[davycro]

Mr Draper states that Bitcoin is badly needed in resource-poor countries with unstable currencies. How does he expect Bitcoin to compete with mobile currencies such as M-Pesa?

Thinking about it, I imagine that the advantage of Bitcoin is that it can be sent globally, whereas M-Pesa type currencies are restricted to specific countries.

[defo_nonconvex]

Isn't M-pesa backed using the country's currency? What logic of what you're saying sounds like it could imply that "Paypal is it's own virtual currency"...

[logicchains]

It's also harder to tax Bitcoin transactions than M-Pesa transactions, which could provide financial incentive to use it.