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Nairaland Forum / Nairaland / General / Business / FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times (37343 Views)
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Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by Geovanni412(m): 9:41pm On Feb 21 |
gaby: 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 1 Like |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by bunbam: 9:41pm On Feb 21 |
[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] |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by Kemistri3(m): 9:41pm On Feb 21 |
Are cold wallets like Trust Wallet affected by this? |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by TheOgaBoss: 9:42pm On Feb 21 |
StOla:and to your warped mentality this is the solution? 1 Like |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by StOla: 9:43pm On Feb 21 |
azpekuliar: 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. 1 Like |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by DeLaRue: 9:43pm On Feb 21 |
lalabrother: 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. 2 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by airsaylongcome: 9:44pm On Feb 21 |
gaby: You will be surprised to know that VPNs can be detected and blocked 2 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by didymario7(m): 9:44pm On Feb 21 |
tensazangetsu20:The problem is not that the west controls the govt. The problem is the caliber of westerners in power. 4 Likes 1 Share |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by airsaylongcome: 9:44pm On Feb 21 |
Ebubu2: VPNs can be blocked fam 7 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by StOla: 9:44pm On Feb 21 |
DeLaRue: Please loud it for the economic terrorists who think everything that makes them richer at the expense of the country is their birth right. 7 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by CyberWolf: 9:45pm On Feb 21 |
Appletek: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. 6 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by airsaylongcome: 9:45pm On Feb 21 |
MrPADDY: All blockable 3 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by azpekuliar: 9:45pm On Feb 21 |
StOla: 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! 5 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by Milec: 9:46pm On Feb 21 |
Naira/dollar has dropped to 1500/dollar on binance amid binance ban speculation. 2 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by CyberWolf: 9:46pm On Feb 21 |
airsaylongcome: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. 3 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by airsaylongcome: 9:48pm On Feb 21 |
CyberWolf: 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. 3 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by Ajheboy: 9:49pm On Feb 21 |
Kenneth4u205:lol |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by StOla: 9:50pm On Feb 21 |
Lifemanage: 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. 7 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by Hoelujohn: 9:50pm On Feb 21 |
TruthsFM:I heard from inside sources that Binance will seize people account ooo. Bet sell sharp sharp 3 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by azpekuliar: 9:51pm On Feb 21 |
airsaylongcome: 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. 6 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by HandsomeBlack: 9:53pm On Feb 21 |
gratiaeo:Hmmmm.....thought provoking! 1 Like |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by CyberWolf: 9:54pm On Feb 21 |
airsaylongcome: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. 5 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by OlujobaSamuel: 9:56pm On Feb 21 |
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 9 Likes 1 Share |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by DeLaRue: 9:56pm On Feb 21 |
CyberWolf: 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. 6 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by Calylove: 9:57pm On Feb 21 |
All these platforms are used in other countries and they do not affect the currencies of those countries. Politicians should check themselves. 8 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by TruthsFM: 9:57pm On Feb 21 |
Hoelujohn:they don’t have any power to do that now 2 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by koyeni(m): 9:57pm On Feb 21 |
StOla:You are 'too' intelligent |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by esemes256: 9:58pm On Feb 21 |
MrPADDY:Anybody with a Nigerian identity will be blocked on those platforms (binance and co) 2 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by ispreloaded(m): 9:59pm On Feb 21 |
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 2 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by airsaylongcome: 10:00pm On Feb 21 |
CyberWolf: 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 5 Likes |
Re: FG Blocks Binance, Coinbase, Octafx, Kraken, Other Crypto Firms - Premium Times by CyberWolf: 10:01pm On Feb 21 |
DeLaRue: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. 3 Likes |
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