Nigeria bans ATM cash withdrawals over $225 a week to force use of CBDC
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Re: Nigeria bans ATM cash withdrawals over $225 a week to force use of CBDC
#2Given that there's always going to be demand for a non-digital currency outside of the control of a central government (which I believe is good for many perspectives although the demand for something like this is far below what most crypto bros will try to convince you of), I do wonder how people are going to transact in those situations. Gold? Monero? US Dollars or other currencies?
Re: Nigeria bans ATM cash withdrawals over $225 a week to force use of CBDC
#3Given that there's always going to be demand for a non-digital currency outside of the control of a central government (which I believe is good for many perspectives although the demand for something like this is far below what most crypto bros will try to convince you of), I do wonder how people are going to transact in those situations. Gold? Monero? US Dollars or other currencies?
Re: Nigeria bans ATM cash withdrawals over $225 a week to force use of CBDC
#4Given that there's always going to be demand for a non-digital currency outside of the control of a central government (which I believe is good for many perspectives although the demand for something like this is far below what most crypto bros will try to convince you of), I do wonder how people are going to transact in those situations. Gold? Monero? US Dollars or other currencies?
whatever is most stable and available to both parties
Re: Nigeria bans ATM cash withdrawals over $225 a week to force use of CBDC
#5The title is a bit of an exaggeration. Withdrawals above that are not banned, but subject to a 5% fee. Also, it is not a new rule but a lowering of the limit of an existing rule.
Re: Nigeria bans ATM cash withdrawals over $225 a week to force use of CBDC
#655% of Nigerians have access to electricity.
https://data.worldbank.org/indicator/EG.ELC.ACCS.ZS?location...
Seems like the government knows their priorities.
Re: Nigeria bans ATM cash withdrawals over $225 a week to force use of CBDC
#7This is programmable money where the government controls how and when you can spend it. It does not take long for most people to figure out how this restricts their freedom. I guess they will make it a bargain in some way such as charging a higher rate for cash as they are doing here. This may be a training ground for other governments to learn how to force or incentivize us to use their CBDC's.
Re: Nigeria bans ATM cash withdrawals over $225 a week to force use of CBDC
#8Given that there's always going to be demand for a non-digital currency outside of the control of a central government (which I believe is good for many perspectives although the demand for something like this is far below what most crypto bros will try to convince you of), I do wonder how people are going to transact in those situations. Gold? Monero? US Dollars or other currencies?
Vodka has been used as currency before
https://www.atlasobscura.com/articles/vodka-currency-russia#....
Re: Nigeria bans ATM cash withdrawals over $225 a week to force use of CBDC
#9The title is a bit of an exaggeration. Withdrawals above that are not banned, but subject to a 5% fee. Also, it is not a new rule but a lowering of the limit of an existing rule.
Who doesn't like paying 5% for getting the money that they already own?
Re: Nigeria bans ATM cash withdrawals over $225 a week to force use of CBDC
#10[deleted]