As our economy dey so, Bitcoin na blessing to us?

[Charles-Tim]

Even if our government sets a framework/regulation for crypto, it does not mean centralized exchanges would launch physical offices in Nigeria, i don't see why they'll want to do that or be forced to do that. The government would only give them their own terms of the crypto regulatory framework, and if these businesses think they cannot cope with it, they'll simply have to discontinue their services to Nigerian customers.

This would depend on our government, but assuming I am the president  (maybe in the next life), all the exchanges will be forced to have offices in Nigeria and I will tax them approximately because they are not different from banks. You can not believe that these exchanges have offices in those developed countries that later have strict regulations that forced the exchanges to leave the countries. The one I prefer most is the United States that makes all their exchanges to have United States domain and also have offices compulsory. Having an office can not be too stringent for the exchanges to leave, unlike the strict laws from the developed countries after the exchanges have offices in their country.

[Kelward]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individual to get direct control over their finances without relying on intermediaries.

Bitcoin na him be the koko, e give everyone financial inclusion and e no dey restricted by age, gender or territory. E put power in the hands of the people, no entity fit control or manipulate bitcoin na him make government dey see am as threat to fiat.

A remember back in days, if person wey dey obodo oyibo send you money, na always big challenge to collect the money, the process dey time consuming and this na after banks don carry out their verification checks. But Bitcoin don make everything dey easy for everyone, the transaction dey transparent, faster, better and e don eliminate the need for third party. E help many businesses strive as you fit buy something from abroad and pay with Bitcoin. Many Nigerians wey dey work remotely dey use am as a medium of payment for their services and e also give people wey dey into Bitcoin trading a source of livelihood.

No be lie, di decentralization of bitcoin, na real blessing e be for Nigeria, and any oda country, because e no get restrictions, nothing like say any country or entity de control or manipulate am. Anywhere wey di holder de for dis world, di coin no get any restrictions or barriers to take am make transactions. So no matter how naira de devalue e no get any effect for di bitcoin wey de inside your wallet. Plus you fit de trade am as a business, or de invest am on a long term and also make profit.

Dos days wey we de hear of money gram and western Union money transfer, person go send money from abroad and you go go bank to collect am. With bitcoin, nothing concern you and bank, na for di person to just run P2P with you and your bitcoin go enter your wallet directly, no third party.

[AYOBA]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
E dey empower individual to get direct control over their finances without relying on intermediaries.

That's correct, mate. Bitcoin is the first decentralized currency that is not controlled by any single organization or government, and it is used by more than 200,000 people due to its open source nature. Bitcoin is the best entirely contributed currency. It's made up of people like you, so there's no need for a bank or payment between you and anybody you're attempting to trade with. Because this, Bitcoin is the most trusted decentralized money in all over the world.

Bitcoin benefits a lot of people, especially the youths and which benefits Nigerians, and the entire world, not just our country. If to say their's not this Bitcoin, how do we think some youth will survive? The way Nigeria is moving on currently now, People are graduating from school every day in Nigeria, and their's no government work for them. To be honest, Bitcoin makes everything easier for people, even in terms of transactions, which are extremely fast, unlike Nigeria banks, which they will do anything they want with people.

[Asiska02]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individual to get direct control over their finances without relying on intermediaries.

Bitcoin really come to us as a blessing wey we don already accept and dey use am, dos wey neva adopt am or dislike d use na their choice and d bitcoin itself na alternative to fiat current and not compulsory for all of us but e no dey limited to anybody. One tin I like with bitcoin be say e dey close that gap of not having complete ownership of your money to yourself and dis na one of d greatest thing wey make many us emulate am come dey use am. Me I no get any thing to say to dos wey know about am an no wan adopt the use, na their choice to make as dis bitcoin no be something wey dey forceful on anybody. Just let dem know wetin dem stand to get, d advantages and disadvantages of it when you don’t trade the good way, and dey will be persuaded or convinced to join willingly wen dey get and understand the whole concept.

The way our Naira de depreciate in value to USD always is something to think about, but the government no de even reason how dem go take rearrange am so dat the Naira go get value small, so if you been de save Naira for account, your money don lose value and u no go fit buy anything wey u been de hope say d money go buy for u before; but if you get bitcoin for your wallet, you no need to fear or panic because your money go de get value de go.

One good thing wey I see say we dey get as advantage to dey earn in bitcoin be say we fit dey convert am go USD and then from USD to naira. Anytime wey naira dey depreciate against USD, if we convert am we go get higher value in naira but to spend am again go come be like say we no really see any different from when d price been never depreciate like that. Anytime wey naira dey depreciate against USD, na economy downturn dey cause am, so that’s why the value of the money if you wan spend am go still dey the same. The good thing I see with earning in USD for Naija be say, you won’t see any different, whether increase or decrease in your source of income and spendings on a daily basis. Earning in dollar and spending in Naira in Nigeria is directly proportional to each other.

[Mr.suevie]

This our country wey work no dey, at least people wey learn one or two things for bitcoin go fit use am hold body, just like me and other of our brothers and sisters wey dey signature campaign, bitcoin don help us reach another level for life. Traders too dey benefit. Bitcoin na blessing to us in disguise.

Blessing indeed, Omor this country for don show many people shega well well oo, even as e dey even show people sef already but the blessing be say we all dey enjoy the benefits and also gain knowledge on Bitcoin technology and other wonderful things wey dey included for cyber and crypto technology. My brother as you talk am na so e be because of not for these signature campaign wey men dem dey use hold body sometimes e for red well well oo.

[CryptopreneurBrainboss]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individual to get direct control over their finances without relying on intermediaries.

Censorship yes, Manipulation no. Bitcoin market is one of the most manipulated market and that can be a good thing and also a bad thing. The price of Bitcoin is influence by news which means it is manipulated by news and this one mean say bad news go make the price of Bitcoin to fall and goodnews go carry the price go up and that's why during bear market we always get more of bad news and the price keeps dumping while for bull market na mostly goodnews dey full everywhere. News is been used to manipulation the price of Bitcoin but the manipulation no dey last because at the end of the day the community power always win and no matter how they try to keep the price of Bitcoin down with all their negative news like exchange hacking, protocols and projects getting hacked, government crackdown on cryptocurency services las las the price of Bitcoin go still recover. Bitcoin is a blessing because it teaches about financial literacy, been incharge of your finance and so on.

No be lie, di decentralization of bitcoin, na real blessing e be for Nigeria, and any oda country, because e no get restrictions, nothing like say any country or entity de control or manipulate am.

Why we sabi lie to ourselves, yes Decentralized of Bitcoin is the greatest gift it gave to humanity but in Nigeria it isn't the decentralization that's our real blessing but the price increase (profit). Make I ask you, how many Nigerians dey use Bitcoin in a decentralized way wey you know outside the forum. Even most people wey dey here dey use Bitcoin with centralized services. Dem all dey trade Bitcoin for remitano, Binance or other centralized platforms. Dem dey use non custodial wallets as na blockchain wallet dey trend before but now trust wallet. Ask anybody wey dey into cryptocurency and the first thing you go see na Binance or trust wallet for their phone. The blessings wey Bitcoin give Nigerians na the price increase (profits) wey e dey give us, other things come secondary. Most Nigerian self dun run KYC finish for exchange just to get how to trade funds to their bank account. Without the profits dem many of us for dun commot the industry. The decentralization of the industry still need more preaching and that's what we're meant to do in our different surroundings.

[Adams0001]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.

Bitcoin na blessing for our naija but na only the people were believe with it because dey get many people for our naija where still dey talk say bitcoin na scam because dey don't get any idea on it and na them dey most suffer for the county because dey don't get something doing in the country dey just dey spoil some people mind since dey no do, dey won't makes another person do dey will be saying negative things about it for people, Bitcoin is volatile and government can control it and that make it stronger, I think that is why government make am illegal for the country because he can't get access with it, if know be say Bitcoin investment dey i don't know how many people go dey face for the country how the economic bad this days everything just dey increase price.

[Y3shot]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individual to get direct control over their finances without relying on intermediaries.

The existence of bitcoin Don really help the citizens in so many ways, before now when the economy was okay those early investors of bitcoin made their first money in Bitcoin.  Some youth for our country Don take bitcoin trading as an occupation and e Don really help them. The truth be say if tovsay bitcoin no dey and with what the present economy is like e for hard for the citizens.  Many people are working online jobs that is related to Bitcoin.  Any person wey say bitcoin no be blessing to this young generation  the person no dey say truth.  It is as the founder of bitcoin know say by this time the world go need bitcoin na why him create bitcoin.

[Gozie51]

Bitcoin for naija con be like say youths don get job. But truly, I know no whether youth still dey look for jobs like that like as e be around 11 years ago when bitcoin never show or even few years ago like 5 years back wey bitcoin begin trend. Guys dey introduce deir friends either to learn how to trade am or do any other thing without am. You go hardly see youth wey dey internet compliant wey no get binance app for fone and that one mean say the hussle dey online.

Na money matter and naija no dey carry last unto say na wetin go enter belle we just need first. No be about the freedom from banks, decentralization but how much difference in profit you fit sustain yourself with from trading or hodling btc.

[Zigabel]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individual to get direct control over their finances without relying on intermediaries.

Bitcoin na blessings to us more than some of us even know based on the opportunities wey e don bring for us, e come better pass as we e be say e dey decentralized so government or individuals no too get control over am, this na come make people wey they use am no need go Tru too many procedures to use am, and too much touch lighting no come follow as that they cause barrier for some transactions.

E get people wey the use of Bitcoin don help dem alleviate the problem them been dey get with foreign exchange, because now instead of the money they fit jus get Bitcoin and send am to anywhere in the world and the other people go receive am completely without any issues. The people wey dey run exchange now dey make money from am because of Bitcoin now dem don get work unlike before wey dem for dey idle as government say dem no get work for everybody, so Bitcoin don be blessings in many ways Dan curse as some pipo go wan dey think am.

[Smartgoat]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individual to get direct control over their finances without relying on intermediaries.

for what I have seen and hear so far about Bitcoin, even as, I never benefits from Bitcoin. I can tell you for free that, Bitcoin is a life changer, is a blessing to so many people here. sometimes I dey ask, what if there is nothing like Bitcoin coupled with the hardship the country is facing today. when you check all this, you will know that Bitcoin have done so much good to us.

[HajiBagi]

I swear na comfirm blessing sef, if not because of bitcoin how you think most of us wey dey this forum gi fit chop? Bitcoin Don save many life today wey we no fit imagine, the most likely part wey I come love am must is that it's not control by our government if not the kind of shege wey we go see no go be small thing, many people today don't have work, they only focus on bitcoin investment and today if you see them, them get money pass those people wey dey work under government, even many wey dey under government dey respect bitcoin if them hear the name, they are even among the people wey dey even get interest on investing their money in it.

This days sef I no dey see any young man who is well educated dey suffer himself dey walka around street say him dey find work, everybody just dey concentrate on how to become a successful person on their own,  because this life now you no fit dey wait say make you dey wait for your destiny helper, my brother you have to stand and use the knowledge wey you go get for school starts up something that you will never regret doing it, mostly many young boys now na through all this investment them dey see something chop now and you too as a human being wey you gast to make am, you have to stand up and follow people do what they are doing to become a successful person too, and all over the world bitcoin is well known as a good investment.

[sotelorene]

Well Bitcoin is really a blessing but not to everybody but to those who owns it now and those who will venture into it sooner or later because someone  who doesn't know about Bitcoin or who is not into it won't see it as a blessing.
However, it is really a huge blessing to those who has it now and those who will have it later.

[Marykeller]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.

I no go lie you, bitcoin na complete blessing give us wey know am. I d pity those wey still be doubting Thomas for wia bitcoin d up till now. I no get anything to say to them as they agree and accept wetin the media and government d yarn for wetin bitcoin to be. Financial freedom wey we d find na head by head.

The situation of how our country be nah, no be wetin peso no suppose to depend on one source of income wey go d pay am in naira(considering how naira to dollar exchange rate d now). Peso suppose get different source of income, if peso gets any freelancer work wey go pay am in dollar na em advantage. If peso choose to dull moment na em business cos peso need survive and invest for em future and the future of em children. Na bitcoin come be the sure way for that.

Anyone wey no wan invest for bitcoin, na em self em d do. Gone are the days wey peso need to convince peso to invest for wetin go benefit am for the future.

[Gormicsta]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individual to get direct control over their finances without relying on intermediaries.

Wetin you talk so na actually true, but make we no also forget say e get ways too wey e no favor Nigerians too. For example, this one wey fee don really high like this, the thing go really worry plenty people as them no go too see Bitcoin the way them been see am before. Especially for people wey no get plenty money for Bitcoin. Just imagine say them wan send small money via Bitcoin, them come sama them better charge. E just be like that time wey naira come scarce, wey if you wan withdraw small money from POS, them go knack you charge wey almost reach the money you wan withdraw. So the thing dey affect, not just us wey be Nigerians but every other people wey dey use the Bitcoin.

[Makus]

To be honest ehn, Bitcoin na the best thing wey happen to me this year, the learn wey I learn about am naim dey sweet me pass because even the small investment wey I don do, I dey see better change wey dey sweet my belle, and I still dey give a very big thanks to this forum members wey help me achieve this goal, assuming say i nor know about Bitcoin I for still dey think say to buy bitcoin person must get the full money to take buy 1BTC before em fit buy am. Anyway apart from investing wey Bitcoin dey offer, na still one of the safest wey to take make transaction using wallets, the feature of P2P without any intermediary na just one of the best feature wey person fit experience for business transactions. And no be say na person dey one place sef dey control the entire Bitcoin network, this na one of the thing wey make our government dem nor dey like make am succeed for the country, because no way for them to manipulate anything wey concern am.

[Agbe]

The control can be of two types: the first is the control over bitcoin price while the second is the control over your own money. Bitcoin do not give the government or central authority the power to have any of the two controls. But according to your post, you are referring to central authority control, like the government.

But regarding economy, bitcoin is an asset and its price is controlled by demand and supply. People buying more and the coin is becoming more scarce which makes its price to increase. In short, bitcoin is an appropriative asset and that is how I see it is helping Nigerians, for people to use it to hedge against inflation.

Well I don't know how it will look like and if individual whales can control the Bitcoin price then government entities can do that as well if they heavily invest in Bitcoin with their national wealth. But if the government is trying to control the price without investing, then they can not do that because as you rightly said, Bitcoin price is moving with the demand and supply. And one thing we have to know is that Bitcoin is not on this Earth to remove inflation if not inflation has been removed since but it is to make the Bitcoiners more comfortable in the time of the inflation because of the increase of Bitcoin. The economy is very bad but Bitcoin is making it users to surpass the economy so they are not feeling the impact of the bad economy. Though when they go to the market they feel the inflation rate.

[Obim34]

Of a truth getting to know about Bitcoin na better update wey dey help many people but the truth be say you fit dey consider am as the best blessing wey you don receive make another person dey cry say why him even know about Bitcoin in the first place. Maybe say him don loose better money for inside this our Bitcoin wey all of us dey rejoice. I get friends wey be say anything concerning Bitcoin dey know want here, sometimes e get some kind money dey go collect I go tell them to invest am inside Bitcoin because with the way the economy take dey now money no dey last again, anyhow you hold am for account or for cash before you know u don dey carry out expenses both the one wey necessary and the one wey no dey important.

So na better thing wey be say us wey dey here don learn how to manage our Bitcoin so as not to cry like the way some people dey do.

[EluguHcman]

Bitcoin na blessing to em investors and those way get interest to Invest on am considering how hard our economy be and the competition for the labour markets including the hijacks way our government dey do us just like when we dey work like lions but dey earn and chop like slaves or ants.
The way of Bitcoin really suit okay for this our economic system because whether things hard or e no hard for the country, whether crisis dey for the country or not, whether na economic break down as inflation or deflation, e no concern Bitcoin. Em own na to dey face em own differences like em dey another world. Na why e be digital currency and a decentralized currency.

Also as our dubious and rebellious government no get a dime control of this digital market of Bitcoin investments instead na everyone dey in-charge of em own Bitcoin coin such as the security aspects through the Blockchains.

However, things don hard for the country to an extend our currency (naira) no get value again so e com be say those who earn in hard high rated currencies like the US dollars na em the bad economy no dey affect. Imagine where $1 be #1,700+?  Our money don big for eyes and in figure but no values to afford tangible something.
This na also other benefits of Bitcoin being blessing to us all because Bitcoin dey calculated using the universal world exchange currency US dollar $.
So anyone trading or investing on Bitcoin na Dollars dealer.

As e dey sweet us the Bitcoin investors and scaling through the hard times the bad economic system set for us, na so e dey pain them the government specifically as them no get hands to censorship of the Bitcoin industry.

[Y3shot]

Bitcoin na really big blessing to Nigerians both in economy wise and generating money for people.  As the economy dey go bad it is affecting fiat which it is losing value because of this people will prefer to invest their money on Bitcoin than to leave it in the bank which it will depreciate over time. Many people have been able to generate money through bitcoin in one way or the other, bitcoin is really a blessing indeed . Their is no doubt that bitcoin has really been help to people in this bad economy.