₦airaland Forum

gaby:
Clutching at straws...

Make dem go block VPNs na

Dull, brainless people in power.

They banned binance

They think they are wise

How many centralised crypto exchanges are Nigerians registered on?

How many decentralised crypto exchanges can they track?

This one na trying to catch wind

[quote author=TruthsFM post=128578799]they are very daft seriously [/quote
You can't access Binance with vpn from Nigeria. Your account will be ban]

Are cold wallets like Trust Wallet affected by this?

StOla:
Many like you actually do not want a solution.

You just yap day and night hungry for more economic downfall.

and to your warped mentality this is the solution?

azpekuliar:
You are a big phoooool!

but when it is time for party primaries they will share dollars at will to buy votes. During the APC primaries last year the Naira depreciated by over 25% in that very week of the primaries. It did not lead to economic downfall then. You were cheering on the dollar jamboree then.

Cry as much as you like.

The government does not owe any wicked Nigerian anything.

I expect the Government to start giving N1 for every $1 that is in any domiciliary account that did not get credited by foreign remittance.

lalabrother:
VPN to the rescue

The existence of VPN does not vitiate the government 's right to ban crypto trading. And VPN alone may not solve traders problem as someone mentioned that Binance has stopped selling of naira or something to that effect. If that's true, it means VPN or no VPN, you can't trade naira on Binance. Of course there other lesser known trading options.

A ban will also mean more and more of the trading will be pushed underground. Many of those currently trading will likely pull out as more and more obstacles are put in their way. Some will simply take the view it is too much trouble.

That said, I agree banning will not stop trading 100%, and I am sure the government knows that.

If banning results in 40 - 50% reduction in trading, the government will consider that a win.

gaby:
Clutching at straws...

Make dem go block VPNs na

Dull, brainless people in power.

You will be surprised to know that VPNs can be detected and blocked

tensazangetsu20:
I don't want to sound tribalistic but is the best the westerners can offer to Nigerians. This is the first time in Nigeria's history, that everything is owned by people from the west and everything is sinking rapidly.

The problem is not that the west controls the govt. The problem is the caliber of westerners in power.

Ebubu2:
VPN to the rescue.

Idiots

Politicians and CBN staff are all hoarding millions of Dollar hard notes in their homes and vaults, you’re chasing broke bois.

Change begins with you

VPNs can be blocked fam

DeLaRue:
The government doesn't need yours or my permission to ban crypto.

If they consider it part of the sources fueling undue speculation, they have the power to ban it.

Please loud it for the economic terrorists who think everything that makes them richer at the expense of the country is their birth right.

Appletek:
USDT rate on Binance is now 1,613 from 1,863 less than 40 mins ago.

Binance rate simply follows black market rate. There has been clampdowns on BDCs nationwide since morning, that’s why the rate is crashing but it’s just a temporary measure. Ban BDCs and peg the exchange rate to a reasonable rate and watch it stabilise.

MrPADDY:
But VPN, RDP, Socks5 and co are still available.

All blockable

StOla:
Cry as much as you like.

The government does not owe any wicked Nigerian anything.

I expect the Government to start giving N1 for every $1 that is in any domiciliary account that did not get credited by foreign remittance.

You are the one crying about domiciliary accounts. No government can stop me from trading crypto if I want. You are welcome to try and confisticate the crypto in my non-custodial wallet na.. ole!

Naira/dollar has dropped to 1500/dollar on binance amid binance ban speculation.

airsaylongcome:
VPNs can be blocked fam

block by the government? Even governments more sophisticated and authoritarian hasn’t been able to block it , e come be Nigeria? I dey laugh you. Proxies and rdps dey too.

CyberWolf:
block by the government? Even government more sophisticated and authoritarian hasn’t been able to ban it , e come be Nigeria? I dey laugh you. Proxies and rdps dey too.

Your ISP knows when you are using a VPN or RDP. There are many tell tale signs when you use it. That they haven't blocked it no mean say dem no fit block am. Try use a VPN in North Korea make your doubt clear. Or even in some middleeast countries.

Kenneth4u205:
The can only ban it in Nigeria newspaper's. I'm currently trading now

lol

Lifemanage:
I wish government de read this points here. In the interest of the country, I personally sold my dollars. If I want to save or protect my funds, better to buy assets and commodities within the country. It's so sad how Nigerians hate themselves. How do u speculate against Ur currency or country? We are not different from the wicked politicians

Nigerians are wicked and have never known patriotism all their lives.

The more reason I believe government should never subsidise anything for Nigerians besides Healthcare and elementary education.

Pay workers well and charge them well for all services too.

Let them cry that the government is useless and doing trial and error. Na so thief dey cry when police dey announce new security plans to checkmate crime.

TruthsFM:
still it won’t stop naira to decreased. Cardoso is just confused here. In Emefiele time, he never banned Binance and other crypto wallets. It’s in Cardoso time that Binance website is been banned. I will used VPN to open it and check the dollar rate on my verified Binance account. Dey play Cardoso

I heard from inside sources that Binance will seize people account ooo. Bet sell sharp sharp

airsaylongcome:
Your ISP knows when you are using a VPN or RDP. There are many tell tale signs when you use it. That they haven't blocked it no mean say dem no fit block am. Try use a VPN in North Korea make your doubt clear. Or even in some middleeast countries.

There is no internet in North Korea oga. Much-less VPN. Only high-level people in the government of Kim Jong whatever he calls himself have access to internet.

gratiaeo:
Where did Tinubu get the dollar he shared during APC primary? Anybody hoarding dollars learned it from Tinubu

Hmmmm.....thought provoking!

airsaylongcome:
Your ISP knows when you are using a VPN or RDP. There are many tell tale signs when you use it. That they haven't blocked it no mean say dem no fit block am. Try use a VPN in North Korea make your doubt clear. Or even in some middleeast countries.

That they know doesn’t mean they can block, it’s the sites you’re visiting that can block it and that’s for datacenter IP addresses. VPN works in all Middle East countries and there is no internet in North Korea. The only way to block VPN is to shutdown the internet completely.

Same people wey dey shout sey naira dey fall, na Dem still dey speculate, they are already talking about how to bypass the new ban, later Dem go come abuse everyone dey can.
Speculate from now till tomorrow, e go reach everyone. Those wey dey send fund to their children outside now sef dey cry, those wey dey send remittance to their people for home dey fear, last last, we all got served

CyberWolf:
Binance rate simply follows black market rate. There has been clampdowns on BDCs nationwide since morning, that’s why the rate is crashing but it’s just a temporary measure. Ban BDCs and peg the exchange rate to a reasonable rate and watch it stabilise.

Pegging was what happened under Buhari. That government was spending an estimated $1.5billion dollars per month to keep the naira at below N550 or thereabout to a dollar. That money was effectively subsidising the naira, so the rate we had under Buhari was artificial.

The current government met less than $4 billion dollars in the country 's reserve even though Mr Emefiele regularly reported that the country had between $32billion to $37billion in reserve.

So you can see that with $4billion, Mr Tinubu's government had no chance in hell of pumping $1.5 billion dollars per month to 'peg' the Naira's value where it was under Mr Buhari.

And we still had/have to repay Mr Buhari's debts, pay for imports etc from the paltry $4 billion.

To cut a long story short you need plenty of dollars to peg (subsidise) the naira. Nigeria is broke. It doesn't have the funds to do so.

That's the reality.

All these platforms are used in other countries and they do not affect the currencies of those countries. Politicians should check themselves.

Hoelujohn:
I heard from inside sources that Binance will seize people account ooo. Bet sell sharp sharp

they don’t have any power to do that now

StOla:
Good!

A country that does not know economic security will learn the hard way like Nigeria is doing now.

Nigeria needs to reach out and learn from countries that have mastered the art of economic control and economic security.

In Nigeria anything goes.

Some even think it is their fundamental right to save up dollars inside Nigeria.

Left to me anyone who is not getting foreign remittances into their domiciliary account, should have any dollars they have stacked up till now, converted at a rate of $1 = N1.

If you have stacked up $20,000 within Nigeria, my government will convert it to N20,000 for you.

It is obvious you have more than enough to be contributing to the economic terrorism that is going on within the country, so we will help you with a conversion tax that will make you love your own Naira.

Na now the government begin wake up that you do not show mercy to wicked Nigerians.

You are 'too' intelligent

MrPADDY:
But VPN, RDP, Socks5 and co are still available.

Anybody with a Nigerian identity will be blocked on those platforms (binance and co)

I remember wen crypto was earlier introduce way back 2008... @2010 ours boys started using it to buy goods in market places...in less than 1 month the thing skyrocketed the price of goods.... started from clothes to cars ..... I think it has a hand in this inflation we're facing

CyberWolf:
That they know doesn’t mean they can block, it’s the sites you’re visiting that can block it. VPN works in all Middle East countries and there is no internet in North Korea. The only way to block VPN is to shutdown the internet completely.

I won't not go into the details of blocking SOCKS,PTPP and other tunneling protocols. Trust me, it can be done. And easily even. Na for NCC to direct telecos to block am. And it will be done in a heart beat. I work with VPNs everyday. I mean setup and manage them. So this is a topic I'm very conversant with

DeLaRue:
Pegging was what happened under Buhari. That government was spending an estimated $1.5billion dollars per month to peg the dollar at below N550 or thereabout.

The current government met less than $4 billion dollars in the country 's reserve even though Mr Emefiele regularly reported that the country had between $32billion to $37billion in reserve.

So you can see that with $4billion, Mr Tinubu's government had no chance in he'll of pumping $1.5 billion dollars per month to 'peg' the Naira's value.

And we still had to repay Mr Buhari's debts, pay for imports etc from the paltry $4 billion.

To cut a long story shot you need plenty of dollars to peg (subsidise) the naira. Nigeria is broke. It doesn't have the funds to do so.

How are they spending 1.5 Billion dollars every month? Because they give forex to banks who in turn offload to BDCs via roundtripping. Peg it and ban BDCs, no one will have business if hoarding dollars again because it is of no use to them, thus, making dollar available in the banks for genuine international transactions.