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
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
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
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 thoughts on “Bitcoin in Uganda – Empowering People

  1. ….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.

  2. 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

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

  4. 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. 

  5. 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. 

  6. 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%?

  7. 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.

  8. "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!

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

  10. 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?

  11. 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. 🙂

  12. 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

  13. Este documental se proyectará en el Bitfilm Festival Buenos Aires, el 29 de noviembre de 2014:

  14. 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. 

  15. 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.

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

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

  18. 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

  19. 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

  20. 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

  21. 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.

  22. Here is a better offer registered now 6 million Naira awaits uu*PRESENTING TO YOU A LOW CAPITAL CASH SYSTEM* A 2×5 Matrix, You earn 16.331 bitcoin from a one time payment of  0.002 bitcoin (N1200) REGISTER WITH THE LINK BELOW*Now how does it work* ===================== LEVEL 1: Starter. Pay your referrer Level 1 0.002 Btc Get 2 x 0.002 Btc = 0.004 Btc – 0.002 Btc (move to 2) = 0.002 Btc profit (750naira) LEVEL 2: Runner. Pay your upline Level 2 0.003 Btc Get 4 x 0.003 Btc = 0.012 Btc – 0.003 Btc (move to 3) = 0.009 Btc profit (3,400naira)LEVEL 3: Pacer. Pay your upline Level 3 0.01 Btc Get 8 x 0.01 Btc = 0.08 Btc – 0.01 Btc (move to 4) = 0.07 Btc profit(26,500)LEVEL 4: Finisher. Pay your upline Level 4 0.05 Btc Get 16 x 0.05 Btc = 0.8 Btc – 0.05 Btc (move to 5) = 0.75 Btc profit (285,000naira)LEVEL 5: Winner, Pay your upline Level 5 0.5 Btc Get 32 x 0.5 Btc = 16 Btc (6,000,000naira)No More upgrades = 16.331 Btc total NOTE: WE ARE A GROUP AND A TEAM SO DOWNLINES WONT  BE A PROBLEM REGISTER WITH THE LINK BELOW

  23. 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.

  24. 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.

  25. 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.

  26. 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.

  27. 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

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

  29. get more bitcoin with DMS (digital market service) or ask me how skype: rhimamze

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