How I got my stubborn neighbour working for a central bank to adopt Bitcoin

[EarnOnVictor]

Honestly, I like to mind my business, but I got it loose yesterday evening when a co-neighbour invited all of us to a birthday party. Normal, gist went on until this elderly neighbour working for CBN (Central Bank of Nigeria) as a director in one of their branches stated that people now launder money in Bitcoin thereby making it difficult for the law enforcers to trace. This is where I took it personally, else I would have been a bastard of BTT.

My first question to him was sir, have you ever tried Bitcoin before? He was like, what's my business in trying that devilish thing? I smiled, and I replied now, you are guilty of your words. How could you judge and condemn what you do not know? Why can't the so-called law enforcers stop being paper officers, gather intelligence and go digital maybe they won't catch some of the illegal flows, that's if your assumption is correct. Bitcoin is innocent of many allegations, it is just like your fiat money, it goes where you send it and is highly traceable if you have the resources and tech.

He was like, no no no, something that will just disappear from the radar.

I said it doesn't work that way, I will show you how it works tomorrow. Stop listening to the noise, act by proof and mind your own business and use your Bitcoin for the right and honest purpose. If you are indicting Bitcoin, fiat is not innocent also, or do you want to tell me that fiat is not being used for evils? So are you because of that going to stop spending money?

Look sir,  I was once like you a while ago but I only missed a huge opportunity of making millions through this mindset. It's a lie if someone tells you that Bitcoin is evil, just perceive it as money, they can use money for anything whether good or bad, but money will remain money, let your conscience judge you on what you personally use it for. Bitcoin is now in the mainstream of the financial market and spending, there is nothing anyone can do about it, they will only miss out on the opportunity. I now know so much about it, it's not bad, and don't let the sentiment of working for CBN blind you to its blessing. I'm sure that some of your colleagues are using and investing in it, only that you won't know.

Even the US government could not ban Bitcoin for a reason, it works within a network, and most of the transactions therein are linkable within the network.

The conversation later got private, and below was the concluding part I remember;

Me: Let what you use your coin for judge you sir, Bitcoin is a good investment, and not evil.
Neighbour: Are you really sure???
Me: 99.9999%.
Neighbour: Your living standard shows this could truly be positive. My son and wife have disturbed me on this on several occasions, I am only stubborn about it. I'm in...I will use my son in the US for it, he knows about it, and it is against my work here in Nigeria.
Me: Smiles, I know.
Neighbour: Thanks man...I will start with 1BTC if only you show me proof that you have a sufficient amount in there.
Me: I gat you sir...there is nothing to gain by lying to you. It's your coin, your money and yours to safely keep...I have nothing to gain or lose.
Neighbour: Okay

I couldn't believe it!!! Can you imagine like a play, I was able to convince a whole CBN man to do 1BTC? But I hope he doesn't change his mind. Even if he does, I'm proud to have stood for Bitcoin in such a situation.

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[tbct_mt2]

Not your keys not your coins.
With Bitcoin you don't need collateral.
The bullish case for Bitcoin

With fiat currencies, you will need collateral to make its value. Collateral can be gold or anything used by government and central bank. Its value can be stable or can be volatile, you don't control it.
With banks, after you deposit your fiat currency there, they can use your money to re-invest into like bonds, securities and when national or global economy becomes uncontrollable worse than they expect, they will face risk of collapse just like many banks recently in the USA and Europe.

[Bananington]

Because they work in a the central bank of your country does not mean that they do not have and hold beliefs of their own or mean that they will be difficult to convince to the  side of bitcoins. Some people are working in some places even though they do not support what is being done there or the ideas held by these places, they are there simple because they need the job and the income that comes with it for their well being. I say this because you should not let the position occupied by some people make you feel that they cannot be convinced about bitcoins, if you try and it does not work, that is different from just concluding that because of their position they cannot be convinced, that is a wrong assumption.

[pawel7777]

Honestly, I like to mind my business, but I got it loose yesterday evening when a co-neighbour invited all of us to a birthday party. Normal, gist went on until this elderly neighbour working for CBN (Central Bank of Nigeria) as a director in one of their branches stated that people now launder money in Bitcoin thereby making it difficult for the law enforcers to trace. This is where I took it personally, else I would have been a bastard of BTT.
(...)

Haven't you overreacted there a bit? It doesn't sound like he was bashing Bitcoin in that statement.. If you don't link your identity with your bitcoin address in any way, then tracing it back to you would be impossible, so he wasn't wrong there. As for using Bitcoin for money laundering - I don't think it's a good tool for that (depending on the local laws I guess). Laundering does not mean hiding your money, but making illicit proceedings appear legit, so using Bitcoin alone won't help here, as you'd still need to be able to explain where did you get all those bitcoins from.

[Wiwo]

I couldn't believe it!!! Can you imagine like a play, I was able to convince a whole CBN man to do 1BTC? But I hope he doesn't change his mind. Even if he does, I'm proud to have stood for Bitcoin in such a situation.

Nice and commendable of you to have defended what you believe in Bitcoin and as we all know we have several aspects to Bitcoin ranging from having the capital to owning a substantial amount of Bitcoin which in this case you said the man is willing to put down 26k+ if he doesn't change his mind on the long run, and also if he will be willing to invest the time in building knowledge and gaining the fundamental understanding of the subject matter.

Adopting Bitcoin is good but what I don't like is exposing my financial status and sources of income, of course, I have stable work and do Bitcoin as a side knowledge-building and investment choice, and within the long term the reflection will be more financial freedom, And as a banker, your number may be exposed to a lot of risks so it's a good thing he said he will introduce his son in the US to it, and I am sure the son will be more exposed to decentralized financing and other financial tools available on the Internet such as Bitcoin.

[macson]

At first i thought your conversation with your neighbor ended in a big argument lol but it seems that it didn't at all, i read your conversation with your neighbor from the start and it seems that your neighbor is a person who is easily provoked but is careful in taking a stand.  anyway, do not be surprised when hear that people from banks do not believe in and are against bitcoin because indeed they feel that bitcoin and the cryptocurrencies that are currently spreading are a big threat to the continuity of the bank's business. 

after you introduce bitcoin to him, it's a good idea to also remind him about the volatility of bitcoin prices and never sell when the market is bearish, then recommend the best and safest personal wallet that he should use.

[GiftedMAN]

Good effort Op in defending Bitcoin once again this level of Bitcoin promotion through private talks and engagements will help to change the mindset of people towards Bitcoin especially those working with the central bank of Nigeria who don't want to hear about Bitcoin adoption in Nigeria.I hope you trust your neighbor to that extent before informing him that you are a Bitcoin investor because some people can report you after hearing that you trede Bitcoin which has not been legally accepted in the country Nigeria so next time don't make yourself very open so you won't risk your own safety and remember not to force it on anyone especially those who are Bitcoin haters.

[Dr.Bitcoin_Strange]

Anyways, the man is not to blame; he's basically the old-school kind of man, not concerned about the new technologies, but it's good you never hid the truth from him. Well, if it's ever possible, I believe everyone should be told the truth about Bitcoin because there are a lot of misconceptions about it. Look how the man thinks Bitcoin is evil; even the fact that he works with CBN, who are in charge of controlling money, he just can't relate to it that even the money we talk about is being used to commit a lot of ill-conceived activities. The use of money, both faith-based cash and digital currency like Bitcoin, to commit illegal activities is inevitable; it can never be totally eradicated, and the only way to do so is to stop the illegal activities first.

One thing most people fear about Bitcoin is its price volatility and instability, but Bitcoin cannot be stable. That's really why it's a store of value as well, because if one holds his or her Bitcoin for the bull market, they sure will get some profit, but when the same person holds a huge amount of money for like four years, they will be surprised that the value of the money has even reduced, and even the added interest will not mean anything. It's good you changed her perception of Bitcoin.

[Doan9269]

I couldn't believe it!!! Can you imagine like a play, I was able to convince a whole CBN man to do 1BTC? But I hope he doesn't change his mind. Even if he does, I'm proud to have stood for Bitcoin in such a situation.

You can't blame him due to the nature of his work, they would have been oriented against bitcoin since the financial apex institution he works with is the one in control of every other banks and are the same people who established the law that all banks should not be involved in anything related to cryptocurrency as against their ethics as financial institutions, but also i think there's more need to emphasize on the aspect of bitcoin being a p2p network, how he can make use of a decentralized cold storage for privacy, he may actually finds it more interesting if this aspect were cleared and his fear from avoiding his work place know about his involvements in bitcoin will be secured along way.

[Issa56]

Honestly, I like to mind my business, but I got it loose yesterday evening when a co-neighbour invited all of us to a birthday party. Normal, gist went on until this elderly neighbour working for CBN (Central Bank of Nigeria) as a director in one of their branches stated that people now launder money in Bitcoin thereby making it difficult for the law enforcers to trace.

You should have asked him if people don't launder money with fiat currency and why are they not tracing them, the only bad thing people do say about bitcoin is that it's use for illegal activities, but those illegal activities have been in existence before bitcoin was even created so which currency where they using then, government officials make people believe that bitcoin is the only currency that's used for illegal activities and fiat is pure.

My first question to him was sir, have you ever tried Bitcoin before? He was like, what's my business in trying that devilish thing? I smiled, and I replied now, you are guilty of your words.

Most people don't even get to know about bitcoin before they jump into conclusion, they just listen to what people around them say and they listen to what government feed them on the news and they will also start spreading bad news about bitcoin. Most of them do think Bitcoin is a scam, because how will you be spending a currency that you can't see or touch, I believe this is also a reason why people are scared of bitcoin, but most of them don't really understand what bitcoin is all about, and the main reason why government is scared of bitcoin is because they can't control it.

I couldn't believe it!!! Can you imagine like a play, I was able to convince a whole CBN man to do 1BTC? But I hope he doesn't change his mind. Even if he does, I'm proud to have stood for Bitcoin in such a situation.

I don't know how you managed to convince him but it's not all about buying bitcoin, did you tell him the risk associated in bitcoin investment, did you teach him how to properly protect and store his bitcoin, did you tell him how to properly secure his private key, because if he those not know about those things mentioned above, he might end up losing his bitcoin. If he can lose his bitcoin, then he will confidently say it to you that bitcoin is a scam, but he won't know the mistake is from him.

[Woodie]

Thinking about crypto..a part of me believes bitcoin isn't for everyone...it has a target market like all things in the world. And being a digital currency,  it will be more appealing to millennials than the older generation, but seeing how you handled the the bad name bitcoin has out there was a great salesmanship from you and hope the banker genuinely bought in on how bitcoin can be good...Besides the money laundering sticker bitcoin always gets, if someone is trying bitcoin for the first time most likely it will have a money trail because its moving from fiat to crypto which should be a starting point to get these guys giving crypto a bad name...and all things equal money laundering will always exist,  be it bitcoin or fiat because someone has put everything on the line and ready for whats coming.

[Stedsm]

Anybody working in the banking sector nowadays is easy to be convinced for btc, that's because people know that currently they can't trust the banks due to what happened with some huge banking names recently, so even those in the banking sector can easily be convinced about crypto to be the most safe haven asset they can park their funds into.

[Sanitough]

I couldn't believe it!!! Can you imagine like a play, I was able to convince a whole CBN man to do 1BTC? But I hope he doesn't change his mind. Even if he does, I'm proud to have stood for Bitcoin in such a situation.

You can't blame him due to the nature of his work, they would have been oriented against bitcoin since the financial apex institution he works with is the one in control of every other banks and are the same people who established the law that all banks should not be involved in anything related to cryptocurrency as against their ethics as financial institutions, but also i think there's more need to emphasize on the aspect of bitcoin being a p2p network, how he can make use of a decentralized cold storage for privacy, he may actually finds it more interesting if this aspect were cleared and his fear from avoiding his work place know about his involvements in bitcoin will be secured along way.

You’re right on this. He is just a victim of misconceptions about bitcoin especially that he works for fiat and not for cryptocurrency. But I believe this should not hinder him to know the truth and continue to miss opportunities just because he works in a central bank. In the end, when everyone around here is up to bitcoin, I don’t think he’ll stay dedicated to fiat and won’t jump for the opportunities that bitcoin has to offer. I guess he just needs to balance himself, enough that he can see both the positive sides of fiat and bitcoin.

[Hyphen(-)]

OP You have worked hard to persuade a CBN staff member who was warned to avoid Bitcoin due to the Nigerian government's reluctance to legalize it. As a result, the CBN staff has no right to publicly invest in Bitcoin, but they must be interested in Bitcoin investing because they are aware of how transparent Bitcoin transactions are.

Anybody working in the banking sector nowadays is easy to be convinced for btc, that's because people know that currently they can't trust the banks due to what happened with some huge banking names recently, so even those in the banking sector can easily be convinced about crypto to be the most safe haven asset they can park their funds into.

This is true because even bankers want financial freedom, but they stick to their centralized banking system due to the nature of their job and their unwillingness to lose it.

[Distinctin]

You don’t need to convince him to adopt bitcoin because that is against on his job description. However, it’s a good thing that you were able to defend bitcoin based on his negative assumptions about it. That way, he will be more open to research about bitcoin and the benefits it gives to all its users and investors. Because when the whole world is already adopting bitcoin, people who work in banks should start to worry that they might be wrong in their assumptions and that they should not easily judge bitcoin just because the government is against it.

[OgNasty]

The best way to convince someone familiar with the banking system to adopt Bitcoin or at least give it a shot is to put them in a position where they need to choose between making an international money wire or sending Bitcoin. When they have to choose between cheap and immediate vs expensive and a wait time, they will make the right choice.

[Yatsan]

What's the point of doing so?  I get it, we all want to encourage other people to also engage in this industry but the idea alone that some people are quitting, should already be a warning to not convince others to do so. Let them find their own curiosity. Also, I have experienced encouraging a friend of mine before but unfortunately, I was the one blame for his loss and there are even worse scenarios from other people who also tried doing so. Point here? It is okay to share the knowledge but always think of the consequences. Let's say you managed to get him involved in this industry. And happened a market price crash which caused huge loss on his assets. Ofcourse it would be easy to just say 'hold' but how would he feel? Not all people can tolerate risks.

[Fivestar4everMVP]

Goes a long way to prove to us that alot of people out there who are anti bitcoin do not truly understand what bitcoin stands for, it's rather  unfortunate though, for they wallow in ignorance and this cost them alot of money without them even knowing it.

But me here though, I will never try to convince anybody about bitcoin, I can stand up for bitcoin anywhere, but will never try to convince you to invest in it, thats your personal decision to make, I've convinced alot of people before who tend to end up seeing me as bad person when the price of bitcoin drops, and takes a bit of time to go up, so for me, I will tell you all the benefits of bitcoin, on the technological aspect, but wil never go the investment side of it.

[Nheer]

He was like, no no no, something that will just disappear from the radar.

This is a common opinion concerning bitcoin. prior to becoming enlightened, I had the same thought as well. Nowadays, people just make assumptions without ever checking to see if they are accurate.

I couldn't believe it!!! Can you imagine like a play, I was able to convince a whole CBN man to do 1BTC? But I hope he doesn't change his mind. Even if he does, I'm proud to have stood for Bitcoin in such a situation.

You did well, and I am impressed by how you pushed for bitcoin and were able to raise someone's understanding of it. It's awful how some individuals immediately assume that bitcoin can only be used for illicit purposes based on what they have heard, and some even think that it's a Ponzi scheme.

. I say this because you should not let the position occupied by some people make you feel that they cannot be convinced about bitcoins, if you try and it does not work, that is different from just concluding that because of their position they cannot be convinced, that is a wrong assumption.

Nicely put, individuals frequently become frightened by others' position and make unjustifiable conclusions as a result. No matter where they work or what position they have, if you can communicate with them, you can convince them as well. It's comparable to how you might fall for a woman who is completely out of your league and eventually win her heart.

[dansus021]

It is great if you convinced your neighbor to buy 1 Bitcoin but you must know the consequence because if those 1 BTc price plummets you might be one person to hear all the angry and sadness and maybe can hurt your relationship.

If I were you I will tell him that needs to learn more about Bitcoin and always do your own research before investing.

[Z390]

Everything about this is wrong, he still needs his son means he have no confidence in this investment, why try to force anyone to invest in Bitcoin? because he has the money? If something happens you will be blame.

This person need to learn about Bitcoin and other risks that are involved, if the bear market takes longer than we expect what do you think will happen? I don't see any confidence or trust in Bitcoin reading the texts between you two.

I only see someone investing on Bitcoin because he is been told to do so.

[SatoPrincess]

The conversation later got private, and below was the concluding part I remember;

Me: Let what you use your coin for judge you sir, Bitcoin is a good investment, and not evil.
Neighbour: Are you really sure???
Me: 99.9999%.
Neighbour: Your living standard shows this could truly be positive. My son and wife have disturbed me on this on several occasions, I am only stubborn about it. I'm in...I will use my son in the US for it, he knows about it, and it is against my work here in Nigeria.
Me: Smiles, I know.
Neighbour: Thanks man...I will start with 1BTC if only you show me proof that you have a sufficient amount in there.
Me: I gat you sir...there is nothing to gain by lying to you. It's your coin, your money and yours to safely keep...I have nothing to gain or lose.
Neighbour: Okay

I couldn't believe it!!! Can you imagine like a play, I was able to convince a whole CBN man to do 1BTC? But I hope he doesn't change his mind. Even if he does, I'm proud to have stood for Bitcoin in such a situation.

I understand that you may see this as a victory for bitcoin, and I hope you took into account that your neighbor whom you convinced to buy 1 bitcoin, which is not a small amount btw, will be looking to make profits from his investments and will hold you responsible if he incurs any loss. And I can’t blame him because judging from your discussion with the man, you give him the impression that bitcoin is a get rich quick scheme.
You aren’t entirely innocent in this case because you refused to tell him the risks. Can your neighbor afford to lose $27,000? He obviously wasn’t thinking, a newbie should not be investing so much, after only a brief conversation. I’m sorry to say but sounds like your neighbor can easily get scammed.

[Russlenat]

You know you have done your part OP. It's a good thing that you're knowledgeable enough to defend Bitcoin against fiat supporter. However, always know that you're not oblige to convince that man, or anyone else in this world. But as long as they have now understand the real purpose and potentials of Bitcoin, then that could stop them from hating Bitcoin based on their misconception.

[Ojima-ojo]

Mate first you need to be very careful with the individual in question and never let go of your privacy since that is what makes him attracted to him in the first ace, I wonder how he will feel if the bitcoin market faces a great downturn tomorrow and while he already owns his 1BTC.


I will advise you never to let him know your financial state and what your account is on the forum, thos is real-time to practice total privacy.

[glendall]

nice try to convince someone about btc ,
there are many bank employees in my country who believe in btc, it will be profitable to invest in btc, but believe it is not a guarantee for them to invest in btc there are many considerations they say, but there are also some who invest in btc by setting aside their salary for btc, the point is they have not ready with the risks involved when investing in btc, when the market is not doing well

[Truthlovecoins]

Am very sure the manner in which anyone starting out on a BTC journey is dependent on the manner in which they were approached.
I had a need to learn how to use BTC because I found myself in an environment that understand its use. I also was and still is the one asking about the technical terms and aspects I should understand and look out for inorder to get the best from it.
Your friend, the CBN director has the money, so he wouldn't mind trying out BTC as an investment he might likely not gain from should the worse happen. To someone else like me, it would have taken more than a whole year to have convinced me and even if I do buy the idea, how to come up with the funds for 1btc would become an issue too.

[lixer]

Anyways, the man is not to blame; he's basically the old-school kind of man, not concerned about the new technologies, but it's good you never hid the truth from him. Well, if it's ever possible, I believe everyone should be told the truth about Bitcoin because there are a lot of misconceptions about it. Look how the man thinks Bitcoin is evil; even the fact that he works with CBN, who are in charge of controlling money, he just can't relate to it that even the money we talk about is being used to commit a lot of ill-conceived activities. The use of money, both faith-based cash and digital currency like Bitcoin, to commit illegal activities is inevitable; it can never be totally eradicated, and the only way to do so is to stop the illegal activities first.

One thing most people fear about Bitcoin is its price volatility and instability, but Bitcoin cannot be stable. That's really why it's a store of value as well, because if one holds his or her Bitcoin for the bull market, they sure will get some profit, but when the same person holds a huge amount of money for like four years, they will be surprised that the value of the money has even reduced, and even the added interest will not mean anything. It's good you changed her perception of Bitcoin.

Some people are still living in old times, the times when Bitcoin just started getting famous and people, especially central authorities and mainstream media started showing a negative image of Bitcoin by saying it is a currency of criminals and is used for illegal activities, a lot of people believed in what they said and stayed away from Bitcoin.

Those people greatly regret their decisions these days but they can do nothing anymore, so letting people know about the reality of Bitcoin if they don't get it is actually good for them and not for Bitcoin since Bitcoin won't stop only because these people don't believe in it.

[EarnOnVictor]

So my question, do you still see price returning to $20K or otherwise happy to buy at $30K, if you missed out on $25K? O did I miss your return to being bullish again at a certain price level?

Thanks for the question. One thing about me is that I'm a dynamic trader and I trade only the trend of the market, and I could decide to trade any time frame today or use multiple time frames which I do often. By this, a lot of signals have been detected after opening this topic and I'd bought and sold the market for good by the guide of the 4H and 1D charts aside from the 1W pattern.

I also partook in the last bullish movement that happened recently. After all, it's about making money irrespective of where the market face.

Because they work in a the central bank of your country does not mean that they do not have and hold beliefs of their own or mean that they will be difficult to convince to the  side of bitcoins.

I wasn't the first person to talk about Bitcoin with this man, so he's stubborn. And if you saw the way he was talking, you would understand that he was an anti-Bitcoin indeed. And the nature of his job warrants it, he might hold a solid stance on the coin because such like him could still be the CBN governor with time and has the right to preserve their objection.

Everything about this is wrong, he still needs his son means he have no confidence in this investment, why try to force anyone to invest in Bitcoin? because he has the money? If something happens you will be blame.

Did you get the gist at all? I wasn't trying to beg or force anyone to invest in Bitcoin. It all started with me personally defending Bitcoin when he was ridiculing it. It was one thing that led to another which eventually made him conclude he would invest in the coin, and hence what led to my title.

Also, by the nature of his job, he might be smart not to handle it by himself, and if he trusts his son that understands Bitcoin to that level, why not?

[demonica]

If I understand it correctly, you had a discussion about Bitcoin, and your neighbor was somehow against it because your neighbor thinks that it's used for illegal transactions or something. But then, after having a long conversation, you were able to persuade your neighbor to try and invest in Bitcoin?

Okay first, it's understandable that your neighbor think of Bitcoin in that way since he's working in the central bank. Let's be honest that there are a lot of huge and suspicious transactions involving Bitcoin or crypto so he's probably aware of that. And you should've expected that kind of response when you first asked him about Bitcoin. Idk but it feels like you took his response quite personally, saying a lot to defend Bitcoin. Or is it just me who read it that way? Nevertheless, it's still nice to know that you were able to convince your neighbor to try exploring Bitcoin.

[pawanjain]

@EarnOnVictor I hope you didn't forget to mention to your neighbor that bitcoin is a volatile asset and it's price might increase/decrease based on the demand and supply.
You wouldn't want him coming to you just in case bitcoin price declines just after he made an investment.
He might already be knowing this though since he is working for the bank.

[Synchronice]

He was like, no no no, something that will just disappear from the radar.

Tell to absolutely every person, that thinks like that to register on Centralized exchange (they don't need decentralized one), choose the Futures Trading and short sell bitcoin. If they think that Bitcoin's price will go down to zero, they can short sell with 100x leverage and make enormous profit, enough for the rest of their life.

I couldn't believe it!!! Can you imagine like a play, I was able to convince a whole CBN man to do 1BTC? But I hope he doesn't change his mind. Even if he does, I'm proud to have stood for Bitcoin in such a situation.

Is this a made-up story or a real one? Because one Bitcoin is a huge money, especially in Nigeria and it's hard to agree someone to invest 30K in something that person has no idea with such a simple dialogue.

[Blitzboy]

I must admit, your narrative captured my attention. You've managed to engage a CBN executive in a substantive conversation about Bitcoin. Now, that's commendable! But, might I remind you that the 'devilish thing', as he so delightfully put it, is, in fact, traceable. Remember, every Bitcoin transaction is permanently recorded on the blockchain, accessible to anyone who knows how to read it. The devil is in the details, as they say.

Im critical of your neighbour's view because it seems as though he is forming an opinion on a subject he admittedly knows little about. But you stood your ground, which is admirable. So, here's to you for not being 'a bastard of BTT', whatever that means! And while I appreciate your zealous defense of Bitcoin, it is necessary to acknowledge that it has been used for illicit activities. But as you rightly said, so has fiat money. The tool isn't inherently evil, its usage is what determines its goodness or badness.

[Onyeeze]

It is great if you convinced your neighbor to buy 1 Bitcoin but you must know the consequence because if those 1 BTc price plummets you might be one person to hear all the angry and sadness and maybe can hurt your relationship.

If I were you I will tell him that needs to learn more about Bitcoin and always do your own research before investing.

People in the neighbourhood has already know the important of bitcoin and convincing them to buy bitcoin is right but when goes wrong after you convince them buy bitcoin they will hold you responsible by misleading to buy what he or her have not appropriately known about, some times we need to give people information and allow them to make a decision even though they have not come contrary to bitcoin  but they have some percentages right to make a decision before buying bitcoin of their choice, the needful there is to make sure that you have educated them of relevant of bitcoin in the society and don't push them or neither force them to buy bitcoin, I have made it clear that if push anyone or convinced the person to buy bitcoin when the market is on bearish market the people you convinced will blame you of discouraging them

[KiaKia]

Lol, this made me smile because I have people who gave me the same answer about Bitcoin, it's devilish, others said it's a scammer's tool on the internet, and yes some scammers do use Bitcoin for their criminal acts.

I believe that many people in the world are still confused about bitcoin till this date and they are so stupid about it that they don't bother to do some research on their own, they just assume that it's bad.

There isn't anything we can do than trying to teach them right when we come across such people, and if they are smart, they will listen.

[CryptSafe]

I strongly believe these men are fully into Crypto but the law governing the system where they find themselves would not allow them to do so. From your conversation at first I observed that he had to put up some form of  ignorance not minding he is a banker and a director for that matter. These are just what they do to divert attention from them. Most of them do Crypto and own bitcoin secret or would you tell me that they know nothing about it and it's importance?
Lastly from your chat log, he made it clear to you that that his son and wife keeps on troubling him about it but the law within the CBN does not allow it which means they are fully aware and possibly he is just denying the fact that he has something doing with it.

[jrrsparkles]

@EarnOnVictor I hope you didn't forget to mention to your neighbor that bitcoin is a volatile asset and it's price might increase/decrease based on the demand and supply.
You wouldn't want him coming to you just in case bitcoin price declines just after he made an investment.
He might already be knowing this though since he is working for the bank.

The story doesn't seem legit to me, because how someone will throw 30K to invest on something in just minutes when they have been stubborn against using it cause they thought it is bad. And since he mentioned the person is working for the central bank which is also banned the usage of cryptocurrencies in any manner in Nigeria so if the person is doing it then he is violating the banks guidelines which may end up getting fired from the job.

[pawanjain]

@EarnOnVictor I hope you didn't forget to mention to your neighbor that bitcoin is a volatile asset and it's price might increase/decrease based on the demand and supply.
You wouldn't want him coming to you just in case bitcoin price declines just after he made an investment.
He might already be knowing this though since he is working for the bank.

The story doesn't seem legit to me, because how someone will throw 30K to invest on something in just minutes when they have been stubborn against using it cause they thought it is bad. And since he mentioned the person is working for the central bank which is also banned the usage of cryptocurrencies in any manner in Nigeria so if the person is doing it then he is violating the banks guidelines which may end up getting fired from the job.

How is it violating the bank guidelines ?
What he does with his money is none of the banks business. He can buy anything he wants as long as it is not illegal to do it.
Crypto is not illegal in Nigeria and so that person can buy bitcoin with this income. I am sure many bankers would be holding crypto.

[initim]

Honestly, I like to mind my business, but I got it loose yesterday evening when a co-neighbour invited all of us to a birthday party. Normal, gist went on until this elderly neighbour working for CBN (Central Bank of Nigeria) as a director in one of their branches stated that people now launder money in Bitcoin thereby making it difficult for the law enforcers to trace. This is where I took it personally, else I would have been a bastard of BTT.

Me: Let what you use your coin for judge you sir, Bitcoin is a good investment, and not evil.
Neighbour: Are you really sure???
Me: 99.9999%.
Neighbour: Your living standard shows this could truly be positive. My son and wife have disturbed me on this on several occasions, I am only stubborn about it. I'm in...I will use my son in the US for it, he knows about it, and it is against my work here in Nigeria.
Me: Smiles, I know.
Neighbour: Thanks man...I will start with 1BTC if only you show me proof that you have a sufficient amount in there.
Me: I gat you sir...there is nothing to gain by lying to you. It's your coin, your money and yours to safely keep...I have nothing to gain or lose.
Neighbour: Okay

I couldn't believe it!!! Can you imagine like a play, I was able to convince a whole CBN man to do 1BTC? But I hope he doesn't change his mind. Even if he does, I'm proud to have stood for Bitcoin in such a situation.

The people that work in this type of parastatals do have a good knowledge and benefit of Biticion however most are handicapped especially when their country does not support it .
Bitcoin can be done privately, except if you divulge your information, nobody will know if you own a wallet but most people don't know this and tend to stay away. I don't see this as a threat to anyone aside from a way to invest and make more money while in paid employment. From the conversation I read btw you and your neighbor, I don't see your neighbor as a rigid person all your neighbor needed was a push and you were able to achieve that.

[Adbitco]

OP You have worked hard to persuade a CBN staff member who was warned to avoid Bitcoin due to the Nigerian government's reluctance to legalize it. As a result, the CBN staff has no right to publicly invest in Bitcoin, but they must be interested in Bitcoin investing because they are aware of how transparent Bitcoin transactions are.

Usually we all love doubling our profits or to have a multiple stream of income nowadays people or bankers are working under their country law that governs the banking sectors in other to protect the interest of their offices and secure their jobs.

Publicly he may criticized bitcoin but that doesn't mean secretly he doesn't want to invest in bitcoin. Lets say for instance, even the so called SEC are into bitcoin and I believe they are having enough volume of it as no one wants to be left behind but are seriously trouble exchangers for not being regulated and many more.

[jrrsparkles]

@EarnOnVictor I hope you didn't forget to mention to your neighbor that bitcoin is a volatile asset and it's price might increase/decrease based on the demand and supply.
You wouldn't want him coming to you just in case bitcoin price declines just after he made an investment.
He might already be knowing this though since he is working for the bank.

The story doesn't seem legit to me, because how someone will throw 30K to invest on something in just minutes when they have been stubborn against using it cause they thought it is bad. And since he mentioned the person is working for the central bank which is also banned the usage of cryptocurrencies in any manner in Nigeria so if the person is doing it then he is violating the banks guidelines which may end up getting fired from the job.

How is it violating the bank guidelines ?
What he does with his money is none of the banks business. He can buy anything he wants as long as it is not illegal to do it.
Crypto is not illegal in Nigeria and so that person can buy bitcoin with this income. I am sure many bankers would be holding crypto.

If I am not wrong a year back Nigerian central bank issued some notice to all the bank's to halt crypto related transactions which is possible even if the government didn't ban it so if that is still in practice using bank account to buy or sell Bitcoin is prohibited and bank can freeze the account with such reason alone.

[Hyphen(-)]

Usually we all love doubling our profits or to have a multiple stream of income nowadays people or bankers are working under their country law that governs the banking sectors in other to protect the interest of their offices and secure their jobs.

Publicly he may criticized bitcoin but that doesn't mean secretly he doesn't want to invest in bitcoin. Lets say for instance, even the so called SEC are into bitcoin and I believe they are having enough volume of it as no one wants to be left behind but are seriously trouble exchangers for not being regulated and many more.

Exactly!

They invest in Bitcoin in secret, and because the Bitcoin system is decentralized and anonymous, it will be very difficult to trace or track their identity; thus, they will appear innocent and kick against Bitcoin in public just to protect their positions and offices because that is their source of income.

If I am not wrong a year back Nigerian central bank issued some notice to all the bank's to halt crypto related transactions which is possible even if the government didn't ban it so if that is still in practice using bank account to buy or sell Bitcoin is prohibited and bank can freeze the account with such reason alone.

And do you believe individuals are still not using banks to conduct Bitcoin transactions?

The truth is, certain banks really desire such transactions since they make money from them, thus they provide some possible means for their customers to conduct such transactions because of the percentage they would receive.

Furthermore, I see no reason why people should continue to make their Bitcoin investments public when there are options to invest without going via the banking system via p2p and other means.

[Victorik]

Well, you have done very well for the Bitcoin community. But I hope it doesn't turn sour eventually, considering the fact that the price fluctuate and his investment can seem to have reduce. But I know in the long run, if he is patient enough he will thank you later.

[hannahB4]

You will be amazed how many people who worked at financial institutions are using Bitcoin. Is not a matter of where one works but the understanding and wisdom one has to things. You tried your best to make him see from your point of view but I don't like it when there are subjects about one enforcing or arguing about bitcoin with others. For me I don't need to talk about it my life always do the talking when they see me doing well they tend to ask about and I explain it to as many who care.

[The Cryptovator]

Explaining Bitcoin to individuals with a centralized mindset can be quite challenging. Often, they vehemently oppose Bitcoin without truly comprehending its inner workings. If they were to genuinely understand what Bitcoin is and how it functions, they might consider investing in it instead. Nevertheless, you deserve credit for effectively illustrating Bitcoin to a bank officer who operates within a centralized banking system.

[panganib999]

Honestly, I like to mind my business, but I got it loose yesterday evening when a co-neighbour invited all of us to a birthday party. Normal, gist went on until this elderly neighbour working for CBN (Central Bank of Nigeria) as a director in one of their branches stated that people now launder money in Bitcoin thereby making it difficult for the law enforcers to trace. This is where I took it personally, else I would have been a bastard of BTT.
(...)

Haven't you overreacted there a bit? It doesn't sound like he was bashing Bitcoin in that statement.. If you don't link your identity with your bitcoin address in any way, then tracing it back to you would be impossible, so he wasn't wrong there. As for using Bitcoin for money laundering - I don't think it's a good tool for that (depending on the local laws I guess). Laundering does not mean hiding your money, but making illicit proceedings appear legit, so using Bitcoin alone won't help here, as you'd still need to be able to explain where did you get all those bitcoins from.

Lmao I think so too. I honestly wouldn't go out of my way to defend bitcoin against people especially if there's no benefit to bitcoin or to me with the argument, but to each their own I guess. And while I agree with the fact that depositing bitcoin alone isn't enough to "wash" the dirt out of your money that you want laundered, there are ways to do so. Mixing bitcoins and cryptocurrency for one which in the past are just used to make bitcoins you own anonymous again are now being used or at least I suspect of being used by bad actors in the industry to launder money, so while you guys are correct with bitcoin not being great in itself as a money laundering tool, there have been methods that these people saw as a tool to launder money anyway, so the neighbor in a sense is still correct.

All in all, not gonna argue with people who are like that. props to op i guess for convincing an indignant bitcoin hater to appreciate bitcoin but I personally won't go out of my way to just defend bitcoin lmao.

[serjent05]

Explaining Bitcoin to individuals with a centralized mindset can be quite challenging. Often, they vehemently oppose Bitcoin without truly comprehending its inner workings. If they were to genuinely understand what Bitcoin is and how it functions, they might consider investing in it instead. Nevertheless, you deserve credit for effectively illustrating Bitcoin to a bank officer who operates within a centralized banking system.

I agree with you.  I have tried to explain Bitcoin on one of my friend who work at the government office.  He then questioned me on how Bitcoin will work if there is no centralized authority, he also asked me how a decentralized entity can be maintained when there is no authority maintaining the process.  I explained it to him but in the end he thinks that Bitcoin is just something created to scam people.  I did not argue with him since he has made up his mind not to trust Bitcoin.

[traderethereum]

Most people only judge from the outside without trying to discover or learn what's behind it all.
Issues consume them and what other people say but they don't want to try to find out, causing wrong perceptions.
Bitcoin can be used for good and bad, depending on one's intentions and we have already seen what many people gain from using Bitcoin as an investment.
They managed to get a lot of profit while some people did illegal things using Bitcoin and the media exposed that so people immediately accused Bitcoin of bad things.
If more people find out about Bitcoin, they will realize that there are more benefits they can get than using it for bad things that can violate government regulations.
Do not judge the book from its cover

[southerngentuk]

Being in a situation where maybe one guy understands and many others do not, I think they will still feel guilty about this. As a person working in a central bank, getting them to accept and use bitcoin is a big deal. impossible thing. They work, they learn knowledge in the field of finance and banking, and they get a job in the bank. While you try to push them to use bitcoin. As we know, bitcoin and banking are opposites of each other. So they will have a completely different view of bitcoin, even if it has its good sides. But your neighbor's case is still positive anyway because he already has a better overview than just being confined to one aspect of his job.

[Mpamaegbu]

I'm sure that some of your colleagues are using and investing in it, only that you won't know.

Definitely, that's what's happening. Your neighbour isn't the sociable type, otherwise he would've known there were some of his colleagues who were into Bitcoin investment. I've a friend who works for a multinational company, he said whenever the issue of Bitcoin or cryptocurrency bashing came up in the office he would act like he hadn't any idea of what it was. He said he didn't have the strength of convincing those who had already made up their minds what not to reason. They were only two of them who were into it in that office. My friend has been investing in lunchpads and making extra bucks behind the scene. It's the same thing I would do in such an environment. For privacy sakes, I don't let those around know me know this day that I'm into Bitcoin stuff. I did the "telling everyone" thing when I started way back 2017 –2018. I can easily teach people online but not those around who aren't in my circle of friends.

I couldn't believe it!!! Can you imagine like a play, I was able to convince a whole CBN man to do 1BTC?

Don't see it that way. Nothing makes him "whole". Some of those well placed individuals are ignorant of certain little things. I got the shock of my life when I asked a banker neighbour of mine a few years ago if he was into Forex trading only for him to get lost. Dude started asking me what Forex trading was. I thought he was joking until we started talking and I realized he wasn't joking. A banker, not knowing what Forex trading was the height of entitlement. It's the same thing with a CBN staff not having an iota of idea what Bitcoin is.

[RockBell]

At first i thought your conversation with your neighbor ended in a big argument lol but it seems that it didn't at all, i read your conversation with your neighbor from the start and it seems that your neighbor is a person who is easily provoked but is careful in taking a stand.  anyway, do not be surprised when hear that people from banks do not believe in and are against bitcoin because indeed they feel that bitcoin and the cryptocurrencies that are currently spreading are a big threat to the continuity of the bank's business. 

after you introduce bitcoin to him, it's a good idea to also remind him about the volatility of bitcoin prices and never sell when the market is bearish, then recommend the best and safest personal wallet that he should use.

I once had an encounter with a contractor who claimed that Bitcoin will crash one day and that he would personally not invest any money in it. Ultimately, I came to the conclusion that everyone is free to hold their own opinions, so whatever he decides is his choice. Getting back to the discussion, some people are easily agitated when the argument is not in their favor. I don't understand why bankers are against Bitcoin when most of them are undoubtedly involved, In addition, you mentioned that investing in Bitcoin carries its own danger and that it's important to be aware of con artists' schemes. Finally, keep your seed phrase online, and don't store your keys or your money anywhere else.

[erep]

I agree with you.  I have tried to explain Bitcoin on one of my friend who work at the government office.  He then questioned me on how Bitcoin will work if there is no centralized authority, he also asked me how a decentralized entity can be maintained when there is no authority maintaining the process.  I explained it to him but in the end he thinks that Bitcoin is just something created to scam people.  I did not argue with him since he has made up his mind not to trust Bitcoin.

We don't force anyone to believe our explanation about bitcoin but at least we have tried to explain the real bitcoin knowledge to him because he wrongly argued about bitcoin knowledge from the wrong source information, I'm sure your friends will contact him when they realize his real knowledge about bitcoin.

But there are many unique facts among the public, because the majority of ordinary people easily understand bitcoin knowledge and improve their analytical skills to study bitcoin further, but groups of people working in government including bank workers are very difficult to convince them because they don't believe bitcoin is not centralized and they believe that Bitcoin can be controlled at any time

[Blitzboy]

I agree with you.  I have tried to explain Bitcoin on one of my friend who work at the government office.  He then questioned me on how Bitcoin will work if there is no centralized authority, he also asked me how a decentralized entity can be maintained when there is no authority maintaining the process.  I explained it to him but in the end he thinks that Bitcoin is just something created to scam people.  I did not argue with him since he has made up his mind not to trust Bitcoin.

We don't force anyone to believe our explanation about bitcoin but at least we have tried to explain the real bitcoin knowledge to him because he wrongly argued about bitcoin knowledge from the wrong source information, I'm sure your friends will contact him when they realize his real knowledge about bitcoin.

But there are many unique facts among the public, because the majority of ordinary people easily understand bitcoin knowledge and improve their analytical skills to study bitcoin further, but groups of people working in government including bank workers are very difficult to convince them because they don't believe bitcoin is not centralized and they believe that Bitcoin can be controlled at any time

People who dont operate inside conventional financial frameworks are often more open to Bitcoin's novel ideas. It seems that your understanding of Bitcoin's potential grows as you go away from the banking system.

However, we must not give up hope. As proponents of this ground-breaking technology, it is our duty to debunk myths and promote Bitcoin. Both no, it cannot be controlled arbitrarily and yes, Bitcoin is decentralized. We need to actively and continuously share these realities.

But keep in mind, we are not here to persuade anybody to believe in Bitcoin. Lets continue to state the truthfully and plainly the facts, instead. Our case's persuasiveness and Bitcoin's growth will eventually speak for itself. Therefore, let's be optimistic and steadfast in our goal.

[Viscore]

Explaining Bitcoin to individuals with a centralized mindset can be quite challenging. Often, they vehemently oppose Bitcoin without truly comprehending its inner workings. If they were to genuinely understand what Bitcoin is and how it functions, they might consider investing in it instead. Nevertheless, you deserve credit for effectively illustrating Bitcoin to a bank officer who operates within a centralized banking system.

True. What OP did was quite challenging especially if the person you’re going to convince holds a higher position in a centralized bank. There will be a contradiction of beliefs and thoughts as expected, but kudos to OP as he successfully convinced his neighbor and believe on what is fact and not rely on hearsay or rumor that is often absorbed by anti bitcoin community. Hopefully, the officer will start to be more open minded particularly on bitcoin and the whole crypto system as not all the time the government beliefs are true and reasonable.