https://punchng.com/fg-files-tax-evasion-charges-against-binance

Pardon me for saying I've known the Nigerian government to be clueless and forceful, but with no good results to back it up. They rather act before thinking, perhaps their brains are under their feet. Because their policies and resolves in situations are likened to using the medicine for headaches to cure stomach aches. I just don't know how we got here.

It's no news that the Nigerian government has been trying to punish Binance for their own ignorance. I am not a Binance fan due to their many ignoble acts, yet the Nigerian government should have applied wisdom to the whole situation. From the beginning even before we got here, I've always held the stance that the Nigerian government should make Binance and the likes accountable by forcing them to be duly registered and regulated. By that, the government can gain more oversight (security and accountability) and also get the taxes due for the country. This would have been a win-win for the government, but they are just blind, thinking banning cryptocurrency dealing with banks was the solution.

Now that their eyes have opened a little, they still continue to handle the situation with idiocy, in my opinion. First, Binance is not registered in the country as proven in the link below:

https://nairametrics.com/2023/06/18/binance-ceo-declares-binance-nigeria-limited-a-scam-entity/?amp=1

How can a company that is not registered in your country pay tax to you? I just don't understand. It is the government that should have forced Binance to do that. But that is if they have the valid means to do that, just like the US did. As I write, many companies are dealing with Nigerians and a huge amount of money is flowing to them. But because they never registered with Nigeria, the government can't even dare to make them accountable. Why is Binance's case different even when they are not answerable to you? If at all they would start paying, the tax payment may only start immediately after they cooperate with the country and get registered, and not for years of no registration/cooperation. Those times can only be termed a free gift to Binance due to the ignorance of the Nigerian government. Not to mention this time the exchange has totally stopped the NGN dealings.

https://www.premiumtimesng.com/business/674540-binance-discontinues-naira-services.html

For their information, Binance is an exchange, just like a broker, and to date, I am dealing with many brokers that have no presence in Nigeria just like many other Nigerians. Has the Nigerian government asked any of them for tax, do they even have the right when they do not register in the country? The worst is to ban your citizens from dealing with them, and I wonder how many opportunities you would give the citizens by doing that to many companies in the world.

Some may say that Binance transacted with NGN, fine, that's true, but in my understanding, the service was never directly, but through a third party. If at all anyone would pay the taxes for those transactions, it would be the third party company which I believe is registered with the country for it to deliver such a service that passes through Nigerian banks. As for the P2P service, we all know that it is platform-based and a service that has to do with person-to-person as though we do normal transactions in the country, so it doesn't count here.

For these, I believe the Nigerian government through FIRS can never win Binance in this case in a fair court. I don't know how they would serve Binance because I have not seen the notice of service and I wonder where they will serve the company that is not registered in the country, and with no headquarters.

https://www.reuters.com/technology/binance-worlds-top-crypto-exchange-center-us-investigations-2023-03-27/

Does Nigeria even have the legal jurisdiction's right to serve Binance that is not registered with the country simply because the citizens patronise it?

Well, this is my view, I would love to hear from you guys.

Sometimes I wonder why Nigeria is facing high rates of insecurity and crime. The root of the high level of insecurity in a blessed country like Nigeria can be argued that indices such as corruption, hatred, lack of faith among the citizen, incompetent leadership, bribering, illiteracy, tribalism, religion interest, regional interest, porose nature of our boarder, divers local languages, government poor policies, high rates of unemployment and poverty are factors that promote incidences of insecurity and crime in Nigeria.

Let me talk a little bit like a financial therapist with some notches of psychologist. Lol.
The level of bear run and the situation of the bitcoin market cap at now that's being approached to the halving is being terrifying and bothering on most investors on a calculative theory of they should sell their holdings now before the market price goes lower than it's just after they've witnessed some impressive values.
Some mean investors are not troubled by the market condition while those who're troubles are seriously contemplating on considering if they can still be able to reinvest again or this asset has been converted to the fiat right to their bank accounts? Some troubling investors knows how they've struggled to adopt to the disciplinary measures to had hold their assets til this time because they're certainly kind of persons that doesn't keep funds long lasting within their pockets and so as the banks too but due to the fact that saving their funds in the bitcoin Blockchain having the potnetials of profitablity has urged and motivated them to keep holding on their assets.

It has become something of long term holding for them due to their insightments towards bitcoin currencies but now, they're being calculative within themselves that "I don't want to have my funds there and watch it depreciates to my intention knowing that halving is close by. So I've to sell but can I may not afford to maintain my financial disciplines in holding the money intact in fiats and hope to reinvest and accumulate more during the halving until the bull run.

So at this period of run in the bitcoin market cap, believe me fellows there'd be lot of regrettable investors who stood on pended while other investors who're mean to their bitcoin investment makes great testimonial rewards of their holdings.

It is a popular saying in Nigeria- School na scam! It is believed by Nigerians that there’s no gain in going to the university. It’s just a waste of time and resources, especially because when you graduate there will be no jobs or economic provisions. This recent tenure has made things so much harder for the youths, even more than the past governments. It is as though the best way to survive in the country currently is by learning a skill or hand work (as we commonly call it) and saying bye bye to university.
Nigerians have made going to the university so mandatory but that it is not even the case in other more developed countries, even though better opportunities awaits them after school.
Nevertheless, some people also see the university (regardless of the bad government and economy) not as a scam but an asset or necessity. Because going to school broadens your experiences and intellect. It educates you on how to interact and think better than the lay man. So it is deemed fit if you want to be astounding in intellectual matters.
Omor what’s your take?

Bitcoin investment is a long term investment, so one should deal with it with patience and faith most especially that bitcoin does not end up with a fixed price, due to its high volatility that leads to price fluctuations from time to time. Hence, seeing it as a get-rich-quick is impossible, since bitcoin never gives massive profits by investing short term but most likely it’s always long term. However, I believe bitcoin can make an investor poorer if he does invest without prior researching and acquiring basic knowledge, thus jumping into investing due to greed for money. But if you invest in bitcoin with long term planning, then success and getting rich in the end will certainly be possible.

Bitcoin investment is an investment you start early and take time to grow, discipline, monitor with patient to enable your target of investment excel and you can only make this investment when you patiently elongate it to enable you flourish well to the extend that when you harvest your profit from the investment it will still be progressing and not when you invest in six months time and you are inquisitive to get your profit in eight months time its wrong and getting patient to achieve what you invest is a good helping hands for future and at least when you invest in six months time you get your profit in one or two years or more for your effort to be reasonable and bear in mind that Bitcoin is not altcoin that can be hype or where many altcoins are built based on the basic structure provided by Bitcoin, Bitcoin cannot not make you poor when you know what you are doing and is more valuable and can make you rich when you wisely trade in futures.

So we have around 1 month left for the 4th halving. Thought of creating a topic to gauge the bitcoin fever!
I first found out about BTC back in Q1 2011. I think i seriously got into it in May 2011. Dl'ed the core software on sep 30 2011.(blockchain size was around ~600mb). Got free BTC via bitcoin faucet 0.05.  Started mining in 2012 via bitminter(geforce 525m getting 12mhps). HDD crashed and i forgot until 2022 when i started serious devotion

Yeah Yeah i missed the bus even if it was in front of me. Had i lived in a country where Mt Gox supported my currency, it would have been another story.


OLDEST Bitcoin video!

https://www.youtube.com/watch?v=AjnM2shYIrM

I posted my first BTC in this forum
https://broadband.forum/threads/trading-in-cryptocurrency-in-india.49820/

If Bitcoin could speak, what tales of adventure and intrigue from the digital realm would it share with us, revealing the hidden secrets of its journey through the vast expanse of the blockchain?

It's  so funny  that at this stage and century , some people still believe that Bitcoin  is a scam after it has proven itself  over and over  which has led to it's massive adoption.

If anyone still thinks Bitcoin  is a scam and depending only on fiat currencies then he or she is a slave to fiat system and believe  it or not Fiat is brain rot.
There are so many things these peoples  must understand  to know why they are really  a slave to the fiat system.

Decentralized  nature
This is the major difference between  fiat and the bitcoin,  there's  no influence or control from authority  like government , no manipulation in transactions  or values everything done in bitcoin is transparency  as full  nodes could be run by anyone,anywhere anytime without hidderance  and this a way for showing every transaction on blockchain making double-spend bitcoins impossible.

In fiat everyone is subjected to the power of governmentand its agencies,  the supply ,circulation are always influenced by their Monetary  policies.

Supply
Bitcoin  has a specific fixed supply of 21M coin which will ensure protection against  every  from of devaluation , beside there's  a smaller  unit that can be used in btc(sats) incase of any form of scarcity and scarcity brings  about increase in price , bitcoin price is also determined by the demand and supply in the market.

On the other hand, fiat currencies can be printed at will by the government  and the supply will still be determined  by that single entity  which is still the government.

You know what the biggest  scam is :



Bitcoin  was and will never be a scam

**CoinL

A friend of mine came to me and we were having a conversation and I was trying to introduce he to the forum,but he turns out that I was asked if I really trust and believe in bitcoin it will never crash like other cypto industry.

I want know if it will not crash and I need help to convince him about it that it will not crash because am a beginner and I haven't know much about bitcoin so I guess been here I will fine help to assist my friend to join the forum.

I just started DCAING into bitcoin some months ago with the purpose of becoming a long term holder, I've got my funds in place, I've done my cashflow check up, I've started building my emergency funds, I'm following all the rules that I think I need to follow to reach my goals as long term holder. But guess what happened yesterday?.
I used the money I was supposed to use to lump sum into bitcoin to buy a game. Lame right, very lame. While a lot of persons would talk down on me right now about this cause I know I've messed up and was supposed to say no to that urge to just spend more. Although I've replaced it today with a lot of hard work. I've learnt a lesson. To succeed as an investor you must have self control. I had every reason to say no to the urge to get a game but I didn't. I lacked self control to say no myself and do the right thing.
If anyone must achieve any desire in life, he must have the self control to control his lists cause here I am burning with desire to accumulate bitcoin and this same me went ahead to forfeit it for a game. All I know is I'm never gonna make this same mistake again.

Not that I'm a charting expert or a good technical or fundamental analyst let alone a bear, but I'm really surprised at the spike that's happened, and which is probably continuously happening as of this writing. So far, the price has already hit above $34,000. That's already more than 12% in growth in just 24 hours.

Has anybody somehow expected this kind of thing? Has anybody had at least a tiny clue that something like this would happen? I know Uptobers have been good months, but every huge increase especially a sudden one must have a big reason. I'm not seeing one that could push such growth so fast. I was really caught by surprise. Will a Bitcoin spot ETF be certainly approved soon that insiders have already relayed to their bosses the good news and the accumulation has secretly grown stronger?

A year leading up to the Bitcoin halving is when Bitcoin prices is at it's lowest.

Anyone new to Bitcoin needs to buy from now until the halving. Bitcoin prices always go up after the halving from 2016, 2020 and now 2024.

Unfortunately, most people will only buy during the Bitcoin bull run hype during 2025 when the prices are at an all time high. Which is the worst time to buy Bitcoin.

Anyone that is reading this now during the halving year. You're one of the smart investors and understands Bitcoin's history. Buy when it's low. Hold when it's high. Sell at the top.

I see a lot of threads here saying that now that Bitcoin ETFs are approved, it will boost the Bitcoin prices. However, that has not happened in last few days.

I researched more about it and came to know about this new point of view regarding this Bitcoin ETF. According to this point of view, Bitcoin  ETF has made Bitcoin mainstream. It has become something like regulated and as a result the premium effect is gone. Because of this, there will not be that much volatility in prices now and thus the returns it gave in past are now not possible. Do you agree with this point to view?

Here is a link discussing the same thing
https://www.moneycontrol.com/news/business/wire-news/crypto-is-going-mainstream-which-means-its-over-12135721.html/amp

I have come to realise that what is stopping some people from hodling Bitcoin is not because they do not have patience to stick to their investment. Having a source of income is the only way people can exercise patience to invest bitcoin.  It is not possible for one who is hungry and has bitcoin in the wallet and would not want to sell the bitcoin to quench the hunger.

While planning to invest in bitcoin people needs consider to have a steady flow of income , if this is not available no amount of patience can be able to make hodling to take place. When their is a flow of money one can always look on to for survival and to solve financial problems this is when we can now talk about having patience to hodl bitcoin to gain profit. It something that result to the lack of patience,  it can hunger or meeting up the daily needs,  if this can be solved it is easy in hodling Bitcoin.

Online dating apps have been on the increase this days as people more especially men and women tends to meet one another through this dating apps but it is important to note the dangers that are involved in meeting someone for the very first time in your life as most people now use through this medium to commit various crimes to humanity.

We should also be careful of how we relate sensitive information to people we meet online, don't try to impress anyone by telling them what you are into or the kind of job you do until you've met them and possibly spent some time with them before you can relate some personal information about yourself. Don't try to impress people you meet online just because you want them to like you and bring their interest to you because by so doing, you might be endangering your life, your business or your money.

And moreover, we should be cautious and careful of people we meet online when you peradventure meet them facially as you need to observe them very well and always be careful about your drinks or your food while they're around you.

I say make I bring this advice come here because e get some of us here wey be say as soon as small money enter their account, na so body go dey sweet them to chat girls up online dey promise them heaven and earth or say you be Dangote pickin so that them go fall for you. Note that as you dey try to impress Dem you may actually be exposing yourself to the evil ones in our society. Abeg advice no be curse!

Make una watch this video of a USA citizen wey meet woman online then they come meet him carry am go him apartment for Bogota a city in Colombia, na so the girl drug am also rob am of his money even collect his passport join.
https://editi[Suspicious link removed]/2024/01/21/world/colombia-dating-app-warning-deaths-intl-latam/index.html?utm_medium=social&utm_source=whatsappCNN&utm_content=2024-01-25T19:33:07

Naija economy don bad tire and as things tel dey go on now, be like say things go still worst, we just dey on God now.

 As all these things dey happen, na security for naija dey cast more, only for January, we know how many Kidnapping stories we don hear, so tel people don dey say we dey face kidnapping epidemic, but nor be only this one dey happen now, car jacking still dey go on, robbery, ritual and selling of human parts dey go on.

My reason for this post, na to make us know say as economy dey tough, na so security dey suffer bcos people way nor dey work or way nor fit feed again bcos of price of food or all those yahoo boys way nor see money tel ball, go find other ways to get money even if na to thief or kill they nor send again.

 For this reason make we try dey cautious of our environment every where we go or who we dey trust or cars/transport services way we dey enter and also avoid night walker and dey make sure say another person know were you dey go. Above all, make we dey try dey live low key, way people nor go put eye for our body bcos we nor know watin people dey think for mind and make we dey cautious of who we dey tell our success stories to also.

My fellow country men, we know how this things dey be for the country, e no go Tey now one new ponzi scheme go come out with their own offer, and you go see say many of our brothers go fall inside.

I know say many if us here know this things, but the things wey dey attract us fit dey different too, very soon one new crypto go come out, all of Twitter go dey shake, one Influencer now go carry am for head, you no go know say nah better rug pull dey wait their or pump and dump.

Una remember the story of  squid game, how they just come out with hype carry people money run. I no go fit advice say make una invest in only bitcoin, but make una try do good research, infact if possible pick only 2 altcoins invest in. But know say na only bitcoin wey dey fully guarantee.

Abeg my people make we no go give any body Free moni, besides Niger men we wise so make we apply that wisdom, even for our crypto journey too.

Make I no talk problem no come give the small solution I know.
 
How to identify this their scam  people wey come in form of ledgit crypto

👉 Read white paper: crypto project normally suppose undergo stages of development, so this project they get watin them dey call white paper which dey contain the formula on how the system go dey operate, their road map, e go explain how the entire network suppose function.

Any whitepaper wey u read wey no dey solve any problem, wey just carry promise full inside my brother commot body. The one wey we sabi bitcoin, give us proper written whitepaper. So any one wey no dey follow in the footstep na scam.
This scam people their whitepaper dey poorly written and if u sabi the eye read am u go know say na scam. Make I drop Link for better whitepaper so u go understand me.

BITCOIN WHITEPAPER

👉 Identify team members: most of this scam people dey like dey anonymous for their work, so one good way to check for their team members, find who dey real their fir goggle or not, even follow them for Facebook see if the real person dey post something related to the project. And they no fit scam with theri real face cause government go find them.

👉 beware of free things: most of this men dey like offer free things like say na ponzi, them go carry token give you for free or even some of the extra prelaunch coin for free. Carry for mind say nothing be free oh, unless watin then go gain go big pass your own.

👉check watin them dey talk: one thing I believe na say good business dey out to solve problems, so if this people just come dey talk moni moni my brother commot body na scam. This people fit even go as far as saying them dey launch for 20$ when their presal3 na just 0.003 like how which kind lie be this or even dey promote themselves as the next big thing. Just dey careful of such.

Like this I know say I don do better justice to this matter any body fall na en own.

If you get other ways wey u know say we fit use avoid this scam wey go happen this year abeg share for us.