Bitcoin in Uganda – Empowering People

Bitcoin in Uganda – Empowering People


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

66 Comments

  • Svane

    May 16, 2014

    This is exactly where bitcoins could be of most use! 

    Reply
  • Jantje Safari

    May 16, 2014

    Great made mi happy………..

    Reply
  • DVS DVSDVS

    May 16, 2014

    Freaking awesome! People with stories like this give me hope for the future. Time for plan B.

    Reply
  • Dash Infonode

    May 16, 2014

    ….great vid. As the Bitcoin payment network continues to expand…things will become more user friendly and easier. Remittance – bits will be easier cash in and out of if req'd. YES… top vid.

    Reply
  • CRI

    May 16, 2014

    Jacob & gang, what an amazing movie you have made. Not just flying out to Uganda for this movie to meet and interview Ronald, but so beautifully shot and edited. By doing one story well, you have given us the best coverage of the remittance market yet. So happy to have been a part of it. Thanks – James

    Reply
  • Andrew Stone

    May 16, 2014

    I like this video.

    Reply
  • cybrbeast

    May 16, 2014

    What is Ronald's Bitcoin address?

    Reply
  • Bruce Wagner

    May 16, 2014

    To the filmmaker: Please check out this free open source idea. It's NOT a business. BuyBitcoin.com

    Reply
  • Bruce Wagner

    May 16, 2014

    To the film maker – please check out this free open source idea – it's NOT a business. Buy Bitcoin . com ( all together ).

    Reply
  • balibule

    May 16, 2014

    well done!

    Reply
  • Tierra Buena Delivery

    May 16, 2014

    muyyyyy bueno!!!! saludos jacob!!! cuando andas por argentina?

    Reply
  • Rene Sabin

    May 16, 2014

    Thank you for this great movie! I just pulled out my phone and send a few mBTC. Bitcoin is really mindblowing. It makes the world a much better place.
    James, I appreciate your work too, you are very inspiring. 

    Reply
  • Luke Parker

    May 16, 2014

    What a breathtaking film! I can't wait to share it around, but I had to say thanks. Thank you Jacob & James for your awesome work making this beautiful case study of hope. 

    Reply
  • Ed Waggoner Sr.

    May 17, 2014

    I love Bitcoin but I always have this question which is never answered.  I get my Bitcoin in Uganda but I need to convert it to local currency, what is the cost to do that?  10%   20%?

    Reply
  • Frank Flores

    May 17, 2014

    While the promise of #bitcoin  to help the under and unbanked communities of the world become more economically vibrant, it will not resolve the problems of money.

    Please investigate a resource based economy.

    Reply
  • Michael Eliot

    May 17, 2014

    Dude, author, you are amazing 🙂 this is fantastic! 😀

    Reply
  • Chinthamani Chary

    May 19, 2014

    I like this video, but the closeup of backsides at 1:30 is jarring.

    Reply
  • Joel Hampton

    May 19, 2014

    Great job on an excellent and well put together video! 

    Reply
  • Faris

    May 19, 2014

    Subscribed.

    Reply
  • Matthew Bosward

    May 19, 2014

    Excellent.  Thanks for sharing.

    Reply
  • Ryan Charleston

    May 20, 2014

    Awesome! Gets me all excited about Bitcoin all over again!

    Reply
  • Nathanael Ries

    May 20, 2014

    "I think if we can have a currency that is not controlled by the government, everyone would be equal." – Ronald

    Took the words right out of my mouth, brother!

    Reply
  • obione888

    May 20, 2014

    Brilliant! Its also good that Bitcoin rate has been quite steady these last few months…it is gaining ground & helping people 🙂

    Reply
  • Denny Robert

    May 21, 2014

    Who is buying Ronald's bitcoin? Is he able to exchange directly for the goods and services he needs, or is someone exchanging Ugandan fiat for BTC?

    Reply
  • Ricardo H

    May 21, 2014

    Bitcoin is big business

    Reply
  • Ansel Lindner

    May 22, 2014

    Beautiful video! Power to the people!

    Reply
  • r smith

    May 22, 2014

    Finally a a human interest story I could share with my dear old mom about Bitcoin. Also important – Props to the makers of the film, and much love to the subjects who are committed to education and improving the quality of life for Ugandans. 🙂

    Reply
  • Riley Alexander

    May 24, 2014

    such an amazingly well done video!

    Reply
  • Hardeep R

    June 3, 2014

    Please let me know how I can exchange into from my rupee. also how do I buy some bitcoin from india rupee? I have my wallet all ok. Wallet address: 1A6hvGvCA2kGRny98GCWiBgLFrqGJeYbAn but I cannot buy bitcoin in india yes? Coinbase will not take work with bank of india. There is one or 2 shope downtown now that I know take bitcoin for electronic equipment. I believe it can grow to much more numbers throughout india as many people use mobile phone here. mobile market is on the large scale. Most people in my country as myself cant afford to much coin anyway. now $1USD of bitcoin in mycountry worth 59 Rupee so 0.001595BTC = about 59 rupee. very expensive. are there any minimum order you must make on most exchange? also what exchange can work with india bank?

    tahnk you I appreciate this community support

    – Hardeep R

    Reply
  • gdaaps

    September 22, 2014

    Masterpiece.

    Reply
  • Tamam International Solutions, LLC

    October 3, 2014

    Very good and informative video on how Bitcoin is used and effecting people world wide.

    Reply
  • Florencia Aenlle

    November 20, 2014

    Este documental se proyectará en el Bitfilm Festival Buenos Aires, el 29 de noviembre de 2014: http://allevents.in/retiro/bitfilm-festival-buenos-aires/372467912909348

    Reply
  • DoN QuijoTe

    December 14, 2014

    Oh hello! Have you considered – Brians Bitcoin Big Bang (do a search on google)? In case you are serious about making money with Bitcoin, Ive heard some amazing things about it and my mate got excellent results with it. 

    Reply
  • Ana Amku

    December 14, 2014

    Hello there! Have you heard about – Brians Bitcoin Big Bang (do a Google search)? If you are seriously interested in making money with Bitcoin, Ive heard some great things about it and my friend got excellent results with it.

    Reply
  • youtfranci

    January 3, 2015

    777 bits tip @ChangeTip 

    Reply
  • Zen

    January 27, 2015

    What a wonderful and touching film. I really hope Bitcoin can continue to improve the lives of people all around the world 🙂

    Reply
  • David Vice

    February 10, 2015

    Can you imagin what kind of spending power the average person can have if we cut out the manipulators of currencies …..

    Reply
  • Darnley Howard

    February 18, 2015

    How many shillings did Ronald receive when he exchange his bitcoin that his sister's fiance sent him. When we know that we'll know the true cost of the transaction. $30 of bitcoin = ?Shillings

    Reply
  • collins murithi

    June 20, 2016

    I am new to bitcoin but youtube has played a vital role in quenching my thirst so far. I want someone to help me understand how the process is though. I am from Kenya, Africa. Reach me via email please, i will appreciate [email protected] com

    Reply
  • NetworkerCol Bitcoin Staff

    July 2, 2016

    That´s why BitCoin will change the world

    Reply
  • Hélio Dias

    July 19, 2016

    Hey folks let´s have a whatsapp group so we can discuss and help each other getting things right with bitcoin . if you have a whatsapp account add me . Just let me know why you add me and I will add you to the Bitcoin World W Group +559498150-8410 – anything less then being serious about this , I will delete you from the group! Thanks

    Reply
  • Ongom Alex

    December 9, 2016

    Hello, i live in Uganda been writing news about bitcoins for one year now, if you have any challenge handling BTC or any query please write me right away i will be glad having chat about BTC with you.

    Reply
  • Atalantia Sorens

    May 26, 2017

    We have to call the banks by theres real name: gangsters. This are the real gangsters not those millions who sit in prison because of so called finance offenses.

    Reply
  • Tabs T

    July 15, 2017

    There are only fees in this situation because he exchanged that bitcoin for shillings. But if shops and businesses accepted bitcoin there would be no fees to pay. Just use bitcoin for transactions.

    Reply
  • Shlomo

    September 6, 2017

    What was the soundtrack? Was it original for the film?

    Reply
  • Solid money

    November 13, 2017

    Thanks to the blockstream people this can no longer done with bitcoin for these types of purposes fee's are simply to high at times upwards of 5 dollars or more.. Luckily there are alternatives now. I would say look at Dash, they have the lowest fee's by far, normal transaction fee's are less than a dollar cent.

    Reply
  • UG HomeBoy

    December 4, 2017

    wow i just wish i knew about bitcoin at the time the film was published. I am now a newbie into cryptotrading to change my life too for the better.

    Reply
  • jessica james

    December 10, 2017

    HELP RONALD HERE
    1PrNDd3WvYojpk4pPXtg3UrxD4ozhT4SvW

    Reply
  • AvariceUntied

    December 12, 2017

    Really Bitcoin now has worse fees than Western Union. Sent 1 euro to a buddy the fees were 3 euros. WTF!

    Reply
  • Happy D

    December 27, 2017

    Rourkela is the capital of Bitcoins !!!

    Reply
  • LisaMargaret LiveUrLifeFree

    January 9, 2018

    This is beautiful. I have to sent money to my charity in Kampala today. How best to send it to my co-founder who is new to digital currency. Can you help us with what to use and where to go? Let's comment in facebook

    Reply
  • mike P

    January 10, 2018

    I bet they are all rich now LOL

    Reply
  • oggeman

    January 14, 2018

    You do not kno da wey

    Reply
  • Lubo Kanev

    January 20, 2018

    So sad that Bitcoin can't help them anymore 🙁

    Reply
  • V-Котэ

    January 24, 2018

    Bitcoin knows da wae!!!

    Reply
  • star captain

    March 9, 2018

    For anyone who is interested in the link: https://www.btcprivatewallet.org
    I have tried to get those free BTCP coins using exchanges,
    but my coins where on another exchange site.

    Reply
  • Peter Meissnitzer

    March 15, 2018

    BITCOIN is already making a difference , in the third world and this is just the start.

    Reply
  • David Jimerson

    April 17, 2018

    Where do I apply for donations to be able to buy a house in Nigeria? (I take bitcoins too)

    Reply
  • Rhima Mze hamadi

    May 17, 2018

    get more bitcoin with DMS (digital market service) www.learnearnown.com/rhima or ask me how skype: rhimamze

    Reply
  • SplendorMan

    September 9, 2018

    wait a second isnt that the guy from the channel called 'CRI' ?

    Reply
  • Lukas Hladik

    January 19, 2019

    Good

    Reply
  • qwerty at

    January 29, 2019

    이걸 2016년에 봤더라면

    Reply
  • Jenn M Choi

    February 10, 2019

    Believe in bitcoin! Looking forward to proving any critics wrong in the future freer world with crypto.

    Reply
  • Squirtle

    April 26, 2019

    I got this on the parcc test

    Reply
  • -

    July 6, 2019

    they eat DA POO POO we must show them DA WAY

    Reply
  • Gideon Gabriel

    October 23, 2019

    If Bitcoin becomes ubiquitous, even to the low-income segments, it's an answer to financial inclusion. I can't wait to witness this revolution in the financial sector.

    Reply

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