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Nigerians using naira to buy dollars will be arrested; it's illegal: CBNgazettengr.com/nigerians-using-naira-to-buy-dollars-will-be-arrested-its-illegal-cbn
206 sats \ 5 comments \ @KenyaCoin 20 Jul 2022 bitcoin
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20 sats \ 2 replies \ @sb 20 Jul 2022
Classic example of the powers that be crushing innocent lives through abject monetary slavery. Communist regimes build physical walls to prevent escape to freedom. Collapsing regimes build financial barriers to prevent monetary freedom and sovereignty. We must focus on Bitcoin education in local languages and dialects around the world
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20 sats \ 0 replies \ @nerd2ninja 20 Jul 2022
Language barriers. An all too relevant subject. The language barrier seems to segregate humanity into zones. There needs to be some sort of universal language. English is already considered to be "The business language of the world" and is almost a pre-requisite to learning programming, and yet, it seems to not be good enough.
We have amazing translation programs that can translate a written paper, or text to be pasted, like DeepL and Google translate, yet the refusal to integrate these applications by default into the web page, or even the consideration of using an extension, and the inconvenience of translation mistakes have all contributed to this failing to undo the human segregation created by language barriers
I do wonder, would a sort of hieroglyphic system of emojis, while clumsy, might be some sort of solution?
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0 sats \ 0 replies \ @KenyaCoin OP 20 Jul 2022
Education, but also building and improving the censorship-resistant tools such that they can put that Bitcoin education to work. I don't this RoboSats has seen even a single BTC/NGN trade yet, for example. Once it is available as a mobile app as well, I could that changing quickly since P2P trading is very common in Nigeria.
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0 sats \ 1 reply \ @KenyaCoin OP 20 Jul 2022
The naira on Monday crashed to a historic low at the parallel market, exchanging for N620 against the U.S. dollar, according to the exchange platform Aboki Forex.
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0 sats \ 0 replies \ @KenyaCoin OP 20 Jul 2022
The rate published by CBN (the central bank) is ~416.
Banks cannot sell dollars for more than that, so for the most part they have stopped selling dollars.
But the reasons people and businesses are buying dollars is for protection against the falling naira exchange rate, as well as to fund purchases of goods from abroad for import. Bitcoin can be a substitute that does both!
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