Fun

News Feed - 2023-10-30 09:10:00

Joe Hall11 hours agoBitcoin builder climbs Africa’s tallest mountain to raise awarenessAdvocates for the Bitcoin Lightning Network and decentralized protocol Nostr funded Kweks’ Kilimanjaro climb.2912 Total views35 Total sharesListen to article 0:00NewsJoin us on social networksA Bitcoin (BTC) educator based in Tanzania has scaled Africa’s highest peak, Kilimanjaro, financing the entire trip through Bitcoin and Nostr donations.Kweks poses with a Bitcoin and NOSTR flag at the summit of Kilimanjaro. Source: X (formerly Twitter)


Kweks (not his real name) crowdfunded over $1,700 in Bitcoin (0.0018 BTC) to cover the costs of the hike, which doubled as an announcement for a new Bitcoin education academy in Tanzania.


Kweks and his wife recently moved to a new city in Tanzania to open a learning center called the “Proof of Work Academy,” or POWA. Kweks told Cointelegraph that while POWA is a pun on Bitcoin’s consensus protocol, proof-of-work, it also refers to the Zwahili word “Poah,” which means fresh or cool.


To promote the new school and subtly hint at his affinity for decentralized protocols, including Bitcoin and Nostr (notes and other stuff transmitted by relay), Kweks funded the ascent to nearly 6,000 meters in satoshis or sats, which are the smallest denomination of Bitcoin equal to 100 millionth of 1 BTC.


Bitcoin Lightning Network donations streamed in from all around the world via crowdfunding on Geyser Fund and through Zapraising, which is Bitcoin Lightning Network crowdfunding via Nostr (also called Zaps.)The moment Kweks reached the fundraising milestone. Source: X


Kweks carried and waved a giant Nostr flag while sharing status updates throughout the multiday hike on X, Nostr and WhatsApp. Speaking from Tanzania, Kweks explained to Cointelegraph that while the money raised was meaningful to cover the costs of the climb, the impact was primarily educational:“I thought it [the ascent] would be a great case study to show what Bitcoin can do and then introduce some people to Bitcoin as well.”


The ascent demonstrated to his local community that a global base of Nostriches (users of Nostr) and generous Bitcoin advocates worldwide were happy to support Kweks’ climb and educational work on the ground in Tanzania.


Plus, Kweks received a tip from one of the guides leading the party to the summit of “Kili,” as it’s known locally, showing that there is grassroots Bitcoin adoption in Tanzania.


There is, evidently, some understanding of Bitcoin in Tanzania, Kweks explained — but one of the key challenges is off-ramps into local currency. The likes of Coinbase, Kraken and Gemini do not operate in Tanzania, so swapping cash for Bitcoin and vice versa can be challenging.


Throughout the hike, Kweks received questions and curious comments from Tanzanians about how he funded the adventure and the inevitable query: “What is Bitcoin?”


Ultimately, Bitcoin adoption in Tanzania is very different from the United Kingdom, where Kweks spent 25 years of his life before moving to Tanzania.


Related: Hashing It Out: What happens when crypto meets fintech in Africa?


There is, he explains, more of a barter system in place in East Africa. It can be a challenge to explain money and hyperinflation and the reasons why a currency with a programmed inflation rate, such as Bitcoin could offer an alternative economic system to society.“When I arrived in Tanzania ten years ago, $1 was 1,500 hundred Tanzanian shillings. As of today, [$1 equals] 2,600. That’s ten years later. It’s crazy!”


Ultimately, the key to unlocking Bitcoin education is to use terms relevant to people: “I do speak to them about how much bread is going up and how much fuel is going up, and they understand that,” Kweks explained.“They see that it’s harder to make ends meet. So with these concepts, they understand that Bitcoin the tool can help them — and that’s the work. That’s the work that needs to be shared and explored.”


Kweks continues to post and share educational resources on Nostr and X, while the educational resource POWA offers free educational classes to Tanzanians based near Kilimanjaro.


Magazine: Bitcoin in Senegal: Why is this African country using BTC?# Bitcoin# Crowdfunding# Africa# Lightning Network# Lightning# TanzaniaAdd reactionAdd reactionRead moreWhy the 2024 Bitcoin halving may play out differently than in the pastBitcoin is evolving into a multiasset networkBitcoin Lightning Network growth jumps 1,200% in 2 years

News Feed

CoinMarketCap Updates and Verifies TON Crystal Listing; TON Now Among Top 5% of Assets by Market Cap
CoinMarketCap Updates and Verifies TON Crystal Listing; TON Now Among Top 5% of Assets by Market Cap sponsored CoinMarketCap, the leading authority on real-time cryptocurrency price
New York Fed and 9 Major Banks to Test ‘Interoperable Network of Central Bank Wholesale Digital Money’
New York Fed and 9 Major Banks to Test ‘Interoperable Network of Central Bank Wholesale Digital Money’ Nine major financial institutions and the Federal Reserve Bank of New Yor
Project Kick-Off: STRMNFT Marketplace Hits 5,000 Registered Users
Project Kick-Off: STRMNFT Marketplace Hits 5,000 Registered Users press release PRESS RELEASE.StreamCoin announced that more than 5,000 users have registered for its STRMNFT marketp
US Consumers Expect Inflation to Continue Rising Sharply According to the Fed’s Latest Survey
US Consumers Expect Inflation to Continue Rising Sharply According to the Fed’s Latest Survey The Federal Reserve Bank of New York published the Survey of Cons
Hester Peirce blasts SEC, Gurbir Grewal rejects SEC criticism: Law Decoded
David Attlee4 hours agoHester Peirce blasts SEC, Gurbir Grewal rejects SEC criticism: Law DecodedGurbir Grewal, the director of the Division of Enforcement at the SEC, has pushed back against criticism that the regulator
Hundreds of Sites Now Earn Crypto Trading Fees: Exchange WordPress Plugin Sees 300 Active Installs
Hundreds of Sites Now Earn Crypto Trading Fees: Exchange Wordpress Plugin Sees 300 Active InstallsA couple of months ago, a new WordPress (WP) plugin launched that allows anyone to
Ancient Bitcoin Block Rewards See Decrease in Spending After Record Activity in 2020 and 2021
Ancient Bitcoin Block Rewards See Decrease in Spending After Record Activity in 2020 and 2021 In 2021, a number of 2010 block rewards were spent after the bitcoins sat idle for mor
HUMAN Protocol Foundation Awards Grant to VeritaTrust to Build on-Chain Rewards for Reviews
HUMAN Protocol Foundation Awards Grant to VeritaTrust to Build on-Chain Rewards for Reviews press release PRESS RELEASE.Georgetown, Cayman Islands, May 10, 2022– Today, HUMAN
Brazil leads LATAM crypto trading with $6B volume in 2024
Ana Paula Pereira3 hours agoBrazil leads LATAM crypto trading with $6B volume in 2024Brazil recorded a 30% increase in crypto trading volume in the first months of 2024, outpacing USD weekly trading volume since mid-Janu
XRP price-to-sales ratio double that of Nvidia
Zoltan Vardai12 hours agoXRP price-to-sales ratio double that of NvidiaThe price-to-sales ratio is used to assess the potential of an investment, with lower ratios signaling more attractive opportunities.8787 Total views
Crypto Trading, Investing Illegal in Iran, Central Bank Governor Reiterates
Crypto Trading, Investing Illegal in Iran, Central Bank Governor Reiterates It is illegal to buy or sell cryptocurrency in Iran, the head of the country’s monetary authority
Mastercard Files 15 Trademark Applications for a Wide Range of Metaverse, NFT Services
Mastercard Files 15 Trademark Applications for a Wide Range of Metaverse, NFT Services Mastercard has filed 15 trademark applications covering a wide range of services relating to