Impact of the current tap airdrops on the fight against crypto vs Gov

[Wiwo]

My people, I greet una special, here is a quick one, but  as the topic already stated clearly, let me add a few line to make it more clearer.

Tapping have becomes a new norms with Nigeria youths and even primary and secondary students are tapping all with the attempt to grab some free money from the cryptocurrency market, this new way of farming airdrop of newcoins came at a time when the Nigeria government infersified it fight against cryptocurrency that they the point of the EFCC and cbn ordering banks to block the account of anyone that involve in cryptocurrency trading.

But reverse seems to be the case, I because cryptocurrency just gained more popularity in the Nigeria market as those that don't know about cryptocurrency before now have interest in farming those memecoins on their mobile phone, this made it impossible for the government to even have a time to figure out what to do because 90% of young people now engage in cryptocurrency which is a number that the government can not take down.

So what do you think, the on the government fight against cryptocurrency and how have it yield any success, or have it add fuel to the fire that flame up the love for the adoption of crypto in Nigeria?

[Charles-Tim]

So what do you think, the on the government fight against cryptocurrency and how have it yield any success, or have it add fuel to the fire that flame up the love for the adoption of crypto in Nigeria?

To be specific, what the government against are P2P transactions. There are other means you can exchanges your coins to naira and vice versa but P2P on the centralized exchanges are better because they have the best exchange rates. That is why people like to use it. Government are not against cryptocurrencies but P2P trading that is leading to what they called naira manipulation. Donot get me wrong, not that I agree with how the CBN linked cryptocurrencies to naira manipulation. To stop P2P will be very difficult.

[Amphenomenon]

So what do you think, the on the government fight against cryptocurrency and how have it yield any success, or have it add fuel to the fire that flame up the love for the adoption of crypto in Nigeria?

To be specific, what the government against are P2P transactions. There are other means you can exchanges your coins to naira and vice versa but P2P on the centralized exchanges are better because they have the best exchange rates. That is why people like to use it. Government are not against cryptocurrencies but P2P trading that is leading to what they called naira manipulation. Donot get me wrong, not that I agree with how the CBN linked cryptocurrencies to naira manipulation. To stop P2P will be very difficult.

I think the only P2P they could halt are those from foreign exchanges stopping our local vendors currently seems almost from the fact that even if they made cryptocurrencies activities completely illegal in Nigeria, which as it stands is almost impossible also, these vendors will find an alternative to continue their business, while also many will flood the Dex market and Non-kyc exchanges.

So what do you think, the on the government fight against cryptocurrency and how have it yield any success, or have it add fuel to the fire that flame up the love for the adoption of crypto in Nigeria?

To be frank this didn't fuel the recent raise in the adoption rate instead I think it slightly reduced it since I saw someone who was scared to Invest in cryptocurrency earlier this year when the CBN restriction came up again.
Though I think with time such people will also adopt cryptocurrencies even if this law still stands from the fact that we're all trying to have a better life and overcome economic hardship even with the fact that we often need various source of income and Invest also rather than save in order to be free.

[Hatchy]

To be frank this didn't fuel the recent raise in the adoption rate instead I think it slightly reduced it since I saw someone who was scared to Invest in cryptocurrency earlier this year when the CBN restriction came up again.
Though I think with time such people will also adopt cryptocurrencies even if this law still stands from the fact that we're all trying to have a better life and overcome economic hardship even with the fact that we often need various source of income and Invest also rather than save in order to be free.

That's the truth of the matter. The only thing the governments action did was to make people more aware about cryptocurrency. But then, their actions in shutting down most p2p exchanges was unnecessary and caused fear the the mind of so many young investors to might have been thinking of getting into the cryptocurrency market before the bull seasons.
 not much harm was done as we had seen from the past months regards these tap games. It drove most if the public especially the young and youths into cryptocurrency market. Though to me they are getting the wrong idea about cryptocurrency been too easy, I still thing it drove the adoption rate a lot.

[Obari]

Personally, I don’t think the government was fighting simply because they’re against because I believe a lot of them already knows the importance of bitcoin and cryptocurrencies in general in the economy and as I such I think the government was trying to bend the crypto industry to their favour and as it stands now, it seems they’re already winning the fight to that direction.

The only thing is that even the taxes on the transactions will not be used for the right course as it will also end up as another looted fund and indirectly, that’s just like exploiting the youth and this generation and its citizens

[Felicity_Tide]

 I think the rules and restrictions that the government has imposed, seems like a joke, as more users are now moving towards crypto. I can't really agree with the 90% of youths joining the crypto space, but I think a good number of youth are already into it. I made a post on this same board some weeks back, where I shared my experience: on how I heard students who should probably be in j.s.s1-3, discussing about cryptocurrency. Though, they literally don't know what it means, but the financial aspect of it is attracting so many.

So what do you think, the on the government fight against cryptocurrency and how have it yield any success, or have it add fuel to the fire that flame up the love for the adoption of crypto in Nigeria?

Truth be told, I think this ban is not good, even though we are still able to use cryptocurrency in some way. Their ban and tough restriction didn't change much, but I think it still has a way of slowing down adoption. The reason why we see more Nigerians still showing interesting, especially through new projects that comes in different form of airdrops (tapping, referrer, etc), is because Nigeria is a place that is easily moved by trends. You and I know very well that things can easily trend in this country, especially with the presence of social media ( a driving force). So, I think, as long as social media and internet exist in the country, the government's restrictions can't cause much harm, but it would slow the adoption rate somehow.

[CryptopreneurBrainboss]

But reverse seems to be the case, I because cryptocurrency just gained more popularity in the Nigeria market as those that don't know about cryptocurrency before now have interest in farming those memecoins on their mobile phone, this made it impossible for the government to even have a time to figure out what to do because 90% of young people now engage in cryptocurrency which is a number that the government can not take down.

Reverse was always going to be the case because you no fit see wetin dey make people see front and you wan come end am. Cryptocurrency has done more for the youths than the government has and I'm including both the legit way and illegal way because all contributes to the growth of the economy. But the rate at which this tapping apps dey become popular, fear dey say scammers fit leverage on this fame to defraud plenty people wey no know their left from their right for this industry.

So what do you think, the on the government fight against cryptocurrency and how have it yield any success, or have it add fuel to the fire that flame up the love for the adoption of crypto in Nigeria?

How convenient are you able to trade Bitcoin to Naira, can do you do large volume transactions without being afraid that your account will be flagged. The governments dun succeed in one aspect but they also made the industry more popular because the rate at which people are coming into the industry dey increase. We fit still give the success to the testimony wey people wey dun cash out they give but also Nigerian government been give Bitcoin free publicity with their attacks.

[EluguHcman]

The tapping of the air drops coins which has possesed our people with the struggles on farming and accumulating of the crypto coins is not more a new thing as the influence of the mining projects by tapping gas got an eased as at these days.

It was actually a dominance competitive games or farming for crypto Coins in our society because participants most especially newly crypto enthusiasts was hoped that as the hyping or the project speculates with its influence, so also they could make quick money that was why our people were so dedicated in the project. But being what was not expected because it has taken too long now for the coins to be launched and listed in exchange for participants to to earn realistically of their struggles with their accumulations, it becomes tiring t them which has lead to the cause of ease how which it takes too much times of participants playing the game.

The impact of the tapping coins has actually made cryptocurrencies more viral and more enthusiasts has adopted the use of crypto currencies.

[Ishicryptic]

The ongoing tap airdrops that many people are currently engaged in has greatly increased the awareness of cryptocurrency in the country, many are looking for new ways to make money and they have seen cryptocurrency as a way out. The government has to accept the fact that Nigerians are embracing cryptocurrency like many people around the world and it will be good for them to give necessary support by ensuring a favorable environment for crypto users in the country.

Government restrictions through Banks not to facilitate cryptocurrency transactions and the restrictions on some major centralized exchanges not to facilitate naira p2p transactions in their platforms will not allow for increased adoption in the country. Some people will still be skeptical about cryptocurrency because the government is not giving a free hand for cryptocurrency transactions in the country. Despite the government lack of support for cryptocurrency, many Nigerian youths are coming into it because it is a source of making money legitimately.

[knowngunman]

So what do you think, the on the government fight against cryptocurrency and how have it yield any success, or have it add fuel to the fire that flame up the love for the adoption of crypto in Nigeria?

Well, you have raised a good topic for discussion but I see no different because nothing has changed from the end of our government. We can only jubilate when government reverse all the strict regulations made against cryptocurrency and those that involve in it.

Moreover, these people tapping their phone with the intention of making some money are not crypto enthusiasts because they know nothing about cryptocurrencies and how the technology works. In as much as it's creating awareness about cryptocurrencies at a whole, I see it as setback because of things happening.

For those of us who already familiar with the system understand farming and airdrop and the outcome will not be surprising because we probably expecting nothing out of it. Some of these tappers are having a more reason to see crypto as a scam simply because the project refuse to pay them money as they were told. I have had a brief discussion with some of them around me and their comments on cryptocurrency were not encouraging at all.

To my surprise, one of them even told me that government is right for not allowing it to grow because he sees it as an attempt to be scamming people by wasting their time and not paying them money after their efforts and data they've been spending to tap. This was after avacoin launch yesterday and disappointed it miners.

The positive impact of the tapping projects seems to be lesser than the negative impact in my opinion.