Topic: A Bitcoin Village in Nigeria - Creating Bitcoin Adoption Without The Government. (Read 281 times)
August 11, 2022, 06:54:03 PM
Doesn't this mean that the people's trust in the government and the country's fiat money is really decreasing? This time, their focus was to survive. I've read news where hunger is everywhere, even they don't have money or can't buy anything. With Bitcoin, can't this be one of the things that can at least help lighten their load? I hope the government doesn't ban it, but instead supports it. At least, they can survive because of the Bitcoin. And I applaud that in the midst of their condition, they are still willing to learn about Bitcoin and make a very influential adoption
August 11, 2022, 04:40:54 PM
Quite Encouraging , If the Nigerian government and the Central Bank will realize the urge from its citizens to play full part in this revolution of money (Bitcoin) and take a U turn in their decision on suspending Bitcoin and cryptocurrency transactions in Nigeria, by now Nigeria would have had numerous Numbers of Interesting projects on Bitcoin more than this.The world is gradually moving into a different economy (Bitcoin) and the government should have a rethink ,embrace and support this kind of projects done by individuals.
This is very interesting .but Governments of every country always think that since Bitcoin is a decentralized currency, there is a possibility of money laundering through it. And it is possible to do many illegal activities through it with the eyes of the government. But on the other hand, Bitcoin is playing a major role in strengthening the country's finances. so i appraised for The Nigerian bitcoin Village.there will always be negative thoughts towards bitcoin or crypto in general, but if they have good intentions why they created such village, people will slowly understand that bitcoin is not all about money laundering or illegal activities, because it is not. people need education to understand more about this market. the more info they know, the less negative thoughts they will have.
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August 11, 2022, 02:54:49 PM
Before now, I've had this believe or rather, inner thought that Bitcoin can never see or experience true adoption without the help of the government, my recent discovery however, has changed that line of thought.
I like the concept put together by the team that created the Bitcoin village but it is just like a P2P forum of Bitcoin trading in real life which i believe can also be dangerous for participants if good security services are not put in place.Having said that, the word remains the same. Bitcoin can never experience true adoption without government support.
August 11, 2022, 12:05:22 PM
Well, I have been to Nigeria for work... and I can tell you.. it's the wild west out there. A lot of the people are very good people, but there are a lot of bad characters out there too. 
A country with a oil reserve of roughly 37.046 billion barrels ...should not have such a high gap between the super rich and poor, but corrupt government officials are stuffing their pockets and spreading that wealth to their family and friends.
One thing I can say is this.... those guys are excellent entrepreneurs .... and they make money out of virtually everything.
A country with a oil reserve of roughly 37.046 billion barrels ...should not have such a high gap between the super rich and poor, but corrupt government officials are stuffing their pockets and spreading that wealth to their family and friends.
One thing I can say is this.... those guys are excellent entrepreneurs .... and they make money out of virtually everything.
August 11, 2022, 11:47:34 AM
Quite Encouraging , If the Nigerian government and the Central Bank will realize the urge from its citizens to play full part in this revolution of money (Bitcoin) and take a U turn in their decision on suspending Bitcoin and cryptocurrency transactions in Nigeria, by now Nigeria would have had numerous Numbers of Interesting projects on Bitcoin more than this.The world is gradually moving into a different economy (Bitcoin) and the government should have a rethink ,embrace and support this kind of projects done by individuals.
This is very interesting .but Governments of every country always think that since Bitcoin is a decentralized currency, there is a possibility of money laundering through it. And it is possible to do many illegal activities through it with the eyes of the government. But on the other hand, Bitcoin is playing a major role in strengthening the country's finances. so i appraised for The Nigerian bitcoin Village. 
August 11, 2022, 11:20:49 AM
Quite Encouraging , If the Nigerian government and the Central Bank will realize the urge from its citizens to play full part in this revolution of money (Bitcoin) and take a U turn in their decision on suspending Bitcoin and cryptocurrency transactions in Nigeria, by now Nigeria would have had numerous Numbers of Interesting projects on Bitcoin more than this.The world is gradually moving into a different economy (Bitcoin) and the government should have a rethink ,embrace and support this kind of projects done by individuals.
August 11, 2022, 11:01:06 AM
Nigeria is one of the Bitcoin savvy nation in the world, a the people there have great interest in Bitcoin, according to binance, Nigerians are among the countries with the highest transaction volume on p2p.
Very proud of my country and the large contribution we the citizens have made towards the growth and development of crypto generally regardless of our government trying to suffocate our efforts through unfavorable policies.However, as other members have noted, I am also interested in how the whole project will be realized at all, considering the status that Bitcoin has in Nigeria, unless there is some way to realize the whole thing without breaking the law.
I believe that the strong restrictions the country has set again bitcoins is in no way permanent and will soon be put to rest when a new government that is more reasonable and friendly to new innovations get into power. This is perhaps what the people who started the project have reasoned. Bitcoin has the ability to outlive any government in power, so it will be unwise to not to plan for the distant future of crypto, because of a temporary setback as an unfavorable policy. So it is proper to keep getting the bitcoin village ready in anticipation of a better government that will have nothing against it. August 11, 2022, 10:55:13 AM
-snip-
Now Imagine if all Bitcoiners all over different parts of the world who can afford it, take up initiatives as this, to build Bitcoin cities in their localities, Bitcoin Adoption will be easily secured, even without governments making it a legal tender.
Actually many people want to do it, I used to receive payments to top up mobile phone credit balances with paypal long time ago. after running for 6 monts, I know if using paypal for payments is prohibited in my country, then i have a plan to sell the credit balance with bitcoin. However, I also found regulations that prohibit the use of currency for buying/selling with foreign currency or crypto. Of course we can sell it behind government an law. But, if we get caught, it would be more bad for me, could be getting jailed, unlike accepting Bitcoin as a work payment with overseas companies, because this is allowed. you can receive payments with crypto, as far as you don't using it to buy goods/foods or anything it will be safe. that's why communities in most countries don't act like the initiators in Nigeria. because they are trying to keeping away from breaking the rules in the country. Now Imagine if all Bitcoiners all over different parts of the world who can afford it, take up initiatives as this, to build Bitcoin cities in their localities, Bitcoin Adoption will be easily secured, even without governments making it a legal tender.
August 11, 2022, 10:40:36 AM
If I am not wrong, I believe in the beginning of this year, Nigerian Central Bank has banned bitcoin from the country. If this is true and if an entrepreneur is building a village on Nigerian soil which will be solely powered by bitcoin, might create issues with administration.
It's like ignoring a national order completely and going on an financial adventure withoit thinking about the potential penalty it may bring.
While such initiatives are welcome, but I am afraid of the future repercussion.
It's like ignoring a national order completely and going on an financial adventure withoit thinking about the potential penalty it may bring.
While such initiatives are welcome, but I am afraid of the future repercussion.
There may be international organization like IMF that will simply make Nigerian village stop. El Salvador was tried but they won't mind. I hope initiatives like this spreads throughout African countries, there are several more countries in extreme poverty like Zimbabwe.
Government leaders in African countries are often corrupt and will likely listen to outside influence. Lets say Financial Action Task Force (FATF) tells them to prevent BTC adoption, a corrupt leader will do so.
August 11, 2022, 10:21:58 AM
Now Imagine if all Bitcoiners all over different parts of the world who can afford it, take up initiatives as this, to build Bitcoin cities in their localities, Bitcoin Adoption will be easily secured, even without governments making it a legal tender.
Nigerian government felt that Bitcoin and other cryptocurrencies were some of the reasons why Nigeria was facing security and economic challenges. But they have really discovered that their speculations were wrong to a large extent. This project is aimed at actualizing what nations such as El Salvador and Central African Republic are doing in a small or localized form. If this project is replicated in other cities of the world, Bitcoin would receive more coverage and publicity. This project is attracting development to a local community and only an insensitive government would deprive its citizen of such vital developmental opportunity. 
August 11, 2022, 10:19:49 AM
I admire countries were people are self-organizing well and aren't waiting for the state to do everything for them. My country is also like that: our state institutions are often weak and corrupt, but our civil society is amazing, and there are enough people to significantly improve the quality of lives of others by organizing together and pulling some things off which the state remains unable to do or unwilling to do. Nigeria, it seems to me, is also like that, and there's a strong focus on the entrepreneur side of these things in Nigeria, so there are various enthusiastic crypto initiatives. It's crucial for a developing country to have a good society like that, it really is inspiring and shows potential. I'm happy there are such people in Nigeria, working on projects and trying to improve the economy.
What's important, though, is ensuring donation spending transparency because suspicion regarding corruption, especially in developing countries, is well-founded.
What's important, though, is ensuring donation spending transparency because suspicion regarding corruption, especially in developing countries, is well-founded.
August 11, 2022, 10:08:38 AM
Nigeria is one of the Bitcoin savvy nation in the world, a the people there have great interest in Bitcoin, according to binance, Nigerians are among the countries with the highest transaction volume on p2p. Nigeria can have a Bitcoin village, El Salvador made Bitcoin a legal tender Nigeria can do the same I believe they have the resources to do it.
August 11, 2022, 10:00:05 AM
It is very imagine . Nigeria has developed a lot towards cryptocurrency which is really incredible. And I think Nigeria's economy will go a long way because of that. Although happening without the government, these bitcoins are boosting the Nigerian economy
There are many other countries like Nigeria where transactions are done through Bitcoin. However, Nigeria is ahead in terms of economy. I don't know if Bitcoin is banned in Nigeria or not. They use Bitcoin even though Bitcoin is banned in many countries. They are far ahead using Bitcoin. Bitcoin has given many countries a lot of power financially. Bitcoin seems to be used by everyone now. 
August 11, 2022, 08:59:42 AM
I watched the video and I can say that it is about a project that somehow wants to copy the Bitcoin beach in El Salvador (according to the person from the video), although from what you can see in the video it looks very modest at first and not too big in the sense that can accommodate a large number of people. Perhaps this is also the reason why the deadline for the completion of construction is so short.
However, as other members have noted, I am also interested in how the whole project will be realized at all, considering the status that Bitcoin has in Nigeria, unless there is some way to realize the whole thing without breaking the law. However, I believe that no one would do a project like this without being aware of all possible limitations, so I hope that the project will experience success.
Maybe projects like this can positively influence the government and central bank to change or soften their stance when it comes to Bitcoin.
However, as other members have noted, I am also interested in how the whole project will be realized at all, considering the status that Bitcoin has in Nigeria, unless there is some way to realize the whole thing without breaking the law. However, I believe that no one would do a project like this without being aware of all possible limitations, so I hope that the project will experience success.
Maybe projects like this can positively influence the government and central bank to change or soften their stance when it comes to Bitcoin.
August 11, 2022, 08:58:44 AM
It is very imagine . Nigeria has developed a lot towards cryptocurrency which is really incredible. And I think Nigeria's economy will go a long way because of that. Although happening without the government, these bitcoins are boosting the Nigerian economy
August 11, 2022, 08:51:07 AM
If I am not wrong, I believe in the beginning of this year, Nigerian Central Bank has banned bitcoin from the country.
You are a bit wrong, it has not been banned fully in the country, this is what a google search about 'if bitcoin is banned in Nigeria' says:Quote
It’s been more than a year since the Central Bank of Nigeria (CBN) issued a circular to banks and other financial institutions prohibiting cryptocurrency transactions and facilitating payments for crypto exchanges.
The ban is on their banks and financial institutions, they are banned from executing crypto transactions, but bitcoin is legal in Nigeria. On the topic: in my opinion, a bitcoin village or hub as we normally hear them will be more useful in a country that has probably made bitcoin a legal tender, like El Salvador, or in a country that places where bitcoin is spent are in numbers, and people are already familiar with paying or buying something with bitcoin; but in a place where people just trade bitcoin for profit, or hold it for returns, and are not used to spending it, i don't know if a bitcoin village will be successful there or attract too many persons. 
August 11, 2022, 08:42:17 AM
If I am not wrong, I believe in the beginning of this year, Nigerian Central Bank has banned bitcoin from the country. If this is true and if an entrepreneur is building a village on Nigerian soil which will be solely powered by bitcoin, might create issues with administration.
It's like ignoring a national order completely and going on an financial adventure withoit thinking about the potential penalty it may bring.
While such initiatives are welcome, but I am afraid of the future repercussion.
It's like ignoring a national order completely and going on an financial adventure withoit thinking about the potential penalty it may bring.
While such initiatives are welcome, but I am afraid of the future repercussion.
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August 11, 2022, 08:33:47 AM
Now Imagine if all Bitcoiners all over different parts of the world who can afford it, take up initiatives as this, to build Bitcoin cities in their localities, Bitcoin Adoption will be easily secured, even without governments making it a legal tender.
I am not sure how much government influence this village has and what are the local laws for Nigeria but if you talk generally about the countries it is not easy to declare any city as a bitcoin city when the government has not allowed bitcoin to be used officially in the country.
The idea is a good one but if the government tries to interfere, it can really be bad for those who took this initiative and may have to face a court of law.
August 11, 2022, 02:49:20 AM
Now Imagine if all Bitcoiners all over different parts of the world who can afford it, take up initiatives as this, to build Bitcoin cities in their localities, Bitcoin Adoption will be easily secured, even without governments making it a legal tender.
I am not sure how much government influence this village has and what are the local laws for Nigeria but if you talk generally about the countries it is not easy to declare any city as a bitcoin city when the government has not allowed bitcoin to be used officially in the country.
The idea is a good one but if the government tries to interfere, it can really be bad for those who took this initiative and may have to face a court of law.
I wish governments start to accept the importance of bitcoin and digital currency and we are able to use bitcoin everywhere , there should be no restrictions on making bitcoin cities and villages around the globe.
August 11, 2022, 02:14:01 AM
This is really an interesting thing. The same from Nigeria isn't a surprise for me. Already Nigeria is a country where we're able to see good growth and increased usage of cryptocurrencies. Group of entrepreneurs making the bitcoin city will help more business progress through cryptocurrency. Small droplets make an ocean, same as this bitcoin cities getting developed here and there will pave path for the mainstream adoption.
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