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

[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.