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Nairaland Forum / Nairaland / General / Business / Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies (23022 Views)
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Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by yusluvad(m): 11:15am On Feb 08, 2021 |
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Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by FemiLastBorn(m): 11:16am On Feb 08, 2021 |
Veqtor:must u involve tribe? Na people like una be Nigeria problem.. 3 Likes |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by Nobody: 11:17am On Feb 08, 2021 |
privaldo: Government can not monitor your transaction that is if you can even make transactions at all. Presently, you can't even buy crypto with a Nigerian bank card or payment gateway. You can only do offline p2p not online. Government can not monitor offline p2p but online, they have dismantled the means of buying until further notice |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by SatantheDestroy: 11:18am On Feb 08, 2021 |
3 btc sold and cash dey my bank . i dey my house come and hol me na 4 Likes
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Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by mmsen: 11:18am On Feb 08, 2021 |
thebosstrevor1: You gave the example of ethereum but ethereum is one of the worst examples of cryptocurrency out there - it's blockchain is horribly bloated, inefficient and open to manipulation by a central body, the very antithesis of the dream as stated in the bitcoin whitepaper. There are plenty of better options where you will not spend $30 to send $300. Even bitcoin tx fees are nowhere near that high, xmr, ltc, doge, bch are all cheap and easy to send. P.S. I was under the impression that Nigerians could open paypal accounts. |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by Fixey: 11:20am On Feb 08, 2021 |
Sctests: Modify. The president's defacto order |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by kponkedenge(m): 11:21am On Feb 08, 2021 |
Sctests: The CBN governor is just a figure head.... The order came from the top.... He only came out to announce and implement it. |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by RRodwave(m): 11:21am On Feb 08, 2021 |
Ok And crypto dn surge now |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by SatantheDestroy: 11:23am On Feb 08, 2021 |
thebosstrevor1:una funny o. na how many people dey use card trade btc before sef? go to localbitcons and other merchants and see the reality. the only people that can ban this na paxful, remito and localbitcoins and the rest. yes if them ban , that is when this will take effect. all those old people are not even smart enough to know how btc works. these are all empty threats 4 Likes |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by SatantheDestroy: 11:23am On Feb 08, 2021 |
RRodwave:this type of senseless news cant make it surge my guy 1 Like |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by criuze(m): 11:25am On Feb 08, 2021 |
the cattle industry have not understand the crypto technology 1 Like |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by byteem: 11:25am On Feb 08, 2021 |
thebosstrevor1: Sharrrraaappp 2 Likes |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by MyOpinion1(f): 11:28am On Feb 08, 2021 |
No money to steal and deduct unnecessary charges on People are wiser now, how do you explain charging me on my money you are using to do business... The youth are getting more informed and they are angry because it is decentralized.. Let them continue to shoot themselves in the leg in the name of useless monetary policies. Mtcheeew |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by SatantheDestroy: 11:28am On Feb 08, 2021 |
thebosstrevor1:yes u are making good points but if you are as old as i am in this, u will know that govt ban is totally useless. 98% of people buying crypto dont use cards, they use sites like paxful, localbtc etc. where u have to send the cash to the persons account. now tell me, how will bank track that? the only people that can ban naija are those top companies. but i bet you they wont because they know that naija is a top player in this. as for the guy talking of paypal, ignore am , he is as cluless as the govtt. infact majority of the people screaming about crypto ban are just cluless 7 Likes |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by privaldo: 11:28am On Feb 08, 2021 |
thebosstrevor1: You don't get me, do you? I meant if you open an account outside Nigeria maybe another West African country, and carry out your transaction seamlessly will the government stop you? For context, you would still maintain your Nigerian account just that you would transfer to your foreign account when you want to make a crypto transaction. 1 Like |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by SatantheDestroy: 11:31am On Feb 08, 2021 |
thebosstrevor1:bro most of you guys here sound so clueless. do you know that 98% of crypto is traded using p2p? by p2p i am talking of platforms like localbitcoins etc NOT THAT CURRENCY SCAM THREAD U GUYS USE FOR RUBBISH IN THE NAME OF TRADING 4 Likes |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by SatantheDestroy: 11:32am On Feb 08, 2021 |
thebosstrevor1:stop misinforming people. so u are saying i cant use paxful or localbtc to buy it? well let me not even over disclose shit here, na the ssame nigerians cast the btc. let me return to my ahsawo thread |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by privaldo: 11:32am On Feb 08, 2021 |
SatantheDestroy: That's what many don't understand, almost all of Nigeria's crypto transaction is P2P, so its not a new scenario. |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by Nobody: 11:34am On Feb 08, 2021 |
SatantheDestroy: Yes Government can track that transaction not in the crypto sense of it but know that anything that passes through the banking system can be tracked. P2p will increase but also p2p is risky if there is no escrow |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by ochuski(m): 11:35am On Feb 08, 2021 |
Guys.... Whats the way forward with this ban.? How can i make crypto purchase amidst all this? |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by Nobody: 11:36am On Feb 08, 2021 |
SatantheDestroy: Didn't you read where i wrote p2p will flourish |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by SatantheDestroy: 11:36am On Feb 08, 2021 |
privaldo:exactly. reading the comments here even made me realise that most of the guys acting as if they know it all about crypto are basically clueless. this is something the united states, china and many other countries with very sophisticated tech couldnt crack down. is it naija that cant even count their citizens properly that will be able to crackdown on crypto? well, i see this as another news to distract people so they can carry out their loot 6 Likes |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by ec0malchemist(m): 11:37am On Feb 08, 2021 |
When you elect uninformed, poorly exposed, unteachable, and backward thinking octogenarians leading the nation, what else do you expect? Progress Una never see anything for this country. Government na barawo bloggers na arm robber imam dey gbaladun pastor na enjoyment 1 Like |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by Lexusgs430: 11:37am On Feb 08, 2021 |
So long as blockchain exists, crypto shall continually exist......... Crypto dealers would simply look for alternatives and other exchanges........... Going underground and still dealing........ |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by SatantheDestroy: 11:39am On Feb 08, 2021 |
thebosstrevor1:yes i saw that. but u saying there will be so much scams is where i am not even getting you. how will you scam someone using localbitcoins or remito? 1 Like |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by Nobody: 11:39am On Feb 08, 2021 |
privaldo: When you open your account outside, that is a different ball game but if you are sending from exchanges abroad direct to your bank account, your account will be flagged |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by SatantheDestroy: 11:41am On Feb 08, 2021 |
thebosstrevor1:how will u be doing p2p without using reputable sites like paxful or localbitcoins? also how will govt track down the 200k u paid me for crypto without u writing its purpose? some of these things are just not obtainable |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by Wickedfacts: 11:43am On Feb 08, 2021 |
thebosstrevor1: Maybe in the North where you are. In the South, crypto is pretty popular here particularly with fintechs changing hoe we do business. |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by privaldo: 11:43am On Feb 08, 2021 |
thebosstrevor1: That was what I meant, you create an alternate account abroad do your crypto transactions and send it back to your Nigerian account in fiat currency. |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by CSTRR: 11:44am On Feb 08, 2021 |
The people investing in Nigeria are very strong. I wonder how they do it? This is one of the worst places for investment. That is why many Nigerians with one million or above are already investing in American stocks. And the number is going to get higher. 1 Like |
Re: Crypto Dilemma: Banking Public, Regulators Differ On Cryptocurrencies by privaldo: 11:45am On Feb 08, 2021 |
SatantheDestroy: Many of them just speak because they want to be on the side of the government, even those in the government know they can't stop it. This move by CBN will only make people look elsewhere, and business will continue as usual. |
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