TheGiftedOne:
Tell me something. Can you please tell me who appoints the governor of CBN? nothing i no go see for NL.

SaintUlot:


Who told you crypto can't be banned? History and trends has shown that it can be banned and it is very easy to do, just by putting some things in place and you see everything goes back to zero.That's why they always advise crypto market players to trade with what they can afford to lose, because anything can happen.

Take for instance, if countries ban bitcoin mining, the fud that will create is enough to crash the market completely. Banks generally are being affected by the popularity of crypto and all Banks in the whole universe are being affected.

I am a crypto enthusiast myself and i have been on it for over 6 years, before you talk say i don't know what i am saying.

adonainana:


The supply of bitcoin is fixed youngman, what this means is once all that has been in supply has been bought, you can only buy it from someone who has it. People put thier money in bitcoin because the other world global fiat currencies such as dollars etc won’t be able to cope with what has been happening recently due to the pandemic etc

You can wake up anyday and print more dollars and flood the whole system with more dollars, you can’t with bitcoin, bitcoin supply is finite meaning it has an upper edge over dollars and other fiat currencies

iamJ:
money is a legal tender that is guaranteed by a government

Bitcoin isn't guaranteed by anyone, if everybody using it decide to pull out, it will crash to zero cause bulk of it's current value is inflated

CooldudeX1:
Bitcoin isn't guaranteed by anyone and yet billionaires like Elon Musk and Robert Kiyosaki are endorsing. Maybe you know better than the global market capitalisation.

wwwtortoise:
The Nigerian government is anti-people.
Whatever benefits the populace give them sleepless night.

Crypto is here to stay as no policy can stop this technology. China tried to control it but failed.

iamJ:
where is the headquarters located at?



Who is the head of the organization?

NiRfreak:

Ode gidi ni e....I wonder how u are allowed to type on Nairaland.

iamJ:
supply of bitcoin being fixed means nothing, it will only inflate the value further

bitcoin is also fiat, what is the intrinsic value of bitcoin?

CSTRR:
There are prominent Nigerians on Twitter asking tech start ups to move to Rwanda.
We need to be careful.

Yes, we are angry, but we need to be patriotic.

Buhari and his failed govt will not be there forever.

Let us think about the future of this country and exercise a bit of restraint.

Hopefully, a drastically different individual will take over in 2023.

iamJ:
where is the headquarters located at?



Who is the head of the organization?

essay007:

That is one of the best thing crypto has given to people. The freedom to be in control of ur money. It is decentralized. No government or banks has to be in charge but you who's the owner.
Please read up on cryptocurency

Omihanifa:
The central bank is just plainly stupid for taking this funny decision

They banned it simply because they don't know how the system works.

The CBN should better wake up and embrace technology. the world is moving away from Fiat money

Ordinary dollar they can't provide sufficiently for businesses in the country now people are moving towards digital money they are getting angry.

Thesame government that can't provide jobs for the masses wants to kill the little that is putting food on the tables of Nigerians

BuddhaPalm:


Have you ever bought anything with crypto?

joey150:


If the value is in naira, then explain how it's written in dollars and you can buy bitcoin from someone selling in the US (through the exchange) and the person in the US can then choose to withdraw in dollars? Your value is in Naira quite alright, but converted to the dollar equivalent.


Before Nigerian Cryptocurrency exchanges became popular, people did peer to peer transfer where they would use the current bitcoin price and then sell based on the equivalent exchange rate in naira. And if I recall, then you could only directly buy crypto from an exchange using a foreign currency.

If the Nigerian dollar exchange rate shoots up or drops, dosen't it affect how much dollars is reflected in your dashboard when you credit your wallet or want to withdraw?

Please point out anything that I may have missed.

BlueAir:
I laugh in Swahili. If I wan buy my crypto. I go still buy

Theoutsider:


Unless you understand bitcoin.. do not make an argument. Bitcoin follows the same lines of the Nasdaq so is the Nasdaq a bubble? If so, whats your point?

gypsey:
I doubt if anything would change. Even if someone else takes over, it would be one of them, the same set of ignorant cretins. I bet you $1000 nothing would change when someone else takes over.

essay007:

That is one of the best thing crypto has given to people. The freedom to be in control of ur money. It is decentralized. No government or banks has to be in charge but you who's the owner.
Please read up on cryptocurency