Will Bitcoin have a chance in Nigeria if?..

[Majestic-milf]

 I don dey reason dis mata of Bitcoin in Nigeria and the way Govt dey make usage and operation a bit difficult and I come dey wonder weda e fit get a bit of breathing space if some of the big players in the business world pick interest in investing in them.
  Una go agree with me say naija no dey completely against cryptocurrencies, Bitcoin especially but them no also dey friendly but just like the way El Salvador and Central African Republic take bold steps in making am dia legal tender, una feel say government fit relax some regulations on am if big cats for the business world like Aliku Dangote, Tony Elumelu and others decide to add Bitcoin investment to their portfolio?
Although this news nah old one oh but Nairametrics believe say Dangote for be the 6th richest man in the world if say him bin invest 5% of him moni for Bitcoin. And I know say e no too late.
 Another reason wey make me reason this mata say none of us be stranger to how fast the naira dey depreciate sharparly against the dollar and currently, 1dollar to naira for black market nah #1,009 as at time of writing and if we big ogas them fit do something, maybe e fit push the president to rethink him stance on Bitcoin because we need something wey go help our economic situation and so far, Govt seem to be running out of ideas.
 How una see this one? Make we yarn.

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[rachael9385]

We already know the people way dey in power for this we country, so if those people accept Bitcoin nai be say even the government and the CBN Governor no get any choice again to make because all the money way those people them get nah CBN dey hold am, even if say the CBN no go agree as long as say them dey see say this DANGOTE guy dey make watin them no expect, them fit just try am coded and I believe say even now some of this our top top politicians them self dey invest codedly for Bitcoin and if you imagine am one kin, nah them dey even take this investment serious but as them no dey like see Nigerians dey progress nai make them just give people way no no their way in not to invest for Bitcoin.

[Kelward]

If the government wey be di  public sector no encourage di adoption of bitcoin, normally na di top players for di private sector like Dangote, Elumelu, Adenuga, even top entertainers like Don Jazzy, Davido, just to mention a few suppose drive di adoption. But as i de see am, di fear of di government fit be di beginning of wisdom for dem because maybe dem no want di government to de see to dem matter if dem first di government to de use and accept bitcoin to run dem businesses. Aldo i no go de surprised if these billionaires de codedly run bitcoin things, because di decentralized digital currency guarantee privacy where dem fit keep dem money without any centralized authority go de monitor.

If dis top private sector players fit take di bull by di horn and de accept bitcoin for dem businesses, e go really go a long way to promote di usage and investment of bitcon for inside Nigeria. Di move go definitely challenge our government to fully adopt cryptocurrency, and remove di stigma of CBN ban, wey de  discourage most Nigerians about bitcoin. If dis one happen bitcoin go blow for naija.

[Sim_card]

The truth be say nobody know whether these people wey you mention get bitcoin or not, but me I believe say them get bitcoin investment because them be international businessmen and as a businessman with such firm, you go get experts wey dey advise them on how their funds fo fit increase and multiply and how he go take dey save from inflation. They already have bitcoin because they are also part of the world and they have seen how top world businesspeople have invested in bitcoin, don't you think that it will motivate them to also have bitcoin, especially when they know the potential of bitcoin. The reason why them no go fit come out lous say i invest this amount into bitcoin, just like the way Micheal Saylor and Elon dey come on air dey talk be say, they are making their money from politicians and some of them are even politicians in disguise as business people. This go come be like say them dey go against the government and he fit bring problem for their business for the country since most of them na from government na him them use explode.

[Spaceman1000$]

I don dey reason dis mata of Bitcoin in Nigeria and the way Govt dey make usage and operation a bit difficult and I come dey wonder weda e fit get a bit of breathing space if some of the big players in the business world pick interest in investing in them.
  Una go agree with me say naija no dey completely against cryptocurrencies, Bitcoin especially but them no also dey friendly but just like the way El Salvador and Central African Republic take bold steps in making am dia legal tender, una feel say government fit relax some regulations on am if big cats for the business world like Aliku Dangote, Tony Elumelu and others decide to add Bitcoin investment to their portfolio?
Although this news nah old one oh but Nairametrics believe say Dangote for be the 6th richest man in the world if say him bin invest 5% of him moni for Bitcoin. And I know say e no too late.
 Another reason wey make me reason this mata say none of us be stranger to how fast the naira dey depreciate sharparly against the dollar and currently, 1dollar to naira for black market nah #1,009 as at time of writing and if we big ogas them fit do something, maybe e fit push the president to rethink him stance on Bitcoin because we need something wey go help our economic situation and so far, Govt seem to be running out of ideas.
 How una see this one? Make we yarn.

With time, bitcoin go be something way go dey everyone lips for Nigeria especially among the younger generation. Even with the restrictions way government put for cryptocurrency, boys still dey do there thing dey go small smal.

I believe say e get where e go reach, government will be forced to  renounce their stance. Because bitcoin is like the inevitable innovation in this current world mapping. Because people are always moved to adapt with new innovation that will ease there stress. Bitcoin is decentralised and it allows you to keep your financial activities very private, so gradually bitcoin will have a chance in Nigeria as it has already started.

[Cryptomultiplier]

Sincerely, I don't think government is really stopping Bitcoin in Nigeria, because I have seen business adverts on billboards and signposts, all pointing to a individual or group of individuals who are operating a Bitcoin or cryptocurrency business.
I also know there is a clear distinction between accepting BTC as legal tender and simply overlooking its practices by not banning Crypto exchanges and wallets from operations.
In countries where crypto is banned, exchanges or wallets barely work, and if they do, the authorities better not catch you with it on your device, else you be prosecuted.
 
Think about it. Bitcoin does have a chance in Nigeria, but only the right government with its knowledge can successfully implement it.

[Agbe]

Na good thing to tok about, last year someone told me day Dangote dey do bitcoin but na small small im dey do am. But I never verify dat information. After when CBN told the commercial banks to stop making cryptocurrency transactions for like three weeks, the then vice president of the country Professor Osinbajo came on air to say that bitcoin can be used p2p. I can still remember that he said something good about bitcoin but I have forgotten what he really said. And from the source of information I have gathered, the money Dangote is using, a % is own by Nigerian politicians, where they are hiding their wealths. And even those capitalist invest in bitcoin government can still illegal it and this what is displaying in UK and USA though they are using it but it I or yet legalized.  But if they invest in it, it will help in a long way.

[Majestic-milf]

 Wetin make me reason this mata like dis nah say as our economy dey go where e no know, if we Govt give like beta permit e fit attract more local and foreign investors as @amphenomenom point out. Also as I note earlier, e go also help strengthen the naira, becos we fit dey look am, naira fit enta #1500 to a dollar. I for no believe say e go enta #1000 but as the country dey only depend on crude oil for economic growth, I feel say BTC acceptance by the government go go a long way too, that's if them no allow greed cloud judgement.

[EluguHcman]

Bross da ur line "our Govt don run out of idea" na summary bottom line about this mata. But my expantiate small.
1st our govt put on cryptocurrency (BTC) on restrictions bcos na decentralized currency way dem no go fit in control of and dem know how biased dem dey run the economy policies via inflation and deflations aimed to enrich dem selves more & more with the touch of fear make our naira no go dey total valueless as e already dey depreciate on basis so.
The country dey always long on how dem want take penalize the common man and how the common man go work hardly den earn penny (change) bt BTC decentralization statusco purge dem.

See... B4 u pray orask  for 4giveness, den u go don cleanse and make up ur mind 4rm a most sincerity. So wetin the president want make prayer do 4 us way him no fit do am coro-coro?

Talking about Dangote being 6th richest man in the world if him invested 5% of him wealth on BTC, I doubt bcos u failed to consider if me self invested 5% of my wealth as then!
People self way invest such wealth as then no dey da rate yet
Meanwhile... Diz ur big cats no fit agitate 4 the lift of the restriction bcos dem want make us feel like dem no dey into BTC investment sector cus want want dey laws abiding but deep inside na them invest pass for there and our govts dem dey hide there loots there with the goal of making profits so dem just want set people eyes off the balls of BTC abi u neva hear say na over $56.7 billions 9ja don spend on BTC over the years til date?
Who boasten da rate? U tink say na me and u? Of cuz na the so Big Cats.

[CryptopreneurBrainboss]

  Una go agree with me say naija no dey completely against cryptocurrencies, Bitcoin especially but them no also dey friendly but just like the way El Salvador and Central African Republic take bold steps in making am dia legal tender, una feel say government fit relax some regulations on am if big cats for the business world like Aliku Dangote, Tony Elumelu and others decide to add Bitcoin investment to their portfolio?

The thing be say those men dey get free pass for the country as dem no dey like us but dey their own world. I no go surprise if those men get some kind privileges wey we no get and the economy dey favor them like how politicians dey theif money carry invest for dangote business steady and giving the man more finances to adventure into other business because the cash are there to spare. Dem no go gree accept Bitcoin because Bitcoin go expose all the illegal things wey dem dey do as Bitcoin na open source currency and e go hard or cost dem more to hide things from the public eye but with Naira dem fit dey do their illegal things underground without any attack since most government people follow dem dey chop the benefits of this illegal acts. Obviously if dem been dey push the agenda for Bitcoin adoption just like other big companies outside dey do, we for fit get more acceptance from the government but the thing no go favor dem so dem no go push am.

Another reason wey make me reason this mata say none of us be stranger to how fast the naira dey depreciate sharparly against the dollar and currently, 1dollar to naira for black market nah #1,009 as at time of writing and if we big ogas them fit do something, maybe e fit push the president to rethink him stance on Bitcoin because we need something wey go help our economic situation and so far, Govt seem to be running out of ideas.

This naira depreciation fit no dey affect this men like dat because if to say e dey over worry dem, dem for dun dey find solution but this man get business outside Nigeria wey dey give them dollars and most of their business dey more profitable outside than Nigeria. Even dangote dun talk say him go dey sell fuel to outsiders and na there him go dey make him profits pass than Nigeria so everything dey favor dem. If no be wetin wey no dey favor dem, dem for dun suggest better solution since they have more knowledge in those areas of business but dem just mute they enjoy life for the country.

[Majestic-milf]

This naira depreciation fit no dey affect this men like dat because if to say e dey over worry dem, dem for dun dey find solution but this man get business outside Nigeria wey dey give them dollars and most of their business dey more profitable outside than Nigeria. Even dangote dun talk say him go dey sell fuel to outsiders and na there him go dey make him profits pass than Nigeria so everything dey favor dem. If no be wetin wey no dey favor dem, dem for dun suggest better solution since they have more knowledge in those areas of business but dem just mute they enjoy life for the country.

I reason go that area too. E get one kind politics naija dey like play. I remember during the COVID-19 pandemic when e come reach say our top ogas no fit travel outside for treatment, the thing come choke, dem go dey reason to fix the hospitals for the contri so e for fit meet abroad standards but if say such no happen, nothing for come out. And nah the same thing you point out for here. Dangote nah businessman and every businessman go like take advantage of anything wey go bring am profit but this one e never look BTC investment nah unto say the naira no dey affect am that much.
 E dey worry me say something as essential as Bitcoin dey neglected by we government all because e no go give them chance to loot money. Maybe nah to continue to keep the poor  masses in perpetual suffering nai be their plan but I believe say God pass them.

[Richbased]

I don dey reason dis mata of Bitcoin in Nigeria and the way Govt dey make usage and operation a bit difficult and I come dey wonder weda e fit get a bit of breathing space if some of the big players in the business world pick interest in investing in them.
  Una go agree with me say naija no dey completely against cryptocurrencies, Bitcoin especially but them no also dey friendly but just like the way El Salvador and Central African Republic take bold steps in making am dia legal tender, una feel say government fit relax some regulations on am if big cats for the business world like Aliku Dangote, Tony Elumelu and others decide to add Bitcoin investment to their portfolio?
Although this news nah old one oh but Nairametrics believe say Dangote for be the 6th richest man in the world if say him bin invest 5% of him moni for Bitcoin. And I know say e no too late.
 Another reason wey make me reason this mata say none of us be stranger to how fast the naira dey depreciate sharparly against the dollar and currently, 1dollar to naira for black market nah #1,009 as at time of writing and if we big ogas them fit do something, maybe e fit push the president to rethink him stance on Bitcoin because we need something wey go help our economic situation and so far, Govt seem to be running out of ideas.
 How una see this one? Make we yarn.

Before we go talk about bit coin having a chance in Nigeria let us look at the awareness that is being created about this coin. For instance how many people all over the country know about bit coin, have they been informed about the advantages of using bit coin and the disadvantages of using it as well because these are the things that needs to be looked out for before one can make comparison if it should be used on not.

All over the country, a low population of people are aware of this bit coin and just as a saying that "a tree cannot make a forest" we will see that the few people that knows about bit coin cannot take decisions on behalf of the country.

There should be a massive awareness and sensitization that should be created on the use of bit coin so as to convince the larger population to be in unism towards implementing the use of bit coin that's the only step to guarantee a unanimous support from every sector of government and it's citizens.

[Bitcoin-ATH]

I don dey reason dis mata of Bitcoin in Nigeria and the way Govt dey make usage and operation a bit difficult and I come dey wonder weda e fit get a bit of breathing space if some of the big players in the business world pick interest in investing in them.
  Una go agree with me say naija no dey completely against cryptocurrencies, Bitcoin especially but them no also dey friendly but just like the way El Salvador and Central African Republic take bold steps in making am dia legal tender, una feel say government fit relax some regulations on am if big cats for the business world like Aliku Dangote, Tony Elumelu and others decide to add Bitcoin investment to their portfolio?
Although this news nah old one oh but Nairametrics believe say Dangote for be the 6th richest man in the world if say him bin invest 5% of him moni for Bitcoin. And I know say e no too late.
 Another reason wey make me reason this mata say none of us be stranger to how fast the naira dey depreciate sharparly against the dollar and currently, 1dollar to naira for black market nah #1,009 as at time of writing and if we big ogas them fit do something, maybe e fit push the president to rethink him stance on Bitcoin because we need something wey go help our economic situation and so far, Govt seem to be running out of ideas.
 How una see this one? Make we yarn.

The inflation and bad economy way Nigeria they face now dey very bad and heart breaking. If you come to think of it, every sector for Nigeria dey horribly affected and the thing dey get worse each day way pass by. The Nigerian govt de fully aware of how the operation of BTC as legal tender go help improve the economy and every other sectors for the common people, but they no send because, the govt way we get na for so-called famous and prominent politicians and the big cats you just mentioned which are inconsiderate, wicked and always want to be at the top of everyone. Na still the same thing way make we no fit refine crude oil in Nigeria.
The big cats and the politicians are not in any way affected by this economic situation and I dey fully convinced that them dey do BTC investment coded. If they leave narrow mind and thinking and accept BTC operation e go really help everyone. I just pray.

[BIT-BENDER]

As for me I would say yes Bitcoin has a strong chance in Nigeria, I believe Nigeria should be amongst the top Bitcoin and crypto-currency enthusiastic country in Africa and also Nigeria should be up there in the world. We have Nigerians who are recognize and has even been main speakers on the Global stage and example is Gaius (AKA Bitcoin chief).

Yes it's no news that the Nigerian government has chosen to be a menace to crypto-currency enthusiast but so far they have tried but still the resolve of Nigerians is still strong and crypto-currency activities has still been going on. I personally believe its impossible to stop Nigerians from Crypto but it would be wise for the Nigerian government to look beyond their hate and see the opportunity crypto-currency can even offer the country.

[DubemIfedigbo001]

My brother, every prominent businessman and politician knows the potential of bitcoin, don't be surprised that its there that they  politicians hide most of their money. Thereby making it harder to seize and track when they're out of power cos its invisible in the banks. They're not Ignorant to the fact that Bitcoin is the future but I'll tell you something. The reason Bitcoin and crypto in general was banned in Nigeria was because people would be very  much independent of banks and government, remember that most of these politicians have great share in respective banks. Bank revenue became lower as people felt more comfortable keeping their money where they have  more control over what happens to their money as compared to banks which will debit   you anyhow and stress you so much in its operations. The banks experienced low available funds and it affected their returns to the government, so banning Crypto was one major way to make money return to the banks. But I believe it there a turn in government policies on Bitcoin, it'll boost the economy readily.

[Jascrypt]

If these big investors like Dangote, Tony Elumelu and others really accept to invest in Bitcoin, this will give the public more edge to trust and invest in Bitcoin in Nigeria including foreign and smaller/local investors in Nigeria and will still affect the government decision in making bitcoin a legal tender in Nigeria but we know that the Nigerian government will definitely find a way to gain from this and if its not favourable to the citizens, we might just continue like this after all we don't really have much challenges in using bitcoin in Nigeria.

You are point and personally I prefer we continue with the status quo because I don't want to hear tax charges and tax increment.

[Majestic-milf]

Yes it's no news that the Nigerian government has chosen to be a menace to crypto-currency enthusiast but so far they have tried but still the resolve of Nigerians is still strong and crypto-currency activities has still been going on. I personally believe its impossible to stop Nigerians from Crypto but it would be wise for the Nigerian government to look beyond their hate and see the opportunity crypto-currency can even offer the country.

So if I understand clearly, you feel say even if these big men for the business world no rally in support or add am to their portfolio, ordinary individuals fit  push Govt hand? Because I believe say there's power in unity and since people like Gaius wey you mention don embrace am, you think say people like am go fit do something?

[CryptoGirl_200x]

This na something wey me self don sometimes reason am say, one of the reason why USA government kind of dey helpless in terms of banning bitcoin na due to the fact say, there are many of her citizens wey don invest heavily for bitcoin, and this no be just ordinary citizens, but people of high calibar, people wey fit move and turn the economy of the country due to their kind of influence.

So for me, i believe say if the big people way we get for naija fit begin investing in bitcoin and making it public like those wey dey US dey do, e fit change the narrative wey our nigerian government get towards bitcoin and cryptocurrencies in general.

And to also add, they no need to make the investment personal, they fit use the name of their company invest, the same way wey Elon musk use him Tesla company name invest in bitcoin.

[Davidvictorson]

I don dey reason dis mata of Bitcoin in Nigeria and the way Govt dey make usage and operation a bit difficult and I come dey wonder weda e fit get a bit of breathing space if some of the big players in the business world pick interest in investing in them.

The truth be say we get breathing space. If we nor get breathing space Fintech companies like Patricia,Roqqu, and some other indigenious  crypto companies for nor fit e see the light of the day because the government for don crush Dem.
 

Una go agree with me say naija no dey completely against cryptocurrencies, Bitcoin especially but them no also dey friendly but just like the way El Salvador and Central African Republic take bold steps in making am dia legal tender, una feel say government fit relax some regulations on am if big cats for the business world like Aliku Dangote, Tony Elumelu and others decide to add Bitcoin investment to their portfolio?

Na for here we take make mistake. Me I nor sure say people like Dem Alikoand otedola dey interested for this Bitcoin thing.if to say Dem dey interested Dem for don lobby the government. Dem just be like Dem Buffet. Na old money Dem be.

Another reason wey make me reason this mata say none of us be stranger to how fast the naira dey depreciate sharparly against the dollar and currently, 1dollar to naira for black market nah #1,009 as at time of writing and if we big ogas them fit do something, maybe e fit push the president to rethink him stance on Bitcoin because we need something wey go help our economic situation and so far, Govt seem to be running out of ideas.

See eh nothing concern us with the dollar. China currency to dollar na also the way wey our naira dey with dollar but their economy strong wella. Make we still remember say Bitcoin dey very volatile and e nor go too make sense for older generations to put their hard earned money inside am.

Well, one day sha we go reach there.

[Mate2237]

If these big investors like Dangote, Tony Elumelu and others really accept to invest in Bitcoin, this will give the public more edge to trust and invest in Bitcoin in Nigeria including foreign and smaller/local investors in Nigeria and will still affect the government decision in making bitcoin a legal tender in Nigeria but we know that the Nigerian government will definitely find a way to gain from this and if its not favourable to the citizens, we might just continue like this after all we don't really have much challenges in using bitcoin in Nigeria.

Weti you tok na true. If those guys invest in bitcoin even the president sef go accept bitcoin because im sef go think say bitcoin go make di economy good. Do you know dat those people you mentioned have an influence on the federal government and the various state governments because that is where all the big politicians dey hide their stolen money.

So if them accept bitcoin and tell the government the economic benefits of bitcoin my brothers and sisters the government accept bitcoin in sharp. Because their money is there and the capital investors are telling them what will benefit them, they will definitely accept the proposal.