Bitcoin Forum

Na today I confirm say our oga dem at the top no sabi anything about crypto currency. When we talk about crypto currency, all dem sabi be say e nor good. And i nor go blame dem. The CBN governor don already say na crypto spoil our naija economy and with wetin dem don do to Binance and wetin dem dey plan do to P2P, i nor sure say light dey the end of this tunnel at all.

Make e nor be like say I dey talk too much, recently our customs intercept some items wey dem hand over to the Nigerian Army. Normally, all these kind news nor concern me, but na as dem mention say dem seize crypto mining machine na there I come put my ear down. Wetin burst my head wey make me talk say these people dey display their ignorance for the whole na say, the custom oga wey seize talk say, the cryptocurrency machine, him nor even talk say na mining maching , him say e fit cause damage to the economy.

I transrcibe that part:

My pipo wetin we go call this one biko nu...how crypto mining machines go fit to casue harm our Naija economy abeg?

Las las sha, dem talk say anything wey person nor understand, na so e go dey fight am.

normally, there is a high knowledge gap between most of this people at the forefront of our major agencies and what's really obtainable today. What they are just trying to do is to link the fake dollar they ceased to crypto source since they've successfully painted a narrative that the problem of this country revolves around the dollar and the best way to do it is by just talking about crypto machine without knowing how crypto works. Is there anything that's even called a crypto machine in the first place?

It's just a disgrace that they are fighting against what they know little or nothing about. If you ask that man how the supposed crypto machine will affect the economy you will know that he obviously knows nothing about cryptocurrency. How many persons in this country has even considered going into mining of Bitcoin? That's even if he is talking about mining machines. Even if it's a mining machine, is mining machine that small? If they are even wise and updated about what's happening in the county they should know that such thing isn't even feasible in a country as ours.

No be only small cryptocurrency machine that can do a lot of harm to our economy 😂
Shebi the machine corrupt pass our politician abi?

I'm not surprise, most of those custom officers are of the analogue age, a lot of them just take whatever the government says hook line and sinker without going to do research on their own, there's a narrative the CBN has painted crypto, making it seem as if is something that is absurd and can damage an economy, just imagine a situation where the custom officer is calling a hardware wallet, crypto mining machine. that tells you that he doesn't understand what crypto is all about, if not do Nigeria have the electricity to even mine crypto. The CBN is doing themselves a great disservice by running along with this negative narrative on cryptocurrency, which is why you see custom officers making a headline news of crypto mining machine which obviously means he doesn't understand what he has at hand.

How would they know about cryptocurrency since they don't develop time to study about it and what they knows is to keep banning people from using it, and also there only target is what will come into their account as taxation where by they would share among themselves.
The truth of the whole matter is that the way our country is they can't keep track records of other people incomes like knows what people does to make money and how the money is coming to their account, at this stages they believed that lots of youths are into cryptocurrency and by this they don't longer control them with what they had and they are looking for a way to stop people from having that access without them paying tax and without them benefiting from it.

Either he is an educated illiterate or he has plans with Tinubu, did something hidden while using cryptocurrencies to lie to people as the cause of the poor economy.

You know it is an atomic bomb.

Let us still not mind his ignorance. CBN governor is the one to blame. He is the cause of everything. I have never seen a man as worse as that man.

Both the government and the CBN government them no know watin them dey talk because how somebody go just wake up one day then talk say nah crypto currency nai spoil this our country economy? The story no clear even for small pikin ear. But watin I know be say as long as say Nigeria is concern, as any new government enter seat nah so the country go dey worst dey go, so our own nah to dey pray say make we just get something doing so that we no go dey too affected if the country worst pass like this.

Ignorance bad well well, and I pray make nature no allow us dey ignorant about advancement in the world and the driving forces behind those advancement in the society.

At first when I read about this news for the morning and seeing how those custom officers no fit differentiate between crypto mining machine and cryptocurrency machine I just had to laugh at their ignorance. Some headlines even referred it to as cryptocurrency POS machines  ;D.

At least it's getting clearer now that the government the fight cryptocurrency  out of ignorance about how this digital currency fit make profit for them if they create enabling environment for the digital currency exist. It's like we need take these out government officials make them go take some lectures from El Salvador government to help create knowledge about crypto particularly bitcoin for them.

It is only the ICT ministry or department dey understand small about cryptocurrency and any other side na shit. The CBN governor nai be the worst. If to say the CBN governor understand cryptocurrency him for put policies wey for make people to use cryptocurrency with fear and tremble. From the beginning when I see the fight Nigerian government dey fight against these exchanges na ignorant. As for me if they really understand this crypto of a thing they would have benefited from it more. But not w that they are fighting to remove p2p from the exchanges, Nigeria youth go launched another decentralized exchanges to do the trading with p2p and na their their eyes go open.

Custom officers don't know anything and they are just there seizing things that they don't even know about. I don't blame them because they re just secondary school leavers. O, level certificate owners are there in the custom service.

Em d unfortunate sae, our government d busy d pursue shadows, leaving the main matter on ground on our to save our economy by encouraging and supporting Nigeria's in the production and use of locally made products more, than imported goods, and reduce the high cost of fuel.

Getting the mentioned things done, will go along way to boost our economy than pursuing crypto wey no do them anything other than being source of income to many Nigerians.

At times, I d wonder of who do our government this kind of thing to be reasoning like people wey no d live in this modern age of digital era than analog era.

It is so shameful to learn that, the reason why our government the fight crypto na because to them, they believe sae na crypto the spoil our economy. Our CBN governor come admit to that, come even say it opening without first understanding the concept of crypto, and why is it in existence. However, I no get much thing to say, since any top position for this country on be by merit, but rather na by personal relationship a ruling government get with the person them choose to appoint. Na why incompetence ruling full for this our country for our every sector

I watch the video earlier today and I bin laugh no be small, this awa ogas on top no sabi anything. The custom officer dey refer to hardware wallet as crypto machine and that e go spoil di economy. Lol, these guys are retarded. Dem also seize some drones hand dem over to the nigerian army. Haba... DJI aerial drone wey person order to take run him photography/videography business naim dem seize say na military drones wey terrorists dey use am. These men just dey display their ignorance to the whole world, dem think say we dey stone age.

Wetin we no see for Naija.Dem no know wetin dey damage the economy if not dem for tackle am dem for no carry the anger con face p2p exchanges.E get wetin pipo dey talk say wetin you no know big pass you e just dey similar to dis scenario dem no know mining machine nai make dem dey say na mining machine nai dey damage the economy, economy wey na the leaders for de top dey damage with their poor leadership.My own be say na the CBN governor dat man dey educated but dey behave like illerate all because e no dey exposed to technological advancement.

With the way things Dey go for the nation, government Dey fine means way be say, them go try revive the naira and them no Dey leave many options on the table. Any option way them just think say, them no dey benefit from or dey sense say e go bring wahala, them don put am up for case study.

Now the idea be say, this thing no Dey backed by them nor any other government around the world to Dey spend am on goods and services locally and international and as such, exchanging cryptocurrency for naira Dey polarize the currency and the result na em ne inflation.

Watin them forget be say, this idea Dey back of the world. Them forget how value is transferred, like collectors.
Mean while, this cryptocurrency thing Dey help several persons and their families, them no Dey imagine the many wahala way them go create if these people no Dey meet up the demands of them and families. These guys no Dey do proper consideration, them dey take steps without proper research.

Make una nor mind this people. Them know wetin them dey do. Anytime you see government dey hammer matter like this just know say na distraction na them dey try do so. Something dey sup wey we nor know and e nor concern cryptocurrency. Even this whole naira palava be like fiasco, very soon them go blame crypto say na him dey affect our production rate for we country.

So dem wan blame this one too for the economy wey na dem dey spoil.

Na because say we sabi laugh them nai dey make rules wey dey tight the Nigerian youths, but these people dey mess up too much, they feel say because dem dey older, dem get knowledge about everything, including the new techs wey dey now. Whenever I hear these people speak and see some of their actions, I always know that they are highly ignorant and make most of their decisions from a place of ignorance and wickedness.

Sometimes I dey ask myself how we take reach the point wey be say na the dullest and worst set of people wey dey for position of power for our country. As if them settle down. Select all the block heads come put them for power. The one wey dey pain me be say these people claim say them go school yet they no fit do small research for anything wey them no understand. How human being go talk say crypto dey harm our economy? Why e go be only our economy cryptocurrency go harm and not other people economy? This one dey show say the people we claim say them go school no really know wetin the world dey talk.


Them use muscle collect power yet them no know how to rule. See as them scatter everywhere, putting 133 million people onto adject poverty out of 200 million wey we be for our country.Na God go really help us for this country.

Na exactly wetin happen be that. We nor dey appoint people to public offices based on competency and merits but based on rewards and godfatherism. I even dey reason say, if them fit dey talk this kind thing for public wetin Dem go talk for their offices. Na this kind people wey be say once you mention Bitcoin, Dem don label you as a criminal. Who go help us for this country?

I don laugh tire no be small.
Illiteracy is a disease truly and our own leaders do so well to show how illiterate they are by opening their big mouths to say things that they have no proper understanding of.
So far the crypto saga has been all about money and  instead they find a way to emulate countries that have adopted and opted to regulate it to their betterment, they keep poking holes at the P2p idea and exchanges and seek ways to annul the good of cryptocurrency.

Had it been it was said that the Crypto mining machines would do more harm to the society, in that the electricity demand would cause a steady rise in tarrifs, it would have been better than to blame machines on the economic failure of the country and past leadership.

It's just so appalling that in this modern century we still struggle with old leaders who have done nothing to develop their mindset and keep abreast with advancement that could help grow the economy both in the micro and macro sense.

I totally disagree with the government on this one. The adaptation of cryptocurrency in Nigeria has only led to low corruption. Thinks like cultism, kidnapping and other forms of corruption in the country has reduced because of the youth has choose to be either a cryptocurrency trader, investor or earners in the system.

Maybe the government are afraid that the youth at an early age can be able to afford good cars, houses, shop luxurious things and big business which they are not happy about. That is why they are looking for all means to shutdown how we make a living.

This doesn't concern the government one bit. Their fear is that if most of the youth are well to do, they have little to no concern about what the government wants or expect of them. I know of a government personnel whose name I won't be mentioning that was happy to see plenty of people increasing Nigerian mothers line up at his resistance to get free cups of rice. That right there is something the government likes. Since the emergence of crypto, nobody cares about fixed deposit at banks any longer or take part in any of the investment schemes offered by banks because the returns are lower considerably other alternatives.

Government wants everyone to be nice and compliant and crypto doesn't allow that.

You know one thing @Charles-Time, when the government don't know what to do they try to forge some news to make it looks real when they are indirectly looting our money, okay what is causing our economy hardship?
Where are those money in circulation going and why there is so much hardship, normally when currency at hand is circulating well there will be less hardship rather those people had gone to hodl our Naira and making things difficult for people over here. How can a consuming nation developed economically while importation rate is high and yet cryptocurrency is not the cause of high importation rate in the country rather is fault of the government to set up the country properly instead to do that they kept chasing shadows at night.

Yes governance and government na business and the business flow through people wey dem dey rule and their money. If we watch if government reduce withdrawal limit for bank e no dey matter for so many people now because of cryptocurrency and also bank apps. For government to function properly dem need patronage and that patronage must be in physical cash, so if dem allow everything go digital then their relevance go fade and it is drastically fading self because I have long heard of people looking for government jobs these days self unlike before when people dey scrabble for government white collar jobs. Now, after graduation corper don stay their rent shop dey do one thing or the other while looking at traveling out.

So, government will keep struggling to fight the adoption of cryptocurrency fully. They don't want banks to be limited in their functions because that will also affect fiat, making the whole system into digital will be difficult. Therefore, if a government official doesn't understand cryptocurrency it doesn't really mean they can't learn but they don't like the freedom that comes with it on the side of the masses.

When I dey talk am say our leaders dey only talk waiting don comot for line and their reasoning to development dey far from them base on how they reason person fit see me as working against government if our leaders they reason well all the human capital development wey don fall and the investment wey them don loot money no fall economy unemployment everywhere, refinery not working this is a clear show say now kakistocracy now our government be people with least knowledge in leadership.

If the world leaders never see crypto as what is spoiling the world economy I don't think say our government dey reason well for this their matter, crypto currency don go beyond where one country go come out to stop our government no dey make use of opportunities that's why every sector dey get leakage until we join  moving train nothing go work.