Nigeria Economic inflation the reason for bitcoin investment/adoption

[Pi-network314159]

So many shops will shutdown in Nigeria because of economic inflation. As I dey Waka dey go somewhere, the usual road I dey pass before. I notice say many shop no open again. And this shops na shop wey be say e been dey booble before, but all of a sudden e don dey lockdown. When I ask say why D shop them no dey open, them say the owner say things too cost Naim make them no open. Even the shops them wey dey self, I dey even pitty them, because you need to see the complain wey dem dey complain about the wey things dey cost for market. And now one  person come dey reason about online business.  say E better for people wey dey do online business like bitcoin.

So now with that statement alone, show say more investors go still adopt Bitcoin more. Because physical business don they fill the impact of not investing on Bitcoin.

So I been wan tell am about bitcoin investment how e dey be, but I no get time to explain my self.  So wetting ona think about economic inflation and Bitcoin adoption?

[Barikui1]

My brother as e be so, the country no funny at all again, to complain don tire me, na to look for way forward nai dy my mind. some people wey been dy talk say e no concern them, now self, dem don dy feel the impact of the economy, businesses dy close everyday, people now dy search for an alternative, nai make dem fit reason Bitcoin, but you need to know say na only when person give you update you go know what up.
For we country naija, most people no even know the current update wey be Bitcoin, the problem be say if you begin to share update, some go take you as scam or yahoo boy, so before you share any Bitcoin update give anybody, try to use ur discretion to know wether the person dy normally ok.

[Charles-Tim]

So many shops will shutdown in Nigeria because of economic inflation. As I dey Waka dey go somewhere, the usual road I dey pass before. I notice say many shop no open again. And this shops na shop wey be say e been dey booble before, but all of a sudden e don dey lockdown. When I ask say why D shop them no dey open, them say the owner say things too cost Naim make them no open.

If this is true, this will happen in rear situation. It can not be common. Shops that I am seeing daily are become more many as more shops are built. No shop closed down just like that. If a shop closes down, likely because the shop renter wants to move to another location or change business. If the place attracts customers, you will soon see another person that will rent the shop.

Another reason a shop can close down is because the location is not favoring business. Or if thieves are common and stealing in such location and no security.

Even the shops them wey dey self, I dey even pitty them, because you need to see the complain wey dem dey complain about the wey things dey cost for market. And now one  person come dey reason about online business.  say E better for people wey dey do online business like bitcoin.

It is business, no mind the complaints. Assuming you bought A at ₦5000 a month ago, but you see it at ₦7000 today. You customer that you are buy something from will complain to let you know how the economy is and that price of goods and services are increasing, but you will see his shop getting better day by day if he knows what he is doing. Inflation can affect the naira but not the business if there are many customers buyjng something from the shop.

So now with that statement alone, show say more investors go still adopt Bitcoin more. Because physical business don they fill the impact of not investing on Bitcoin.

Inflation has depreciated the naira further, this is not new anymore. Many people are buying bitcoin to hedge against inflation and naira declination.

So I been wan tell am about bitcoin investment how e dey be, but I no get time to explain my self.  So wetting ona think about economic inflation and Bitcoin adoption?

In addition, know that some people do not invest because of inflation, but because they see bitcoin as a means of investment.

[Ever-young]

So now with that statement alone, show say more investors go still adopt Bitcoin more. Because physical business don they fill the impact of not investing on Bitcoin.

So I been wan tell am about bitcoin investment how e dey be, but I no get time to explain my self.  So wetting ona think about economic inflation and Bitcoin adoption?

No matter how inflation they hit the nation the best thing business people go do nah either to adopt to the price base on how them carry buy use like that sell those people way they come buy from them go know say eh no easy for anywhere so dem gat buy or go for cheaper things eh no get as u wan do am things don high be say eh don high we no go stay like that if one shop close eh fit no only be base on how costly things they for market lack of competence if add hand for there.

Me I no fit allow person way dy do business to leave am come invest for bitcoin way the price dy waka up and down for business way be say if u active you fit they sure of your profit on a daily basis no be Watin I go come advise anybody to leave join bitcoin. Mind you for this bitcoin investment no be Watin him go invest today come take profit tomorrow so make eh better they aware of that one incase u wan tell am more about am or him wan enter all of us way dy crypto ways also no Watin our eyes dy see.

[Churchillvv]

I'm left with a little to say because Charles Tim and Ever Young has short down everywhere with what I would have love to say to you.

Anybody that closes his or her shop complaining about the economy is absolutely dreaming, infact I see the story not to be the core reason for shorting down any business. you dey whyne? you no know say na situation like this wey most business men and women dey find? the higher the goods in the market the higher the rise the price. The only people that gets hurt is the consumer not the retailer abi you no do economics for basic knowledge? you supposed know this one na. just kidding.. lol

See no matter the economy the country businesses can never short down is either for personal reasons that the shops closed.

For people adopting Bitcoin it's more like the way forward that's why you see people talk about investing in Bitcoin because it's going to yield profits in dollars and as the rate is that's more like the only way to keep going by eating in dollars.

[Y3shot]

Things are very hard now , and not even easy to sustain business.  If you check around most businesses have  closing down just because of the high rate of inflation.  But I don't think quiting your business to start up bitcoin investment is not the best for you. For you to start up bitcoin it is good to have a source of income that you depend on. Bitcoin is a longterm investment that that you can't depend on because profit can only be gained if it is invested for long time.

[Pi-network314159]

lack of competence fit add hand for there.

Wetting you and oga @charls Tim talk na true. Expecially this one wey you talk like this na one of them. Incompetency fit cause business to close down an people go blame am on economic inflation and if person no reason am well you go believe say na true. Just like wetting oga Charles Tim talk say no matter how the inflation wan be say business people go only adopt to the price.  except say the location no good.

But now wetting I wan ask be say what if due to price depreciation of naira to dollar come make something wey you dey buy at #10000 come dey cost #20000 and because of that people come dey leave your shop they think say na you dey high the price and people no come dey buy again from you? How the business go be? Wetting I wan let ona know be say no be every business fit withstand the economic inflation.

Another example be say person fit go market go buy goods when price don  High, like you buy good worth of #3m and when you come back after a week of your return the price of wetting you buy don depreciate to @#1.5m or #2m while then the new people wey buy for market now come dey sell cheap and you now they struggle to get back your initial capital self people no come buy from you, how e no go affect your business? Em go affect now because you go wan sell your products to get your money back and you must sell according to the current price of stock for market. Maybe out of #3m goods, you sale #1.5m losing #1.5m business never fold?

[OGsmall]

So many shops will shutdown in Nigeria because of economic inflation. As I dey Waka dey go somewhere, the usual road I dey pass before. I notice say many shop no open again. And this shops na shop wey be say e been dey booble before, but all of a sudden e don dey lockdown. When I ask say why D shop them no dey open, them say the owner say things too cost Naim make them no open. Even the shops them wey dey self, I dey even pitty them, because you need to see the complain wey dem dey complain about the wey things dey cost for market. And now one  person come dey reason about online business.  say E better for people wey dey do online business like bitcoin.

So now with that statement alone, show say more investors go still adopt Bitcoin more. Because physical business don they fill the impact of not investing on Bitcoin.

So I been wan tell am about bitcoin investment how e dey be, but I no get time to explain my self.  So wetting ona think about economic inflation and Bitcoin adoption?

OP no be just ur area self ohhh with my area  too, Omo na most shops as of 2023 then shops for my area Dey sell market like mad but now many do lock shop put key for houses.
Just today I was on phone on X app to see what going on I just saw a post that says.



 I just laughed cause the sufferings is to much
Just imagine how is one mudus of rices I think it should be around 1600 or 1700 that for local rices ohhh God no how much be prepared one self
I just believe say e go better for we country….

[Su-asa]

No get me wrong, I get the feelings say person way invest for Bitcoin dey do other business way e dey take get money we e dey use dey invest, then how them go just close down their business when dey give them money then use am take invest for Bitcoin, from the small time way I dey here I done learn say if person no dey do anything or get source of income the person no go fit hold e coins or accumulate Bitcoin.
The country em self na military training so how person go get money for crypto currency and no get anywhere to get more money but you get money wey you put for Bitcoin. My brother that investment no go last the person go use all the money take do something else. Moreover most crypto newbies wey no sabi what's up go think say Bitcoin investment na sa soon as you invest nah so your money go take grow over niger  while na big lie.
All of us know say dollar high but one thing I get for mind be say the hight of dollar no reach us na our leaders them dey manipulate all those things, I want talk some things and I want make anybody way dey read am read am well and also give me feed back make I know if na me dey make mistake or something. Now I hear say border dey on short down for long, but still goods price dey high, and we no dey import anything but them dey high (abi we sef dey use dollar currency for some part of naija?)
We no dey import but things price dey high, just look at bags of rice and the rice na we dey farm am but e dey high, yam self dey high, eggs dey high and them go say na dollar cause am... All I go talk be say our leaders dey manipulate the country and not dollars.

[Pi-network314159]

No get me wrong, I get the feelings say person way invest for Bitcoin dey do other business way e dey take get money we e dey use dey invest, then how them go just close down their business when dey give them money then use am take invest for Bitcoin, from the small time way I dey here I done learn say if person no dey do anything or get source of income the person no go fit hold e coins or accumulate Bitcoin.
The country em self na military training so how person go get money for crypto currency and no get anywhere to get more money but you get money wey you put for Bitcoin. My brother that investment no go last the person go use all the money take do something else. Moreover most crypto newbies wey no sabi what's up go think say Bitcoin investment na sa soon as you invest nah so your money go take grow over niger  while na big lie.
All of us know say dollar high but one thing I get for mind be say the hight of dollar no reach us na our leaders them dey manipulate all those things, I want talk some things and I want make anybody way dey read am read am well and also give me feed back make I know if na me dey make mistake or something. Now I hear say border dey on short down for long, but still goods price dey high, and we no dey import anything but them dey high (abi we sef dey use dollar currency for some part of naija?)
We no dey import but things price dey high, just look at bags of rice and the rice na we dey farm am but e dey high, yam self dey high, eggs dey high and them go say na dollar cause am... All I go talk be say our leaders dey manipulate the country and not dollars.

I understand wetting you dey talk but the main point be say the person in question no no much about Bitcoin but em believe say Bitcoin investment go dey profitable pass the one wey E dey do but not knowing say bitcoin investment no be so em be. That is why I no fit explain anything give am.

Them for the massive adoption of Bitcoin do to inflation no mean say people no go do business, but if them learn about Bitcoin them fit dey keep there fund for Bitcoin or better still  use am buy stable coin wey go help then regain the loss wey dem dey get do to inflation. I believe If them know more about bitcoin them go take advantage of am. Just like many busines people wey been no sabi about bitcoin don sabi am now because of one thing or the other and then dey make profit either by keeping there fund for stable coin like usdt or also by investing in bitcoin.

[DubemIfedigbo001]

So many shops will shutdown in Nigeria because of economic inflation. As I dey Waka dey go somewhere, the usual road I dey pass before. I notice say many shop no open again. And this shops na shop wey be say e been dey booble before, but all of a sudden e don dey lockdown. When I ask say why D shop them no dey open, them say the owner say things too cost Naim make them no open. Even the shops them wey dey self, I dey even pitty them, because you need to see the complain wey dem dey complain about the wey things dey cost for market.

The thing dey affect wella like this, even you wey dey go buy something from the shops, the price wey them go call for you fit give you high blood pressure normally. The tension wey dey the country now high wella, Jagaban just dey mean dey engineer the inflation with em never do well money policies.

And now one  person come dey reason about online business.say E better for people wey dey do online business like bitcoin. So now with that statement alone, show say more investors go still adopt Bitcoin more. Because physical business don they fill the impact of not investing on Bitcoin.

As the state of the country be now, those wey no dey too feel am na those wey dey earn in Dollars or other prominent foreign currencies. when them change the money back to naira, them no dey feel the Impact like others as them dey one step ahead of the economy. No be only Bitcoin be the koko now, na also to dey earn in foreign good currencies

So I been wan tell am about bitcoin investment how e dey be, but I no get time to explain my self.  So wetting ona think about economic inflation and Bitcoin adoption?

You fit still tell am later. As himself don dey show interest in it, no hide the update from am, na so people dey take be others destiny helpers. You fit still refer am to this forum and help am open account make e for dey learn more.

It is business, no mind the complaints. Assuming you bought A at ₦5000 a month ago, but you see it at ₦7000 today. You customer that you are buy something from will complain to let you know how the economy is and that price of goods and services are increasing, but you will see his shop getting better day by day if he knows what he is doing. Inflation can affect the naira but not the business if there are many customers buyjng something from the shop.

Big boss, you go mind the complaints ooo because the increase in price dey affect purchasing power and em get as you go take increase the price to take see small gain for inside, nobody go gree buy, people now don dey look for alternatives to basic needs everyday, so now no be time of to know what you are doing, the inflation is affecting the patronage excessively. No matter how tctical wey you dey, E no go increase the money wey dey customer pocket. Customer wey dey use same money buy two things before and you sef go see better thing inside, now the money dey only rech one thing and you go dey even struggle to see your gain inside. How you wan take improve the patronage, even if you know wetin you dey do. This one na general problem, nobody dey free from am.

[Kliss]

So many shops will shutdown in Nigeria because of economic inflation. As I dey Waka dey go somewhere, the usual road I dey pass before. I notice say many shop no open again. And this shops na shop wey be say e been dey booble before, but all of a sudden e don dey lockdown. When I ask say why D shop them no dey open, them say the owner say things too cost Naim make them no open. Even the shops them wey dey self, I dey even pitty them, because you need to see the complain wey dem dey complain about the wey things dey cost for market.
And now one  person come dey reason about online business.  say E better for people wey dey do online business like bitcoin.

So now with that statement alone, show say more investors go still adopt Bitcoin more. Because physical business don they fill the impact of not investing on Bitcoin.

So I been wan tell am about bitcoin investment how e dey be, but I no get time to explain my self.  So wetting ona think about economic inflation and Bitcoin adoption?



Yeah, the high rate of inflation dey  troubling, but I no totally agree with you because some of these  shops or store wey dey close down sometimes na poor management dey cause am. No matter how the prize of things cost for  market wey dem go if dem buy am com dem no go sell am de same amount and people go still patronise dem example if dem buy loaf of bread for #500 dem no how much wey dem go sell get their gain inside. We no say inflation dey but people must still buy things.

Economical inflation can really take toll on businesses and peoples livelihood. It's understandable that some  people are considering other alternatives and option like Bitcoin for investment. Bitcoin being a decentralised digital currency, can provide a sense of security and protection against inflation because it's value is not determined by any specific government or central bank. It's important to remember that investing in Bitcoin, like any other investment come with risks. Its always a  good idea  to seek for  knowledge, thorough research and advice from others who are into bitcoin investment.

[Cryptoprincess101]

So many shops will shutdown in Nigeria because of economic inflation. As I dey Waka dey go somewhere, the usual road I dey pass before. I notice say many shop no open again. And this shops na shop wey be say e been dey booble before, but all of a sudden e don dey lockdown. When I ask say why D shop them no dey open, them say the owner say things too cost Naim make them no open.

If this is true, this will happen in rear situation. It can not be common. Shops that I am seeing daily are become more many as more shops are built. No shop closed down just like that. If a shop closes down, likely because the shop renter wants to move to another location or change business. If the place attracts customers, you will soon see another person that will rent the shop.

Another reason a shop can close down is because the location is not favoring business. Or if thieves are common and stealing in such location and no security.

Though he might actually be right that some businesses are shutting down due to inflation because if they buy stuffs from the market at higher prices definitely they will as well add prices in their retail business and it is difficult to convince consumers that the price of things have skyrocketed in the market as some will even leave your shop to another and if they find out that the person is selling lesser than you regardless of the small amount it may be; they will start skipping your shop and in such a situation your business would start going down as a result of low patronage so it is possible but however, if the prices of things increases in the market you would also have to increase yours in other to make some profits and if you're in a good location where people around understands the cost of things in the market, they would patronize you regardless of the high price you sell to them.

[SmartGold01]

No be say things too cost for market but na lack of management dey cause am what about those people wey dey sell something their head dey 4 or 10? wetin just dey there be say when you see the market don change you too go change your price when you buy those goods come shop to dey sell and that shop owner needs proper planning and management because a lots of business dey run and even people self still dey plan to even go into provision store and any other business out there.

If you wan tell people about bitcoin its very easy i think e get plenty topic wey lots of people don already raise wey concern how person fit carry relate with another person for bitcoin investment even me self den been raise topic and people come give me guideline how me take enter dey tel people as well, but you go mind the kind of people go you reason about bitcoin investment since most of them just dey think say ones them investment witin few days dem go cover their money forgetting say this bitcoin investment no dey like that for one day people need patient to see money here otherwise e go hard.

[Obim34]

No be say things too cost for market but na lack of management dey cause am what about those people wey dey sell something their head dey 4 or 10? wetin just dey there be say when you see the market don change you too go change your price when you buy those goods come shop to dey sell and that shop owner needs proper planning and management because a lots of business dey run and even people self still dey plan to even go into provision store and any other business out there.

You suppose understand say as the shop close no mean say the person capital finish or no money to buy goods, just as the price of these goods increase their capital no go dey enough to purchase enough goods wey go atleast attract customers, so instead they prefer hold the money den find alternative to use dey survive or find another business with lesser capital.

[iBaba]

Well, I don't know how this will look like to other members on this platform, but for me, no situation should prompt or rush you into investing in Bitcoin or other cryptocurrencies. Let be it be a thing of choice that is well thought of by the choice maker before that person can decide to start to invest in Bitcoin.

The reason why I'm giving this advice is that so many people would start from a beginning with humongous amount of investment and then at the short run they come to cry that their money is gone.

If I was the one, I would have put it in a way that  encourages a lot of people to go into learning Bitcoin for the 1st time, understanding what it means to invest in the currency. Because I don't know why you should be using the currency for investment in the 1st place and there's no prior knowledge about how the platform operates.


It's key critical for every other person that is investing to make sure that he knows why he's investing.

So first and foremost, even if the economy of your country is biting your business and you want to invest in cryptocurrency, I would advise you to go and learn the intricacies as far as crypto or Bitcoin investment is concerned.

Also touch on knowledge about the Bitcoin market trend. when there is an upscale or when there is an upward movement of the bitcoin value in the market or when there is a Bear run in the value market of Bitcoin. Some of these knowledges are going to help you really in terms of making decisions during your process of investment and when you feel like you should take out the investment completely or should not. They are hard decisions that you may want to take without making mistake whilst investing huge sum of money in Bitcoin.

[Makus]

Currently, This na our everyday problem, you go store today to buy something, the next go that same place, the price of things dey change rapidly, and that na wattin no good at all for the country. Forget say some person dey into Bitcoin and other online business, that no be still wey to escape from inflation. Even it you dey earn in dollar, you no go fit beat the inflation rate, if you try to still manage, complain must dey along the way. Even big men sef dey complain on a stead, and that na to tell you say, e no easy for anybody especially those wey dey earn in naira.

Though if you dey earn in Bitcoin or dollar, you get upper hand pass person wey dey earn fiat currency, but what about the rest persons for the country. This inflation matter is getting out of hand, and the government them need to take good actions wey go show say dem dey watch wattin dey even happen sef. This no be wattin we expect from the government. But naija my country, some persons sef dey do the increase pass the way e support to dey but we just dey look Dem.  I believe say even if the naira to dollar conversion rate come down, some things wey rise go definitely refuse to come down.