Bitcoin accepted in central African republic; which way Nigeria?

[Hewlet]

Recently, it's been confirmed that the central African republic has accepted bitcoin as a legal tender in it country and this one na a very big win for them and for Africa and we join hand take follow celebrate them say them don make better decision when go help them seriously and them don project Africa wela as e take concern the quest for Bitcoin adoption.

But this come de make me reason my dear giant of Africa, which way nija? Abi our suffer never tire us?

When i search for some key indices online like the population of central African republic and that of Nigeria, the country when de involved in crypto and technology pass, and so many other sectors I find out say for statistic we be big name pass central African republic but for reality, wetin really de play?

Even for this forum our face show and our shoe de shine but nothing really de to show for it.

Naira de loose value on a steady bases, to see money withdraw now na wahala, bank charges de choke and network no de kuku help matter and we no wan try other method of transactions? Nawa oh!

Anyways, as we never ready to allow others congratulate us, I say make I bring this one come here make we kuku congratulate the central African republic when don stand now as the Bitcoin giant of Africa - make nobody argue am o.

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[Samlucky O]

Recently, it's been confirmed that the central African republic has accepted bitcoin as a legal tender in it country and this one na a very big win for them and for Africa and we join hand take follow celebrate them say them don make better decision when go help them seriously and them don project Africa wela as e take concern the quest for Bitcoin adoption.

But this come de make me reason my dear giant of Africa, which way nija? Abi our suffer never tire us?

Congratulations to them! but I no see how this news take affect us. Because this board sorpos be something wey concern 9ja and not South African republic.

Then the matter of 9ja bitcoin adoption, we no need to panic if we see say other countries dey use bitcoin as there legal tender. Because weather legal tender or not,  we don dey use bitcoin for long. And 9ja na one of the most used bitcoin country.  So that is to tell you say we still dey try.

One thing ona never understand be say bitcoin adoption dey massive for the country 9ja, but na only ban them ban transactions wey dey connect to cryptocurrency. For example withdrawing your coin to bank direct or any transaction wey the description carry crypto currency. but that one no mean say bitcoin adoption no dey. or say effort no dey for where the youths dey concerning bitcoin legalization or making it a legal tender.

Moreover @Filipino Don creating this thread 👉 Re: Bitcoin Legal Tender in Central African Republic

[Mate2237]

Central Africa adopted Bitcoin to be their legal tender since last year so it is not a new News in the cryptocurrency ecosystem. If your can see from the image at the bottom of the letter where they signed the signature, you will see the date Bitcoin was adopted in the country. And that should be around April 26, 2022 and at that time I was still outside and when I come in a thread was created for the adoption. And people were making comments.

Adoption of Bitcoin is an individual business and not for all. It is only for those countries which sees Bitcoin as an alternative means to grow their economy can adopt it. Nigerian leaders never take decision on their own but depending on their colonial masters in any international investment. You will notice that once British adopt Bitcoin and instruct Nigeria government to do the same they will do it. We are still on the depending side of the economy. The economic dependency is still very much active in the country.

[sokani]

Op, this news no be today, e don tay and for clarity, Central African Republic no continue with their Bitcoin adoption again, their weight no fit carry. So no point to compare dem with Nigeria wen their Bitcoin adoption na total failure. As e stands now, na only El Salvador be de only country wey don adopt Bitcoin as a legal tender.

"But this spring, the Central African Republic decided to repeal its law enabling Bitcoin adoption altogether, arguably ending its experiment before it even began."

https://www.thestreet.com/crypto/policy/central-african-republic-bitcoin

[Frankolala]

This na old news OP, and why you dey take us back. E no dey compulsory say a country most accept bitcoin as a legal tender before the citizens go fit use bitcoin or start to enjoy the benefits of bitcoin. As long as bitcoin is not banned in your country, it means that it is open for all to adopt. For example, Nigeria no accept bitcoin as legal tender and CBN being restrict banks from trading crypto, but today see Nigeria dey among the countries for Africa wey dey into crypto pass the rest.

Central Republic of Africa accept bitcoin as a legal tender no mean say all their sufferings don end, and he no also mean say them better pass us for many areas. Abu you no see El Savaldor wey accept bitcoin as a legal tender, that one no mean says them better pass US, or other second world country wey never accept bitcoin as a legal tender. Every country government get right to wetin them like.

[Wiwo]

At least you should have used the forum search to see if this topic has been discussed before,  and more also you are sharing news that dates back as far as February 2022 which is along time ago,  best you lock this thread at once to avoid complicating this discussion since we already have an on going topic dedicated to this discussion.

But on the Issue with Nigeria's Bitcoin adoptions,  it's so far from now and to a good extent we can roll with things the way they are currently since the government did not outrightly ban Bitcoin in its entirety.

[Y3shot]

Me I no dey even wsit gir our government to talk anything concerning bitcoin,  I just like the wey we dey promote bitcoin ourselves even without the government.  I think the way Nigerians are using bitcoin it is enough and I know business wey they accept Bitcoin as payments.  Even if our government never say anything concerning using bitcoin our people still dey use bitcoin freely without no restrictions from the market,  the only thing be say our banks no dey sell ahm the way them be dey sell ahm before now.

[Mr.suevie]

When I first see this thread I think say anoda update don dey about the status of their adoption of crypto(Bitcoin) as legal tender but I come later know say na the same old story about their adoption since, well like most people don already talk central African republic adopting Bitcoin as a tender isn't new news again although their step don give other government courage for African to also take this bold step because e show say Bitcoin and government can partner together instead the hate wey most countries government dey put for Bitcoin.

Currently now two countries have been certain about their adoption of Bitcoin as legal tender which is El Salvador and central African republic but I know with time coming more will follow up and also take the bold step, I only wish Nigeria can also partner with Bitcoin for a start because making Bitcoin as a tender will definitely be too bold a step to take at this stage.

[DaNNy001]

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Central Republic of Africa accept bitcoin as a legal tender no mean say all their sufferings don end, and he no also mean say them better pass us for many areas. Abu you no see El Savaldor wey accept bitcoin as a legal tender, that one no mean says them better pass US, or other second world country wey never accept bitcoin as a legal tender. Every country government get right to wetin them like.

To accept Bitcoin as legal tender can also be placed on the same thought of actually highlighting that Bitcoin itself isn't  a get-rich-scheme because many people will be thinking that since El Salvador adopted Bitcoin the country has certainly solved all their problems. Bitcoin has big advantage of it being accepted as a country legal tender but it doesn't automatically solve all their problems but atleast it will definitely improve the economy by a certain percentage but that too still depends on the leaders to set up things that would help the adoption and usefulness be at it extreme. Example of what am saying would be the energy mining house and the new recent BATM that involves the lightening network set up in El Salvador to help boost the good effects of Bitcoin as a legal tender.

[Coyster]

This thing na old news na, you no see the date for wherever you been see this information. After El Salvador been make Bitcoin legal tender for their country, Central African Republic been join dem too, come make am legal tender for their own country.  But just as @sokani been talk, e no tay after CAR make Bitcoin legel tender, dem come change their mind again, so as we dey discuss this right now, Bitcoin no be legal tender for CAR, dem don rescind that law already. For all the countries wey dey the whole world, na only El Salvador wey make Bitcoin legal tender, so no dey talk like say Naija dey do anything wrong as regards this case so.

[nelson4lov]

It would take a while before Nigeria or other African countries go accept bitcoin as legal tender. Imo, it's less about the potential benefits that Bitcoin could provide to a country if it's declared a legal tender and more about the legal implications it would have as UK itself is yet to provide a legalized framework for handling Bitcoin. Except it's CBDCs, African governments should have no business pushing for a Bitcoin legal tender.

El Salvador was able to do it because their country is largely independent of the world power and it's a relatively small country as well.

[Smartvirus]

I no go lie you, if we nation legalize Bitcoin anytime soon eh, e fit bad well well for us. No get me wrong, Bitcoin na better thing o but, with the anonymous nature of funds transfer and the services of mixers fully functional in the system, the kind fraud way we politicians go commit with Bitcoin, man no go fit comprehend am.
As e be now, people Dey fraud with clear eye and traces without anybody even doing as much as to cough talk more of when a more anonymous system Dey invoked.

Omo, Nigeria need to fix systems like the judiciary and the armed forces before we go look towards legalizing anything. At least, make fear of these frauds Dey and not just within those kind men them way Dey use am cash out.

Meanwhile, that one nation don accept am no make other nations bad or behind in there plan for the country. Nigeria still better and na when you travel you go see.

[Makus]

I no go lie you, if we nation legalize Bitcoin anytime soon eh, e fit bad well well for us. No get me wrong, Bitcoin na better thing o but, with the anonymous nature of funds transfer and the services of mixers fully functional in the system, the kind fraud way we politicians go commit with Bitcoin, man no go fit comprehend am.
As e be now, people Dey fraud with clear eye and traces without anybody even doing as much as to cough talk more of when a more anonymous system Dey invoked.

Omo, Nigeria need to fix systems like the judiciary and the armed forces before we go look towards legalizing anything. At least, make fear of these frauds Dey and not just within those kind men them way Dey use am cash out.

Meanwhile, that one nation don accept am no make other nations bad or behind in there plan for the country. Nigeria still better and na when you travel you go see.

Omor, I no sure say this country fit fix anything again oo, our judiciary now, as e corrupt reach I no sure say we fit expect to see any changes, Dem wey naim be our hope before say dem nor dey side anybody if them dey make judgement, but now with your money you fit even win the impossible case for this country. Now wey dem don legalize am, make we see their real intent weda na to kukuma finish us or  weda na good plan make we see, but we pray make e be for the betterment of the country and the citizens, one of my padi sef been dey say, as Dem don remove the ban say na to carry tax for transaction take kill us be their next plan.