Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,160,313 members, 7,842,929 topics. Date: Tuesday, 28 May 2024 at 03:13 PM |
Nairaland Forum / Nairaland / General / Business / CBN New Policy On Cryptocurrency: What You Should Know (79049 Views)
FG Lifts Ban On Cryptocurrency, Introduces Taxation Instead / First Bank Accepts CBN New Board As Adeduntan Resumes / CBN's New Policy On Cash Deposits: Nigerians React (2) (3) (4)
(1) (2) (3) ... (6) (7) (8) (9) (10) (11) (12) (Reply) (Go Down)
Re: CBN New Policy On Cryptocurrency: What You Should Know by Tonytonex(m): 11:27pm On Feb 05, 2021 |
iamJ:okay |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Mcslize: 11:38pm On Feb 05, 2021 |
iamJ: Why will you even think of this myopic statement? A digital currency that has use case is what u referring to as MMM? Do you know you can pay for many things with crypto? Do you know you can book a flight with crypto? Do you know you can get into real estate with crypto? Do you know you can go into agriculture with crypto? All of that are use cases which makes crypto to be a legal tender. Don't always hope on working 5-9 job. You can never be wealthy by working all your life. Crypto has turned many to multi millionaires in dollars. Why other are sleeping bad mouthing crypto and remaining in poverty, the wise ones are investing in crypto for their futures and the future of their children. Be guided. Don't say I didn't tell you. 1 Like |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Mcslize: 11:42pm On Feb 05, 2021 |
definitelyCYRIL: Don't mind the guy. He doesn't understand the word crypto let alone know how valuable it is. People like this don't dream of becoming wealthy in life. They feel, it is impossible for them to be rich and wealthy in life. iamJ I am referring to you. |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Theoutsider: 11:44pm On Feb 05, 2021 |
iamJ: The very essence that you call bitcoin a Ponzi scheme means you dont know what bitcoin is nor do you know what a ponzi scheme is. Have you ever even read the whitepaper of bitcoin? No you haven't this is where your argument falls apart and you your self is a speculator. By all accounts you are saying a stock is a ponzi by your definition. Please tell me in the bitcoin whitepaper that it promises above market returns or to recruit new investors? Show me the pyramid? There are people who push gold.. who says gold will always hold its value, what happens if it considered illegal? Diamonds are controlled and regulated to articulate the price.. So basically you proved you have no idea what you are talking about. Hold on to your Naira fool because its sinking like a rock and the banks are basically telling you our own currency has no value and stop using USD because its the only thing keeping us together. 3 Likes 1 Share |
Re: CBN New Policy On Cryptocurrency: What You Should Know by MartinsD12(m): 11:45pm On Feb 05, 2021 |
Mcslize:Well I heard much about it, how people are making money with it. |
Re: CBN New Policy On Cryptocurrency: What You Should Know by stuntman007: 11:48pm On Feb 05, 2021 |
This thing is simple. We have Zenit, access and the rest back in Ghana and other neighbouring country around. Just go open account there, do your cryoto business then fund your naija account. Na our neighboring government go benefit from taxation on the bank transactions. Mumu government. 1 Like 1 Share |
Re: CBN New Policy On Cryptocurrency: What You Should Know by bizhop01: 11:58pm On Feb 05, 2021 |
No shaking you can use foreign exchanger, convert to Neteller or paynear for withdrawal or funding. |
Re: CBN New Policy On Cryptocurrency: What You Should Know by fabulous05(m): 12:02am On Feb 06, 2021 |
Hinokami: Try and read the write up first |
Re: CBN New Policy On Cryptocurrency: What You Should Know by 12inchess: 12:04am On Feb 06, 2021 |
Simple economics. Crypto currency are valued in dollars.So essentially its increasing the demand for dollars. Which I understand from the part of CBN. But who wants shit Naira that loses value like pure water? Are they done giving dollars to Dangote at 335 or not? 7 Likes 1 Share |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Mcslize: 12:06am On Feb 06, 2021 |
iamJ: When something is fixed, it will become scarce as time goes on which will make people demand for it to rise and in return makes it to appreciate. This is not something they print like physical money. Once the amount that is pumped out during the launching period get exhausted, you can only then buy from someone that already has it. Due to this, it will become so scarce. This is the principle of crypto. It still baffles me why you refering a cashless token with a realistic use case to an MMM. Very surprising. You better secure your future by buying any useful crypto coin and hold it for long term. Don't blame yourself in later years to come by saying have I known. 1 Like 1 Share |
Re: CBN New Policy On Cryptocurrency: What You Should Know by blackbriar: 12:06am On Feb 06, 2021 |
Re: CBN New Policy On Cryptocurrency: What You Should Know by blackbriar: 12:07am On Feb 06, 2021 |
12inchess:. https://www.youtube.com/watch?v=g6iDZspbRMg |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Mcslize: 12:16am On Feb 06, 2021 |
iamJ: That's what makes it to be a scarce commodity young man. Because inflation can never affect it unlike physical money that they print here and there. 1 Like |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Jones4190(m): 12:17am On Feb 06, 2021 |
UncleKoboko:I will create and train you on how to use it |
Re: CBN New Policy On Cryptocurrency: What You Should Know by wonder233: 12:20am On Feb 06, 2021 |
Vacuous youth: shove your end sars farce down your anus. The only people that died where the ones hoodlums killed after you provided the enabling environment for them by your thoughtless blockade of roads and breakdown of law and order. Bunch of bandwagon goats. Endsars bend your mouth there. Read? No! All they do is press phone and seek thrills. What do you know about economics, monetary and fiscal policies? Coming here to say "endsars". Wasted generation magicminister: 2 Likes |
Re: CBN New Policy On Cryptocurrency: What You Should Know by ARAGON22(m): 12:20am On Feb 06, 2021 |
slawormiir:
|
Re: CBN New Policy On Cryptocurrency: What You Should Know by Baruwaaaaa(m): 12:21am On Feb 06, 2021 |
Nigeria my Nigeria It is well |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Dynamiq(m): 12:22am On Feb 06, 2021 |
stuntman007:Sorry that I just hopped in here with a few questions. To open a Gtbank account in Ghana for example, does one have to go there physically or could it be done online? Secondly, if money is paid into a Ghana Gtbank account and the owner (whether Nigerian or not) is in Nigeria, can one cash out Naira in any Gtbank or other bank's ATM? I would appreciate your explanation. Thanks. |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Mcslize: 12:24am On Feb 06, 2021 |
MartinsD12: Yes na. Was it not in the travel section a guy said he bought 0.8 bitcoin since 2015 and lost the login details since that time and as God will have it, he ended up finding the piece of paper he wrote the login details to his bitcoin wallet. Guess how much he sold the 0.8 bitcoin this 2021? 12 million naira. Tell me if perhaps he kept 12 million naira by now won't the value depreciate. That's how valuable crypto is if you can be patient to hold it for long. 1 Like |
Re: CBN New Policy On Cryptocurrency: What You Should Know by calcal: 12:42am On Feb 06, 2021 |
Again, NO government on this earth wants this crypto. crypto is a business of the 21st century, you need not to own an oil block to be a millionaire. Cryptos will be packing the limited available hard currency from the CBN, sorry, it is what it is. This crypto is better than the Dangote business. some NL members are crypto millionaires already. 1 Like |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Abies2d(f): 12:48am On Feb 06, 2021 |
Even the p2p will no longer work. As long as the bank details u are dropping, whether already registered with binance or not is a Nigerian bank. meekhat: |
Re: CBN New Policy On Cryptocurrency: What You Should Know by magicminister: 12:55am On Feb 06, 2021 |
wonder233: Remove all the insult and see if you made any atom of sense! You can engage people without resorting to insult but I guess your parent didn’t teach you that and even if they did, it’s obvious you learnt very little of nothing at all! 1 Like |
Re: CBN New Policy On Cryptocurrency: What You Should Know by bigiyaro(m): 1:08am On Feb 06, 2021 |
That stupid block head igbo man working for the Fulani cabal in aso rock, as CBN governor, the north is just bent on dragging the whole country to their myopic retarded and backwards state. |
Re: CBN New Policy On Cryptocurrency: What You Should Know by grandstar(m): 1:08am On Feb 06, 2021 |
Buhari and Trump share one trait together-that is throwing out the baby with the bathwater. Bitcoin is at the heart of 2 of Buhari major interest-thst is a stable naira and his war against corruption. This ban on crypto is an extremely blunt way of dealing with these 2 problems. It will simply cause pain with no gain. Solution to the forex crisis is to free the Naira and let it be market determined. Buhari has refused this hence his use of archaic and unworkable policies to address the issue Yes, cryptos can be used for corruption but it's mostly used by these yahoo boys to collect overseas cash. If you want to stop their nefarious activities, a crypto ban isn't the way as numerous others use it too. For some reason, I believe there's going to be a policy somersault cause the outcry will be too much. Then again if PMB refused to budge for over a year over the lamentable closure of the land borders, crypto users should keep their fingers crossed. Anyone who deals in Bitcoin uses it to survive. This policy will adversely affect hundreds of thousands easily. |
Re: CBN New Policy On Cryptocurrency: What You Should Know by bluefilm: 1:12am On Feb 06, 2021 |
I see the fear of the threat of #EndSARS protest in this recent move by the government. |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Abies2d(f): 1:16am On Feb 06, 2021 |
What is happening with l Binance. I can't seem to sell my usd via p2p... It keeps saying insufficient balance� |
Re: CBN New Policy On Cryptocurrency: What You Should Know by grandstar(m): 1:21am On Feb 06, 2021 |
id911: Buhari bares 50% of the problem. Emefiele the rest. These policies are 100% Buhari influenced in a quack move to stem a devaluation of the Naira. Emefiele's fault is basically not telling the president to shoo. The CBN is semi-autonomous and it was made so to prevent political meddling. Sanusi would never have been so submissive. Both bare 90% of the fault for the squalid state of the economy today. Osinbajo is innocent. He's a figurehead and going against his boss won't be wise as was the case with Atiku. His 8 year loyalty will grant him Buhari's endorsement for the presidency in 2023. Osinbajo will scrap most of these policies. Many deputies have turned out to be the direct opposite of their boss upon assumption of power and he won't be different. |
Re: CBN New Policy On Cryptocurrency: What You Should Know by grandstar(m): 1:24am On Feb 06, 2021 |
Twode: There's a ban on the use of crypto |
Re: CBN New Policy On Cryptocurrency: What You Should Know by pacespot(m): 1:45am On Feb 06, 2021 |
India is also taking a similar step to create its own digital currency and ban all the privately owned cryptocurrencies. I think it is a move by hedge funds and those big money investors to stiffle out the masses from having too much influence on financial instruments. We also saw similar move recently in Wall Street when some stocks were set to close-only and consequently inaccessible for trading for retail traders, stocks such as GameStop were closed out by brokers to prevent retail traders from opening a new position, except those of hedge funds. I think there is some kind of big financial war going on of late between the big institutional investors and retail traders, those big money bags don't want the masses to enjoy the same kind of privileges they have been enjoying for years. They think all these financial instruments like cryptocurrencies are giving too much powers to the people, so they want to control them. Up till now, USA has not officially accepted Bitcoin as an alternative for storing of wealth like gold is used as a hedge against inflation, though understandably being the owner of the largest forex reserve currency in the world, the green back. 1 Like |
Re: CBN New Policy On Cryptocurrency: What You Should Know by piagetskinner(m): 1:45am On Feb 06, 2021 |
Useless government.. all they want is youths to keep living on bailouts.. I don’t know what their useless 30k can do in somebody’s life.. ? They should shove it up their wrinkled arses |
(1) (2) (3) ... (6) (7) (8) (9) (10) (11) (12) (Reply)
Benin Ekiosa Market Fire: Thieves Return Stolen Items / Suya Seller Sleeps Off While Standing And Selling Suya In Lagos (Photos) / Bitcoin Lord Acquires New Mansion And Cars After EFCC Release - Pictures
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 51 |