Invest in Bitcoin: Our Monetary system is F*cked - This is not a drill

[Felicity_Tide]

I believe some of us here are familiar with the phrase "This is not a drill", especially when you are a fan of action movies. The monetary system of the country is already f*cked(pardon), which I guess we are all feeling it's effect in one way or the other, so when I say this is not a drill, you should be able to understand how bad it has become. Nigerian inflation rate keeps rising as weeks and months passes bye, and the innocent citizens are left to feel the hardship.

Printing of excess money into circulation is no longer a news, as it is literally practiced in some countries around the world(but nigeria done become oga for the matter). The purchasing power of our currency keeps getting weaker every day, with no possible solution to addressing it. When we even purchase a product today, let's say for N500, there is a higher probability that the product will increase in price, than to decrease (i.e, wen I buy something today for N500, 95% chance dey say the thing go increase tomorrow, while 5% chance dey say e go decrease).

Recently, I came across a news headline on the punch news paper, with a caption:

"SERAP sues CBN over failure to account for missing N100bn dirty notes"

https://punchng.com/serap-sues-cbn-over-failure-to-account-for-missing-n100bn-dirty-notes/

This news wasn't something I could easily ignore, because I understood the consequences such action would have in the current economy. Not been able to account for the whereabout of 100billion naira dirty notes in the past 17years, means one thing, and that is: those money are still in circulation. Ideally, old/dirty notes are retrieved by banks, as they consider them not good in appearance. The problem here is, since this are considered dirty notes, it means new ones have been printed overtime to serve as replacement.
But due to the level of corruption that has eaten up our monetary system, we don get additional 200bn naira notes in circulation, plus the new notes wey government still dey print till today. Just imagine the once wey we no dey aware of.

Situations like this are practically what causes more havoc to the economy, and also reduce the purchasing power of our money. There is no ideal fixed amount of money in circulation, as more money are pumped into circulation at any point in time.

Bitcoin on the other hand has it's monetary system/policy figured out by Satoshi himself. The hard cap of 21million(approximately) coin is a fixed value, which means when that entire amount(21M) enters into circulation, there is nothing further to be added. The Bitcoin network is transparent, decentralized and open, such that no single entity or individual can get Bitcoin from thin air. Though, the hard cap of 21million can be changed, but trust me when I say, it's not going to be an easy task, as it requires/takes collective effort from the entire Bitcoin community to make it happen, which means, more Bitcoin can't be added without a general community consensus.

There are some implementations in Bitcoin that has helped to increase scarcity, and also control inflation. This scarcity has helped in terms of price growth, which is clearly unlike our monetary policy that has nothing in place to control inflation.

Like I pointed out in my previous post: "there is nothing the masses can do about the devaluation of naira, so we need to opt for better options". Investing in Bitcoin, is probably one of the best advice anyone can get in tough times(hardship) like this. The monetary system/policy guiding Bitcoin is open and transparent, and no activity can be done behind the scene inorder to produce more of it, thereby causing inflation. Our Monetary system is f*cked - This is not a drill.

Happy New month to all fellow Nigerians.

It is advisable to always DYOR and make your own investment decisions. I am not to be blame for any action that comes afterwards, as this thread is clearly to air my opinion.

[Amphenomenon]

This is the reason why if you are saving instead of investing, you are definitely going to be caught in the constant loop of inflation which will not improve any life of living, Nigeria is in hell of hardship imagine having 500k naira in our bank account 2 years ago now what that money can give as significantly drop dishearteningly .
To be frank as a bitcoin investor, I should be more specific as a bitcoin HODLer your goal should be HODLing for at least 5 years, then you can really see the significant of how bitcoin is an edge against inflation especially in Nigeria where we have so much bad governance and leaders who cares nothing but for themselves which even when caught do get away with the law i.e no democracy

[Felicity_Tide]

This is the reason why if you are saving instead of investing, you are definitely going to be caught in the constant loop of inflation which will not improve any life of living, Nigeria is in hell of hardship imagine having 500k naira in our bank account 2 years ago now what that money can give as significantly drop dishearteningly .

An average Nigerian who gets a job of N500K will think problem has been solved, until he/she gets to the market to buy some things, before realizing that the money isn't doing enough. I am very sure that large percentag, understand the current situation the country is, but they have no idea about the "behind the scenes manipulations". The proposal to increase minimum wage was brought some weeks back, and I have been thinking, how all civil servants have been surviving, especially those in lower grades.

[Hewlet]

The sad reality with the Nigerian setting is that it's not even that our monitory system is already messed up or that the naira has lost its value. It's more of the fact that we don't even have good streams of income that will yield surpluses that could go into Bitcoin investment or that will prompt one to leave it in fiat.

Matter when de ground choke and e get plenty people when no even de reason savings or investment again. They just wan survive and all these devaluation of the Naira  and excessive printing of the naira na part of the problems when the make things to de more deficult for the common man. With the way the naira they devalue, almost anything you convert am to still make sense pass am. As e be like this eh, if you get like 100k just use am buy almost anything ranging from gadgets to even household stuff, e no go reach one year when the thing go almost become at least 110k to 120k. The only only difference between say as na second hand you go wan sell am, the value no go too make sense. But if you buy Bitcoin with the 100k as at January this year when Bitcoin been de around $38k come leave am till now, the profit obviously de better and as e no de get second hand value still shows how unique Bitcoin investment de. I wish say we fit tackle these economic crisis when de worry us like this so person fit get a good working environment when him fit take do him work gather better money so him Bitcoin investment pursuits fit go wella.

[Ruttoshi]

Nigeria problem is too big and the leaders don't even know how to tackle it because we have incompetent and corrupt leaders whose focus is to syphon our funds through any means possible. The problem of Nigeria is that we are a consuming country and that is what is affecting us. During Covid-19 US experts said that Nigeria is be in a high recession in time to come. I believe this is the time that we are in because our leaders don't consider producing but loves to take loans and print money carelessly. Imagine how much is in Emeiefele custody because he was the latest guy who printed our money and claim that the old ones are no longer in use. Where are the old ones he collect from banks last year before the presidential election.

We wey dey forum go fit buy bitcoin and invest in am small small but what about people wey dey outside forum wey no even get enough money to cop how them go solve the problem of inflation. No go use money wey you no need tomorrow buy bitcoin o, if not if you won sell am and bitcoin price dey down, na double loss because your Naira don devalue and your bitcoin come dip again.

[Amphenomenon]

This is the reason why if you are saving instead of investing, you are definitely going to be caught in the constant loop of inflation which will not improve any life of living, Nigeria is in hell of hardship imagine having 500k naira in our bank account 2 years ago now what that money can give as significantly drop dishearteningly .

An average Nigerian who gets a job of N500K will think problem has been solved, until he/she gets to the market to buy some things, before realizing that the money isn't doing enough. I am very sure that large percentag, understand the current situation the country is, but they have no idea about the "behind the scenes manipulations".

Ironic thing  is that no average Nigerians is earning 500k naira, an average Nigerian is earning less than 100k, i guess we can use the minimum wage (the old one) to estimate this since non civil servants are even paid less so the average Nigerian probably is earning less than 50k naira.

What I mean with having 500k naira in the bank is about those who where actually thinking about the feature some years back and work hell just to save up such amount, thinking they were planning ahead but sadly Nigeria made them like a fool.
Though every nations are currently facing issues of inflation some are worst than the others notably Nigeria due to bad governance and leaders.

Another reason while of these Nigerians especially civil servants often saved rather than invest in any online investment because of ponzi schemes, actually I have come to notice that they often put up to millions or hundreds of thousands on the ponzi schemes which sadly have traumatised them and made missed the real gem which is investing in bitcoin.

The proposal to increase minimum wage was brought some weeks back, and I have been thinking, how all civil servants have been surviving, especially those in lower grades.

They have been surviving by possibly having more than one jobs or doing anything legally/illegally just to get food on the table, ironically this is why cyber crime and every other crime is continually on the raise notably earlier this year when the nation faces Kidnapping epidemic, God help us.

[adultcrypto]

This is the reason why if you are saving instead of investing, you are definitely going to be caught in the constant loop of inflation which will not improve any life of living, Nigeria is in hell of hardship imagine having 500k naira in our bank account 2 years ago now what that money can give as significantly drop dishearteningly.

In other words, if you are saving in Naira as a Nigerian, you will be getting poorer with time. I was thinking of opening a Naira savings account for my kids who are still in nursery and primary schools but when I analyze what will become of the investment by the time to come of age and are ready to use such money for to establish a business or support their hustle, I was discouraged. I wanted to go for a dollar account but then I remember the challenge with accessing FX in Nigeria, that was when I gave up that idea and finally decided that bitcoin is the way.

So my bitcoin portfolio is fashioned in a way that a good part of it will be for them and I will teach them about bitcoin when they are matured to handle such information so they can take charge of everything earlr enough. 

[Obim34]

This is the reason why if you are saving instead of investing, you are definitely going to be caught in the constant loop of inflation which will not improve any life of living, Nigeria is in hell of hardship imagine having 500k naira in our bank account 2 years ago now what that money can give as significantly drop dishearteningly.

In other words, if you are saving in Naira as a Nigerian, you will be getting poorer with time. I was thinking of opening a Naira savings account for my kids who are still in nursery and primary schools but when I analyze what will become of the investment by the time to come of age and are ready to use such money for to establish a business or support their hustle, I was discouraged. I wanted to go for a dollar account but then I remember the challenge with accessing FX in Nigeria, that was when I gave up that idea and finally decided that bitcoin is the way.

So my bitcoin portfolio is fashioned in a way that a good part of it will be for them and I will teach them about bitcoin when they are matured to handle such information so they can take charge of everything earlr enough. 

Even in our worst, we should still be able to speak good on behalf of our country and the future. We can't stop to being Nigerian and we get to live in whatever circumstances the economy fall into, not forgetting that since we can't see the future should not then identify the future on the same fail system as of currently, change remains constant and Nigeria can experience one.

In essence, we can get to the perfect conclusion that saving/investing in Bitcoin is the right option, most especially when it is supposingly over a long period of time due to the effects of experiencing DIPs through the process of accumulating and even more profits out of how much time held. Moreover it is best to pass wealth to our children in assets other than local currency because an asset like Bitcoin has greater interest to appreciate in price over period of time.

[promise444c5]

This is the reason why if you are saving instead of investing, you are definitely going to be caught in the constant loop of inflation which will not improve any life of living, Nigeria is in hell of hardship imagine having 500k naira in our bank account 2 years ago now what that money can give as significantly drop dishearteningly .

An average Nigerian who gets a job of N500K will think problem has been solved, until he/she gets to the market to buy some things, before realizing that the money isn't doing enough. I am very sure that large percentag, understand the current situation the country is, but they have no idea about the "behind the scenes manipulations".

Ironic thing  is that no average Nigerians is earning 500k naira, an average Nigerian is earning less than 100k, i guess we can use the minimum wage (the old one) to estimate this since non civil servants are even paid less so the average Nigerian probably is earning less than 50k naira.

What I mean with having 500k naira in the bank is about those who where actually thinking about the feature some years back and work hell just to save up such amount, thinking they were planning ahead but sadly Nigeria made them like a fool.
Though every nations are currently facing issues of inflation some are worst than the others notably Nigeria due to bad governance and leaders.

Average job you say  that's so much to paying workers which really sucks and it's worth knowing that some masters degree aren't collecting upto that even though it's completely not worth it with the current situation of Naira and the high cost of hoods and services I  mean it's so horrible to deal with... an average Nigerian make less than 150k monthly  and that's even with a degree which shows that everything Is completely f*ked.There's nothing actually wrong with the pay if everything was stabilised but its  just that with the current situation 150k can sustain an average Nigerian for a month and the government doesn't care about it .

[Mr.suevie]

Nigeria problem is too big and the leaders don't even know how to tackle it because we have incompetent and corrupt leaders whose focus is to syphon our funds through any means possible. The problem of Nigeria is that we are a consuming country and that is what is affecting us. During Covid-19 US experts said that Nigeria is be in a high recession in time to come. I believe this is the time that we are in because our leaders don't consider producing but loves to take loans and print money carelessly. Imagine how much is in Emeiefele custody because he was the latest guy who printed our money and claim that the old ones are no longer in use. Where are the old ones he collect from banks last year before the presidential election.

We wey dey forum go fit buy bitcoin and invest in am small small but what about people wey dey outside forum wey no even get enough money to cop how them go solve the problem of inflation. No go use money wey you no need tomorrow buy bitcoin o, if not if you won sell am and bitcoin price dey down, na double loss because your Naira don devalue and your bitcoin come dip again.

Our country size isn't actually the problem sha, the major issues na corrupt leaders who aren't really idealistic and have short sited mentality about everything. Well as for the problem of buying coins that one na really big issue sha because the cost of living first for this country na really big problem and who never fight inflation finish and find wey to survive no go fit come gather money dey buy Bitcoin.

[Asiska02]

This is the reason why if you are saving instead of investing, you are definitely going to be caught in the constant loop of inflation which will not improve any life of living, Nigeria is in hell of hardship imagine having 500k naira in our bank account 2 years ago now what that money can give as significantly drop dishearteningly .

Another problem with wanting to invest your money instead of saving is putting it into an investment that would yield good income. With the state of economy in the nation, small business and big ones are complaining and some of them want to quit. Even the international business here are decrying because of the high task being imposed by the government for business owners and nothing to show for it as consumers are also facing lack of money to satisfy them for their needs. People are now feeding from hand to mouth, the situation has gotten that bad that you will prefer to be spending the money as they come and buy the necessity because if you don’t buy now, it’ll be inflated later and if you invest your money into business, government policies will not allow it to thrive.

To be frank as a bitcoin investor, I should be more specific as a bitcoin HODLer your goal should be HODLing for at least 5 years, then you can really see the significant of how bitcoin is an edge against inflation especially in Nigeria where we have so much bad governance and leaders who cares nothing but for themselves which even when caught do get away with the law i.e no democracy

Saving money in bitcoin as an HoDler really has its advantages but in the long run, you’ll not be able to account much for the savings, I mean the profit part of it when it comes to spending those money in Nigeria. Saving in bitcoin and converting to Naira is been determined by the Naira to Dollar rate. As dollar is appreciating, Naira is depreciating in value. So even when you’re converting your savings back to Naira to spend it would have depreciated and would make it look like you never made any profit whereby you don’t also incur any loss.

An average Nigerian who gets a job of N500K will think problem has been solved, until he/she gets to the market to buy some things, before realizing that the money isn't doing enough. I am very sure that large percentag, understand the current situation the country is, but they have no idea about the "behind the scenes manipulations". The proposal to increase minimum wage was brought some weeks back, and I have been thinking, how all civil servants have been surviving, especially those in lower grades.

Even with the current minimum wage, it’ll only reduce the hardship to some degree but it won’t alleviate it all or bring it back to the way it use to be before all this inflation sets in as a result of fuel subsidy removal by the president. If the price of what I’m buying the last time before inflation multiplied by 3 or more times and my minimum wage was just doubled, will that solve my problem? I don’t think so, only when inflation is taken care of the new minimum wage will go a long way to help people out of this current predicament.

[iBaba]

Average job you say  that's so much to paying workers which really sucks and it's worth knowing that some masters degree aren't collecting upto that even though it's completely not worth it with the current situation of Naira and the high cost of hoods and services I  mean it's so horrible to deal with... an average Nigerian make less than 150k monthly  and that's even with a degree which shows that everything Is completely f*ked.There's nothing actually wrong with the pay if everything was stabilised but its  just that with the current situation 150k can sustain an average Nigerian for a month and the government doesn't care about it .

Well, if we want to know what an average Nigerian truly earns then we should go by what the government Agency saddled with such responsibilities have to show us. I tried to look at the NBS and going by their own reports, what we have as an average salary of most Nigerian workers is between ₦60k and ₦80k. Although it is also important to take note of where the employees work, as in their workplace, their work location and employers, either as civil servants that is whether they work with the FG, states and local governments or in the private institutions.

the disparity between government civil servants alone is something that should baffle you. When you work with the FG, you are most likely to earn up to times two of someone that works for the state and likewise the local government. Within the FG, if you work with places like CBN, FIRS and so on you're paid times two of what someone else of same cadre will probably recieve in the Ministry.

Likewise the Private sector In Nigeria, when you work for bigger companies in big cities like Abuja Lagos and Portharcourt you have more salary to you than someone who work in a private company in the state who often are paid even below the former minimum wage.

Our country size isn't actually the problem sha, the major issues na corrupt leaders who aren't really idealistic and have short sited mentality about everything. Well as for the problem of buying coins that one na really big issue sha because the cost of living first for this country na really big problem and who never fight inflation finish and find wey to survive no go fit come gather money dey buy Bitcoin.

We have a worrisome growing number of population in Nigeria not because it is not good to grow in numbers but because of the fact that we cannot control the growth in the population of the country and do not even have the census. The last time I checked the census data in the National Population Commission, the only complete census data we have there is that of 2006 and since then, I don't think there's been anything substantial to follow. Every other thing na just guess work.

Upon this growing numbers and increased burden on our economy, our leaders no come serious on top their jobs and many no even know wetin take them there. We now have a populated bunch of ineffective leaders within the corridors of power killing our economy due to the unintelligent management of our financial resources in the country.

Another problem with wanting to invest your money instead of saving is putting it into an investment that would yield good income. With the state of economy in the nation, small business and big ones are complaining and some of them want to quit. Even the international business here are decrying because of the high task being imposed by the government for business owners and nothing to show for it as consumers are also facing lack of money to satisfy them for their needs. People are now feeding from hand to mouth, the situation has gotten that bad that you will prefer to be spending the money as they come and buy the necessity because if you don’t buy now, it’ll be inflated later and if you invest your money into business, government policies will not allow it to thrive.

For country wey many of us dey look for daily bread, na only very few us fit actually invest or save money now o. Na al these compounding issues na him result to the nationwide protest wey we they face today, as bitter as it is to experience these kind of nationwide protests, we witnessed how citizens came out en masses across the length and breath of the country to physically join the protest or to support it over the internet. Na as hunger take they people body na him push plenty people come out.

Aside from that, investing in cryptocurrency is one aspect everyone will be adviced to explore and in the event one does not have enough money to lump sum on crypto, DCA approach is a good alternative and it's actually more sustainable for late investors.

[Odohu]

Nigeria problem is too big and the leaders don't even know how to tackle it because we have incompetent and corrupt leaders whose focus is to syphon our funds through any means possible. The problem of Nigeria is that we are a consuming country and that is what is affecting us. During Covid-19 US experts said that Nigeria is be in a high recession in time to come. I believe this is the time that we are in because our leaders don't consider producing but loves to take loans and print money carelessly. Imagine how much is in Emeiefele custody because he was the latest guy who printed our money and claim that the old ones are no longer in use. Where are the old ones he collect from banks last year before the presidential election.

We wey dey forum go fit buy bitcoin and invest in am small small but what about people wey dey outside forum wey no even get enough money to cop how them go solve the problem of inflation. No go use money wey you no need tomorrow buy bitcoin o, if not if you won sell am and bitcoin price dey down, na double loss because your Naira don devalue and your bitcoin come dip again.

Our country size isn't actually the problem sha, the major issues na corrupt leaders who aren't really idealistic and have short sited mentality about everything. Well as for the problem of buying coins that one na really big issue sha because the cost of living first for this country na really big problem and who never fight inflation finish and find wey to survive no go fit come gather money dey buy Bitcoin.

I have settled down to look at the Nigerian system and how leadership has deteriorated from the the time of Obasanjo till date, one thing that is clear is that there is external forces that messes with our institutions and the very foundation of our country such that they decide who rule the country and who will play their script when they install him there. I read a documentary (I can't lay hands on the link now) about our external debt profile and how Obasanjo was able to make Nigeria debt free from over $30 billion total debt but quickly after Jonathan down to this moment we have been systematically entangled in a total debt of about $90 billion, a debt that three generations will not be able to pay. At present we use over 80% of our revenue for debt servicing which means we will continue to get poorer as a nation and that will make our currency more miserable.

The worst thing is that there is no help in sight, the present government is confused. Tinubu was foisted on us to kuku finish us, if not of that, how will someone scatter the economy of a country on the first day of being sworn in as president? He was asked by the powers that be to devalue our Naira, remove fuel subsidy and float the Naira, him never sit well think about the implication and put measures in place to tackle the effect, he rushed to implement what the external forces told him. There is this figurative expression that says that "IMF is the doctor that heals by killing the patient", it is now making sense to me because Tinubu followed IMF script of development and killed our economy whereas China did the opposite of their recommendation and are now one of the best economy in the world. The case of Nigeria is a hopeless one and anyone saving in Naira is doomed.

[Kelward]

Our Nigerian economy matter don pass drill, na very serious concern for everybody wey de for di country. Di way wey inflation take de for di country no be small matter, di standard of living for di country just de get worse everyday. Di value of naira de reduce everyday and di effect na constant increase in di prices of goods and services. Imagine wetin you buy for 1k last week, if you carry money to go buy di same item today, you no need to expect di price to remain wetin you buy am before, na di level of deterioration for di country dat.

Infact na cryptocurrency fit dis our economy because naira don become shitcurrency. Di only naira wey you suppose hold na di one wey you wan spend within a few days. As our economy be now na to save money for short term use inside stablecoins and invest di money for long term use inside Bitcoin. Bitcoin na im be di best alternative currency wey Nigerians suppose to hodl because inflation no de affect am, but you suppose to hodl am for long term to get ROI on your capital.

[Roseline492]

Even with the current minimum wage, it’ll only reduce the hardship to some degree but it won’t alleviate it all or bring it back to the way it use to be before all this inflation sets in as a result of fuel subsidy removal by the president.

Actually the new minimum wage did not even reduce anything because our system of government is so corrupt that they would set a rules but will not do anything to make it happen because already even after the implementation of the minimum wages private workers are still collecting there previous salaries they normally pay them, so what is even the need of implementing the minimum wage if all the private companies will not abide by it, so actually the way is going I think the reason for that minimum wage is because of government workers because they are the only ones it will help, secondly considering the high cost of things in the country the minimum wage is not even enough because if someone's monthly salary cannot afford a bag of rice with some money remaining that's a waste of time.

[Cryptoprincess101]

Investing in Bitcoin, is probably one of the best advice anyone can get in tough times(hardship) like this. The monetary system/policy guiding Bitcoin is open and transparent, and no activity can be done behind the scene inorder to produce more of it, thereby causing inflation. Our Monetary system is f*cked - This is not a drill.

Sure investing in Bitcoin is the best decision anyone can take now at this current economic situation of the world not even only about Nigeria because we all don't know what tomorrow will turn out to be if we will just wake up and things even get worser but with the current challenges the common man is facing now which is the inability to even sort out their daily needs due to the outrageous amount of food stuffs and other things of livelihood, it will really be difficult for majority of people to invest in Bitcoin because most people are interested in a project that they will start seeing the proceeds almost immediately instead of investing in Bitcoin that is for a long term before good profits can be achieved and bitcoin investment requires consistency before you can own a huge portfolio, so for now it is almost difficult for people because those that earns salaries, it's not even enough to take care of their families as some even enter into borrowing just to meet up life needs even while they're still earning. We are just in a very critical situation in this country right now I must say

[Obari]

Personally, I’m not a fan of reading a very long post like this but I had to take my time to go through this post because you already earned good merits on it and men I do agree with you that THIS IS NOT A DRILL.
normally this country matter don tire me but wetin man go do na, as at the time of when I Dey write this post I just talk with my elder bro and his friends and we been Dey talk about how fu*k the  Nigeria politics is and how messed and rigged the dye stem is and Dino was our major concern joined with wike and meh this country need help because I see no reason why a senator for several years go Dey brag with government money in a country where the masses Dey cry of hunger and frustration.

The issue of the country naira and monetary policy no be wetin to Dey talk again because at this point, we don already leave everything for God hand

[CryptopreneurBrainboss]

I happy as you make the thread about investing in Bitcoin and not putting all cryptocurrency into the picture because e get some crypto wey our Naira self better pass based on stability. Na only Bitcoin wey we suppose dey use as a safe haven against the Naira because the present government dun make everything worse although we no suppose dey blame only them because the collapsing of an economy no dey just happen overnight but na years of bad governance and lack of plans na wetin they kill the economy as we dey see so. We still get hopes to help the Naira and we fit only do this one during the next election. Make we no seat down for house but come out to vote a competent leader and not politicians with no brains

Investing in Bitcoin, is probably one of the best advice anyone can get in tough times(hardship) like this. The monetary system/policy guiding Bitcoin is open and transparent, and no activity can be done behind the scene inorder to produce more of it, thereby causing inflation. Our Monetary system is f*cked - This is not a drill.

We need to invest in Bitcoin, foreign currency and tangible assets. Basically we need to invest in assets for this country and stop to dey chase liability. If Bitcoin or altcoins give you money, go buy lands and establish yourself a business that can give you better cash flow to use guide life. Make we no dey depend on the government irrespective of who dey there because na only you fit help yourself and not the government, they can only support but won't be able to do everything for you. Our lifes dey our own hands, so make we make a useful use of our youthful years take arrange am well for tomorrow to better.

[Cryptomultiplier]

I happy as you make the thread about investing in Bitcoin and not putting all cryptocurrency into the picture because e get some crypto wey our Naira self better pass based on stability. Na only Bitcoin wey we suppose dey use as a safe haven against the Naira because the present government dun make everything worse although we no suppose dey blame only them because the collapsing of an economy no dey just happen overnight but na years of bad governance and lack of plans na wetin they kill the economy as we dey see so. We still get hopes to help the Naira and we fit only do this one during the next election. Make we no seat down for house but come out to vote a competent leader and not politicians with no brains

Investing in Bitcoin, is probably one of the best advice anyone can get in tough times(hardship) like this. The monetary system/policy guiding Bitcoin is open and transparent, and no activity can be done behind the scene inorder to produce more of it, thereby causing inflation. Our Monetary system is f*cked - This is not a drill.

We need to invest in Bitcoin, foreign currency and tangible assets. Basically we need to invest in assets for this country and stop to dey chase liability. If Bitcoin or altcoins give you money, go buy lands and establish yourself a business that can give you better cash flow to use guide life. Make we no dey depend on the government irrespective of who dey there because na only you fit help yourself and not the government, they can only support but won't be able to do everything for you. Our lifes dey our own hands, so make we make a useful use of our youthful years take arrange am well for tomorrow to better.

Na just the nail you hit for head so o, because Bitcoin dey more secured for investors wey value their sleep and peace of mind as compared to other cryptos wey fit pump just to get investors and then overnight e fit just dump and people money go just loss.

No be hype about Bitcoin investment being as good and a better option than real estate in many cases and even with the fact say many other countries they try wan return or adopt the gold standard to take support their economy, Bitcoin stand tall as a currency of value wey get better doings like gold and can easily be traded and these days even used as payment option upon completion of transactions, if the option they available.

[Dailyscript]

This is the reason why if you are saving instead of investing, you are definitely going to be caught in the constant loop of inflation which will not improve any life of living, Nigeria is in hell of hardship imagine having 500k naira in our bank account 2 years ago now what that money can give as significantly drop dishearteningly .
To be frank as a bitcoin investor, I should be more specific as a bitcoin HODLer your goal should be HODLing for at least 5 years, then you can really see the significant of how bitcoin is an edge against inflation especially in Nigeria where we have so much bad governance and leaders who cares nothing but for themselves which even when caught do get away with the law i.e no democracy

One mistake I will never make in life is saving of money. A friend asked me the other day, he said why is it that you do not like to save money at all you rather choose to start a business, buy and asset or invest in other things. It was true but my response is that savings has never done anything good to me, rather it has kept me in a continues loop in the same financial level I was. Buying asset you wont use or dont know how to operate looks foolish until the price of that asset becomes very expensive in one year or two years then you would know the good you have done for yourself. I started a business gradually by investing in it every week even when I know it will take me months to completely make the business fully functional.