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Nairaland Forum / Nairaland / General / Business / CBN: Why We Banned Cryptocurrency In Nigeria (61628 Views)
Breaking: CBN Lists Reasons It Banned Cryptocurrency In Nigeria / Can We Stop The Ignorance? CBN Did Not Ban Cryptocurrency In Nigeria / Aishah Ahmad: Profile Of The CBN Deputy Governor (2) (3) (4)
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Re: CBN: Why We Banned Cryptocurrency In Nigeria by einsteine(m): 11:05am On Feb 08, 2021 |
BuddhaPalm: 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. 1 Like |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Ashirioluwa: 11:19am On Feb 08, 2021 |
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 |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Carlyboi(m): 11:24am On Feb 08, 2021 |
einsteine: 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? |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by AntiNigerian: 11:25am On Feb 08, 2021 |
The zoo should help itself and soak their budget inside ETH or AAVE or BTC and make profits. Leave it for 10 months |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Genea(f): 11:51am On Feb 08, 2021 |
AreaFada2:my dear, them plenty ooo |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Asadujames202(m): 12:18pm On Feb 08, 2021 |
slawormiir: You guys joined hands to install a perpetual airhead as president |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by BuddhaPalm(m): 12:18pm On Feb 08, 2021 |
einsteine: If they can't completely regulate it... Governments won't tolerate untaxable income and transactions. |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by asco15(m): 12:23pm On Feb 08, 2021 |
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. |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Nicoddemus(m): 12:49pm On Feb 08, 2021 |
Fragility6: God dam you my brother |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by GindoX(m): 12:50pm On Feb 08, 2021 |
SimplyFacts: How you take post in-between |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by GindoX(m): 12:51pm On Feb 08, 2021 |
grossintel: Hi. I'll love to know how to open crypto account and move money or convert fund to there |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Twinkie1000(m): 12:53pm On Feb 08, 2021 |
AroleOduduwa2: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. 1 Like |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by doxijaw: 1:00pm On Feb 08, 2021 |
Farki: 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. 1 Like |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Subzero047: 1:13pm On Feb 08, 2021 |
Mickeybook: They are not stupid to ban it, they know it is the future of transactions unlike your clueless government |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Subzero047: 1:14pm On Feb 08, 2021 |
PrinceMajestic: 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 |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Subzero047: 1:18pm On Feb 08, 2021 |
OgeFather: Imagine comparing Bitcoin to MMM, the world's richest man is into Bitcoin 1 Like |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by einsteine(m): 2:41pm On Feb 08, 2021 |
BuddhaPalm: 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. |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by einsteine(m): 2:44pm On Feb 08, 2021 |
Carlyboi: 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 1 Like |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by davien(m): 2:46pm On Feb 08, 2021 |
*"This is dumb, now that legitimate Nigerians can't buy or sell through their banks isn't it going to be those Yahoo boys who have channels outside the country and the dark web who'll buy and sell or use for what they please? Now the very fear of them disrupting the economy is real"* |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Metrofox(m): 3:02pm On Feb 08, 2021 |
doxijaw: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? |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Farki: 3:08pm On Feb 08, 2021 |
doxijaw: 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. |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by BuddhaPalm(m): 3:19pm On Feb 08, 2021 |
einsteine: 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? |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by doxijaw: 3:26pm On Feb 08, 2021 |
Farki: 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. |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Nobody: 3:52pm On Feb 08, 2021 |
GindoX:Contact me, my number is on my signature. |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by einsteine(m): 4:07pm On Feb 08, 2021 |
BuddhaPalm: 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. |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by IMASTEX: 4:27pm On Feb 08, 2021 |
chukemmang: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. 1 Like |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by IMASTEX: 4:29pm On Feb 08, 2021 |
See this @ Flexherbal |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Flexherbal(m): 5:03pm On Feb 08, 2021 |
IMASTEX: You dey see your people. |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Nobody: 5:13pm On Feb 08, 2021 |
Genea:You will find the wisdom when you stop taking things literally. |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Nobody: 5:21pm On Feb 08, 2021 |
IMAliyu:Of course, how can you get the naira equivalent? |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by sharone21(f): 5:31pm On Feb 08, 2021 |
southpole: 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 1 Like |
Re: CBN: Why We Banned Cryptocurrency In Nigeria by IMAliyu(m): 9:18pm On Feb 08, 2021 |
CamusMidas:Are you asking for how to sell for Naira? Or just the simple Market value in Naira? |
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