On April 20th, 2024, Bitcoin for Fairness Zambia (BFFZ) hosted a lively meetup at Scallywags Restaurant in Lusaka, Zambia, a restaurant that even accepts Bitcoin! The focus of the evening was a deep dive into two key topics: Bitcoin halving and its impact on miners, followed by a discussion on Bitcoin mining within Zambia.
The main speakers were Andrea Zeederberg and Siddhartha (Sid) Parmar, the co-founders of Quantum Hash Ventures, a Zambian Bitcoin mining company with ambitions to expand across Africa. Their expertise provided valuable insights for the audience.
First, they tackled the concept of Bitcoin halving, explaining what it is and its significance for Bitcoin miners. This process, which occurs roughly every four years, cuts the block reward for miners in half. Andrea and Sid shed light on the technical aspects of halving, while also explaining its economic implications for miners and the entire Bitcoin ecosystem. Attendees gained a clear understanding of how this pre-programmed event impacts the mining reward and, ultimately, Bitcoin’s overall value proposition.
The second topic, Bitcoin mining in Zambia, sparked great interest among the attendees. Andrea and Sid, drawing on their own experiences in establishing a local Bitcoin mining firm, Quantum Hash Ventures, a member of Green Africa Mining Alliance (GAMA).
They offered valuable information on how Bitcoin mining works, the initial investment required to begin a mining operation, such as upfront costs, miner equipment pricing, and most importantly, how they navigate the ongoing challenge of power load shedding in Zambia.
Beyond Profit: Empowering Local Communities
However, the conversation went beyond just technical and financial considerations. The most inspiring part and the true passion of Quantum Hash Ventures lies in empowering local Bitcoiners to get involved in mining and empowering local communities where BTC mining is taking place. They believe Zambians, and Africans in general, shouldn’t just be involved in mining, but should also leverage stranded energy resources – unused energy resources – to benefit their local communities. This broader vision resonated deeply with the attendees because of its potential to boost electrical infrastructure, improve grid stability, and make electricity less expensive, especially for rural communities in Africa.
A Day of Learning and Braai!
The meetup concluded with a commitment to set a date for a site visit. This will give attendees a firsthand look at how a Bitcoin mining operation functions. The event promises to be a fun and educational day that will combine learning about Bitcoin and mining, followed by a quintessential South African braai (barbecue)!
BFF is a non-profit initiative raising knowledge and understanding of Bitcoin for people in emerging countries and for disadvantaged people. The Lusaka Bitcoin meetups are part of BFF’s public bitcoin education activities in Zambia. The initiative was founded by Anita Posch, bitcoin educator, author and podcaster. Other bitcoin meetups organised by BFF have taken place in Ghana, Zimbabwe and Nigeria.
