Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

So why not create a Nigerian domiciled crypto, put a cap on investment if foreign or otherwise regulate it?

Crypto has come to stay. In an economy slow to create any jobs, we cannot slam the door on such an opportunity without a second thought while other liberal economies are exploring how to harness it.

PrinceOfLagos:
Nigerians deserve a man like buhari .

We warned them in 2015 but they callled us names

Let them enjoy the buhari bad effects

You are right ! I am one of those who warned them about buhari but they just wouldn't listen...I was often called names and even insulted by one family member ! .As they say ,time will tell so here we are! Unfortunately we all have to suffer for the refusal of some of us to see the writing on the wall .If only those who voted for buhari could have him while we have ours, by now most of them would be trying to escape from the buhari governed areas . We would have had to build a wall to keep them out!

Just how do you regulate a global online investment like cryptocurrency?

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

Bitcoin has no source Nation, it is mined online in every country with internet

Why don't you just research about Bitcoin rather than all this shamefully trash you are posting Bitcoin is not dollar based or commodity based country currency doesn't really affect it

Kwanza:

https://www.pmnewsnigeria.com/2021/02/06/atiku-appeals-to-buhari-dont-shut-down-cryptocurrency-business/

APC is working hard towards losing power in 2023. A lot of Nigerians are into cryptocurrency not only for trading but also for investments/savings. How crypto is different from stock is what I don't understand. People lose money in Nigeria stock exchange when the value of shares nosedive and also when companies go bankrupt. We have seen many cases - Skye Bank, Bank PHB, and many others. Investors lost their money. Baba Blue is still there operating and CBN hasn't shouted "it's risky".

Continue to take anti-people decisions - you will meet the people at the poll in 2023.

Farolo:


What people like you don't know is the market is fluid and just like water, it must find its level or its way.

Patriotism doesn't build an economy or market. Policies and approach to business does. All you wrote is just hogwash. I apologize.

How many ordinary people trading on the stock market have made a profit? Matter if fact, stocks we bought since 2007 have not even yielded their capital because of the scam and in-trading going on in the NSE.

You treat people like shlt, they flourish and you're trying to stifle them? It won't even work.

You also raised a point about keeping your money in the bank so they can round trip, and "boost the economy" Lol.

These banks make money off you, while you remain poor; this is not putting hyper inflation which has come to be today into consideration.

An example is this. Sometimes in 2020, I ran about ₦30M through my account. Do you know for the months my funds were there, FCMB were stealing from me? Yes literally stealing because the arbitrary charges they were collecting weren't even reflecting in my account statement and they didn’t even send notifications for them.

In all, the CBN made a wrong call and they will lose more because

1. THEY CAN'T BAN BITCOINS.

2. Nigeria was just beginning to be a global hub for fintech. That's gone now.

3. Jobs will be affected and you know the funny thing, this does not even affect the peer to peer bitcoin exchange industry in Nigeria. It's the exchanges who were creating jobs this policy affects not bitcoins per se.

Also if history has thought them nothing, they should know Nigerian youths are very good innovators and this is just a speck of stone thrown at a behemoth wall. I currently have over 1,000 BTC in my wallet as we speak and I'm not even moved one bit!

I assume Nigeria gave you that initial capital, you have tried the shares, it didnt appreciate, you tried the banks, the 3% was too small.. have you tried society, real estate other avenues rather that taking away that forex which I assume you raised from Nigeria..

There is always the P2P option until the scams of crediting and not crediting takes over.

antibullshit:

You are right ! I am one of those who warned them about buhari but they just wouldn't listen...I was often called names and even insulted by one family member ! .As they say ,time will tell so here we are! Unfortunately we all have to suffer for the refusal of some of us to see the writing on the wall .If only those who voted for buhari could have him while we have ours, by now most of them would be trying to escape from the buhari governed areas . We would have had to build a wall to keep them out!

Is PMB the CBN governor or an okoro fool ?.

Kwanza:

https://www.pmnewsnigeria.com/2021/02/06/atiku-appeals-to-buhari-dont-shut-down-cryptocurrency-business/

I don't understand this noise about crypto, naturally government everywhere in the world don't like anything they can't control, go check out all the central bank in the world or treasury department they have similar stand on crypto currency. The CBN didn't ask individuals not to deal in crypto currency they asked the banks, if I want to buy crypto tomorrow I can always do so, so why the noise?

thebosstrevor1:


The best comment ever

What's best about this comment?When una go get sense.So all the world economies that didn't ban it are dumb shebi?

thinking of a university course with federal government grants

and COWOLOGY doesn't come across your mind you haven't just started

Springboot:
Crypto has no positive influence on the economy but damage to the naira further, an import dependant country like Nigeria need to be careful with digital currencies. Meanwhile Atiku we know you're only saying this because of your presidential ambition. We are not FOOLS.

Cryptocurrencies don't damage the Naira in any way! If it is having an adverse effect on the Naira it is the Nigerian government that is causing it through their stupidity. Under normal circumstances cryptocurrency should help ease the pressure on the Naira.

People can buy cryptocurrency in Naira, travel abroad and change it to the currency of their choice.

Through that CBN saves forex.

They should be encouraging cryptocurrency not the other way round!

They won't listen...

antibullshit:

You are right ! I am one of those who warned them about buhari but they just wouldn't listen...I was often called names and even insulted by one family member ! .As they say ,time will tell so here we are! Unfortunately we all have to suffer for the refusal of some of us to see the writing on the wall .If only those who voted for buhari could have him while we have ours, by now most of them would be trying to escape from the buhari governed areas . We would have had to build a wall to keep them out!

The reason most of us who warned them about Buhari are better off is because we knew what was coming. I already tightened my belt before he was sworn in on 29 May 2015. We knew a raft of bad policies and incompetence would follow. And he didn't disappoint.

Sure I am not saying it's easier for anyone, but unlike Sai baba chanters of yore, we that they called Tanoids, Ipob youths, ogogoro drinkers and such can siddon look them as they groan.

cuz u are a 100% benefactor right I get.

There is too much centralization in Nigeria.

States in Nigeria that is comfortable with Crypto currency can run it.

Those states that want to follow Buhari policy should get it shut down at their respective states.

Every policy in Nigeria should not be federalise.

We have Kano state that forbid beer and alcohol consumption as it is against muslim way of life.

They set up Hisbah to implement it.

The same goes with crypto.

If the south east and the south south want to go for cyrpto they should be allowed.

DEMOCRACY MEANS A LOT OF THING TO THE PEOPLE.

BUHARI SHOULD NOT COME AND SHATTERED THE YEARS OF PROGRESS THAT WE HAVE ACHIEVED FROM DEMOCRATIC SYSTEM.

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

Are you an Economist or an armchair Economist? Your thesis up there is lame.

Atiku cannot know more than the president nau, is he the president??

Truth of the whole matter is, the Government are visionless and just blinded themselves from knowing the exact figures being traded via crypto, because now, everyone will embrace peer2peer trading which will make it practically impossible for them to identify what is being exchanged.

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay b]

Fake patriot!

Some of you will Just open your gutter waaaaa

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

Childish line of thoughts. And did the purchase of crypto assets not flow through banks?

Jerryherd:





Mscheeew!!! Meaningless Policy

Paxful is still hot with trade

Now I hate to say it but we have a dumb government headed by Buhari

I traded Bitcoin this morning, you really can't stop Peer to Peer Bitcoin, you can't shut Account for transactions you don't know the source


To understand how stupid Buhari is

*He limited funds MasterCard and Visa cards holders can get every quarter (3 months) to $1000 that's like 120,000 a month... What trader or importer can successfully import goods with 120k a month

*Now Crude Oil prices are low, our foreign reserves are down ... In simple terms we don't have enough dollars, yet some imbeciless shutdown cryptocyrrency the major alternative to dollars




.

He has bluntly refused to accept a devaluation of the Naira hence, this ludocrous policy.

How can the exchange rate remain the same if capital inflows drop from $23.9b to $9b from 2015 to 2019? And we have not discussed that of crude oil, the main source of forex.

chai u know wetin they pain me say na 2years remain for this tenure

mrfreestuff:


I think you missed his brilliant analysis sir. You guys are loading naira to buy USD which is now shipped outside Nigeria for hoarding and possibly to build their own economy at your own risk. You are their MAGA o!
Remember, you will still change the Bitcoin back to naira to spend in an economy you robbed of the returns on the value stored in it.

Just 1 year run of it, naira has been devalued twice and you still don't get it that mopping and exporting $200 million monthly when you earn less USD inflow is suicidal and can never be sustained?
It is the greed that eventually exposed how the business is practically killing the rest of us not in it.

Na wa oo.People dey dumb Sha.......so the best way to forstall loss of the naira is to close crypto business

Is only crypto that can devalue the naira??There are like a thousand things that can kill ur currency!!eg- GDP , unemployment rate, stupid policies like the one ur dullard just did

Make una try dey read book and travel around!

thebosstrevor1:


You call crypto livelihood or you think crypto is selling orange in the market.

Do you know how many people have lost their savings in crypto

Shut up fooool And stop having an opinion on what you know nothing about!

Jerryherd:





Mscheeew!!! Meaningless Policy

Paxful is still hot with trade

Now I hate to say it but we have a dumb government headed by Buhari

I traded Bitcoin this morning, you really can't stop Peer to Peer Bitcoin, you can't shut Account for transactions you don't know the source


To understand how stupid Buhari is

*He limited funds MasterCard and Visa cards holders can get every quarter (3 months) to $1000 that's like 120,000 a month... What trader or importer can successfully import goods with 120k a month

*Now Crude Oil prices are low, our foreign reserves are down ... In simple terms we don't have enough dollars, yet some imbeciless shutdown cryptocyrrency the major alternative to dollars




.

but solmus you been vote buhari now the change don finally reach you ? ... no worry more to come

Jerryherd:



Bitcoin has no source Nation, it is mined online in every country with internet

Why don't you just research about Bitcoin rather than all this shamefully trash you are posting Bitcoin is not dollar based or commodity based country currency doesn't really affect it

There is nothing that has no source...

This is just simple endsars crackdown.

Simple as abc

Birds of the same feather
Idiots

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation opp(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

So you're saying nigeria should close its economy instead of opening it? Countries that do that never prosper. They couldn't even give a reason for it The truth is they're up to no good and want to shut down any opposition and sources of wealth they don't control . They're doing this for selfish oppressive reasons! They're doing it to consolidate their grip on power not caring about anyone but themselves !
Are you for real? Crypto currency is used all over the world and what stops nigeria from creating one? People like you deserve buhari but unfortunately the rest of us also have to suffer due to your blind support for this cruel dictator !

groomed:
idiot, there are people like us that receive funds in Bitcoin and we run monthly figures in hundreds thousands of dollars... within a subsection of nairaland here. Let's not talk about the the entire Southern Nigeria

But you APC baboons and wasted sperms will come here (after your whatsapp meeting) to tell us that APC led admin made the best policy to kill your motherfucking mother... I COULD put a gun through your lungs... yes, I said what I said.

Do you have any business, do you? God knows the day I will meet any of you bastard offline supporting this demonic party offline just because you are benefiting from it, BLOOD MUST FLOW and I am really looking forward to that day.

There's a guy who lives a town in Ondo state that makes about 500-700k daily trading Bitcoin. He has people working for him. He pays them 50k monthly. That's huge in that town