It depends on the business you are referring to, is it online or offline? If it's offline, then there will be a lot of competitors, as many fiats transactions are even free when you use some payment channels.

But for online payments, the time of making the transaction should be considered in the case of Bitcoin, the gas fee at the mempool matters to what would be charged and might be a discouragement for customers.

The fluctuation of the price is another thing to consider for the merchant holding it. This is why some might only accept it when it is appreciating.

The Bitcoin market has been capped at $22,000 for the past several weeks, is this cap a sign of an upside for the Bitcoin market. I totally agree with you because the environment is pretty quiet before the storm starts. The Bitcoin market will start storming because of this or maybe there has been a stable market condition in the Bitcoin market for several weeks. However, many believe that the March Bitcoin market may be between $25,000 and $30,000. Others predict the opposite and their prediction is that Bitcoin may fall below $20,000 in March. But no matter what the Bitcoin market is, Bitcoin means Bitcoin, that is, 1 Bitcoin = 1 Bitcoin.

If people only know how great it is to spend your time doing want really benefits you instead of benefiting others even though it's not right for you, they will do less work and focus to chase that free time that they really wanted. Happiness is our goal and it's not always with money and time just walking around and experiencing some new adventure is what we are looking for. Also, I have experienced these kinds of scenarios once in my life when I don't have any money with me. I am really thankful that I found this community that thought me to be financially free and to live my life without any boss to tell me when to wake up in the morning and that alone is a big thing to thank God for.

Well, I have to clarify that personally I have never had any loan or debt in my life so this thread has nothing to do with my experience but intends to find out how people in loan/debt deal with the problem. Let's say you take loans from a bank and sometimes for whatever reason, you can not pay the debt on time, then you borrow money from other channels. Sure this works for a certain period but later bad things may happen, you have to postpone the payment and struggle with finances again. Isn't this a vicious circle ? How would you deal with the problem ? I am all ears.

Just a question, does holding Bitcoin give them access to good food?  I wonder how can holding Bitcoin help these people in accessing good food?  Isn't it more convenient to them if they have cash to pay for their food?  As far as I know, there isn't much retail stores that accept Bitcoin as payment, and there are still many suppliers that are not into Bitcoin.  So I wonder, what change does it gives holding Bitcoin against holding cash in hand?


Isn't fiat donation helping them the same way Bitcoin donation helping them?

The only thing I see holding Bitcoin become advantage is that it can increase in price in the long run, meaning if you are holding $100 worth of BTC today, there is a possibility that in then next years you will be holding more than $100 but there is also a possibility that you can hold less if the price of Bitcoin crash.

In time of crisis and people have no way to earn money, I do not think people will hold on their Bitcoin when they don't have money to spend for their needs, they will eventually cash out to pay for rents and bills.  I am not negative about holding Bitcoin but I am just saying the obvious when crisis arises, unless you have lots of money that you do not need to touch your cryptocurrency holdings.

Supreme court don give their verdict, but since that day we never hear anything official from the CBN nor the presidency, even if Supreme court talk say make the old 200, 500 and 1000 naira notes become legal tender again until Dec 31, we still need the CBN to release the old notes wey them been collect, because as e be so there is little or no old notes in circulation. Naija they carry person play.

Do you think social media is now becoming more a place for business than socializing, Could it be as a result of digitalization and things moving online or more people now starting business online because of need to somehow generate income or another source of income for self to survive the economic situations which is becoming tougher?

"Are people really having the wrong concept of savings?" This topic and question was triggered earlier this morning after writing on two separate threads where it seems people are already misunderstanding the concept of saving
saving according to Google search from Banco Central de la República Argentina |
"Saving is the portion of income not spent on current expenditures. In other words, it is the money set aside for future use and not spent immediately."
The word "use"(spend) is the key word of concentration because it seems people talk so much of savings as if one isn't supposed to use their saving even until death and I began to wonder what the purpose of saving really is.
We ought to save money so money can save us and some also say that we ought to save for raining days and we should know that our raining days might differ and one should be free to use their savings and not feel they're doing something wrong when using their hard earned savings.
 What's your concept of savings?

Judging from the long period of time BTC has not accumulate any impression, I doubt if people are still investing because of many policies formulating against cryptosystem no industries and firm wants to risk their capital again. Would the system remains this way?

Normally I understand this wasn't the first time BTC has experience this down slide but then it was normally market situations but now many billionares has withdrew interest in this project, then what is the hope of this project? Do you think BTC will experience better and high price?

We all agree we're living in a crazy world and what's far worse is that it is managed by a bunch of clowns..
So, let's think wildly, one day US were to further increase the censorship just like some of the other countries in the world, they ban bitcoin, they ban VPN, they pass legislation for those who mine/trade/spend btc will be sent to jail.
(Let's not say it's not going to happen. It can! You never know just like you would never have known that there's a war in 2022.)

Other countries start to follow.

Where will you be and what kind of life will it be and how is it going to impact yours?

I believe the main reason why the CBN went back on its policy to re-use the old notes is more than the reason we know. Perhaps, would have this development been made if it was a different candidate from the current winner of the just concluded election, who won?
Will POS charges reduce now that the old notes have been called back?
These are questions we need to find out, because we are going to be on a really long thing if charges remain same, no new notes in circulation.
Am ready to start using the old notes I left and am hoping others have started accepting it.

On top of that, finding the ideal house as a renter is almost impossible; there's a lack of housing, and rents are extremely expensive and unreasonable at the same time. We had a difficult time finding a house recently, and it's far from ideal. There is now a new government-funded loan program that is about to start, funding up to 75% of the loan interest-free while the rest is funded by private banks and is subject to a relatively low interest rate. This led me to think about taking a loan and purchasing an average two-bedroom apartment, but I have the concerns that I voiced earlier.

I was reading about the Luke Dashjr BTC hack and it got me thinking if people have multiple crypto wallets and addresses.

I think having a cold wallet that isn't connected to the internet plus numerous online wallets is a precaution everyone should take.

The benefits being;

- If you are hacked you won't lose all your crypto assets

- If you forget one private key you won't lose all your crypto assets

- Smaller transactions (since your crypto will be dispersed across many wallets) will not draw as much attention thus increasing privacy.

I will be taking these steps in the next few days to give myself peace of mind.

I'm curious if others think I'm being too paranoid or have carried out some of these practices.

My way to class this morning with some of my lovely course mate, someone raise this question that if our government decide to adopt BTC or make BTC legal how will i feel? I told him that the day our government will announce that BTC is now fully legalized in the country, I will throw a big party to host all the bitcoiners in my environment to join me to celebrate. If your government decide to adopt BTC or make BTC legal in your country, how will you feel?  Will you be among the people that will be angry because i know there are some people in our various places that think BTC is a scam digital currency which is not true, will you go to make them to understand it better in a positive way?

I think "means to produce" might be a better term here.

A good economy and the emergence of a strong political power normally stem from being able to produce something. It is normally either food, good transport links or exports.

On the opposite it is not that way rather the other way round at least in this modern situation. Political power is now showing to be more powerful than economic power. Political power covers also decision making. So whoever has political power can take a decision against he who has economic power which is the money. In the real sense to have economic power, you have to involve in some kind of business or investment but that investment area can be rendered useless, unimportant or just very little profit that will be frustrating to the business owners by the decision made politically by those in power or parliament. It is a simple analysis that can be made broad and reference to our daily economic life in different countries. If there are no good economic policies for investment and businesses to grow then they will remain stunted.

This is still the problem of many countries who dream for advancement of technology the scope of their internet as well their people understanding about it. Old generations were not able to access internet yet due to their location as well they don’t want to adopt in change which requires governments to still do common setups as well using fiat as mode of payment despite the advantage and ease the internet and crypto can do. Implementation will be hard unless people are open to accept change.

Investment in Bitcoin is not a do or die thing. You shouldn't use all money at hand in investment but rather extra cash that has little or no use to you. No one said that you must invest in Bitcoin. You should consider yourself first so you won't go broke

.
On the other hand, it's a good start but it won't be nice if you loss your investment to a scam after all the savings so be careful. You should have spent the money on what your father gave it to you for. all that is actually not necessary.

One of my friend told me that he has heard about bitcoin as it is being advertised in that tournament and he asked me if he should buy Bitcoin as it was advertised in PSL ?

In my country presently, we know how important cash has become, the government decide to renew our Fiat currency and it's not in circulation yet, for some reasons, some people believe that it was intentional because they don't want some bad actors to use Fiat to rig the ongoing election in the country.

But since all this mess have started, many people are suffering, and I as a person have no hold the new fiat Note because I can't get a hold of one yet, and just because many stores prefer Cash than digital transfer, this have make me see how important Fiat currency can be.

Some people will say that Fiat is trash and they keep all their money in stable coins, the truth of this is you are doing things wrong, the stable coins in crypto space are backed by nothing, they can vanish into thin air if the government doesn't want stable coins to exists.

I believe that all stable coins are easier to trample on by the government, more than other crypto projects in this space, Fiat has it's usefulness, let's stop deceiving ourselves, the first time I ever purchased Bitcoin I use Fiat and I believe this is the same as everybody on here, unless you mine your own Bitcoin or get paid in Bitcoin working online.

Do not trash Fiat yourself when it's actually needy, crypto and Fiat must co-exists until the government decide to go digital with Fiat themselves, and Fiat is not trash.