Freestainworld:
with cryptocurrency, the government will be losing alot of money since they won't be mediating on individuals who trades online, reason they are banning it.

ichidodo:
Yeah.. But what about Main street?..American economy isn't all about Wall street..The resuscitation of Wall Street after the Crash was and still borne by the taxpayers..I.E Main Street..What's the use of a strong bull run in Wall Street when the Budget deficits is running into Trillions....We haven't settled that one and you are bringing the poisonous snake of cryptocurrency..Smart Nations like India don't have time for that, they simply cut the head off, no time.

martineverest:
learn to update urself about what's going on in the world...there is a reason why USA haven't approved Facebook's libra cryptocurrency.many western governments are banning or going to ban cryptocurrency

Kobicove:
The recent onslaught against crypto is probably because it has become obvious that the recent increases in price of crypto is mainly due to manipulation and not market fundamentals

afroxyz:


I get point. First, the US would continue having deficit because their cash is not backed by gold. All they need to do is raise the debt ceiling and keep printing. Secondly, the stock market has always been divorced (or ahead) from the real economy. Thats why deapite the exonomic receaaion in the pandemic, the market was doing well. Also Wall Street has even be more reluctant than main street in accepting cryptos. Retailers (main street) see this as a way at getting back at institutionalized finance and xontrolling their finance. Finally, ezpecting central banks to warm up to cryto is like expecting a lagos cab driver to like uber or cinema operator to like netflix. These new innovations threaten their very existence. So why should u accept the opinion of central bankers when they are inherently biased in the first place?

JP Morgan warned its investment mangers not to discuss cryptos with clients in 2016

Springboot:


China is not poor, Canada is not poor. Bitcoin is not legal there.

Kobicove:
The recent onslaught against crypto is probably because it has become obvious that the recent increases in price of crypto is mainly due to manipulation and not market fundamentals

JohnBullMySon:
Nigeria is Africa's largest economy, and 24th in the world. so are we developed?

ichidodo:
Bitcoin or cryptocurrency is an innovation alright but a dangerous innovation that can bring down Economies and Governments because it goes against the soul and spirit of what money as a medium of exchange is all about, besides tis not all innovations you accept... Affiliate Marketing is a good innovation and so is Ponzi Scheme??..

afroxyz:


Anyine with good enough system? Lol. Abegi. Miners are moving to regions with clearner energy to reduce electricity costs. Miners are pooling infrastuture tigether to reduce overhead mining costs. Incase you dont know, there are bitcoin atms and cards, plus people are even getting paid for services in bitcoin.

JohnBullMySon:
after Nigeria, India is the next poverty capital oga. naija took over from them.

JohnBullMySon:
Nigeria is Africa's largest economy, and 24th in the world. so are we developed?

leokid866:

yes people are taking bitcoin as payment but worldwide what percentage of goods and services are been traded with bitcoin? do you think it's up to 1%? regions with cleaner energy.....lol.....what I know of is one guy in Canada that built his grid over a guiser and using the heat to generate electricity......and it still cost over $20k monthly to maintain it.....the thing generates so much heat he has to power it down for hours just to do maintenance work.....however you want to run it, you can't escape the power costs.....and if anyone has been collecting money from you to mine bitcoin just know now they have been running you street.

Brendaniel:
However, according to the official, the ban would not be imposed overnight, as in the case of Nigeria. Instead, investors would be given three to six months to liquidate their investments.

Buhari's government way of handling matters is like You seeing a snake in your farm and you call Buhari for help to catch the snake, Buhari claiming to be an expert sets your entire farm on fire and brings the dead snake to you ...

rodeo0070:


https://brandspurng.com/2021/02/13/india-bans-cryptocurrencies-gives-investors-6-months-to-liquidate-their-assets/

Kennyking1234:
cryptocurrency is the future

truthfulparrot:
Cryptocurrency started as a good idea until Casino speculators and Ponzi manipulators started taking advantage of the fact that the scheme is largely unregulated to cash out big time.

Please how is crypto different from stocks that is largely centralised and can be manipulated? I hope you're not oblivious of recent events surrounding AMC and GME stocks. Yes, stocks is largely rigged as well. Oh by the way, bitcoin is truly decentralised.

Cryptocurrency is now the beautiful bride of money launderers and drug racketeers. Proceeds of criminal and illegal activities running into billions of dollars are passing through the cryptocurrency schems without being detected.

There is nothing new under the sun. Any money instrument can be used for this purpose. Next.


International business entities and billionaires started embracing cryptocurrency in other to envade tax. Developed countries like US, Britain and China had no choice than to join the bandwagon to the detriment of the economy of poor countries. But I am sure that these countries will soon ban cryptocurrency. THE CRASH OF CRYPTOCURRENCY IS IMMINENT.

You seem to demonise cryptos so much that your basis of large corps getting into the crypto space is extremely flawed. Microstrategy, Tesla, Grayscale and Square all have bitcoin as a corporate treasury. You think the SEC in the US are not aware of these moves? Lol your argument is weak. I don't know how rich you are but if the richest man in the world is buying bitcoin, you should have a rethink about the poor financial decisions you've made in the past.

The fact is Cryptocurrency is international version of MMM. It is highly erratic and unpredictable.
Cryptocurrency will cause great damage to emerging economies like India and Nigeria.
No doubt, cryptocurrency is the currency of the future only if a new world order can be achieved.

"A ponzi is presented as a non-existent enterprise fostering the payment of quick returns to the first investors from money invested by later investors." I'm actually here to educate you and not throw cheap shots. I'm a bitcoin maximalist. Bitcoin is built on a decentralised and distributed public ledger. This means no one person controls bitcoin. Basically it is seen as a digital form of gold to hedge against inflation. So if you don't get any thing from my spiel, bitcoin is the best performing store to value in the past decade. It's market cap currently at $871 trillion has surpassed Facebook, Tesla and JP Morgan. Banks in the Western world like BNY Mellon are planning to be crypto custodians. Other companies like Visa, Mastercard, Apple, Facebook etc have adopted/planning to adopt cryptos one way or the other.
About being highly volatile, there are stable coins like USDC that can serve as a suitable medium of exchange and unit of account so that argument again is weak.

SatantheDestroy:
lol ban it please. this is why i said that naija people get bad luck and are cursed entities.
this thing has beeen there for ages o. but as e enter naija, them start to abuse am. now see the result

TheGift:
So the photoshopper of this image did not have the decency or patience to photoshop the animal's body from that of a sheep to that of a dog- as s/he did the face

Brendaniel:
However, according to the official, the ban would not be imposed overnight, as in the case of Nigeria. Instead, investors would be given three to six months to liquidate their investments.

Buhari's government way of handling matters is like You seeing a snake in your farm and you call Buhari for help to catch the snake, Buhari claiming to be an expert sets your entire farm on fire and brings the dead snake to you ...

afroxyz:


It costs about $8k to mine one BTC. Thats why suppky would be reduces hence incrasing the unit price. Hiw long did it take the world to change from gold and barter to paper money? This things happen in stages. Less than 1%, but the numbers are racking up.

Freestainworld:
with cryptocurrency, the government will be losing alot of money since they won't be mediating on individuals who trades online, reason they are banning it.

afroxyz:


Economies and governments are social institutions. They would always evolve to meet the present needs of society. There was once a monarchical and feudal class. We were once trading with barter system. Im sure when paper money and capitalism was introduced they were severly opposed. But here we are.

Another change is brewing on the horizon, do you want to be on the wrong side of history? The market decides what is valuable and how to allocate resources to that value. The present market is calling for a decntarlized financial system. The only reason why central banks are banning is because it strips them of their authority, plus they have not figured out how to regulate and profit from crypto transactions.

afroxyz:


Yet BNY Mellon, Deutshe Bank have started accepting cryptos for clients. Morgan Stanley invested $420m in Microsrategy. Paypal, Mastercard and Visa are xoing on board. Do you think you are closer to tge US govt than these institutions? Do yiu tbink tou can preempt the movea of govt better than these institutions? Canada just approved its first bitcoin ETF. Don't be a dinosaur

mike8804:
government is for controlling the populace, any threat to that will be met with outright sanctions. bitcoin takes the financial power of the government on the people and give it back to the people.