Riots erupt in Nigerian cities as bank policy leads to scarcity of cash \ stacker news ~bitcoin

Riots erupt in Nigerian cities as bank policy leads to scarcity of cash www.theguardian.com/world/2023/feb/15/angry-protests-erupt-across-nigeria-against-scarcity-of-cash

3077 sats \ 21 comments \ @KenyaCoin 16 Feb 2023 bitcoin

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48 sats \ 12 replies \ @DarthCoin 16 Feb 2023

Riots are totally useless and meaningless. They already have the solution but they are too blind to want to see it: BITCOIN.

Just use BTC and ignore anything else. Nobody can force you to use their form of money.

131 sats \ 10 replies \ @sudonaka 16 Feb 2023

They can’t buy anymore Bitcoin because the banks won’t give them their money. Resistance against tyranny is the responsibility of the people.

51 sats \ 9 replies \ @DarthCoin 16 Feb 2023

Why you have to buy it all the time? We already have mined (put in circulation) more than 90% of all BTC in existence. Enough to start a Bitcoin circular economy. Those people would just have to say: from now on I accept only Bitcoin.

THAT'S ALL.

165 sats \ 2 replies \ @sudonaka 16 Feb 2023

THERE ARE MANY IN NIGERIA WITHOUT ANY BITCOIN. It is wrong for the banks to do this to them!

26 sats \ 1 reply \ @DarthCoin 16 Feb 2023

Bitcoin was created 14 years ago... Bitcoiners were literally screaming that this will happen, but they were called crazy and ignored.

This is karma when you do not want to see the truth. A revenge against banks and govs with riots and violence it will not help. But will make things even worse.

Bitcoin is the most powerful silent revolution. You just have to embrace it.

221 sats \ 0 replies \ @sudonaka 16 Feb 2023

Elitism like this is will not work. I believe not even 1% of people are already Bitcoiners. We must advocate for and protect the uninitiated people’s right to peaceful opt-in to the network. Bitcoin is a silent revolution but if it is resisted by governments with force (theft of asserts by Nigerian banks) then a forceful response by the people is justified. God forbid it comes to that in the developed world.

25 sats \ 5 replies \ @badabing 17 Feb 2023

How to pay in bitcoin if almost no Nigerians have it.. Are you going to send them some?

25 sats \ 4 replies \ @DarthCoin 17 Feb 2023

Simple:

those who have it, will pay with.
those who don't have it yet, just ask to be paid in BTC and do not accept any other form of fiat money anymore.

Simple as that: no more fiat. Is not that hard to say it, but yeah you need courage. That will create more pressure on those who have it and slowly it will create the Bitcoin circular economy, where most of the people will transact only in BTC.

25 sats \ 3 replies \ @badabing 17 Feb 2023

You're delusional and a snob.

Bitcoin is not ready for this, there is no infrastructure in Nigeria nor enough adoption at the moment for Nigerians to turn to Bitcoin now. Maybe it will be built but there is a long way to go. You can't leave 99% of the population behind.

But I'm happy you want to set a good example by trading your btc for Naira so they can have more bitcoin liquidity in Nigeria.

25 sats \ 2 replies \ @DarthCoin 17 Feb 2023

You will remember my words... soon

25 sats \ 1 reply \ @badabing 17 Feb 2023

Blown away by your arguments.

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10 sats \ 0 replies \ @01xCc 16 Feb 2023

приведи сюда, в чат несколько человек... мы им дадим монеты... пусть пользуются...

36 sats \ 0 replies \ @Jonathan_Adly 16 Feb 2023

That’s how it works with fiat. Not your gun powder, not your money.

25 sats \ 0 replies \ @TheBTCManual 17 Feb 2023

I wonder how long this goes on and how many people are just going to transition into bitcoin or a stabelcoin, the Naira will surely lose people willing to trust it and would rather wish to use something to avoid this drama for savings

Yes, you need local currency to purchase goods and services and likley still get paid in it, but lets see how long people are willing to hold it when they are trying to save.

I think if you're rioting you already let the government get too far, we have them all the time here, doesn't fix anything, especially because most of the people's riots is I want the government to solve a solution for me.

I really don't know what happened to my people, there was a time when riots where all about fuck the government, they should get out of our way

25 sats \ 0 replies \ @02cfd5f452 16 Feb 2023

Not your Banknotes, not your Fiat money !

25 sats \ 0 replies \ @REDACTED 16 Feb 2023

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25 sats \ 0 replies \ @faithandcredit 16 Feb 2023

This is not the way

25 sats \ 0 replies \ @Busybe3z 16 Feb 2023

Bank runs are never fun. Does Nigeria have the infrastructure for bitcoin?

11 sats \ 0 replies \ @pi 16 Feb 2023

And so it starts.

10 sats \ 0 replies \ @Wumbo 16 Feb 2023

The central bank said the policy was aimed at mopping up excess and counterfeit naira from the system as well as discouraging cash ransom payments to kidnappers and bandits. The policy was also to promote cashless transactions by limiting the use of cash for businesses.