BTC fit be safe haven in case global conflict damage traditional money systems.

[Faazs]

We sabi as how our currency sabi loose value,, what if global conflict where fit scatter traditional banking systems happen, and conflicts like dat go further destroy the value of the currency, but with Bitcoin e go dey different as we sabi say the coin they limited to 21 million coins and so inflation knw fit worry am unlike the naira and so any money kept their go dey sharp in instance of war occuring where the naira go just dey fall.

And again knw restrictions,we sabi say if global conflict occur government fit place restrictions on traditional financial systems but with Bitcoin nothing like that ur money go dey cross borders and without limits or restrictions.

Plus our money dey held digitally and we fit carry am go anywhere we want to, nah advantage where holding Bitcoin fit give person in case something like this occurs , though we are not praying for it ,but we have to be prepared if something like dis come go happen.

But some challenges still dey sha like , internet fit shutdown, price fit dey volatile  and also government restrictions on crypto. With these challenges shey Bitcoin fit help us in case a problem like this ever comes to light.

[Pablo-wood]

How we go do volatility? How we go do inconsistency in exchange rate. Many persons go dey run at loss on a daily base. Bitcoin get fix supply, e get good prospects which I go recommend for investment but you see as legal tender, hmm many business fit collapse or most businesses go wan hyke prices of commodities just to balance up with the volatility. Imagine you buy commodity when price of 1btc to USD na $67k and when you wan sell price drop to $65k first the business dey at loss.

The only way e fit balance na if BTC go become en own base currency such that e no dey derive equivalent from fiat (USD) that way things fit balance and business go smile as often as possible as their business dey go on.

[Akaenyi]

Bitcoin is a safe haven for everybody who wants total privacy and freedom for their money both in peace time and where there are conflicts and wars. I heard somewhere that the sudden uptrend in price last week after price was struggling to breakthrough $70k was because Iranians were liquidating their assets and buying Bitcoin. It shows that in times of wars and crisis in a country or a global downturn people can turn to Bitcoin which is a decentralized currency which no country or economy can control.

The only disadvantage that I see if a local crisis were to occur in a country or a global war is internet shutdown, we need internet connection to send and receive Bitcoin. If buyers and sellers of Bitcoin doesn't find alternative means to do their transactions they will be forced to look for safe locations where internet will be available.

[Solodoski]

Without the global conflict, our Naira already loses value in the process of stabilizing it The traditional monetary system is not as effective as before. If Nigerian do not partake in geopolitics, we wont have a problem in how the the traditional system fully operate. What may be of concern is inflation. The price of good and services we import will increase significantly, the naira will lose value more. We already dy experience price they increase wel wel, starting with fuel price. Our president done already shift to solar energy for Asorock. E no need the national grid again.

[Ambatman]

When you said internet shutdown I just recalled the situation in Iran with their net shutdown
And volatility remains an issue
Hence why many prefer Gold over Bitcoin during such crisis.
Bitcoin for long run but short run not really
Though historically Bitcoin does perform well during crisis.

[Jubilee58]

Keeping our money in Bitcoin is still the best, if there is global conflict, Bitcoin price can be volatile and can also fluctuate rapidly, but this only for a moment, it can also bounce back very sharply.
In the case of the fiat currency, government policies will heavily impact on the fiat currency, and if the government policy is not favourable, inflation will possibly take over , making the fiat currency to loose value drastically.
Bitcoin is a safe haven, bitcoin have encountered global adversity and turmoil and yet, Bitcoin survived. So, Bitcoin is capable of reviving once a global conflict is over.

[Jaycoinz]

Keeping our money in Bitcoin is still the best, if there is global conflict, Bitcoin price can be volatile and can also fluctuate rapidly, but this only for a moment, it can also bounce back very sharply.
In the case of the fiat currency, government policies will heavily impact on the fiat currency, and if the government policy is not favourable, inflation will possibly take over , making the fiat currency to loose value drastically.
Bitcoin is a safe haven, bitcoin have encountered global adversity and turmoil and yet, Bitcoin survived. So, Bitcoin is capable of reviving once a global conflict is over.

I don't know why people are panicking about the decline in the price drop in Bitcoin because all this sort of things are actually normal and I believe it's not the first time and it won't be the last, this sort of decline have been happening and it's just the process although not everyone will the patience and time for the price to get back in the bull market again because it takes a very long time like the  4 years circle but the fact remains the same that the price will eventually fly again so it's just a matter of patience and resilient.

[Wiwo]

When you said internet shutdown I just recalled the situation in Iran with their net shutdown
And volatility remains an issue
Hence why many prefer Gold over Bitcoin during such crisis.
Bitcoin for long run but short run not really
Though historically Bitcoin does perform well during crisis.

Just wondering how people be able to exchange Gold during war times and.
What make gold to be the best choice in time of war?

Anything that affects the internet, there will be possibility that the entire financial market is affected including gold, that is why it call war times.

Volitilities is something that we already aware of and can be effectively managed if you combine bitcoin and stable coins as part of your investment and spending founds.

[DubemIfedigbo001]

But some challenges still dey sha like , internet fit shutdown, price fit dey volatile  and also government restrictions on crypto. With these challenges shey Bitcoin fit help us in case a problem like this ever comes to light.

Although I don't see any global crises that would totally destroy tradfi systems a long as there is still government,. There would be a functioning local currency and financial system, even though i made by struggling. If I am to be playing along with your scenario, there is another problem, and a major one which is theft, especially in a country like ours, thieves would naturally target anyone who come to stores to make purchases because it is obvious what they are buying with, same with people who would be relocating or travelling. It is true that you can carry your seed phrases around but the greater risk is if it would make it to your destination with you, that's assuming the internet is not shut down

[Zaguru12]

How we go do volatility? How we go do inconsistency in exchange rate. Many persons go dey run at loss on a daily base. Bitcoin get fix supply, e get good prospects which I go recommend for investment but you see as legal tender, hmm many business fit collapse or most businesses go wan hyke prices of commodities just to balance up with the volatility. Imagine you buy commodity when price of 1btc to USD na $67k and when you wan sell price drop to $65k first the business dey at loss.

The only way e fit balance na if BTC go become en own base currency such that e no dey derive equivalent from fiat (USD) that way things fit balance and business go smile as often as possible as their business dey go on.

I think this is the most interesting part that people need to understand as long bitcoin is it usually used as equivalent to certain currency then it will be the perfect currency for exchange for example a thing costs 1 bitcoin in Nigeria and also same commodity is valued as one bitcoin in another country and not that the commodity is another currency and then the equivalent is taken in bitcoin.

Using bitcoin as a legal tender doesn’t mean you should avoid the use of fiat currency totally you use it as an alternative because I don’t actually think there is a law that governs the use of just one legal tender at a time.