In Nigeria only 0.5% of the population adopted their CBDC while over 40% of their population at least used Crypto once. They have certainly made their decision.

Looking over the posts of the sub for the past days, one thing becomes obvious: CBDC seems to be the next big topic we are all talking about and we should be. A Central Bank Digital Currency, will just like Crypto be digital but literally everything else will be the opposite. All in all, it will heavily restrict and surveil a persons privacy and freedom, two things Satoshi Nakamoto wanted to protect while making Bitcoin.

Now that CBDC are rolling out and they are even using the current high inflation as an excuse for making them, which does not make sense either. It is important to know how the public will react to them and we can only hope for the best.

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finbold news article from late 2022, but estimate has not changed much since then as protests continued.

Nigeria is a best-case scenario for us, there they rolled out their eNaira as a CBDC and even had to limit ATM withdrawals to push their citizens for using it. But fortunately, they knew how shaddy it actually was and so far only 0.5% of their residents are using it.

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Crypto adoption statistics from 2022 by Statista

On the other hand we have Crypto there, over 40% of all residents, according to a survey, have at least once used Crypto or are owning it. Right now even conservative estimates are putting that at least 5.75% of Nigerias population (that’s 12M) own Crypto currently.

We can be very happy and hope that people around the world will just be as smart as in Nigeria and see behind the CBDC and how it is not good for them at all and if then the government still pushes it, people will just turn towards Crypto.