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Forum nameGeneral Discussion
Topic subjectNigeria
Topic URLhttp://board.okayplayer.com/okp.php?az=show_topic&forum=4&topic_id=13433233&mesg_id=13500827
13500827, Nigeria
Posted by Oak27, Thu Mar-14-24 01:51 PM
Just to take some attention away from the excitement "omg number go up" and the flavor-of-the-month shitcoin, let's have a look at what's going on in Nigeria.

Last year Nigeria de-pegged the Naira and (surprise surprise) the currency collapsed. Over the last year the currency has fallen from ~0.0022/USD to ~0.00063/USD (-71%).

So what is a citizen to do? Find some fucking USD of course. But what happens when the government restricts access to USD? Crypto, mainly stablecoins.

Hey, there's our scapegoat! Nigeria is blaming crypto on the collapse of their currency. They've gone as far as arresting two Binance employees and trying to get them to release data on their top Nigerian users.

https://www.ft.com/content/9c1394de-0492-4597-b075-cbf19e0b6e83

Get yourself some bitcoin. Just because the use cases don't seem to apply to you now, they eventually will.