Saturday, 11 August 2018

Radio show notes - week beginning 6th August 2018

Source: Wikipedia
1. Is Bitcoin a pyramid scheme 

No, but it attracts them.

Bitcoin is a cryptocurrency, discussed many times before.

The problem is that it's surrounded by a vast number of scams, pyramid schemes, Ponzi schemes and fake cryptocurrencies such as Pipcoin, Billcoin, OneCoin, DasCoin.

If you want to experiment with these new technologies then do so. They're probably the future of money but they are currently very high risk. As with any speculations, you should only spend what you can afford to lose.

2. Is BPC stealing from us?

People are complaining about electricity costs, suggesting that the are much more expensive then ever before. Some ever suggest that Botswana Power Corporation are "stealing" our money somehow. Can this be true? Or are we using much more electricity than normal?

Firstly, BPC prices went up significantly in April.

Secondly, it's winter. It takes more energy to heat things and then to maintain a fixed temperature and more still to maintain those temperatures when the surroundings are colder. It's a matter of physics.

Thirdly, BPC have a banded pricing system. The first 200 kWh are priced at one level (currently P0.6993), then, once that quantity has been consumed, the price goes up to a high level (currently P0.9711). Not only does the cost increase when you consume more electricity, the price per unit does as well.

Fourth, and this is just conjecture, I suspect that our perceptions of electricity consumption have changed since prepaid meters were introduced.

Add all these together and I think it's easy to understand what it seems that prices have gone up so much. But no evidence that there's a sinister conspiracy to "steal our money".

3. Should stores have toilets?
“I want to understand - aren't customers supposed to be assisted with toilets in shops? I was once denied use toilet in one of the reputable shops. Today I got to one of the big shops, I was told it was for staff only. After begging for use of toilet through the manager I was let use it. I got to yet another store at I asked for toilet, I was told I should be searched before I could be allowed to use the bathroom and after telling them I would rather leave than submit to such demeaning treatment I was allowed use of toilet. My issue is are customers not supposed to have access to such important facilities especially at malls or shopping complexes, even if they can be pay toilets?”
Stores probably not, mainly for security reasons. Shopping centers? Yes? And yes, they should be free because we are already paying for them in the prices we pay the stores who then pay their rent to the shopping center.

4. Inter African Investment and Loan Company

Does it really need explaining?

5. Unknown callers
“Someone called me today from South Africa that they have been engaged to do a back ground check on my company. I requested them to send me an email including their details and also those of their principal who has sent them so I can also do a background check on them. They have not responded up to now. Please advise what should I do, tried to call the number but it goes unanswered but charges.”
How do you know the person calling is real? Adopt the approach this consumer used. Demand their ID first. Otherwise who knows who's really calling.

6. Can I return things?

A consumer bought a sewing machine for P13,500 in 2016.
“I returned back to them a week after buying, upon returning it,the manager refused to take it back saying once you have bought something from them you can't return it which is not written on the receipt.”
She went to the Consumer Protection Unit, who encouraged both parties to engage in dialogue. The store agreed to take it back and sell it on her behalf. Eventually managed to sell for P9,600 but
“they never consulted with me about the price they are planning to sell it for.”
Furthermore, the store now says they're taking a 20% charge, leaving her with a balance or around P7,000.

Firstly, did she even have the right to change her mind? No, unless the item she bought was not “of merchantable quality” of if the store deceived the consumer somehow. There's no right to change your mind.

Meanwhile, there is good news. During the dialogue the store agreed, in writing that they would only sell the item if she agreed to the selling price and that they wouldn't deduct anything from that amount.


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