Bitcoin Forum

There are some set of people who still see Bitcoin as a Ponzi scheme here in our country Nigeria, they believe that the same way MMM, CBEX and others crash that is the same way Bitcoin will one day crash.
Some say anything that involves putting money online dem no dey put their hand.
the other day I was in a football field some people where discussing how Bitcoin is been accepted by some nations and states and how they are even investing on it and one of them said and I quote "those countries and state are making the biggest mistake of there life that Bitcoin will soon crash"

I think the reason why this set of people are still thinking this way is because they have not done their research about what Bitcoin is all about, they just believe since it is something we use money to invest in online, then is Ponzi scheme.

Anything you really don't know do research about it before giving your concussion so people won't see you as a fool or you won't end up losing a life time changing opportunity.

Truly doing research really helps in  increasing your knowledge about something, just that most of us just dy lazy to do so, sometimes most people no even know how to start, if you tell them to do their own research because them no too dy conversant with internet stuff.
You see those guys way make that statement about Bitcoin,  if you check well you go see say person don use the name of Bitcoin scam person wey them know before, so anytime them hear about Bitcoin, them go think say na one of those ponzi scheme out there, but take note that people like that no dy much again, because Nigerians now especially the youth, we dy really informed, but anyhow Sha doing research na one thing wey go really save us a lot if we take an as a must do, before we enter anything we intend putting our gard earned money on.

op not this topic again, honestly this topic has been discussed severally and analysis intensively that your post is very basic compared to the many post on this topic already made in the forum.

Good a thing you talked about research because if anyone wants information concerning this they can research on it and get well detailed thread from this forum.

You did well to have involved in such discussions with them because to me I don't really exchange words with anyone out there, and if they all believed that Bitcoin is scam then to hell with them. I am no longer pleasing anyone out there to know anything about Bitcoin and I believe with time they would definitely regret of not seizing that opportunity to venture into Bitcoin on time than just criticizing Bitcoin how it would scam people in time coming, though you are right and they don't know anything about Bitcoin so they are free to say whatever they want towards Bitcoin but believe me or not in the next decades there would be people who will be crying for wasting their time for nothing and not investing on time.

I have not come across this topic thread in our local board before and if you have come across it in Nigeria local board do well to share the link of the post.
This is Nigeria local board and this discussion is directly related to our Nigeria society.

If the thread is not interesting to you maybe because you have seen a similar thread outside the Nigeria local board good for you and all you would have done is pass.

This is a discussion that will help us when we come across people with this mindset that is discussed, we all know that because of a lot of Ponzi scheme that has been in our nation Nigeria and it has affected a lot of people some now see Bitcoin as a Ponzi scheme since when discussing or sharing Bitcoin idea with them you tell them to invest with there money and then hold for some time in other to make profit and this is similar what this Ponzi scheme people tell them.

And BIT-BENDER this is a thread for discussion and sharing of ideas that concerns our Nigeria society, I believe all of us here have some knowledge about Bitcoin.

Anything that concerns scams hacks and basically anything security be it for assets or your personal data is something I entertain every single time the reason is even if the topic is raised multiple times you can't directly call it spam since it serves as a reminder for those that may be careless and eventually fall for them.

The sum of it all is pretty simple run from anything that looks too good to be true. Invest X amount and referrals or complete tasks to earn money and withdraw xx:xx:XX are all MLM scams they wrap people in an endless chain circulating a token and siphoning the rest.

Mindset is everything, and if you don't crave knowledge, you will just be controlled by your mindset. The understanding that people have towards Bitcoin will determine their interest in it. Ignorance has been a serious problem for people criticizing what they do not know about, instead of doing some research to understand what Bitcoin is all about.

This ignorance about Bitcoin has made many people disinterested, and after a long time, when they finally understand what Bitcoin is, they regret their ignorance. Ignorance will always set one back; that is why it is important for people to have the zeal to seek knowledge. What you don't know will always have a different meaning to you, which can lead one to miss a very good opportunity.

Hope you were able to talked to those people who were speaking ignorantly about bitcoin this same thing you are telling us? Because I think they need it more than us here. As majority of us here are quite familiar and knowledgeable about these things.

There is no reason to defend Bitcoin, people are smart enough to look up Bitcoin if they don't understand the theory. If someone drops a negative review about Bitcoin, that means he already researched and have an idea about Bitcoin, which is the reason he refuses to accept that Bitcoin is worth investing.

Humans aren't the same and what looks approachable isn't to the next person. We have to remain Bitcoin enthusiasts while knowing that not everyone will accept Bitcoin, even for decades to come.

This kind set of people are the kind people wey be say dem know know about something and dey no go still do research about it, they use their brain to decide about something just like that. People seeing bitcoin as Ponzi scheme dey deceive their self alot, because they don’t know how it works and dem no wan know how e dey work.
Comparing bitcoin and scam projects like CBEX,MMM and other is really showing how ignorant that set of people are because comparing those stuff is jus sounding stupid.

That mindset that say investing in online stuffs are Ponzi scheme is the mindset that makes many Nigerians not benefiting from online investment at their earliest state and that is why most of them go find it hard to earn from online stuffs because of such mindset.

Some of them don't know Jack about Bitcoin but they are very loud about their ignorance and are ready to argue from now till thy kingdom, once I noticed you as one of those set of persons, I don't argue with Them, because diagnose have allowed them not to accept new ideas and research for anything they don't know.

Trust me, a lot of them knew that CBEX was a Ponzi scheme, they all just wanted to grow their account to a setting amount then cash out, if it's not a Ponzi scheme tell me, what kind of business would you invest your money in and within a short period of time you have so much huge return in investment, they all knew the dangers of what they were involved in.

It was a surprise when I saw people putting their hard-earned money in MMM again after the crash of CBEX, and this shows that Nigerians will not stop wasting their money on all these Ponzi schemes. Even if 100 of this Ponzi scheme come, Nigerians will continue to be one of their victims. There are many things out there to put money into and get a profit with, but the money they did not choose to invest in the Ponzi scheme.  I will advise you not to argue with them about Bitcoin.

However, those ones who said Bitcoin will crash just their Ponzi scheme crash show that they do not even have a little bit of knowledge about how Bitcoin works. These types of people will always find it very difficult to believe in Bitcoin because they are used to putting in 100 naira and collecting 150 naira, and the funniest part is the money they do give them weekly or daily; good investments don’t need that kind of money so that people will be profitable at the end. But this one always does not want that; they prefer collecting part of their investment every day or week.

Yes sir you are right researching is a very good sign. Because if you want to do something then there is nothing wrong in doing research on that subject. You have to spend some time researching if you do that then you will get to know a lot of things and it will help you understand whether you are taking the right path or the wrong path. It is better to do research before committing to anything.

Wen u research about a new project u come across, it will give u a clear understanding of d project before putting or investing money on d project. U will not blame some of d naija people who don't want to no bitcoin or invest in bitcoin op, some of dem have lost a lot of money on online investment that is making dem not to go into research on any online investment, but if dey can try to carry out a research about first cryptocurrency, I think it will improve dem to start developing positive mindset towards bitcoin.

People can say whatever they like about bitcoin but the truth is Bitcoin has come to stay. besides no be today wey people don they criticize Bitcoin as ponzi scheme,infact de way Dem be dey talk say bitcoin no go last, say e go crash before 1 Year your mind go dey, but still bitcoin Neva still crash and it has been running for 15years now with monumental growth. I still feel say na lack of knowledge na cause make some people Neva still understand say bitcoin no be ponzi scheme if not Dem supposed don sabi say no ponzi schemes fit last upto 15years wey e no go crash.
Another thing wey I go like add be say Personal Research dey very important for people wey dey seek information to improve dere knowledge about bitcoin,e go also help people to understand say bitcoin no be ponzi scheme, more importantly to know how to spot the difference between ponzi scheme and legitimate asset like Bitcoin.

The truth is People will never stop to criticize bitcoin no matter what, so whenever I see people talking bad about bitcoin I will just pretend like I don't even know what they're talking about, because if you try to explain to them they won't listen, that is because they dislike it, so trying to explain things to this set of people is like a waste of time.


Yeah alot of people always have this mindset, although most of this guys already knew that bitcoin is promising yet they're still afraid to invest. whoever that think bitcoin is a Ponzi scheme then he should allow those that are interested to invest and stop saying that they're making a very big mistake.

You're on point OP instead of criticizing something that you have no full knowledge about it's better that you go a have a proper background knowledge of such a thing and going to do a good research reading about such a thing will be of help to anyone not just about crypto currency because this cuts across different fields of life allot of persons has missed life changing opportunities because they criticize what they have no sufficient information about.




Bitcoin has grown to the point where it will not crash as people who are still doubting it is saying Bitcoin has become one big asset that people are catching into as it as become a wealth creator.

I won't say anyone is a fool because they have that perception about Bitcoin because I was once in their shoes too and I was skeptical about indulging in Bitcoin after losing money in one of the ponzi schemes. As a matter of fact, I learnt about Bitcoin and this forum when I researched about TBC coin (it was popular then) and that's when I learnt. Now, I did my research and luckily found this forum and learnt more about bitcoin. Not everyone can do research like that and it's OKAY.

There is something we should understand that about life and those of that is from Nigerian always see anything that is about online stuff as a major scam but is only fews that i knows that the world is becoming global day by day that will never give up in researching and the way forward, actually I'm wetness to all you are saying here because ever since i joined this Bitcoin i have trying to carry my friends that with my reach but they are still founding difficult to follow up because all people i meant is really telling me that if they joined today we they be putting money and if they we start making profit the next day, and once i said know they will end saying that Bitcoin is not for them.

Actually Bitcoin is not meant for everyone that is from Nigerian more of the aged ones that can't have their time pressing phones or laptops for some hours but i believe that most of the youths are cable of doing what it takes to be full part in this Bitcoin because they know what they will surely archive.

Those set of people wey see Bitcoin as a ponzi schemes up till today, na our duty to be clarify them from that thought sae Bitcoin is not ponzi scheme, it can never be one. Just that some people carry wrong mentality enter Bitcoin, dem just based on that mentality without trying to find out more whether the thought they have about Bitcoin na true or false. That's why I no d fail to clarify those who get wrong misconception about Bitcoin because if we fail to get them corrected, na how them go d carry negative remark of Bitcoin d go, others wey know no about Bitcoin go believe Bitcoin to be so. But if they are countered, you don help to put a stop of the wrong misconception of Bitcoin being a ponzi scheme in the mind of some people

It is a good idea for some people who don’t know about Bitcoin to go and research and know about Bitcoin but I am thinking the reason why some people are still talking negatively about Bitcoin is because they don’t like Bitcoin and they don’t want people who are interested to invest their money in Bitcoin, there are some people who know many things about Bitcoin but they don’t like Bitcoin just because is online investment and some people hate Bitcoin because they don’t have the money to buy it.

If you look at those people who always think that Bitcoin will crash one day they are people who struggle to eat in a day, when you have money you will not be scared to take any risk that will bring earn you a lot of profit, the only people I think they will never believe in Bitcoin is those who are illiterate but seen someone who is educated and still don’t believe in Bitcoin means that those people don’t like Bitcoin or they don’t have money to invest in Bitcoin.

Some set of people in Nigeria really don't understand what bitcoin is all about they still feel Bitcoin is same thing as Ponzi scheme, when ever you tell some set of people about Bitcoin especially those around 40 to 50 years they just thinks it's a scam and they will tell you not to talk about such a thing again.
I won't actually blame them because a lot of Ponzi schemes has really dealt with them especially that age bracket of 40 and 50 years above, I know some set of people of that age that took some ponzi scheme so serious and they where even referring people and it later crash so telling them anything related to online investment is just totally a scam to them.
However those young people in Nigeria that are still seeing Bitcoin as a scam are very low in teams of hustling, as a Nigeria youth you should know about Bitcoin and how it works, the young people that I will understand if they don't know about Bitcoin is those that are staying in the village but as long as you are a youth staying in Nigeria cities or town you should know about Bitcoin.
People should just learn how to do research about things it helps a lot.

For this Naija eh, no blame person wey no gree accept bitcoin because many things don happen wey show people she. Many online platforms wey look like wetin legit for the past don carry many people money run before. If you want reason say bitcoin don tey for market, just remember say e get many Ponzi wey don stay 20 years before e carry enough money japa. E get one society wey been come out sometime 23 years ago. They talk say their goal na to uplift cooperative societies for Naija. They dey always give money to those cooperative societies and they go return am at the end of the year. Na so they do am for more than 15 years before they gather all the money wey all those cooperative societies get come run away.

One thing wey you go try if you dey try introduce new person be to explain wetin make you believe say bitcoin no go crash anytime soon. Many newbies no dey like read about bitcoin anymore, they go just hear say bitcoin good and that is all. Many newbies no fit even talk some important things about bitcoin like the limited supply, volatility and many others.

The recent Airdrops wey enter the crypto society still follow for wetin dey make many people now dey run away from bitcoin. Airdrops come behave like say e legit for the first time, now many of them don carry NFT money and prove of activity carry am disappear. Worst still, na still the exchangers wey they carry list those Airdrops wey we still dey use for bitcoin accumulation. Many people wey don loose interest for airdrop also delete exchangers join. So how that kind person go gree say he dey go download the same app for another investment?? Reading about bitcoin is good, but the problem be say many practical experiences wey don happen to people no go still gree make them dey invest freely for bitcoin.

The fact is that some people has chosen to be ignorant as a result of the current happening in the environment, and you know people are a product of what they feed themselves, once a negative mindset is activated then it becomes permanent and they can't see the positive side anymore. So no matter how you try to convince people who are negatively minded about new development, they will still not believe you because of what they are built on. The economic situation of the country has made people not to believe there is opportunity online. Any online investment looks like scam to them. If I iwas not convinced enough I would Also have believe that to be true because at a point in my life I thought everything online is scam till I met the forum. So I would not blame such people who are ignorant. But however I can only do my Best to teach those who can be interested and not those negative minded type. After all many all called but few are chosen.

Bitcoin actually dey evolve from where e dey long time ago to where e dey now, but one thing dey for sure, some people no go ever know the benefits of bitcoin until they regret it. One good thing about bitcoin be say even the volatile nature wey e get, dey also help many people wey don miss to invest early to also get to invest at another lower price, during the bearish cycle.

The speculation wey dey around bitcoin investment cannot be overstated because even when we dey reason say adoption don go far, some people still naive about this investment and dem still dey spread fake misconception about bitcoin entirely. E better if we see or come across people like that, make we tell dem wetin bitcoin really mean and make dem stop dey share fake news without dem verifying the news first.

This fake news fit be the first to reach some people ears before dem actually hear the better side of bitcoin and dem go don already make up their mind say na so bitcoin dey and themselves go come continue dey spread the fake news dey go. Information is power and the best thing we fit do na to share better news about bitcoin always and try as much as possible to carry along those wey they share fake news about am to stop also.

All this kind people wey dey sabi jump into conclusions without them knowing anything about what they're talking about Naim I dey sabi avoid because them go sabi drag well well, and earning go dey very hard to convince person like this. Them no go go read know wattin wattin bitcoin  and how e fit solve their problem of trust issues with their bank consistently selling their information to EFCC and even some bankers individually selling info to some yahoo boys, them dey there dey argue about the solution to one or more of their problems. I no dey even engage myself for discussion like that again seff, I go just let them talk wattin them like.