What they overlook is this was designed to bank the unbanked.
This explains their misunderstanding in simple terms, some of us are tired of using traditional banks anyway so limiting banking services to crypto holders is a positive that will lead to establishing a way to transact with cryptocurrency outside the bank.
This is desired when you have currencies such as the Bolivar that are total train wrecks.
I can't help but laugh at this, the Naira is another that has become a joke and these are reasons why anyone in these nations exposed to HBD finds it valuable.
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Can you find people in your community that accept cryptos?
Not at present most want to hodl onto their cryptos and only spend when they have to, this is a practice like anywhere else now, and hopefully, that changes in the future when crypto acceptance for payments will be a lot more common.
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That is because most are confusing medium of exchange coins (like HBD) with value capture tokens.
They dont want to give them up because they will be worth more in the future (so the thinking goes).
HBD is pegged to $1 worth of $HIVE so it is set. Use it to buy things.
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When people generally have to spend it, that is when it is going down.
The situation with the Naira shows the issues. It would be comical if where werent tens of millions so affected.
HBD is a great way to store ones value in Nigeria. Hopefully the concept as a medium of exchange will take off.
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