Can Nigerian Government also integrate the Establishment of a Bitcoin Reserve?

[UnDying]

To clear your doubt was there no type of promises made during the elections? Till date are the promises fulfilled?  We all know the country were we come from as they can use anything for campaign purposes to woo the electorates to casting their votes for them. I will not forget about the godfatherism aspect  as that is what wins election and believe me even the godfathers would advise their chosen to go to any extent to say anything just to win the heart of the electorates so they could have their way in.

In a campaign promise, there is immense expectations from the masses who believe that the promised thing will take place. In practise though, there are so many factors that influence for or against the leader being able to fulfil the promise: budget constraints, changing priorities, political challenges more complex than it might have initially been. The feelings among people would be disappointed when they are promised something only to be far from reality but the situation must be looked at in the wider context. Under some circumstances leaders are not able or will not take the time to keep the promises made because there are times beyond their control when promise fulfilment is difficult or impossible to achieve in the short term.

[Mia Chloe]

To clear your doubt was there no type of promises made during the elections? Till date are the promises fulfilled?  We all know the country were we come from as they can use anything for campaign purposes to woo the electorates to casting their votes for them.

The whole system is actually messed up and it's as if the citizens are already tired of complaining that they just automatically adjust to a more intense system. Electoral promises before leaders win is usually like that in a lot of places.

The inflation is getting unbreakable and moves are still not being made by the government to ensure it doesn't affect the economy and it's citizens too .

[Azharul]

I think nigeria is going to own Bitcoin reserves in the future but not now because we as a nation has not come to the full realization of what crypto currency is and how we can use it in terms of helping our economy , it's going to take time before we will get to the level of having crypto currency reserves because for now our main problem is still how we can stabilize our economy as a nation

Actually, your opinion is very prefer in this moment. We know that if any country can reserve bitcoin or any others crypto in cryptocurrency world, then it will be very helpful for earn best profit in cryptocurrency world. So if Nigerian government want to reserve bitcoin for remove there poverty, i think that it will be very wonderful decision for them. But i believe that nigerian government should go ahead infront gradually. Because we know that crypto currency world is also very risky space for any crypto users, if they can not achieve best knowledge in cryptocurrency market. So i believe that if nigerian government want to reserve bitcoin, i think that it will be correct decision for there government.

[DaNNy001]

To clear your doubt was there no type of promises made during the elections? Till date are the promises fulfilled?  We all know the country were we come from as they can use anything for campaign purposes to woo the electorates to casting their votes for them.

The whole system is actually messed up and it's as if the citizens are already tired of complaining that they just automatically adjust to a more intense system. Electoral promises before leaders win is usually like that in a lot of places.

The inflation is getting unbreakable and moves are still not being made by the government to ensure it doesn't affect the economy and it's citizens too .

It's basically called adaptation because that's the number one trait humans are best known for, because just imagine something that have been repeating itself for almost 5 decades and yet there is no solution to it, you would probably feel the best solution to this is actually just adapting to the whole outcome. Nigeria has been in shamble for as far as I can remember and the worse part is that for every new government the worst it get.

[Mia Chloe]

It's basically called adaptation because that's the number one trait humans are best known for, because just imagine something that have been repeating itself for almost 5 decades and yet there is no solution to it, you would probably feel the best solution to this is actually just adapting to the whole outcome.

Of course it can actually be referred to as adaptation but that doesn't actually mean it's right. The system is broken and everyone is pretty much silent about especially those that benefit from it, worse of all they support the ill system because of the benefits they enjoy.

Managing a broken system isn't the best approach. It's better to fix the system by taking action else the illness of the system will only get worse.

[Cryptsafe]

To clear your doubt was there no type of promises made during the elections? Till date are the promises fulfilled?  We all know the country were we come from as they can use anything for campaign purposes to woo the electorates to casting their votes for them.

The whole system is actually messed up and it's as if the citizens are already tired of complaining that they just automatically adjust to a more intense system. Electoral promises before leaders win is usually like that in a lot of places.

The inflation is getting unbreakable and moves are still not being made by the government to ensure it doesn't affect the economy and it's citizens too .

It's basically called adaptation because that's the number one trait humans are best known for, because just imagine something that have been repeating itself for almost 5 decades and yet there is no solution to it, you would probably feel the best solution to this is actually just adapting to the whole outcome. Nigeria has been in shamble for as far as I can remember and the worse part is that for every new government the worst it get.

Naija na dagbaru nothing fit fix things again for this country. To be frank with you, the system needs overhauling, not just a mere overhauling; it should cut across all the governmental sector as the case may be. Corruption has eaten so deep into the national system, and sincerely speaking, it takes bold steps to effect the change we desire. If we all come out to stage a walk against this messed up system in our dear beloved country, I believe things would get back to normal. Naija is far bigger than all these hulabalu she is going through, we need change in the system.

[zigabel]

I know say e dey funny shar but regarding our country Naija, una think say e go fit ever come to the mind of our government be it dis present one or the one to come, to find interest for this Bitcoin stuff?
And how una feel say d country go be if d government fit venture into something like dis?

Though we all know the situation of things and governmental mindset for here but na normal thing say we all go survive no matter what.

I just say make I create this topic to get una thoughts as dis na my first topic for this board.

One big problem wey pipo wey dey Nigerian government get na be say dem dey greedy and them dey like make e be say na them dey control everything so dat dem go dey fit collect dia share every time and e come Happen say Bitcoin no be something wey you fit just control and na why e be say dem dey fight am well well, if dem go ever wan do something like dis, dem go fes try to accept Bitcoin and stop to dey fight am so dat dem go get the chance to understand am and see how dem go fit use am help d economy of we country and fight inflation and boost our currency strength. no be say we no fit do something like dat but the mata be say greed no go gree dose men to wan do am because dem know say e go benefit so many pipo in a way wey be say dem no go fit control meanwhile dem go like control everything. even the US ifyou understand how dem wan use establish d reserve, u gosee say dem no just go pullout money from dia government go dey buy Bitcoin dey put for reserve, d way wey dem use do am na something wey Nigerian government too fit do, if you check d way wey we dey, we get plenty of d kain funds wey dem use, wey be say we fit use am run our own but dem no go gree do am as na something wey go goood for everbody and dem no go come dey get pipo wey go dey loyal dey worship dem politicians again.

[Mate2237]

Nigerian government is not crypto friendly to to establish bitcoin reserve. If Nigeria will established such, they have to cryptocurrency friendly and stop hunting crypto enthusiasts in the country. Di people wey e dey with the government sef e no dey advise to accept cryptocurrency. I never see di current president in Nigeria to mention cryptocurrency in any day and non of him advisers too.

So anything related to cryptocurrency e dey far from them so the adoption and legal tender of bitcoin e dey far from them.

[Gposas]

To clear your doubt was there no type of promises made during the elections? Till date are the promises fulfilled?  We all know the country were we come from as they can use anything for campaign purposes to woo the electorates to casting their votes for them.

The whole system is actually messed up and it's as if the citizens are already tired of complaining that they just automatically adjust to a more intense system. Electoral promises before leaders win is usually like that in a lot of places.

The inflation is getting unbreakable and moves are still not being made by the government to ensure it doesn't affect the economy and it's citizens too .

My broda, you're right.... The situation of the country turn every Nigerian citizens to Manager. Nobody really cares from the National Power about what the masses is facing and they don't even care about making things change for the better. Life if getting harder everyday, making citizens to find means of living anyhow.

The topic of Bitcoin Reserve was just a positive thought from me, imagining how it'd be like if the country was in the hands of a good ruler.

[Cryptsafe]

To clear your doubt was there no type of promises made during the elections? Till date are the promises fulfilled?  We all know the country were we come from as they can use anything for campaign purposes to woo the electorates to casting their votes for them.

The whole system is actually messed up and it's as if the citizens are already tired of complaining that they just automatically adjust to a more intense system. Electoral promises before leaders win is usually like that in a lot of places.

The inflation is getting unbreakable and moves are still not being made by the government to ensure it doesn't affect the economy and it's citizens too .

My broda, you're right.... The situation of the country turn every Nigerian citizens to Manager. Nobody really cares from the National Power about what the masses is facing and they don't even care about making things change for the better. Life if getting harder everyday, making citizens to find means of living anyhow.

The topic of Bitcoin Reserve was just a positive thought from me, imagining how it'd be like if the country was in the hands of a good ruler.

They do not care because they are just in power for their selfish interest and that is only what bothers them. Always looking for ways to embezzle the available resources so they can keep living their flamboyant lifestyle, which they can not maintain when they leave office. The masses are just fed up with all these lopsided leaders we have in our country and have started fending for themselves so they could survive the economy.

As for the bitcoin reserve, it is a good idea, but the leadership is what we have as an issue, although there is a video making rounds that the senate already approved cryptocurrency to be secure and that Nigerians can go ahead with crypto trading, the truth is that taxation is fast approaching and we should just wait for it and see how it goes.

[Asiska02]

I know say e dey funny shar but regarding our country Naija, una think say e go fit ever come to the mind of our government be it dis present one or the one to come, to find interest for this Bitcoin stuff?
And how una feel say d country go be if d government fit venture into something like dis?

Though we all know the situation of things and governmental mindset for here but na normal thing say we all go survive no matter what.

I just say make I create this topic to get una thoughts as dis na my first topic for this board.

Naija government are known to say them dey follow trends of things wey dey happen and as e dey be so, I dey sure say them fit don they reason am too and them go like to also have in mind when go well as it should be regarding that. The bitcoin market dey very addictive and base on say out government and US government na very close ally’s them be, them fit push them to also find internet in am as e dey be so. This one no be wetin I dey expect say e go happen soon, but with time, I know say things go begin unveil and many government go begin show interest more in this bitcoin of a thing and also consider this reserve matter too.

[Amug123]

I dey share your concern and curiosity about our government potential interest in bitcoin and digital asset, as we all know nigerian government has been slow in adopting new technologies and ideas,  but I believe say them fit surprise us with US government embracing bitcoin e go be wake up call for other nations including Naija. If our government decides to enter into bitcoin and digital asset, I think e go be game changer for our economy because e go provide new opportunities for investors, job creation and economic growth go dey boku.

[Stuart]

To clear your doubt was there no type of promises made during the elections? Till date are the promises fulfilled?  We all know the country were we come from as they can use anything for campaign purposes to woo the electorates to casting their votes for them.

The whole system is actually messed up and it's as if the citizens are already tired of complaining that they just automatically adjust to a more intense system. Electoral promises before leaders win is usually like that in a lot of places.

The inflation is getting unbreakable and moves are still not being made by the government to ensure it doesn't affect the economy and it's citizens too .

The economic situation is so f*cked up that the government no more concerned to know how to start tackling it, instead, they are more concerned with selfishness and putting the masses to a conjested situation, where no one can talk. Election campaigns are all bullshit, a system they use to gain votes and end up not looking back at anything they stated that will be implemented when they are elected for the position they contest for.

Nigerian government has no plans of making anything related to reserve, instead to acquire more which they can take to themselves before their tenure elapse. From one regime to the other, they keep taking loans, and no regime has ever worked on repaying the loans they've taken but keep requesting/demanding for more loans. None of the democratic government has ever talked anything related to reserve, not even the reserve of fiat. Cause, if there is reserve, there will be no need for seeking for loans. 

[Cryptsafe]

To clear your doubt was there no type of promises made during the elections? Till date are the promises fulfilled?  We all know the country were we come from as they can use anything for campaign purposes to woo the electorates to casting their votes for them.

The whole system is actually messed up and it's as if the citizens are already tired of complaining that they just automatically adjust to a more intense system. Electoral promises before leaders win is usually like that in a lot of places.

The inflation is getting unbreakable and moves are still not being made by the government to ensure it doesn't affect the economy and it's citizens too .

The economic situation is so f*cked up that the government no more concerned to know how to start tackling it, instead, they are more concerned with selfishness and putting the masses to a conjested situation, where no one can talk. Election campaigns are all bullshit, a system they use to gain votes and end up not looking back at anything they stated that will be implemented when they are elected for the position they contest for.

Nigerian government has no plans of making anything related to reserve, instead to acquire more which they can take to themselves before their tenure elapse. From one regime to the other, they keep taking loans, and no regime has ever worked on repaying the loans they've taken but keep requesting/demanding for more loans. None of the democratic government has ever talked anything related to reserve, not even the reserve of fiat. Cause, if there is reserve, there will be no need for seeking for loans.

Some people yearn for change in the polity, but they are limited to what they can do and depend on their superiors to carry out orders, which is not in line with their perspective, and they can not do anything about it. I have had interaction with government officials in the past and they were saying that whatever they think is perfect only stays with them and does not cross their level because the ogas would never think of it or dare to make or move any motion to implemet it as they would see it as a treat to them that is why they do not say anything much that seems to be a good idea when the power that be sees it as a threat to them.

As for the loan, it is now a culture for every government that comes into power to always borrow money from the World Bank, mortgaging the future of the country into debt for which they are not planning any repayment strategy. All they care about is borrow and steal, and nobody would dare say anything about it and this habit keeps repeating itself with any government that comes into power.

This nation is blessed with enough resources that it could do away with foreign aid and borrowing but the leadership is what it takes to fully maximize the potentials to do so. Unfortunately, our country is still where it is today and even worse than it was before. If our founding fathers could come back now to see the nation they once fought for, they would weep.

[Mia Chloe]

This nation is blessed with enough resources that it could do away with foreign aid and borrowing but the leadership is what it takes to fully maximize the potentials to do so. Unfortunately, our country is still where it is today and even worse than it was before. If our founding fathers could come back now to see the nation they once fought for, they would weep.

It's actually really disheartening to see the disconnect between the desire for change and the ability to implement it, especially when those in power prioritize their own interests over the well-being of the nation.

The culture of relying on foreign loans without a clear repayment strategy is a major concern, and it's bad that this pattern continues with each new government. Nigeria is rich in resources, but effective leadership is crucial to harnessing these resources for the nation's benefit. The fact that the country remains stagnant is a stark reminder of the need for visionary leadership.