• Nigeria introduced a Central Bank Digital Currency (CBDC), the eNaira, into its financial system in late 2021.
• The Nigerian government has put restrictions on the amount of cash that can be withdrawn, limiting it to about $225 per week with a daily limit of about $45.
• These regulations are mostly about pushing a cashless policy in which the government has complete control over all citizens’ finances.
Nigeria Introduces CBDC
In late 2021, Nigeria, Africa’s most populous country, introduced a central bank digital currency (CBDC), the eNaira, into its financial system in an attempt to drive consumers toward alternative options.
Limitations on Cash Withdrawals
The Nigerian government has now put restrictions on the amount of cash that can be withdrawn from banks at any given time. This limit is set at about $225 per week and $45 daily for individuals.
Government Control Over Citizens’ Finances
These regulations have been met with criticism from Nigerians as they understand that these policies are mostly about financial control and pushing citizens into a cashless Keynesian economy where the government has complete control over their finances.
Central Bank Governor’s Response
Godwin Emefiele, governor of the Central Bank of Nigeria believes that these policies will ensure more people in the country are financially included and keep up with where global money is moving towards. However, many Nigerians feel this is not what is happening as they are gradually being “un-banked”.
The introduction of CBDCs and limitations on cash withdrawals in Nigeria further demonstrate how much control governments seek to have over their citizens’ finances. As such, it is important for citizens to be aware of their rights and take action when necessary for them to be able to maintain full control over their own money.
Bitcoiners’ Low Adoption Rate
• According to CroesusSource, only .01% of the world’s population has adopted Bitcoin.
• This means that there are currently only 250,000 Bitcoin Maximalists (people who hold 50% of their net worth in bitcoin) out of a total of 2.2 billion people.
• This low adoption rate shows that Bitcoiners still have difficulty convincing more people to join their cause.
I can’t remember how I viewed the world before I was a Bitcoiner. I believe that everything can be related back to Bitcoin and it’s obvious to me and other believers. We think that this new system is fairer and will remain long after we’re gone, but in order for it to work, we need to fund it by giving people the opportunity to vote with their money and opt out of fiat currency.
I started telling my closest friends and family about my epiphany but they weren’t convinced as easily as I was. My attempts at orange pilling didn’t work so well because they just couldn’t see what I saw. It felt like no matter how much evidence or logic I presented, they just couldn’t get on board with my enthusiasm for Bitcoin.
The solution is simple – we need more education about cryptocurrencies and blockchain technology so non-believers can understand why it’s important. We also need better marketing tactics so that those who are unfamiliar with cryptocurrencies can still be intrigued enough to learn more about them without feeling overwhelmed or intimidated by the tech behind them.
Bitcoiners must come together and focus on spreading awareness about cryptocurrency instead of arguing over which currency is better than another or debating technical details that most people don’t understand yet anyway. We also need to invest in infrastructure improvements such as Lightning Network nodes so transactions become faster, cheaper, and easier for everyone to use – not just us early adopters! Finally, we must continue investing in projects like BTCPayServer which helps businesses accept payments easier across multiple currencies including BTC and ETH while protecting user privacy at all times!
What is Madeira?
Madeira is a small island located off the coast of Portugal in the Atlantic Ocean. It is known for its picturesque landscapes, warm climate and rich cultural heritage. It has become a popular tourist destination, with regular direct flights to New York and several European capital cities. Madeiran bananas, passionfruit and tea are exported, while tourism and remittances are important sources of income.
Why Bitcoiners Are Talking About Madeira
This summer saw a group of high-profile Bitcoiners travel to Madeira to “orange pill” the island with their Bitcoin story. Pleb Music shot a documentary featuring drone shots, storytelling sleight of hand and agile camerawork by @Cinemuck_. The Northern hemisphere winter makes for an excellent time to watch it and learn about why this Portuguese isle should feature on any traveling Bitcoiner’s bucket list.
Features Of The Island
Madeira features an abundance of natural beauty that has attracted tourists from around the world. It also boasts a temperate climate which allows for year-round activities such as ecotourism and digital nomadism. In addition, Madeiran cuisine includes espetada (a posh kebab) as well as quality steak and fish – something that appeals to many Bitcoiners.
Visiting Madeira can offer travelers an insight into traditional culture while also sampling some delicious food options. For those interested in cryptocurrency, it is also an ideal spot to explore Bitcoin adoption, as the island has been working on ways to increase usage of the currency in recent years.
Madeira is a beautiful island with plenty to offer both tourists and cryptocurrency enthusiasts alike. Its warm climate, diverse landscape and various attractions make it a great destination for travelers looking for something new or wanting to explore more about Bitcoin adoption!
• The Commission On Cryptocurrencies And Digital Assets in New Hampshire has suggested the state integrate bitcoin mining operations into its energy plan.
•Texas Work Group On Blockchain Matters recently recommended allowing bitcoin investments and giving tax incentives to local miners.
• Both reports cite the need for regulation to protect consumers and advocate for further research into Bitcoin.
New Hampshire Investigating Bitcoin Integration Into Energy Plan
Governor Chris Sununu of New Hampshire issued an executive order in February 2022, directing the state’s Commission On Cryptocurrencies And Digital Assets to look into how bitcoin mining operations could be integrated into a statewide energy plan. The commission returned results that suggest such integration would have positive impacts on the electricity system, including contributing to a more stable grid, more sustainable generation projects, and lower costs for consumers generally.
Texas Looking Into Allowing Bitcoin Investments
A report directed at members of the Texas legislature titled “Texas Work Group On Blockchain Matters” suggested making bitcoin an authorized investment for the state, while giving tax incentives to local BTC miners. The report concluded that further research was necessary before any decisions were made about incorporating cryptocurrency into the economy.
Regulation Necessary For Consumer Protection
The New Hampshire report also emphasized that regulations must be in place to protect consumers from potential risks associated with cryptocurrency investments. Appendix B of their findings states that “a well regulated cryptocurrency market provides consumer protection, and trust in the market which is a boon to investors, the general public, and businesses alike.” This indicates that American states are increasingly considering the benefits of embracing bitcoin while protecting citizens from harm through adequate regulation.
States Leading Way In US Adoption Of Bitcoin
If states like New Hampshire and Texas choose to follow these recommendations it could lead other U.S. states towards greater adoption of cryptocurrencies. It is important for those within or connected to the Bitcoin ecosystem to advocate for continued inquiry into how states can safely incorporate cryptocurrency technologies so as not only benefit their own economies but also advance wider adoption across America as a whole.
In conclusion, it appears as though both New Hampshire and Texas are keen on exploring ways in which they can incorporate digital assets such as Bitcoin into their respective economies safely with adequate regulation in place to protect citizens from potential harms associated with cryptocurrency investments . As such these two states may end up leading other American states towards greater adoption of cryptocurrencies if they decide to take action on these recommendations moving forward .