Dollar increase

[Churchillvv]

When I see talks about Nigeria economy I just get pissed and tired at the same time. like why are they doing this to us? I see people agitating on social medias tell the truth, I see people with good intentions everywhere but what the hell is wrong why is it not working?. I know the answer and most of us knows this answer but we can't help it. if only one person can stand for use the rest of us will back it up and say no to this manner of stupidity in our country.

To summarize everything Nigeria is operating under external forces, countries like France, China, South Korea, United States of America, British government etc are the problem not only Nigeria is facing but Africa as whole. We are not allow to agitate for our rights, if we do we die. check almost all the coup d'etat that happen in Nigeria was sponsored by the US for raising allegations on them. even barrack Obama told Jonathan to his face that they are coming for him if he doesn't leave the sit for the next ruler which is Buhari a that has negotiation with them. OH our great country that fights for other African countries is now borrowing from other countries.

I would have love to go forward with Nigeria and it's cost of inflation but I can finish up everything here. everybody should do what is within there power still going towards achieve a healthy economy and one day it will all be over but don't expect the price to fall back to it's normal yet because they are still in power. N 1500 to N 1600 might be hit soon.

For Bitcoin at least we have it as a currency that is backed by humanity (the masses) the more people run there own nodes the more we have control over our money.

The increase in dollar rate here in Nigeria does not really affect Bitcoin directly but affects Nigerian's who would have bought Bitcoin in higher quantity but because of the rate it will reduce the rate of adoption in some sense but increase it from other perspectives.

[Dailyscript]

The question is Nigeria government responsible for this increase?

Yes Nigeria is the real cause of the problem and because they plan the devaluation of our currency, when they did structural adjustment programs in 1986 where they devalue our currency every week for 32years. You can listen from X vise president prof yemi osibanjor on a speech he made. I saw this yesterday when I was going through my Facebook.

and if they are how to we solve this problem and get things back to normal

They have the power to do it but refuse to do it. The only thing I will advice everyone is to invest in bitcoin because that is the only way they can revive the devaluation of the currency. At least personal devaluation not total devaluation.
this is a statistics I have been able to make since December 26 to January 27 being today, on price price change in binance:









so investing in bitcoin or usdt will make you recover some lost amount at do to inflation.

But the question I could love to ask is bitcoin and dollar related or does increase in dollar affects bitcoin rates

Bitcoin and dollar is not related. Bitcoin is a digital currency used world wild, while dollar is the currency for the USA. But used as standard curency with pounds and Euro.

Dollar does not affect Bitcoin. Dollar is just like a stable coin while Bitcoin is a volatile currency which change in due time with many factors like demand and supply, Market capitalisation, bull and bear season and market dominance.

How do you expect the government to harness this situation when they cannot even control the problem of low cash flow in Nigeria? Sincerely, the government cannot help us. We, the masses, have been pleading for help not today but a very long time ago, and till now, nothing has been done about it. The better we start paying attention to how we can invest the little we are seeing so that the dilemma of inflation will not fall on us unexpectedly. Let us remove our minds from the problem of the country and find a way to solve the way it affects us individually. Since the president and his cabinet have chosen to become selfish,. I wont blame them because if the same opportunity were given to so many of us here, we would do the same. One man for himself—that is the slogan.

[Doan9269]

But the question I could love to ask is bitcoin and dollar related or does increase in dollar affects bitcoin rates
 

Let's try to expatiate it, there's difference between dollar a d bitcoin first , the united state dollars is fiat and bitcoin is a cryptocurrency which is a digital decentralized coin, if the dollar is being affected either positively or negatively, we are going to see it's effects only on naira, exchange rate of naira to USD will either rise or fall, same as well if the Nigerian economy is getting better or worse, our own local currency is what gets affected the most, while the whole of this has nothing to do with the bitcoin market price to rise or fall for any reason because they are entirely different currencies, system and network.

[Cryptomultiplier]

But the question I could love to ask is bitcoin and dollar related or does increase in dollar affects bitcoin rates
 

Let's try to expatiate it, there's difference between dollar a d bitcoin first , the united state dollars is fiat and bitcoin is a cryptocurrency which is a digital decentralized coin, if the dollar is being affected either positively or negatively, we are going to see it's effects only on naira, exchange rate of naira to USD will either rise or fall, same as well if the Nigerian economy is getting better or worse, our own local currency is what gets affected the most, while the whole of this has nothing to do with the bitcoin market price to rise or fall for any reason because they are entirely different currencies, system and network.

Your emphasis on the disparity between Bitcoin and dollar is very valid.
While dollar, Naira are all fiat currencies and the price is based on the rate of exchange at the moment, Bitcoin is a digital decentralized currency on its own.

The only time BTC and Naira or dollar get to clash or intersect, is when one is either buying a crypto/BTC asset like the BTC ETF or one is converting their crypto/BTC holdings to the local fiat for withdrawal or payments.

At then, the price of the local fiat one intends to deal with, which is the Naira in this instance, will be adversely affected by the exchange rate of dollar to Naira, and it would reflect heavily on the fees.

[Jaycoinz]

Omo this dollar increase no be chaise oo, the matter just tire me because everything don skyrocket to the roof, the thing wey dey trip me sef be say the government just no wan do something abi na the something wey dem dey do na dey cause the increase like this. Just imagine how the country don bad so tay the average man no even fit see food chop talkless of to buy clothes wear.

Just yesterday me and ma guy dey discuss na him come bring up this issue of high dollar and the annoying part sef be say him dey very happy about the issue because say him dey earn in dollars so as them dey pay am him money too dey big but unknowingly to that everyone else wey no dey earn in dollars dey suffer watin no good for this we country.

[Samlucky O]

How do you expect the government to harness this situation when they cannot even control the problem of low cash flow in Nigeria? Sincerely, the government cannot help us. We, the masses, have been pleading for help not today but a very long time ago, and till now, nothing has been done about it. The better we start paying attention to how we can invest the little we are seeing so that the dilemma of inflation will not fall on us unexpectedly. Let us remove our minds from the problem of the country and find a way to solve the way it affects us individually. Since the president and his cabinet have chosen to become selfish,. I wont blame them because if the same opportunity were given to so many of us here, we would do the same. One man for himself—that is the slogan.

Like I said before government can control it but decided not to. Which could be creating employment for the masses, increase productivity, reduce importation and increase exportation. Looking into commercial agriculture. Providing a standard regulatory bodies that can monitor or track down who intentionally over hype there market.
So if you check my reply you go see say I talk say na we go invest in bitcoin to secure our future than waiting for this so-called politicians

[odunybiz]

There isn't any doubt about this. Naira will continue to depreciate if our government does not work to stabilize our economy. I once wrote an article when dollar was still #940, telling people to keep USDT or BUSD for profit.

Post: What I think about buying and keeping USDT/BUSD due to our recent bad economy.
Link: https://bitcointalk.org/index.php?topic=5463325.msg62698102#msg62698102

I'm not in any way surprised about this great depreciation in naira. I'm sure USDT will be traded for #1500 soon, may be before the ending of next week.

[SmartCharpa]

We all know that dollar is increasing on a daily basis here in Nigeria and which I think is affecting the Nigeria economical system. I guess this dollar increase is another reason why some certain things are becoming very expensive because we actually import those item. Since these items are bought with dollar and for an high amount when converted to our currency, I think they will have no choice to increase it selling price to make income from their goods not only goods the increase of dollar have also affected the traveling agencies in Nigeria for example the airlines it has made traveling abroad very hard and expensive for people to travel. The question is Nigeria government responsible for this increase? and if they are how to we solve this problem and get things back to normal

We dey always complain when the price of goods increase, because we always think that the increase of dollar price they affect am, even in the past few months when the price of dollar drop down, I know see any sign that the price of goods are decreasing, if the prices of dollar still drop i don't think the price of goods will go back to normal again. For this country we dey wicked each other, some people will bought their goods from the store at a cheap price and when they get a news from where they bought say the prices have increase they will always increase the price of the one they bought at a cheap price, is that not a wickedness.

Na from this country you go hear person dey tell you say if it was yesterday that you come the price have not increase like that, i always think say na this fuel subsidy they make us to face all this increase of goods, because if you reason am since when the President promised to remove the subsidy that is when the price of goods start to they increase, everyone is complaining that the price of fuel they increase and by that time the dollar price have not started to increase.

[Youngkhngdiddy]

We dey always complain when the price of goods increase, because we always think that the increase of dollar price they affect am, even in the past few months when the price of dollar drop down, I know see any sign that the price of goods are decreasing, if the prices of dollar still drop i don't think the price of goods will go back to normal again. For this country we dey wicked each other, some people will bought their goods from the store at a cheap price and when they get a news from where they bought say the prices have increase they will always increase the price of the one they bought at a cheap price, is that not a wickedness.

Na from this country you go hear person dey tell you say if it was yesterday that you come the price have not increase like that, i always think say na this fuel subsidy they make us to face all this increase of goods, because if you reason am since when the President promised to remove the subsidy that is when the price of goods start to   increase, everyone is complaining that the price of fuel they increase and by that time the dollar price have not started to increase.

  No be lie you talk, we to day capitalize on the slightest opportunity, I never see  price of anything reduce before even after naira don get weight small, and even if you tell me say why the price still day the same you go come day hear silly excuses like transportation money day inside, and this and that.  Well I no blame them at all na how the country don make us to Dey do, we come carry survive instinct for our head pass anything, na why we day see people way fit go extra mile just for the money all in the name of survival.
   Our country day total responsible for the crisis wey we day face because of lack of proper planning and poor governance. Our leaders no even send us, thier own be say make money just day enter their pocket. Na only for election we go come day see them day show fake love with fake smile. And them day always use the same format over and over again na watin  day pain me be that, our people just too day blind and primitive to understand. I believe say every body eye go open now and those way still day do vote by sentiments and tribalism go see say nothing come out. At 21st century wey everybody every nation Dey try evolve into the next level, we still day struggle with the least thing as light Chaii !!! Who do us like this ?

[Uhwuchukwu53]

We all know that dollar is increasing on a daily basis here in Nigeria and which I think is affecting the Nigeria economical system. I guess this dollar increase is another reason why some certain things are becoming very expensive because we actually import those item. Since these items are bought with dollar and for an high amount when converted to our currency, I think they will have no choice to increase it selling price to make income from their goods not only goods the increase of dollar have also affected the traveling agencies in Nigeria for example the airlines it has made traveling abroad very hard and expensive for people to travel. The question is Nigeria government responsible for this increase? and if they are how to we solve this problem and get things back to normal

Now let’s talk about bitcoin. We all know bitcoin is a type of digital currency in which a record of transactions is maintained and new units of currency are generated by the computational solution of mathematical problems, and which operates independently of a central bank.
And it is commonly used and talk about here in this forum.

But the question I could love to ask is bitcoin and dollar related or does increase in dollar affects bitcoin rates
 

These are simple factor that can make dollars fall,this is a good government policy, controlling if our domestic market, reduction of importation, employment of labour Force, establishment of small, medium and Large scale business and entrepreneur. A good policy covers all manner of foreign exchange made during transaction some of our citizens pay their fellow citizens in dollars which have side effects to naira, good policy regulate our demostic market where what will produce don't have compition with foreign imported goods. Example garri is made locally, rice beans and some others, good policy can create a market for our local  produced where government we buy those products and regulates price. They can do more of production by providing for local produced raw materials and loan to increase the production, sensitize citizens the reason of consuming what we produced by making some provision of using standard machine that harness those products properly. Allot is required but to make it short our nation is not ready because most of this things listed they can't do it.

[Y3shot]

Today again the dollar don increase over the naira, the way this thing dey go is like the thing is increasing everyday and the government not making any effort for this increase in dollar to stop. People  just need to think to how they can help themselves to strengthen their own money even with the fall of naira.  I don't think saving in naira will be the best idea for anyone because as the the dollar keeps increasing the more the naira price keeps getting wicker.

[Pi-network314159]

The dollar increase no be here o. As day dey pass me naso price dey increase and this thing come dey make me self dey think say na like this we go take survive for this country? Responsibilities dey for person to take care of. Every body dey look upto you say na you be the next father of the house. and to even take care of yourself never dey easy talk more of wife or your siblings.

So the price dey really going up. Wetting i for tell you be say, the best option na to invest for Bitcoin so that as the price the rise naso you go rise in the futures