Bitcoin hitting it's target

[maydna]

You are lucky to be able to use bitcoin as an alternative payment at the hospital to pay off the payment immediately. In this case, bitcoin has helped you overcome financial problems that cannot be solved by fiat currency due to the limited circulation of local currency.

Your government should consider this and implement alternative payment options other than using local currency or cash payments. If bitcoin can be used as an alternative option to pay for every business, it can help your country's economy. Still, it depends on your government's attitude toward the presence of bitcoin.

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[ilovealtcoins]

To cut long story short letter That's day I paid 0.046591 BTC.

You could have easily used your debit card to pay the bills. You actually paid more(0.046591 = $1094.98 at today’s price), the exchange rate in Nigeria is 750/$ meaning you paid N821,235 instead of N500,000. It’s a bad transaction in my opinion, you lost over 200k in this single transaction. I doubt the legitimacy of this story because either parties should have been aware of this error when calculating the amount. OP is known for his tall tales and evading ban.

500,000 is for hospital bill and the rest for for some other stuffs like drugs and foods.
If you ready carefully you will see bills and not bill.
Thank you

If you can attach the receipt as proof, that is even better because I don't believe your story either, stories like this are for the purpose of seeking merit, not for sharing about experiences with bitcoin. I also agree with SatoPrincess, you can use debit card or other payment methods without the help of bitcoins.

I don’t want anyone doxxing themselves on the internet over a petty argument. Whatever his intentions were, it doesn’t matter. OP is a ban evader and would soon be banned anyways. In my experience as a business accepting bitcoin payment in Nigeria is that people don’t want to spend their bitcoins on commodities or services, they prefer to hodl it as an investment or store value against the naira inflation.

Apart from fighting inflation, people won't be willing to spend their bitcoin because they know its returns will be huge in the future. That's why I believe bitcoin is hard to become a payment method even if it is widely accepted. While bitcoin's original goal was created as a peer-to-peer payment method, but today because of its value, people just want to see it as an investment.

[uche6215]

To cut long story short letter That's day I paid 0.046591 BTC.

You could have easily used your debit card to pay the bills. You actually paid more(0.046591 = $1094.98 at today’s price), the exchange rate in Nigeria is 750/$ meaning you paid N821,235 instead of N500,000. It’s a bad transaction in my opinion, you lost over 200k in this single transaction. I doubt the legitimacy of this story because either parties should have been aware of this error when calculating the amount. OP is known for his tall tales and evading ban.

500,000 is for hospital bill and the rest for for some other stuffs like drugs and foods.
If you ready carefully you will see bills and not bill.
Thank you

If you can attach the receipt as proof, that is even better because I don't believe your story either, stories like this are for the purpose of seeking merit, not for sharing about experiences with bitcoin. I also agree with SatoPrincess, you can use debit card or other payment methods without the help of bitcoins.

I don’t want anyone doxxing themselves on the internet over a petty argument. Whatever his intentions were, it doesn’t matter. OP is a ban evader and would soon be banned anyways. In my experience as a business accepting bitcoin payment in Nigeria is that people don’t want to spend their bitcoins on commodities or services, they prefer to hodl it as an investment or store value against the naira inflation.

Apart from fighting inflation, people won't be willing to spend their bitcoin because they know its returns will be huge in the future. That's why I believe bitcoin is hard to become a payment method even if it is widely accepted. While bitcoin's original goal was created as a peer-to-peer payment method, but today because of its value, people just want to see it as an investment.

The major thing is that most people use Bitcoin as an investment while some can also use it a payment methods too.
Most betting sites also uses Bitcoin as payment methods.

So thing here is that not everyone will use Bitcoin for payment.

[_BlackStar]

The major thing is that most people use Bitcoin as an investment while some can also use it a payment methods too.
Most betting sites also uses Bitcoin as payment methods.

So thing here is that not everyone will use Bitcoin for payment.

Not all users use bitcoin as means of payment, of course that can be justified.
You are never forced to use bitcoin as a payment method, it must be of your own free will. But anyone can use bitcoin as means of payment even though regulation basically could prevent more cases of its use as legal currency.

About your experience using bitcoin as means of payment, it's clearly good because on the one hand you have really proven that bitcoin has real use cases that are accepted in various circles. But was your experience great? Of course not because several other users have also bought cars with bitcoin, houses or so on.

[adzino]

Just curious, you said you couldn't withdraw fiat cash, but then why not pay with your card or make a bank transfer? Anyway, at least bitcoin saved you and they were kind enough to accept bitcoin as a form of payment.

But now lets say you need to make another huge payment. How would you do it? Since you can't buy bitcoin with fiat money (because like you said, the government won't let you withdraw fiat currencies), aren't you stuck here?

And by hitting target, if you mean it is close to become the "regular" currency that everyone is going to use, then no. It is no where near close, but it is moving towards the target.

[The Cryptovator]

It's good to see you were able to pay your hospital bills informally using Bitcoin. I say "informally" because you would need to find an alternative if the doctor refused to take Bitcoin payment. It is disappointing that you cannot always pay with Bitcoin whenever you want. because takers are not obligated to accept it and it is not an official form of payment. You followed our long-standing practice, as we have done. Where required, pay those who accept Bitcoin. Without a doubt, Bitcoin has achieved its goals.

[wiss19]

There is a scarcity of physical money but not in digital form? But all digital money should also match to the supply of physical money right? For it to call it real; anyway, I am glad that Bitcoin help you with your problem and I hope your brother is doing fine now.

This is one of the things that I am also worrying about and that is if one of my family members are going to suffer from an illness because I don't have any savings right now to pay for their hospital bills in case they will get hospitalize. For now, many businesses don't officially accept BTC as a payment method but we can always ask their in charge if it's okay to pay using a BTC for some reasons. I've seen a lot of successful stories about it.

[Ziskinberg]

You got to be lucky as well OP that it was accepted in your place because even still a lot of companies are not yet offering this kind of service.

This is what we called adoption and many countries are giving their support for this technology bringing the chance and comfort for those who are in crypto. 
I see that there is always room for crypto adoption improvement and we are getting to it becoming fully adopted to digitalization making Bitcoin an alternative to fiat money.

[Pokapoka124]

Today I was so glad because I was stressed free all because of Bitcoin.
To cut long story short, I went to pay the hospital bills of my younger brother who has been in the hospital for about 1 week now and I have to pay the sum of 500.000.00 naira based on no cash in my country ( Nigeria ) you will have money in your bank account but you can't withdraw from any Fiat bank. So there's scarcity of money in the country for now. So based on that I asked the  doctor if I can pay the hospital bills with Bitcoin and he said yes. So I was surprised based on my first experience paying bills with Bitcoin. To cut long story short letter That's day I paid 0.046591 BTC

Wow, half a million is a huge amount. You’re lucky the hospital accepts bitcoin, the past week has been hard in Nigeria, we are facing scarcity of cash and failure of the banks to manage the situation. I hope we can gain something from this negative experience and see that bitcoin is a more easier payment option in these times.

So please you guy should try and stork Bitcoin because very soon it will be used as form of payment in all businesses.

Nigeria is on top of the rankings when it comes to amount of bitcoin transactions but I doubt we are going to see that kind of adoption across small and medium scale businesses unless the government makes bitcoin a legal tender.

[Fivestar4everMVP]

The limited fiat cash supply in Nigeria have indeed caused many to begin to look for alternative means of making payments for their day to day purchases, the Central bank of Nigeria has long been pushing for a cashless society but it seems the people of Nigeria have gotten so used to spending physical cash that the idea of a cashless society meant nothing to them.

The current happening in Nigeria is actually a good things since through it, many have discovered that that can actually spend bitcoin for payment for goods and services just same way we spend our cash, after all, this is why bitcoin exist in the first place.