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

[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.

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[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.