Can Bitcoin Replace Land and Gold as Store of Wealth in Nigeria?

[Somto9Light]

I no sure if bitcoin fit replace land but I think bitcoin fit replace gold because ever since the adoption of bitcoin people no too dey value gold again. The reason why bitcoin no fit replace land is because land is a physical asset why bitcoin na digital asset you fit just wake up one morning just to discover say all your holdings don vanish and no how you go fit trace am. Though this similar thing dey happen for land sha person fit dey drag land with you but once you get evidence or prove to show say the land belongs to you, you will surely get it back. So if you check this two things you go see say difference dey the two and the risk they different na waiting make some people prefer to invest into real estate than to invest into bitcoin.

[Orpichukwu]

I no sure if bitcoin fit replace land but I think bitcoin fit replace gold because ever since the adoption of bitcoin people no too dey value gold again. The reason why bitcoin no fit replace land is because land is a physical asset why bitcoin na digital asset you fit just wake up one morning just to discover say all your holdings don vanish and no how you go fit trace am. Though this similar thing dey happen for land sha person fit dey drag land with you but once you get evidence or prove to show say the land belongs to you, you will surely get it back. So if you check this two things you go see say difference dey the two and the risk they different na waiting make some people prefer to invest into real estate than to invest into bitcoin.

Bitcoin no they use magic disappear from person wallet nah if the person no keep in private key well nai who they in need of the bitcoin go help keep am well for am, nah the same thing they also happen with land acquisition if you no drop eye well for ground buy land well from direct source nah so even with the document way you get for hand you go still lose the land to the real owner eh they happen like that all investment possess a threat nah who be the investors know the one way they am good and the one way eh fit manage well no be by disappear and no disappear, all of us just get Watin we prefer over the other.

[Grace333]

I no sure if bitcoin fit replace land but I think bitcoin fit replace gold because ever since the adoption of bitcoin people no too dey value gold again. The reason why bitcoin no fit replace land is because land is a physical asset why bitcoin na digital asset you fit just wake up one morning just to discover say all your holdings don vanish and no how you go fit trace am. Though this similar thing dey happen for land sha person fit dey drag land with you but once you get evidence or prove to show say the land belongs to you, you will surely get it back. So if you check this two things you go see say difference dey the two and the risk they different na waiting make some people prefer to invest into real estate than to invest into bitcoin.

I don’t think Bitcoin can replace land, especially for this our Nigeria…. Land get e own unique value, it is tangible, you fit see am, touch am, and even build something on top..  Bitcoin na just data, pure digital asset wey no get physical presence..  You fit lose access if your wallet dey compromised or you misplace your keys, and that one alone don make am risky pass land..  For Nigerians, land still dey symbolize stability, legacy, and generational wealth, something you fit pass down and still hold value even if economy shake..

But Bitcoin no still small.. e done already stand, and e fit stand as a solid digital store of wealth on its own..  E no need to replace gold or land before e get value, e go just dey operate in its own lane entirely..  Land go still be land, Bitcoin go still be Bitcoin, both important, just different weapons for different kinds of investors..

[EG_O]

This topic is really logical, because acquiring land in Nigeria now is very costly, even to buy a plot of land in some villages re mostly costly and also the price of land do appreciates like that of BTC, and coming to Gold, it's a mineral resources that one can use and produce so many things that are also expensive. So I think that BTC can be said to be a Gold via digital world, majority of our parents and even young folks don't even know how to operate an android phone talk more of having the knowledge of BTC

[Tungbulu]

Bitcoin no they use magic disappear from person wallet nah if the person no keep in private key well nai who they in need of the bitcoin go help keep am well for am, nah the same thing they also happen with land acquisition if you no drop eye well for ground buy land well from direct source nah so even with the document way you get for hand you go still lose the land to the real owner eh they happen like that all investment possess a threat nah who be the investors know the one way they am good and the one way eh fit manage well no be by disappear and no disappear, all of us just get Watin we prefer over the other.

True talk.
E no get any investment wey no get en own risks. The same way wey Bitcoin investment get e own risks, Na so Gold carry him own and Na so Bitcoin carry him own too. Na just left for us to find the one wey align with with our goals, whether Na Bitcoin or land or Gold. You no dey enter investment because say e dey 100% safe, no. The reason we dey enter investment Na because say, the investment aligns with our personal/individual factors and we fit actually manage the risks wey dey involved effectively.

[Orpichukwu]

Bitcoin no they use magic disappear from person wallet nah if the person no keep in private key well nai who they in need of the bitcoin go help keep am well for am, nah the same thing they also happen with land acquisition if you no drop eye well for ground buy land well from direct source nah so even with the document way you get for hand you go still lose the land to the real owner eh they happen like that all investment possess a threat nah who be the investors know the one way they am good and the one way eh fit manage well no be by disappear and no disappear, all of us just get Watin we prefer over the other.

True talk.
E no get any investment wey no get en own risks. The same way wey Bitcoin investment get e own risks, Na so Gold carry him own and Na so Bitcoin carry him own too. Na just left for us to find the one wey align with with our goals, whether Na Bitcoin or land or Gold. You no dey enter investment because say e dey 100% safe, no. The reason we dey enter investment Na because say, the investment aligns with our personal/individual factors and we fit actually manage the risks wey dey involved effectively.

Eh don finish my broda, u see people way they say one thing they risk free and the other one carry heavy risk those people no really know watin dem they talk or they them operate with misconception, if not anything way be say eh fit give you profit u suppose also know say that same thing fit give you lose if eh reach period for such, gold price no they too go up and eh no they also too fall, which still make am risky, land asset same thing bitcoin way be the overall oga for volatility they top league both to give you profit and also to make your money reduce.

[Mr_Brilliant$]

Bitcoin no they use magic disappear from person wallet nah if the person no keep in private key well nai who they in need of the bitcoin go help keep am well for am, nah the same thing they also happen with land acquisition if you no drop eye well for ground buy land well from direct source nah so even with the document way you get for hand you go still lose the land to the real owner eh they happen like that all investment possess a threat nah who be the investors know the one way they am good and the one way eh fit manage well no be by disappear and no disappear, all of us just get Watin we prefer over the other.

True talk.
E no get any investment wey no get en own risks. The same way wey Bitcoin investment get e own risks, Na so Gold carry him own and Na so Bitcoin carry him own too. Na just left for us to find the one wey align with with our goals, whether Na Bitcoin or land or Gold. You no dey enter investment because say e dey 100% safe, no. The reason we dey enter investment Na because say, the investment aligns with our personal/individual factors and we fit actually manage the risks wey dey involved effectively.

Exactly, every investment get e own level of risk, nothing dey totally safe..  The main thing na to understand wetin you dey put your money inside and make sure e align with your goals and risk tolerance..
Once person sabi manage the risks well, e no go too shake no matter how market move…

[Tungbulu]

Exactly, every investment get e own level of risk, nothing dey totally safe..  The main thing na to understand wetin you dey put your money inside and make sure e align with your goals and risk tolerance..
Once person sabi manage the risks well, e no go too shake no matter how market move…

By market movement, I believe say you mean Bitcoin investment. One of the best tips for Bitcoin investing Na to get better understanding of the asset, because that is what gives you the tenacity to invest and keep holding on to the asset regardless of whatever turn the market decides to take. For example, you need to understand first that the asset is a long term asset and only those with long term goals can benefit from it, before you can actually HODL through market fluctuations.

[Iamgoat]

Bitcoin no they use magic disappear from person wallet nah if the person no keep in private key well nai who they in need of the bitcoin go help keep am well for am, nah the same thing they also happen with land acquisition if you no drop eye well for ground buy land well from direct source nah so even with the document way you get for hand you go still lose the land to the real owner eh they happen like that all investment possess a threat nah who be the investors know the one way they am good and the one way eh fit manage well no be by disappear and no disappear, all of us just get Watin we prefer over the other.

Well said. The true of the matter is nothing in this life is 100 percent safe whether it is bitcoin, land or any other business, once you do not secure your things and guard them properly, your properties fit enter wahala for another person hand wey they eye am from you. Like it is said by others here already, bitcoin does not just disappear on its own, on most occasions, it is as a result of our negligence and carelessness that cause us to lose our private keys or get it compromised as well as the lands we buy from agents without proper verification. Some of us do misplace their private keys due to carelessness or keep on clicking on different scam links looking for how to become rich over night or giving our sensitive documents to the wrong people, etc. Investment is not by luck or by magic, it is something you venture into intentionally. when you buy land from people and do not verify it, you will lose it to scammers so it's just like you said, every investor has to know and understand the level of risk involved in the investment as well as how best to manage it.

[Mr_Brilliant$]

Exactly, every investment get e own level of risk, nothing dey totally safe..  The main thing na to understand wetin you dey put your money inside and make sure e align with your goals and risk tolerance..
Once person sabi manage the risks well, e no go too shake no matter how market move…

By market movement, I believe say you mean Bitcoin investment. One of the best tips for Bitcoin investing Na to get better understanding of the asset, because that is what gives you the tenacity to invest and keep holding on to the asset regardless of whatever turn the market decides to take. For example, you need to understand first that the asset is a long term asset and only those with long term goals can benefit from it, before you can actually HODL through market fluctuations.

Understanding dey the foundation of everything..  Once you truly understand wetin Bitcoin stand for and how e dey operate, you go dey calm even when market dey misbehave.. 
Na why most people panic sell, dem never really understand wetin dem hold..  Bitcoin no be something wey you rush enter and expect quick double, e dey reward patience.. So as you talk, the real win dey for those wey get long term mindset and fit hold strong..

[Tungbulu]

Understanding dey the foundation of everything..  Once you truly understand wetin Bitcoin stand for and how e dey operate, you go dey calm even when market dey misbehave..  
Na why most people panic sell, dem never really understand wetin dem hold..  Bitcoin no be something wey you rush enter and expect quick double, e dey reward patience.. So as you talk, the real win dey for those wey get long term mindset and fit hold strong..

True talk!
Ignorance na  wey bad thing, plenty people run enter Bitcoin simply because the thing Dey trend, and them see say plenty dey enter am, without better knowledge or information of wetin them dey do sef, them go just enter and when things start to go the way them no really expect, them go start to shake, some go even blame the person wey introduce them put for the thing.

Of a truth, no be say you go get all the knowledge first before you start, but at least make you sabi the basics first, make you get small understanding first before you enter, at least to prep yourself in case of rainy days. And then as you dey proceed, you go dey learn more, dey update your knowledge and then do some evaluation and modifications for your approach if necessary.

[MainIbem]

It's recently that some youths that's gain knowledge about Bitcoin now see it as a store of value and more preferable to gold and Real Estate in the asset class but lots of the elderly are not very inclined in the knowledge of Bitcoin and grew up seeing Real Estate and Gold as a store of value, most of them don't even have idea of what Bitcoin is all about and would rather stick to what they know, but since more youths are beginning to gain interest on the modern day investment option which is Bitcoin, maybe in the future Bitcoin could generally replace Gold and Land as the best store of value in our country but for now people would still diversify into owning landed properties and buying gold even though they're investing in Bitcoin.

[Bryan jessy]

In as much as Bitcoin is a store of value, that does not mean someone should not purchase a land or own a real estate. It will be unwise to have so much Bitcoin in store without owning a land, do not forget that real estate is also another means of generating income that is for people who are into real estate business, having as much land as possible is also an investment if you are business oriented, and strategic.
It is better to have all rather than focusing on one, you never can tell. Do not pack your eggs in one basket

[mustapha67]

Bitcoin investment is solid money generating forum, so it is to land, or estate. However, it is possible with Bitcoin investment to work for money to purchase land, and build an estate before one begins to generate income through the assets.

Moreover, apart from inheritance, land and estate are secured with money. Therefore, Bitcoin investment stand a better ground to fulfilling people's dreams of generating huge funds for land, estate and other valuables.

Bitcoin investment could be a replacement land, gold and estate for people like us who are left without any inheritance of any sorts. For instance, I have no land to invest in, no estate to put tenants. It is clear, and visible that I am starting my investment with Bitcoin for further generations of assets such as land, estate etc.

[Sammye3]

Both land and gold has significant importance as a store of wealth as Bitcoin too so I don't see Bitcoin replacing any of them as they have their individual relevance. Land as a fixed asset has proven to be a good investment for a long term as it does not depreciate in quality or price over the years. Gold has a strong structure and so serves a means of a good store of wealth because of its value.

So in general, Bitcoin is as important of land and gold as they have individual importance to the individual and economy at large.

[Scarlett_23]

In Nigeria, land, houses and gold have always been considered the measure of wealth. Our parents think that you are rich when you own some plots of land that are in your name or a building. Even those who have gold jewels are seen as sources of savings and this can be shared with your children. These are tangible, esteemed and acceptable assets.

That is swiftly changing however, as Bitcoin is now being regarded as a form of storing value in our generation. It costs less to acquire than buying a piece of land, it does not involve a lot of paperwork and red tape, it is not subject to encumbrances, and it can be transported across different borders without any hassle. As naira continues to lose its value, many youths also regard Bitcoin as a better hedge than even real estate.

Of course, there are also problems with Bitcoin. You can lose a lot of money in a very short period of time due to volatility. And unless you secure your wallet carefully and make arrangements for inheritance, your family may never recover those funds if anything happens to you. With land or gold at least, the family can claim it without needing to know any password.

My question to the house is this:
Do you believe that it is possible that Bitcoin could actually supplant land and gold as the chief store of wealth in Nigeria, or will it remain a modern adjunct to the old ways?
Would you personally prefer to hold most of your savings in BTC, rather than buy land?

Whether Bitcoin will replace land and gold as a store of wealth in Nigeria depends on the rich and the poor, the young and the old. Usually, investing in gold and real estate requires a lot of money. However, investing in Bitcoin through the DCA method does not require that amount of money, meaning that people can invest even with a small amount. On the other hand, the older Nigerians who are there have been buying gold or land for ages, so they are more interested in these things. However, the younger generation who are there and who understand Bitcoin will prefer to deposit their funds in Bitcoin.

[Sonia_123]

Maybe with time as the day goes by bitcoin can do that, but for now, it is only seen and understood by the youths not by our elders, because they only believe in physical assets like gold,land and real estate because if you tell them the importance of bitcoin and how it works and it's future worth and benefit, they will tell you to present it physically for them to see if not you are not making any sense to them, they sees you as not being serious and trying involve yourself in unrealistic source.of income terming it as fake because it is not physical .

Nigerian's real culture and explanation of wealthy is really seen to be with landed or physical assets or nothing more. For our generation now bitcoin is see more valuable than gold ,landed property or any other investment that you can think of  because of its potentials, because it can be used to creat more wealth and investment like the ones you have mentioned above without affecting your hodl in bitcoin.

[Mr_Brilliant$]

Maybe with time as the day goes by bitcoin can do that, but for now, it is only seen and understood by the youths not by our elders, because they only believe in physical assets like gold,land and real estate because if you tell them the importance of bitcoin and how it works and it's future worth and benefit, they will tell you to present it physically for them to see if not you are not making any sense to them, they sees you as not being serious and trying involve yourself in unrealistic source.of income terming it as fake because it is not physical .

Nigerian's real culture and explanation of wealthy is really seen to be with landed or physical assets or nothing more. For our generation now bitcoin is see more valuable than gold ,landed property or any other investment that you can think of  because of its potentials, because it can be used to creat more wealth and investment like the ones you have mentioned above without affecting your hodl in bitcoin.

Na that mindset difference between the older and younger generation na em be the main thing holding Bitcoin back in Nigeria.. Our parents grew up in a time when wealth was only measured by what you could see or touch, land, houses, and gold. But things are changing fast.
Yes Bitcoin might not be physical, but its value and potential are real. The truth is, land and gold will always have their place, but Bitcoin brings something different, it is global, portable, and not limited..  As more people understand it and see its long term benefits, it could definitely stand side by side with, or even surpass, those traditional stores of value..