Ponzi scheme Dey more welcoming than Bitcoin/Cryptocurrency: Why e be like that!

[Rgram]

Ponzi schemes and Bitcoin/Cryptocurrency

I wan talk something way I don notice for we country and I Dey talk am based on watin I don observe for my locality. No be say na village I Dey stay shah, na town I Dey and the few times I don try talk something or ask person something about Bitcoin, them Dey always Dey lost.

On top of that, you go hear say, Nigeria number as the first in Africa and second globally as e carry concern cryptocurrency adoption matter (this na based on information way I read for Chinalysis). I know say, the country is a very large one and our population no small at all but omo, we suppose Dey see some of these people for our locality o. Abi this one follow for the privacy matter, way people just wan Dey there own and not respond to some kind cryptocurrency matter as a means to ensure security.

The advent of Ponzi schemes and forex trading na em open many people eye towards making money online for our country and in turn, e introduce some persons to cryptocurrency/Bitcoin. E no go surprise me say, this na the pathway way majority of us here carry waka enter this forum.

Watin be Ponzi schemes?

Any form of pyramidal scheme way Dey enrich the person way Dey top and operate on downlines where, the downliners go pay person way Dey top and get referrers to Dey pay the next person, na typical Ponzi scheme be that. You no go fine this people selling any product or services and them promise unrealistic returns within a short time. Example: MMM, Twinkers, etc.

Watin con be cryptocurrency?

A form of digitalized currency way no rely on any central authority to operate where, records are done and maintained on the internet. Here, you no need any downliners or to go bring any body, you no Dey sell any product or give any services too but the thing here be say, e get coin way you fit buy and hold way go add value later later. Mind you, na money e be say, na basically one way towards quick decentralized financial transactions. Example: Bitcoin, USDT, etc.

Now for our country way we Dey so, e Dey more easier to introduce one Ponzi scheme give person and them go buy the idea but, if you try tell them to invest in Bitcoin, them go look you eye like say, you wan thief their small money commot. Even with the history way them know about Ponzi schemes, the patterns way them sabi these schemes to follow, them still no Dey fear am the way them fear Bitcoin; why e be like that?

I feel say;
Our people no really understand the concept of decentralization. Them no see the safety way follow the system and get the idea say, any body way create go get where e fit use finger the system later and thief people commot.

Our people no like the idea say, them no know when and in what amount way them fit profit from cryptocurrency over a defined period of time.

Our people by design on risk taking believe say, with Ponzi schemes, them fit collect and run before the victims go onboard themselves later like say, them Dey tell person that one.

Our people believe in short term gains to meet up with the ever challenging economy way we Dey face for the country.

Watin una think ?

We go see this narrative change in due time?
All these plenty adoption and ratings way them give us so, e really Dey reflect for your locality? Like you really Dey fine cryptocurrency adoption in individuals and business around you like that?

[rachael9385]

That's because in Nigeria people only value things that comes fast. Everyone is trying to make money the easy way and it doesn't matter many ponzi schemes steal people's money they will always repeat the same thing over again. The reason why most people don't get involved in cryptocurrency is because they think it will waste their time and they think it's too difficult for them to actually understand

[Tonimez]

Nigerians have what they believe which works for them in most cases. That which they believe is in quick money and short routes to achieving greatness. This has exposed them mostly to scams which are avoidable.

Recently, their mindsets have started reshaping and I can say that a considerable percentage of those reoccurring Ponzi experts have started considering bitcoin investment and cryptocurrency investments. Many have been scammed into rejecting both Ponzi and bitcoin investment.

[Barikui1]

I feel say;
Our people no really understand the concept of decentralization.

Who tell you this one? Who tell you say our people no know what's up?
For we country our eye reach ground, just that we no get patience to wait make our investment ripe, we just like quick money, that's why people still dy enter ponzi scheme knowing fully well say na ponzi scheme.

Watin una think ?
We go see this narrative change in due time?
All these plenty adoption and ratings way them give us so, e really Dey reflect for your locality? Like you really Dey fine cryptocurrency adoption in individuals and business around you like that?

Honestly speaking, I no see our people stop loving ponzi scheme anytime soon because we love to gamble, but that one no mean say we no know what's up, and if you look well na the patient people dy do crypto for we country.
Then as for the case of adoption, that one dy very possible only if our government fit allow our banks to run a crypto related transaction, because all of us wey dy do crypto for we country na true hide hide, not openly, so when our banks start accepting crypto payment, that's when adoption of cryptocurrency for we country go flow in full swing.

[Cossyblack]

Most Nigerians are more familiar with ponzi schemes than bitcoin because majority of them have only heard of Bitcoin but they don't know in details about bitcoin or crypto currency at large. Since majority of Nigerian doesn't understand how Bitcoin investments works,they simply prefer investing in ponzi schemes that they're more familiar with not minding the risk involved. I believe the need for Bitcoin education in markets places, schools and motor parks have become very necessary to teach our people the basics about bitcoin and why Bitcoin is the safest and the most reliable asset to invest and this can only be easier if our government are crypto friendly .I think if strategic measures are not put in place to curb the wide spread of ponzi schemes, then the possibility of it ending soon is uncertain.

[EluguHcman]

It is unfortunate that the people has paid deaf ears on the risks of chasing short term goals, blind at where it is designed to look too good on the flourishing is never what it is but disguise to scam people by offering to give them what they desires (short term profits)

Watin una think ?

Sad to say, lot of individuals investing on the Ponzi schemes are awar of the risks involved and it illegal operations but still do insist to invest their funds on it believing they would realize their profits and make some good profits before they get hold handicapped where the scammers steps in and turns it all to be nightmares.

So likely they are aware that the source is not trusted but they still move forth to invest and when they finally gets scammed those who have not secured their capitals talk more of profits becomes most affected and begin to regret it like they were not earlier aware. Verily I blame even those who claims unaware because they would had sense that method of giving returning back with profits in such system and durability should be suspecious.

And when it comes to invest on bitcoin, they feel exhausted because they can not be patient for the bitcoin market long term investment approach as the volatility determines investors value of portfolios.
Funny enough they find it more attracted to invest on those alt coins with hyping of yielding quick profits.
That is just to say... People perishes for lack of knowledge and impatient can lead to unrecoverable looses which our people don't consider reliability and reputation first but during of quick profit returns. That is why we have too many Ponzi scammed victims in our society.

[Rgram]

I feel say;
Our people no really understand the concept of decentralization.

Who tell you this one? Who tell you say our people no know what's up?
For we country our eye reach ground, just that we no get patience to wait make our investment ripe, we just like quick money, that's why people still dy enter ponzi scheme knowing fully well say na ponzi scheme.

Na the one thing way tire me be that o, them know, no be say them no know and when them don finally turn victim, you go see them acting like say, person don do them strong thing when really, them been understand the risk way involve for Ponzi schemes. Some go out of greed cef, park all the money way them Dey use sell market put in side with hope say, in a week or 2weeks, them go like cash out major and na so e Dey choke majorly too.

Watin una think ?
We go see this narrative change in due time?
All these plenty adoption and ratings way them give us so, e really Dey reflect for your locality? Like you really Dey fine cryptocurrency adoption in individuals and business around you like that?

Honestly speaking, I no see our people stop loving ponzi scheme anytime soon because we love to gamble, but that one no mean say we no know what's up, and if you look well na the patient people dy do crypto for we country.
Then as for the case of adoption, that one dy very possible only if our government fit allow our banks to run a crypto related transaction, because all of us wey dy do crypto for we country na true hide hide, not openly, so when our banks start accepting crypto payment, that's when adoption of cryptocurrency for we country go flow in full swing.

This one na another thing to look into o, you know say, our government for this country Dey do like say, some kind sectors Dey on their own. Like the central bank cef get their own government way be say, them fit make certain statements way Dey binding but, no be watin come from federal, that kind thing.

[Obim34]

This was the narrative planted from the old days, our inquisitiveness are always short profited, easy route and taking severe risks. One thing i found out is if you warn today about ponzi with its disadvantages and another ponzi comes, there will be many people who would invests their hard earned money inside the business.

In a case where we give excuse about Ignorance, it isn't the case of Ponzi schemes since it has happened on countless encounters, those who can avoid ponzi should make haste instead of becoming a victim.

[CryptoHeadlineNews]

It's sad that due to the lack of proper knowledge and the greed and quest to get rich quick over night has made many people distinguish what investment is the most reliable and risk-free, just in the case of Ponzi scheme and investing in Bitcoin. Because primarily, the major reason why most people still patronize investing in Ponzi is simply because of the profit it promises over a certain interval of time that always seems too good to be true, unlike Bitcoin investment whose value always fluctuates, and not static, unless when heard for long term. Hence, it is only an ignorant person that will be able to invest in Ponzi, despite all the scam related activities that has been linked to Ponzi schemes.

[Dzwaafu11]

I feel say;
Our people no really understand the concept of decentralization. Them no see the safety way follow the system and get the idea say, any body way create go get where e fit use finger the system later and thief people commot.

Our people no like the idea say, them no know when and in what amount way them fit profit from cryptocurrency over a defined period of time.

Our people by design on risk taking believe say, with Ponzi schemes, them fit collect and run before the victims go onboard themselves later like say, them Dey tell person that one.

Our people believe in short term gains to meet up with the ever challenging economy way we Dey face for the country.

All these things you said Nigerians know about it clearly, and many of them know every single step to succeed in the crypto space through the investment that they are supposed to do, but they won’t do that because Nigerians are looking for a shortcut to make money from the crypto space.

They are not ready for that long time period that you are saying; they just want to make money from the crypto space, and they feel like the Ponzi schemes will make that happen to them since they don’t know that it is way riskier than the right way with crypto investments.

Watin una think ?

We go see this narrative change in due time?
All these plenty adoption and ratings way them give us so, e really Dey reflect for your locality? Like you really Dey fine cryptocurrency adoption in individuals and business around you like that?

Take the question back to yourself, man. Did you think Nigerians would change from investing in these Ponzi schemes? Because if you ask me honestly, I will tell you NO. Many won’t change until they are scammed and get broke; many got scammed and still go back to the same Ponzi schemes because they think it is all crypto investments. They don’t know they are doing it in a wrong way, and many don’t want to learn. That is why they keep falling victim to these scammers. I hope they know one day, though.

[DaNNy001]

I don't know if this is becoming a trend because how can ponzi schemes keep on scamming people and immediately a new one comes out people will still sign up for it... Funny enough these are the same people that wouldn't want anything to do with Bitcoin investment but they rather put their money into things like this because it seems to be the fastest way to get money.. Nigerians claim to be smart but some of them do dumb things

[Spaceman1000$]

Nigerians have what they believe which works for them in most cases. That which they believe is in quick money and short routes to achieving greatness. This has exposed them mostly to scams which are avoidable.

Recently, their mindsets have started reshaping and I can say that a considerable percentage of those reoccurring Ponzi experts have started considering bitcoin investment and cryptocurrency investments. Many have been scammed into rejecting both Ponzi and bitcoin investment.

Baba Sharp practice don start for the country tey tey no be today, some persons believe say them fit make all the money way them need for their life in one minute, that kind mindset dey make you dey open to fraudsters. Our people no dey learn, today now person fit rebrand one Ponzi scheme tag one kind name, immediately you go begin see people go begin invest without proper vetting. Watin MMM so people for Nigeria, if we be people way dey learn from history, Ponzi scheme no suppose get him way back to Nigeria. Although majority of the youth population don start dey understand the benefits of bitcoin and how to recognise Ponzi scheme if them see one, na the greedy fellows still dey fall victim.