Topic: Will Nigeria Come Late to the Bitcoin Party? - page 2. (Read 259 times)
Regulation will also be the problem in their country just like what is happening in India, the only difference is that Nigeria is late. They are having a hard time prioritizing or allocating some time to make cryptocurrency enter or work in their economy and the market and that's what most of the countries are experiencing. Bitcoin is being adopted in most part of the world especially in Asia and America, and I know that Nigeria will just go with the flow if the government or the authority supports it with their full power.
Every third world country is facing the same issue. Government are not helpful at all and do not have any knowledge about cryptocurrency. They think it is being used for only illegal activities. If government are helpfull then only you will find entrepreneurs coming up with new projects. Untill then the situation will remain like this.
The problem with third world country is they are like that because the elected leaders at those countries are corrupt or incompetent. Nigeria will never be late to the party despite the ban, I think that the people of Nigeria will still be using bitcoin and other cryptocurrency. Only way that the situation will change is if the people were to act on it and choose who will lead them and that chosen leader is a competent. 
Every third world country is facing the same issue. Government are not helpful at all and do not have any knowledge about cryptocurrency. They think it is being used for only illegal activities. If government are helpfull then only you will find entrepreneurs coming up with new projects. Untill then the situation will remain like this.
What the country lacks in technological hardware, is compensated with the knowledge of the people in that country regarding technology. Seriously, Nigerians are very good with technology and coding, and oftentimes the skills are put to bad use courtesy of scamming and online theft, but imagine if the countrymen will be given the chance to prove themselves, they may even become pioneers of technology
Well, perhaps this is one of the reasons why they ban bitcoin recently.Their government's leadership has no knowledge of what is bitcoin or cryptocurrencies in general, --lack knowledge about this technology because they always think that it becomes a threat to their economy towards illegal activities or perhaps support terrorist activities without knowing them. However, later on, they lifted the ban because they realized this an asset but the problem is people cant do trading using bitcoin. But there is an alternative solution for that, P2P and decentralized exchange.
What the country lacks in technological hardware, is compensated with the knowledge of the people in that country regarding technology. Seriously, Nigerians are very good with technology and coding, and oftentimes the skills are put to bad use courtesy of scamming and online theft, but imagine if the countrymen will be given the chance to prove themselves, they may even become pioneers of technology
With the way the Nigeria government is regulating crypto transaction, will the country be late to the btc exciting and rewarding party?
When the central bank of Nigeria banned bitcoin, did you see any drop of bitcoin price? It is not possible because Nigerians still make use of bitcoin. There are many active p2p market that Nigerians have moved to now which is better than bank transactions. Better thank bank trasacrions because no charges by bank but p2p directly. If you think Nigerians are not buying bitcoin, you are not thinking about it rightly or someone is deceiving.The price of BTC wasn't affected when their government announced the crypto transaction regulation, looks unstoppable. They will find a way to still keep going when they are used to it for a long time, I guess they can always circumvent the system. Binance p2p is also helping as it still allows the Nigerians to make transactions. It won;t stop them from crashing a party.
In terms of technology associated growth, Nigeria has a big part when it comes to African countries. Most of the African countries wealth were evaded, and people are kept under control. Another thing is the corruption. Based on several of these issues the young population is growing much adoptive to the technology, believing that they can overcome all the difficulties. Nigeria and Nigerians aren't late the bitcoin party. These are the people who use bitcoin on business transactions on large scale purchase than other people.
Have you ever seen a developing country lead a technological revolution? I have not seen it happen; they always take the back seat of every revolution.
But, there is something special about Nigeria; it is a country that has what it takes to lead the cryptocurrency revolution.
You may be asking how I know this. The answer is very simple. The youth population are very active when it comes to entrepreneurship and digital activities.
Here are three examples;
1. They used Twitter, Reditt and other social media to mobilise resourses and people during the #EndSars protest.
2. The is country leading the Crypto transaction in Africa is Nigeria by Google trends ranking.
3. We have some digital entrepreneurs in the crypto space with interesting innovations.
Well, as Elon Musk said that “he was late to the bitcoin party”, but we have seen that he was not late to the party, if Tesla invested $1.5bn at $38K/btc into btc and it current price is above $50k/btc, do we call that lateness or first mover benefit?
With the way the Nigeria government is regulating crypto transaction, will the country be late to the btc exciting and rewarding party?
Just buying and selling or holding Bitcoin will not lead Nigeria to Bitcoin party. It should be pioneer to accept btc as digital currency. More and more local businesses must start accepting btc. But, there is something special about Nigeria; it is a country that has what it takes to lead the cryptocurrency revolution.
You may be asking how I know this. The answer is very simple. The youth population are very active when it comes to entrepreneurship and digital activities.
Here are three examples;
1. They used Twitter, Reditt and other social media to mobilise resourses and people during the #EndSars protest.
2. The is country leading the Crypto transaction in Africa is Nigeria by Google trends ranking.
3. We have some digital entrepreneurs in the crypto space with interesting innovations.
Well, as Elon Musk said that “he was late to the bitcoin party”, but we have seen that he was not late to the party, if Tesla invested $1.5bn at $38K/btc into btc and it current price is above $50k/btc, do we call that lateness or first mover benefit?
With the way the Nigeria government is regulating crypto transaction, will the country be late to the btc exciting and rewarding party?
With the way the Nigeria government is regulating crypto transaction, will the country be late to the btc exciting and rewarding party?
When the central bank of Nigeria banned bitcoin, did you see any drop of bitcoin price? It is not possible because Nigerians still make use of bitcoin. There are many active p2p market that Nigerians have moved to now which is better than bank transactions. Better thank bank trasacrions because no charges by bank but p2p directly. If you think Nigerians are not buying bitcoin, you are not thinking about it rightly or someone is deceiving. -snip-
But, there is something special about Nigeria; it is a country that has what it takes to lead the cryptocurrency revolution.
You may be asking how I know this. The answer is very simple. The youth population are very active when it comes to entrepreneurship and digital activities.
-snip-
But, there is something special about Nigeria; it is a country that has what it takes to lead the cryptocurrency revolution.
You may be asking how I know this. The answer is very simple. The youth population are very active when it comes to entrepreneurship and digital activities.
-snip-
Nigeria, Kenya, and South Africa become the leader of the cryptocurrency adoption in Africa.
according to chainalysis’ 2020 global crypto adoption index,
Nigeria was on the list of top countries with a high index of cryptocurrency adoption.
https://news.bitcoin.com/ukraine-russia-south-africa-nigeria-cryptocurrency-adoption/
I used to be a promoter for several online businesses. I saw many Nigerians and Indians became the leader in almost all those online businesses.
So yeah, your statement is valid for me.
What is happening to Nigeria kind of leadership is lack of understanding of cryptocurrency network, because the country called Nigeria is not first country that indulged in cryptocurrency and is not second or neither third country into crypto,many countries has been practicing cryptocurrency transactions couple with their fiat currency and no issues, it's Nigeria central bank that's emphasising on crypto while others countries who are using bitcoin like USA and ASIA, cryptocurrency has is not be affecting their Fiat currency, in summary everything in Nigerian is all about seriousness, the way I seen their reaction towards crypto.
Have you ever seen a developing country lead a technological revolution? I have not seen it happen; they always take the back seat of every revolution.
But, there is something special about Nigeria; it is a country that has what it takes to lead the cryptocurrency revolution.
You may be asking how I know this. The answer is very simple. The youth population are very active when it comes to entrepreneurship and digital activities.
Here are three examples;
1. They used Twitter, Reditt and other social media to mobilise resourses and people during the #EndSars protest.
2. The is country leading the Crypto transaction in Africa is Nigeria by Google trends ranking.
3. We have some digital entrepreneurs in the crypto space with interesting innovations.
Well, as Elon Musk said that “he was late to the bitcoin party”, but we have seen that he was not late to the party, if Tesla invested $1.5bn at $38K/btc into btc and it current price is above $50k/btc, do we call that lateness or first mover benefit?
With the way the Nigeria government is regulating crypto transaction, will the country be late to the btc exciting and rewarding party?
But, there is something special about Nigeria; it is a country that has what it takes to lead the cryptocurrency revolution.
You may be asking how I know this. The answer is very simple. The youth population are very active when it comes to entrepreneurship and digital activities.
Here are three examples;
1. They used Twitter, Reditt and other social media to mobilise resourses and people during the #EndSars protest.
2. The is country leading the Crypto transaction in Africa is Nigeria by Google trends ranking.
3. We have some digital entrepreneurs in the crypto space with interesting innovations.
Well, as Elon Musk said that “he was late to the bitcoin party”, but we have seen that he was not late to the party, if Tesla invested $1.5bn at $38K/btc into btc and it current price is above $50k/btc, do we call that lateness or first mover benefit?
With the way the Nigeria government is regulating crypto transaction, will the country be late to the btc exciting and rewarding party?
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