Crypto is the only hope for democracy in Nigeria

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Yesterday was supposed to be democracy day in Nigeria and instead of celebration, there was a suspicious eery feeling in the air. Perhaps it was due to the nationwide protest due to the rise of poverty, insecurity, and many other vices due to bad governance. However, on close inspection, it is pretty obvious that the only hope for real democracy in Nigeria is in the hands of crypto.

Even the most optimistic Nigeria won't say nice things about the country, while the realist will sound distinctly like a pessimist because there's sadness in the atmosphere. The country is currently ruled by a "reformed" dictator who has deployed draconian policies that have put a stranglehold on the economy and affected the crypto trade in Nigeria.

His policies have unsurprisingly crippled businesses that rely on the internet, marginalized a section of the country, his decisions are ostensibly nepotistic and there's even a possibility that he's in cahoots with Islamic extremist terrorist organizations. In the midst of all these wrongs bedeviling Nigeria, crypto stands out as the only hedge against our travails.

Store of Value

The Naira is in free fall, particularly in the black market where the Naira is pretty much a shitcoin. This free fall has naturally had an adverse effect on people in the country who earn in Naira and have to survive on their increasingly valueless fiat wages.

In the midst of everything, cryptocurrencies have also taken center stage in Nigeria and many people are self-discovering the importance of holding these digital assets. The inevitability of Naira's demise is quite sad to watch but at the same time, it should motivate you to look at other options out there.

Looking inwardly, at the Hive community, I feel like this is the best time to consider holding more and even staking, to generate more passive income. At this moment, holding Hive, Bitcoin, Ethereum or virtually any other cryptocurrency is a safer bet than Naira.

I also encourage people to ONLY convert small amounts for expenses to Naira and keep the rest staked or diversify into other crypto investments. The very foundation of Nigeria is wavering, and in the event of a cataclysmic event, you really don't want to be holding the Naira.

Fighting Poverty

According to Endpoverty statistics collated just last year, Nigeria is now the poverty capital of the world. There's literally no way to practice true democracy in a place where people are willing to sell their vote for a day's meal.

In Nigeria, votes in the election mean absolutely nothing to the average person and they'd easily sell it to the highest bidder for a quick meal. It is not the ideal situation but if you read my post about weaponized poverty 8 months ago, you'll get a clearer picture of the situation.

Cryptocurrencies have come into the scene to protect Nigerians from poverty by creating a new way for people to earn a living. Through crypto, we no longer have to rely on Naira-based wages to power our lives.

In a correlated line of thought, Nigeria also has a large population of underprivileged and tech-savvy youths that could capitalize on the benefits of crypto. If we could all focus our attention on earning from outside, stop kissing the assess of corrupt boomers and work together, we could actually fix the country's democracy.

Time to unite

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It's a long shot of course, and there will be so many hurdles that we have to face to actually fix any problem. However, I've always believed that the only way to fix the problem is through unity.

There's more of us than them, and while they have the power, it is important to remember that their power comes from us. As more Youths continue to be empowered by crypto and more Nigerians join forces, I believe that there will be a tiny ray of hope for democracy in Nigeria.




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This is an unfortunate truth. The state of the country places us in a position where we have to keep searching for 5 to 10 sources of survival. The only way to unite is not to even bother trying to unite the different parts of the country as whatever will happen is inevitable, but to make sure that youth have a mind of their own and not just echo the voices of our heroes past.

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