Sunday, May 25, 2014

Sending Bitcoins from a country to another


Maybe if your reading this you are interested to  know about "bitcoins"  this video is a good example of how practical , bitcoin is as a digital currency.  Sending bitcoins from a country to another country is one basic practical , easiest , fastest and  saves a lot from the services of another party.  Adopting bitcoin in the long run will help a lot of people and countries.  The video portrayal is an experienced from Uganda . A relative is sending money from US to Uganda  and you ll learn how and what is the benefit. 

Here's the video; 


SCRIPT OF THE VIDEO 
ald, and I'm 20 years old. I'm studying bachelors in Accounting and Finance.
0:45
I like money first of all, and I like business. My family lives right here in Makindye.
0:57
My mom, my big sister my brother and a maid stay here.
1:04
My name is Ronah Nansubuga. Ronald is my younger brother.
1:10
I live in Brookline, Massachusetts and I'm from Kampala, Uganda.
1:18
She moved there in 2011 with her fiancé.
1:24
Currently he doesn't work he just goes to college full time
1:28
and i sent him some money for tuition and upkeep.
1:35
It's very difficult to find a job in Uganda so difficult
1:39
even if you have your papers and even if you went to school, it's very difficult.
1:44
Ronah first send me money through MoneyGram last year 2013 in August.
1:50
It was money for my tuition fees.
1:53
MoneyGram and Western Union are great services she needs to get money to Africa
1:57
you know if you put it in an envelope you are going to lose it.
1:59
There is only one issue with these services actually two
2:03
one is the speed the whole process takes like two days
2:07
and the other is the price they are taking 10%
2:11
If she wanted to send 40 dollars which would really help Ronald.
2:15
That's is going to cost her 10 dollars 15 dollars
2:18
so you are taking 30-40%.
2:21
It's more expensive dependent on when you want the other person to pick up the money.
2:28
The banks in Uganda love to take money from the poor
2:31
So if you put in a 100 dollars, in 5 months it's
2:35
going to gone, exactly.
2:39
All kind of fees, all the fees that we fought about in United States
2:42
and basically threatened to put the bank out of business
2:44
they just tag on to Uganda.
2:46
This was why did I buy the first bitcoins was to see if I could send money to her brother
2:53
in Uganda so i facebooked her brother
2:55
who got back right away what you are going to send me money?
2:58
He was given me all the instructions on Facebook. I sent him the 10 cents he gets that
3:05
now I know his Multibit is working so I sent him thirty dollars and I said
3:11
as soon as I've sent it he is like I've got it
3:14
you exchange that to Uganda shillings and I'll send you more.
3:18
I couldn't believe it that I can get money via the internet.
3:22
I opened up my account on the internet and there is money.
3:25
He slapped his laptop shut and put the USB stick in and ran off to the town
3:31
to try to find someone who would purchase his bitcoins.
3:34
I told him that I want to sell him bitcoins. He gave me his wallet address number.
3:40
I sent to his wallet address number. So that I give you hard cash, Ugandan shillings
3:46
and that's how beautiful a remittance market can work
3:49
as long as there is any demand in Uganda and there is
3:52
and it's hard for them to receive it they become person to person exchanges.
4:08
Right now in Uganda so far not a lot of people know about bitcoin
4:13
but for me I use bitcoin because I know somewhere I can sell bitcoin.
4:18
When my sister or my sister fiancé sent me money via bitcoin
4:23
I save a lot of money.
4:24
A cell phone in Uganda for a year is cheaper than the banking fees you get for
4:29
a year.
4:30
So bitcoin fits right in there. Cell Phones are really all their technology
4:34
they listen to the music on it they communicate with it
4:37
to add banking basically for free well that's a no-brainer.
4:41
I can send you money through bitcoin at the lowest rates possible and so instantly.
4:49
You know remittances is 500 billion dollars a year in the world
4:54
I think it's 500 billion dollars a year because it's so expensive
4:59
so imagine we could send 20 dollars.
5:02
I think if we have a currency that is not controlled by the government
5:06
everyone will be equal.
5:08
That's what I think.
Uganda is just one city in Africa, there are more cities and country watch out for more adopters

Start now adopting bitcoins , visit my easy way to get bitcoins on this blog