Quote from: Hatchy on August 07, 2025, 06:36:44 PM

Quote from: Charles-Tim on August 07, 2025, 08:17:02 AM

It will be good if bitcoin can be used in some institutions like in school for payment of school fees. According to what happened in El Salvador after the country accepted bitcoin a legal tender, it showed that bitcoin will not compete with local currency. But do not expect our government to allow that because they will not recognize any currency than naira.

As for the use of stable coins, they should not accept it unless it is pegged or backed by naira. Just bitcoin should be allowed. But this that happen, I will wake up from my dream.

Lol. We will have to keep on dreaming because I don't see any of these even possible with the current Nigerian government. They only have eyes on what would benefit them not what would benefit the economy. Once they sight anything that the youths are using to survive,they try their very best to put obstacles on it.
What has sustained cryptocurrency till this day is because of how stubborn the youths are. The government has tried in so many ways to eliminate the use of crypto but we no dey hear word...they won't agree with anything that doesn't relate to naira because they know how they benefit from it.

Those people involved in the government are trying to strengthen their own economy instead of trying to strengthen the Naira. They know that they will not have control over a decentralized currency. They also know that if the people of the country are not trapped in the inflation trap, they will not be able to benefit from personal profitable projects and launder money abroad. The effect of long term inflation is that the Naira is depreciating, the value of the country's assets is decreasing while the wealth of one class is increasing unexpectedly and the poor are getting poorer.

The government is still making every effort to stop decentralized digital assets and due to the stubbornness of some of our youth, the desperate efforts to empower themselves financially, we are still in a significant position in the world in buying and holding these assets.