benzene00:
Doesn't change the fact that Bitcoin is going to the core earth >:


Dip

Keep Dreaming

light099:
Lame move.
Just one tweet from Elon Musk and your whole country finance is in jeopardy.

Why not create a stable digital currency like China?
Only a dummy puts a national faith in the volatility of cryptocurrency.
Crypto is only suitable for individual or private organization risk takers, not an official national thing.

The only thing that dips the price are panic sellers who follows Elon Musk's Tweets, with time, people would get over those nonsense Tweets.

yommen:


If you watch it closely, Ellon Musk's tweets will become useless in the nearest future since he is only playing mind games.

FACT

Ekez:
Our country ban crypto but our honorable minister dey trade am secretly �
Them dey deceive zombie everytime.
If you check am no buhari dey trade crypto

here in Nigeria anything that will lift the young generation out of poverty the will ban but secretly engage in it..

I will visit there next year

NOTED!!!!

CryptoRepublic1:


You guys are still not getting it,go and read the bill to have the full scope.

Price of goods is still in dollars, so when someone buys or sell,the goods will then be calculated in dollars,but if you chose to pay with btc it's then converted into dollars straight away if the seller so wish.

It's great moves from the country and many other countries will definitely follow suit soon.

I strongly believe that it'll attract a lot of investors to the country very soon.

I no longer have the strength to argue on Nairaland like before but it seems you're not getting the point nor the bill like you claimed.
The new regulation although says using Bitcoin would be optional but yet it is not optional for a firm or seller to accept it. So, if you sell cars, buyers may bring Bitcoin to clear your showroom and you MUST accept it.
Only a crypto novice wouldn't know there is big financial disaster on individual level, central bank and eventually the whole national level in a situation like this.
Then generally crypto transaction fee especially for BTC and ETH is making them more dumber than the FIAT they claimed to have edge over.

Maybe in the future crypto may be good for national adoption but for the moment, it's not the duty of any reasonable government to adopt it nationally, just leave individuals to decide for themselves if they're ready to be involved or not.
Crypto is personal not national.
Government should not adopt it, nor ban it.

safesurfer:
Goodluck to them. I can't have any opinion on the crypto debate. I'm too broke to have any. Too broke to invest in local currency, too broke to invest in crypto.
So if you're pro or anti-crypto, I don't care. Whatever rocks your boat.

Oops, I guess that counts as an opinion

Whats your level of education?

If you're a graduate, why not start an estate agency?

grandstar:


Whats your level of education?

If you're a graduate, why not start an estate agency?

Maybe sometime in the future. Except there's a way I can start without huge capital as a requirement. You can teach me. I don't mind. Thanks.

HonNL:

El Salvador has become the first country in the world to formally adopt Bitcoin as legal tender after President Nayib Bukele said Congress approved his landmark proposal.

Latin America’s youngest president, who’s known to break from norms, said on Twitter lawmakers approved the legislation by a “supermajority.”

The 39-year-old leader has previously said that Bitcoin could boost the economy, help counter El Salvador’s low banking penetration rate and facilitate faster transfers for $6 billion of remittances a year.

The high-stakes plan to ramp up usage of the volatile currency adds to the bull case, just as the token struggles to recover from last month’s dramatic rout.


Bloomberg

The danger of being a first-mover or adopter in a volatile instrument like BTC is that all that can go wrong will go wrong. BTC value eventually went south for some time, but the young President got reelected in February 2024 due to his massive crackdown on several alleged drug gangs and criminals thereby lowering that country's homicide rate from decades-long highs.

=>https://www.forbes.com/sites/digital-assets/2024/02/05/el-salvador-embraces-future-with-bitcoin-as-bukele-secures-historic-victory/

This story emphasizes the need to ONLY invest what you can afford to lose in volatile instruments, NEVER invest all your life savings. Period.