The role of community and Local leaders in the, next phase of Bitcoin adoption.

[Olotu20]

From the day that Bitcoin was launched the adoption of Bitcoin has not and never been easy, due to certain factors which tends to discourage prospective Bitcoin enthusiast all over the world. Till today despite the huge success rate that, has been recorded about Bitcoin in terms of the rate of adoption there is still much ground to covered. Because in terms of the trust, alot of people are still skeptical when ever they are talking about Bitcoin.

Coming to developing countries such as Nigeria, even though Nigeria has been one of the countries with the highest number of people who owns Bitcoin, there is still a lot of work to do in terms of bringing Bitcoin to the every day Nigerian such as the woman selling in the market, the man farming and the cow breeder in the bush. Because looking at the people who are into crypto as a whole you will find out that majority of them are the young people.


To some certain members of the Nigerian society they still find it difficult, to come to terms with the concept of Bitcoin. This is where the role of community leaders comes in , by community leaders here I mean members of the society or even in the community that are respected and influential in their environment where they live. Just imagine the king of your village gathering the villagers and telling them about Bitcoin and what it really entails and what they stands to gain in the future.

I believe that community engagement is the next step that is needed in Nigeria when it comes to taking Bitcoin to the rest of the Nigerian society, we have gotten it right in getting those of us who may be discribed as those who has more presence on the Internet and social media spaces. Our attention should be gradually shifted to those who may not be necessarily fund of the Internet.

I believe that, town hall meetings and community engagement, meeting with traditional leaders, leaders of religious institutions will go a long way in the next phase of Bitcoin adoption in the country. Because looking at the Nigerian environment, it's very sensitive to religion be it Christian, Muslim and even traditional religion.

What is your view on this.

[Hypnotizer]

From the day that Bitcoin was launched the adoption of Bitcoin has not and never been easy, due to certain factors which tends to discourage prospective Bitcoin enthusiast all over the world. Till today despite the huge success rate that, has been recorded about Bitcoin in terms of the rate of adoption there is still much ground to covered. Because in terms of the trust, alot of people are still skeptical when ever they are talking about Bitcoin.

“Bitcoin is still in its early days” it’s just 17 years since when it was created and looking at how big it is right now, you’d know that it’s still doing well in terms of adoption.

Coming to developing countries such as Nigeria, even though Nigeria has been one of the countries with the highest number of people who owns Bitcoin, there is still a lot of work to do in terms of bringing Bitcoin to the every day Nigerian such as the woman selling in the market, the man farming and the cow breeder in the bush. Because looking at the people who are into crypto as a whole you will find out that majority of them are the young people.

Judging from the shift in the actual usage of bitcoin from a currency to an investment, I don’t think a “woman selling things in the market” would use bitcoin to accept payment because she definitely deals in small amounts of money and it is not easily feasible for someone in that caliber to accept payment in bitcoin.

Except if the economy supports that, if most merchants would accept payment in bitcoin especially the wholesalers which I don’t see happening not even in developed countries.

[Hewlet]

I believe that, town hall meetings and community engagement, meeting with traditional leaders, leaders of religious institutions will go a long way in the next phase of Bitcoin adoption in the country. Because looking at the Nigerian environment, it's very sensitive to religion be it Christian, Muslim and even traditional religion.

What is your view on this.

Those forms of grassroot mobilization does not really count that much in the extent that bitcoin adoption takes effect. At the grassroot, locals might not be all that technologically exposed to bitcoin and even if they are, the chance that they will get involved in it as much as the youth will do is smaller. As long as vying for an increased bitcoin adoption is concerned, those in the online community should be the target audience and not locals. and if the government for instance makes bitcoin are reserve and multiple government does same, it will affects bitcoin more positively than taking the gospel of bitcoin adoption to the religious space or townhalls.

[Doan9269]

I believe that, town hall meetings and community engagement, meeting with traditional leaders, leaders of religious institutions will go a long way in the next phase of Bitcoin adoption in the country. Because looking at the Nigerian environment, it's very sensitive to religion be it Christian, Muslim and even traditional religion.

Until I see the government having a good stand about bitcoin adoption in this country called Nigeria before I can make any further move to support or appear in public gathering as a bitcoin enthusiast, we should not put ourselves into danger because definitely those that know about what you do with definitely serve as vulnerability in pointing to the government about what we do, privacy is very much interesting on this regard and that is why we should learn from what is happening in France as there is high rate of wrench attack, we cannot just afford to completely appear to show passion for what we do when we don't even consider the risk on what is ahead.

[Moreno233]

I believe that, town hall meetings and community engagement, meeting with traditional leaders, leaders of religious institutions will go a long way in the next phase of Bitcoin adoption in the country. Because looking at the Nigerian environment, it's very sensitive to religion be it Christian, Muslim and even traditional religion.

What is your view on this.

I don't think Bitcoin needs this at this point in time that awareness is high because most leaders already know what Bitcoin can do just that they are afraid it will limit their powers. Apart from this fears, Bitcoin can make a lot of positive impacts on the economy in terms of job creation and revenue generation. If we compare these two things,  it becomes obvious that governments will gain more by providing the legal framework for Bitcoin to flourish rather than kicking against it or waiting for people to come preach anout Bitcoin to them.

[DubemIfedigbo001]

Coming to developing countries such as Nigeria, even though Nigeria has been one of the countries with the highest number of people who owns Bitcoin, there is still a lot of work to do in terms of bringing Bitcoin to the every day Nigerian such as the woman selling in the market, the man farming and the cow breeder in the bush. Because looking at the people who are into crypto as a whole you will find out that majority of them are the young people.

Nigeria is among the top 10 countries with the largest crypto adopters, so it can be argued they have high bitcoin holders, the main problem is slow technological advancement. Most people in the local markets don't even have android phones and others still see bitcoin as a scam based on past experiences with Ponzi schemes. Younger people are more inclined to taking risks and understand technology better, this is why they embrace bitcoin readily.

What is your view on this.
[/quote]
People need to be enlightened the more and encouraged to embrace bitcoin. NGO's like Rotract club can keep organizing meetups to further sensitize people on the advantages of using bitcoin, the decentralization and censorship resistance it presents as well as privacy and security measures to protect oneself from social engineering and physical robbery.

[Livingleged]

~spin
I don’t think a “woman selling things in the market” would use bitcoin to accept payment because she definitely deals in small amounts of money and it is not easily feasible for someone in that caliber to accept payment in bitcoin.

Except if the economy supports that, if most merchants would accept payment in bitcoin especially the wholesalers which I don’t see happening not even in developed countries.

Well, I think the main reason why the a woman selling in the market will not prefers bitcoin as a system of payment is because of it volatility, and not just because she’s a small scale trader. Imagine that she sold her good when the price of bitcoin was 64k and before her closing time the price of bitcoin drops to 61k what do you think will happen to her capital to profit ratio per sale? It will only make her to be in loss because she need to get new good to restock after selling and mind you she’s most likely not paying for the new goods in bitcoin so converting to a stable coin will affect her total funds. if she continues that way she will only end up losing all the time the bitcoin price drops.
Bitcoin payments can’t be used for daily payments and maintain profit always.

[Hypnotizer]

Well, I think the main reason why the a woman selling in the market will not prefers bitcoin as a system of payment is because of it volatility, and not just because she’s a small scale trader. Imagine that she sold her good when the price of bitcoin was 64k and before her closing time the price of bitcoin drops to 61k what do you think will happen to her capital to profit ratio per sale? It will only make her to be in loss because she need to get new good to restock after selling and mind you she’s most likely not paying for the new goods in bitcoin so converting to a stable coin will affect her total funds. if she continues that way she will only end up losing all the time the bitcoin price drops.
Bitcoin payments can’t be used for daily payments and maintain profit always.

This was my point but yours got deeper into it. It can be possible if the economy would support that by having a bitcoin circular economy where you don’t necessarily need to convert your bitcoin to any fiat before you can spend it.

Ideally even in this case, I still don’t think small scale businesses would start accepting bitcoins because it might still not favor them much.

At this point in time it is very unlikely for that to happen so the kinda adoption the OP is seeking is not possible by just involving local leaders and community leaders and even if community leaders are involved, it still wouldn’t work.

[Mhizlove]

I believe that the community leaders can help in creating awareness, but the message is supposed to focus on education and not convince everyone to invest. See if people have the understanding on how bitcoin is, how it works, how to avoid scams and also the risks involved. They will decide for themselves if it will be good for them. Okay you see places like Nigeria, practical examples and local language education can help even work more than alot if online compagins because alot if people do trust what they understand or have an understanding for and also what is related to their daily experience or lives.

[EluguHcman]

From the day that Bitcoin was launched the adoption of Bitcoin has not and never been easy, due to certain factors which tends to discourage prospective Bitcoin enthusiast all over the world. Till today despite the huge success rate that, has been recorded about Bitcoin in terms of the rate of adoption there is still much ground to covered. Because in terms of the trust, alot of people are still skeptical when ever they are talking about Bitcoin.

Take it or leave it, Bitcoin being a trust less and digital monetary technology will always catch skepticism on every newbies who is just adopted Bitcoin.
The doubt in the digitality and Decentralization will surely be there but in subsequent until you have to visualize the reality of the Bitcoin protocols, then you can trust it is real and reliable.

So far Bitcoin has gained larger global awareness than the rate of the adoptors. While we have also had very less global adoption rates does not seem much to be the problem of the network security but the unpredictability of the volatility because, majority adopting Bitcoin now are of the interest in the profitability with less number of users practically using it for payment of goods and services as it is also serves an alternative currency over fiats.

[Cryptomultiplier]

I believe that the community leaders can help in creating awareness, but the message is supposed to focus on education and not convince everyone to invest. See if people have the understanding on how bitcoin is, how it works, how to avoid scams and also the risks involved. They will decide for themselves if it will be good for them. Okay you see places like Nigeria, practical examples and local language education can help even work more than alot if online compagins because alot if people do trust what they understand or have an understanding for and also what is related to their daily experience or lives.

I love the concept of having our local leaders champion the cause of Bitcoin, but let's not forget that most religions in this country have their own cryptocurrency they support. For example, a church like Christ Embassy also known as LoveWorld Nation, led by Pastor Chris Oyakhilome, uses a dedicated digital currency called ESPEES.
​Introduced around 2021–2022.
This ESPEES is designed more as a centralized internal payment system and digital voucher system rather than a standard, publicly traded open-source cryptocurrency like Bitcoin or Ethereum.

We also have the Global Sharia-Certified & Purpose-Built Islamic Coins:
 Islamic Coin (ISLM): This is the native utility token of the HAQQ Network, an ethics-first, Proof-of-Stake blockchain. There's also ISLAMICOIN (ISLAMI) which is built on the Polygon network.

So, this proves that cryptocurrency isn't a new subject that our leaders aren't aware of, we just need more campaigns to enlighten and educate mostly those with less knowledge on the true cryptocurrency which is Bitcoin and how to incorporate it to fit their businesses and pension plans, not something they need to pay a broker to do, but something they can do on their own with internet enabled devices and the right knowledge.

[Agbamoni]

I believe that, town hall meetings and community engagement, meeting with traditional leaders, leaders of religious institutions will go a long way in the next phase of Bitcoin adoption in the country. Because looking at the Nigerian environment, it's very sensitive to religion be it Christian, Muslim and even traditional religion.

What is your view on this.

Are you serious?

In a meeting that involves the elders, I can't bring up the conversation of Bitcoin in there lol. Bitcoin has already gotten the adoption needed to spread around in Nigeria. Bitcoin does not literally need the Elders to engage or make it compulsory in town hall meetings. Bitcoin is discussed in seminars, crypto events, bootcamps, etc. It is discussed in higher institutions. The youth are the future. it should be discussed in places where the youths are gathered, not in a native meeting or in the church.