Topic: My ideals on how to promote Bitcoin in my locality - page 3. (Read 495 times)

To some, actually we don't need to promote this industry. Many people are already aware of its existince and advantages over other currencies and same goes with the disadvantages. Let people decide whether they'd dive into this industry. Share only the idea of how this industry works and how you are making use of this technology. One reason of not persuading them is to save them from risk especially if they are not into it. It will just be a drama if you'd push them to invest and once they are seeing losses, you'd be the one to blame. Sharing the knowledge would be a good idea but never be biased when introducing this industry to people.

I’m afraid the cons outweigh the pros in this case, because in Nigeria there are lots of “fake men of God” that extort their members by different means. Even the innocents ones can be exploited, I remember in 2019/2020 when forex trading become so popular in a city, churches were used as an outlet for forex trading companies to promote their business, all they had to do was convince the head pastor that they were legit and the pastor most times give them their platform to speak to church members. Later when the scam company disappeared with all the funds, the churches suffer loss of their flock because the trust between the church and its members was lost.

Religions should not be connected to any currency, their practice is not to teach about currency but its more on their religious belief and in my country, they will not go down into this level especially we are a catholic country where we focus in God’s word. Their influence to other people should not be take advantage by any currency, this is not a good way to spread awareness about Bitcoin.

The best way to promote is to spread knowledge about it without forcing anyone to adopt or participate, you can conduct a seminar or live streaming but again, don’t force anyone and just share your thoughts about Bitcoin.

Spreading the word of bitcoin through the religious leaders will surely help with effective reach among the common people. As you've mentioned the core purpose of the religious leaders were not to spread the word of bitcoin. Even without such spread it is possible to see good level of cryptocurrency usage and acceptance within Nigeria. These days it is not possible to see religious leaders who are very loyal.

I agree it is quite a good move to involve religious leaders in propagating Bitcoin but I warn you that it is devastating if these religious leaders become greedy and mislead their followers into investing in some Ponzi scheme that exploits Bitcoin as their means to defraud people.  I have seen this kind of situation where a pastor who has huge followers was blinded by greed and invited all his followers to invest in a company pretending to be a Bitcoin trader but actually a Ponzi schemer.  That resulted in lots of people getting scammed.


It is given with the trend of Bitcoin that anyone buying and keeping it during a bear market will eventually get a profit when Bitcoin started to become bullish.  But those who invested during the peak may not see it that way especially when they are not patient enough to wait for another cycle that can record a new ATH.

The idea of the religious leader enlightening their followers about Bitcoin will make some of their followers trust and believe in Bitcoin. However, religion was not about enlightening people about BTC and I also believe most religious leaders cant be aware of the concept of Bitcoin until some of their followers introduce them to it. Meanwhile, I have once seen a church that accepts offerings and tithes in BTC I don't remember where I watch the video.

Convincing someone and explaining the facts beyond the local thoughts is very difficult still i think i can also start a simple campaign in my department in regular classes. As my fellow can pick the point easily and it can be a progressive step anyway. Social Campaigns are a bit difficult reason the typical thinking and point of view but we can change that with our success stories as they know us better then ourselves as we have spent our maximum of time between them.

Introduce this idea to the person who have little knowledge about cryptocurrency but don't know where to go to learn more of it since they are the one will provably got interested about physical promotions you do. And for sure if they can learn those people will also spread the word about good benefits they can get about crypto since if you randomly grab people out of nowhere then provably you will get a rejection since maybe they think that this is irrelevant and you will get rejected by people who don't know anything about bitcoin.

It is not about religious leaders telling their members/followers about bitcoin,  but my question is that how are they going to go about it. Is it that they will just tell members to invest bitcoin because it is profitable and never give proper understanding about bitcoin.  Promoting bitcoin is not just telling  people about bitcoin to invest in it but to give  good understanding about bitcoin why one needs to invest in it and it is not an investment to make one to be rich. Telling people about bitcoin is not only telling them the profit in it but to let them know bitcoin is also about understanding,  preparation not to be frightened by the dip in the market. Making people understanding it will keep them while investing but telling them only the profit story will make them to give up when profit have not been made as they expected.

This is exactly what we should do when recommending bitcoin to someone, I see a lot of people comparing bank savings and holding bitcoins. It seems that those people are partial towards bitcoin when only talking about the benefits of bitcoin, like the huge profits it brings, and full control of the property...and they have ignored its volatility, to assert that holding bitcoin is better than saving. I am also a bitcoin investor, and I invest a lot in bitcoin, but I don't want to lie that saving is entirely useless and bitcoin is perfect. Both have pros and cons.

TBH, I can't think of a reason why somebody must connect religions, churches into Bitcoin.
I can't find any churches that are promoting any crypto project at all. I don't know if religions promoting Bitcoin will be good or bad, but I don't think that they will promote it at all. I mean if they can't benefit from it then they will not do it and besides, not all of the churches know or has been engaged into Bitcoin or crypto in general.

Well, you are thinking of telling to these savers to just invest their money into Bitcoin instead of saving it to banks right?
I can't blame those who wants to save their money into banks because maybe they are lacking of financial literacy thus, they grow up with a mindset of "Save all of the money into our banks".

Another one is there are some savers who can't take the risk of investing into Bitcoin. Do you expect that all of these savers can take the risk of holding an asset that goes up massively, but goes down massively? Do you expect that they will just be ok when they see their investment or in this case savings' account going down because of volatility? I don't think so. After all, there are some factors whether you will invest your money into Bitcoin, or to just let it save in banks. Those elders who are saving money into a bank can't take the risk of taking out their money from banks and put it into Bitcoin.

Hey mate you have spoken fine but I would remind you this that religious organizations are government recognized institutions, they are approved entities to operate as religious body not financial institution or financial advisors so therefore will not want to risk their license in going against the government as they are not certified financial experts. Although religious organizations have large followership, committed and devoted members but that does not mean that they would start telling about finance which I believe not all would accept. As we all know, this is a very sensitive matter as it has to do with financial investment and one needs to be careful when when it gets to this level of getting involved in religious activities. Your religious leaders would only advise you to seek the face of God before going into anything be it business etc but can not tell you where to invest because they too know how sensitive it is and are very careful about it so that you do not put your loss blame on them. Come to talk of it they are not financial experts so why going to them for such? Although they have influence over their members but that does not guarantee that members too would listen to them when it gets to that level as they too are very careful about their investment.

I think if you will use religion for that, it will give bitcoin kinda bad reputation cos it just sounds like manipulation. I think the best way to promote bitcoin is just to show its cons to people. There are still a lot of unbanked people in Africa who might need bitcoin or some people can use bitcoin or stables as a hedge against inflation or just an asset to invest in. Probably the best way to promote it is to just educate people about bitcoin and they will naturally start using it.

I don’t see any relevance bitcoin should be taught in a church just for the goal of promotion. Maybe outside the church it can be possibly done but never when the mass is still going on. Especially that bitcoin is not yet legalized in most countries so it might create a form of opposition on the people around knowing illegal things should never be introduced or promoted particularly from the mouth of religious leaders. So I think I have to disagree to OP that bitcoin should be promoted by religious leaders.

Your thoughts are correct mate because religion plays a pivotal role in the lives of almost every Nigerian. Religious leaders have so much followership that their followers sometimes obey them more than the government. I am sure that immediately after these churches announce that they can receive offerings and other donations in bitcoin, millions of their members might become aware of the currency. And it is possible that some of them might become interested in bitcoin. The only problem this suggestion will face is that banks are restricted from dealing with bitcoin. Most of them might be discouraged because of the Nigerian government's unfriendly attitude towards bitcoin.

Bitcoin is already a religion for a lot of people but i don't think that we should involve churches in it

For things to promote bitcoin by religious leaders in my opinion it is a strange thing and is not an effective step, basically they teach the meaning of life and matters of obligation and prohibition from God, of course they do not have any interest in spreading and explaining bitcoin to their people and more bitcoin is still said to be a new discovery, unlike their centuries-old understanding of religion, of course there will be contradictions if promotions are carried out by any religious leaders and there will be chaos with their adherents. As for religious leaders who are asked about bitcoin, they will definitely answer not on the substance of bitcoin but more on how useful bitcoin is for the people and whether it will be detrimental or not. I think they will only act whether or not bitcoin is used in a religious sect without carrying out any promotion.

There are many ways that we can do to promote bitcoin and introduce it to other people and usually, we only need to tell other people about what we have got through bitcoin. And usually, other people will be interested so they want to know more about bitcoin and some of them end up joining bitcoin.

And if you think your way of promoting bitcoin will work, you can do it anyway. And other people will surely find their own way of promoting bitcoin. What's important is that we don't force them to invest or use bitcoin and we only introduce them to what bitcoin is and how bitcoin can help them because we already get the benefits. Let them decide by themselves.

Bitcoin appreciates as you said, it also depreciates too, if you are going to promote bitcoin through religion I believe this is very wrong, financial investments must not be brought into the house of God, that's so wrong bro.

Also, what makes you think that all those people in the church or mosque will fully understand Bitcoin? Or even agree to invest in Bitcoin? It looks like forcing them to me, churches and mosques consist of older people too, they can't get involved because they don't and won't understand what bitcoin is all about.

This move can easily get you in a big mess if someone does something wrong, either when transacting with BTC or a massive dump happens after they invest in bitcoin, do you know how fast people condemn bitcoin and call it a scam?

I believe church should never be involved in any promotion regardless if it’s legal or illegal, because this may sound like manipulation of the minds of the people to do such things even when they aren’t supposed to do it. Most particularly for bitcoin since it’s a very risky investment, so if one should decide to invest in it, he should be knowledgeable enough and knows exactly the risks involved when investing in bitcoin. Otherwise, he’ll end up losing his hard earned money because of relying his decision from other people.