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Vote With Bitcoin – A New Bitcoin-Based Crowdfunding Platform



bitcoin crowdfunding

Crowdfunding has been instrumental in opening opportunities that were previously unimaginable for entrepreneurs, startups, and innovators. Crowdfunding platforms allow people that have innovative ideas but lack the funds to raise the money they need from individual investors to turn their ideas into a reality.

A Lack of a Level Playing Field in the Crowdfunding Sector

However, not everyone has access to crowdfunding platforms. Unfortunatley, not all participants are on the same level playing field.

For example, any project can be declined by a platform operator for a number of reasons. In 2012, leading crowdfunding platform Kickstarter revamped their policy due to a couple of late and questionable projects being submitted. The tightened requirements resulted in a wave of rejected projects that needed to look elsewhere for funding opportunities. Furthermore, a crowdfunding campaign needs a marketing budget to gain traction with users and not everyone has the necessary budget. Also, there are some ideas that are not suitable for the traditional crowdfunding audience such as political projects for example.

To address these challenges Vote With Bitcoin was founded as a platform that emphasizes action over advertising.

Vote With Bitcoin – A New Bitcoin Crowdfunding Platform

On the new crowdfunding platform Vote With Bitcoin, you can publish a project and get it funded with no upfront costs through contributions in bitcoin. What is required to publish a project is a short brief on what it’s intended for, a link to its website and social media feeds. The process is free from interference by intermediaries and takes only a few minutes.

The user-driven approach ensures projects are not subject to approval by a central authority. Instead, users decide which projects they deem worthy by “upvoting” them with bitcoin contributions.

What makes the Latvia-based platform revolutionary is the use of bitcoin to upvote projects. Users who like an idea can send bitcoins directly to the project creator’s wallet, with no middlemen involved. Additionally, there are no fees involved when you upvote using bitcoin (minus the bitcoin transaction fees of course). spoke to founder Jānis Sprenne about the future of Vote With Bitcoin. He told us:

“[Vote With Bitcoin] is here to stay, and we will continue to develop it step-by-step to offer the best service for our users. We see a huge potential in what we are doing. The design, development, and monitoring of the platform takes a lot of time and resources to maintain, so the funds that we have raised up until now and those raised in the future will be used to further improve VWB functionality and user experience.”

As fiat currencies in many parts of the world continue to be plagued by inflation and economic uncertainty, adoption of bitcoin and other global digital currencies will likely continue to rise and, therefore, so will bitcoin crowdfunding.

Crowdfund For All Sorts Of Projects

VoteWithBitcoin is not only limited to commercial projects. They believe that many future projects listed on the platform will be of a political, social or charitable nature. Some of them will be so disruptive in their industries that traditional crowdfunding platforms may not be the best fit for them. The platform also aims to help shape social and political events by being a platform that can help raise funds and spread a message.

Vote With Bitcoin is a revolutionary idea that democratises crowdfunding by allowing anyone around the world to raise funds by leveraging the digital currency bitcoin. If you are running an NGO, are launching a charitable project or have an idea for a startup, try out Vote With Bitcoin to raise money for your venture.

To support the growth of this new next generation crowdfunding platform, has launched its own bitcoin crowdfunding campaign on VoteWithBitcoin. We are looking to raise funds to further develop our platform and to expand our team of writers.

If you like what you are reading on, please contribute to our crowdfunding campaign! 


Online Retailer Newegg Now Accepts Bitcoin in Kenya, Nigeria, South Africa, Tanzania, and Uganda



Bitcoin Accepted

Online retailer Newegg has expanded its bitcoin acceptance to 73 countries, including Kenya, Nigeria, South Africa, Tanzania, and Uganda.

Newegg and BitPay Partnership

NeweggNewegg has been collaborating with BitPay since 2014 to facilitate bitcoin payments in the US and Canada. “Since this initial implementation, not a single chargeback has been required for any bitcoin transaction on Newegg. The companies now build on this successful collaboration by extending the bitcoin payment option to the 73 new countries announced today,” an official statement said.

BitPay processes bitcoin transactions worth more than $1 billion yearly for its e-commerce partners. The bitcoin payments company uses blockchain technology to offer transparent transactions and to eliminate chargebacks. BitPay also “enables Newegg to increase its margin on each bitcoin transaction by avoiding credit card fees typically assessed on credit card purchases.”

Anthony Chow, Newegg’s president global sales, said: “Five years ago, we were one of the first major online shopping destinations to accept Bitcoin, and our early-adopter customers were quick to embrace this new payment option. Broadening the ability to pay with bitcoin to the majority of our global network underscores our commitment to bring innovation to the online shopping experience, and answers customers’ growing preference for our bitcoin payment option.”

Newegg sells products such as electronics, gaming equipment, and smart home appliances to over 38 million registered users in North America, Latin America, the Middle East, Europe, and the Asia Pacific.

Buying Products with Bitcoin

Buying items on Newegg with bitcoin is simple. Like with other online shopping processes, you add your items to a cart and select the shipping address of your choice. Once you do this, you proceed to choose bitcoin as the payment option of your choice, review your order, and then pay using BTC. Newegg allows users to pay using computer-based, web-based, or smartphone-based digital wallets.

While South African payments service PayFast recently dropped bitcoin, Newegg is extending this payment option to more people across the globe, highlighting the benefit of using a borderless, decentralised digital currency to shop online.

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How Popular is Bitcoin Gambling in South Africa?



Bitcoin Gambling in South Africa

Ever since bitcoin launched in 2009, it has had a tremendous impact on many different industries, including online gambling. Having a reliable and secure payment method is imperative in order to have a worthwhile gambling experience, no matter which forms of betting you subscribe to.

When online gambling websites began accepting bitcoin, players all over the world had the ability to make quick and easy payments, while also maintaining privacy. In a sense, bitcoin (and the cryptocurrencies that followed) started a revolution in the online payment sphere and its impact has been felt all over the world.

One country that has significantly enjoyed the benefits of bitcoin is South Africa. South African gamblers are becoming ever more fond of cryptocurrencies and bitcoin ranks among the most-used.

Bitcoin’s Popularity in South Africa

Before we can explore the prominence of bitcoin gambling, we first have to take a look at how well cryptocurrencies are received in the country.

While bitcoin is popular all over the world, it is especially liked in developing countries. Nowhere is the previous statement more true than in South Africa. In a recent study, researchers found that bitcoin ownership in South Africa exceeds the world average by two times. It is estimated that 5.5 percent of the global population owns cryptocurrency, while in South Africa 10.7 percent hold a crypto balance. In the previous year, crypto transfers have increased by 25 percent in South Africa in a trend that seems to have swept over the entire continent.

This Calvin Ayre opinion shows that the transactions are used for both financial and recreational purposes, meaning that cryptocurrencies including bitcoin are becoming a part of everyday life. As one can imagine, recreation can also cover online gambling and there is a rising number of people using bitcoin to place bets on their favorite casino games or sporting events.

The Dark Side of Bitcoin Gambling in South Africa

bitcoin gambling in South AfricaCryptocurrencies are becoming increasingly more popular in South Africa. However, one thing that many overlook is that bitcoin and altcoins are not regulated by any government authority. Effectively, bitcoin is not recognised as a legitimate and official transaction solution. So how does this affect the online gambling scene?

Аnother article about bitcoin for gaming shows that crypto gambling in South Africa is illegal due to lack of regulations from the appropriate authorities. Any South African players engaging in bitcoin gambling is doing so at their own risk and no government institution can step in to assist them in case of fraud. That is not to say that all gambling operations accepting bitcoin from South Africans are fraudulent, but there are no fail-safes and no measures in place to protect users.

So far, the South African government has been slow in implementing some if any regulations to ensure the rights of online players and the safety of any crypto enthusiasts.

Of course, this does not even begin to tackle the problem of regulating bitcoin and cryptocurrencies in general. The added anonymity features and the lack of centralised supervision make crypto hard to regulate.

Moreover, identifying the owner of a wallet is downright impossible without cooperation from other parties. This does not account for the fact that crypto users are developing additional measures to protect their anonymity when using their currency of choice, e.g. hardware wallets or dispersing their funds across multiple wallets.

Future of Bitcoin Gambling in South Africa

It is clear that the South African gambling scene is ripe for further implementation of bitcoin and blockchain technology. However, slow actions on the government’s side will likely stall any potential progress and leave all bitcoin gambling operations in a legal gray area, at best.

Unless regulators take a more proactive approach, it is unlikely that any significant developments will be made in the near future, putting thousands of gamblers at risk.

Naturally, placing the safety of its citizens should be the South African government’s first priority and ensuring that no fraudulent operation remains active for long.

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South African Online Payments Processor PayFast Drops Bitcoin



PayFast Drops Bitcoin

South African online payment gateway PayFast will cease supporting bitcoin payments from July 20, 2019, due to high transaction fees and long confirmation times. The company expressed its frustrations through an announcement on its website.

Bitcoin’s Current Limitations

PayFastAlthough digital currency is meant to make online transactions cheaper, faster, and convenient, PayFast observed that bitcoin’s current limitations have made it difficult for the company to offer it as an alternative to traditional payment methods.

“Unfortunately, there are a number of limitations and design flaws unique to Bitcoin that make it an impractical substitute for cash, including high transaction fees and long confirmation times for buyers. We have tried various ways to mitigate these problems, but unfortunately, these issues are fundamental. The resultant poor user experience has led us to re-evaluate Bitcoin as a payment method on our platform and a decision has been taken to discontinue support for Bitcoin from midnight 20 July 2019,” PayFast explained.

The PayFast platform has a ten-minute window for the confirmation of bitcoin payments. However, the Bitcoin network has failed, in most cases, to confirm payments within this time period resulting in unsuccessful transactions. The Bitcoin network can currently not handle the volume of transactions it gets at a faster speed, PayFast noted.

Luno has been enabling bitcoin payments on the PayFast platform by acting as an intermediary. “To eliminate any risk posed by bitcoin’s price volatility, Luno locked the bitcoin to ZAR exchange rate for a ten-minute window. If the transaction was not sufficiently confirmed within ten minutes, the payment was unsuccessful and a refund would be due,” PayFast said.

The Bitcoin network can only handle seven transactions per second compared to VISA’s 24,000. This limits bitcoin’s usefulness as a means of exchange and an asset. Moreover, users making payments using bitcoin risk incurring non-refundable processing fees when the transaction fails.

Despite these challenges, the Lightning Network promises to improve bitcoin transactions by making them instant, low-cost, scalable, and acceptable across different platforms.

PayFast Remains Open to Cryptocurrency

PayFast hopes that as this space continues to grow, cryptocurrencies will be able to handle faster payments.

“We are eagerly following the developments of cryptocurrencies and the supporting technologies that are aiming to enable faster payments. As soon as these become workable alternatives, we look forward to supporting cryptocurrencies as a payment method in the future,” the South African company stated. 

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