Post
Topic
Board Nigeria (Naija)
Re: Bitcoin fixes this
by
Bitco55
on 22/08/2024, 12:09:57 UTC
I think Bitcoin can, whether directly or indirectly help solve, if not all, then most of these problems.

Bitcoin, is an alternative money and serves as an asset for investments.

Inflation: this might as well be the number 1 problem Bitcoin can actually solve. Savings and investments even in the bank would reduce the amount of money in circulation, which causes inflation. Investing in Bitcoin would also do the same.

Currency devaluation: this is an effect of inflation, so if there's no inflation, the currency's value would not decrease.

Unemployment: this is very literal, as many of our youth sef don't have jobs but still survive on crypto trading, investments and forex too.

Dependence on oil: be it by the government or by the private individuals, money invested over time can be liquidated in order to start businesses. The fact that our country only depends on oil means that were not just far behind in agriculture but in manufacturing too. We import and import to the extent that we can't produce any thing. If we don't want to depend on oil, we should be ready to place our dependence on something else, and that something else isn't just Agriculture, but production and manufacturing too.

Poor infrastructure: Bitcoin doesn't directly solve this problem, but when there are more companies, there would be need for development. This development happens through infrastructure.

Bitcoin doesn't directly solve most of this problems, but money gotten from it can.