Bitcoin Forum

We have seen how and where the governments are heading with how they are treating cryptocurrency exchanges. If this industry could make a living for the youths and our leaders a clamping down on it for whatever reasons they may have and we can see that it where technology is heading, what do you think will become of it in the future, won't they ban it totally? And people who are moderators and crypto ambassadors, tech guys developers, how will they survive, can people coming behind still make crypto a career.

I believe in bitcoin because it's a decentralized currency and I'm in a self custodian of my funds so, there's no fear in me as long my transactions are executed in this very bitcoin blockchain, I believe my assets are secured.
The governments has been throwing trashes in the technology probably with the intense that enthusiasts may have doubts on it and then back off from adopting it but yet, there're being more adoptors embracing the technology of Crypto currencies.
Before the day bitcoin was developed, we've been surviving and if paraventurely it gets ban in our country, we'd still alternate our survival because we've been thought tough ful lessons while in this same country so then, we are always born survival and if you think having bitcoin or other cryptocurrencies for an assets for you either you're trading, mining or investing and it's profiting you so well, you can also decide to migrate out of the country but if the difficulty is about exchange, we can always overcome it by transacting on the non custodial networks or you can have a third party you can transact your crypto assets with and then then person can trade either in other currency for you and forward back to you then you can only exchange the foreign currency as fiat to naira.
There's always away to stay unworried about how the governments are trying to suffocate crypto adoptors in the country despites it's profitable potentials that the government is ought to encourage the masses more on its adoption.

The truth is we don't know the future, we don't know if the government well totally ban crypto currency or not but I know that crypto currency is not owned by any government and crypto currency (Bitcoin ) is anonymous but it's transactions are transparent. Government can't ban it totally, just in Nigeria we know how hard government have been manipulating crypto currency users (Bitcoiners) but still we are doing Bitcoin, investing, trading and some people are using it to gamble. No body can tell what will happen in future but we know that government can only manipulate Bitcoiner but can't short down Bitcoin because it's uncontrollable, the price keeps fluctuating and this is what makes the government more scared about crypto currency.

No allow what d government is doing to stop people not to have access to crypto exchange, make u feel dey can succeed at d end because crypto don go round d world to over power d government for stopping their people not to make use of crypto exchange in d country.

Despite what government did recently to stop binance exchange in d country, it make many people to discovered many exchange were dey can buy and sell crypto in d country and is making people to show more  interest in crypto in d country, because naija people no how favourable d crypto business is to those that invest their money in crypto. Government has banned BTC and crypto in d country, but it will be difficult for them to banned all d exchange platform in d country because it will increase d hardship in d country, and that is were some politicians, students, civil servants and non  civil servants use to earn what is putting food on their table today which dey will not allow d government to ban all d exchange platform in d country.

Bitcoin and crypto in general is not a Nigerian brainchild, Nigeria is just one of the adoptors globally and while we might have witnessed a little show of restrictions in Nigeria, other countries and big firms are still adopting and investing far more than what we are holding. Even if we witness a total clampdown on all the exchange that are operational in Nigeria which in the real sense is an impossible scenario, it wouldn't mean that Bitcoin will go extinct due to such event. Exchange is only a big deal because of individuals that actively carry out daily or regular trading of thier Bitcoin and would need those exchange to carry out those kind of transactions. For those that are long term holders and that aren't storing thier Bitcoin in an exchange, I doubt it makes any big deal whatever regulation the government is putting up with in Thier plan to clamp down some exchange.

In addition to this, note that the digital sector has gone to broad to the extent that a single action from the government can't totally eliminate people from making use of such a sector. At the time when the naira was delisted from Binance and some major exchanges, how long did it take before an alternative option sprang up? Even outside of crypto, most of our youth are still into forex trading, UI/UX design, content creation, and a whole lot of digital activity that's fetching them some Cash. If regulations get too tough on a sector, it might just take some time for things to calm down and then go back to normal but it's gone past that stage when a single government regular can cause an overwhelming threat to the existence of crypto globally.

Why is the government so obsessed with banning the cryptocurrencies. Are they doing this because they are ignorant of the benefits which come with the new decentralized currency, or because of its anonymity in nature yet transparency in transactions or because it is likely to move people's attention away from the centralized system controlled by the government?

With the lack of trusts on the government and how unpredictable the future dey for the cryptocurrency, e supposed give us more reason why we need to diversify our source of earning and how we go utilize the current opportunity we acquired now and before before because tomorrow no too sure but only when you set out paths well we fit relax without panic when things go astray on the crytop industry.
We need to understand say people way no dey do crypto still dey survive so no be say our own destiny dey tied for the crypto if we must live good life. Na just say Crypto na one of the sources to fit help us make the better life.

They can't ban cryptocurrency they can only restrict it. It is difficult to comprehend the approach the government can take on cryptocurrency. However, a complete ban is unlikely but regulations on cryptocurrency can be expected. It has happened and gone cool, it and still happen again and that is why we need to watch out for it. The reasons for the regulations are more likely to be based on money laundering, tax evasion, financial stability and anything other than this is a personal reason which means a strategy for money embezzlement. However, if embezzlement is the plan, then they will tag it under any of those concerns mentioned.

Omo make you no discourage yourself oo about crypto matter for naija or any other place for the world self. In fact if you want to learn anything concerning crypto or blockchain make you better put your body and soul inside am oo and learn am well well. You don already talk am say na technology the world dey head to so nothing fit stop that frequency and wave now. Government no fit stop am because people go still use VPN access wetin dem want access, na only restrictions dem fit do and na how long dem fit hold on to that self. The mining stuff wey dey go on self wey dey make telegram dey relevant now self go tell you say more people don jump in. Even naija government don dey reconsider how dem dey run follow exchange owners and agents because dem don see say dem no fit stop am like dem dey feel say na that one dey cause Naira to fall. Dem self don see say no ojoro for there.

Bitcoin is here is to stay and I don't know how others believe  or see the whole scenario but what I know is that, bitcoin is here to stay.
As a true believer, there is no need for doubt or panic but rather see greater opportunities in a dip to buy and accumulate more of bitcoin, I understand that it seems that the government is fighting cryptocurrency in the country,  but the truth is that, they also want to have their own fair bite of the process and since bitcoin and cryptocurrency in general, has the ability to appreciate, then taxing it isn't a bad idea but the taxes aren't used for it'd right purposes which is the problem and nit outright the taxing on it.

I get your point bro but I wan correct one impression say no ne about diversifying income but na to put am for the right thing as well na e also matter and your talk be like that of person wey no get full believe in bitcoin because a person like me, already believe day even if bitcoin go I no sure say na when I still dey try to figure them out but rather when I fit count my blessings through it (I believe you already know wetin I mean.)

Bitcoin don come to stay, and bitcoin don already already prove this fact more than three times because at everything, e drop, people dey always expect am to come back stronger and better and e never fail.

Whatever the case might be, I'm not actually into the technicalities of bitcoin but I no see bitcoin going anytime soon but I believe we go get something better if bitcoin goes

Yes, people will still survive if in the future crypto is been banned, but however, I don't think this is going to happen anytime soon, because it's obvious what our government are fighting for is a share of the revenue been generating by this exchanges from Nigeria, of which recently, there is a current partnership with Nigerian government and Crypto exchanges, whereby a certain percentage generated from transactions fees will be apportion to the Federal government.

The administration no go last forever, dem go do their own finish and go. I believe the other adminstration go different from this one so all hopes aren't lost. The country gets very vibrant youths and no matter wetin the government dey do e no go kill our spirits. People wey dey the space dun see how crypto dun benefit the youth more positively than in a bad way so we no go stop just because the governments no like am. Things can always turn around so make we no lose faith and continue to dey believe because na Bitcoin or nothing. Blockchain technology has come to stay, Nigerian as citizen always find way to survive so make we just dey hope for the best.

I still feel the government will make a U turn later when they discover it wasn't crypto that was the main cause affecting the dollar because me still believe say dollar go still rise back. E dey stabilized around 1,500 +/- but soon we go see the price rise to close to 2k Naira unless the government do something serious about the economy of the country. Dem no go just implement policies without backing and expect the thing to hold on forever. Crypto sha was contributing but it wasn't necessary the reason the dollar was getting too expensive.

Cryptocurrency and Blockchain technology goes beyond the shores of Nigeria, and they are international businesses so no country has a monopoly of them or can stop them, they can only restrict them in their countries. The Nigerian government can not overlook the importance and advantages that cryptocurrency and Blockchain technology has brought into this country, how it has engaged Nigerians especially the youths in providing self employments that is reducing the unemployment rate in the country. I don't think that our government will go as far as banning cryptocurrency in this country, because of the great impact that it is having in the country. Nigerians are among the fastest people that are adopting cryptocurrency and our government is aware of this fact so it will be an act of irresponsibility for them to tamper what is benefiting their citizens, rather they can regulate the sector as they are planning to do.

OP, if you have not started your journey already, then you are on long thing, know one should be discouraged to abandone this investment because of our government policies, with or without our government Bitcoin and other crypto has come to stay, I want you to understand that we are in the tech era, innovations can not just vanish but they can be modified to get the interest of more investors in the system, I believe that you know that Bitcoin is a large technology of its own and aside the investment aspect it is also used to give solutions to highly mathematical problems, as for our government going after exchanges when they are supposed to figure out ways to tax them so that they can do their business and continue generating tax for the government, I think our problem in thus country is leadership, although we do selections here not election, if we really do election in this country it will be very difficult for the calibers of leaders that we have to get into any form of political office, i think this is a story for another day.

Op you should be futuristic and optimistic at all time, I so much Believe in Bitcoin and if you do the same you will not be shivering or in panic mood to know what the future holds for crypto enthusias although it is also good to know what the future will look like for crypto enthusiasts but for me I know that the future is bright for us all and I believe that with time, the government with a renewed mindset of digitalization will come into power and everything will be in place as we all expect it to be, so for now op, i encourage you to start doing the needful if you haven't started already to avoid regret.

Banning of  cryptocurrency in the country or not,will not have effect on Bitcoinners at all, it is cryptocurrency that is ban and the  exchange is not available on Nigeria's platform,that is not an issue as long as dollar still exist, your cryptocurrency can be converted to dollar and the back to naira ,or can be changed to any accepted currency in the country, before changing to naira,in that way Bitcoin still countinues in the country, without being approved or has been ban in the country. The only thing is that cryptocurrency (Bitcoin), can't be discussed or introduced freely because , you don't know who is who to be trusted.
I love Bitcoin  blockchain because of its transparency and autonomy and it can be converted to any currency of your choice or used to purchase online.

I will strongly believe in Blockchain for the fact that the system is decentralized.If the Blockchain network wasn't in a decentralized form then the government would have looked for a way to ban it in Nigeria but that's impossible,they can only manipulate centralized exchanges because exchanges are highly regulated.No one can predict the future of crypto and Bitcoin, what I believe is Bitcoin has come to stay.I love the fact that no matter the oppositions from the government toward exchanges the rate of crypto and Bitcoin transaction keeps growing on a daily basis,so it's clear to every enthusiast that their fight/efforts have no result.My advise to every crypto/Bitcoin enthusiast is to keep buying, selling and trading Bitcoin no matter the threats,Nigeria government na only gra gra dem sabi,gra gra without wisdom na trash.

Nigeria government never like and support what benefits the citizens without their own control, they always want to control over all because that is their power. Whatever the government wants or trying to stop in Nigeria is something worth getting. They will try as much as they could to tarnish the name of crypto but won't be possible because it's already penetrated the control system to the least Nigerians.

Everyone needs to take a chill pill. In hindsight, it's very clear that government won't be able to stop Bitcoin / Blockchain / Crypto. If it were possible, the United States which is the most powerful government in the world would have stopped it but instead, we have a Bitcoin ETF in the US and the biggest Wallstreet players can now legally buy bitcoin without problems.

Even if shit hits the fan, the government can only tax crypto. They can't ban it completely. China is one of the most censored countries and they banned bitcoin for years, yet their citizens are actively participating in it and now their government is considering making a U-turn.

I will leave this for reference:

How Chinese traders and miners get around China’s crypto ban: https://cointelegraph.com/magazine/china-crypto-ban-investors/

Wetin I know be sae, whatever law wey our government try to implement against crypto trading in Nigeria, Nigerians go found other means for crypto to keep excelling in Nigeria. We have seen that happen during the Bihari government when a ban was placed on banks from trading crypto. Nigeria's found means to trade crypto, still top the world global index as country wey the trade crypto pass. In this Tinubu government, Nigerians are still trading their crypto assets despite the ban on top exchange.

This na to tell you, no matter the new law wey any government bring come against crypto, Nigeria go prove to the government in letting them know that crypto is unstoppable by any government.

In a nutshell of everything, our government can't stop our shine from utilizing the financial freedom Bitcoin brings to us and the whole world, no matter how d try

You dun talk everything, they do this because they know say dem go need the vote from us in the returning elections so if we dey do well, we no go reason them again (na so them dey think) not knowing that if they do us wrll, we go always remember them because na for their own time na when we see food chop and we go always want that to happen. Why e dey belike anybody wey get money no dey reason government again na because say no be dem wey help us see front. Na we help ourselves and this thing they pain man. If the government do better, we go always give them back power.


For this matter self, the centralized exchanges no try because how dem go allow government of a jurisdiction wey dem no dey operate to boss them around anyhow. Abi dem no know how much wey dem dey lose because say people no dey use their exchange again. Na only Binance self fit comfortably commot Naira from their P2P exchange and e no go affect their volume but other exchange go feel am as if not for the P2P wey dem dey offer, Nigerians no go dey use their exchange like that from this region but anyhow sha it was all for the good as we go find way survive as we always do.

Whether the government ban crypto or not ,it has nothing to do with people that are involve in Bitcoin. In fact from my observation our government has no accepted block chain or cryptocurrency, it is what you are doing that you can decide to stop,and yet look at the numbers of people involved in it ,my friend life continues,the government has nothing to offer ,and we are hustler looking for means to survive, except there is no network in the country or it is being removed from the airspace that is when you should be boarded,as long as there is network ,crypto and blockchain continue nobody can stop it, the only thing the government can do is to ban all the exchanges from functioning, which will now lead the users to adopt another methods of transaction,by passing through Dollars, Pounds or any other convenient currency of your choice,then convert to your local currency.
Our country does not accept cryptocurrency and so you and I into it is just a secret and we are very careful about it , therefore don't think towards that direction just be focus.

Cryptocurrency is and the industry is already helping the youths make a living everywhere, most especially our country because it's very evident that it's involvement is the hope of an average youth recently and not white collar jobs anymore.

The government wouldn't ban exchanges totally, but they would always fight it because they want to control everything and whatever they don't have total control over, they fight and tax greatly tho get a lion share from it's proceeds and that's why some exchanges are discontinuing services to Nigerians.

Crypto world is still evolving and any good innovation is always faced with challenges in the early days, until it stabilizes. If crypto was a bad one, government could've wiped it out a long time ago, but things will continue getting better with time as the Crypto industry keeps reaching better maturity and standardized in the nearest future

I was strolling through my X feed and timeline and I saw some statistics of Nigerians that participated in Dogs airdrop and I was shock that Nigerian population was more 30% from those figures, I'm not sure how genuine that data were but we seem to be everywhere right now in crypto space, everyone here now want to be part of crypto and all is because the government has failed to help people in their own way of job of opportunities for the masses.

Just yesterday, I saw a news on Nairametrics about Nigeria Security exchange commission trying to work with the crypto space and trying to regulate the space by September which is next month and all I say that the Nigerian government is greedy and doesn't care about anyone but only themselves. They seems to have started collecting tax from Kucoin, maybe they will spread that very soon to other exchanges for their own benefits. They don't know anything than tax and tax.

Any where way government follow to stop us from doing cryptocurrency transactions though exchange we go most get another alternative. when our government bad Binance, kucoin, OkX, for doing p2p because that is the more popular exchange where Nigeria used to convert there coin Usdt to naira, and they bad it for doing Nigeria p2p but still we still have many exchange that you can swap your coin. So anything that government try to do definitely we will still have another alternative. Since we lack job opportunity in the country, and the youth are managing to invest in bitcoin to be getting profits to manage there self, but nothing government go do is to stop them from getting money no be wickedness be that.

If not that they is coin that call bitcoin exist we for no no where we dey for this country now because na him they support us and nothing go happen since the government don't just get access to it na to just stop the transactions for the country and we get many alternative where we go dey used to survive so I no too dey worry my self on government matters as fact that bitcoin still dey and we get the opportunity they buy am they get profit, anything where the government go talk i no dey think anything again. And I notice that how government they put body for crypto matter, na so the population of people they increase for knowing more about bitcoin and investment.

The Nigerian population is growing every hour within the cryptocurrency space. This numbere have seen a significant increase after some Nigerians benefited from the Notcoin airdrop. Many Nigerians who participated in the airdrop actually enjoyed the results they had making crypto space see a substantial growth within a short period of time. Just in our neighborhood, you can attest to how popular the airdrop community have grown. Almost every young person with smartphones are participating in airdrops.


Government are the least to be trusted in all of this. They're still uncertain about their position on cryptocurrencies, today they ban, tomorrow they lift, next tomorrow they make announcement of restrictions and so on. People within the crypto must move on away from the government's inconsistency and work ways to build a stronger crypto community. This is the way to go.

I think it'd be best we stop worrying about the government decisions on cryptocurrencies. Even if the government has plans of banning cryptocurrency, it won't be carried out anytime soon. Besides their decisions concerning crypto are usually inconsistent.

Instead, we should focus on how to utilize Bitcoin individually and societally, to the fullest. I believe in the Blockchain technology and cryptocurrency. I believe, if we use it properly, we'd be able to not only save ourselves, but gradually save our country. 

No need to worry about the tech guys and big crypto whales because cryptocurrency is here to stay and it’s going no where despite several attempts by the government.
I think it’s worth mentioning that, cryptocurrencies are supposed to be decentralized just like bitcoin and I don’t think anyone holding bitcoin should be afraid of what the government thinks about it because there will always be ways to trade and exchange of coins and at this stage of crypto growth in the country, I think it will be very difficult for the government to win the fight against crypto but rather they’re already seeking ways to tax and earn from the process and that’s the worst they can even do for now.

Fear not about the government and keep accumulating as much as you can.
Goodluck

Bitcoin and cryptocurrency entirely, to my point of view, has passed this very stage where we will be thinking that it's going to get banned some day by the government, it's the future of money and investment opportunity of our time. And if you aren't aware, note that Bitcoin and Crypto has graduated from that individual adoption stage to institutional level of adoption which is the highest level of adoption we can think of.
It isn't wrong for you to think about it this way, but the likelihood of Bitcoin and cryptos to get banned has drastically reduced to its lowest level as to compared to when it was just a starting up project, A decade plus existential of Bitcoin isn't a child's play.

What the government is doing with cryptocurrency i don’t think they can fully stop everyone from using it although they can make life more difficult for us crypto users but it doesn’t mean that we should give up on what we are doing. The government is pained that they are not in control of the money going into crypto and that’s why they are accusing crypto investors and traders about the Naira/Dollar crashing just so they can put an end to cryptocurrency in the country.

Banning it totally would be very difficult and even so people will still find a way to go about it and still make use of cryptocurrency.

Bitcoin and the Blockchain technology are globalized and decentralized so any negative decisions that the Nigerian government might take against it will only have effect in the country, it won't disturb people in other countries. We should understand that government can regulate crypto transactions in exchanges and through Banks but p2p transactions between two parties remains decentralized and they will enjoy privacy and freedom in their transactions. These are the strong reasons like I mentioned why Bitcoin and Blockchain technology can not be taken away from Bitcoin holders by any government. A total crypto ban in Nigeria, will affect cryptocurrency transactions through exchanges like trading, but I sincerely hope that it will not escalate to that extent where there will be total ban on cryptocurrency in Nigeria.

We are heading to the future of digital currency, so I don't think the government will ban crypto

The government has been clamping down on crypto space in Nigeria for long and still people have been able to navigate through it and still making it through crypto. So whatever the government decides to do tomorrow won't still change anything. Those that are determined to make a career in bitcoin can still do that. Just to let you know that Tech guys are not just people that deal on crypto currencies. Tech guys varies, there are those that are into app development for companies, and start up. Cyber security, UX and UI, ICT. These people are paid weekly or monthly salary by their employers. They don't depends on crypto to make a living.

If they can they would have ban it,it's just that they have no power to influence or control it somehow and I think they been trying to work towards that towards the impose of tax and likes but it cannot be as having to control it.
Thus,With the advancement in technology,it's even making it harder for them to get what they want out of it. Recently, there was a issue raised  about Bitcoin minning using and consuming more Energy maybe in form of GREY leading to global warming  but with technology clean energy has been brought up which counters their statement  so IMO I don't think crypto is going anywhere :)