Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

Two questions

1. What is the source nation you're referring to?

2. Hope you know when one buys bitcoin, you're not buying from thin air. You are buying from someone else and paying the person. Exchanges only faciliate this process by ensuring it's safe and secure. So how does this bypass banking?

AdaNri1:

Is that the most pressing issue in Nigeria now?

Yes it's a pressing issue because it is now been used to scam people

groomed:
idiot, there are people like us that receive funds in Bitcoin and we run monthly figures in hundreds thousands of dollars... within a subsection of nairaland here. Let's not talk about the the entire Southern Nigeria

But you APC baboons and wasted sperms will come here (after your whatsapp meeting) to tell us that APC led admin made the best policy to kill your motherfucking mother... I COULD put a gun through your lungs... yes, I said what I said.

Do you have any business, do you? God knows the day I will meet any of you bastard offline supporting this demonic party offline just because you are benefiting from it, BLOOD MUST FLOW and I am really looking forward to that day.

Mumu.

I support Buhari's government. I voted him twice. 2015 and 2019. If these elections were to hold again, I will still vote him in as much as PDP is the major contender.

I stay in Lagos. Do you really wanna meet me? It's weekend and I'm free. Send me a PM. I'll meet you anywhere. E no go better for you if you no PM me. Blood must surely flow ...

AdaNri1:
The next time you see a Hausa man in politics remember that cows come first for him, then judge wether he can govern people.

Let this mistake of 2015 never be repeated again.

They will still repeat it.. Share #200 each for the zombies and see them voting what will kill them

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

Your papa...dts all I can say

Let them shut it down. Let them shut down the whole country.

It is time to go.

SimplyFacts:


Hatred won't make some people see any meaning in such comments. The fact is most of those spitting nonsense all over the threads may not even know what Crytocurrency is.

I noticed that too..many don't understand crypto currency or ever used one.

They only want to comment for bragging rights

PrinceOfLagos:
Nigerians deserve a man like buhari .

We warned them in 2015 but they callled us names

Let them enjoy the buhari bad effects

Yes o

Nah to move go Canada leave dem for d shithole

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

What has the country done to encourage independent investors? Apart from real estate, maybe Agriculture, what other sector of the economy is easy to invest in?

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

just listen to your self.

Something is definitely wrong with the leaders of this country, few days ago, lagos state government seized 80 okada bikes throwing 80 young men into unemployment instead of taking fines from them.

Now buhari has stopped digital currencies from dealing with Nigerian banks.

Has this government sworm to make sure the people of this country especially the youths must suffer?

Patrioticman007:
The CBN is from 5% percent & he professionally advised the president of 97 % percent, why the noise please ?.

please elucidate. I think I have interest in this post of yours

Your mentality is very low... I bet you don't understand crypto

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

Atiku is seriously way smarter than the slowpoke in aso rock,Africa should be on the race to dominate the blockchain revolution and that'll be their only chance of climbing into the global economic power.

He who controls bitcoin will one day control the world.

AdaNri1:
The next time you see a Hausa man in politics remember that cows come first for him, then judge wether he can govern people.

Let this mistake of 2015 never be repeated again.

you can't win without Hausa .

Hausa can win without you

Esseite:
Atiku is just chasing clout... CBN took the best decision.

[b]Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.[/b]

And you obtained the indices for the bolded assertion from where exactly..?

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

So i should put 10 million in a bank that pays less than 3 percent interest or buy stocks in unproductive companies that would half the value of my initial investment after a year?

How is the currency domiciled abroad when you have instant access to it.


You have no understanding of how economics work's, crypto traders are actually robbing from western countries and bringing wealth into Nigeria.

Let me ask you, after making crypto profits in what currency do they withdraw and spend ?

Think through the last paragraph properly

mrfreestuff:


I think you missed his brilliant analysis sir. You guys are loading naira to buy USD which is now shipped outside Nigeria for hoarding and possibly to build their own economy at your own risk. You are their MAGA o!
Remember, you will still change the Bitcoin back to naira to spend in an economy you robbed of the returns on the value stored in it.

Just 1 year run of it, naira has been devalued twice and you still don't get it that mopping and exporting $200 million monthly when you earn less USD inflow is suicidal and can never be sustained?
It is the greed that eventually exposed how the business is practically killing the rest of us not in it.

I think you missed my analysis too. What were we doing right when naira was around 150-180+. Don't feign ignorance of what's going on. You want to pin everything to crypto when there is little or no development going on in the country.

The stupid CBN never thought of how they can regulate and generate income from crypto.

Take paystack that was acquired by Swipe a company utilizing blockchain and have its own coin SXP as example. We have lot of similar companies that would have thrived but for crazy policies.

Have you tried checking P2Ps in Nigeria.

Crypto is not the cause and not part of the cause of naira downfall. We will only improve Ghana, Benin economy with this ban.

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

Beer parlour economics.

doxijaw:


So i should put 10 million in a bank that pays less than 3 percent interest or buy stocks in unproductive companies that would half the value of my initial investment after a year?

How is the currency domiciled abroad when you have instant access to it.


You have no understanding of how economics work's, crypto traders are actually robbing from western countries and bringing wealth into Nigeria.

Let me ask you, after making crypto profits in what currency do they withdraw and spend ?

Think through the last paragraph properly

Honestly, many of them don't know shit about crypto. I have stocks with foreign companies but won't dare touch Nigerian companies.

They expect me to stay with banks interest or the tbills or sukuk funds. When I can get *20 of whatever they offer in Defi. And I will still bring this extra profit back for use in the Nigerian economy

You are a FOOL (x2)....

Thank me later

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

Exchanges in Nigeria charge trading fees and pay tax.

Bitcoin is a medium of remittance ,its like saying Western Union is depleting the economy.The only economy Crypto is depleting is aboki economy(beaureu de change)

Low IQ is affecting you

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

So it is whose fault that our stock exchange is not doing well? You are talking about my money being domicile in Nigeria and creating jobs without thinking about what I must have lost as an individual. Money coming into my bank will first of all suffer Stamp Duties before other bank charges and maintenance fee. Bank will use my money to make more money but end up giving me useless interest at the end of the day. I saved 100k in my bank since January last year and now the money is worth 100,950 just 950 naira interest, imagine if I had invested in ethereum by now I will have nothing less down 700k. If the economy is working, who will think of investing in crypto but before crypto the economy isn't working and crypto is here the economy is still not working. you all now want to blame it on crypto. It is not sensible in anyway.

CryptoRepublic1:
Atiku is seriously way smarter than the slowpoke in aso rock,Africa should be on the race to dominate the blockchain revolution and that'll be their only chance of climbing into the global economic power.

He who controls bitcoin will one day control the world.

@bold Very true!
Our inability to see the future is why we are where we are today!

mrfreestuff:


I think you missed his brilliant analysis sir. You guys are loading naira to buy USD which is now shipped outside Nigeria for hoarding and possibly to build their own economy at your own risk. You are their MAGA o!
Remember, you will still change the Bitcoin back to naira to spend in an economy you robbed of the returns on the value stored in it.

Just 1 year run of it, naira has been devalued twice and you still don't get it that mopping and exporting $200 million monthly when you earn less USD inflow is suicidal and can never be sustained?
It is the greed that eventually exposed how the business is practically killing the rest of us not in it.

the bolded is the koko. The bolded shows that eventually something tangible comes back that eill be spent in Nigeria. Money will get pumped into the Nigerian economy at the end of the day. Now that the gov says NO, that money goes poof? 100% of 0 is what??

doxijaw:


So i should put 10 million in a bank that pays less than 3 percent interest or buy stocks in unproductive companies that would half the value of my initial investment after a year?

How is the currency domiciled abroad when you have instant access to it.


You have no understanding of how economics work's, crypto traders are actually robbing from western countries and bringing wealth into Nigeria.

Let me ask you, after making crypto profits in what currency do they withdraw and spend ?

Think through the last paragraph properly

Is the currency domiciled in native banks or CBN?.. its same process how you have access to your foreign bank accounts and can withdraw even outside the country.

How does it bring wealth when the funds are paid out without any income whatsoever to your source country where you might have raised the initial capital?

The wait for the rise if any, has give the source country your capital to trade and make massive margins way beyond the profit rise if any for the period of time..

On that last line.. if we all go into crypto, while doling away funds used in recycling the economy, would it not prompt Govt to oil the economy which in turn causes inflation?

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

What people like you don't know is the market is fluid and just like water, it must find its level or its way.

Patriotism doesn't build an economy or market. Policies and approach to business does. All you wrote is just hogwash. I apologize.

How many ordinary people trading on the stock market have made a profit? Matter if fact, stocks we bought since 2007 have not even yielded their capital because of the scam and in-trading going on in the NSE.

You treat people like shlt, they flourish and you're trying to stifle them? It won't even work.

You also raised a point about keeping your money in the bank so they can round trip, and "boost the economy" Lol.

These banks make money off you, while you remain poor; this is not putting hyper inflation which has come to be today into consideration.

An example is this. Sometimes in 2020, I ran about ₦30M through my account. Do you know for the months my funds were there, FCMB were stealing from me? Yes literally stealing because the arbitrary charges they were collecting weren't even reflecting in my account statement and they didn’t even send notifications for them.

In all, the CBN made a wrong call and they will lose more because

1. THEY CAN'T BAN BITCOINS.

2. Nigeria was just beginning to be a global hub for fintech. That's gone now.

3. Jobs will be affected and you know the funny thing, this does not even affect the peer to peer bitcoin exchange industry in Nigeria. It's the exchanges who were creating jobs this policy affects not bitcoins per se.

Also if history has thought them nothing, they should know Nigerian youths are very good innovators and this is just a speck of stone thrown at a behemoth wall. I currently have over 1,000 BTC in my wallet as we speak and I'm not even moved one bit!

Goldencheese:
Atiku has finally spoken. I hope the president would hear.

IF you've been observance you would know atiku solidarity/support to any course under buhari administration further complicate issues.
Infact atiku as just succeeded in making buhari feel he did the right thing ... which is fighting corruption.

PrinceOfLagos:
Nigerians deserve a man like buhari .

We warned them in 2015 but they callled us names

Let them enjoy the buhari bad effects

The options we had in 2015 and 19 wouldn't have fared better. If I can turn the hands of the clock back to those times, I will still vote for Buhari once again.

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

What a shortsighted and selfish submission borne out of mischief.So it's now the small money of the teeming unemployed youths that you want to use and boost ur economy?

Did you create any job opportunities that they refused to engage?

U have forgotten about small businesses have been taxed and shut down for flimsy reasons And u still expect the youths to invest in those businesses that could crumble in a minute
Infact , you need re orientation and re education