Topic: Which sector fit drive di adoption of bitcoin pass for Nigeria (Read 346 times)

My brother you don talk everything finish, because na so so stingy and selfish government wey we get but although when it comes to them not agreeing with the acceptance of Bitcoin in the world them no dey alone which is practically bad. We the individuals and citizen nai dey actually promote spread and use of Bitcoin because of how beneficial e be to us and believe me if to the government actually allow the use of crypto everywhere e for good well and many Nigerians for explode with many business idea wey involves the use of crypto.

Wetting I wan yarn you be say government wey we dey talk every day both public and private sector na me an you, so adopting crypto currency dey sure because na me an you go make am possible. The decision of the masses can not be overemphasized. because even if president fuck up today the masses can decide say we no need am. Although not for Nigeria. But wetting make me say bitcoin go dey generally accepted soon na because people dey lean about Bitcoin every day and many transaction na for bitcoin.

Sorry to say this, most of this cyber criminals are into Bitcoin and as Dem dey cash out, Dem dey receive in Bitcoin there buy making it popular. Politicians Dem too dey embesled money dey hide insed Bitcoin so that EFCC no fit prob them. All the set of people ona dey talk dey here. politicians, public and private sector, Yahoo, etc and every body is awear but na just time e go take.

For me I no too much boder myself for the matter,  because to every problem there is always a solution. Provided say we fit exchange our Bitcoin to fiat no problem. but were e for be problem na when person no ft make use of am in any way, na there I for too reason am. Morover if government remove the ban for bitcoin we fit complain say we for dey manage am de way e Been dey before. because anything government toch hand don corrupt like virus..

Entertainment industry can make Bitcoin adoption go viral for naija. Just imagine say then say make we vote with bitcoins for a particular wallet address, that one go make more people find out wetin be bitcoins and the usage. If for instance your favourite artist they contest and person need vote with bitcoins, people wey no get wallet go quick open account , learn more about bitcoins and also participate for the event.

If you dey wait for the public sector aka government to drive the adoption of Bitcoin for our country, you go wait tire. You don forget say Naija na copy copy people dey rule us? As e be say American and UK government never put body fully for Bitcoin, no expect say our government go think go that side. I know say once once them go dey talk dey mention Bitcoin and Blockchain technology, but since them dey speak grammar you don see them do anything wey show say them ready reason the adoption? E go shock you say if one big country make Bitcoin a legal tender, come dey use am well for their country, Naija go copy.

If we want make Bitcoin go far for Nigeria, na the private sector go drive am. Normally, Naija love news and things wey dey trend. The moment plenty privately owned businesses start to dey accept Bitcoin, I mean big name them, you go see our government go begin shake body go that side. Untop of that, plenty people go begin dey reason Bitcoin. Na private sector dey make things happen for Nigeria no be government.

Na true say na di public sector hold di key for di mass adoption of bitcoin for di country, because na dem de collect di mandatory payments for di country, like tax and different revenues. So if dem adopt bitcoin as an alternative payment, na im go drive di publicity pass. People de normally follow government directives pass for everywhere, because dem no wan break di law and dem wan de sure say di thing no get gbege for di country.

Aldo dis matter suppose be a challenge for di private  sector to wake up and no de wait for government to de take lead in everything. Dem sef fit try and adopt bitcoin, if government kick against am, den dem fit stop. Because sometimes di government need to see di progress of some things from di private sectors, for dem to wake up and endorse di mass adoption.

True talk my broda,it is the public sector that will help in the adoption of bitcoin faster when they start accepting it as an alternative payment in schools, light bills and for house rents. Since it is the government, it will make many people to have strong belief in it and in no time almost everyone in Nigeria will be a bitcoin investor. You know say we Nigeria like new thing and make government come back am up,e do finish.

On the other hand, if the government doesn't want to give support to bitcoin adoption,it is left for the private sector to use their own strategy to help in bitcoin adoption by introducing it in their business and an alternative means of private. This is increase the adoption but slow and steady,unlike that of the public sector that will increase significantly.

Na nice post wey you drop op and na true say na public sector go really give puah to the usage of bitcoin because if schools begin get bitcoin as payment option for their portals then even students wey dey for the school self go begin publicly do their P2P. If you see bitcoin for remita when you want pay for government bill or tax then that one mean say adoption don start be that na and hodlers go dey shout hallelujah but my brother....  naija government no fit try am. Dem no even know how to go about it just incase other countries start am and them follow them. We get inefficient government or people in government, therefore every thing just dey go left left. Naija government na copy copy and them no dey copy well, so even if technologically developed countries begin adopt am, naija government own go be mess up .

My people eehh... I dey wonder sometimes since our Fed. Govt. dey always like copy copy from abroad y dem never still copy to authorize the acceptance of dis same cryptocurrencies, BTC a beta hand of contact.
Publicly dem go say dem dey protect the interest of the masses but deep within dem na big lie.
Dem know how e to benefit the common People for the country maybe na why dem no gree adopt am cuz tins really don fall apart 4 dis contry making us 2 bliv say d govt no dey tink gud 4 d masses.
When oyibo do dem go use am as a reference want folo do too. Oya na make dem copy folo do diz 1 dem locked up like evil doers & enemies of progress and looking at it, na dia most of dem dey hide their loots probably dem dey try deny access to be investigated dia somedays in the future.

Yes true na the Federal sectors hold substance to fuel the wide pressure range of Cryptocurrency acceptance on a general overview.
But com to tink of it, na we still dey get d mentality say make we no wait 4 d govt cos dem no owe us bt owes ourselves so other hands, I tink the private sectors too get a strong role to hold onto towards cryptocurrencies BTC specifically in here 4 our society.
Well... I think na just lack of Crypto educational knowledges dey cus most of these private sectors setback not to fit welcome and accepts cryptos as means of payments due to legitimacies and Fraudulence believes and doubts.
And they could also lack the  aids to stare at a staking of any BTC payment received could earn an interest or dividends on high rates. Though could require a lucky time or preferably patient commitments to a period of time after lockup your crypto in the blockchain while expecting a maturity of an increments with with the stamina encouragement that BTC is a decentralized crypto currency where you are subjected to behold the risk and securities of keeping your crypto to an exchange
Food for thoughts. Let's privately take this lead on our own private sectors that the Fed. Govt had tried to blind fold us in.

Op you made a good point here, the government has made this impossible, Our government is bent on killing ideas, is not as if they don't know all this, but they prefer controlling all the monetary aspects, they don't want any other means, but I must tell you some of our government officials are into crypto and they understand bitcoin more than we do, but they can opt for it, because they see it as a danger, remember bitcoin is decentralized, meaning that it can not be censored or controlled by any entity or institution, just imagine when you can perform all your transactions both purchasing of things online, payment of electricity bills, airline tickets, etc, that's to say that the cash itself will be useless, your idea is in the right track but the people in the helm of affairs, will not buy this idea because of their selfish motives, our government want a total control of their citizens, so this won't be a good option for them.

Dis bitcoin adoption of a tin ba, no be something wey go hard for our government to do oo, but dem no just wan do am and dem no get excuse for am oda dan di decentralization wey d tin get. Even us wey dey get use am small small without any strict regulations for di use, na im bcos na di way wey many youths dey take use see food chop as dem di government no wan provide work for dem youths yet. Private sector no be any good option to make dis tin possible sef, na di government dey control di private sector, so if dem don gree, private sector no get choice dan to follow wetin di government don talk.


To put bitcoin payment as part of di method of payment for dis BRT buses and di train mile wey you talk about na very good idea but all dis things need better planning before dem go implement am before e go come dey misbehave if dem just introduce am without any proper consultations first. Since dem don already pass all dos stages now, and d government no put dat matter for front, e no go for dey possible. Las las na cost implications dem go come talk and no be big deal for government side. Dem no go do and na im be di koko here, but dis your idea make and e go really help.

Normal normal, government na bad business man and him no sabi manage business him only gud for regulatory policies side. So na only de private sector fit spread de adoption of bitcoin overnight like COVID-19 bin take spread. Na for the government to just giv a go ahead and leav de matta for private sector hand and dem go run am in a way wey be say e go choke evry corner for country.

Just tk time sit check all the sub sectors wey dey do well all na private sector na dem dey under starting from banks,  entertainment industry, radio/TV stations, schools, transportation and other plenty plenty other tins. But see common Nigeria airway government no fit maintain am buy those airways wey be private owners own under private sector dem dey operate all over the kwuantry and outside the kwuantry.

Thanks boss, as you trow more light on the matter, I reason your perspective say na di private sector fit to increase the awareness and adoption of bitcoin for inside di country pass di public sector. You really make valid point in terms of say na di private sector de boost our lucrative entertainment sector, but di question be say wetin de stop dem to adopt am as an alternative means of payment for dem shows and endorsements?  Why dem never think go bitcoin side? Abi dem never here about cryptocurrency before or dem no want to get anything to do with decentralized currency? The truth be say me I believe say na because our government never fully endorse cryptocurrency matter for di country, so dem probably de wait wen e go de conducive for dem to fully accept bitcoin. And me I believe say na when di government through dem public sector start to endorse bitcoin, na den dem go begin follow follow join di bandwagon.

Me I believe say di fear of government na di beginning of wisdom for our private sectors, because dem no want to offend di government. If no be so some of dem for don adopt bitcoin, as an alternative to naira. CBN restrictions and make government no de look into dem financial matter fit make dem de slack. Lastly i still believe say if di private sector first de accept bitcoin, dem go follow and e go became business as usual, all man do your pwn thing.

No be lie wey you talk. Nothing wey we Govt put hand dey ever work and I doubt say them go wan put body, since them know say e no go benefit them and means to thief funds no go dey.
I follow agree with this idea. Imagine if these show organizers and popular musicians begin accept payment of tickets for Bitcoin, the adoption go spread Wella.

True true, if such is done, Bitcoin go get popularity, but I doubt if such will be allowed, because our government go always want to be in charge and control of the masses finance, and as such go always prefer bank over Bitcoin

Yes, na true talk you yan so for here, because that for be a very good initiative if to say them been adopt Bitcoin as a means of payment for that newly commissioned train, and I bet you, because of that, many persons that have not had experience or known about what Bitcoin is all about would have picked interest, and wanting to know more about it. And likewise so would Bitcoin lovers from far and near would have come to give the train a trial, and explode the facility, and experience what it feels like using Bitcoin on a day-to-day transaction, which would have been a welcome development.

This one na wild thought because if this country wey we dey, if we dey wait for government to lead the way we go just old. Check out the sectors wey the government dey handle how e dey and the sectors wey dey private like entertainment. You go see big difference for this two sectors which is why my own belief na say na private sector for fit push this agenda. Private sectors for the country fit come together say dem wan dey accept Bitcoin and when the government see all the force wey this people carry dem go allow them. Imagine celebrities begin dey accept Bitcoin for their shows, concert, buying of their music etc na there adoption go explode pass all this government sectors.


Abeg oh, same facilities wey dem fit just wake up say dem no get the facilities to use process the transaction dem. If to say the country na place wey government things dey dey straight forward e for go well but since you no fit trust those wey dem put in charge to maintain this things e go just be another wasted development. You just imagine dem make stadium private and dis guys dey accept Bitcoin as payment to attempt any activity for the stadium whether na football match or other activities. Na privata sector sure pass abeg.

Make I yarn you.

The only sector that will drive adoption of Bitcoin is individuals and that is already happening on P2P. Nigerian they among countries wey they top bitcoin adoption for the world and this is to tell you that despite government restrictions, people use bitcoin daily without interfering with government, public or private entities.

Government stan will remain the same, they will not legalized bitcoin because the government wey get now, the same people wey ban banks from facilitating bitcoin transactions, this is just another government in another uniform but they are still the same father and mother, no difference.

I'm not sure about private organizations but adoption comes with use and use means you have to send and receive but private companies are not working in nigeria. The exchanges we have are all P2P and this is individual adoption from people who buy and sell bitcoin.

The public sector is probably the best sector when it comes mass adoption of anything not just Bitcoin, and I de sure for Bitcoin aspect, e go they easier as well but challenges go de.

Me and you know the kind government wey we get, and anything wey go make them no see money chop dem no de accept am, and you know say Bitcoin transaction can be tracked in the blockchain which will be transparent for everyone to see the amount of Bitcoin been sent to the government wallet address, and the government will not be that free to chop dat money because eye de d money, as a result that, dem no go gree.

I don reason di possibility of how we fit to de take bitcoin de make payments, just like naira, inside Nigeria. E come lead me to wonder weda na di private or public sector go fit to make am possible pass, at di end I come conclude say na di public sector, way be government establishments go fit to facilitate di acceptance of bitcoin pass. Dis na primarily because di private sector no get di kind centralized authority wey di public sector get, government fit wake up one day and decide say dem wan de collect bitcoin as an alternative to naira inside dem establshments. You go see say overnight bitcoin don get popularity be dat and di adoption go accelerate.

 Aldo as e be now I no see di possibility of di government say dem go adopt cryptocurrency, na through our banks dem go de facilitate di transactions. As we know di CBN restrictions on crypto matter still de ground, so dat one na very big set back.

 Lagos state government, don commission train to de run from Marina to mile 2, dem also put di transport fares, assuming say dem add bitcoin as an alternative means of payment, dat one for blow bitcoin usage for Lagos state. BRT buses get card wey passengers de load transport payments, if you wan enter di bus you go just hold di card in front of di card metre and your transport fate go deduct. So dis system for just suit bitcoin holders wey wan purchase transport fare. Dem no go worry about making bitcoin transfer for bus stop. Imaging if power distribution companies, NPA, public schools, government higher institutions, general hospitals and all government revenue generation agencies come approve bitcoin, di private sector go just respectfully, without much choice, follow de collect am.

So wetin you reason about di matter?