Topic: What to do with 1 BTC as a Nigerian - page 3. (Read 1211 times)

Op actually in regards to our current economy depreciation of currency and value of things one BTC can still change life if beginner who invented it Wise mostly on the commodity that is always needed by the people , I see that agriculture is one major commodity that eventually human can't do with as long life is in concerned human must eat food you can invest in agriculture, example potatoes production where you can get finished product in form floor well package, even pig farming. But relating this in another dimension everyone hard their needs and desire differs what becomes your plan or dream may not actually be for another I believe that one BTC can actually changed a narrative of one without a good begining to a greater height depending on the type of investment in which it's put on, because not all investment is actually yielding result due to economy breakdown so in a time like this current economy you need invest in line with the current need if the people to get the required result.

Op wetin I go use 1btc as a Nigerian do depend on the kind of life wey I dey Live now. If I'm poor and struggling to survive I will definitely sell and improve my life to suit me, then I will invest in landed properties, invest in my country by opening a company regardless of its situation (it could be satchet water factory) at least it will help take a few youths off the street and lastly I will invest in Bitcoin through the DIP.

But if I'm rice or an average Nigerian that can afford things for myself and everyone around me then I will continue to hold on to my 1btc till the Bull comes because I know I will make more profit during the bull run.

With the current price of Bitcoin at around $60,800, if you convert it to our local Naira, the money will be around 97,505,000 Naira, which a huge amount of money, and in Nigeria if you have this amount of money, you are rich and you can handle good business, but with this current economic situation, there are several reasons why business will not mover very fast because the government officials are also into business and are very selfish, they want all money to be among them and no one else.

If you have one Bitcoin, the best advise I can give is to keep holding your Bitcoin because buying shares with banks or any centralized authority is another means of centralization, and bringing out huge amount of money can lead you to thorough investigation through EFCC and other government security bodies, therefore, Leaving your money in Bitcoin is a good investment on its own, I don't think withdrawing the Bitcoin is good solution, unless if you have a good business plan you are convinced on, you can withdraw some certain percentage and I will not advice you to withdraw all your Bitcoin because it is a store of value against inflation.

Our currency devaluation makes business to become liability to small capital business people because to earn a leaving alone is something very difficult in our dear country.

Farming can be a good option if you have land to farm or if you have a place to rent land for farming. But here in the northern part of Nigeria, we have been suffering and battling with insecurity which makes farming a bit difficult for us to invest in, but farming is very good because the country needs food to survive.

If the land is in a good area, in future you will benefit more from the house that you built for rent. I will also set up a big farm because hunger is the problem that we are facing in the country since Tinubu administration took over from the old one. Farming is a very lucrative business now because food stuffs are very expensive and the cost of eating a good food in the restaurant is expensive too.

I would not sell all my bitcoin but I will keep some because bitcoin is also a good investment to keep value in because I believe that it will generate more profit than house property.

Nothing much as I feel 1 bitcoin with the current price if equated to Naira today will used them to buy few landed property also used the money to build and rent it out to people which would further keep generating money for me till life time. It's a kind of investment that would last for years even till my disappearance on Earth. However, I would still keep percentage in bitcoin because I know it would increase more than this in time to come.

I will diversify my money into at least 3 streams of incomes. I have the philosophy of the Garden of Eden. As the 4 streams flowered in the Eden and watered the Garden of Eden, so will I divide my streams of income into 3 to 4 based on the resources available at my own disposal. 1 BTC is worth over 94 million naira today, so if I was meant to do business with it, I will divide the funds into 4 places.

The highest percentage of it will left in my wallet, I will use one share of the money to invest in real estate business, either by acquiring a property worth 25 million naira in a rapidly growing suburban area within Abuja. Another part of the will go into investing in my PR Company where I intend to upscale the business through acquiring a bigger and more physical office in Abuja to enable me carry out my academy. Thirdly, I will invest some part of the money into my apparel brand.

In conclusion I will do a whole lot if I get 1 BTC at this current rate and price now and I don’t even know how come I’m just seeing now since 2023 but I guess it was the period I wasn’t active on the local board but frankly if I get 1 bitcoin at the current rate and price, I will split the money into two equal halves and leaving one half to yield more profit as I wouldn’t want to be left out of the other blessings and opportunities that comes with it and the other halve will be brought to the physical world as you’ll agree with me that, you need to be alright in the physical world to be performing efficiently in the digital world and as such I will use the other halve to fix my life and put myself in position that I wouldn’t have to touch and bother about the other half thy I will be holding.

First you suppose know say bitcoin don pass dat amount noow for market so you no go fit get bitcoin for $34k again, currrrently,  e dey around $55-$62k dem and of a truth, that no be small money for we country and if person hold dat kain funds for we country, dem fit dey call am pablo sef lol. That kain amount fit buy beter things for anybody wey get am for we country now, one of d thing wey dat kain amount fit buy person for we country now na motor, house, and oda things wey be say personneeed to survive.

Me enh if dat kain money enter my hand wey be say e huge like dat, i know say e fit buy me house and motor oh but no be wetin i go rush go buy be dat based on say if i buy am finish, at the end of the day, e go be say i go just go broke make i for find anoda money make i for use fuel d car and to fit dey survive for the house. me fes na to sharp sharply go use am set up one business because i belive sy money we dey inside business fit later born  more children wey be say go be more money for me but if i go buy house fes and motor, na d end be dat.

I just come across the post today, what one bitcoin can do, let me view it as Nigerian, this one bitcoin now when you convert to Nigeria naira is about 96,841, 653,00  according to my own research, looking at this money now is a lot of money,  as a Nigerian actually this money can really go a long way, the first  comes to my mind is to invest in many businesses to generate more of it, it good not bad, but today when I'm member of bitcoin forum what comes to my mind is to keep it for feature use, what I mean by feature use, for me to invest it into businesses that I don't really know the outcome to avoid regret,

But when I keep bitcoin for a long period of time I know bitcoin price can change at anytime that can add more money to it, infact if I have bitcoin I can't advise my self to sell it because I know something bigger will come out if it,
    One bitcoin can really go a long way.

you can do better than bumping the board with series of back to back questions on same thread while you appear to already have the answer to what you're asking. You just adviced someone to keep holding to his 1 BTC and here you are on same thread asking the same question you assume to have knowledge of.

These are the kind of things newbies do that attract criticism and then you come out to express yourself as though you've been attacked. The forum is open enough to house you but as a starter you've got to start off in good terms so you don't miss it even right from the onset. If you have questions  or clarification on how to get started with Bitcoin and if it's right to still buy now, you can make use of the Beginners and help section or go to the speculation board which should give you all the needed information and guidance that will be a good booster for you to navigate effectively through the forum and to also invest wisely using strategies that's effective and according enough for your class of investor.

There are many things you can do with one bitcoin but before I will give you my opinion, I want to chip in something about the economy. Everyday, we complain that the country is getting hard day by day because of the new policy implementation but do you know that as policy change, the economy favoritism changes too and it's changing from group to another group, so anytime we complain that the economy is not favorable, just know that there are people that are making millions in that hardship others are complaining about, it is left for  you to make use of the same opportunities that group are using to make money, that is how the economy changes and it's okay for change to occur.

---

If you are given a single bitcoin, the next line of actions comes from how well to do you were before the bitcoin was given to you. If you are financially buoyant and very okay, it will be very easy to hold it without looking at it for a long time but if you are hungry man that has financial challenges that can barely eat 3 squire meal, the first thing that will come to your head is how to spend that bitcoin. A hungry man cannot be holding money for investment and be thinking of investment, it will not work.

However, even if I'm not financially okay, I will not spend everything. I mean look at how bitcoin went to $58k+, if that should happen again, I will sell like 15% sats and take care of myself because health is wealth and I will sell the rest at all time high and then wait for the price to retrace again and then buy back, if the price retrace even lower, I may be able to have more than a bitcoin next time when I buy it.

I barely understand the contexts of your post after I was enticed by the topic but bringing in here the threads of the similar thread from the other boards as you said you had paved a much understandable backup for you.

However, if you mean to ask what I would do with 1BTC or having the money equivalent to 1BTC, that is not a thought for just Nigerians alone but basically for anyone who owns Bitcoin both home and abroad just as you briefly entailed "the foreigners who talked about owning a car and houses if got 1BTC".

I honestly does not see an average citizen in Nigeria with the current hardened economy being able to own 1BTC or equivalent. Hungry dey oh. Unless there is an overnight supersonic bull-run in the market value.
So eventually I have such a stake, I would set up an algorithm fundamental obligations by diversifying my investments including essential liabilities because it has been on a long time budget but doesn't mean to living a luxurious life considering the peak of a savage poverty

Hence, the fear of poverty would be my ring tunes to avoid "once upon a time I was rich". This singularly would be served as significant gearing-up to Invest in my financial growth and not settling for less.

I know those threads from other boards and it remembers me of a well-known saying:
Don't dream for success but work for it!

Dreaming might be pleasure but it is unproductive waste of time which you could otherwise use to learn something new, improve yourself or do something good to your family and friends.

---

As an outsider, i have some difficulties in understanding the Naira problem:
As mentioned above i already noticed that there are two prices for USD/Naira the offical one and the real one. Therefore the Bitcoin Price in Nigeria (corresponding to the official rate) seems to be much highter for the rest of the world. Is that valid for all commodities?  
For example gold: how much gold could i buy as a nigerian for 1 BTC?

What more can we say than to set up a business that generate daily income that will help us reinvest on bitcoins.  The idea of buying those things as desired by the white is unwise. That will bring me back to a story I read about, a musician used 20million naira to build a house and another man use thesame amount of money to start a bank. After many years, the owner of bank turned to multi billionaire while the musician house has become a dilapidated building. At the stage of world economy now, no normal human being will prioritize extravagant life to real investment. As far as Nigeria is concerned,  1bitcoins Is enough to start a medium scale enterprise.

As for me, this are the list of business I will venture into
1. Satchet water factory
2. Bottle water production
3. Poultry and fishery
4. Provisions
5. Selling of materials : electrical, bricklayer, plumber, aluminum glass, abestos, doors materials.

Bros na truth you talk but the real matter be say if that kind money enter  my hand I go try as much as possible to make the best out of it. I know the body need flexing to we all have that gene in us good life vibes 😄  1 BTC no be here oooh I see person life don change be that ooo , I go just get one kind business when go dey bring more income.becuse the way the country dey go before the change we dey look for go come we don suffer taya.

As a Nigerian that  faces different kind of challenges, there are quantum of things I will do with 1BTC, Omo  I will try to impact positively on the economy to the extent my strength will carry me, because I can only do my best. I will as well touch the lives of the less privileged in our society. That money in our local currency is big, so my impact in the society too will be big.

Nah true you talk, even some places self, you fit use you one BTC do enough things for your self, like from bachelors to married man, buy a car, buy a house and also launch a new business that will also fetch more money for you, your plans are good ones and hope you can stick to it by hold fore dear life, however it is not an easy task to hold or accumulate Bitcoin till 1btc but with discipline and constant income that you are getting from your job you can easily achieve 1 BTC in a twinkle of an eye (dey play).

Op, if I get 1BTC now, I go divide the BTC into two equal parts, I go still dey hodl one part for bitcoin so that if bull run comes I go make a better profit and I go convert the second part to Naira to use start business so that I go dey see wey tin I go carry dey hold myself and dey wait for the bull run to come. From that business wey, I go start I go dey take money dey buy bitcoin small small with the DCA strategy. Because if I say make in hodl the 1 BTC and I no get anything way go dey give me money to survive daily, when hunger go hold me, I no go get any other choice than to go sell my bitcoin to fit see money to use chop food even when the Bitcoin done dump for price self. But if I dey financially okay, who I be to sell my 1BTC? wey dey very hard to get now, I go hodl the 1BTC until in give money wey go give me my financial freedom. After the 1BTC done gives me the financial freedom I fit decide to enjoy my life anyhow because the money done long.

Omo the money huge ooh but even if say things they cost well well for this country but if I get 1BTC omo things way I go use am do go plenty ooh, first I go use am go collect better house German standard, for my state the price go they like 19 to 21 million.

Then the remaining ones I go use am for investment way go they yield better profits on daily or weekly basis for me, omo getting that kind money your life done sweet ooh waiting person they find again na, na to just they your office they run your business.

Omo 1 BTC for Naija now na big money o. For PH where I base, you fit use the money for 1BTC achieve plenty things them. E get some kind houses them wey be N28m and some even dey N20m. So person wey get 1 BTC like this don become landlord for PH and untop of that some money go still remain to fit do other things them like start up a business or buy a car or even both of them.

If na only business person wan take 1BTC open ehh, na better plaza person go arrange o. You fit use the money take bring better container from China if you sabi the road.

Those Naija Bitcoin millionaires them dey live large now o... we go reach their sha na small small.