Post
Topic
Board Nigeria (Naija)
Re: What if the Bitcoin was in note?
by
DaNNy001
on 09/03/2024, 21:29:28 UTC

What if the Bitcoin was in notes and with the same value as it has now, do you think anyone would misplace it or even walk with it on the street. Eventually you see a Bitcoin note will you return it to the owner. Let's be sincere and also see it as fun.

One bitcoin is about 113, 000,000 in naira. Now the question is, do you see anyone who is going about with ₦113 million in their pockets or on their hands and walking aimlessly on the street or in public places? 

Gold is of great value; do you see people walking about aimlessly with tones of thousands of gold in the public? No! 

If Bitcoin were in cash, which is what you mean, there would still be ways of making it divisible into fractions, just like it is today. 

A huge tone of Gold can be divisible into small pieces of gold jewelry, and people can freely go around with it. Cash notes can also be divided into small amounts, which people can freely carry around and face no security threat. 
In addition, I think there would be a reserve bank for BTC if it were in cash. More ATM machines would be clearly visible and functional across all countries where it's being used.
It would also be taxed per individual if BTC were in cash.
Finally, the world would definitely become smaller with less boundaries because of a single significant BTC note, used in every country and for any transactions.
I also thought as much. But the real mater na say government for take charge the wey them dey manipulate binance exchange today. Binance exchange done already reach government say instead them go pay any taxes them go block p2p transactions from Nigerian users and ready them done do am. Now na the Nigerians dey suffer the suffer. I no agree make Bitcoin dey in note, even if Bitcoin gets em own ATM for this country, our government go won fund ways to manipulate them with tax payments and other things.