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CBN: Why We Banned Cryptocurrency In Nigeria - Business (8) - Nairaland

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Re: CBN: Why We Banned Cryptocurrency In Nigeria by Nobody: 9:43pm On Feb 08, 2021
IMAliyu:

Are you asking for how to sell for Naira?

Or just the simple Market value in Naira?
How to sell for naira.
Re: CBN: Why We Banned Cryptocurrency In Nigeria by IMAliyu(m): 10:55pm On Feb 08, 2021
CamusMidas:

How to sell for naira.
The process can be a little confusing.
But I'd use Binance P2P.

https://www.youtube.com/watch?v=1T2mR0wRWtk

You either sell your crypto to someone for bank transfer.

Or you post an ad and wait for someone to buy from you.
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Nobody: 10:17am On Feb 09, 2021
IMAliyu:

The process can be a little confusing.
But I'd use Binance P2P.

https://www.youtube.com/watch?v=1T2mR0wRWtk

You either sell your crypto to someone for bank transfer.

Or you post an ad and wait for someone to buy from you.
I will watch the video, but your explanation makes sense.

The same process can be done for the funding right?
Re: CBN: Why We Banned Cryptocurrency In Nigeria by IMAliyu(m): 5:38pm On Feb 09, 2021
CamusMidas:

I will watch the video, but your explanation makes sense.

The same process can be done for the funding right?
Yes.
Re: CBN: Why We Banned Cryptocurrency In Nigeria by happYFingers(m): 9:46pm On Feb 10, 2021
COWRIES from CowEconomy to the rescue...!
The only legal business under this administration is cowherding n banditry.

It shall never be well with all of you who reinforced this govt of cow herders upon the rest of us.

An administration that sets records of incompetence on weekly basis.

TUEH !

B4 God judges me at the last day, I must demand to know what exactly I did wrong to the angel that made me a naija man !

What a con3 !

Re: CBN: Why We Banned Cryptocurrency In Nigeria by Nobody: 9:14pm On Feb 11, 2021
rawfact:
[s]CBN, I am grateful for this enlightenment o. Gracias. Now, I know better and can invest more wisely. Atiku, over to you.[/s]

Hello CBN,

I've finally come to the conclusion that Bitcoin (most-reliable crypto currency) has come to stay, so ain't flinching no more.

Let me worry on how to deal with its volatility while you go worry on how to make the naira valuable and also prevent fraudsters, kidnappers and other criminals from transacting Bitcoin with the Naira or any Nigerian Bank.

So, review and regulate quickly.

Over and Out! smiley
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Karles(m): 10:25am On Feb 13, 2021
I have been reading the posts on this thread on the banning of cryptocurrencies by the government and have been wondering and asking myself why people make the comments they make on the subject of cryptocurrencies someone even mentioned that bitcoin was a Ponzi scheme and I am utterly shocked about this statement.

Now, Blockchain technology has been there for a while even before bitcoin but it was Satoshi Nakamoto, hope I got the name right, that brought it into the limelight by improving it. He began work on it by 2007 but by the time the global financial crisis hit he went from conducting an experiment to building a whole new technology that was intent on disrupting the corruption of governments worldwide. He needed a decentralized system, more like a peer to peer thing that could force accountability of governments. Have you ever wondered why it is hard to fight content piracy? Simple. Torrents. A peer to peer technology that shares content worldwide. Bringing down a few servers won't stop torrent because its a peer to peer thing. I some, you have some content, they have some content then you bring together to form a whole new file. This is the same system that bitcoin is using. A peer to peer system consisting of miners, wallets sometimes miners that also serve as wallets.

The government is talking about anonymity but have people have thought that bitcoin can force governments into accountability. Have you? It's true. If the government claims to have spent money on so and so. How can we trust them? Is what they are saying true? Did you that in addition to being encrypted, bitcoin is also an open ledger system? Instead of telling how much is the federal reserve, they can show a crypto address and we will see if they are honest or not? Did you know? If blockchain technology is used the way it is meant to be used governors' corruption would be so reduced. They should stop talking about criminals using it to finance crime.

If you don't know anything about Bitcoin. Read up https://bitcoin.org/en/. I had to add it for people who call it a wink Ponzi scheme. If after reading you want to own a mobile or laptop wallet that has no need for Bank Verification, ID verification and you want to experiment by holding a few tiny bitcoin just download https://wallet.bitcoin.com. You can hold up to 100 BTC if you can and nobody will know if you do your due diligence. If you own a website or an online store on Wix, Shopify, WHMCS, WordPress, woo-commerce you can connect your bitcoin address on your wallet to this website http:///3rGKBWH also with no verification whatsoever. You pay only 1 percent per transaction and it is you that must ensure that you pay it or the payment process would stop. They don't collect your money by force.

Guys, bitcoin is an interesting payment system, it will force corrupt governments to wake up. The government is only angry that they can't tax you on crypto. As a matter of fact, their drivers might even be millionaires without their knowing it. Just pray to keep your coins and don't get hacked. That's all.

1 Like

Re: CBN: Why We Banned Cryptocurrency In Nigeria by AlphaSoul: 5:03am On Feb 19, 2021
Re: CBN: Why We Banned Cryptocurrency In Nigeria by AlphaSoul: 5:10am On Feb 19, 2021
Karles:
I have been reading the posts on this thread on the banning of cryptocurrencies by the government and have been wondering and asking myself why people make the comments they make on the subject of cryptocurrencies someone even mentioned that bitcoin was a Ponzi scheme and I am utterly shocked about this statement.

Now, Blockchain technology has been there for a while even before bitcoin but it was Satoshi Nakamoto, hope I got the name right, that brought it into the limelight by improving it. He began work on it by 2007 but by the time the global financial crisis hit he went from conducting an experiment to building a whole new technology that was intent on disrupting the corruption of governments worldwide. He needed a decentralized system, more like a peer to peer thing that could force accountability of governments. Have you ever wondered why it is hard to fight content piracy? Simple. Torrents. A peer to peer technology that shares content worldwide. Bringing down a few servers won't stop torrent because its a peer to peer thing. I some, you have some content, they have some content then you bring together to form a whole new file. This is the same system that bitcoin is using. A peer to peer system consisting of miners, wallets sometimes miners that also serve as wallets.

The government is talking about anonymity but have people have thought that bitcoin can force governments into accountability. Have you? It's true. If the government claims to have spent money on so and so. How can we trust them? Is what they are saying true? Did you that in addition to being encrypted, bitcoin is also an open ledger system? Instead of telling how much is the federal reserve, they can show a crypto address and we will see if they are honest or not? Did you know? If blockchain technology is used the way it is meant to be used governors' corruption would be so reduced. They should stop talking about criminals using it to finance crime.

If you don't know anything about Bitcoin. Read up https://bitcoin.org/en/. I had to add it for people who call it a wink Ponzi scheme. If after reading you want to own a mobile or laptop wallet that has no need for Bank Verification, ID verification and you want to experiment by holding a few tiny bitcoin just download https://wallet.bitcoin.com. You can hold up to 100 BTC if you can and nobody will know if you do your due diligence. If you own a website or an online store on Wix, Shopify, WHMCS, WordPress, woo-commerce you can connect your bitcoin address on your wallet to this website http:///3rGKBWH also with no verification whatsoever. You pay only 1 percent per transaction and it is you that must ensure that you pay it or the payment process would stop. They don't collect your money by force.

Guys, bitcoin is an interesting payment system, it will force corrupt governments to wake up. The government is only angry that they can't tax you on crypto. As a matter of fact, their drivers might even be millionaires without their knowing it. Just pray to keep your coins and don't get hacked. That's all.

Re: CBN: Why We Banned Cryptocurrency In Nigeria by LauraClasikVibe(f): 7:06pm On Apr 05, 2021
sharone21:


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
The main problem is when you don't have the right information. I have and still making money in beatcoyn. We have training on Saturday come learn the rudiments.

As regards stocl, Bamboo charges are high in my own opinion but whatever rocks your boat.

Trove is better check this link https://www.nairaland.com/6431880/stock-plays-us-stocks-market
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Hushbingo: 9:29am On Apr 09, 2021
yclick:
tongue
hello you dm me... How may i help you
Re: CBN: Why We Banned Cryptocurrency In Nigeria by yclick(m): 1:04pm On Apr 09, 2021
Hushbingo:
hello you dm me... How may i help you
I would be glad if we can talk in DM boss. Pls kindly reply to DM so i can gain access to messaging you directly.
Thanks ��
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Hushbingo: 7:01pm On Apr 09, 2021
yclick:

I would be glad if we can talk in DM boss. Pls kindly reply to DM so i can gain access to messaging you directly.
Thanks ��
I have lost that email, email me directly beneikume@gmail.com
Re: CBN: Why We Banned Cryptocurrency In Nigeria by Frank80Campbell: 4:21pm On May 27, 2021
May I join to your interesting discussion too? Anyway, I am too fond of playing in different games of chance as it gives me the chance to win some amounts of money. Also, once my best friend friend decided to tell me about this source dr.bet gamble casino where there's a good chance for everyone to try playing casino. Accordingly, just click the link and use this platform too!
Re: CBN: Why We Banned Cryptocurrency In Nigeria by AlphaSoul: 11:42am On Feb 27

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