why so?🤔


why so?🤔

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Comments (44)

  • BashCo Reply

    “Buy bitcoin before you need it” doesn’t always make sense until you actually need it.

    November 6, 2022 at 5:10 pm
  • klik_klik1236 Reply

    I spoke with a nigerian about this recently. Their currency is dying rapidly and it’s nearly impossible to get the actual “official” exchange rate in Nigeria. Instead to trade currencies you have to go through the black market and pay nearly twice the actual rate. This is a desperation move as crypto isn’t even legal in Nigeria and there can be intense consequences if caught. I won’t shill but I will give credit where it’s due, a lot of these problems are hard for westerners to understand because the institutions we often complain about on this sub are the very ones that protect us from these problems.

    November 6, 2022 at 5:10 pm
  • 192838475647382910 Reply

    Speculation to the left, opportunity to the right.

    November 6, 2022 at 5:10 pm
  • Particular_Relief154 Reply

    With western economies and currency then Bitcoin could be seen as a luxury and future opportunity. But in Nigeria, it’s becoming a necessity to own it or suffer dire consequences

    November 6, 2022 at 5:10 pm
  • dlq84 Reply

    Their currency is dying.

    November 6, 2022 at 5:10 pm
  • Mr_Cole Reply

    Because the dollar is stable for right now as the Naira is fluctuating. People search for other options when they need to not when they are content for the most part

    November 6, 2022 at 5:10 pm
  • Professor_Oaf Reply

    Bitcoin is becoming cheaper to use than credit cards at the till (in Africa). That’s only a very recent development though.

    November 6, 2022 at 5:10 pm
  • HalfRick Reply

    Other than the very insightful and correct aspects regarding differences between the countries already being mentioned, there are additional aspects to consider.

    These are relative numbers for a very specific search term in English. Extreme peaks in the US will make even very high absolute numbers look like ants in the future, and it’s possible that Nigerians search for similar search terms in other languages and expressed differently in English.

    It’s also possible that the interest has always been very high in Nigeria, which means that their relative interest over time is high and stable.

    There is no doubt in my mind that Nigerians are more tech savvy when it comes to crypto than Americans, but these kind of comparisons should be couples with datapoints such as what 100 in this case represents in terms of searches per 100 000 internet users or inhabitants, or maybe even a more absolute comparison than just a relative one.

    Perhaps unnecessary in this case, but in case you stumble upon similar comparisons in the future it will be helpful to keeps things like this in mind.

    November 6, 2022 at 5:10 pm
  • walace47 Reply

    Inflation. Poorly credebilyti to public doubt. Probably they have restriction to buy dollar.

    Like Argentina

    November 6, 2022 at 5:10 pm
  • DrAgaricus Reply

    Greed vs usecase

    November 6, 2022 at 5:10 pm
  • Peter4real Reply

    Abstract from my masters thesis on financial inclusion in three African countries, comparing banking sector, mobile money and crypto:

    This thesis, suggest that the importance of financial inclusion can be understood through luck egalitarianism, a prominent theory of distributive justice. Equal access to advantage is the essence of G. A. Cohens position, which seeks to justify how we should distribute resources to compensate for disadvantage. My analysis will be based on this theoretical position, along with three criteria to evaluate financial instruments and how they provide financial inclusion in Mauritius, Kenya, and Nigeria. These criteria; reliability, convenience and flexibility, stems from the work of Collins et al. (2009). I hypothesize that the degree of financial inclusion, which the banking sector, mobile money and cryptocurrencies seek to provide is dependent on the fulfillment of these criteria. The results of the analysis show that there is a correlation between goal fulfillment of the three criteria and the degree of financial inclusion. The banking sector performed well in Mauritius, less so in Kenya, and with large deficiencies in Nigeria, which correlated with the degree of financial inclusion coverage. Mobile money performs overall better in Kenya and Nigeria with promising degrees of financial inclusion coverage whereas cryptocurrencies seem to perform well, under mixed fulfillment, in all countries. The results guide us towards a future approach of assuming that different financial instruments contribute to fulfill the goal of financial inclusion and equal access to advantage, on par with the traditional belief that access to banks is sufficient in creating financial inclusion. The assumption has hitherto been that a single financial instrument, such as the banking sector, is the best instrument to facilitate financial equality. My findings contradict this assumption, as it turns out mobile money and cryptocurrencies make up a meaningful contribution towards financial inclusion, while banks sufficiency can be drawn into question. We should consider looking at the broader relevance of the instruments, by looking at their fulfillment of the three criteria, when measuring and analyzing financial inclusion.

    November 6, 2022 at 5:10 pm
  • official_allah Reply

    Bitcoin is already saving Nigerians.

    Those who got rich off the establishment will watch in awe as ordinary Nigerians rise up from Nothing and become financially secure because of crypto.

    November 6, 2022 at 5:10 pm
  • acegreen1989 Reply

    Because you need internet to buy bitcoin. Nigeria skipped the Ethernet/Wifi home networks and recently invested heavily to go straight to cellular. It just takes time for technology and **means** to catch up

    November 6, 2022 at 5:10 pm
  • Plastic-Jeweler9104 Reply

    I would also say that the USA has easier avenues of actually buying Bitcoin and they are pretty well marketed now. People don’t necessarily have to search for it because it’s already being marketed towards them.

    November 6, 2022 at 5:10 pm
  • inkandpaperguy Reply

    Normalcy Bias

    November 6, 2022 at 5:10 pm
  • WingVet Reply

    There’s alot of ‘unbanked’ people in Africa, more people have phones than bank accounts and crypto is seen as way to invest, through an easy to use app.

    November 6, 2022 at 5:10 pm
  • ugewhatudeserve Reply

    So the nigerian prince lost his private key ?

    November 6, 2022 at 5:10 pm
  • LazySuccess Reply

    I guess im USA everybody figured out how to do it already 2017?

    November 6, 2022 at 5:10 pm
  • fainje Reply

    Because the US isnt worthless. Because the inflation is still not high enough. Because people in the US are still too wealthy.

    November 6, 2022 at 5:10 pm
  • hukep Reply

    I like the fact that Bitcoin is most benefitial for developing countries. Let’s go and catch up with rich countries soon.

    November 6, 2022 at 5:10 pm
  • John_Pig Reply

    That rich Nigerian prince must be buying.

    November 6, 2022 at 5:10 pm
  • brandonjoncas Reply

    Because once you know how to buy it you don’t need to search for how to buy it.

    November 6, 2022 at 5:10 pm
  • ValueFuck Reply

    easier for nigerian princes to scam bitcoin than usd?

    November 6, 2022 at 5:10 pm
  • Wetzlar Reply

    Everyone in us knows how to buy bitcoin already.

    November 6, 2022 at 5:10 pm
  • Godspiral Reply

    CBDCs are great marketing for digital money. Government (Nigeria was one of first) launching CBDC means that much better money that is not controlled/confsicable by that government is 5000% better in every respect.

    November 6, 2022 at 5:10 pm
  • PureResolve649 Reply

    Americans are now too broke to buy Bitcoin and pay credit card debt. Oh, and also still believe “the dollar is strong”.

    November 6, 2022 at 5:10 pm
  • Potential-Froyo8164 Reply

    Nigerians don’t buy bitcoin. They just scam it off of everyone else and sell it.

    November 6, 2022 at 5:10 pm
  • TwoInchTickler Reply

    Could the adoption in many non-US countries be seen as an issue for further integration in the US? As in, the more that other nations accumulate, the more the powers in the US will be reluctant to adopt (in turn driving price) as it will move financial strength to the nations already holding? If that makes any sense? It’s early Sunday, forgive me if it’s stupid!

    November 6, 2022 at 5:10 pm
  • luckhorse Reply

    Because in USA can easily to buy bitcoin, other place with strict restrictions it’s hard to figure out

    November 6, 2022 at 5:10 pm
  • Cryptobarim Reply

    Maybe because everyone currently interested on how to buy bitcoin knows it by now or gets advice from friends. In Africa thats not so easy i guess.

    Everyone knows Coinbase, Binance etc and have easy fiat deposit options. In Nigeria you gotta hustle to actually turn cash into btc

    November 6, 2022 at 5:10 pm
  • RynoRama Reply

    Greed vs necessity

    November 6, 2022 at 5:10 pm
  • Bkokane Reply

    People in the US are under the impression that the dollar is strong so everything is fine again, no need for bitcoin. Searches will rocket up at $100k

    November 6, 2022 at 5:10 pm
  • heyhihowyahdurn Reply

    Bitcoin is still an asset to some top countries, but it’s already necessary for a lot of more unstable currencies.

    November 6, 2022 at 5:10 pm
  • TheSn00pster Reply

    Conversion rates

    November 6, 2022 at 5:10 pm
  • callebbb Reply

    The only currency that doesn’t rely on trust, especially in those who have proven untrustworthy.

    November 6, 2022 at 5:10 pm
  • ThimbleweedPark Reply

    Lots of niagaran prince’s.

    Source: my emails.

    November 6, 2022 at 5:10 pm
  • madkow990 Reply

    I am willing to bet it has to do with the environment & application. In the USA, we have a semi stable currency and financial system (albiet a fiat one) so people have been treating btc as a fomo commodity instead of a currency. But in a place like Nigeria, where that underlying stability isn’t exactly there – bitcoin is a safer, more secure option for the exchange of goods and services.

    November 6, 2022 at 5:10 pm
  • GipsyRonin Reply

    USA owns the global reserve currency. They would be the last nation on earth to have banks take it. Why for years I warned BTC has a massive propaganda war ahead of it. Corrupt leaders who want power over you. Bitcoin sets you free sooooo…….

    November 6, 2022 at 5:10 pm
  • cryptosweethear13t Reply

    Can’t reply to pictures, you can see more surprising

    November 6, 2022 at 5:10 pm
  • pigeonwiggle Reply

    a reminder all the “libertarians” need to understand about bitcoin:
    1. it’s traceable. very very traceable. by anyone. all transactions are public record.
    2. it’s not political – everyone can buy/sell, it’s not a political movement of a unified group.
    3. one global currency means exactly that – globalized currency. people abandoning their weaker currencies for one easily attained and transferred globally among people in the 1st world is their path to economic survival in an uncertain future.

    November 6, 2022 at 5:10 pm
  • crystallize1 Reply

    In Nigeria it would be akin to gold.

    November 6, 2022 at 5:10 pm
  • shy-labuff Reply

    Increases in Nigerian princes

    November 6, 2022 at 5:10 pm
  • zenethics Reply

    I think the search phrase is a red herring. People in the U.S. probably don’t search “how to buy stocks” very often either – once you know, you know. Plus, lately, a more relevant question might be “where _can’t_ you buy Bitcoin?” There are so many options for getting exposure.

    November 6, 2022 at 5:10 pm
  • kale_boriak Reply

    Well, if the Nigerian prince that keeps emailing me is into bitcoin, then…!

    November 6, 2022 at 5:10 pm

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