Quote from: sokani on Today at 08:04:12 PM

A remember back in days, if person wey dey obodo oyibo send you money, na always big challenge to collect the money, the process dey time consuming and this na after banks don carry out their verification checks. But Bitcoin don make everything dey easy for everyone, the transaction dey transparent, faster, better and e don eliminate the need for third party.

In addition, the fee is also expensive. Yes, I agree with this. One of them that you are referring to is wire transfer. Wire transfer can take days. There are some other ones but they are also costly just like wire transfer. Some people are referring to bitcoin transaction to be costly, but far cheaper than international fiat transactions.

Quote from: Coyster on Today at 08:19:26 PM

Having said that, generally Bitcoin no go help based on our current economical wahala, though Bitcoin fit serve as hedge for fiat inflation and e go fit give you ROI if you invest and hodl for the long term, but Bitcoin no go fit make the economy better generally, that one no follow for one of its use cases.

Not a single thing that will help the economy, but all will be combined to make a good economy. If Nigeria government force those exchanges to have offices in Nigeria, have some workers from Nigeria and regulate them like banks and using them to generate internal revenue, it would have been better.

To some extent, bitcoin is helping some people involved in bitcoin trading like P2P and making money from it and contributing to the economy. If someone make money from a business (which can be bitcoin business or related), the person will buy goods more and give works to people for the people to render their services. Which means this can help in increasing production, but it is left to the government on how they make citizens produce the goods and services locally, or keeping on depending on imported products and services.