Priorities differ from person to person, 1 BTC as at the time of my replying this thread now is over 42 million naira. They want houses, cars and all those things which are good for them cos we think differently.
Now let me dream with you cos I know I don't have, and have no means of acquiring 1 BTC now, but it being in my possession, and bearing in mind that the next halving is possibly next year, I'll simply hodl it jealousy cos that my 1btc has the potential of turning into 3 ,4 or more btc during the bull run. I can now utilize like 2 BTC to better my life and still keep 2 for the next bull run.
What shall it profit me that I use the 1 BTC in purchasing material things and miss out on the bull run blessing??.
Topic: What to do with 1 BTC as a Nigerian - page 5. (Read 1211 times)
Like this OP make we comot joke like this, if I just see 1 Bitcoin or money wey amount to 1 Bitcoin I go turn Sabinus 😅 hehe..
If I'm to be in such possession I would hold better part of it in Bitcoin and use the rest make things much comfortable for myself and family but comot joke I go flex normally, still setup one or two investment aside Bitcoin wey go dey fetch me daily living.
If I'm to be in such possession I would hold better part of it in Bitcoin and use the rest make things much comfortable for myself and family but comot joke I go flex normally, still setup one or two investment aside Bitcoin wey go dey fetch me daily living.
Let me start by correcting you that the N27,110,056.50 exchanged value you came up with is a heresy, the actual value of 1 BTC in Nigerian Naira is way more than that. By my rough calculation of 1 BTC at $34,100 and $1 at N1155, we should still have a whopping N39,385,500 (34100x1155)N. My guess is that you used the official exchange rate, but this would only amount to a serious miscalculation as how many people dealing with Bitcoin use the official exchange rate for their BTC/USD to NGN exchange? I guess no one would do that since there is access to higher P2P rates. We are already dealing with an electronic payment system and this is where we get our fair exchange rate which is so close to the parallel market rate. No one would like to cheat themselves with the official rate while they have access to a better one. Or do you do otherwise?
However, those whom you call white might be in a very sane country where there is value in living and ease of making money. This is unlike Nigeria where we all know the hell being faced here. This is why we don't think like them as their country has provided a conducive environment for them, they can even use their 1BTC to buy a mere watch, but Nigerians must be smart.
Frankly, If I were in this shoe, I would divide the money into 3 parts. The first part would go for agriculture, the second part would go for business, and the third part would go for land acquisition. There are many other combination alternatives but this is a viable one that should have passed the gist well across. There is no need to waste my money on frivolities, all I need is to enjoy the necessary things of life in a moderate form which I believe the proceeds from the investments of the money could easily provide for me over time.
However, those whom you call white might be in a very sane country where there is value in living and ease of making money. This is unlike Nigeria where we all know the hell being faced here. This is why we don't think like them as their country has provided a conducive environment for them, they can even use their 1BTC to buy a mere watch, but Nigerians must be smart.
Frankly, If I were in this shoe, I would divide the money into 3 parts. The first part would go for agriculture, the second part would go for business, and the third part would go for land acquisition. There are many other combination alternatives but this is a viable one that should have passed the gist well across. There is no need to waste my money on frivolities, all I need is to enjoy the necessary things of life in a moderate form which I believe the proceeds from the investments of the money could easily provide for me over time.
It's no news that the economy of our country is draining day by day, leading to more Bitcoin advocates in the country. With the continuous hardship in the country, I bring to y'all this topic " what to do with 1 BTC as a Nigerian".
So, I once saw on a thread somewhere in the forum where these white people posted houses and cars they'd get if they had a Bitcoin and it varied from country to country. Decided to bring it to our board since we can all relate to the current price of 1 BTC which was recently over $34,000 and in our Naira currency is #27,110,056.50.
We really don't have to limit it to houses and cars only, just generally as a Nigerian what would you do with 1 BTC? Get a business, trade , hodl, real estate and many others...
So, I once saw on a thread somewhere in the forum where these white people posted houses and cars they'd get if they had a Bitcoin and it varied from country to country. Decided to bring it to our board since we can all relate to the current price of 1 BTC which was recently over $34,000 and in our Naira currency is #27,110,056.50.
We really don't have to limit it to houses and cars only, just generally as a Nigerian what would you do with 1 BTC? Get a business, trade , hodl, real estate and many others...
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