festacman:
Cryptocurrency business is just one business out of many others in Nigeria. And there are indications from certain stakeholders that taking the Nigerian banks off cryptocurrency operation doesn't completely kill it as risky but profitable venture. Therefore if CBN has a good reason to ban it in the interest of common good, let it be for now until vital parts of BOFI Act are amended to cover its regulation.

Anyway, there is nothing wrong in affected operators shouting and kicking in pprotectionof their business interests. The same way some pastors cried and kicked over the CAMA Bill and termed it a plan to stop spread of Christianity in Nigeria. The same way medicine dealers/importers fought late Dora Akunyili over NAFDAC's effort to regulate their business and termed it an Obasanjo's plan to kill Igbo businesses. Even Oloshos will kick if you touch their business. So, cryptocurrency stakeholders has fundamental right to complain and to be heard.

What are you saying sef?

OyigboUpdate:
This cryptocurrency ban is highly supported hence it preserves our unity.
This bitcoin is used to sponsor terrorist groups like IPOB, Boko haram, bandits etc
This same bitcoin is also used for kidnapping.
We say NO to Bitcoin and yes to one Nigeria.

This guy, you're disgusting with your backward-thinking comment. Are kidnappers not collecting ransom in naira fron zamfara, katsina and federal government? They demand every medium of exchange as ransom, including USD. Your claim doesn't even underscore the benefits derived by millions of Nigerians who trade in bit coins legitimately. Many have built houses and invested in lots of business from proceeds received from bit coin trading. That's the future of global currency and not the naira your people carry inside Ghana must go bags everywhere.

You're probably one of the children of those police and those Northern almanjiri politicians who think our young guys down south who ride good cars and engage in legit online trading are yahoo boys. Nonsense

Who Doesn't know That It Was Politicaly Motivated

FBI and western complicity played a fast one on the ignorance of our CBN directors and tricked them into blocking Nigerians out of the system.....

Immidiately after Nigeria banks and other financial institution in Nigeria pulled out of the system, Elon Musk bought about $1.5b worth of Bitcoin and the price rose from 1=18,683 to 1=46,998 between Friday and the next Monday.

Ignorance kills.....!

Senators that have invested into cryptocurrencies need to cash out before is late my brother naija na for the rich

OyigboUpdate:
This cryptocurrency ban is highly supported hence it preserves our unity.
This bitcoin is used to sponsor terrorist groups like IPOB, Boko haram, bandits etc
This same bitcoin is also used for kidnapping.
We say NO to Bitcoin and yes to one Nigeria.

So you mean that before crypto came in, we haven't had criminals partaking in transactions?

Keep looking for people to summon. Nigerian politicians are a bunch of noisy empty barrels.

philip0906:
Clowns!

What does a Adetokumbo Mukhail Abiru know about cryptocurrency? A clown who's only in Abuja to eat federal money and fvck yoruba actresses...

Nitwits forming activity.

a former Banker does not know about cryptocurrency? hmmmm! all these people talking anyhow.

What a shame, other Africa countries are embracing Crypto, Nigeria Government are prohibiting it, lack of foresight due to incompetence leaders. Though it an opportunity for it to spread more.....

The banning of cryptocurrency dealings through banks by our CBN is a stepping stone for us in pi network, a blessing in disguise.
Wanna know how?
Yes..! It is true that Nekamoto Satoshi introduced a peer to peer payment system without the indulgence of the government but did he actually achieve it?
It is true he conceived the idea of a decentralised payment system but how come this banning is affecting us so much? Did he attain his supposed dream? Should what happened to we Nigerians and Indians happen to every country of the world, then sadly, the quest for cryptocurrency will gradually die. Yes. If we remember what Warren Buffet said about cryptocurrency.. That cryptocurrency has no value because it cannot buy anything except you selling it to another and another selling it to another.

Now tell me how many shops openly accept cryptocurrency? How many shops accept tron, ethereum, stellar, ripples? If not for exchanges, how do you think we would have succeeded even before this ban? Since we know that it is a fearful thing to involve in peer to peer buying and selling of cryptocurrency. What if they flee with our money after paying for the coin or what if they flee with our coin after transferring them the money? Unfortunately, we have gone back to the era that before you buy or sell crypto, you must look for a trustworthy buyer or seller who transfers you the money or coin since we can't withdraw or buy directly to and fro our debit and credit cards..

Pay attention..

Pi network is the only hope. It is now glaring that Dr. Nicolas is the actual innovator of modern day monetary system by creating an ecosystem where you don't need to convert your pi money to fiat currency before spending it which supersedes the model of Nekamoto Satoshi. Right here in pi network, we won't be needing exchanges to convert pi money. We can directly buy almost everything with our pi coin. This is why the core team is fighting tooth and nail for the creation of utilities all over the world.
This is also why mining didn't end at 10million engaged pioneers. This is also the reason we need billions of people in pi network because pi network will be a global crypto that won't derive its value only when you sell to another but you will use it to buy from almost every malls. Don't forget, we are trying to change the narrative of money. The government can't stop the people. They only had the power now because we are still attracted to their centralized fiat but now that medium has been blocked, the only way is PI NETWORK.

HOW?
The only reason we need money or raw cash is to be able to purchase our needs right?
Tell me what will happen when crypto dealers can't change their money to Fiat currency because of the ban but they can change it to pi because pi can buy almost everything? Let's be critical.. Bitcoin and other cryptocurrency may fall because they will be dumping it for pi coin that can buy anything and anywhere. More utilities and ecology will be created because many traders would want to own pi money by selling off their goods. This is another reason pi should continue mining because the coins we have right now won't be enough for everyone especially for people like me that wants to use just 30% of my total earnings and keep the rest for my generation as inheritance. �

Have you ever thought of this...?
Imagine if pi halves and halves to zero, imagine if 50 million people join pi network, they won't be able to mine up to a thousand pi coin. This will force many to buy. Now, imagine the scarcity of pi when 50million people are buying from 12M pioneers... Imagine the rush... Imagine when all the apps like all the apps you use and spend money in will be made available in pi network where you spend only pi?

For this reason, let's thank Dr. Nicolas and the hardworking core team for this insight and also thank our government for digging the early grave of Naira. Just sadly enough that pi network is not yet launched, we would have experience the massive influx of crypto dealers because Nigeria is the largest cryptocurrency market in Africa.

Fret not. Always think positive.
Happy Mining

Gondonu:
Bitcoin-the only means people employed to make a living despite its constricting economic policies, they went to block it again.

YES O !

SOME OF US TRADE BITCOIN AND USE IT TO EARN A LIVING.

HOUSEWIVES TRADE FROM THEIR BEDROOM AND HAD EXTRA MONEY TO THE MONTHLY FAMILY INCOME.

NOW PRESIDENT BUHARI AND EMEFIELE ARE GANGING UP TO TAKE FOOD FROM THE MOUTH OF STRUGGLING NIGERIANs.

e No Go Better for them !

Holy Ghost Fire !

Misterone:
a former Banker does not know about cryptocurrency? hmmmm! all these people talking anyhow.

And the CBN governor who was a former Zenith bank exec who banned crypto?

Gondonu:
Bitcoin-the only means people employed to make a living despite its constricting economic policies, they went to block it again.

No need to wail. There's a way around it. When this ban, something told me Nigeria wants to go the American way.

OyigboUpdate:
This cryptocurrency ban is highly supported hence it preserves our unity.
This bitcoin is used to sponsor terrorist groups like IPOB, Boko haram, bandits etc
This same bitcoin is also used for kidnapping.
We say NO to Bitcoin and yes to one Nigeria.

Was the $2.2billion (N924,000,000,000) share by Dasuki done with Cryptocurrency? Was the unending looted fund by Gen.Abacha and cronies in Cryptocurrency.
How many IPOB, BH & Bandits you know collected cryptocurrency?

Crime is a crime, if cowries was available as a means of exchange, they would collect.

Same way people tagged social media bad, now all platforms include religious house, ride on it existence. APC even ride on it to secure popularity, when they were looking for power.

Tell me if you had seen anything good that can not kill. Car, water, electricity, food, medicine etc

It is how you train yourself to use it that matters.

ChocolateWine:
Naija na cruise I beg.....all of these staged against the Saturday protest.

Must you appear on every Thread

OyigboUpdate:
This cryptocurrency ban is highly supported hence it preserves our unity.
This bitcoin is used to sponsor terrorist groups like IPOB, Boko haram, bandits etc
This same bitcoin is also used for kidnapping.
We say NO to Bitcoin and yes to one Nigeria.

All bank transaction should be closed because it is use for illegal transaction. Think before you talk.

Exercise in futility.

[quote author=OyigboUpdate post=98967033]This cryptocurrency ban is highly supported hence it preserves our unity.
This bitcoin is used to sponsor terrorist groups like IPOB, Boko haram, bandits etc
This same bitcoin is also used for kidnapping.
We say NO to Bitcoin and yes to one Nigeria.

As if the naira Or the dollar have not been used to sponsor terrorist or pay kidnappers, so have we banned the naira or the dollar?

They are blocking Senators' avenue for money laundering.

OyigboUpdate:
This cryptocurrency ban is highly supported hence it preserves our unity.
This bitcoin is used to sponsor terrorist groups like IPOB, Boko haram, bandits etc
This same bitcoin is also used for kidnapping.
We say NO to Bitcoin and yes to one Nigeria.

Kidnappers have collected Naira in cash have they banned Naira?

twosquare:
They are blocking Senators' avenue for money laundering.

Senators launder money in dollars nothing to look for

OyigboUpdate:
This cryptocurrency ban is highly supported hence it preserves our unity.
This bitcoin is used to sponsor terrorist groups like IPOB, Boko haram, bandits etc
This same bitcoin is also used for kidnapping.
We say NO to Bitcoin and yes to one Nigeria.

We should also ban the Naira or the dollar currency since it is also been used to sponsor terrorists or pay kidnappers.

Nothing will happen from this meeting

Subzero047:


Senators launder money in dollars nothing to look for

Easy access my bro, easy access...a dollar card is enough.

Priscillacutiee:
They have to I swear this ban don Bleep up val for me and my bobo

Abegi commot for road make person pass jhor

OyigboUpdate:
This cryptocurrency ban is highly supported hence it preserves our unity.
This bitcoin is used to sponsor terrorist groups like IPOB, Boko haram, bandits etc
This same bitcoin is also used for kidnapping.
We say NO to Bitcoin and yes to one Nigeria.

Going by this ridiculous argument, we should ban the Naira?

OyigboUpdate:
This cryptocurrency ban is highly supported hence it preserves our unity.
This bitcoin is used to sponsor terrorist groups like IPOB, Boko haram, bandits etc
This same bitcoin is also used for kidnapping.
We say NO to Bitcoin and yes to one Nigeria.

Everyone knows you have issues

Misterone:
a former Banker does not know about cryptocurrency? hmmmm! all these people talking anyhow.

Well, not all Professionals know every aspect of their profession, irrespective of their oratory.

This is why I don't think it is wise for someone to stick to the opinion or service of just one financial advisor.

OyigboUpdate:
This cryptocurrency ban is highly supported hence it preserves our unity.
This bitcoin is used to sponsor terrorist groups like IPOB, Boko haram, bandits etc
This same bitcoin is also used for kidnapping.
We say NO to Bitcoin and yes to one Nigeria.

US dollars have been used for several decades now to carry out terrorism, fraud and all sort of financial based crimes.
How come US dollars hasn't been banned

Nothing is good or evil; only the users of the media in question should own up to their misplaced morality.
Legit businesses and individuals use bitcoin to make money, should they pay the price for a few criminals?
Always use your brain before you talk!

Are they Illiterates in the senate ? Buhari is the problem but the CBN had to act

MrRichmond:


US dollars have been used for several decades now to carry out terrorism, fraud and all sort of financial based crimes.
How come US dollars hasn't been banned

Nothing is good or evil; only the users of the media in question should own up to their misplaced morality.
Legit businesses and individuals use bitcoin to make money, should they pay the price for a few criminals?
Always use your brain before you talk!

I quite agree with this argument. CBN should review and regulate quickly.

Do know that most of senators owned bitcoin ( crypto)