Topic: Bitcoin hitting it's target - page 3. (Read 482 times)

I think that is a mistake as the amount that you have paid in Bitcoin could have given you a significant amount of return in the long term. There are multiple ways to make a payment, for example, you could have used a debit card, issued a cheque to the hospital, or could have got a banker's draft from your bank.


Yes, in many countries where Bitcoin is accepted as a mode of payment people have started using it as a mode of payment in restaurants or stores. The amount is not that much so the payments are done using the LN.

500,000 is for hospital bill and the rest for for some other stuffs like drugs and foods.
If you ready carefully you will see bills and not bill.
Thank you

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.

This is how bitcoin supposed to be used by people but unfortunately some government entities in the world doesn't allow this to happen since maybe they cannot get benefits by accepting this. If global leaders could just recognize the usefulness of bitcoin and blockchain it can make our life more easier and as well we can get additional investment option so that we can grow individually in terms on financial aspects. For now its good to accumulate but remember that you still consider how you need bitcoins since if you need money to use then don't regret to use it at in any time.

Congratulations, you have experienced how to use bitcoin as a payment option when you can not use all the methods you usually use. You are lucky to be able to pay using bitcoin. You can spread the news to many places, especially those treated at the hospital. And when they do not have enough money but carry the money in a bitcoin wallet, they can pay through their bitcoin wallet. And the presence of bitcoin in society can significantly change them.

That's a great point about bitcoin vs fiat, but I'm curious, your country only accepts cash payment and no other payment options like online banking or e-payment wallet like Payeer, Paypal, or WebMoney...? In my country, for the large amount, we don't use cash, but bank transfer, and there are many options. In this case, if you already have an internet connection, you have more options than bitcoin.

Yes That's what the federal government wants to do
But I think that will not stop most citizen from hidden money
Just think about this how can a politician carry all his old naira note to the bank to exchange all the new money in the bank? And this happened in the CBN just because of the coming election..
I think this why there is exactly of money in the country.

No wonder why Nigeria placed top 1 for searching "how to buy bitcoin"



From what I understand, the Nigerian government is replacing or redesigning their "old" banknotes, rendering them unusable for physical exchange; essentially, making old banknotes worthless while making the exchange process much more difficult – so people are opting for cashless transactions.

Isn't this an old trick used by the government to subject people with large sums of money to taxation?

Bitcoin has always been an alternative to a financial economical hectic situations, especially when dealing with making payments nowadays that the traditional fiat system is slow and having network barriers, bitcoin is a good alternative.


Please correct the figures after your decimal, i believed five thousand naira should be in this format (5,000.00) if that's the said amount intended amount you mean.


There's cash in the banks but the financial institutions were working base on the central banks directives to offer lower denomination to the customers while the higher denominations be collected through the ATMs, but it does not work because of the numbers of people on ground to receive cash payment, the mistake they did was to instill hardships on the innocent citizens through this means in a bid to curb the corrupt politicians at the citizens expense, which is wrong, what are the EFCC, ICPC doing that they can't probe their financial means.


They are rather holding the currency and not that it's scarce, bitcoin in this regard has served many with an alternative means to go through this period, this and the likes are things liable to be experienced when dealing with fiat under central authorities, the more reasons why bitcoin is the preferred alternative to present world financial economy because it is a decentralized currency that gives you right and control over your finance.

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.