Bitcoin Forum

For over a week now I have been  out of my locality to serve as a volunteer in a little underdeveloped area,only for us to to be  told that prior to the week we arrived,some government policies have affected cash flow..nevertheless we where not bothered because we got covered by our host.Not until a day ago when I had to buy a piece of art,longed admired by my mum to surprise her and I could not pay,Network was an issue and cash was not on hand,and I felt I should just ask the seller if we can transac with bitcoin,he said yes he can..I was surprised based on the location and also excited.i was able to buy that piece..i was so  relieved at the same time I felt an unbelievable joy that am part of something that has global value.,bitcoin has added value to the world.

If you have an network issue, how's possible you can send your Bitcoin to the seller? ::)

You're come from Nigeria, so I'm sure you're move into near of Nigeria, so I wouldn't surprised if many people want to accept Bitcoin payment because I've read so many thread where Nigerian citizens are tend to trade via direct P2P due to banking ban.

I don't think you're not have any money when you're leaving your country, at least you still have mobile banking in your cellphone.

By your statement, I guess you must be a Nigerian while referring to the newly implemented CBN cashless policy that has resulted in a scarcity of cash flow in the entire country, because I must say I have once been in that shoe, and all thanks to Bitcoin, as it offers us an alternative way to transact and pay for our goods and service when the banking system seems to fail us because that's the advantage we who are in crypto gets over those who do not know about Bitcoin.

When visiting a supermarket, there are times when we forget to make a cash withdrawal. Hence, if the things accept Bitcoin as payment, you can do so without difficulty. Because there are so many people who withdraw money every day in our country, it can be difficult to get cash out of an ATM at times. Instead, you must wait in line. Because of this, I think Bitcoin has brought value to our economy and will continue to do so.

I am also from Nigeria and I believe the OP was referring to network issues when making bank transactions. Due to heave traffic of transactions or some internal issues, some Banks were experiencing issues with their mobile apps and ussd code option, making transaction impossible.

This does not affect any alternate means of transacting like Bitcoin.

Using crypto at the least you could expect it to be accepted ia worth noticing. Good thing the seller accept it. Most merchants will only accept credit cards or debit banks, but rare to have a bitcoin merchant in a unpopularize area. The only verdict with that transaction is probably if it smooth to send, and hence the fee isnt that much high.

I am a Nigerian,and bank apps havnt been functioning well lately,is actually network issues related to bank..you right on point.

---

Few merchant outlets here accept Bitcoin, some just individual who trade on bitcoin

---

Yes,I am,and that policy has affected  alot of transaction,my access bank app failed to work on the said day,I felt I should just ask the guy,guess he some one who is into bitcoin trading too.

[moderator's note: consecutive posts merged]

I can relate to this because I once deal with a user overseas and there’s no bank transfer available for both our country to do the transaction. We agree to just pay on Bitcoin and I teach her how to cash out his Bitcoin to fiat using Binance exchange. After a couple of tutorials on how to setup account. We finally made a deal and send my Bitcoin to his exchange wallet to make it easier for P2P transaction that needed to convert Bitcoin to his local currency. I was supposed to teach her to use electrum but she need the funds immediately so we have no choice than to transact directly on exchange.

It’s still a good experience and I think she might explore it more since Bitcoin is good to received payment for his product.

From your story, I don't see you explaining how that person received Bitcoin from you. Because when the seller wants to accept payments via Bitcoin, he definitely knows about Bitcoin and has a wallet to accept it. And what can be concluded from your story is that you shouldn't be surprised when people in remote locations or far from cities know about Bitcoin.

Because as long as the internet signal is good, everyone can learn many things, including learning about Bitcoin. So you don't need to be surprised by that because Bitcoin can be known by many people regardless of place or location as long as the place has a good internet network.

As long as i am concerned i believe that bitcoin cab handle alot of mishandled economical challenges in any financial settings and make a restoration back to normalcy, bitcoin can make one turn a richer fellow, likewise bitcoin can make a richer fellow turn broke if he lacks the guides to how he can secure his wallet or assets from hackers and scammers, but to say the truth here bitcoin has many advantages and opportunities that are life transforming in general when we adopt using it in our financial economy and work in strick protocols.

It is a very good option for you to use bitcoin as a means of payment to buy works of art, but if the network is fine maybe you will use a bank or cash because the problem that occurs is that the network at the bank is still unstable, maybe that's my story understandable since I'm not in that area.

In fact, there is a lot that can be done with bitcoin, maybe P2P or the type of payment that is legal in some countries, I have only ever sent bitcoin to a friend by buying goods and this is according to what has been agreed upon by both of them, therefore the use and function of bitcoin is still sufficient Lots.

I don't know where is your exact place is but one thing I assure that you did a good job. asking the seller if it's okay to use your bitcoin to pay of the piece of art you like the most. Because the reason of, you can not use a bank to bank transfer it because of some issues about transferring maybe because of traffic cause we all know there are a lot of transaction if we say bank to bank transfer. And also you don't have a cash to pay with. So the last option is your bitcoin   and that's good to her that you have a good internet connection to transfer your btc to the seller.

The funny part is you could be the first person to pay the art guy in Bitcoin, I have someone older than me that makes a lot from Art, he was blessed with the knowledge of Art and known how to draw things since a young age, today he also accepts Bitcoin as means of payment, when I asked him that since when has be been accepting Bitcoin as payment? He said not too long ago and no one has paid him in Bitcoin yet but he got to be prepared, just in case, because he is also from Nigeria as OP.

Banking apps -- most of them have been down since the cashless policy started -- I believe the banks are not being able to cover the width of the daily transactions. The preferred mobile apps recommended for fast transactions are Opay, Kuda, Palm Pay, and Chipper Cash. They have been the helping hand of most Nigerians in surviving this cashless policy and its fast transaction receiving. 

Sometimes, phone and internet networks will be available and those bank apps and ussd codes will not work because the bank networks get issues that's why with mobile networks, there is no guarantee to have a complete cash transaction.


The new Naira note policy has made Naira scarce for Nigeria, therefore if our fellow Nigerians will be accepting Bitcoin Transactions, it will be a very good development and will increase Bitcoin Adoption.

Nice story.

Both of you helped each other and the guy would be optimistic with the transaction that just happened because there's someone that has paid for his thing with bitcoin.

And he'll think that you'll refer some other customers from your friends that will also do the same or anyone that would like to buy a thing or two from him just like what you did.

In a more simpler expression you can send Bitcoin to someone without the interference of the government, institutions or any organization.

Bitcoin has lots of utilities to different people, some see bitcoin as where then can invest their money in and get good returns on investment at the end of the day while other make use of Bitcoin as they would any other traditional currencies.

Really i have come across people who purchase different varieties of items or make a payment of items with Bitcoin, but it depends on the individual choice of receiving payment for it's business, some people do accept Bitcoin as choice of payment even when theirs availability of physical cash to make a payment. Before now someone have purchased a pizza with Bitcoin because the one selling pizza accepted a payment option of Bitcoin.

I think OP means there was a server issue with mobile banking on his phone, but he called it a network issue. But if he had an actual network issue it always popped up the question of how he was able to pay with bitcoin.

Yes, many Nigerians are involved in bitcoin, which is good, we may see some threads, but I think the number of people involved with bitcoin is more than what we see here in this forum. So it is not surprising to see if anyone accepts bitcoin.

OP didn't mention he leaved the country, maybe he was volunteering in a rural area, so it is possible he had no cash on him.

That bank ban is so much relaxed now that we've almost forgotten there was a time it happened. Even the P2P engagements all go through the banks because payments are made in fiat. All we do is skip the narration part. Putting crypto related tag in that column for narration was what implicated so many crypto traders' bank accounts when that ban happened as they got frozen. Again, concerning what OP mentioned about the ease of transacting in Bitcoin as against fiat; that's absolutely true. I've weighed all the fiat and Bitcoin transactions I've done and discovered that Bitcoin transactions were less stressful for me. Things like that will continue to make Bitcoin more relevant and in demand.

In this modern era, there are many things that bitcoin can do, one of which is as you said, when we cannot make payments using fiat currency, we can still make these payments using bitcoin, especially now that bitcoin has been widely adopted by merchants and made bitcoin as an alternative payment method.
The presence of bitcoin so far has provided many benefits to society and has made it easier for people when they want to transact because it has proven to be effective and efficient wherever they are.

Of course bitcoin is an alternative that you can use to pay someone across countries or with other merchants in the same country. It's just that bitcoin regulation in every country hasn't been favourable enough, meaning you won't always get permission to pay someone in bitcoin in a country where bitcoin isn't legal as currency.

Bitcoin is the best alternative with no amount limit when you want to send it in the maximum amount, and also you don't have to wait for 3 working days as banks usually do when you transfer it to different countries. The most important thing is, owning bitcoin, not just telling actual use cases.

That's what makes many people use Bitcoin or crypto in moving their money. No taxes, no late, better security. In addition, Bitcoin became a crypto that made the creation of many coins and tokens. Nowadays many countries are starting to feel the need to make digital money and they have created CBDCs.

As long as it is specific to me, bitcoin has helped me earn extra money. I can supplement my savings in the form of BTC which I hope will increase in value in the future. My country has also started taking crypto taxes, they have also cooperated with local exchanges. So Bitcoin and crypto have also given money in for my country.