The limited fiat cash supply in Nigeria have indeed caused many to begin to look for alternative means of making payments for their day to day purchases, the Central bank of Nigeria has long been pushing for a cashless society but it seems the people of Nigeria have gotten so used to spending physical cash that the idea of a cashless society meant nothing to them.
The current happening in Nigeria is actually a good things since through it, many have discovered that that can actually spend bitcoin for payment for goods and services just same way we spend our cash, after all, this is why bitcoin exist in the first place.
Topic: Bitcoin hitting it's target (Read 477 times)
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Today I was so glad because I was stressed free all because of Bitcoin.
To cut long story short, I went to pay the hospital bills of my younger brother who has been in the hospital for about 1 week now and I have to pay the sum of 500.000.00 naira based on no cash in my country ( Nigeria ) you will have money in your bank account but you can't withdraw from any Fiat bank. So there's scarcity of money in the country for now. So based on that I asked the doctor if I can pay the hospital bills with Bitcoin and he said yes. So I was surprised based on my first experience paying bills with Bitcoin. To cut long story short letter That's day I paid 0.046591 BTC
To cut long story short, I went to pay the hospital bills of my younger brother who has been in the hospital for about 1 week now and I have to pay the sum of 500.000.00 naira based on no cash in my country ( Nigeria ) you will have money in your bank account but you can't withdraw from any Fiat bank. So there's scarcity of money in the country for now. So based on that I asked the doctor if I can pay the hospital bills with Bitcoin and he said yes. So I was surprised based on my first experience paying bills with Bitcoin. To cut long story short letter That's day I paid 0.046591 BTC
Wow, half a million is a huge amount. You’re lucky the hospital accepts bitcoin, the past week has been hard in Nigeria, we are facing scarcity of cash and failure of the banks to manage the situation. I hope we can gain something from this negative experience and see that bitcoin is a more easier payment option in these times.
So please you guy should try and stork Bitcoin because very soon it will be used as form of payment in all businesses.
You got to be lucky as well OP that it was accepted in your place because even still a lot of companies are not yet offering this kind of service.
This is what we called adoption and many countries are giving their support for this technology bringing the chance and comfort for those who are in crypto.
I see that there is always room for crypto adoption improvement and we are getting to it becoming fully adopted to digitalization making Bitcoin an alternative to fiat money.
This is what we called adoption and many countries are giving their support for this technology bringing the chance and comfort for those who are in crypto.
I see that there is always room for crypto adoption improvement and we are getting to it becoming fully adopted to digitalization making Bitcoin an alternative to fiat money.
There is a scarcity of physical money but not in digital form? But all digital money should also match to the supply of physical money right? For it to call it real; anyway, I am glad that Bitcoin help you with your problem and I hope your brother is doing fine now.
This is one of the things that I am also worrying about and that is if one of my family members are going to suffer from an illness because I don't have any savings right now to pay for their hospital bills in case they will get hospitalize. For now, many businesses don't officially accept BTC as a payment method but we can always ask their in charge if it's okay to pay using a BTC for some reasons. I've seen a lot of successful stories about it.
This is one of the things that I am also worrying about and that is if one of my family members are going to suffer from an illness because I don't have any savings right now to pay for their hospital bills in case they will get hospitalize. For now, many businesses don't officially accept BTC as a payment method but we can always ask their in charge if it's okay to pay using a BTC for some reasons. I've seen a lot of successful stories about it.
It's good to see you were able to pay your hospital bills informally using Bitcoin. I say "informally" because you would need to find an alternative if the doctor refused to take Bitcoin payment. It is disappointing that you cannot always pay with Bitcoin whenever you want. because takers are not obligated to accept it and it is not an official form of payment. You followed our long-standing practice, as we have done. Where required, pay those who accept Bitcoin. Without a doubt, Bitcoin has achieved its goals.
Just curious, you said you couldn't withdraw fiat cash, but then why not pay with your card or make a bank transfer? Anyway, at least bitcoin saved you and they were kind enough to accept bitcoin as a form of payment.
But now lets say you need to make another huge payment. How would you do it? Since you can't buy bitcoin with fiat money (because like you said, the government won't let you withdraw fiat currencies), aren't you stuck here?
And by hitting target, if you mean it is close to become the "regular" currency that everyone is going to use, then no. It is no where near close, but it is moving towards the target.
But now lets say you need to make another huge payment. How would you do it? Since you can't buy bitcoin with fiat money (because like you said, the government won't let you withdraw fiat currencies), aren't you stuck here?
And by hitting target, if you mean it is close to become the "regular" currency that everyone is going to use, then no. It is no where near close, but it is moving towards the target.
The major thing is that most people use Bitcoin as an investment while some can also use it a payment methods too.
Most betting sites also uses Bitcoin as payment methods.
So thing here is that not everyone will use Bitcoin for payment.
Not all users use bitcoin as means of payment, of course that can be justified.Most betting sites also uses Bitcoin as payment methods.
So thing here is that not everyone will use Bitcoin for payment.
You are never forced to use bitcoin as a payment method, it must be of your own free will. But anyone can use bitcoin as means of payment even though regulation basically could prevent more cases of its use as legal currency.
About your experience using bitcoin as means of payment, it's clearly good because on the one hand you have really proven that bitcoin has real use cases that are accepted in various circles. But was your experience great? Of course not because several other users have also bought cars with bitcoin, houses or so on.
To cut long story short letter That's day I paid 0.046591 BTC.
You could have easily used your debit card to pay the bills. You actually paid more(0.046591 = $1094.98 at today’s price), the exchange rate in Nigeria is 750/$ meaning you paid N821,235 instead of N500,000. It’s a bad transaction in my opinion, you lost over 200k in this single transaction. I doubt the legitimacy of this story because either parties should have been aware of this error when calculating the amount. OP is known for his tall tales and evading ban. If you ready carefully you will see bills and not bill.
Thank you
If you can attach the receipt as proof, that is even better because I don't believe your story either, stories like this are for the purpose of seeking merit, not for sharing about experiences with bitcoin. I also agree with SatoPrincess, you can use debit card or other payment methods without the help of bitcoins.
Apart from fighting inflation, people won't be willing to spend their bitcoin because they know its returns will be huge in the future. That's why I believe bitcoin is hard to become a payment method even if it is widely accepted. While bitcoin's original goal was created as a peer-to-peer payment method, but today because of its value, people just want to see it as an investment.
The major thing is that most people use Bitcoin as an investment while some can also use it a payment methods too.
Most betting sites also uses Bitcoin as payment methods.
So thing here is that not everyone will use Bitcoin for payment.
To cut long story short letter That's day I paid 0.046591 BTC.
You could have easily used your debit card to pay the bills. You actually paid more(0.046591 = $1094.98 at today’s price), the exchange rate in Nigeria is 750/$ meaning you paid N821,235 instead of N500,000. It’s a bad transaction in my opinion, you lost over 200k in this single transaction. I doubt the legitimacy of this story because either parties should have been aware of this error when calculating the amount. OP is known for his tall tales and evading ban. If you ready carefully you will see bills and not bill.
Thank you
If you can attach the receipt as proof, that is even better because I don't believe your story either, stories like this are for the purpose of seeking merit, not for sharing about experiences with bitcoin. I also agree with SatoPrincess, you can use debit card or other payment methods without the help of bitcoins.
Apart from fighting inflation, people won't be willing to spend their bitcoin because they know its returns will be huge in the future. That's why I believe bitcoin is hard to become a payment method even if it is widely accepted. While bitcoin's original goal was created as a peer-to-peer payment method, but today because of its value, people just want to see it as an investment.
You are lucky to be able to use bitcoin as an alternative payment at the hospital to pay off the payment immediately. In this case, bitcoin has helped you overcome financial problems that cannot be solved by fiat currency due to the limited circulation of local currency.
Your government should consider this and implement alternative payment options other than using local currency or cash payments. If bitcoin can be used as an alternative option to pay for every business, it can help your country's economy. Still, it depends on your government's attitude toward the presence of bitcoin.
Your government should consider this and implement alternative payment options other than using local currency or cash payments. If bitcoin can be used as an alternative option to pay for every business, it can help your country's economy. Still, it depends on your government's attitude toward the presence of bitcoin.
Today I was so glad because I was stressed free all because of Bitcoin.
To cut long story short, I went to pay the hospital bills of my younger brother who has been in the hospital for about 1 week now and I have to pay the sum of 500.000.00 naira based on no cash in my country ( Nigeria ) you will have money in your bank account but you can't withdraw from any Fiat bank. So there's scarcity of money in the country for now. So based on that I asked the doctor if I can pay the hospital bills with Bitcoin and he said yes. So I was surprised based on my first experience paying bills with Bitcoin. To cut long story short letter That's day I paid 0.046591 BTC
I will say Bitcoin is going so far it's hitting it's target.
If people starts using Bitcoin as form of payment in there businesses it's will reduce stress.
Why do I say it will reduce stress?
Because you won't be counting fisical cash anymore and you don't have to carry any money to the bank.
So please you guy should try and stork Bitcoin because very soon it will be used as form of payment in all businesses.
To cut long story short, I went to pay the hospital bills of my younger brother who has been in the hospital for about 1 week now and I have to pay the sum of 500.000.00 naira based on no cash in my country ( Nigeria ) you will have money in your bank account but you can't withdraw from any Fiat bank. So there's scarcity of money in the country for now. So based on that I asked the doctor if I can pay the hospital bills with Bitcoin and he said yes. So I was surprised based on my first experience paying bills with Bitcoin. To cut long story short letter That's day I paid 0.046591 BTC
I will say Bitcoin is going so far it's hitting it's target.
If people starts using Bitcoin as form of payment in there businesses it's will reduce stress.
Why do I say it will reduce stress?
Because you won't be counting fisical cash anymore and you don't have to carry any money to the bank.
So please you guy should try and stork Bitcoin because very soon it will be used as form of payment in all businesses.
This is only one of the benefits of using Bitcoin. Bitcoin use as payment is great because it will make things easier. Just like what you've said that you've paid the bill using Bitcoin. I believe that sooner Bitcoin will be use as payment worldwide, that's why it's good to put some Bitcoin in our bag because it will continue to rise and we can really benefit it. If I have a business, I will accept Bitcoin as payment.
There are many positive stories about bitcoin adoption in Nigeria but I don't know if they are true stories or just made for merit fishing. I don't know what the purpose is, but most importantly bitcoin is suitable for any payment as long as both parties are willing to accept bitcoin as means of payment. Then how can doctors accept payments in bitcoin while they are only workers under hospital management? OP should have paid for the doctor's services at the hospital through management where the cashier is the place to pay for it, I'm really confused as to how this could be right.
I tend to be able to pay the baker directly in bitcoin instead of asking if the doctor will accept payment in bitcoin at the hospital even if the doctor is bitcoin user. I mean doctors only receive fiat as their salary at the hospital, while it is management that processes all payments and bills from customers.
I tend to be able to pay the baker directly in bitcoin instead of asking if the doctor will accept payment in bitcoin at the hospital even if the doctor is bitcoin user. I mean doctors only receive fiat as their salary at the hospital, while it is management that processes all payments and bills from customers.
Your story is a sweet one. I did not know that hospitals are now beginning yo accept bitcoin, maybe it is a private hospital? Nigeria doctors with their arrogance are now beginning to realise that there is something good in bitcoin? Can we know the name of that hospital and its location so that we can check it out when we are sick or refer other bitcoin fans to it for patronage.
Nigerian are truly adopting crypto mate though their government is still not in the main line yet their people are not having many action for crypto and yes this OP's story is something we must love to hear.
because if this will be happening in my country as my Doctor will offer me to accept bitcoin ? then surely I will completely use my Bitcoin to pay them each time.
You have had an interesting experience, I am glad for you that you found a way out of the situation and you managed to make a payment in bitcoin.In my city, it has recently become possible to pay for an online order at a pharmacy using cryptocurrencies, which is also very convenient.Although there are no problems at the moment with both cash and non-cash payment methods.
Congratulations to your city having added cryptocurrencies as a payment for Pharmaceutical purchases ?yes this is a big update as in my city? still there are no such offer till now, I am having my maintenance purchasing in online pharmacy and waiting for bitcoin and other crypto to be accepted.
Today I was so glad because I was stressed free all because of Bitcoin.
To cut long story short, I went to pay the hospital bills of my younger brother who has been in the hospital for about 1 week now and I have to pay the sum of 500.000.00 naira based on no cash in my country ( Nigeria ) you will have money in your bank account but you can't withdraw from any Fiat bank. So there's scarcity of money in the country for now. So based on that I asked the doctor if I can pay the hospital bills with Bitcoin and he said yes. So I was surprised based on my first experience paying bills with Bitcoin. To cut long story short letter That's day I paid 0.046591 BTC
I will say Bitcoin is going so far it's hitting it's target.
If people starts using Bitcoin as form of payment in there businesses it's will reduce stress.
Why do I say it will reduce stress?
Because you won't be counting fisical cash anymore and you don't have to carry any money to the bank.
So please you guy should try and stork Bitcoin because very soon it will be used as form of payment in all businesses.
To cut long story short, I went to pay the hospital bills of my younger brother who has been in the hospital for about 1 week now and I have to pay the sum of 500.000.00 naira based on no cash in my country ( Nigeria ) you will have money in your bank account but you can't withdraw from any Fiat bank. So there's scarcity of money in the country for now. So based on that I asked the doctor if I can pay the hospital bills with Bitcoin and he said yes. So I was surprised based on my first experience paying bills with Bitcoin. To cut long story short letter That's day I paid 0.046591 BTC
I will say Bitcoin is going so far it's hitting it's target.
If people starts using Bitcoin as form of payment in there businesses it's will reduce stress.
Why do I say it will reduce stress?
Because you won't be counting fisical cash anymore and you don't have to carry any money to the bank.
So please you guy should try and stork Bitcoin because very soon it will be used as form of payment in all businesses.
Oh good the hear that the hospital allowed you to pay in bitcoin, is it P2P though or you have to used a 3rd party to be able to pay in BTC? I'm just curious because here in our country, bitcoin is not yet readily accepted but you can pay certain services thru a 3rd party in between (which defeated the purpose though of using BTC).
Hopefully as more countries accepting Bitcoin maybe we can see other services, not just hospital to accept Bitcoin. And kudos to Nigeria as well, they seems to be in forefront as far as adoption is in Africa.
Today I was so glad because I was stressed free all because of Bitcoin.
To cut long story short, I went to pay the hospital bills of my younger brother who has been in the hospital for about 1 week now and I have to pay the sum of 500.000.00 naira based on no cash in my country ( Nigeria ) you will have money in your bank account but you can't withdraw from any Fiat bank. So there's scarcity of money in the country for now. So based on that I asked the doctor if I can pay the hospital bills with Bitcoin and he said yes. So I was surprised based on my first experience paying bills with Bitcoin. To cut long story short letter That's day I paid 0.046591 BTC
I will say Bitcoin is going so far it's hitting it's target.
If people starts using Bitcoin as form of payment in there businesses it's will reduce stress.
Why do I say it will reduce stress?
Because you won't be counting fisical cash anymore and you don't have to carry any money to the bank.
So please you guy should try and stork Bitcoin because very soon it will be used as form of payment in all businesses.
To cut long story short, I went to pay the hospital bills of my younger brother who has been in the hospital for about 1 week now and I have to pay the sum of 500.000.00 naira based on no cash in my country ( Nigeria ) you will have money in your bank account but you can't withdraw from any Fiat bank. So there's scarcity of money in the country for now. So based on that I asked the doctor if I can pay the hospital bills with Bitcoin and he said yes. So I was surprised based on my first experience paying bills with Bitcoin. To cut long story short letter That's day I paid 0.046591 BTC
I will say Bitcoin is going so far it's hitting it's target.
If people starts using Bitcoin as form of payment in there businesses it's will reduce stress.
Why do I say it will reduce stress?
Because you won't be counting fisical cash anymore and you don't have to carry any money to the bank.
So please you guy should try and stork Bitcoin because very soon it will be used as form of payment in all businesses.
Wow, I didn't know there is no cash in Nigeria. And I was even more surprised that you can pay with Bitcoin at a hospital. What about taxes? Can you pay taxes in Bitcoin? Is Bitcoin taxable? I really hope Nigeria is the next country to accept Bitcoin as legal tender.
Today I was so glad because I was stressed free all because of Bitcoin.
To cut long story short, I went to pay the hospital bills of my younger brother who has been in the hospital for about 1 week now and I have to pay the sum of 500.000.00 naira based on no cash in my country ( Nigeria ) you will have money in your bank account but you can't withdraw from any Fiat bank. So there's scarcity of money in the country for now. So based on that I asked the doctor if I can pay the hospital bills with Bitcoin and he said yes. So I was surprised based on my first experience paying bills with Bitcoin. To cut long story short letter That's day I paid 0.046591 BTC
I will say Bitcoin is going so far it's hitting it's target.
If people starts using Bitcoin as form of payment in there businesses it's will reduce stress.
Why do I say it will reduce stress?
Because you won't be counting fisical cash anymore and you don't have to carry any money to the bank.
So please you guy should try and stork Bitcoin because very soon it will be used as form of payment in all businesses.
To cut long story short, I went to pay the hospital bills of my younger brother who has been in the hospital for about 1 week now and I have to pay the sum of 500.000.00 naira based on no cash in my country ( Nigeria ) you will have money in your bank account but you can't withdraw from any Fiat bank. So there's scarcity of money in the country for now. So based on that I asked the doctor if I can pay the hospital bills with Bitcoin and he said yes. So I was surprised based on my first experience paying bills with Bitcoin. To cut long story short letter That's day I paid 0.046591 BTC
I will say Bitcoin is going so far it's hitting it's target.
If people starts using Bitcoin as form of payment in there businesses it's will reduce stress.
Why do I say it will reduce stress?
Because you won't be counting fisical cash anymore and you don't have to carry any money to the bank.
So please you guy should try and stork Bitcoin because very soon it will be used as form of payment in all businesses.
Your idea is very good for people to try and stork bitcoin,it's good to motivate one another, normally some countries and people's use bitcoin in exchange with their needs or when facing problems, due to the scarcity of the new currency in your country that's what makes you know that without having cash in you, you can pay your debts or financial problems with bitcoin, bitcoin is an investment and very important to those who understand its value.
It seems that at the moment Nigeria is one of those who are very interested in bitcoin because there is indeed a lot of news or even many who have started something there with bitcoin.
Btw back to the topic above I think bitcoin has become a viable alternative indeed but with the current conditions don't forget about regulations in your country, as long as it's not a problem then do it but if it violates regulations then it's better to return to normal because this is also related with the image of bitcoin itself.
Nigeria is one of the nations that firmly believes that bitcoin has a bright future, but the nation's rules make it such that its inhabitants may only access it through alternate channels that have been developed. Some nations have strict laws against bitcoin because it is seen to be the end of fiat money. It's vital to begin doubting the initiative while others are utilizing it to benefit easily and as legal cash in some nations, like as El Salvador. Bitcoin is expanding more quickly than anyone could have predicted, and with its help, carefully planned budgets have been smashed. Btw back to the topic above I think bitcoin has become a viable alternative indeed but with the current conditions don't forget about regulations in your country, as long as it's not a problem then do it but if it violates regulations then it's better to return to normal because this is also related with the image of bitcoin itself.
Did you pay directly to the doctor or you have to pay it on their cashier? I'm just curious though since you've mentioned hospital bills, it's possible that it's the entire package including the doctor's fee.
Well, regardless of it, it's way to go and bitcoin really is being used of what it should be used aside just from being an investment.
Good thing in your country, the adoption is spreading and we might see more good stories such as yours on how they've paid a service or goods with bitcoin.
Yeah i feel same too because after thorough calculations the figures doesn't add then i thought maybe he paid into the hospitals account so maybe he also added some additional fees since the OP stated it was for bill(s). Even at that its still a positive view seeing the rate of how bitcoin has spread like wildfire all over africa especially Nigeria. Well, regardless of it, it's way to go and bitcoin really is being used of what it should be used aside just from being an investment.
Good thing in your country, the adoption is spreading and we might see more good stories such as yours on how they've paid a service or goods with bitcoin.
At the view of it, overall it's a good thing that there's a hospital or a doctor that has accepted payment in bitcoin. It's certainly a big sigh of relief because OP was able to pay with the use of bitcoin.
I've experienced that but it didn't do well in terms of payment because the hospital where we got admitted don't accept bitcoin and they don't even believe that it's an actual thing that has monetary value as well.
It seems that at the moment Nigeria is one of those who are very interested in bitcoin because there is indeed a lot of news or even many who have started something there with bitcoin.
Btw back to the topic above I think bitcoin has become a viable alternative indeed but with the current conditions don't forget about regulations in your country, as long as it's not a problem then do it but if it violates regulations then it's better to return to normal because this is also related with the image of bitcoin itself.
Btw back to the topic above I think bitcoin has become a viable alternative indeed but with the current conditions don't forget about regulations in your country, as long as it's not a problem then do it but if it violates regulations then it's better to return to normal because this is also related with the image of bitcoin itself.
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