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RE: Bitcoin vs. Tulips

in #bitcoin7 years ago

Really, that is kind of rare not to have at least one social media account, in this age. Well, i guess he prefers the physical meetings than online.

Yeah, with the recent spike in SBD, it could generate something worthwhile for friends living in Nigeria. And moreso, if its consistent for the whole month, it should be able to serve the minimal basic needs on a moderate level.
I have been wondering why we have so much gap in cost of living in Western Europe, US and North America.
Actually, with 1 SBD at 10 usd, 100 SBD will pay the rent for a good house, for one full year in Nigeria, at least in most cities. And around 700-1000 SBD will get you an expensive house. However, the rent many times requires you to pay for services separately.

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Really, that is kind of rare not to have at least one social media account, in this age. Well, i guess he prefers the physical meetings than online.

My friend is quite the introvert. He prefers spending time alone very much. He loves to hike alone.

I have been wondering why we have so much gap in cost of living in Western Europe, US and North America.

Salaries are much higher in WE and NE compared to Nigeria. GDP per capita is 15 to 25 times higher in Western Europe. Income inequality is much higher in Nigeria than in both WE and NE. The producers of basic goods and services (food, housing, transportation etc.) whose prices best represent the cost of living are mostly people with income close to the national median. With very high income inequality you can have a not-so-low average level of income in spite of having the middle deciles having quite low levels of income.

You are right with the data. However, it is more worrisome that the "average level" of income are luxuries, because such average jobs are mostly governmental. For private sectors, you would be willing to cope and manage with the barest minimum they can pay. Jobs are not everywhere like in WE and NE. And moreso, basic amenities are privileges, because of decades of corruptions. So an average person income would be spent on basic amenities at higher cost. Imagine, wifi are not as common and cheap as in WE and NE, also electricity is not a 24/7, despite government spending billions of dollars on it. Someday, the right leaders will emerge.
I think you can do a little help by searching posts under "nigeria" tag from new, trending to hot. You would know that as much as those conditions exist, Nigerians have alot to offer.