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Author Topic: Bitcoin is Good but it cannot replace our Naira  (Read 255 times)
rachael9385
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August 11, 2023, 05:57:42 AM
 #21

The more important things be say our governments never fit accept am, nah only us way see the light inside am nai dey fit know how we dey take make good use of am, but e go get how this economy go bad reach even if you get 1btc self the price of things for our country go make am be like say e no worth anything because of the bad economy, I know no wether you dey get my point! And again BTC no go fit replace naira anyday no matter how the economy go bad it can be possible because the government have to accept it First before it can try to be replaced but it can't be possible at all, Bitcoin get en own purpose and naira self get en own purpose.

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Bebe22
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August 11, 2023, 01:07:09 PM
 #22

Even if the government agrees and decided that BTC becomes our new money... Alot of citizens would still be against it.
Many Nigerians find paper money easy to acquire and keep than BTC. There's the risk of keeping it safe  and securing it In wallets and many other factors hindering the replacement apart from the government. So let's face it, Bitcoin can't replace naira ( maybe not now, not sure of what the future bestows though). Although, instead of going far to replacing daily purchases, Bitcoin should be seen as an asset and an alternative currency as that is what it actually is.
Makus
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August 12, 2023, 07:47:50 AM
 #23

Make we take for instance before and after we get this new naira circulation issue for the country many traders especially for market say dem nor dey accept bank transfer because of scam wet people dey do with am, and no be every body get bank account, so make we relate this one to Bitcoin for we country, e go hard well well for Bitcoin because scam sef don dey for Bitcoin transfer wey go actually reflect for your wallet.
So my point na be say comparing the time it take for one transaction to be validated which is an average of ten minute, e nor go easy for market, Bitcoin cannot fully replace naira note
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August 12, 2023, 08:02:52 AM
 #24

Well, matter like this na wetin I don reason tey tey, I believe na something wey most of us here don join discuss about fort the main bitcoin discussion board, bitcoin na good alternative currency we fit stand by the side for whenever any body need am, but say e replace fiat completely for our society, that one no fit work for the now, not even in the next 30 years to 50 years..

And one way we go take believe this be say, though things expensive Nigeria now, but e get things wey still cheap pass the worth of 1 satoshi, if I decide to buy something of 100 naira for instance, I won con pay with Bitcoin, e no make sense at all say I send 10 naira worth of bitcoin, come spend like 2000 naira, or even more on transaction fees for the transaction confirmation on the blockchain, e no make sense at all, this na one of the reasons why me know say bitcoin no fit replace fiat completely, e go fit just act as alternative for when person won big buy something wey worth 10s of millions of naira, for that kind business, person fit pay with Bitcoin to avoid bank charges and bank account limitations.

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