Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,153,504 members, 7,819,829 topics. Date: Tuesday, 07 May 2024 at 01:55 AM

Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers - Crime (5) - Nairaland

Nairaland Forum / Nairaland / General / Crime / Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers (32943 Views)

Kidnappers Abduct & Kill Salihu Dovo, Ardo-kola LGA Chairman In Taraba / Woodbery Defrauded US Firm Of $15.3 Million Stashed Away In Bitcoin Wallet / Police Arrest Kidnapper Who Collected $15,000 Ransom In Bitcoins (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (Reply) (Go Down)

Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by Olanipekun1: 2:22pm On Sep 17, 2019
[s]
GeneralPula:
.
[/s]
Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by bizzibodi(m): 2:26pm On Sep 17, 2019
pjc:


When they were demanding payments in cash, did you ask also that cash be outlawed too?

You are just one of them retards who are simply afraid of what they don't know.

I suggest you go for a complete course on digital currencies before spewing trash.
Dumb mind d jobless mumu!

2 Likes

Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by Nobody: 2:29pm On Sep 17, 2019
NGRsenate:


I mentioned “simple economics of the internet”

But your big ego and need to blow big English will not let you see it and look it up.

Those who know how they benefit from cryptocurrency are living their lives. If you don’t know how exploiting a foreign economy can benefit one’s local economy then I don’t know what else to tell you.

If you choose not to crack open google and enlighten yourself, don’t expect to do it for you.

Have you taken an IQ test before?

Hmmm . . . I'm actually curious too - how do crypto-currencies benefit the Nigerian economy?

2 Likes 1 Share

Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by bizzibodi(m): 2:31pm On Sep 17, 2019
GavelSlam:


In an advanced nation, yes.

In Nigeria, no.

Knowing your customer in a system that is built for anonymity? Come on now.
My friend KYC is not rocket science na,I hav gone thru it b4 when dealing on perfect money as far back as 2012.

1 Like

Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by Fallenhunter: 2:46pm On Sep 17, 2019
bizzibodi:

The individual make up d nation,are they no national benefit if d cryto is converted into # & $ an spent or invested in nigeria?d taxes d govt.has been taking from us where are d benefits, just point to one.

The government is useless but without tax they won't exist. No laws, no courts, no police (as useless as they may be), no ambulance and govt hospitals or free education for the poor. The oil won't last forever and Nigeria isn't developed enough to be a tax free haven so once taxes go, all of these will go as well

3 Likes 1 Share

Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by Fallenhunter: 2:51pm On Sep 17, 2019
Soul47:


Benefits of using Bitcoin

1. Reduced Transaction Fees
2. Easy to Use in Any Situation
3. No Involvement of Any Third Party
4. Quick Payments
5. International Payments Made Easy, faster and cheaper
6. Control over your money: No one can charge you on your money or unnecessary deductions for no reason.
7. Everywhere and anytime it is available for use
8. Opportunities Bitcoin Opens in Several Business Verticals:
a. Bitcoin Mining
b. Bitcoin trading
c. Store of value
d. Local Bitcoin exchange
e. Crypto education (fees)
*** Self employment.

These amidst others.

It doesn't mean there are no cons to it, but if it is embraced and regulated it's no issue, it will take a while but that doesn't rule out the possibility.

Plus you know of crypto security company...
With that transactions can be tracked when need be.

I typed this hurriedly...

The cons are that it's extremely disadvantageous to the country. It has many benefits for individuals but is bad for the group and it's very difficult to control or regulate and impossible to devise monetary policy. It's also international so doesn't help national level interests of any country.

Cryptos make sense for tax free havens and the like, not for any normal country

2 Likes 1 Share

Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by ferdybillion(m): 3:01pm On Sep 17, 2019
GavelSlam:


I'm an itsekiri man with advanced degrees in the physical sciences.

Live more than 200 days in a year in Europe and the States.

What do you know?

Where have you been?

What is the standard of your education?

And lastly, of what benefit is cryptocurrency to the local Nigerian economy?
my itsekiri brother wetin you dey talk sef? I've been reading all what you have been writing but you are just talking in circles. When you've traveled from heaven to hell so what tech or development have you brought to your village let alone your street.

2 Likes

Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by GavelSlam: 3:07pm On Sep 17, 2019
Fallenhunter:


The cons are that it's extremely disadvantageous to the country. It has many benefits for individuals but is bad for the group and it's very difficult to control or regulate and impossible to devise monetary policy. It's also international so doesn't help national level interests of any country.

Cryptos make sense for tax free havens and the like, not for any normal country

Thanks for the response and I appreciate your viewpoint.

The problem with many Nigerians is that they never engage in critical thinking. Perhaps it hurts their heads.

Crypto has been discouraged by every nation across the world despite some advancement in some of these societies.

Many countries do not have the means technologically or even by way of policy to tackle its existence, so at best, they tolerate it.

Nigerians on the other hand, have no national database, open borders, no CCTV, no forensic expertise, no technological know how, lots of criminally minded individuals who would cash in on this platform to perpetuate evil beyond imagination.

Sadly, all that most Nigerians hear is the ching ching of money and not the blowout possible.

2 Likes 1 Share

Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by GavelSlam: 3:08pm On Sep 17, 2019
ferdybillion:
my itsekiri brother wetin you dey talk sef? I've been reading all what you have been writing but you are just talking in circles. When you've traveled from heaven to hell so what tech or development have you brought to your village let alone your street.

What does that have to do with the topic?

Simple question, you cannot answer.

Again, I ask of what benefit is cryptocurrency to the local Nigerian economy.
Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by GavelSlam: 3:11pm On Sep 17, 2019
Ruggedniggaone:
I swear gavel has achieved his aim he just want to divert your attention from bulhari incompetence to provide security for the entire nation he never step out of his village in kutuwenji not to talk of going to Europe Europe KO Asia ni

Attention seeker.
Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by GavelSlam: 3:13pm On Sep 17, 2019
Mrexcell:



This bitcoins payment is now surely going to be the new trend for kidnappers. The response from this clueless buhari govt will be to go after people who deal on crytocurrencies in nigeria.

It is not about a clueless government.

If you got kidnapped in Ortukpo what can save you?
Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by Nobody: 3:17pm On Sep 17, 2019
eTECTIV:


Is cryptocurrency d problem here? U completely ignored d elephant in d room only to rant about something else
God bless you. I have been saying it when graduates decides to go into kinapping and armed robery Nigeria go here word.
Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by Fallenhunter: 3:18pm On Sep 17, 2019
GavelSlam:


Thanks for the response and I appreciate your viewpoint.

The problem with many Nigerians is that they never engage in critical thinking. Perhaps it hurts their heads.

Crypto has been discouraged by every nation across the world despite some advancement in some of these societies.

Many countries do not have the means technologically or even by way of policy to tackle its existence, so at best, they tolerate it.

Nigerians on the other hand, have no national database, open borders, no CCTV, no forensic expertise, no technological know how, lots of criminally minded individuals who would cash in on this platform to perpetuate evil beyond imagination.

Sadly, all that most Nigerians hear is the ching ching of money and not the blowout possible.


You're welcome and yes many people don't appreciate that for your country to do something for you, you need to do something for your country.

Exactly as you say many countries have either outlawed or imposed severe restrictions on cryptos because they lack the technology to trace and regulate them and because their encryption makes tracing the payments extremely difficult.

Yes Nigeria lacks any means of tackling or regulating crypto much less tracing such payments. As I said on an individual level crypto can be profitable but at the detriment of the nation. It creates a weaker currency, helps avoid tax and creates security issues. If your job involves crypto speculation or you regularly use it to hedge your currency or to avoid taxes or you use it for shady, untraceable transactions, it can be great for you but it hurts everyone else.

2 Likes 1 Share

Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by GavelSlam: 3:18pm On Sep 17, 2019
rawitools:
God bless you. I have been saying it when graduates decides to go into kinapping and armed robery Nigeria go here word.

They started with oil workers in the early noughties.
Has it helped?
Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by Houstency(m): 3:24pm On Sep 17, 2019
yinkeys:
Bitcoin can be traced if it hasn’t been mixed yet. It would have been easy to get the kidnappers but it’s probably late now. They would have tracked it

Can still even be tracked I think, to where it was sold, the issue is if it was sold in OTC outlets or on a centralised exchange.
Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by MASTERCHIEF0847(m): 3:25pm On Sep 17, 2019
GavelSlam:
Government should make it illegal for cryptocurrency to be used in any form in Nigeria.

Should it be found on your person it should be immediate jailing.

I know sole slowpokes would come here to talk nonsense.

Nigeria is not a technological/advanced society and even many advanced countries are yet to accept it.

In addition, criminal actions are rife across the country. Unlike any other nation.

In fact, the youth embrace it with impunity and bravado.

Majority of kidnap cases where ransom is paid its done in cash, would you now suggest they ban naira notes? Village mgbeke.
We must outlaw cryptocurrency.
Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by Ruggedniggaone: 3:28pm On Sep 17, 2019
GavelSlam:


Attention seeker.
zomB General welldone tell bubu to call his boys to order

1 Like

Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by Starz825(m): 3:28pm On Sep 17, 2019
DrHoganObi:
Police paid Ransome to release DPO from kidnappers.
This is Nigeria grin
Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by Starz825(m): 3:29pm On Sep 17, 2019
GavelSlam:
Government should make it illegal for cryptocurrency to be used in any form in Nigeria.

Should it be found on your person it should be immediate jailing.

I know sole slowpokes would come here to talk nonsense.

Nigeria is not a technological/advanced society and even many advanced countries are yet to accept it.

In addition, criminal actions are rife across the country. Unlike any other nation.

In fact, the youth embrace it with impunity and bravado.

We must outlaw cryptocurrency.
Crypto currency or not... criminality go still dey
Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by Nobody: 3:30pm On Sep 17, 2019
GavelSlam:


They started with oil workers in the early noughties.
Has it helped?
Fulani would not think of bitcion as a mode of payment.

1 Like

Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by Globaladventure: 3:33pm On Sep 17, 2019
yinkeys:

If you’re not knowledgeable about something ask experts. Unmixed bitcoins can be traced.
Don’t just assume you know it all
unmixed bitcoin? PLS, what planet did u come from??
Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by yinkeys(m): 3:40pm On Sep 17, 2019
Globaladventure:
unmixed bitcoin? PLS, what planet did u come from??
There’s a lot of catching up for you to do.
Honestly
No point responding to you
Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by eagleonearth(m): 4:13pm On Sep 17, 2019
GavelSlam:
Government should make it illegal for cryptocurrency to be used in any form in Nigeria.

Should it be found on your person it should be immediate jailing.

I know sole slowpokes would come here to talk nonsense.

Nigeria is not a technological/advanced society and even many advanced countries are yet to accept it.

In addition, criminal actions are rife across the country. Unlike any other nation.

In fact, the youth embrace it with impunity and bravado.

We must outlaw cryptocurrency.
it's virtual, you can't find it on anyone
Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by addictiv(m): 4:15pm On Sep 17, 2019
GavelSlam:
Government should make it illegal for cryptocurrency to be used in any form in Nigeria.

Should it be found on your person it should be immediate jailing.

I know sole slowpokes would come here to talk nonsense.

Nigeria is not a technological/advanced society and even many advanced countries are yet to accept it.

In addition, criminal actions are rife across the country. Unlike any other nation.

In fact, the youth embrace it with impunity and bravado.

We must outlaw cryptocurrency.
Very poor judgment displayed in this comment

2 Likes

Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by ernieboy(m): 4:27pm On Sep 17, 2019
eTECTIV:


Is cryptocurrency d problem here? U completely ignored d elephant in d room only to rant about something else
don't mind that idiot, we have many folks like that in this country who have sub par reasoning abilities and unluckily for us many of them are in positions where they take far reaching decision. kidnappers have been collecting money using Fiat currency, why has the govt not banned naira and Kobo and dollar currencies?

1 Like

Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by Divit(m): 4:27pm On Sep 17, 2019
GavelSlam:


In an advanced nation, yes.

In Nigeria, no.

Knowing your customer in a system that is built for anonymity? Come on now.

Your comment shows you understand nothing about crypto and blockchain. No disrespect.
It’s very possible to regulate crypto since the on-chain (bitcoin network) token (bitcoin) will require it’s own proprietary deamon (Node) which needed to be installed on a droplet (Core server) before wallet addresses can be generated and monitored by the chain, then firms/services running this node needs to be strongly warned and regulated to collect, store and report their users/customers details to the regulatory agency/body.
So to curb this issue of anonymity, before an end user can register to WaaS (Wallet as a Service) platform like coinbase, blockchain, coinomi, etc, certain Identification documents needed to be submitted by the user before being granted full access to the service. (I.E. ability to create personal bitcoin wallets). What can’t be trace is a plain bitcoin SHA256 protocol address not who created a multi-sig wallet address.
I hope this isn’t too big for you to understand smiley

2 Likes

Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by namedo: 4:28pm On Sep 17, 2019
The worst line of thought I've ever read from a supposed literate Nigerian.
Literacy is not only defined by the number of academic laurels gotten but also by sheer enlightenment in all fields of endeavour. Your likes still live in the stone age.
GavelSlam:
Government should make it illegal for cryptocurrency to be used in any form in Nigeria.

Should it be found on your person it should be immediate jailing.

I know sole slowpokes would come here to talk nonsense.

Nigeria is not a technological/advanced society and even many advanced countries are yet to accept it.

In addition, criminal actions are rife across the country. Unlike any other nation.

In fact, the youth embrace it with impunity and bravado.

We must outlaw cryptocurrency.

1 Like

Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by ernieboy(m): 4:31pm On Sep 17, 2019
Bagehot:


Hmmm . . . I'm actually curious too - how do crypto-currencies benefit the Nigerian economy?
are u aware that crytocurrencies can lead to foreign exchange inflow? at a time when many countries are embracing crypto currency some ignorant folks here want to take us to the stone age.

1 Like

Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by GavelSlam: 4:37pm On Sep 17, 2019
Divit:

[s]
Your comment shows you understand nothing about crypto and blockchain. No disrespect.
It’s very possible to regulate crypto since the on-chain (bitcoin network) token (bitcoin) will require it’s own proprietary deamon (Node) which needed to be installed on a droplet (Core server) before wallet addresses can be generated and monitored by the chain, then firms/services running this node needs to be strongly warned and regulated to collect, store and report their users/customers details to the regulatory agency/body.
So to curb this issue of anonymity, before an end user can register to WaaS (Wallet as a Service) platform like coinbase, blockchain, coinomi, etc, certain Identification documents needed to be submitted by the user before being granted full access to the service. (I.E. ability to create personal bitcoin wallets). What can’t be trace is a plain bitcoin SHA256 protocol address not who created a multi-sig wallet address.
I hope this isn’t too big for you to understand smiley[/s]

Absolute tosh.

A network of criminals based in Russia or Iran would make minced meat of this theory.

Talk to simpletons.
Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by GavelSlam: 4:37pm On Sep 17, 2019
eagleonearth:
it's virtual, you can't find it on anyone

You can find blockchain apps, segues to cryptocurrencies and that's what you make illegitimate.
Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by Soul47(m): 4:50pm On Sep 17, 2019
GavelSlam:


Thanks for the response and I appreciate your viewpoint.

The problem with many Nigerians is that they never engage in critical thinking. Perhaps it hurts their heads.

Crypto has been discouraged by every nation across the world despite some advancement in some of these societies.

Many countries do not have the means technologically or even by way of policy to tackle its existence, so at best, they tolerate it.

Nigerians on the other hand, have no national database, open borders, no CCTV, no forensic expertise, no technological know how, lots of criminally minded individuals who would cash in on this platform to perpetuate evil beyond imagination.

Sadly, all that most Nigerians hear is the ching ching of money and not the blowout possible.


You miss the point.

That Nigeria does not at the moment have the aforementioned tools for regulating crypto in no way mean they cannot have it when they choose to embrace it.

And Chief you are woefully wrong to say crypto has been discouraged by every nation across the world...

@Fallenhunter

What you said is right about benefits/earnings from crypto going to individual pockets and little or nothing going to the government.

To me, I don't know how many are patriotic enough to think about a government that barely care for them and since it's an honest investment myself and other non-lazy youths have embraced it.

Now, don't you think the government will gain massively from it when they choose to embrace it?

For example, imagine the government create 4 mining farms of
10,000 machines each... Great revenue will be generated from that alone.

That's my 2cents on the matter anyway.

Ireland, China and USA have one of the biggest cryptocurrency mining farms, and yes it's owned by individuals but there is no way the government wouldn't have been aware and approved such.

There may still be a way to tax crypto earners but am void of that at the moment.

I just think it's wrong for the guy to say crypto should be ruled out completely.

1 Like

Re: Umar Ardo: I Paid $15,000 In Bitcoin To My Daughter’s Kidnappers by Soul47(m): 4:59pm On Sep 17, 2019
GavelSlam:


Absolute tosh.

A network of criminals based in Russia or Iran would make minced meat of this theory.

Talk to simpletons.

If you could rule out his comment as trash then you deserve no further attention.

You ignorantly claimed crypto couldn't be traced, he proferred how to do that.

If the government were kneen on tracing crypto transactions and are well equipped wouldn't they do that successfully?

But here you are countering what he said so you would appear right?

Are Russians Nigerians? No.

And do you think fraud can be completely eradicated from a society? No. But can be minimised.

2 Likes

(1) (2) (3) (4) (5) (6) (7) (Reply)

Police Nab Herbalist For Abducting Lovers For Ritual / Father And Son Sentenced To Death By Hanging In Zamfara / Mozambican Women Caught Washing Used Facemasks To Resell

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 63
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.