Majority of the people that are using bitcoin are mainly for investment purposes as most of these persons are either from countries where bitcoin is banned with unfriendly policy environment or it's not operated as a legal tender so therefore those using it takes advantage of the store of value feature for holding either longer or short terminal and Nigeria isn't an exception. Maybe someday our government can consider with certain policies towards bitcoin then some Nigerians can take it upon themselves to use it for business transaction as with the naira.
I have not really gotten that data to know the highest users in bitcoin. Either the people that are doing investment are more or the people that are trading are more butt one thing I know be say, for now traders are more than investors and that is how I look at it. When any country bans Bitcoin, the awareness giving to those county people will be very minimal than the ones which has been accepted bitcoin as their legal tender. 
Topic: Is Bitcoin the way out now ? (Read 113 times)
1. Will you use and accept Bitcoin for daily transactions
Yes2. How often is Bitcoin used in your area
No one that I have seen using bitcoin than my friends that know about crypto trading, but it is a common thing between my friends and I. Almost all youths know bitcoin in my area but they prefer to use naira instead, which is the legal tender. No shop accepting bitcoin. I see people in Nigeria to see bitcoin more as investment.
1. Will you use and accept Bitcoin for daily transactions
Yes I will because Bitcoin is becoming well known to people this days.2. How often is Bitcoin used in your area
Although I haven't seen anyone using Bitcoin for transactions, but I have the fath that are some persons that really uses Bitcoin in there businesses,maybe I haven't come across them either.
3. How have you been copping with the recent happenings in the country?
Anyway it's going little hard but we move
I totally missed out this thread since then. The changed of naira in the election period was not main for the election but to suffer the citizens. I have not seen or heard in any where that changing of currency affect citizens life badly. OBJ changed #20 and other currencies, it did not affect anyone but everything went well. Goodluck Jonathan changed some denominations in the currency and everything went smoothly without any bad impact to the citizens and why Buhari and Emefele own were different? They knew what they were doing but they failed.
And from your questions, if bitcoin was adopted as the legal tender in the country, using bitcoin for the daily transaction will be very simple. And if the transaction fee is very low the one can use to buy things daily. But if not, you collect once and spend it in the week. The question two becomes a rhetorical question to me oo because you know say you be Nigerian and u dey ask such a wonderful question. Oboy no often. Oboy day time situation and present day situations are all the same. Because dat time business activities for stopped and many even stopped and di same thing nai dey happen now. So to coppe in Nigeria economy now is not easy.
And from your questions, if bitcoin was adopted as the legal tender in the country, using bitcoin for the daily transaction will be very simple. And if the transaction fee is very low the one can use to buy things daily. But if not, you collect once and spend it in the week. The question two becomes a rhetorical question to me oo because you know say you be Nigerian and u dey ask such a wonderful question. Oboy no often. Oboy day time situation and present day situations are all the same. Because dat time business activities for stopped and many even stopped and di same thing nai dey happen now. So to coppe in Nigeria economy now is not easy.
To me, I no think so due to our knowledge about bitcoin just like oga Brainboss talk. Me sef no too get much knowledge like dat. And we know say apart from first class and some middle class citizens, the rest about 40% no dey digital. So e go worry to transact with BTC. And some businesses need cash, like transportation (bus & taxis), food (bukka), market, not supermarkets oo 
legendary
Activity: 2226
Merit: 4126
eXch.cx - Automatic crypto Swap Exchange.
Considering the recent happenings in the country, the scare of naira notes but the new and old notes and the hike in price of pos charges and I wished Bitcoin was accepted because with the happenings now, I'm now understanding the relevance of decentralization and my questions are:
1. Will you use and accept Bitcoin for daily transactions
2. How often is Bitcoin used in your area
3. How have you been copping with the recent happenings in the country?
1. Will you use and accept Bitcoin for daily transactions
2. How often is Bitcoin used in your area
3. How have you been copping with the recent happenings in the country?
Firstly, the use of Bitcoin for daily transaction na every enthusiast dreams. No be only Nigerians dey wish for this one to become a reality someday so I doubt anybody wey dey here go dey against this initiative. Secondly, I doubt say e get any location wey the use of Bitcoin na hot cake. We fit dey deceive ourselves but this is very far from reality. Majority of Nigerians no even understand wetin Bitcoin be talk more of say e come dey become like our regular currency for the country.
Lastly, this whole scarcity me no understand oh, na today d thing whey me as I comot go buy things for some things. 5k na 5h I carry withdraw am out fr pos and the worst part be say na till old Naira note them give me. If you come dey see queue for banks ehh. Fuel no come dey add am. Any filling station wey dey open na so so cars just full am come dey cause hold up join. I hear one update today say soon the Naira scarcity go be a thing of the past as CBN dun give orders to banks to dey dispense cash now, how legit this info me?
(1)yes it possible,it depends on how much transaction you want to make, and country where you are matters too, because of the denomination,for example, country like Nigeria where we have #5, you know it's worthless in terms of the prince of Bitcoin
(2) it's not common anyway in my area,but I know there is.
(3) well you know that God is not a man and as a Nigerian I don't think there's a situation we will not survive here in this country, aspect you don't want to help yourself, because is like we are use to suffering, from one condition to another..
(2) it's not common anyway in my area,but I know there is.
(3) well you know that God is not a man and as a Nigerian I don't think there's a situation we will not survive here in this country, aspect you don't want to help yourself, because is like we are use to suffering, from one condition to another..
1. Will you use and accept Bitcoin for daily transactions
Yes but only for a large transaction amount since there is no LN everywhere. 2. How often is Bitcoin used in your area
Barely and personally I've not been using my Bitcoin for some time now, I'm stacking. Quote
3. How have you been copping with the recent happenings in the country?
I noticed that the N5, N10, and N20 are back on the road, which is a welcome development if we actually want to consider the positive aspects of the cashless policy. It will take time to resolve the current crisis caused by the ignorance of some Nigerians and the mismanagement of the banks. The simplest solution would be for all large and small vendors to have a POS machine; we don't really need cash on hand. It's not difficult to get your goods, pay with your card, and leave.The new cashless policy will benefit Nigerians for a long term
1. Will you use and accept Bitcoin for daily transactions
Yes2. How often is Bitcoin used in your area
No one that I have seen using bitcoin than my friends that know about crypto trading, but it is a common thing between my friends and I. Almost all youths know bitcoin in my area but they prefer to use naira instead, which is the legal tender. No shop accepting bitcoin. I see people in Nigeria to see bitcoin more as investment.3. How have you been copping with the recent happenings in the country?
I prefer online transfer to cash, not a problem for me. 99% of what I am buying is through online transfer or POS own by the seller.
Considering the recent happenings in the country, the scare of naira notes but the new and old notes and the hike in price of pos charges and I wished Bitcoin was accepted because with the happenings now, I'm now understanding the relevance of decentralization and my questions are:
1. Will you use and accept Bitcoin for daily transactions
2. How often is Bitcoin used in your area
3. How have you been copping with the recent happenings in the country?
1. Will you use and accept Bitcoin for daily transactions
2. How often is Bitcoin used in your area
3. How have you been copping with the recent happenings in the country?
Jump to: