Esseite:


There is nothing that has no source...

Research Mr African .. don't make the stereotype on African Intelligence true on you

Please read anything everything on Bitcoin

That's common sense

Werey dey disguise, he only talks about issues that gives him mass appeal but lost his voice about his killer herdsmen ravaging every part of the country. You can only deceive those who don't know you

thebosstrevor1:


You call crypto livelihood or you think crypto is selling orange in the market.

Do you know how many people have lost their savings in crypto

If they lost their money in crypto, they probably got involved with fraudsters. These fraudsters also exist offline as well. This does not mean one should throw the baby out with the bathwater.

Firstly, the job/endeavor you are currently engaged in that you think is not lazy is considered lazy by some people.

Secondly, crypto has nothing to do with outflow or inflow. You or any exchange doesn’t need forex to buy crypto locally as it is quoted in your local currency. It’s merely a settlement system.

Thirdly, you can just sit down and base arguments on a premise that you have conveniently created-

Who says crypto does 10%?

Who says having it domiciled in a Nigerian bank give you more than 10%? Are you in touch with current financial reality? When last have you transacted with your bank?

Who says investing in the society gives you more?

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

Buhari wants us to invest in crypto cowrency as a major economy boost.. How about that for a start?

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

i dislike people like you as much as i dislike the govt, you guyz have been on these economic bullshit for long where as it taken us, when you all morons learns economics theories are not designed for countries like nigeria, every policy that seems to make sense in textbook have an adverse effect on our economy when applied cos we have a government that is not sincere.
Can you even mention one policy from buhari/cbn that is not anti-people or just one policy that really revitalised our economy.
If you make one million gain and spend that one million in nigeria you havent starve the economy rather you've made a smart decision because a 10million deposited in a nigeria bank can't yield 1million interest in a year.
The best way to grow the economy is creation of more SMEs and infrastructural investment ... not fixing money in banks, that selfish. if i make money from cryto and spend it patronizing nigeria business somehow i vitalize the economy. lets stop using grammar to fool ourselves.

Kwanza:

https://www.pmnewsnigeria.com/2021/02/06/atiku-appeals-to-buhari-dont-shut-down-cryptocurrency-business/

So shutting down cryptocurrency business is your major problem ba? U try, continue

So shutting down cryptocurrency business is your major problem ba? U try, continue

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

And you think they can stop that from happening buy closing crypto currency exchanges in Nigeria?

The people have options that can't be controlled by CBN. The same CBN that can't control fiat currency black-market wants to control crypto currency trading. Do they even know how it works? Those local exchanges are only a way of transacting or investing in crypto. There are many other ways to buy and sell cryptocurrency - P2P, Foreign exchanges, etc. In the end, CBN will only end up hurting the Nigerian banking system and those start-ups providing services to the crypto exchanges. People will lose jobs, innovation will be killed, etc -You know what? Crypto trading will continue unhindered through other channels - P2P, foreign exchanges, etc.

Our archaic leaders only need to learn from developed countries whose high IQ have allowed to understand that what is required is regulation to prevent abuse, not out right banning.

For example, US SEC is suing Ripple for selling XRP saying it is an unregistered security. Immediately, many exchanges in the US de-listed XRP. Weeks after, very large financial institutions elsewhere (Japan, Europe, etc) are adding XRP to their list of cryptocurrencies. Why? US SEC regulation is only binding on US companies. To them, XRP is a cryptocurrency that has a real life application for cross-border payment.

So, Nigerian government can only chase crypto dealers away from Nigeria. They can operate elsewhere and the money goes there with them. How will CBN stops me from transferring my money to an entity in other country?

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

Okay but have you ever thought about this, how many of our politicians/rich keeps the money within to boost the economy, have you thought about their reasons?( Even embezzled funds will still be beneficial if still circulate within) rather they choose abroad to keep and do their businesses so why expecting so much from average Nigerians who you couldn't provide jobs or give enabling environment to start small businesses

kurupt1:


Na wa oo.People dey dumb Sha.......so the best way to forstall loss of the naira is to close crypto business

Is only crypto that can devalue the naira??There are like a thousand things that can kill ur currency!!eg- GDP , unemployment rate, stupid policies like the one ur dullard just did

Make una try dey read book and travel around!

Crypto and its whatever were not banned sir.

Seems you need your own advice because talk is cheap if you are struggling to comprehend a one-page memo issued by the CBN.

The social cost is huge to a country like Nigeria and its already setting us back even faster than corruption did so I support anything good for my fatherland.

okay

Gilbertase:
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??

The unfortunate thing is that what you spent now costs at huge social cost the rest of us have to pay for. It's like carbon tax, before it was imposed on travellers by airlines, those who never travel by air were paying the social cost at huge cost.

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

But if I left that 10million in a Nigerian bank account, it will be like 9million and some changes after some flimsy charges by our bank. Also 10 million naira of last year is like 8 million today

Kobicove:
What's Atiku's business in this matter?

Besides government did not shut down crypto business, they're only trying to regulate it

On the scale of 1 - 10, how successful are the ones we've seen them regulate. ehn !
The clampdown on crypto, is a vendetta base on the facts that crypto was the major channel that funded the #endsars movement.
Ever since the #endsar struggled elapse the govt have been making sinister moves to gag the people most esp. the youths ... NIN and other policies they've been coming up with is not economy oriented rather its a measure to throttle any struggle or emancipation. but nigerians are tew dumb to see thru

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

Where do we lose more money; corruption or investments in cryptocurrencies? What next? They will crack down on Trove, Bamboo etc because people use it to buy foreign stocks?

Esseite:


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?

The currency is domiciled in Nigeria, they have intermediary banks which you transfer to, eg if i buy wanted to deposit with binance the funds are paid into a Nigerian bank in naira, which improves liquidity, I'm shocked you don't know this, now they're saying let's stop receiving these funds in Nigerian banks, how is this helpful
?

Crypto is a means to an end, you make profits to spend, ultimately this currency flows back into the system.

I really regret Nigerians not voting this man into power

bluefilm:


Is it your greed?

Why don't you simply mind your own business rather than doing this unnecessary bad belle for people wey dey cash out steady from Coins?

Dont mind them, my brother.
They want to block the small cash we are making...
When the same CBN Governor secretively recruited sons and daughters of powerful politicians.......
including a nephew of President Muhammad Buhari in 2016....
The same CBN is not starving ordinary Nigerians...

PrinceOfLagos:
Nigerians deserve a man like buhari .

We warned them in 2015 but they callled us names

Let them enjoy the buhari bad effects

Wedo! Omome!!

Omome wedo!

I fought at every news paper stand in 2015 ..
We warned them , but unfortunately those friends of mine that danced for victory in 2015 are languishing in poverty presently...


I’m not mocking o

Mi o fi yo won o...

Elsueno:


But if I left that 10million in a Nigerian bank account, it will be like 9million and some changes after some flimsy charges by our bank. Also 10 million naira of last year is like 8 million today

My brother, many people don't understand how banks make money. The Nigerian banks make a lot of money from those crypto transactions because the money passes through them and in many cases sits with them. They give the money out as loans and make further profits on top of the transactions commissions, etc. Now, that money will move to banks outside Nigeria and the banks (including CBN) lose all the benefits. What is sure is, crypto trading will continue locally (P2P) or using exchanges outside Nigeria. CBN can't stop these from happening.

Looks like the CBN needs to send their management team on a crypto 101 course

Anything to try to canvas votes shaaa this one will just wake up

Kwanza:

https://www.pmnewsnigeria.com/2021/02/06/atiku-appeals-to-buhari-dont-shut-down-cryptocurrency-business/

Fbinvestigator:


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.

No amount of attempts to confuse us will work sir.
You don't have the information as much as CBN and BuyCoin which quoted that last year, $200m bought with naira was being shipped out to foreign countries every month .That is N1.2T being tied down idly !!
Yet this number keeps growing because of insatiable greed while the rest of us keep paying the social cost.
If Ghana and others want to destroy their economy by hosting people who will be shipping their hard earned USD overseas, they can go ahead and host such economic sabotage.

These countries can't even provide the kind of huge demand of monthly USD demand and if they do, they will seize and trap those funds with one policy and datsall. By that time, please don't come and beg FG to intervene and prevail on those countries to allow you take out your funds for repatriation to Nigeria.

tyup:
Someone check on Yunus or is it heliniose. ever since this Scripto currently ban news Nigga has been short of words to defend his Masters. Looks like the dumbo has been affected so Badly

Anyways, as for me Buhari should be the last Fulani to every occupy any helm of affairs in this country, any other Fulani rejected in which Atiku is stylishly one. there are reasonable Hausas Nigerians can pick from. tho we have to appeal to the South to give us the chance to correct our Mistakes by voting the North again 2023

Godforbid the NORTH in 2023!!!!!!!

PrinceOfLagos:
Nigerians deserve a man like buhari .

We warned them in 2015 but they callled us names

Let them enjoy the buhari bad effects

Exactly! No prayer or prophecy will change it

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

China and Russia all attempted to shut down BTC, What happens now ?

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

Abeg show me the conducive environment and business friendly provision that will lure people to invest their money on any good business.
a country full of insecurity, uncertainty, nepotistic leaders, even ordinary electricity is not stable.
is either you don't live here or you're just fooling yourself

Obasanjo said Buhari does not understand economics.

He just killed one of the good things helping him keep the naira stable

It reduces dependence on USD, provides income, jobs and startups

This one is talking trash, have you told those politicians you worship to bring back their stolen funds they took from here and stacked in foreign banks?
Oshii

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

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

Do you have an understanding of the workings of crypto at all? Is it owned by any country in particular? Crypto is not regulated in any way like the traditional currency. 1btc soared to over 40,000$, what more? What job or provision has been created by our government over the years? Please make your findings and talk with facts.