BuddhaPalm:


If anyone thinks governments will allow an alternate means of payment completely outside their control to supplant fiat money is dreaming.

In the end governments will band together and send BTC to the fringes of the internet, if they can't completely regulate it.

If it's declared illegal, lots of law abiding citizens won't touch it with a long pole.

That's like declaring gold illegal. Governments and companies are already including or making plans to include bitcoin as part of their treasury. Lol at governments banding together to send BTC to the fringes of the internet. For you to make this statement shows a profound lack of knowledge about the nature of the Blockchain. It's understandable as even many people who own bitcoin don't understand the implications of the technology. I recommend research before one opines on bitcoin and other cryptocurrency related topics.

Pension funds are already buying bitcoin and a significant percentage of the world's electricity is dedicated towards mining bitcoins. These arguments and opinions of yours are 2013 arguments and have long been treated.

No job still the government will not support or allow youths to look for alternative means to survive. Nigerian government and CBN did nothing when that fraudulent investment company called MMM was defrauding people here in Nigeria but now they banned one means of survival for Nigerian youths. Nigerian leaders will not support anything that will not benefit them and members of their families.

I don't know what to say again concerning this comment. All I know is that I made close to $1200 on Dogecoin
yesterday February 7 2021. 50k units at average price of $0.06 then sold it at $0.083

einsteine:



That's like declaring gold illegal. Governments and companies are already including or making plans to include bitcoin as part of their treasury. Lol at governments banding together to send BTC to the fringes of the internet. For you to make this statement shows a profound lack of knowledge about the nature of the Blockchain. It's understandable as even many people who own bitcoin don't understand the implications of the technology. I recommend research before one opines on bitcoin and other cryptocurrency related topics.

Pension funds are already buying bitcoin and a significant percentage of the world's electricity is dedicated towards mining bitcoins. These arguments and opinions of yours are 2013 arguments and have long been treated.

While I agree with most of your points ...the fact that crypto currency is moving and tilting gradually to becoming a global legal tender doesn’t mean it would retain any value if governments of the world especially the powerful countries decides to pull the plug and withdraw its support for crypto currencies...crypto can and would never be the future if it doesn’t enjoy the patronage of the government globally...people are getting involved and trading in bitcoin Cos of the value they see in it...now in Nigeria there’s some sort of panic due to the CBN directive imagine if the major economies in Europe and North America take this stand too what do you think would be the ripple effect on bitcoin and cryptocurrency?

The zoo should help itself and soak their budget inside ETH or AAVE or BTC and make profits. Leave it for 10 months

AreaFada2:

Weyrey.

Which mumu govt official will ask that in 2021?

my dear, them plenty ooo

slawormiir:
Damnnn niggarrrr
mumu cbn.... perused through the article as I put on my intellectual cap to read between lines while blazing my weed....I must say this article is devoid and bereft of intellect and nous
We go dey do Ptpt
If you are a niggarrrr and you understand what I meant by ptpt then you must be a real niggarr...

Light up my last tie of weed for the night as i return back to my huzzle and bombing...whether Nigeria government like it or not ....there will always be light and fire at the end of my weed while I puff from the other end

All what this Nigeria government wants is for us to be young, dumb and broke.....we reject it...

You guys joined hands to install a perpetual airhead as president

einsteine:



That's like declaring gold illegal. Governments and companies are already including or making plans to include bitcoin as part of their treasury. Lol at governments banding together to send BTC to the fringes of the internet. For you to make this statement shows a profound lack of knowledge about the nature of the Blockchain. It's understandable as even many people who own bitcoin don't understand the implications of the technology. I recommend research before one opines on bitcoin and other cryptocurrency related topics.

Pension funds are already buying bitcoin and a significant percentage of the world's electricity is dedicated towards mining bitcoins. These arguments and opinions of yours are 2013 arguments and have long been treated.

If they can't completely regulate it...

Governments won't tolerate untaxable income and transactions.

I really like the innovation of blockchain and cryptocurrency, it has so many advantages but one, it's allows anonymity which means that an unknown person can send money to another unknown person without trace. Most illegal activities were track based on their money transfer activities and cryptocurrency gives them the privilege to do transaction without any government noticing. That's very very bad.
My thought is, since the world cannot stop cryptocurrency, they should find a way to create unique user Identity so that a transaction can be traced to a person. That way, we can track who and who is sponsoring illegal activities.
Just know that a world where no one is accountable, no regulations or law will be an unlivable world for all. Everything will become jungle justice / survival of the wicked. You and I definitely don't want such a world.

Fragility6:

Like your name u b real nicodemus.No sense

God dam you my brother

SimplyFacts:


Ki lo n wi? I no read am.
It must be about Audiocurrencies

@the person below,,, intrinsic bawo? Are they discussing semiconductors

How you take post in-between

grossintel:
CBN is filled with old thinking people. Come and ban Peer to Peer trading on Binance na!

Ever since the news broke out, I still buy and selling BTC with ease like nothing happened.

The only people you're hurting are registered Fintech crypto companies. They are the onces paying taxes to the government because we don't.

Instead of enforcing KYC like developed countries did, you banned their activists and closed their accounts there by encouraging people to buy and sell from each other and thankfully there are so many PTP exchanges with escrow. Nigeria is backward abeg, useless policy with no single effect.

Hi. I'll love to know how to open crypto account and move money or convert fund to there

AroleOduduwa2:


You’re very clever, most people on here don’t know how this work. Digital coins are like any other stock, stock do right and fall, but the advantage of digital coin is it accessible to all and controlled by the end user, unlike traditional stock where there are inside trading.

I'm telling you bruh! Don't know if I should say the government are ignorant of this fact, or rather feel threatened due to the endsars donations in crypto they had no control over. Imagine banning such an innovation for petty reason like this.
Reason why we need more decentralized platforms to avoid being controlled by greedy and heartless regulators.

Farki:


If the law says the government can cut the prick of any man at random will you be a "law abiding citizen"?

This is something we could use to kick-start the flaccid and wasting economy and the government just banned it because

5 years down the line when it takes off people here will be asking why we didn't invest in it sooner. The same people who banned this can't deal with the bigger things like inflation, electricity, security and embezzlement.

One thing I've noticed is that law makers and criminals think in very similar ways, but one finds a way to get government support for their criminality.

Bitcoin will never be the standard, as it is merely a ponzi scheme.

Before you call me a crypto illiterate be mindful that i know a lot about it.

There's nothing backwards about banning it.

I think they would fair better regulating it though.

Yep law is life, once we understand that Nigeria will get better.

Mickeybook:
What if usa decides to ban cryptocurrency 2moro...do you have vision? Reason my brother

They are not stupid to ban it, they know it is the future of transactions unlike your clueless government

PrinceMajestic:
Nigerians love fraud too much. That's why the cryptocurrency gibberish is gaining popularity to my disgust every where I go are flyers of bitcoin trading. Can't you get a job or get a skill? How long will you be lazy looking for quick money

Bitcoin is not lazy or quick money you have to be intelligent to understand how the market moves, stop condemning what you don't know because you are in the 17th century

OgeFather:


Nah...my guy what the CBN is saying is right, nobody is issuing, nobody is regulating and no one to hold accountable for, this is MMM for the future

Imagine comparing Bitcoin to MMM, the world's richest man is into Bitcoin

BuddhaPalm:


If they can't completely regulate it...

Governments won't tolerate untaxable income and transactions.

Who says they are untaxable. You pay capital gains tax like you pay on any asset. This is the lack of knowledge that we are talking about.

Carlyboi:



While I agree with most of your points ...the fact that crypto currency is moving and tilting gradually to becoming a global legal tender doesn’t mean it would retain any value if governments of the world especially the powerful countries decides to pull the plug and withdraw its support for crypto currencies...crypto can and would never be the future if it doesn’t enjoy the patronage of the government globally...people are getting involved and trading in bitcoin Cos of the value they see in it...now in Nigeria there’s some sort of panic due to the CBN directive imagine if the major economies in Europe and North America take this stand too what do you think would be the ripple effect on bitcoin and cryptocurrency?

Foreign governments can't take that stand cos they are not stupid. Also governments don't determine the value of assets, the market does. The same people who panic sold as a result of CBN's announcement are looking for how to buy back. Tesla, one of the world's most innovative companies just bought 1.5 billion dollars worth of bitcoin.

Forget about the currency. Bitcoin is an outcome of a narrative changing innovation in distributive computing. It's as game changing as the internet

doxijaw:


Are you saying I'm not educated? You must have missed my comments in the other crypto threads.

If they benefited from it, they wouldn't have bugded .

So as civil citizens all we can do is to comply , hopefully they'll come around

You don't just hope and comply with sensitive issues like this ,you make your voice heard and apply pressure through whatever means ,these sort of policies have the potential to impact the most vulnerable people first,do you think our politicians are the most vulnerable in our society? They are also fighting for their interests , have they reduced their monthly allowances yet?why do you think they refuse to talk about it?

doxijaw:


Bitcoin will never be the standard, as it is merely a ponzi scheme.

Before you call me a crypto illiterate be mindful that i know a lot about it.

There's nothing backwards about banning it.

I think they would fair better regulating it though.

Yep law is life, once we understand that Nigeria will get better.

Crypto has been around for the last 10 years and has only appreciated in value, I'm sure you don't even know what a ponzi scheme means.


So you will be very fine with the government making castration at random a law? It is clear that I am dealing with someone who has no idea what they are talking about or is a paid government miscreant.

einsteine:


Who says they are untaxable. You pay capital gains tax like you pay on any asset. This is the lack of knowledge that we are talking about.

Did YOU personally pay capital gains tax on the BTC you've sold?

What percentage of the BTC sold by Nigerians do you think was taxed accordingly the government?

Farki:


Crypto has been around for the last 10 years and has only appreciated in value, I'm sure you don't even know what a ponzi scheme means.


So you will be very fine with the government making castration at random a law? It is clear that I am dealing with someone who has no idea what they are talking about or is a paid government miscreant.

You don't get it, bitcoin will never replace fiat, maybe another digital currency will.

As it is, just merely a tool for transferring wealth from late adopters to earlier one's.

A speculative instrument like this isn't going to achieve much for a country, that said it's great for individuals.

GindoX:


Hi. I'll love to know how to open crypto account and move money or convert fund to there

Contact me, my number is on my signature.

BuddhaPalm:


Did YOU personally pay capital gains tax on the BTC you've sold?

What percentage of the BTC sold by Nigerians do you think was taxed accordingly the government?

That's because the Nigerian government refused to regulate it. It's nobody's fault if the government chooses to blind itself to the tax opportunities.

chukemmang:
Only a fool will believe that the Nigerian government will make any policy that will be in favour of the citizens of Nigeria.

This buhari government are thieves. They have embezzled all pension funds. The sweat of all Nigerian workers. They now came to our money in the banks. They are starting with dormant accounts. When they finish stealing that one, they will now come to our normal accounts.

They are angry that they cannot access our Cryptocurrency and can see a lot of Nigerians getting smart and converting their naira to crypto. So they now came with this deceit to deceive ignorant Nigerians to leave money in their bank accounts so that they can steal it.

Yeye government.

The bolded summaries all. I've never & will never ever trust Nigeria government. They are group of criminals whose only interest is to steal the past, present & future of the citizens.

See this @ Flexherbal

IMASTEX:
See this @ Flexherbal

You dey see your people.

Genea:
Ludicrous, the truth is that FG don’t understand it and also because of wickedness. A govt whose officials asked if we store things in the cloud, what happens when it rains? Our govt has failed us, Buhari has failed us and to the youths, the time to japa is now. Naija is a failed state

You will find the wisdom when you stop taking things literally.

IMAliyu:

Technically they didn't ban it.
They just banned the exchanges from receiving Naira deposits.

Ownership and
Person to person transactions are still ongoing.

Of course, how can you get the naira equivalent?

southpole:
Can you mention only one person among the millions of people who bought bank IPOs in 2006 and 2007 that has recovered his or her capital? I am not even talking about making profits. Just one person out of millions that has recovered his capital from that investment. Waiting for your response

My 'orphan' male friend from IMO State, 1) went to LASU 2) Bought a house at Ejigbo 3) Married his fellow IMO woman and I think they have 3 kids now.
More players are needed in the Nigerian stock market. It is regulated & safer. Only those who can afford to lose their capital or money at any time should do bitcoin. In all u do with bitcoin, steer clear of LUNO

CamusMidas:

Of course, how can you get the naira equivalent?

Are you asking for how to sell for Naira?

Or just the simple Market value in Naira?