Bitcoin Forum

Alot of Nigerians knows about cryptocurrency and bitcoin but there somethings some still get wrong, like :
1. Some still think cryptocurrency is illegal in Nigeria (I once also believed this until Charles Tim enlightenment on it), whereas we are just banned by cbn from making any crypto relating transactions with banks.
2. Some see crypto and bitcoin as a get rich schemes without thinking of the risks involved.
3. Some see crypto and bitcoin as ponzi schemes because there are alot of crypto ponzi schemes like the cstcmine that recently crashed.
4. Some see bitcoin as something relating to fraud because of those fraudsters who call themselves BTC boys.
I will like to know how you teach others about bitcoin and cryptocurrency and what you focus on (whether it been a means of payment or as an investment)? .

Does someone really needs to preach about bitcoin in Nigeria again?
From my state both young and old talks about bitcoin even some famous Nigerian musicians calls bitcoin along the line with their song.
The things there is that they had different perspective about bitcoin just as you already said, due to what happened to them from a site or investment platform because I believe an average Nigerians loves ponzi scheme.

They love a platform were they could be getting return of their investment without them going into detail of where they are putting their resources, I myself have been against any platform were they said invest to get back 100 percent in just 7 days or so. So I think all these scenario are what causes most people that are from our locality not put much Interest in bitcoin because they believe it would just end same way without them knowing that there are more to learn than just investment.

Teaching people bitcoin is just like putting yourself into risk because they wouldn't mind to learn all it takes you would see them breaking out from you to start doing the investment themselves without an adequate teaching and proper orientation to stand firmed on their investment journey. Then lastly, this is fact "We are impatient" it could be hard to teach those who are not patient especially our young boys doesn't like what would stress them.

To tell you d truth, I nor dey preach about Bitcoin again like before wen I started dis journey. Bitcoin nearly make me kolo dat time as I begin spread d phenomenon to my friends and those around me but I later com realize sey nearly all of dem nor dey interested as na free I volunteer to teach dem then. Una sabi sey most people nor dey value anythin wey be free. Dem go see am as per e nor get value because if e get value you wey dey teach supposed charge dem money or you for don hammer. Now na only once in a while I fit talk about am with those wey I sure sey dem serious for d matta.

All those people wey they see Bitcoin like that lack knowledge about the exact meaning of Bitcoin and it's ability.
Most of them they very lazy to educate themselves about Bitcoin, so them go just they spread fake news say Bitcoin na scam, or na ponzi scheme especially if any exchange crashes at that time.
While some people they think say na place wey dem go just double their money sharp sharp, so if the market no gree do well, them go they complain say Bitcoin na scam.

The advice here be say, anything wey person wan do, make them make sure say them do enough research about am so that them go know the exact meaning of that thing.

Bitcoin has never be been a payment method but an investment. All those who see bitcoin as an illegal coin or business will get themselves to be blame and will regret in the nearest future.
Telling people about bitcoin on the two terms you use is good but but based on the discussion between you and the listener. Bitcoin as a payment method it is only online and we country never use to day level. And for investment, yes it is the one most of us are into.

I only talk to very close friends about bitcoin presently,and when I am doing this,I tell them the truth so that they will not say I didn't tell them about it. I tell them it is an investment because you know say when person get money because he too lazy,most of them no go won stress themselves again. So I go tell them if them like to invest for bitcoin that they will benefit from it in a long term package.

Nigeria young boiz no like stress and you know say to invest into something you need to get the proper knowledge, so them no go fit dey patient enough learn and invest. As long as na their money them go use and them no go see profit immediately, them go laugh you say,you dey waste your time.  I believe say time dey come wey many of these youths were dey see bitcoin as waste of time go say had I know.

As at the stage we are in the global bitcoin adoption, there's no need to go extra miles advertising bitcoin or preaching it to others because bitcoin is one of the most popularly searched words on google, everyone interested in seeing change in their financial economy circumstances would have by one way or the other heard about bitcoin and would have make every necessary efforts in knowing how to use this digital currency.

OP, currently in the city, people are fully aware of bitcoin even the aboki suya man now knows about bitcoin what I believe is that people are just afraid of getting scammed of their hard earned resources so they do not try it and as a result of their previous experience with Ponzi schemes which brought them down to nearly square one.
Some even too are afraid of the CBN ban on banks for Crypto related transactions and hence desist from associating themselves with bitcoin or anything related to Crypto for the time being but I had to let them know about the major Claus as regards the bank ban on Crypto transaction but they insist since government don talk Dem don talk say Dem no want anything way go make efcc or other government agencies come after them.
Na so the mata take be now but I never stop talking to my friends of bitcoin and other developments as regards to bitcoin and Crypto even when I meet with new friends I do give them small time before I tell them about bitcoin. Nobody in my circle that does not know about bitcoin.

I believe sai Bitcoin no be new thing to the world and especially in this our country (Nigeria) a lot of have heard about it, but the main problem is that many of them never take their time to do further research about it, so those set of people that call Bitcoin scam or describe it with dirty words they are people that lack proper knowledge of Bitcoin and cryptocurrency generally but the truth is that is all of us that we believe in bitcoin despite even we all found truth about it.


I hardly teach people about  Bitcoin but when I teach I always make sure that I touch every part I know about Bitcoin, so i don't focus only on one particular section of Bitcoin. But the funniest part is that many nigerians are not interested to know others section of Bitcoin but only investment section because they are eager to make quick money at all means.

Baba, I no dey preach bitcoin give anyone o... everybody sabi bitcoin and based on day na bitcoin investment wey Street boys dey use cover up, I dey try dey careful o.
My advice na to introduce bitcoin to your main main guys and close relatives wey trust your judgement and the one wey go lose money and understand say na investment dem do.
So, till Nigeria stable wella, e no go too make sense to dey preach bitcoin upandan make EFCC or police no use you shine.

Ma broda I undestand, where you dey go sha, but the country don beta the way e been dey before wey people or force men dey find boys up and down, because I fit surprise you say some force men wey dey my place sef deh tell me say dem get bitcoin for their wallet but na military sha but the thing surprise me oo and the nigga understand well as in all the volatility and ups and downs of the market price. But I go agree with for the preaching part sha, as you talk am na only my close friends wey know watin sup nai I dey even reason to tell about bitcoin because most other people  dey feel say bitcoin has to with yahoo stuffs.

You are wrong; Bitcoin was created for micropayments and peer-to-peer transactions without the use of a third party; it is not an investment scheme, but rather a store of value. The price fluctuation generates some profit, but it is not an investment scheme.

Bitcoin na both currency and asset, many people dey see am as asset more than currency because of the price trend over the years, everybody won chop profit for bitcoin most especially for naija e hard to see businesses way they accept bitcoin as payment, if e dey to even see people way go gree pay with bitcoin na another wahala.

I thought as much mate because i have been able to interact with people about bitcoin and their response did not go down well at all. They had that mindset that since government has banned crypto transactions in nigeria, that it is illegal and a scam which they do not really understand the clause behind it. They have already made up their mind to see it as a scam since the government has made a pronouncement so therefore it is termed illegal in the eyes of the law which in the real sense it is not so.

Actually I don't teach but I correct, anytime wey person see me dem associates me with any of the points wey you give above, I immediately correct dem and let them know the difference. Bitcoin no be scam, no be ponzi scheme or any of those times wey you write. The thing be say e get as things go popular reach people go come associated am with that name. E just dey like as we all they call all detergents dem OMO or all seasoning cubes as Maggi. Na normal something for we Nigerian.

You no go blame dem as dem dey call Bitcoin Ponzi scheme as na wetin introduced Bitcoin mainly to Nigerians. If you remember well na after MMM Bitcoin begin reign wella wey be dat 2015/2016 time. The bull market for 2017 come make other ponzi scheme get better patronage. Secondly immediate person cashout for Bitcoin or cryptocurency in general, next thing na to show offem and e come dey be like quick money business.

Yahoo boys own na him worst pass because all of them dey claim to be Bitcoin traders or investors so when them finally catch dem e go come belike anybody wey dey talk say him be trader or investors say na the same thing wey him dey do. The best story to use na say you're a freelancer and you work and get paid in Bitcoin. No dey use that trader and investor talk because e dun cast.

I dey reason if this paddy man know him cappings. Make him no go Yan this thing for global board o or else Dem go finish am there.  One of the major reasons why Satoshi Nakamoto invented bitcoin na because of payment so that everybody fit use bitcoin do payment for goods and services wey Dem dey render but as e be, whales Dem hijacked the process at the early stage make early adopters sell their own bitcoin so that them go buy all of them as soon as them succeed am them turn am into in business parol for investment wey come make this new bitcoin generation think say bitcoin na for investment but no be so. Bitcoin na digital money wey person fit take do p2p, trade and make payment as well.

Some of you got my question wrong, definitely alot of Nigerians knows about bitcoin (like I stated before in my post) but it's a fact that most perceptive of it is either wrong or shallow. Maybe is because of the word preach that is bringing this whole confusion, the preach I use in the topic is just simply means Teach and to Teach also involves giving correction on misperception.

I never really talk about bitcoin to people often, but this ban on Cryptocurrency for Nigeria na big set back because many people still dey think say police go arrest them based on say Cryptocurrency dey illegal. They get many ways to enlighten those kind of people about bitcoin, I believe say by engaging in talks about crypto currency and also not to they shy away from question of people wey dey willing to know more, enlighten them of the benefits, risks and how to avoid much risks when investing.
Explain to them about the government regulations and how to go about am.

Creating fliers or content wet dey talk about bitcoin and posting on social media groups go also help to enlighten people wey no too know about but dey willing to invest.
 

For those within my circle of friends that are interested in bitcoin, we freely discuss bitcoin and latest crypto trends, in between our conversations I get the opportunity to correct the misconceptions they have about bitcoin, my friends are more accepting of my words and inputs because they know I’m more advanced in crypto than they are. It’s more difficult trying to get strangers to understand what bitcoin is when they don’t have a relationship with you or they are not paying for the knowledge. It usually comes off to them as a scam.

Seems we need more sensitization to our people to understand the who concepts of bitcoin, usually as said is correct but people now founds it valuable seeing the increments as it generates profits while holding, once could easily convert his fiat and decides to buy bitcoin and hold for sometimes maybe after he felts his holding are okay with him then he might decide to sell and made his profits, yet can be used as an alternative means of payment.

Omoor me I no get time to preach bitcoin to anybody again. I remember the last time I try the gist some ofy street guys way, dey close to me about bitcoin and even forum too, them just the use the talk the catch highlight. What I observed be say them dey look for fast fast cash means, cause most of them just focus on this bet9ja tin like mad believing say one day the tin go pay big figures at ones but till now nothing I don see for their lives.

Recently one of them come the remind me about the forum and bitcoin discussion I been get with am, me just look am laugh onto say him don the see how my financiql life don change at least better than before based on campaign RBS and small small trading profit on my side.

In otherwise, whetin I dey try talk be say, make your levels and the changes in your standard of living do the preaching for you cause some people na Thomas, if them no see them no go believe.

From what you posted na how many Nigerians percept bitcoin as, up till date. Em go d very hard for Nigerians mind and reasoning to clear from the wrong perception wey d don already get about bitcoin. Anyway with time, I believe sae bitcoin go clear all doubt about how Nigerians see bitcoin but still yet we get role to play in that by correcting our friends and families that perspective bitcoin as what you have posted.

Na teaching and correction wey I d do to people wey I get in contact with. I teach and correct them when they want cap rubbish about bitcoin. I no fit the in the midst of people wey d get wrong perceptive about bitcoin and I won't stand to correct them immediately. I know of many people wey I don successfully change their perception about bitcoin and they are convincing others that have wrong perception about bitcoin.

Before I join dis forum, I de think say bitcoin na business on it's own, where people de come de do business. But as I join na im I come understand say na primarily a means of  digital payment, just as we get fiat currencies, only say im get advantage, unto say di price fluctuations de generate profit, as you don rightly explain.

I believe say e de important to enlighten our loved ones about bitcoin, especially because of di misconception say government ban am for Nigeria. So if topic of discussion enter dat kind finance level, I fit take di opportunity clear dem, but if dem no show interest, no need to pressure dem. If no be say somebody clarify me about di misconception wey I get about cryptocurrency matter generally, I for no de here today.

Bitcoin has already established its ground in Nigeria, it does not need to be preached anymore before people can buy into the idea. Gone are those days when bitcoin was still in its development stage and not many people knows about it, so there was need to enlighten people about it.

Since Nigerians were able to find out that bitcoin as a means of payment and also investment is richly rewarded when traded with caution and understanding, they massively appreciated and invested in it. That lead to massive investment and use of it by Nigerians, especially the unemployed youths.

The fear of its volatile nature and the negative news attached to bitcoin globally made the government not allow banks to engage in crypto transactions. We have a new government now, and we hope the initial regulations about it will change soon.

Normal BTC don cast for the street nobody need to preach about am again like it were a decade ago. Plenty people they way they into this bitcoin for Naija buy you no go know because every body just the do am on low key make eyes no too dey on them. My own be say I no get energy to preach to anybody about am. Person wey like am gonuse him two legs Waka well to know about am just the same way I on my own gain interest about am from the time I hear am even though day I no hear am at the earlier stage.

Bitcoin have become one of the solid projects in the market, although I preferred investing all my fiat become it's a prominent project. I no say things go better when the bull season comes, now na the time to lay foundation, so that when the time come for harvest, we go smile as profitable investors. Bitcoin don teach me plenty things concerning the entire space, our own na to just study and map better entry for the market, in that way we go reduce our loss. Time no de to come de record losses anyhow for the market, we only need to make better use of every opportunity we come across, the earlier the better.

A good number of people have heard or seen posts about bitcoin online  either through pop ups or ads, but let's also consider those who live in the rural areas and are not  privileged to know or hear about it, even some peoppe that are privileged still don't have any idea about bitcoin or how to go about about it, they still think bitcoin is for the rich or a certain group of people, or have doubt about it.

 Therefore consistent education, consistent information, and sensitization, would help people to have a better knowledge about bitcoin, and also the rapid adoption of it too, let them know that the decentralisation of cryptocurrency makes it free for bitcoin to be adopted by everyone, it doesn't matter whether you're rich or poor, help them understand very well that bitcoin is not limited to only and specific peope, and that it's for everyday users, thereby making it open to students, marketers and various people of various occupation, not minding your educational background as well, all they need to know are the facts and statistics of bitcoin.

 Aslo help them understand that you don't come into the world of bitcoin with a motivate to get rich quick because it's not one of those Ponzi schemes out there, and for the market people in your area you could teach them how to use bitcoin for a quick and faster transaction saving time and cost In transactions fees.

I dey tell you. To tell people about bitcoin now dey tire person because dem dey think sae you dey tell dem something dat is not good while you are trying to help dem out. Di part we dey pain me pass na di one wey dem go tell you sae bitcoin na scam. But na few people wey dey understand bitcoin but dem no get the zeal to do am. When u tell some people dem go sae dem know am but dem no wan do am.

I swear me sef don tire to de explain am to people but if you show interest in it and come to me for better understanding i go try explain am to the best of my knowledge. Explaining to random people nowadays de vex me sef because dem go con de look you with one kind eye like say you wan scam them or you wan put them into something that is bad. I have saved myself the stress though it’s actually good to share the word bitcoin with others so everyone can know of it’s existence but we shouldn’t force anyone who does not show interest in now, I believe they will change their minds in the future.

You won't force someone to do something that you are doing, if you explain to him and is not interested on it just leave him alone, because even you they try make him understand he won't understand because is not interested on what you are telling him, some will think you are trying to scam him, since you are forcing him to do what is not having interest on. This life now most people are fearing to take risk they don't want lose there money, and you need to take risk so that you can achieve what you need, because no risk no reward. Am not stressing my self because this life no be everybody go believe you,  if am explaining the risk past to my friends, some of them will start discourage because they don't want to lose money

It is critical to understand that investing in Bitcoin, or any cryptocurrency, entails considerable risks and uncertainties. It is not an appropriate investment for everyone

You know say Nigerians dey like proof and how you do something me if I want to tell my friends to do something online or teach Dem about Bitcoin I go first learn about it and master it and no d outcome of it first den I go tell Dem about it and show Dem proof  teach Dem  it should look interested to dem

All those boys wey dey call themselves bitcoin lords are misleading the concept of bitcoin to other fellows. Bitcoin is mainly for digital payment for things you buy online. Na because of the liquidation nature of bitcoin one can use it to invest. If I dey tell person about bitcoin I dey tell am sae na for online payment currency but you fit invest in it because im dey appreciate go up so if you buy when im dey low and sell am when im dey high, u go get profit.

I have some roommates who can't trust bitcoin they think it's illegal. I introduced two boys to Bitcoin by explaining them in detail about Bitcoin, but they told me that the Nigerian government has banned it so they don't believe in bitcoin it's illegal. They consider Bitcoin a scam, but I think they still have a lot of influence in their eyes on the knowledge of Bitcoin. Although Bitcoin trading is illegal in law but in reality it is not and we use it easily all the time.
I gave them good advice about Bitcoin but they didn't accept it. They are not interested so I did not force them.

Op I hardly preach about Bitcoin because of the issues you have already stated above, is really hard to convince people to invest in Bitcoin, because people just feel it's scam once you talk about investing with money.
Another troubling issues Is that most people just feel Bitcoin is all about making profits based on how they are been told, so if they incure any loss they will blame you that introduce them to it.

If I'm to introduce any person into Bitcoin I will sincerely open up and tell them everything they need to know about Bitcoin, mostly I will concentrate in telling them Bitcoin is all about profit and loss, so if they accept they should invest, because I don't want anyone to blame me if they incure losses..

Over 100% of the time, the process of educating someone on any topic at all follows the same process;
What it is.
Concepts under it.
Causes.
Importance
(If it is a problem then we can have effects, solutions, and so on ).
The same thing applies to Bitcoin. The most important thing people look at in every topic or subject even in schools is "why is a thing important? why I'm I being taught,  how would it help me, why did it come into place". Answering these questions even makes both teaching and learning interesting.
So, when someone says "Why are you into this thing don't you know it's a Ponzi scheme?..or it's illegal... And so on, and so on, I'd say...
"Did you know that the year 2008 had the worst economic disaster in history, crumbling the world's financial and banking system? People had their homes and businesses possessed by banks cause of bad mortgage loans. Money lost its value. Just imagine an economy way worse than what we're going through in our country today, that's what happened that year.
 But thankfully, the next year, bitcoin was released by Satoshi Nakamoto, and it became a financial alternative, a savior. After that, it went on to save many other countries' economies, and you call it a get-rich-quick scheme?"
You see there are a lot of really nice stories to tell about Bitcoin, cause it has affected us POSTIVELY. I'd say that's the best way to preach or teach people about Bitcoin. Tell them a story.

I don't think there is need to preach about Bitcoin I mean here is an open platform were anybody can come and acquire knowledge about Bitcoin so going outside this platform to preach about Bitcoin is complicating yourself were as people will reason it in other way round, either seeing you as a Yahoo or someone that wants to scam them, also considering the regulation challenges faced by crypto in Nigeria and perception of most Nigerians about crypto so to me preaching Bitcoin in Nigeria is not advise able.

Preaching of Bitcoin depends on individual, but the major approach towards this is, identifying the people that have interest in it, because holding a Bitcoin asset is an individual decision and whatever risk that comes with it, is personal, so when am preaching, I make sure that I tell people the truth about investing in Bitcoin, the do and donts, I tell them that Bitcoin is not a get reach fast asset, it requires perseverance, patience, for anyone to benefit immensely in this investment, you must be prepared to hold for a long-term, whatever wave you see is part of the game, but no financial advice, any money you feel to invest with, should be personal.

Teaching bitcoin and cryptocurrency  to people either as an investment or means of payment  solely depends on the person and their interest because I believe that the usage of bitcoin is dependent on the user.
But I think of the fastest way to get peoples attention  to bitcoin  is being successful  in it because people now believe in results that theories.

In this country, I think one of the factors fighting bitcoin is scammers because bitcoin  has already been identified with scammers and the moment  you tell the average person about bitcoin,  the first thing that comes to mind is scammers  and fraud  and I wish there are possible ways we can disassociate  bitcoin  from scams and crimility.

Crypto is not legal and its not illegal  and i like am like that because once its legal there going to be a fee attached to anyone associated with it,  and with time the ban will be lifted gradually, but me personally I like the thing like this. Everybody want money, but them no them wan look the other side of the thing, everybody wan claim sharp guy but crypto no get that one oh, and na the problem be that people no they know the difference between ponzi and crypto if to say them do there own research they for know the difference. And  number four, you know say all this fraud stars they collect bitcoin from their client and them, they also tell people say them they invest in bitcoin and all na lie. And na why people they see am has fraud.