Will the new minimum wage affect investors behaviour?

[Stepstowealth]

The NLC recently embarked on a Nationwide Strike action that shutdown the whole economy, and forced many sectors to pause their operations. There are many investors in bitcoin who are also civil servants and will be affected by the new minimum wage should the government approve of the demands of the NLC. Do you feel that the new minimum wage when approved will affect the behaviour of Investors in cryptocurrency? do you think that investors in bitcoin through DCA will increase the amount they DCA?

[Mate2237]

This is not the first time Nigeria Labour Congress is embarking on the industrial revolution action and non the years they have embarked in the industrial action have changed anything in the country because the actions were self centered.and not for the public benefit.I don't know if any civil servant in Nigeria is investing in bitcoin and if they are doing it then the increase of the minimum wage will also reshape the investment plan of the worker. Id federal government accept the amount labour is requesting then those who are into investment will use that amount to increase their investment.

But those who are not working and some workers are asking for living wage instead of minimum wage and really when you look at the whole scenario it is better for labour to ask for living wage because it is not everyone is working so if the federal government increases the minimum wage then the prices of goods and services will also increase because sellers of those goods will like to partake in the minimum wage salary and with y now those who are not working would not benefit anything but instead to suffer. Therefore reducing the prices of things and services is the best way to deal with this economy.

[Iamgoat]

The NLC recently embarked on a Nationwide Strike action that shutdown the whole economy, and forced many sectors to pause their operations. There are many investors in bitcoin who are also civil servants and will be affected by the new minimum wage should the government approve of the demands of the NLC. Do you feel that the new minimum wage when approved will affect the behaviour of Investors in cryptocurrency? do you think that investors in bitcoin through DCA will increase the amount they DCA?

Since you've taken the side to look at the civil servants as an audience of investors, it will be correct to assert that the new minimum wage will most likely affect the behavior of investors in the digital currencies. Today is meant to mark as the end of the minimum wage talks between the two parties; namely the NLC and the Federal Government where the NLC/TUC are still proposing 250,000 naira offer to Mr. President But while the NLC makes the proposal of 250,000 naira, the FG and the Organized Private Sector offer to pay 62,000 naira and the state governors offering nothing more than 60,000 naira. Whichever way, the decision that will be taken from today's meeting supposed to mark as the deadline of the NLC to take another supposed 'more heightened' industrial action, thereafter. Why I'm mentioning this is that the final decision and outcome of the two parties will greatly affect the behavior of the civil servants investing in crypto particularly in the DCA approach since majority of them must have been taking from their monthly salaries and allowances to invest in Cryptocurrencies.

[Majestic-milf]

 The answer na no. If you check am,as the wages dey around #30k per worker, we still get investors so if this new one of #60k get approved, the only thing wey go change na if the person wan increase him holdings else, e go remain as e be because now wey things don cost for market, person go wan reason to allocate funds put for feeding and other bills.
 Bitcoin nah investment you suppose enter with amount wey you fit afford to lose and if you dey do DCA, you no need to still pack money put inside, since there is the tendency say price fit no hit the target you set for am, and unto say you dey manage your funds, the best thing nah to put a sizeable amount wey no go too choke.
 The country don get to that point wey e dey necessary to get more than one stream of income and even if you be Bitcoin investor while expecting an increase to the wages, e still good day you get another cash bringing source so that if the government no later gree for this increase, e no go too bother.

[Ishicryptic]

If the federal government yields to the organized labor demand to increase the minimum wage, let us not forget that the increments will be effective to only those that are working in ministries and companies that are associated with the labor congress and the trade union congress, those employers that are not affiliated to labor are not compelled to pay their employees the new rate if implemented.

I doubt that the increments of minimum wage will make any impact in the quality standard of living in this country because the prices of goods and services are increasing exponentially everyday, so the masses are better off collecting regular salaries and have reduced or reasonable prices of items in the market. For workers who are collecting salaries and are doing DCA method to hodl Bitcoin, it will not be easy to conveniently increase their DCA with the high cost of living in the country, naira has greatly devalued and it will be a struggle to add money to savings and investments, including Bitcoin. Increasing salaries in our country where there is inflation is not a solution, the government needs to revive the economy and naira to gain value before salary increments will add value to their workers.