In October 2006, Paris Club creditors also agreed to cancel almost 100% of Malawi’s debt owed to them. BIS Review 30/2007  1  These developments, distinguished ladies and gentlemen, reduced Malawi’s external debt from 142% of GDP at the end of 2005 to 23% of GDP at the end of 2006. Other external debt indicators also improved significantly.
Indeed, a recent Bitcoin conference stopped receiving payment in Bitcoin because of the cost and time involved in processing the payments.4 Bitcoin is far inferior to existing payment options. Bitcoin transactions generally require confirmation from six miners. With each block taking around ten minutes to mine, you would expect transactions to take an hour to process.