HODling fiat is a loose-loose game:

[Coyster]

Holding cash or Fiat yield no increase to the person except it is put on a fixed deposit account to yield profit even as that bank always take it in return as charges fee and as bank maintenance,

Nothing like charges on transfer for fixed deposit account, as you no go fit spend the money until the stipulated time wey you agree with the bank, and if you opt for early withdrawal, that one get penalty. The main problem with a fixed deposit account be say the interest rate no dey attractive at all, how you go lock your money, only to earn around 7%-10% annually on your principal amount, that one no make sense at all. E better say you use your money invest, either in physical properties, cryptocurrencies, etc.

[Mate2237]

Op I have read your post, okay let me also analyse it from this perspective. As we speak, $1 is equal to #1,593. And if you have bitcoins, you will be smiling because the exchange is big. But remember that on the 1st of August 2024, Nigerians are planning to protest against the bad government in the country. And if things become worst and government properties are damaged then government will reduce the price of things and dollar will also come down and if you still have the same bitcoin that you have now and seeing the price to come down drastically will make you angry.

Because you will say if I have known... I am not saying that it is not good to hodle for long term. But now dollar is high and you bitcoin in naira is making you to smile everyday. But if good government comes in and reduce dollar to #150 or #100 to $1 then you will lose millions of naira from your long term investment... Be calculative in the investment. I have also seen this statement by other members here and altcoinstalks forum.

[Tmoonz]

If you're someone that's in your 20 to 50s and you're still saving money in banks and leaving it dormant, it obviously means that you don't know the value of money and if your account gets frozen, it suits you well. It's only our grand parents that made those mistakes of saving too much money in the banks for years without touching it and don't  consider that they can literally invest it into a meaningful asset that will yield a good return with time. This policy should never be an issue for any right thinking person because if you have like 2 million naira in your account, what should be your consideration should be which is the best asset to invest in and not to leave it dormant in bank as though you're an old and uncivilized person.

The policy is centered at enriching the politicians in authority  and in this hard economy, apart from the deceased, its going to be deficult to find someone that will allow his money to lie dormant when hunger has become the average man's best friend.

Exactly there is so much hardship in the economy such that it could only be a dead person's account that will be dominant without being touched, Bitcoin has actually brought hope for a a financial freedom, preserving privacy and creating investment opportunities and fighting against inflation of our local currency, civilization has taken over the world globally, it is only ignorant that will make those who are already informed about the potential of Bitcoin and has refused and enjoy it's benefits, Bitcoin usefulness of Bitcoin is no longer hidden just as a golden fish doesn't have a hidden place.

[CryptopreneurBrainboss]

Exactly there is so much hardship in the economy such that it could only be a dead person's account that will be dominant without being touched,

Dey play, belike you no know say men get money wey dem just hide for dominate account without it being touched for years. When government bring laws, many time no be the common man be their targets. Dem go dun get Intel say politicians dey hide money and dem dey look for ways to make dem releases the money into circulation by either using the money to create jobs or do other things wey go make the economy to move forward. Example na when dem redesign the Naira and hidden money just dey come from everywhere dey go back banks.

But now dollar is high and your bitcoin in naira is making you to smile everyday. But if good government comes in and reduce dollar to #150 or #100 to $1 then you will lose millions of naira from your long term investment... Be calculative in the investment. I have also seen this statement by other members here and altcoinstalks forum.

Lets look at the economy, Naira no fit go back to that price wey you call but it can obviously fall below N1k and people go lose shall but it was never a lose because your small money wey come out go get better value pass when you cashout block but e no fit buy you better thing. When the economy is better even though dollars na N500 you go still use that N500k wey you cashout from your Bitcoin of $1k do better thing than when you cashout N1.5M yet you no fit use am buy better direct Belgium car wey corolla been dey cost before.

[laijsica]

If you're someone that's in your 20 to 50s and you're still saving money in banks and leaving it dormant, it obviously means that you don't know the value of money and if your account gets frozen, it suits you well. It's only our grand parents that made those mistakes of saving too much money in the banks for years without touching it and don't  consider that they can literally invest it into a meaningful asset that will yield a good return with time. This policy should never be an issue for any right thinking person because if you have like 2 million naira in your account, what should be your consideration should be which is the best asset to invest in and not to leave it dormant in bank as though you're an old and uncivilized person.

The policy is centered at enriching the politicians in authority  and in this hard economy, apart from the deceased, its going to be deficult to find someone that will allow his money to lie dormant when hunger has become the average man's best friend.

Exactly there is so much hardship in the economy such that it could only be a dead person's account that will be dominant without being touched, Bitcoin has actually brought hope for a a financial freedom, preserving privacy and creating investment opportunities and fighting against inflation of our local currency, civilization has taken over the world globally, it is only ignorant that will make those who are already informed about the potential of Bitcoin and has refused and enjoy it's benefits, Bitcoin usefulness of Bitcoin is no longer hidden just as a golden fish doesn't have a hidden place.

The demand for Bitcoin is increasing day by day due to the financial freedom around the world and especially the holdings that exceed the restrictions. An important hedge against inflation that can affect the same or more than fiat. In a global economic system where most of the wealth flows in the hands of capitalists, you can govern yourself independently by holding Bitcoin. Besides, Bitcoin is one of the limited valuable resources that can provide you financial security in the future if you can manage its flow properly.

[Majestic-milf]

 Dem no dey tell blind man say food sweet. At this moment in time, nah person wey dey unwise wey go dey hold in naira becoos on a stead, the currency dey lose value. You fit start dey hold #500k since 2010 and for your mind you get money for bank wey you fit use do beta tin, but with the way things don cost, dat money fit no reach wetin you bin plan to use am do.
As e be d govt dey find every way possible to get funds wey dem go still embezzle. According to wetin I read, the Apex bank, CBN, dey tok say make banks remit funds from dormant accounts wey don dey upto 10years so dem fit put am for a dedicated account known as; The Unclaimed Balances Trust Fund Pool Account. This tok eh, plenty bobo full am. Nah just a glorified way of saying, your money don otilo...
 If them wan do am like this, since them also make comments about using these funds to invest in government securities and Treasury Bills, why the country still dey as e dey? The loot them recover from Abacha, how them use am? This country no go ever stop to surprise me.