called BRICS. Will this be an older form of money or will it be a digital token? We don't know. So, while a huge % of Ethiopian economy is still an informal semi-barter system, it is way to early to talk about digital money.
But on the other hand, Blockchain Technology (the technology that is going to replace the Internet) is already being used in the national educational system for the purpose of efficient, accurate, big data record keeping and data processing. Blockchain is the technology on which Cryptocurrency runs.
In short, yes, Ethiopia should build and rent out global data centers to market her electric power and also use Blockchain technology for big data management but should not mess around Cryptocurrency for now.
Even bitcoin mining is premature. Bitcoin miners (transaction handlers) need to be highly skilled computer geeks and require a very very powerful computing capacity (the power of many computers put together). The very idea of bitcoin rules out a state owned computer system as miner. The very idea of bitcoin is against and outside of the such existing banking system.
So, if an existing bank or financial system uses socalled cryptocurrency it is not real bitcoin. It is only a form another digital banking system such as digital payment or transaction system used by traditional mediums like banks.