Скачать или смотреть ABCT26 | From Scams to Bitcoin Sovereignty: SA Lessons from Karatbars & GSB by Louis Nel

Welcome to the Adopting Bitcoin Cape Town 2026 conference!

Louis Nel has something to share!

In this talk, the speaker shared their multi-year journey exposing the Karatbars and GSB (Gold Standard Partners/GS Partners) scams in South Africa. These schemes involved unfulfilled promises of gold-backed cryptocurrencies and related investments, resulting in significant investor losses and prompting regulatory warnings from bodies such as South Africa's Financial Sector Conduct Authority (FSCA) and international regulators.

As a whistleblower who faced intimidation and SLAPP-style lawsuits, the speaker described how centralized multi-level marketing (MLM) schemes exploited hype and unrealistic returns, in stark contrast to Bitcoin's transparent, decentralized nature. Amid South Africa's ongoing challenges—including high inflation and large unbanked populations—the speaker offered lessons on achieving self-sovereignty through Bitcoin education and the use of non-custodial wallets.

The talk noted multi-jurisdictional settlements in 2025 that facilitated refunds for some victims. Overall, the session highlighted Bitcoin's role in fostering parallel financial institutions where traditional authorities fall short. Attendees received practical tips on spotting scams, building community resilience, and accelerating grassroots Bitcoin adoption across Africa. Drawing on their experience as a Bitcoin advocate involved in savings experiments and security practices, the speaker aimed to empower participants at all levels to build toward a more sovereign financial future.

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