How Nigeria nationals and other country Nationals Are Running To Bitcoin For Safety
Nigeria
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At the time of writing this, the exchange rate of the Nigerian Naira # to the US $ dollar in the parallel market is above NGN{Niaria} 380 to $1. For an import-dependent country, this automatically gives rise to increased hardship as the price of basic goods and commodities have skyrocketed.
A typical example being a 50kg bag of rice which used to sell for NGN{Niaria} 9,000 now selling for over NGN{Niaria} 22,000 for just one bag, and most families, the bread winners salary is between NGN{Niaria}15,000 to NGN{Niaria}18,000, meaning that common bag of rice is by far higher than a mans monthly salary minus school fees,house rent and other things too many to mention but must still be met..
Several reasons have been blamed for the existing hardship in the country, top on the list being the slump in the price of crude oil, which is the primary export commodity of Nigeria. Some experts insist that beyond the price of crude oil, that the economic policies of the present leadership is faulty.
This is further emphasized by the current slump of the economy into recession, with no time in sight when the country may get out of it, neither does there appear to be a robust plan.
The ability of Bitcoin to resist inflation, its characteristic independence towards government legislation among other several qualities makes it an automatic safe haven for embattled economies.
Recently youths across different cities of Nigeria took to the streets to protest against the leadership of the nation. One of the major reasons for the nationwide protest is the high level of inflation of its national currency and some seeking their countries, lets leave the critical politics for another blog soon lets focus on bitcoins and cryptocurrency for now,thank you so so much for your understanding.
Since Bitcoin surfaced in 2009, speculation has run rampant regarding the identity of the individual or group responsible for it’s development. The question is certainly intriguing, but unless the inventors had something sinister in mind, the origin of Bitcoin is of little importance, because the coin’s decentralized peer-to-peer protocol acts as a protective firewall for each user.
Critics of Central Bank monopolies, some of the critics ask hope these so-called crypto-currencies will offer a new form of “percolate up” economics to a struggling world dominated by powerful banks.The global economy is currently facing an enormous shift as many countries are burdened with massive debt, resource shortages, and failing fiat currencies. A lot of banks worldwide are folding while the central banks try to fix markets by printing vast sums of money and lowering interest rates. However, more and more global citizens are finding a hedge from this turbulent economy within bitcoin. Here is a list of four countries to watch as any one of them could spark a significant rush towards the decentralized cryptocurrency.
Why is this so?
Please continue reading this please,
Usage of Bitcoin has surged in Nigeria and much more of recent , where Google search interest in Bitcoin is definitely the highest, as well. The development of the Bitcoin technology in Nigeria has followed the regular pattern of previous innovations.
First, it began as a whisper, very few individuals had an idea of the technology and were either ignored or ridiculed called WAYO PEOPLE , 419,OBT etc at every given opportunity. Then came the second phase, when the crowd rushed into the arena despite having little or no knowledge of the concept involved.
With so many unpleasant fallouts from the second phase, as a lot of people incurred losses by investing into the wrong and most times dubious ventures out of ignorance and fraudsters taking advantage of the peoples ignorance , the third phase which involves government intervention has evolved. If the pointers are as correct as they seem then the world should expect a Bitcoin revolution out of the most populous black nation in the world.
Nigeria is known for its tradition of extremism in whatever venture that is embraced by her people, this is why the searchlight of the tech world should focus on the sub-Saharan nation in fact the should make it a very significant bustop, Ebe ano. With the value restoration for the nation’s currency not presenting a bright outlook yet, citizens do not want to be taken unawares anymore.
The focus is strong, and yes the focus is on Bitcoin seriously and is for real.....
Lets go to the other countries
These Countries below and some others not mentioned here for now are currently Priming Bitcoin Demand Worldwide{Kindly assist me please to add those that are not mentioned here please}
Zimbabwe 
The African country of Zimbabwe is suffering from economic hardships as leaders continue to fumble around with worthless ideas. Following the year 2000, Zimbabwe’s economy dropped like a rock as the citizens experienced widespread turmoil. From 2003 to 2009 the country experienced hyperinflation as the Zimbabwe dollar became worthless. Since then the country’s citizens use multiple types of national fiat currencies such as the yuan and U.S. dollar.
More recently the Zimbabwe banking system has created new bond notes which local businesses and the general public distrust. The new bond notes which have begun circulating are said to be “incentive” a local made this information available to us, he explained the situation stating:
"The whole nation has been duped again! They say Bond is not money but an incentive awarded to exporters, but it’s funny how the currency introduced primarily to be a means to pay out export incentives hasn’t reached the hands of the exporters and is already being issued to the general populace who aren’t exporters by any measure. The bond is being dispersed from ATMs machines nationwide! A currency is built on confidence and trust not the lies and deception behind this bond note! "
Furthermore it was reported reported by an economist from the region who believes Bitcoin would help the Zimbabwean economy. “We are very excited about bitcoin as a stable currency alternative, explained Haslam. “The thing about bitcoin is once you import it into the country, you don’t have the problem of the currency eroding and perishing like you have with notes. It’s a system that allows for privatized banking. Effectively, the bitcoin system is both a currency and international payments platform.”
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Zimbabwe fiat currency confuses residents as they are said to be both dollars and bond notes.
India 
Bitcoin adoption within India is high as the country’s demonetization efforts have shaken the economy. Prime Minister Narendra Modi removed high denomination rupees out of circulation. Since then the public has been in shock, and there has been a significant cash crisis within the region. With 500 and 1000 denomination rupees out of the system, India’s officials believe the public and private sector should embrace a cashless society.
India has always been fertile ground for bitcoin use as the country has seen significant growth in adoption over the past years. Since the rupee ban and following cash crisis, the demand for the cryptocurrency {Bitcoins} has risen exponentially. Exchanges in India have been reporting over $1000-1500 USD higher than most global rates. Local Bitcoins’ volumes have nearly Trippled Recently and still climbing up, and many Indian bitcoin businesses,such as matrix peer to peer and other major bitcoins transactions are seeing record numbers of serious transactions.
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India’s Local Bitcoin Volumes
Venezuela 
The Latin American country of Venezuela is currently going through some hard economic times. Hyperinflation has struck the land as the socialist government’s fiat currency, the bolivar, has become nearly worthless. Citizens of the nation are suffering from food shortages and actually weighing large stacks of bolivars instead of counting the currency. Experts expect the currency’s inflation rate to be over 800% at the end of 2017. However, things have gotten worse as economists believe the inflation rate will be a massive 1800% by next year.
Venezuelan bitcoin adoption has also been on the rise as many are turning to the decentralized cryptocurrency to hedge against inflation. LocalBitcoins’ volumes in Venezuela have been at an all-time high, and other bitcoin businesses are seeing “soaring demand.” Furthermore, Venezuelan residents are also participating in the mining process making a more lucrative living according to a recent editorial by Reason. In the report, many Venezuelans describe how they are creating a sustainable underground economy by resorting to mining bitcoins, sending remittances, and other counter economic methods.
Turkey 
Back few months ago it was reported on Turkish residents during the country’s military coup period . Since then bitcoin adoption in Turkey has been steadily climbing. LocalBitcoins’ volumes have also risen seriously ,exponentially even . Most likely the cryptocurrency’s popularity in Turkey is because of the horrible economy due to Turkish bureaucrats monetary failures.
Also the country’s currency the Turkish Lira has lost considerable purchasing power this past year. Recently Turkish President Erdogan has tried to convince residents to convert their hidden foreign currencies back into the Lira. With Turkey’s tumultuous economic times, bitcoin is becoming known as a safe haven and could very well help Turkish citizens.
Brazil 
The demand for Bitcoin is driven by various geopolitical and economic factors. Few events influencing the increasing demand for Bitcoin in recent times include Greek economic crisis, Brexit, falling Chinese yuan, US current internal and international policies , demonetization of the Indian rupee, Venezuelan economic meltdown and more. Brazil may soon join the list following the implementation of the new constitutional amendment.
The implementation of a new constitutional amendment will effectively freeze the government’s spending on various essential public benefit programs including healthcare, education, pensions, infrastructure and defense. These conditions are expected to prevail until 2037, which may lead to increased inflation and economic hardships to the Brazilian population.
The effectiveness of a follow-up stimulus package to make up for the economic slowdown is yet to be gauged. As the government tries to put a cap on its spending to strengthen the economy, it may soon introduce few strict reforms that may obstruct free movement of Brazilian real within and across the borders. These potential reforms combined with weaning faith in the country’s government can potentially turn Brazilians towards Bitcoin as an alternative to the country’s legal tender.
The Brazilian leadership intends to counteract the negative influence of its newly introduced austerity by writing off taxes for certain entities and making allowance for paying debts in installments. Even the banking and financial companies will be directed to reduce the time taken for various operations while reducing fees.
As of now, Brazil looks promising to the Bitcoin sector, but it comes at the cost of economic hardships to the country’s population. Based on the new developments, the coming year, 2017 may turn out to be a really good year for Bitcoin with price crossing $850 in the first few months. Alongside Brazil, India and Venezuela are two other promising markets with a huge growth potential.
Many Other Countries and Geopolitical Events Could Also Create More Bitcoin Adoption
Other countries around the world are also trying to overcome economic hardships such as and not limited to Greece, Spain, Mexico,sudan,south Africa and many others,Major geopolitical events have caused a significant rush towards bitcoin hedging as well. This includes the U.S. current president TRUMP Policies and foreign relations ,recent Brexit, and the Italian referendum not forgetting the recent events in some large strong African countries . As world economies falter, bitcoin will be there for global citizens looking for security, anti-censorship, and the ultimate control over their own wealth.
What is your thought about turbulent economies sparking interest in Bitcoin/ Cryptocurrency ? Let us know in the comments section below,
All steemains please need to contribute please especially our bitcoin/Cryptocurrency and world economy champions ,With all full respect champions like # 
And many others so very numerous to mention one by one ,please champions kindly do not be offended that i mentioned you heavy weights on my posts who i am i ? small me ,kindly bear with me please but we all are like children in this crypto space and steem world,i really appeal with you all to assist and direct us all in any way you all deem necessary please, please so that we all will be fully equipped to change this world and make it a better and much more prosperous ,effective and safe place to live in,looking forward to seeing your inputs please sirs and madams ,i am on my knees
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and i will not stand until one of you tell me to,we all love you.
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