[2017-02-19] Nigeria and Bitcoin

[amagimetals]

This could be a big step for Bitcoin if it actually occurs. Maybe once one country takes the step towards making Bitcoin legal others will as well.  https://themerkle.com/nigerian-bankers-committee-plans-to-legalize-bitcoin/

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[veleten]

as much as one could question the integrity of the nigerian banking system (up to 19% yearly inflation,up from 12%-15% in 2016)
http://www.tradingeconomics.com/nigeria/inflation-cpi
this would be a huge step towards making bitcoin legal in many other countries as well,especially in Africa
it is too early to say,the bankers haven't agreed to it yet
lets wait for ETF approval,shall we

[Slow death]

This could be a big step for Bitcoin if it actually occurs. Maybe once one country takes the step towards making Bitcoin legal others will as well.  https://themerkle.com/nigerian-bankers-committee-plans-to-legalize-bitcoin/

No offense, but Nigerians are very famous on the internet and their fame is not good. Reports of Nigerian scammers runs all over the internet or at least ran, will it be good to associate bitcoin with them?

[aarturka]

There's too many honor for Nigeria to get associated with Bitcoin. They just use it like other bad and good people. I don't think that reputation of Bitcoin will suffer because of it.

[cpfreeplz]

This could be a big step for Bitcoin if it actually occurs. Maybe once one country takes the step towards making Bitcoin legal others will as well.  https://themerkle.com/nigerian-bankers-committee-plans-to-legalize-bitcoin/

No offense, but Nigerians are very famous on the internet and their fame is not good. Reports of Nigerian scammers runs all over the internet or at least ran, will it be good to associate bitcoin with them?

It's not really about their reputation. If they start actually using bitcoins it will bring more capital which means a higher market cap which means a higher price. No matter how you look at it, more people buying bitcoins = price bump. I don't see this being huge though unless the whole country starts exclusively using bitcoins (which won't happen, or if it does it won't be overnight).