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 lines to make it clearer.

Tapping has become a new norm with Nigeria youths and even primary and secondary students are tapping all in an attempt to grab some free money from the cryptocurrency market, this new way of farming airdrop of new coins came at a time when the Nigeria government intensified its fight against cryptocurrency that they the point of the EFCC and CBN ordering banks to block the account of anyone that involved in cryptocurrency trading.

But the reverse seems to be the case because cryptocurrency just gained more popularity in the Nigeria market as those that don't know about cryptocurrency before now have an interest in farming those meme coins on their mobile phone, this made it impossible for the government to even have 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, about the government's fight against cryptocurrency and how has it yielded any success, or has it added fuel to the fire that lit 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.

[Davidvictorson]

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?

The Nigerian government fight against crypto currency from my research are basically - they think that accuse exchanges of using cryptocurrency to cause the fall in the naira. They are also fighting cryptocurrency because they say that people use it to fund terrorism in the Northeast and other parts of the country. And least I forget another reason is that money laundering. How can they be successful when they are yet to fix the underlying economic issues. How can they be successful when they are threatening young Nigerians? How can they be successful when the young Nigerians are suffering? These are the issues and many more are what is contributing to more Nigerians to investing in cryptocurrency. To put this in perspective for example, Cryptocurrency adoption in Nigeria has continued to soar despite the government's attempts to limit access, with transactions growing 9% year-over-year to $56.7 billion between July 2022 and June 2023 - source - Creditcoin Team

[Wiwo]

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 gives Bitcoin free publicity with their attacks.

Baba if na that one, forget oo, people the trade-in meter meter I mean mili mili daily and nothing dey happen, in fact I witnessed a scenerio recently in FCMB head office here in Abuja last week, as per say the bank near the popular zone 4 sharaton hotel junction the popular black market spot for a dollar and other assets including bitcoin and other cryptocurrencies, so the FCMB na one of the most used banks for those Aboki and them do know them well, so because of the recent raid by EFCC almost on weekly basis in the fight against digital and currency trading, they did change format now instead of the physical threading all of them move to online so them the entered bank to increase their bank limit to contain the large amount and the bank the happily do am for them, so them no stop people from the large transaction after all no one will label the transaction as a crypto transaction in the first place.

I still know vendors where dey do almost 1 BTC transactions so the matter eh, e no clear, but I just think to say the government just use that thing to scare people because they see say dollar just dey increase anyhow, and until now the dollar still the increase but not up to the amount it was when e almost reach 2,000 nairas before the EFCC and CBN fight started.

[DaNNy001]

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

Tapping has become a new norm with Nigeria youths and even primary and secondary students are tapping all in an attempt to grab some free money from the cryptocurrency market, this new way of farming airdrop of new coins came at a time when the Nigeria government intensified its fight against cryptocurrency that they the point of the EFCC and CBN ordering banks to block the account of anyone that involved in cryptocurrency trading.

But the reverse seems to be the case because cryptocurrency just gained more popularity in the Nigeria market as those that don't know about cryptocurrency before now have an interest in farming those meme coins on their mobile phone, this made it impossible for the government to even have 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, about the government's fight against cryptocurrency and how has it yielded any success, or has it added fuel to the fire that lit up the love for the adoption of crypto in Nigeria?

Airdrop mining has brought in a lot of people into the world of crypto, especially in the aspect of web3 games, over 80 percent of the population of Nigerians are now mining airdrops, this is actually a huge increase in crypto currency users all around the world, I don't think that the government can continue fighting against the use of crypto currency especially now that a lot of people are into crypto airdrops, I think it would be legalized in Nigeria soon it's just a matter of time.. indeed crypto airdrops has become a game changer

[AVE5]

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 gives Bitcoin free publicity with their attacks.

Baba if na that one, forget oo, people the trade-in meter meter I mean mili mili daily and nothing dey happen, in fact I witnessed a scenerio recently in FCMB head office here in Abuja last week, as per say the bank near the popular zone 4 sharaton hotel junction the popular black market spot for a dollar and other assets including bitcoin and other cryptocurrencies, so the FCMB na one of the most used banks for those Aboki and them do know them well, so because of the recent raid by EFCC almost on weekly basis in the fight against digital and currency trading, they did change format now instead of the physical threading all of them move to online so them the entered bank to increase their bank limit to contain the large amount and the bank the happily do am for them, so them no stop people from the large transaction after all no one will label the transaction as a crypto transaction in the first place.

I still know vendors where dey do almost 1 BTC transactions so the matter eh, e no clear, but I just think to say the government just use that thing to scare people because they see say dollar just dey increase anyhow, and until now the dollar still the increase but not up to the amount it was when e almost reach 2,000 nairas before the EFCC and CBN fight started.

Do you mean the banks or this specific FCMB do still processes crypto transactions but on coded due to how the government expected Nigerians to be devasted over crypto adoptions with the recent issues?
I'm not going to be in doubt of this if you say yes because I myself do already know that our top Oga's are Investing in the cryptocurrencies despites all that panics aroused in the country.
Infact, it seems hard for our government to resist crypto transactions being executed in the banks noting that it hasn't been pronounced an illegal technology even though it hasn't been authorized for legal tenders so, there's every possibilities that the bank than process huge amount of Bitcoin transaction as long the bitcoiner is ready for a deal on taxations with the banks.
The government might even be aware but wouldn't want to make it known because they're also benefiting from it while they don't make it obvious not to break the protocol of restrictions to the awareness of the public.

[Wiwo]

Do you mean the banks or this specific FCMB do still processes crypto transactions but on coded due to how the government expected Nigerians to be devasted over crypto adoptions with the recent issues?
I'm not going to be in doubt of this if you say yes because I myself do already know that our top Oga's are Investing in the cryptocurrencies despites all that panics aroused in the country.
Infact, it seems hard for our government to resist crypto transactions being executed in the banks noting that it hasn't been pronounced an illegal technology even though it hasn't been authorized for legal tenders so, there's every possibilities that the bank than process huge amount of Bitcoin transaction as long the bitcoiner is ready for a deal on taxations with the banks.
The government might even be aware but wouldn't want to make it known because they're also benefiting from it while they don't make it obvious not to break the protocol of restrictions to the awareness of the public.

Very right with this statement offcourse the government is aware of bitcoin and other digital currencies, and for sure you can see that with the way Donald Trump is putting bitcoin and crypto adoption at the centre of his presidential campaign this to show the level of awareness the guy has on crypto technology, same is with Nigeria and other part of the world, the government is aware of everything, and only when you cross the line the the law will cash up with you.

Alot of us are still dealing with crypto legitimately, but we can say of others who have chosen cryptocurrency as means of fraud and money laundering, those are what the government should be focused on dealing with, if their want to play the intermidamiary roles.

[HajiBagi]

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

Tapping has become a new norm with Nigeria youths and even primary and secondary students are tapping all in an attempt to grab some free money from the cryptocurrency market, this new way of farming airdrop of new coins came at a time when the Nigeria government intensified its fight against cryptocurrency that they the point of the EFCC and CBN ordering banks to block the account of anyone that involved in cryptocurrency trading.

But the reverse seems to be the case because cryptocurrency just gained more popularity in the Nigeria market as those that don't know about cryptocurrency before now have an interest in farming those meme coins on their mobile phone, this made it impossible for the government to even have 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, about the government's fight against cryptocurrency and how has it yielded any success, or has it added fuel to the fire that lit up the love for the adoption of crypto in Nigeria?

Did you hear that word that said you go explain tire no evidence, government go explain tire dem no go get evidence, if you see government stop cryptocurrency for Naija that means say some of them too go lose be that, did you know that some of this our government them too Dey hold bitcoin for hand? Them too Dey hold bitcoin for hand to that some people no get am, let me say na them be the corrupt people sef, them no fit ban crypto because e go touch everybody and if you look at it you will see that up to today them no fit stop am people they increase wey Dey get interest for crypto everyday.

You are talking about EFCC and bank wey them too don corrupt, nothing them fit do although bank they follow the instructions of blocking but you know say na Naija we Dey if bank block your account na them go chop that money even the EFCC get share for the money so as Nigeria wey we be no matter how them try men must find a way to chop because everybody don corrupt and as tap tap for airdrop don plenty now things don go far be that.

[Jaycoinz]

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

Tapping has become a new norm with Nigeria youths and even primary and secondary students are tapping all in an attempt to grab some free money from the cryptocurrency market, this new way of farming airdrop of new coins came at a time when the Nigeria government intensified its fight against cryptocurrency that they the point of the EFCC and CBN ordering banks to block the account of anyone that involved in cryptocurrency trading.

But the reverse seems to be the case because cryptocurrency just gained more popularity in the Nigeria market as those that don't know about cryptocurrency before now have an interest in farming those meme coins on their mobile phone, this made it impossible for the government to even have 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, about the government's fight against cryptocurrency and how has it yielded any success, or has it added fuel to the fire that lit up the love for the adoption of crypto in Nigeria?

A lot of people are actively involved in tap airdrops now and I see it as a brilliant way to get people started on their crypto journey, web3 games like tapswap, blum and hamster Kombat has gained a lot of users just in a short time, even the countries were the use of crypto currency is being shut down by the government still records high active participation of web 3 projects in those countries, this tells us that crypto currency is indeed the future and the movement cannot be stopped by the government, sooner or later they would have to embrace it

[Marykeller]

Each time I think about the steady increase of tapping among the Nigerian youths, I smile because of the reason that our so-called government thinks they can quench the existence of cryptocurrency in Nigeria by first banning the use of banks for trading crypto. That wasn't enough; they moved to ban P2P trade on top crypto exchanges, accusing them of being responsible for the naira's fall to the dollar.

The Nigerian government has all seen what they accused crypto exchanges are a fallacy; the Nigerian currency no longer has value on its own, and they can't stop Nigeria from having their way through crypto. Let them allow Nigeria to run their stuff on crypto since they can't stop crypto trading in Nigeria.

The introduction of tapping into the crypto world was a deal breaker to everything. What the government was trying to stop her existence in the past has spread out hugely which got millions of Nigeria, believing and trusting in crypto more than their present government that can't provide them jobs than giving them hardship