Topic: Bitcoin is Good but it cannot replace our Naira - page 2. (Read 253 times)
Bitcoin true true no fit replace our Naira. That na one reason why federal government ensure they introduce CBDC to ease stress too. Where Bitcoin has power is when it concerns receiving and making international payments or trades. Had it been it was a legal tender in this country, we would have benefitted more to the point of using the Naira less.
I wanted to pay online, I was unable to use naira master card, I used bitcoin. A friend asked of money from me in a deal, I said I did not have naira on me at the time, he told me he can receive it in bitcoin or altcoin. Bitcoin is an alternative and it makes life easier. Not on bitcoin white paper that it would be a replacement, but just a direct peer-to-peer means of payment.
The past one week has been and is still hell for Nigerians. Everyone is feeling the heat and it is getting "worser". However, one of the things I have noticed is that it has caused or should I say forced business people to adapt to cashless economy. The number of cash transfers has increased. Just a couple of days ago , a woman whom I usually buy some food items from was eager to accept transfer. Something she refused a couple of weeks ago. Well, this is not the main point of the write, the point I am trying to make is that I have imagine that we can use Bitcoin for transactions but you see eh, it cannot totally work. Even the cash transfer we do because you still need cash to pay the taxi driver, the commercial motorcyclist(okada), the woman who sells roasted corn down your street. So I came to the conclusion that bitcoin is good but with wetin my eyes don see, e nor go fit ever replace or substitute for our Naira. How you take reason am? You disagree or agree?
It’s been hell for me, price of fuel has increased to 500/L and you can’t get cash from the banks to even pay for stuff. Today I had to stay in a long queue at the bank to withdraw, the withdrawal limit imposed by the banks was 5000naira. Can you imagine? 5000 naira. Of course a fight broke out eventually when the money was exhausted and I had to go to POS centers, paid 3000naira charge to withdraw 10k. It was so annoying. We were not ready for this change the government is forcing on us, imagine having money in the account and yet unable to use it. 
The past one week has been and is still hell for Nigerians. Everyone is feeling the heat and it is getting "worser". However, one of the things I have noticed is that it has caused or should I say forced business people to adapt to cashless economy. The number of cash transfers has increased. Just a couple of days ago , a woman whom I usually buy some food items from was eager to accept transfer. Something she refused a couple of weeks ago. Well, this is not the main point of the write, the point I am trying to make is that I have imagine that we can use Bitcoin for transactions but you see eh, it cannot totally work. Even the cash transfer we do because you still need cash to pay the taxi driver, the commercial motorcyclist(okada), the woman who sells roasted corn down your street. So I came to the conclusion that bitcoin is good but with wetin my eyes don see, e nor go fit ever replace or substitute for our Naira. How you take reason am? You disagree or agree?
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