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Dragging Crypto Trading & Bastardization Of The Word "Unpatriotic" - Politics - Nairaland

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Dragging Crypto Trading & Bastardization Of The Word "Unpatriotic" by Inteltower: 5:48pm On Apr 21
Crypto has been a game changer and disruptor in the financial space. Creating wealth, reducing drive to seek loans from banks,employment opportunities and spurring diverse innovations. And being knowledgeable about this innovation I can only laugh at the ones either grossly ignorant or jealous

The drama or blame game between our weakening Naira and trading on CEX (centralized exchanges) have been in the news lately and opposers or should I say the so called patriots keep exposing how daft they are in the general analysis of why our Naira is where it is today.

Your president floated the naira, you have a weak foreign reserve and still grossly a consuming nation. what then do you think would be happening on the exchange rate...

Speculation...
FYI trading of FOREX is all about speculation that's based on the fundamentals (what we have today in this country) and future forecast on what could be.
Some months back JAPA was rattling all over what do you think was happening at the exchange rate High demand of $$$ Which your CBN couldn't handle thus, people turning to the black market

Binance was a preferred destination for speculators of naira because we have moved digitally and people are having preference trading online. Then there is USDT which was used. The US gave that currency a pass to further dominate financially on a global scale but CBN isn't capitalizing on the use of USDT or USDC. I don't want to digress

Yes there are some greedy lots that speculate the downfall of the naira & prefer the dollars for their own pockets but then I ask what is the primary purpose of trading FX exchange
Isn't it for profit ?, it's just a business man capitalizing on the opportunity the clueless govt gave them?

The weakness of the Naira doesn't reflect the activities of speculators but rather the general wellness of our economy. And is Nigeria to you economically sound

Talk of being Patriotic

Unpatriotism that sabotaged this economy is historical and STARTED WITH THE GOVERNMENT/NIGERIAN LEADERS.
The government/leaders who were busy fighting for who gets the lion share or dominating others or planning with other regions to fight other regions instead of jointly coming together to develop the country, these leaders that kept carrying out coups, some past military heads that loot billions of dollars to other countries that they used to develop their economy while today our youths are doing JAPA because of the greener pastures our so called leaders took over there instead keeping it in their country EVEN IF THEY WERE STEALING IT. these same leaders of today once elected they go on series of tours abroad, leaders who don't want to drastically reduce the cost of running the government, these leaders that obey like dogs anything IMF or world bank tells them, these same leaders who once they enter office they make deals with corporations on what they will get annually for themselves and their family (Obasanjo, MTN, Lt Awolo, Coca-cola)



And you glance Above in all these things and some daft people are calling speculators unpatriotic

Why should we blame speculators/crypto traders, Local/retail traders, Importers, BDC, youths/doctors that JAPA as unpatriotic
When this systematic disease could be traced to our leadership

That's why I shake my head sometimes asking is this really the type of people I live in the same country with. People that can't vote right, people that succumb easily to televised/news propaganda by the government/religion deflecting the blame from themselves

In conclusion
For the so called patriots looking for next exchange to blame.
Note in the world of cryptocurrency there are CEX and DEX...there are over 100 CEX & a thousand DEX. Let me see how your clueless government will stop P2P trading of the dollar against the naira.
Go after Bybit & Bitget or okex...it can only lead to migration to others.
If you think u would solve this problem by trying to shut CEX/crypto down then go and ask China why it's still struggling to curtail crypto users and why US has embraced what they are finding hard to control.
You are trying to catch air.

And some of you are shouting go after them lol, how many of them do you see their office here in Nigeria; failing to understand that the world is a global village, your govt successfully kidnapped binance employees and charged them for something you should be charging against the CEO or it's founder the way US did theirs. How do you intend to invite those other CEX representatives to have a discussion on how to bring them and their liquidity inti the country

Abeg....
When a person (Govt) intially starts a fire in the forest does he go about chasing those using the fire he started to roast meat or does he go and quench the fire with water or galvanize those enjoying the roasted the meat to help him

You can't suffer people and expect them to be patriotic when you keep playing politics with their lives. The nonsense Emefiele did with seizing people's hard earned money comes to mind all for what ?

Am done
Re: Dragging Crypto Trading & Bastardization Of The Word "Unpatriotic" by Anyiamaka: 6:50pm On Apr 21
Inteltower:
Crypto has been a game changer and disruptor in the financial space. Creating wealth, reducing drive to seek loans from banks,employment opportunities and spurring diverse innovations. And being knowledgeable about this innovation I can only laugh at the ones either grossly ignorant or jealous

The drama or blame game between our weakening Naira and trading on CEX (centralized exchanges) have been in the news lately and opposers or should I say the so called patriots keep exposing how daft they are in the general analysis of why our Naira is where it is today.

Your president floated the naira, you have a weak foreign reserve and still grossly a consuming nation. what then do you think would be happening on the exchange rate...

Speculation...
FYI trading of FOREX is all about speculation that's based on the fundamentals (what we have today in this country) and future forecast on what could be.
Some months back JAPA was rattling all over what do you think was happening at the exchange rate High demand of $$$ Which your CBN couldn't handle thus, people turning to the black market

Binance was a preferred destination for speculators of naira because we have moved digitally and people are having preference trading online. Then there is USDT which was used. The US gave that currency a pass to further dominate financially on a global scale but CBN isn't capitalizing on the use of USDT or USDC. I don't want to digress

Yes there are some greedy lots that speculate the downfall of the naira & prefer the dollars for their own pockets but then I ask what is the primary purpose of trading FX exchange
Isn't it for profit ?, it's just a business man capitalizing on the opportunity the clueless govt gave them?

The weakness of the Naira doesn't reflect the activities of speculators but rather the general wellness of our economy. And is Nigeria to you economically sound

Talk of being Patriotic

Unpatriotism that sabotaged this economy is historical and STARTED WITH THE GOVERNMENT/NIGERIAN LEADERS.
The government/leaders who were busy fighting for who gets the lion share or dominating others or planning with other regions to fight other regions instead of jointly coming together to develop the country, these leaders that kept carrying out coups, some past military heads that loot billions of dollars to other countries that they used to develop their economy while today our youths are doing JAPA because of the greener pastures our so called leaders took over there instead keeping it in their country EVEN IF THEY WERE STEALING IT. these same leaders of today once elected they go on series of tours abroad, leaders who don't want to drastically reduce the cost of running the government, these leaders that obey like dogs anything IMF or world bank tells them, these same leaders who once they enter office they make deals with corporations on what they will get annually for themselves and their family (Obasanjo, MTN, Lt Awolo, Coca-cola)



And you glance Above in all these things and some daft people are calling speculators unpatriotic

Why should we blame speculators/crypto traders, Local/retail traders, Importers, BDC, youths/doctors that JAPA as unpatriotic
When this systematic disease could be traced to our leadership

That's why I shake my head sometimes asking is this really the type of people I live in the same country with. People that can't vote right, people that succumb easily to televised/news propaganda by the government/religion deflecting the blame from themselves

In conclusion
For the so called patriots looking for next exchange to blame.
Note in the world of cryptocurrency there are CEX and DEX...there are over 100 CEX & a thousand DEX. Let me see how your clueless government will stop P2P trading of the dollar against the naira.
Go after Bybit & Bitget or okex...it can only lead to migration to others.
If you think u would solve this problem by trying to shut CEX/crypto down then go and ask China why it's still struggling to curtail crypto users and why US has embraced what they are finding hard to control.
You are trying to catch air.

And some of you are shouting go after them lol, how many of them do you see their office here in Nigeria; failing to understand that the world is a global village, your govt successfully kidnapped binance employees and charged them for something you should be charging against the CEO or it's founder the way US did theirs. How do you intend to invite those other CEX representatives to have a discussion on how to bring them and their liquidity inti the country

Abeg....
When a person (Govt) intially starts a fire in the forest does he go about chasing those using the fire he started to roast meat or does he go and quench the fire with water or galvanize those enjoying the roasted the meat to help him

You can't suffer people and expect them to be patriotic when you keep playing politics with their lives. The nonsense Emefiele did with seizing people's hard earned money comes to mind all for what ?

Am done


You are a prove that we will always have very reasonable people in this country.

They con continue fooling themselves with agbado, ewa, cassava.

Campaign talks are cheap.

Good governance cannot be provided by the unserious weak, old, super corrupt drug barons who only understand how to snatch power and run with it.

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