Twitter, Nigeria, and 320 Million Cryptocurrency Users

There is a lot of new floating around that could bode well for Hive. We are seeing things really heating up on many fronts that spells opportunity. Remembering this is a marathon, not a sprint is vital. We are still in the early days which means the next few years could really see some massive growth.

We all know how hype is what garners attention. That said, use case and true utility is what will attract users. With them, comes money along with long term value.

With so much disarray taking place, there is a massive opportunity. Cryptocurrency seems to find itself right in the center of all this. For example, Iran is now using crypto to pay for imports as opposed to the USD or EURO. Elizabeth Warren is going to have a cow over that one.

What we said about the Eurodollar system appears to be true for cryptocurrency. It has the ability to get money where it is needed, when it is needed, no matter the circumstances. Iran shows how this is the case.

All of this equates to expansion. Each layer that we add only strengthens the foundation. The FUD that is continually spread show the potential. If blockchain and cryptocurrency were no threat, they would be ignored.

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320 Million Users

Triple A, a global crypto payment system, issued a report from studies they did concerning the number of cryptocurrency users globally. They concludes there are 320 million people presently involved in cryptocurrency in come from. This is roughly 4.5% of the total world population.

Here are the top countries in number along with the percentage of the population.

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These are some fairly healthy percentages. What is interesting is that a few of the countries at the top of the list are not very crypto friendly. We know China and Russia both took hard stances against this at times. At the same time, India along with Nigeria came out with policies that were not considered crypto-friendly. Nevertheless, these countries all total tens of millions of users.

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As we can see, according to the numbers from Triple A, the pace of cryptocurrency adoption is mirroring that of the Internet. This is not the first time someone made this statement.

If the pace holds true. we are going to see the number more than double in 2024, putting it over 750 million. We can only imagine what that will mean in some of these top countries where the numbers could explode.

Nigeria, with an estimated 22 million users, accounts for more than 40% of the total for Africa. This is helpful to Hive since there is a strong Nigerian community on that blockchain. Expanding in this area would be of great benefit since that country has a lot of young people who could benefit from the applications being developed. Proof-of-Brain can be a powerful mechanism for coin and token distribution.

Elon Musk And Twitter

By now all heard about the Twitter whistleblower. It seems Elon Musk might not have been full of hot air, at least on this one. Twitter has a major bot problem, something more users of the platform were aware of.

This is providing Musk with more ammunition to cancel the offer to purchase the company. It is an ongoing legal battle which will not end anytime soon.

What is resulting from all this is the name of Twitter is being tarnished. As more emerges publicly about the company's operations, the worse it looks for them. It is typical Web 2.0 stuff yet most of the public is not aware of this. This could be the start of the downfall.

Again, it is not going to happen overnight but is something to be mindful of. In the meantime, it is up to us to provide an alternative.

As was spelled out in The Way Hive Can Replace Twitter, we have a unique opportunity to step in with a much improved system.

Twitter is nothing more than a centralized database with a front end (Twitter.com) that allows people access. This is done through an account management system which provides each user account credentials. All three aspects are controlled by the company resulting in people being able to operate with Twitter's permission.

Hive is a decentralized database. It utilizes a number of front ends to access the information contained on the blockchain. The account management system is part of the base layer, putting it in control of nobody. Anyone who get an account, as long as the private keys are maintained, has access. Engagement is possible if enough resource credits are available.

While we do not know how the situation with Twitter will work out, we do know there is a lot of upheaval. Trust is going to be lost. With Hive, we are starting mostly from a clean slate there.

At the same time, we see the number of people involved in cryptocurrency growing. For the most part, we can guess, the majority of the 320 million approached it from a financial angle. They bought some crypto which is placed in a wallet, hence are a user. They are not really engaged in it.

With Hive, we have the ability to tap into online engagement. Since we can target different social media activities, the type of user can be radically different. Instead of focusing upon investors, we can see out social media users. People can utilize some of the early Web 3.0 applications for this end.

We can expect the numbers of cryptocurrency users grow at a powerful rate over the next half decade. Within 5 years, it is safe to say we will have some form of mainstream adoption. For that reason, the time to position is now.

Hive appears to be doing this. If we keep building out the applications that people will find useful, we can use some of the unique characteristics of the blockchain towards this end.

It is all a process. A marathon is not run in 45 seconds.

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Bang, I did it again... I just rehived your post!
Week 121 of my contest just started...you can now check the winners of the previous week!
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Hey I say countries need to do what they are going to do. If Iran is using crypto to get the goods and services it needs because of another mafia sanctioning them, then good for them! They just think we are over here playing and trading. I say let Huve stay below the surface for some time so that when we do explode, they won’t know what hit them, lol.

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I say let Huve stay below the surface for some time so that when we do explode, they won’t know what hit them, lol.

I am very much with you on this, being unpopular suits us for now, lets's keep getting stronger in the meantime.

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That is true. Hive is flying under the radar. The sanction evasion is showing the power of crypto.

It is a monetary system that is out of the reach of governments. They just dont realize it yet.

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The house of cards is collapsing, they are just trying to keep the remaining g cards standing with as much tape as they can make, lol.

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another day, another reminder that crypto is here to stay and its the future.this is just the beginning, remember that more people still join crypto every day, its going to be a full house soon.

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They cant stop it no matter what they do. It is global in nature and if Iran feels it will allow them to get around the West, they will end up being supportive of it.

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It's expanding at a steady pace. The cat's out the bag (horse out the barn?) and it's not going back. Slow progress at times but there's going to come a time when we hit a tipping point - best to be involved and growing!

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It is just a matter of time before crypto takes an even large percentage of the world's population. Great stuff like #hive takes time and by the time they even know what is going on, we have already gone far.

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Hard to see this not accelerating in coming years. We havent even rolled out a number of applications that most can use. Once we do, it is all over.

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If blockchain and cryptocurrency were no threat, they would be ignored.

So true, it's ridiculous that banks have actively tried to prevent their customers from buying crypto in the past...

This post has been manually curated by the VYB curation project

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Did you say in the past? We are still being restricted at some level.

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Seems only to be increasing. They know that is the point of vulnerability.

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The need to convert to and from fiat will remain the weak link until crypto is accepted everywhere.

The other weak link will be the ability of governments to track even direct payments for food and other goods, even when bought with crypto.

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I can't say about now, just saying that it happened to a friend in the past

!PIZZA !ALIVE !LOL

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They are trying to stop it, but it will keep expanding. This is where I think their plans to stop things falls apart. Global and digital in nature. That is something governments arent equipped to deal with.

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True... My concern is how will they react to physical goods on their soil being purchased using the currency they're waging war on?

!PIMP

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Saludos. Empezando en este maravilloso mundo de aprendizajes. Muy valioso su contenido. Siendo nueva en Hive espero que mi contenido resulte de valor y aporte a la comunidad.

Greetings. Starting in this wonderful world of learning. Very valuable content. Being new to Hive I hope my content proves to be of value and contribution to the community.

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The following breakdown for the USA in the triple-a report caught my attention.

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There is a similar situation in other countries where the age distribution is shown.

We know that personal income and wealth increase with age. And after people retire, their incomes decline again. So those who are in the 25-44 age range will have more wealth in the next 10 to 20 years. Since they are still acquainted with crypto, they will invest most of their income in crypto.

This means that over the years, not only crypto users but also the per capita income of the crypto community will increase.

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And I like the fact that I am in the 12.45% category. And 10 to 20 years of building and accumulating is a good number to me.

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Technology also has something to do with it. The 45-54 are the peak earning years and yet they are down a great deal compared to the 35-44 age bracket. Difference between the Gen X and Millennials.

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Well lets hope more people get involved and better yet, find their way here. I think Revolute has really helped people get involved in Crypto, it's easy and accessable to anyone remotely interested. (Not sponosored) hahah

!PIZZA

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It is encouraging to see cryptocurrency mirroring the adoption rate of the internet. Looking at crypto users in these unfriendly crypto countries tells us ways will be available to tap onto crypto.

A lot of crypto opportunities are going to emerge, it might even extend to migrating to crypto-friendlier nations. The longer crypto exists it gets the lot more unstoppable, well I think it is unstoppable at this stage.

Unlike Covid pandemic, the crypto pandemic is spreading slowly, and once infected no oxygen can save you.

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It does appear to be spreading. We will have to see how crypto fares in a global recession. So far, it is untested in that arena.

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There is a lot of new floating around that could bode well for Hive.

👆 I think the above opening sentence needs some fixing.

Nonetheless, nice analysis. There seems to be a very high correlation between internet adoption and crypto adoption. For countries like Nigeria, adoption is usually motivated by the misconception that crypto is a get-rich scheme, as most people here are trying to find an easy route out of poverty. However, the adoption intention is improving, as for most informed and educated people, crypto is their only reliable store for wealth, free from the prying eyes of the hungry Nigerian government.

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Although the policies against Cryptocurrencies are not the best in those countries, users want to have our savings always at our sight and with it we also achieve that we can use them at any time

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Crypto is here to stay and hive makes many things possible. Hive give social media because it is still only decentralized single social media

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That is really interesting that India is so high in the list. I am guessing part of it is just because they have such a huge population, but like you said, they don't have very crypto friendly laws right now. They had outright banned it for a while then back tracked on that, but instituted steep taxes I think.

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High on the list in terms of raw numbers, rather low by percentage.

Yes 1.3 billion people, it is hard not to find 10 million in crypto.

If the percentage grows in India, the number will explode.

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It's also interesting that Hive has a relatively healthy percentage of users from around the world. You have people from richer and poorer countries and with different pocket sizes. The good thing is that there are different "roles" and things to do for everyone. Some that have more money simply invest in Hive ecosystem, others that have nothing, can start for FREE building wealth! Opportunities for everyone!

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Hive is distributed around the world. There are people in many different countries. Nigeria, for example, is well represented on Hive.

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Excellent overview of the current scale and scope of the global cryptocurrency community. I had no idea Vietnam had that high a concentration of ownership of crypto - I remember when they were being hyped up as one of the Asian Dragon economies that was supposed to take off in the early-2010s, and then stagnated.

That large a number, especially with so many young people living there, bodes well for their future adoption!

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There are a lot of surprises. No way to know where adoption is taking place.

Good to see pockets that we dont expect forming.

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yeah, it's all positive development imo. Southeast Asia is set to have one of the highest population growth rates in the world (along with Africa and Latin America) for the foreseeable future.

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If blockchain and cryptocurrency were no threat, they would be ignored.

I love that "threat" aspect of both blockchain and crypto putting flesh and blood to a truly economic inclusion.

Nigeria, with an estimated 22 million users, accounts for more than 40% of the total for Africa. This is helpful to Hive since there is a strong Nigerian community on that blockchain.

Nigerians on Hive unite!

Since we can target different social media activities, the type of user can be radically different.

Yes, I love both the financial and the social aspects of Hive.

Within 5 years, it is safe to say we will have some form of mainstream adoption. For that reason, the time to position is now.

How I wish that increasing number of Hivers would realize this.

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The real adoption u will see when crypto becomes a reserve currency instead of USD and EURO. The effect will be exponential for sure. I am quite sure, that this wave of adoption in foreign trade will certainly come from the least developed and developing countries because they are most affected by the one-way dollar appreciation.

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It's impossible to stop crypto so long as the internet is around. So if it will take off, it will when the right applications come in. However, I still think most of the people entering are just in it for the money though.

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What's good can never be hidden, no matter the law put by some countries pertaining to crypto currency, Peoples still know of his powers.

crypto currency is growing and it must remains that way.

This Post is helpful never know Nigeria occupied a big number of Crypto currency users.
That's up to 22 million.

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