Central Bank Of Nigeria Bans Banks And Financial Institutions From Exchanging/Trading Crypto-currency In Nigeria.
I woke up yesterday and seeing this very good news and many Nigerians on twitter and WhatsApp showing displeasure, it was the very best news for me ,because crypto-currency was not created to be exchanged for fiat usage it is a peer to peer, where we could exchange our crypto with value. You can't solve a decentralised system problem with a centralised system solutions.
I remember read @MarcDeMesel and @kimDotcom tweet about knowing the enemy on twitter https://twitter.com/MarcDeMesel/status/1357571328023363585?s=19 earlier that day
The bank financial institution is very anti crypto-currency,while crypto-currency is both a digital money and a self digital bank that allows you to save your money by yourself as a self-banker and it also allows you to transact business without involving the traditional bank/financial institution. This means you can receive and send money to anyone, anywhere in the world at anytime of your choice by yourself without no medim.
Crypto-currency was never built to be converted to fiat but, rather to be use for peer to peer transaction. It's true mission is to make people being incharge of their money.
The government can not persecute you, that because you accept crypto-currency as payment for your goods or service when they are not involved. Two parties have the right to agree to accept anything as a financial instrument between themselves without 3rd parties or central authority.
We don't really need to dig deeper on crypto-currency acceptance around the globe because as it stands crypto-currency is a digital money that no government can put a ban or stop.
Now that some crypto-currency users in Nigeria would unable to exchange their crypto-currency to Naira they will prefer to buy goods and services directly from a merchant that accepts crypto-currency as payment. Business Growth!
How does $BCH helps .
The Bitcoincash a hard fork of the Bitcoin into which we have the popular Bitcoin Core ($BTC) and the ($BCH) the bch I have seen people called Bitcoin Core a digital currency but I agree less to that after much usage of the coin which frustrated some months ago before I discovered the Bitcoincash.
Bitcoincash is the digital currency that posses what would defeat the fiat currency to other crypto currency.
Faster transaction time
The Bitcoincash is very fast in delivering the peer to peer transaction and could justify the terms of liquidity. At times transaction could take up to 3 days sending from one person to another on the Bitcoin Core , this frustrated me alot ,of wait patiently for confirm the receipt of money on my wallet on the Bitcoin Core . With Bitcoincash I do received payment with the same hour or almost instant at times.
Lower transaction fees
Sending $BCH from one wallet to another is very cheap unlike sending with Bitcoin Core @MobTwo usual gospel he would say " try sending $10 to your self you would end up getting $2 " . High transaction fees has break the rule of money " divisibility". Using the Bitcoin Core would make buying small good & services lost a discourage usage over the transaction fees. You can read more here. https://read.cash/@Jadeliyi/ambiguous-transactional-fees-the-solution-bch-48c5f98f
Limited supply
Like every other crypto currency the Bitcoincash has a limited supply of 21million with more than 18 million already in supply just like the Bitcoin Core. Unlike the fiat where government may decides to prints more money when ever they decides and make currency more weak , more reason I always advice my friend to buy and hodl more Bitcoincash .
As my plan last year in one of my previous post to have at least 10bch before by the end of the year, yes I am working judiciously towards this so it's not quite the better to hold more because I believe bch would rally up to the top.
Yeap 2bch on safepal soft wallet think to get a hard wallet soon any suggestions ? Money mainly from read.cash, noise.cash and personal saving. Officially team #1bch.
Decentralised team
Bitcoincash team are made of amazing people and it nice see this generous, hardworking and positive minded people.
We can all help to support more bch has bch is very underated/undervalued
How can I support Bitcoin Cash?
I wrote this in my article last year, just to help I copied and pasted here.
"I feel it is so underrated and people are not getting more fact about bitcoin. Why would people pay more and spend more time to confirm a transaction? After all Bitcoin cash is Bitcoin, just like how Bitcoin Core is Bitcoin. Both are ideas that have brought the world a new idea of money and a decentralised state of finance , cutting across boundry whilst the exclusion of a third party, the bitcoin core is just a store of value , and the Bitcoincash a digital currency . However, Bitcoin Cash aims to follow the original ideas of Bitcoin in being peer-to-peer electronic cash. In doing so, Bitcoin Cash developers have been working hard and timelessly as well to make $BCH the best money in the world which it is already and more people are unaware of.
Buying more of Bitcoin Cash ; buying holding more bitcoin cash is a way that would help the bitcoin Cash to get more and more awareness, this year I have up to 1 BCH I'm hoping to have at least 10 BCH before the first quarter of 2020. Buying more bitcoin and using it as a means of exchange would help aboutore awareness.
Sensetization: Bitcoin cash is very easy , fast with a low cost of transaction fee I conduct transaction with BCH and I encourage more of my friend , and more companies would to start accepting BCH . A lot of people here(in Nigeria) don't care about Bitcoin Cash, but I can tell that a lot of people wants some thing that cost very less transaction and is very fast. I'm channeling my energy to orientate people more about BCH. Promotion, ads and campaign would help
Adoption : A lot of companies would discover a lot of hidden fact which they haven't discover recently, Bitcoin Cash would be the light soon enough for people to understand. Institution would soon began to discover the secret of bitcoin cash as 2021 would believe to be the year of more adoption of cryptocurrency."
Thanks for reading