Tonytonex:
How? 2 million bitcoins for 1 person?

the guy that created the whole thing has 1 million Bitcoins

The currency is very vulnerable, if someone decides to start selling of their coins and they flood the market with coins, what will happen then? If the price crashes, what happens to small investors? No government will bail out anybody that played Russian roulette with their money on a global ponzi scheme

Theoutsider:


Bitcoin is not a PONZI scheme.. damn you are dumb.
See when you keep talking it exposes how dumb you are! Its decentralized you dope.

decentralized is blockchain, I don't have a problem with blockchain, it's a beautiful idea but Bitcoin as a currency is a ponzi scheme


I don't understand why you are calling me dumb, it's not my fault that you can't understand something you claim to understand

essay007:

He's right. The world is moving away from fiat to crypto. There are crypto ATMs in Europe and the US/Canada where u can fund ur cards with crypto and use it to trade/pay.
Many online stores also accept bitcoin payment.

Admittedly in Africa it's still in the nascent stage. 15 years from now crypto will be the main trading medium and there ain't nothing the cbn can do about it.

how can bitcoin become the currency of the world?

do you know how much is in circulation in the world? if 1 million bitcoins is worth 37 billion $

21 million bitcoins is the total that will ever exist, that cant even service california alone talkless of the entire world, its blockchain technology that the world likes not bitcoin

essay007:

How come you only look at the "negative" side of it.
Fiat like the Naira also plummets or gains, do you hold the government responsible?

BTC, BNB, ETH and other alts have gained immensely since inception and will only get better.
Imagine if u had 2 BTC 5yrs ago and you hodl, would u be saying all this?
Contrast that to having 18 million in the bank from 5yrs ago, now it's value would have only diminished as the Naira has "plummeted" since bubu took power.

[img]https://media./images/29eb45b8a3f29b524562476186ad1bc0/tenor.gif[/img]

doesnt change the fact that its a long game ponzi scheme, criminals use it to move cash, speculators use it to take advantage of new investors, someone with 2 million bitcoins for sale will crash the entire system in less than 5hrs

men are marrying old girls with money

its the new trend

essay007:

That is one of the best thing crypto has given to people. The freedom to be in control of ur money. It is decentralized. No government or banks has to be in charge but you who's the owner.
Please read up on cryptocurency

someone called it a company that its traded like stocks hence the question


decentralized meaning nobody will be held responsible if its value plummets and people lose all their savings

pastor why you no call God for this kind matter?

if government comes after you, you will say you are above the government and only answerable to God but if individual offend you, you will remember that you are a citizen with rights and use your wealth to oppress the person

is the man stupid, why is he confronting her? go and do the text discreetly

una too mumu for nigeria

CooldudeX1:
Bitcoin isn't guaranteed by anyone and yet billionaires like Elon Musk and Robert Kiyosaki are endorsing. Maybe you know better than the global market capitalisation.

elon musk shld move all his wealth into bitcoin if he truly believes that its the future

adonainana:


The supply of bitcoin is fixed youngman, what this means is once all that has been in supply has been bought, you can only buy it from someone who has it. People put thier money in bitcoin because the other world global fiat currencies such as dollars etc won’t be able to cope with what has been happening recently due to the pandemic etc

You can wake up anyday and print more dollars and flood the whole system with more dollars, you can’t with bitcoin, bitcoin supply is finite meaning it has an upper edge over dollars and other fiat currencies

supply of bitcoin being fixed means nothing, it will only inflate the value further

bitcoin is also fiat, what is the intrinsic value of bitcoin?

Theoutsider:


Unless you understand bitcoin.. do not make an argument. Bitcoin follows the same lines of the Nasdaq so is the Nasdaq a bubble? If so, whats your point?

[img]https://media./images/e2b95c1a019c484771439c867f0047e2/tenor.gif[/img]

Rubbiish:

Where is the headquarters of gold located?
Who is the head of gold?

U are nothing but a senseless f00l!
Don't quote me again please!

gold has intrinsic value


Bitcoin doesn't

Gold doesn't need to have a company behind it


All your insults are meant for you, go and read about Bitcoin, how it's mined, it's origin and why it's valuable

adonainana:


This is the poor Nigerian version of explaining the volatility of cryptocurrencies. The supply of cyortocurriences are fixed meaning they don’t need YOU or anybody to buy and they don’t need YOU or anybody to sell

Whenever you buy any crypto currency it’s value can go hope and go down just like when you are buying shares on the Nigerian stock exchange, Dangite cement shares can rise and fall anytime.

This is not because they need new investors and old investors are cashing out, whether you buy any Cryptocurrency or not

Also buying and selling crypto currencies is not the only reason people use cyotocurrneixes some use it for international transactions, its like a currency with no borders.

If cyotocurrencies was a Ponzi scheme, have you ever seen a Ponzi scheme being used to pay people school fees and import cars etc

they aren't fixed, demand and supply is what determines the price of Bitcoin, people panicked that the global economy will crash and invested in Bitcoin to counteract the effect, that's why the price sky rocketed last year

Uniique:


Ah.. Bros Your I.Q low sha

your own high

Rubbiish:

For u to say bitcoin is not a company & doesn't have an office, obviously shows your level of ignorance which clearly bespeaks u know nothing about blockchain technology. The world is clamouring for decentralization of all sector including social media, u are typing nonsense!

where is the headquarters located at?



Who is the head of the organization?

Rubbiish:

Shut up & stop exhibiting your ignorance if u know nothing about blockchain technology!
Bitcoin is bigger than a country, it is creating companies all over the globe, employing people all over the world. Do u know the number of people bitcoin has laid off the labour market all over the world? Stop typing nonsense please!

calling me ignorant meanwhile you are the one that is ignorant


Nigeria my country

Daum:


What is Money?
How is Bitcoin different from the money in your Bank. Its just numbers you have as money. It's not physical hope you understand. They can't print everyone money if not you have inflation.

Bitcoin is better than your Niara because it grows. Your Naira is trash...

money is a legal tender that is guaranteed by a government

Bitcoin isn't guaranteed by anyone, if everybody using it decide to pull out, it will crash to zero cause bulk of it's current value is inflated

CooldudeX1:
Ignorance at it peak. You don't know jack about cryptocurrency. If cryptocurrency is a Ponzi scheme like mmm, it means buying of company stocks and shares is also a Ponzi scheme.

Bitcoin is a company

Do you know their office

Rubbiish:

Crypto and mmm are two opposite things!
Something that has been constantly appreciating since 2009 till date like a plot of land is what u compare to mmm? Yahoo boys have been using western union since way back till date, why didn't any of u come out to clamour for the ban of western union? Crypto started in 2009, and started gaining recognition around 2016, na 2009 criminal activities start?

We know those of u who were unlucky to go into the crypto before the increase are the ones masturbating on all thread, shouting crypto ban! It is typical of the Blackman, it is a case of envy!

they are the same, the money you make from Bitcoin is someone else investment in Bitcoin

Bitcoin is not a company, it doesn't have offices, it doesn't make or generate revenue, if more people buy it, it becomes more profitable for the previous investor, it's a gigantic ponzi scheme

definitelyCYRIL:
bros if we wail, it is our wail.... The way you're talking it's like you are one of those guys that can't afford to buy cryptocurrency and is envious of those that can, and are making it, so you just want the system to crash... You better go and borrow money and start moving forward... Nonsense..

people said worst to me when I called mmm a ponzi scheme

What is Bitcoin? Can you hold it? Does it have an intrinsic value?


If everybody decides to pull their money, who guarantees the payouts?

At least currency is a legal tender, bitcoin is dependent on people's believe and fomo


Last last una go wail, the only thing special about cryptocurrency is blockchain

Rubbiish:

@bold is a clear case of envy
So many Nigerians not lucky enough to benefit from the recent increase in crypto are not really happy with those that have been blessed by crypto. It is just the mind of an average black man.

mmm users said the same thing

definitelyCYRIL:
please if I may ask you Mr man, how is it only beneficial to only criminal elements and speculators Do you know how many people cryptocurrency has brought out of poverty? Please stop talking thrash... To be honest, any person supporting this ban is an enemy of development and one of the problems of this country

what does speculators mean is it not speculators that cryptocurrency brought out of poverty? How does cryptocurrency benefit the society at large, you don't understand monetary policy and last last like mmm, which cryptocurrency is, una go wail

madukaanaya:
my guy explain this crypto currency for me in a laymans language and how can i make money from it.

na ponzi scheme, mmm 2.0

You buy and hope it rises, if more people buy you make money, if everybody wants to sell it will crash, the more people buying the higher it rises, if everybody wan remove their money plenty people will commit suicide


Like mmm but international mmm

wwwtortoise:
The Nigerian government is anti-people.
Whatever benefits the populace give them sleepless night.

Crypto is here to stay as no policy can stop this technology. China tried to control it but failed.

how is cryptocurrency beneficial to nigerians at large?

Missyajoke:
If it's going to boost the economy its a welcome idea

it's not going to, government can't tax it and it doesn't provide any benefit to the society, it's only criminal elements and speculators that it is beneficial to.

Goodman247:
The exchangers should take CBN to court

on what grounds?

Cryptocurrency na mmm 2.0

Reputation ruined forever

Appeal wouldn't change it

They kept asking tuchel about mason mount back to back


The way british press behaves


https://www.youtube.com/watch?v=jauutRxowVY

Stay at home