Naija Novice Hangout {Newbies introduction & Orientation} Thread.

[Coyster]

This later reason is why most people are buying bitcoin because they know if they buy at this specific time, the price would have increased after some months or years.

Yes, and that why Bitcoin is a speculative asset in my opinion, many people tend to refer to Bitcoin as a safe haven asset/store of value, and i do not quite agree with that, many investors more or less just 'speculate' with the price of Bitcoin hoping for huge returns at a later period, and it rarely disappoints as Bitcoins price always appreciates in the long term.

I am not recommending these sites because I have not used their service before: (DYOR)
https://www.nigeriabitcoincommunity.com/nigeria-bitcoin-stores/?amp=1

Thank you for posting this site, i will do well to peruse through it and do my research on what i find therein.

If we dey look 30years I go say $1M (yes one million dollars), first e go try achieve $100k den go dey struggle to keep that trading price then during the next bull cycle, we go see price above $100k.

I know say 30 years far well well, but $1M no be here oh, i no talk say e dey impossible oh, but i just dy reason am if Bitcoin go fit go as high as that in the next 30 years, but well make we dey watch, the koko be say make God give us life so we go see as everything go take happen.

With high rank of graduates and less work, bitcoin and cryptocurrency in general go be home to many Nigeria youths.

Unemployment na one very big wahala for our country so, i also believe say many Nigerians go dey seek escape route and other secondary source of income, so dey go chook eye wella for Bitcoin matter.

[CryptopreneurBrainboss]

I know say 30 years far well well, but $1M no be here oh, i no talk say e dey impossible oh, but i just dy reason am if Bitcoin go fit go as high as that in the next 30 years, but well make we dey watch, the koko be say make God give us life so we go see as everything go take happen.

Make use this opportunity first congratulate you on your new rank, we get another Legendary for our mix, na @Bitbender remain for the OGs now. Wida you na wetin you dey do wey you never get dem merits. Guy hustle oh.

Ok to answer you, $1M no big something, when you consider the adoption wey dey come and the scarcity of Bitcoin. If you wan understand the power of adoption, just got study wetin happen to Bored Ape NFT. Something wey be dey $200 now the cost flood price of 100 ETH that's $300k+. Bitcoin go easily do $1M trading price. Okay make we speculate small. The next target (that's major target) na $100k from there we go more for higher target them.

From that $100k wey no go pass next 2/3 years to achieve, na just 10x to $1M. That's if bitcoin trade at $100k na just 10x to reach $1M. You see how easy e dey. When the higher the price of Bitcoin, the more e dey enter people eye  especially the rich.

[Maestro75]

One Naira Can Be Equal One Dollar Says Sam Zuga

I was thrown into amazement when i red about Sam Zuga claiming that he can help our Naija #1 equals to $1 if we give am the opportunity,

Na Buhari and APC weh I blame. They have made us a laughing stock to the point weh Sam Zuga come deh put mouth for something weh him no fit do. Him never fit steady his Zugacoin e come remain to solve the massive problem weh Nigeria get. Him want to follow that $1 to N1 weh APC carry deceive us start, e no go work. Na format to take enter APC government to cut him own share of the loot Zuga deh find.

[CryptopreneurBrainboss]

Guy I need you suggestions, with the next Bitcoin halving coming soon, what sector of crypto-currency is best to adopt right now,
I am looking the project on metaverse, they are looking attractive, but for how long would they last? I don't think they would be a thing in the next 4yrs this is just my thoughts, but I am seeking for a logical discussion on a project that could turn 1000X in future years to come. Let's share thought guys I always believe Crypto-currency is unpredictable and we all can make something out of it.

Guy understand say, every markets cycle dey carry e own trend come. If you look back to 2017 and 2021 you go I see say no be the same type of project been trend during this bull cycle although some OGs coins dem benefit. One important thing you need to know about bull cycle na say Layer 1 coins they always do well. Layer 1 coins na AKA Ethereum killers that's coins wey dey work on smart contracts them. 2017 we see coins like NEO, Trim and Cardamom so we'll while 2021 we see project like Solana, Polkadot, Avalanche etc dem plenty.

This one mean say in 2025 we supposed they expect another layer 1 coin wey go feel like on e own, fit challenge Ethereum to do well due to hype as Solana get. So keep an eye on those kind of project and any trend that comes out before or after the halving. Metaverse also no go die easily as big names are coming into the space. You see this Bored App Club NFT wey launch appcoin. Just dey watch that market. If better crash happened in next months to come, get yourself some Bitcoin and altcoins especially Apecoin if you dey look to invest in metaverse, do some research though on the coin before investing just so you go know wetin you dey get yourself into.

[Doan9269]

Three Nigerian Banks faces CBN Sanction Over Involvement in Crypto Transaction.

Three major Nigerian Banks on the early hours of Wednesday were reportedly sanctioned in respect to the violation of law enforced by the authority of the Central Bank of Nigeria to ban every account involved in any related crypto transaction, those banks were as follows: Stanbic IBTC bank, Access Bank Plc and the United Bank of Africa (UBA) with a hooping sum of #200m, #500m and #100m each respectively. CBN still maintain it stand by insinuating on crypto as an element used to perpetrates illegal acts such as money laundering, scam, and any form of fraudulent act due to it anonymity.

It could be recalled that earlier last year, the Nigeria government through its financial counterpart place a ban on making any cryptocurrency transaction and ever since then banks have refrain from performing any related crypto payments or transaction.

CBN claimed it has systems in place that places all banks under surveillance for any crypto payments or transaction been performed from any bank to alert them in which banks are unaware of such system in place.

What surprised me most is the claim by Stanbic IBTC bank that the payment could have byepass their system unknowingly to them, i still look forward to when our government will wake up to see the number of Nigerian youth trooping for cryptocurrency neglecting their ineffective E-Naira.

https://thestreetjournal.org/cbn-slams-₦800-million-fines-on-banks-for-flouting-cryptocurrency-order/

[Wiwo]

Three Nigerian Banks faces CBN Sanction Over Involvement in Crypto Transaction.

Three major Nigerian Banks on the early hours of Wednesday were reportedly fined for violation of law enforced by the Central Bank of Nigeria to ban every account involved in cryptocurrency transaction, the banks are Stanbic IBTC, Access Bank Plc and United Bank of Africa (UBA) with a hooping sum of #200m, #500m and #100m each respectively. CBN still maintain it stand by insinuating on crypto as an element used to perpetrates illegal acts such as money laundering, scam, and any form of fraudulent act due to it anonymity.

It could be recalled that earlier last year, the Nigeria government through its financial counterpart place a ban on making any cryptocurrency transaction and ever since then banks have refrain from performing any related crypto payments or transaction.

CBN claimed it has systems in place that places all banks under surveillance for any cryptocurrency transaction performed from any bank to alert them in which banks does not have access to such system.

What surprised me most is the claim by the IBTC bank that the transaction might have byepass their system unknowingly to them, I still look forward to when our government will wake up to see the number of Nigerian youth trooping for cryptocurrency neglecting their ineffective E-Naira.

https://thestreetjournal.org/cbn-slams-₦800-million-fines-on-banks-for-flouting-cryptocurrency-order/

Sorry to say this but this news doesn't move me a bit like the central bank already issue a circular to commercial banks to close cryptocurrency accounts what you should know is there is a difference between cryptocurrency accounts and individual bank accounts, just as we have dollar account there is cryptocurrency account opened by banks and customer are operating them and most of those customers that have access to such account are politicians who make the huge conversion at regular intervals just to avoid the daily limit place on money transaction in Nigeria. This has little or nothing to do with me and you and to some extent, I see this move as a good move from the CBN most especially when we want to deal with money launderers who have seen cryptocurrency as their save heaven.

[Davidvictorson]

Three Nigerian Banks faces CBN Sanction Over Involvement in Crypto Transaction.

Three major Nigerian Banks on the early hours of Wednesday were reportedly fined for violation of law enforced by the Central Bank of Nigeria to ban every account involved in cryptocurrency transaction, the banks are Stanbic IBTC, Access Bank Plc and United Bank of Africa (UBA) with a hooping sum of #200m, #500m and #100m each respectively. CBN still maintain it stand by insinuating on crypto as an element used to perpetrates illegal acts such as money laundering, scam, and any form of fraudulent act due to it anonymity.

It could be recalled that earlier last year, the Nigeria government through its financial counterpart place a ban on making any cryptocurrency transaction and ever since then banks have refrain from performing any related crypto payments or transaction.

CBN claimed it has systems in place that places all banks under surveillance for any cryptocurrency transaction performed from any bank to alert them in which banks does not have access to such system.

What surprised me most is the claim by the IBTC bank that the transaction might have byepass their system unknowingly to them, i still look forward to when our government will wake up to see the number of Nigerian youth trooping for cryptocurrency neglecting their ineffective E-Naira.

https://thestreetjournal.org/cbn-slams-₦800-million-fines-on-banks-for-flouting-cryptocurrency-order/

It is fair that the CBN fined the defaulting financial institutions. They already stated that digital currencies  are largely used in terrorism financing and money laundering of which there is a point. Although, in that circular, they did mention that banks should ensure that existing customers that are virtual currency exchangers have effective capital AML/CFT controls that enable them to comply with customer identification, verification and transfer, monitoring requirements. I suspect that this is the point where the banks failed and that is why they are being fined.

[GiftedMAN]

One Naira Can Be Equal One Dollar Says Sam Zuga

I was thrown into amazement when i red about Sam Zuga claiming that he can help our Naija #1 equals to $1 if we give am the opportunity,

Na Buhari and APC weh I blame. They have made us a laughing stock to the point weh Sam Zuga come deh put mouth for something weh him no fit do. Him never fit steady his Zugacoin e come remain to solve the massive problem weh Nigeria get. Him want to follow that $1 to N1 weh APC carry deceive us start, e no go work. Na format to take enter APC government to cut him own share of the loot Zuga deh find.

My brother everybody dom take naija like cruise, anybody feet wake up go media house pay money talk anyhow unto say dem no dey hold person for wetin him talk for here. Buhari and em people wey promise naija people say em go end the insurgency wey been dey worry for Good luck administration in 1month if em enter power how far today?  No blame Zuga em dey try use method wey other people dom use enter power try em luck. Las las na to turn snake and gorilla   pack money zoom then another person go come too.

[Maestro75]

Three Nigerian Banks faces CBN Sanction Over Involvement in Crypto Transaction.

https://thestreetjournal.org/cbn-slams-₦800-million-fines-on-banks-for-flouting-cryptocurrency-order/

When I talk am say there is bitcoin ban in Nigeria some people talk say nothing like that, say na partial ban or say na only Buhari fit do am. Wetin come be this now where CBN begin sanction banks? We deh forget say na Buhari get CBN. Nothing weh anybody want to tell me. Godwin no fit do anything weh no be wetin Buhari want. The way this thing deh be me for body, it is like we are already in 2023 make this set of people carry their troubles go. This suffering is too much on Nigerians and APC no just send anybody.

[CryptopreneurBrainboss]

Three Nigerian Banks faces CBN Sanction Over Involvement in Crypto.

Transaction.CBN claimed it has systems in place that places all banks under surveillance for any crypto payments or transaction been performed from any bank to alert them in which banks are unaware of such system in place.

I see this news which day and I come they wonder what was the reason behind the sanctions. First I reason say maybe this banks dem dey involved in some crypto transaction directly like dem do trade which is what resulted to this sanctions. Because you no go how tell me say dem go sanction dem because ordinary citizens dey use their banks dey run their transaction. How dem wan take know say this transaction or that transaction dey come from crypto trading especially when description no indicate say na within dey sup be that.

On the order hands if big firms wey dey run cryptocurency trading get accounts with them (this banks) and them dey allow major transaction daily with them then CBN fit get a say. If na me be the banks CEO we go go court oh. This banks are private business, I no understand why this government just wan destroy this country. You know who go surfer all this thing, we the ordinary people because when banks go come with their charges to take wan recover, na only us go surfer am.

[Davidvictorson]

Nigeria's Next President and the Future of Cryptocurrency in Nigeria

I firmly believe that leadership determines direction. This direction could be either forward or backward. A forward direction equals progress and a backward direction is, well we all know what it means because we are currently experiencing that now as citizens of Nigeria.

While most folks are making the battle for the presidential seat between PDP and APC, I am more concerned about the individuals who are vying for this position, who they are, and what they do in relation to the budding crypto economy in Nigeria. Crypto is here to stay. However, for it to thrive, we must elect a leader with foresight. A leader such as Nayib Bukele,  president of El Salvador.

So far, I have counted 14 persons who have already declared interest to be Nigeria's next president. They include:

1. Anyim Pius Anyim
2. Yahaya Bello
3. Orji Uzor Kalu
4. Kingsley Moghalu
5. Dele Momodu
6. Chukwuka Monye
7. Bola Ahmed Tinubu
8. Rochas Okorocha
9. Khadija Okunnu-Lamidi
10. Sam Ohuabunwa
11. Doyin Okupe
12. Bukola Saraki
13. Atiku Abubakar
14. David Umahi


Of all these presidential aspirants, only Kingsley Moghalu , Atiku Abubakar , Dele Momodu , and Khadija Okunnu-Lamidi , have spoken in favour of bitcoin and cryptocurrency in Nigeria. This should at least give us an idea of the progress cryptocurrency will make if any of these persons win. Truth be told despite the fact that most people may believe that their votes don't count, I appeal to you to get your PVC and go out to vote on that day.  There is hope for Nigeria and there is hope for cryptocurrency in Nigeria.

What do you guys think? Did I miss out on any thing?

[Anguwa]

Dispute these people aspiration, I don't know what exactly be there main target towards developing the nation at large and the same time bring solutions to the problems we have in Nigeria which include Insecurity, bribery and corruptions everywhere. Our educational system don spoil as ASUU strike self don turn regular thing for our side now.
Well, as I just go through my news channels, I come across this news wey they talk say
1. Nigerian Bar Association Embraces Blockchain and Cryptocurrency
2. CBN to penalize Banks for Violating Crypto Trading Ban.

Many people went to attend the seminar in Ikeja Lagos, they want advancement so that lawyers can have good knowledge in cryptocurrency and blockchain technology so that they can use the knowledge of Blockchain and Cryptocurrency to make decisions as the case may be.

Again CBN fine the following banks for allowing cryptocurrency transactions.
1. Stanbic IBTC Bank fined #200 million, because they fund two of their accounts running cryptocurrency transaction.
2. Access Bank pls fined #500 million Naira because the fail to close customers account that were used in cryptocurrency transactions.
Also UBA too,
I don't know what this country were all about in this cryptocurrency aspect.
I just hope the new government wey go come go reason those Bans and regulations.

Source: https://youtu.be/v8itt9A__pg?list=PLn07-_3L7-UKPgBVhDf20Cib7vzElAlJ-

[Mr.right85]

Las las eh, this our naija na big scam! Them just dey do things anyhow and na base on how e go favour who dey the office. If this there fine way them dey bring come out now, happen say, them collect am las las, na which person pocket e go enter becuase, I doubt say, e go enter the treasury purse.

If you observe well, na this same crypto ban way be say, our oga kpakpata for the aso rock them been say, them no sabi watin dey happen or how come, CBN con go ban crypto. Nwo, them don come with fine and the next thing go be to play ignorance when the thing don dey carry waka go another side. If yiu ask me, FG na em be the biggest scammers of all.

[SatoPrincess]

I feel they just want to tax the banks. One smart bad guy go don give them line say make them throw banks bait wether them go chop am. Come to think of it, how them take know say crypto transactions dey go on and at what volume? CBN dey claim say them use advanced software way banks no get, me and you know say that one na big lie. Na olodo for crypto them go fit deceive with those lies. If na me get bank I go take them to court I no go drop one kobo

[Maestro75]

So far, I have counted 14 persons who have already declared interest to be Nigeria's next president. They include:

1. Anyim Pius Anyim
2. Yahaya Bello
3. Orji Uzor Kalu
4. Kingsley Moghalu
5. Dele Momodu
6. Chukwuka Monye
7. Bola Ahmed Tinubu
8. Rochas Okorocha
9. Khadija Okunnu-Lamidi
10. Sam Ohuabunwa
11. Doyin Okupe
12. Bukola Saraki
13. Atiku Abubakar
14. David Umahi

This your list shock me no be lie. You comot the most progressive man weh declare for the seat. Peter Obi na our correct guy. Apart from Moghalu weh fit try for the country i no see wetin the rest in that list fit do apart from to chop our money.

CBN dey claim say them use advanced software way banks no get,

I read somewhere weh Access Bank deh tell CBN say them go like to get that software too so them go know how to catch defaulters next time. But I know say them deh use style challenge CBN to provide wetin no exist.

[CryptopreneurBrainboss]

Nigeria's Next President and the Future of Cryptocurrency in Nigeria

What do you guys think? Did I miss out on any thing?

Wida you na, you no put Wike name for the list abi I dey miss something. him dun undeclared. Another thing, make dem no use cryptocurrency talk confused una. Nigeria problem is bigger than cryptocurency and we no need person wey get interested in cryptocurrency without having a solution for Nigeria to win. If the right leader enter, automatically e go favour cryptocurency as dem go dey find all ways to bring development come the country.

The average Nigerian doesn't benefit from the positive regulations towards the industry as dem no dey involved. Cryptocurency should be the least reason to vote in a leader. We need one with vision for the country unlike buhari and APC wey dem no get any plans but just dey try luck everywhere. Election still far sha person been dun reason this thing before, make we discuss other topic wey for lead to update dem

[Wiwo]

I still remember before the 2015 election when I was tirelessly preaching against what we have found ourselves in today some of my colleagues called me an anti-progress or anti-change preacher then as a young good governance pioneer I was rejected by so many individuals including family members who believe the then government was not doing enough as to comb the insecurity and economic problems phasing the country, my warning of the future implications of the changes their glamor for was ignored and Buhari was voted in to replace the then youthful candidate in power and what we are presently seeing is the result of that resistance. While some forks that draughted me then have apologized some are no more but the truth has been should we continue to choose a leader base on sentiments or merits this has been my cry right from day one. Cryptocurrency is a savior and at that, any government that has not promoted that course is an anti-people government.

[Marykeller]

Three Nigerian Banks faces CBN Sanction Over Involvement in Crypto Transaction.

Three major Nigerian Banks on the early hours of Wednesday were reportedly sanctioned in respect to the violation of law enforced by the authority of the Central Bank of Nigeria to ban every account involved in any related crypto transaction, those banks were as follows: Stanbic IBTC bank, Access Bank Plc and the United Bank of Africa (UBA) with a hooping sum of #200m, #500m and #100m each respectively. CBN still maintain it stand by insinuating on crypto as an element used to perpetrates illegal acts such as money laundering, scam, and any form of fraudulent act due to it anonymity.

It could be recalled that earlier last year, the Nigeria government through its financial counterpart place a ban on making any cryptocurrency transaction and ever since then banks have refrain from performing any related crypto payments or transaction.

CBN claimed it has systems in place that places all banks under surveillance for any crypto payments or transaction been performed from any bank to alert them in which banks are unaware of such system in place.

What surprised me most is the claim by Stanbic IBTC bank that the payment could have byepass their system unknowingly to them, i still look forward to when our government will wake up to see the number of Nigerian youth trooping for cryptocurrency neglecting their ineffective E-Naira.

https://thestreetjournal.org/cbn-slams-₦800-million-fines-on-banks-for-flouting-cryptocurrency-order/

Can we say CBN don d broke! Anytime we dey need money, dem go indirectly d attack bank knowing fully well that we Nigerians go pay d money indirectly. Now banks go begin d charge peso anyhow for any transaction.
If we run investigation properly, you go know sae most of the so called CBN staff d do cryptocurrency codedly as well! Hypocrisy of the highest order!

Oh lest forget, Their boss wan be the President of Nigeria. I see, Emefiele needs money badly to fund his presidential campaign ambition! Now you get it!
Nigeria na cruz country, since CBN go fit wake up one day wan bill banks

[Agbe]

Una good evening. I was looking for a way to ask some disturbing questions, but I no no where I been won go ask. But today I don see this Local thread, I thank God for that. But we still need local board. Because this thread dey hide for somewhere.

Please make una tell me the meaning of the following Teams. So that I will be conversat in the forum. As I no no the jargons (terms), the thing dey suffer me well well.  Such as!

1. Bounty: the meaning and uses
2. NFT: meaning and uses
3. Signature and compaign: meaning and uses
4. Merit: meaning and uses
5. And how to get merit to rank up speedly etc.

These are some of the pressing issues in my mind.
Make una tori me the words.

[uchegod-21]

So far, I have counted 14 persons who have already declared interest to be Nigeria's next president. They include:

1. Anyim Pius Anyim
2. Yahaya Bello
3. Orji Uzor Kalu
4. Kingsley Moghalu
5. Dele Momodu
6. Chukwuka Monye
7. Bola Ahmed Tinubu
8. Rochas Okorocha
9. Khadija Okunnu-Lamidi
10. Sam Ohuabunwa
11. Doyin Okupe
12. Bukola Saraki
13. Atiku Abubakar
14. David Umahi

If we talk say make we select leaders based on people wey sabi or wey get foresight, Moghalu suppose be president. Even if we want people wey dey like Barrack Obama, we get am for person like Donald Duke, but things no dey work like that for Nigeria. Na the most corrupt or people willing to corrupt that will emerge. Why you no put Wike for the list na?
Abi, na me no see am...as long as I know, na few options we get.

Talking about people wey go support crypto. All of them no get any good plan for crypto, dem see am as selling point because na wetin youths want and the present government no gree implement it. So, comot mind.