Do you know that bitcoin can help Nigeria?

[Mpamaegbu]

There are many more opportunities with bitcoin, what are your thoughts on this topic?

Na dat many opportunities wey dey for Bitcoin make many of us nor really get time for dis insensitive govment wey nor tackle high rate of unemployment we dey kontry. Na dat opportunities wey make us get dat ngabasi to dey fit garri awasefs and take care of dependants as we lock in here. Na dat opportunities make so many of use fit get interest go full throttle into online trading. Mehn, dis generation really get soft landing.

The problem of this coury hasn't been money because we have that or have thing's that can bring that in abundance but we lack proper management ability and that's because the wrong people always find themselves in that position and the smart ones with the skills can't get there because of corruption.

Nor be lie u talk put there. Money na d least of Naija problem. The money dey. E just be sey na mostly thieves dem dey mount for awa economy. Na few people go still loot am go.

Bitcoin adoption a support and watch how it changes the life of Nigerians without them doing anything.

Gbam!

[PremiumcryptoHub]

The Nigerian government is not fully in support of bitcoin and has not integrated it into it's futuristic plans yet, so it's really of no importance discussing the importance and value bitcoin could bring to the  Nigerian economy when our leaders are not cooperative.

Bitcoin has made many individuals millionaires and are still making a lot of people money. It's a digital asset that is not controlled by the Nigerian economy, not controlled by inflation and could be considered an investment for long term, that's something the government fears.

The Nigerian government does not fully support Bitcoin and the significant contribution that Bitcoin can make to the country’s economy is not their concern. However, Bitcoin can help to address the country’s economic crisis and achieve financial independence for the common man, and I even think that many young people can choose this currency as an alternative to the fragile economic situation in the country.

I'm mentioning the main areas in which Bitcoin can help the Nigerian economy, such as protecting our country from inflation and the depreciation of the naira, easy international remittances or receipt of money and avoiding foreign exchange restrictions, and even employment and financial inclusion.

[Cleanshit]

There are many more opportunities with bitcoin, what are your thoughts on this topic?

Na dat many opportunities wey dey for Bitcoin make many of us nor really get time for dis insensitive govment wey nor tackle high rate of unemployment we dey kontry. Na dat opportunities wey make us get dat ngabasi to dey fit garri awasefs and take care of dependants as we lock in here. Na dat opportunities make so many of use fit get interest go full throttle into online trading. Mehn, dis generation really get soft landing.

The problem of this coury hasn't been money because we have that or have thing's that can bring that in abundance but we lack proper management ability and that's because the wrong people always find themselves in that position and the smart ones with the skills can't get there because of corruption.

Nor be lie u talk put there. Money na d least of Naija problem. The money dey. E just be sey na mostly thieves dem dey mount for awa economy. Na few people go still loot am go.

Bitcoin adoption a support and watch how it changes the life of Nigerians without them doing anything.

Gbam!

No doubt Bitcoin creates opportunities, but also I won’t say we should see it also as a complete solution to Nigerian problems, due to having the access to Bitcoin does not automatically gives jobs or improve a person financial situation.

The best part is just how we make use of this opportunity around it, giving an example someone learning Bitcoin trading and development with a proper risk management, even content creating or to provides services to those using Bitcoin. This can create real income opportunities most especially for us young people, but all this without a proper education and skills many users will see Bitcoin as somthing to speculate than somthing thy can build on with.

[Mpamaegbu]

~

No doubt Bitcoin creates opportunities, but also I won’t say we should see it also as a complete solution to Nigerian problems, due to having the access to Bitcoin does not automatically gives jobs or improve a person financial situation.

Nope, I nor even wan worry my already congested head wit how d thing go favour Naija bc I know sey awa politicians go bastardize any progress wey we suppose make from it. Na individual benefits be my concern.

Again, awa people (especially those wey dey here) go don understand how a bit easy dis crypto stuff don make life bi for peeps. So, we suppose find more lucrative online stuff to add to awa hustle. Naija govment only dey concerned about dem pockets. Create Bitcoin reserve, wan snake go swallow am and na there d matta go end once d persin paddy dey influential for Aso Rock.

[Dareo]

There are many more opportunities with bitcoin, what are your thoughts on this topic?

But honestly it will not be very easy for our country to have a government run Bitcoin reserve or mining. First of all if we talk about mining, Nigeria already has an extreme electricity crisis. There are many doubts about how realistic it will be to run a large state run mining farm where the common people do not get proper electricity, but yes they have a great opportunity to mine privately by utilizing the gas that is burned and wasted from our oil mines. Secondly, the biggest obstacle to government reserves is corruption. The Bitcoin blockchain is completely transparent, meaning everyone can see where and how much money is going, So many leaders may not want the common people to be able to track the movement of their country's funds so easily.

[MorganaX]

There are many more opportunities with bitcoin, what are your thoughts on this topic?

But honestly it will not be very easy for our country to have a government run Bitcoin reserve or mining. First of all if we talk about mining, Nigeria already has an extreme electricity crisis. There are many doubts about how realistic it will be to run a large state run mining farm where the common people do not get proper electricity, but yes they have a great opportunity to mine privately by utilizing the gas that is burned and wasted from our oil mines. Secondly, the biggest obstacle to government reserves is corruption. The Bitcoin blockchain is completely transparent, meaning everyone can see where and how much money is going. So many leaders may not want the common people to be able to track the movement of their country's funds so easily.

Before we talk about anything in this country, the most important thing that needs to be done is to set up a system where corruption no longer eats the heart of those in power, because nothing can actually work, even if they start it, if that big problem is not solved or eradicated. Nigeria has so many opportunities that would be possible in so many sectors and many areas, but nothing is gonna work out if the major problem is not handled so no need even discuss it

[Pi-network314159]

no be say Nigeria no fit do am, because Dem dey very rich with plenty mineral resources, the allocation Dem dey get per day or annually no be small thing and e dey make Dem no reason Bitcoin reserve as anything, had it been say we no get many sources of income expecialy crude oil and agriculture products wey dey generate income steady maybe we for don dey reason am. Another thing wey dey dere be say we fit do well for this country even say we no get Bitcoin reserve. if the government do wetting dem sopos do, we for just develop but greediness and selfishness wey Dem get naim dey make we come dey suffer like people wey no get money for we country. And as e be so, even if the government invest for Bitcoin as national reserve and Bitcoin volatility come increase, na Dem go still write budget wey Dem go use the money for, and the funny thing be say the budget Dem use our reserve for you no go see am, Dem go shear the money as usual. Nigeria just too spoil if not with or without investing on Bitcoin we sopos dey alright. Maybe na we for dey invest individually instead of public or national investment.

[ejikeme24]

Before we talk about anything in this country, the most important thing that needs to be done is to set up a system where corruption no longer eats the heart of those in power, because nothing can actually work, even if they start it, if that big problem is not solved or eradicated. Nigeria has so many opportunities that would be possible in so many sectors and many areas, but nothing is gonna work out if the major problem is not handled so no need even discuss it

You know it's almost impossible to chase corruption out from the country completely. Imagine something that has been happening right from onset and you think we can put an end to it now ? Nah, it's not possible. I'm literally getting fed up about this whole stuff, because I have been waiting for so long to see if the government could change at least in some areas as I don't expect them to change completely because it's not possible. But instead they are still spoiling the more that is why I frequently advice folks that whatever thing you know you can do to save yourself in the future you better do and stop waiting for the government to give you permission or even adopt it before you start investing in bitcoin.

[CryptopreneurBrainboss]

The problem of this coury hasn't been money because we have that or have thing's that can bring that in abundance but we lack proper management ability and that's because the wrong people always find themselves in that position and the smart ones with the skills can't get there because of corruption.

Nor be lie u talk put there. Money na d least of Naija problem. The money dey. E just be sey na mostly thieves dem dey mount for awa economy. Na few people go still loot am go.

I swear the money wey dey this country no be small if the government just decide to share the money among us person go dey live life well without working there has been cases of trillion of dollars being recovered and yet no good use of the money has been recorded we have the politicians stealing money always but they can't even spend the money and that is why we have to keep fighting the corruption in the government so our people can have the best of living. Alot can be achieved if transparency becomes our motor in the country but before that happens the people can't trust the government yet.

[Obulis]

Do you honestly think that this is a good idea? Not to look down on Bitcoin, but because of diminishing return, Bitcoin will never do as good as it did in the past, so stop this way of thinking.

We have abundance of natural, and human resources to exploit and become better economically. But even though we have a shitty economy, we're in the top 50 countries with the highest Gross Domestic Profit(GDP), adn 3rd in Africa. So we don't need to invest in Bitcoin to have a successful/large economy.

This your mentality is exactly the reason why Nigeria is where it is today(stagnant) this is what our government think that we have enough natural resources. Can you please explain to me why a country that has enough natural resources stll go about borrowing almost every year? Or do we have audio natural resources? You seem to not even know how bitcoin operate or function as regard to it capabilities even after your stay in a bitcoin forum all these while.
I seriously believe bitcoin will do well in the future you don't need to be a magician to tell that, it simply economics limited supply with high demand equals scarcity which then results to price increment. Bitcoin has great potential to do well and it can help strengthen our economy if we adopt it.

Honestly, Emma has some questions to answer consigning the perspective dropped here because that kind of mentality just you said at grace can't help a nation to talk of Nigeria that is in tireless need of help.

Is it that all the countries that has Bitcoin reserve doesn't have natural resources?
Does this idea of Nigeria having Bitcoin reserve mean that that will be the only investment of the nation?
Of what positive effects is this position as per GDP on Nigeria?
What actually makes the idea of Nigeria having Bitcoin reserve a bad idea?

Natural resources that is not having a natural effects on the people is like not having natural resources because somehow Nigeria is like a country without those resources that they have.
Nigeria making effective and accountable use of her natural resources and leveraging on the positive impacts Bitcoin reserve can have on the nation is a good idea.

[Showlove01]

I swear the money wey dey this country no be small if the government just decide to share the money among us person go dey live life well without working there has been cases of trillion of dollars being recovered and yet no good use of the money has been recorded we have the politicians stealing money always but they can't even spend the money and that is why we have to keep fighting the corruption in the government so our people can have the best of living. Alot can be achieved if transparency becomes our motor in the country but before that happens the people can't trust the government yet.

You are absolutely correct,  it is as if the system of government is getting worst as years goes by because if we check clearly the previous government was better than the current and the past before the previous was also better than the previous so clearly it is getting worst like I said earlier. However, the only remedy I can think of is for the youth to take over the government even though we can not tell how good someone is until they are given power but I believe it will be better than this we are experiencing.