It Costs 10% of Annual GDP To Run a Bitcoin Node in Nigeria

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Bitcoin can make a significant impact in Africa over the next few years, as it is the only global asset to provide financial inclusion for everyone in the world. Interestingly enough, there is only one bitcoin node being operated out of West Africa, and it is rather expensive to do so. Building bitcoin’s presence in Nigeria will be quite challenging, even though the country has seen a thriving cryptocurrency ecosystem so far. Operating an official Bitcoin node remains very expensive, though.

Nigeria Is An Important Region for Bitcoin

The vast majority of Nigerians know bitcoin because of theMMM GlobalPonzi Scheme running rampant in the country. With so many people struggling financially, it is not surprising to see a lot of people fall for investment schemes which make earning a lot of money seem very easy. MMM Globalrecently halted Naira depositsin Nigeria and is now only accepting bitcoin from its members. It goes without saying this program gives bitcoin a very bad name.

That being said, there are some people who try to advocate the positive sides of bitcoin. Nigeria is home to only

Read more ... source: LiveBitcoinNews




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