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1  Economy / Economics / Re: Usability of cryptocurrency in Africa on: September 07, 2022, 02:36:03 PM
I'm not sure what you mean by saying Africa, as far as I know, there are more than 30 countries there, and they may have different situations with cryptocurrencies in one country you can see they legalize cryptocurrencies and accept cryptocurrency payments while in other African countries you can see the government won't allow the cryptocurrency-related transactions as an example I think in Nigeria the government started to take hard of cryptocurrencies and bitcoin while there are many bitcoiners and cryptocurrency investors there.
I'm aware there are more than fifty countries in Africa and I'm also aware that most African countries have no policy in place when it comes to crypto. A few African countries like South Africa, Tunisia, Nigeria, Sierra Leone, Senegal, and Kenya have some policies in place. So when I say Africa, I mean the majority of African countries
2  Other / Politics & Society / Re: Our children should be our first priority on: September 07, 2022, 01:59:13 PM
Parenting is the hardest job that require full involvement of both the father and the mother. Most parents these days want their children to have all the things they don't have when they were younger, this makes them work more and have less time for parenting. The worst thing you can do for your children is just ignore them and allow nature to take its course. Plan on training them but never get around to it. Children need the constant sunshine of their parents’ smile and approval. They need to be pointed in the right direction day after day.
3  Economy / Economics / Re: Usability of cryptocurrency in Africa on: September 07, 2022, 01:08:45 PM
Cryptocurrency has impacted the African economy in a lot of positive ways such as:

* Growth of business for entrepreneurs as it is easy to transact with American, European, and Asia countries with a low transaction fee
* It has helped in creating employment through mining, blockchain development.
* Cryptocurrency has helped mitigate the effect of scarcity of banking structure. Cryptocurrency transactions can be done anywhere as long as there is an internet connection. Some see cryptocurrencies as vital protection from government repression.
Cryptocurrencies do not benefit the economy of a country. It has the potential to profit citizens, but not nearly enough to impact the overall economy of a particular country, at least not yet.

• Bitcoin does provide means of conducting international transactions easier and faster; with no border restrictions.
• Mining does not really create employment as it's a venture which requires huge capital, and not an industry that employs labour. Blockchain development is not solely built for cryptocurrencies.
• The last point is a valid one and a big quality that attracts people to Bitcoin, this however does not impact a nation's economy.
If crypto has the potential to profit citizens, don't you think this will boost consumer spending which is primary driver of GDP of any nation? It will also boost the business spending which will enable local businesses to expand
Retail transactions (<US$10,000) account for almost 30% of Africa’s crypto trade volume This indicates high use in everyday transactions
4  Economy / Economics / Usability of cryptocurrency in Africa on: September 06, 2022, 02:03:43 PM
Cryptocurrency usage in Africa is on the increase daily as more and more Africans are realizing the value and benefits of cryptocurrency and due to the need of a fast, reliable, accessible and serviceable
means of money transfer and high inflation of fiat currency.

Cryptocurrency adoption in Africa as a continent is very promising because most African countries share a lot of similarities like capital control issues and scarcity of banking infrastructure. https://guardian.ng/technology/tech/evolution-of-cryptocurrency-in-africa/
Cryptocurrency has impacted the African economy in a lot of positive ways such as:

* Growth of business for entrepreneurs as it is easy to transact with American, European, and Asia countries with a low transaction fee
* It has helped in creating employment through mining, blockchain development.
* Cryptocurrency has helped mitigate the effect of scarcity of banking structure. Cryptocurrency transactions can be done anywhere as long as there is an internet connection. Some see cryptocurrencies as vital protection from government repression.

However, the usability of cryptocurrency in Africa is facing a lot of challenges due to government policies because they can't regulate it. In February 2021, the Nigerian government place a ban on cryptocurrency transactions through licensed banks. In July, it launched a scheme for a new government-controlled digital currency – hoping to rival the already established cryptos. Countries like Ghana and South Africa are coming up with policies to regulate cryptocurrency. All these policies stem from the criticism mostly by government  and  authorities as a means of laundering money and financial crime and also ‬for its instability.

Another issue is the volatility of crypto, cryptocurrency is subject to unpredictable changes in the market, For businesses, a 3 percent drop in bitcoin’s value can be big enough to generate a massive loss, and that’s a risk business owners are not willing to take. https://cioafrica.co/the-truth-about-crypto-usability-in-nigeria/
5  Economy / Economics / Re: Will crypto jobs make government jobs irrelevant in the near future? on: September 05, 2022, 10:16:27 PM
I don't think crypto jobs can make government jobs irrelevant because the institution called government is well structured and it serves a lot of purposes that our livelihood and security depend on. As long as there is government, government jobs will always be relevant
6  Economy / Economics / Re: Nigeria to establish an economic zone which is crypto friendly with Binance on: September 05, 2022, 09:54:45 PM
I think this is the first virtual free zone in west Africa. This is a brilliant stride from the government in trying to diversify the economy and make crypto a big part of Nigeria's future. I hope it is well managed and not used by the government as another tool to control the finance of the Nigerian youths
7  Economy / Economics / Re: U prepared for great depresion or u want to be surprised? on: July 25, 2022, 09:03:35 PM
I don't think anybody can be fully prepared for the recession or great depression that is looking more and more like it will hit soon. You can only work with what you have and hope for the best. To be prepared at all you'll need money which a large percentage of people don't have
8  Bitcoin / Bitcoin Discussion / Re: Man lost everything to Crypto on: July 14, 2022, 12:45:09 PM
Similar thing happened to a friend of mine sometime last year. He was introduced to cryptocurrency as an avenue to get rich quickly, I tried to advise him to take precautions and do proper research before buying altcoin but he was sure he will make x10 his money in 3 months. He lost everything.
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