Topic: A very good speech concerning Cryptocurrency. - page 2. (Read 343 times)

What most of our leaders have failed to understand is that times are gradually changing and things are evolving to a large extent in the world. The same way they are kicking against crypto and have failed to see the good side of it is the same way most of our parents don't still understand that times have changed and that most youths not don't need to depend on the kind of jobs and systems that was prevalent in the past as a major source of livelihood in the present.

I guess that the lady has seen the knowledge gap between colleagues and the youths and that what's likely the reason for the misunderstanding on the part of our leaders is that they don't really understand how the crypto systems works and aren't even ready to know it so as to look at the possibility of using it for our own good. This is the kind of mentality we need from our leaders. Why fight against something that is helping your youth? Isn't it best you regulate the system in such a way that it doesn't get into the wrong hands and that you at least have an eye on the system to know what's going on there?

I still don't understand how cryptocurrency is affecting Nigeria economy negatively.
We all no the reason for poor economy in Nigeria is poor leadership.
Now that they have ban cryptocurrency let see if the economy will now be balanced, a lot of countries has adopted the use of cryptocurrency as a means of exchange and is working very well for them.
Nigeria government should look into building good factories and making sure they are working very well and see if the economy won't change for good.

Most importantly note on her speech was the fact that she acknowledged that they can't destroy what they didn't create.
She understood verily that cryptocurrencies are decentralized and non custodian concepts which no authority in a global range has ever successfully been in control of and so they the Nigerian legislatures can't afford to be the ones breaking the record.
Literally it's a shame for the Federal government of Nigeria to agitate on how they can stay on top controlling the crypto system and because they're unable to penetrate in, they began acting unholy romances by fighting for the crytop industry.

The woman has just said it all by letting the Senate know that they're taking the process of actions on the wrong direction perhaps, it can be managed by them but can't overrule the process to be centralized at their custodian.

I never really see the senate making real supportive statement about cryptocurrency. In the last senate, sen. Lawal as the president of that house was not decisive about it and that was why CBN got the strength to begin kick on it because if it was tackled properly then to the favour of the people then CBN no go limit it transactions with the bank like they did. So now you are going to look at the head of the senate which is Akpabio because at the end of all committee discussion, report goes back to the house for approval and implementation. Akpabio doesn't look like someone who is in line with modern technology and digital services, he looks more like an analogue person that carries out the orders of the president. So that is where the challenge is.

Am concerned about this manipulation of currency, the problem of Nigeria in regards to their currency devaluation is caused by the government, boss I must say that they did not only manipulate dollar price to sought out Nigeria debt alone, they also did it for selfish reasons, government officials has this information already, so the make use of that opportunity to do their dollar exchange knowing fully well that the same government will later fight the price of dollar hypocritically, truth will continue to unveil, how will the CBN perform very well when they claim to know when they know nothing, we will continue to suffer this until the people that understands crypto is been appointed into financial institutions.
I think we experienced reckless use of power by both the previous CBN governor and the present one, there actions has made us to believe that they don't know much about cryptocurrency ordinarily Nigeria would have been a safe place for cryptocurrency tramsactions, although I know that no matter the witch hunting by the government, cryptocurrency must continue to excel here.

This is really a nice comment or suggestion from Biodum Olujimi. I wonder how someone will want to destroy what he/she didn't creat, I don't still know why the Government is being selfish over everything. Sometimes,  I wonder if they think about the happiness of the youth and the country at large. If they should tell you the amount of corruption this crypto has prevented you will marvel. I just hope they consider Biodum suggestion

The Senate may not say anything just as it was before during Buhari time in a way that bitcoin and other cryptocurrencies are not banned in Nigeria but the CBN banned it.

I will like the bill that can be passed to override CBN position on cryptocurrencies. But I guess it would still be as it was during Buhari time. No Nigerian will label their transaction as crypto P2P.

I think the SEC that did not say anything before are now on the move to do something. Let us see what they got to offer.

You can see the useless moves of the CBN on fintech recently. Another poor move which was just not more than a threat. I do not think the CBN know the connection between fintech and crypto traders is like the connection between commercial banks and crypto traders.

They manipulated dollar price to naira from ₦465 to ₦1600 to be able to pay workers salary, generate 2024 budget and to pay Chinese loan but saying that the manipulation is caused by Binance.

 I came across a vídeo on the media, involving the former deputy Governor of Ekiti State (Biodun Olujimi) who's currently the Sen representing Ekiti South. the vídeos i saw is a plenary meeting of the senate concerning the regulation of Cryptocurrency but what got me very interested was a speech  made by Sen Biodun.

 "Mr president there's really not too much to say about this. We didn't creat Cryptocurrency, and so we cannot kill it, and we cannot also refuse to ensure that it works for us. Definitely they are not like us, me i am used to tangible medium of exchange, i carry my cash in my pocket, I paid. But the world has gone so far Mr president, and this children are doing great business with it, they're working everyday on their laptops, on their phones and they're getting results and Nigeria cannot immune itself from this sort of business and, what we can do is ensure the space is regulated in such a way that bad people cannot use it. What we didn't create, we cannot fully regulate but we can manage it and i believe that is why this motion is really important, the time has come for us to be able to harmonize all the issues concerning Cryptocurrency and have a proper way forward on how to manage it and manage our youths".

 I was really amazed by this speech and I'm happy that despite the bad government, there are still sensible people among them, that would always kick against their wrong act towards frustrating the youths. What impressed me about her is that she acknowledged the fact the youths are really working hard and getting results out of Cryptocurrency and the Nigerian Local Board and the progress of Nigerians here is a proove about that, not some of our politicians who thinks we're lazy. Like she said, banning exchanges or banning Cryptocurrency entirely is not a good way to go about it, but ensuring that it is regulated in such a way that bad people can't use it is a very good idea. The government should think about how many businesses they’ll collapse if they ban Cryptocurrency entirely cause it could further increase the rate of crime thereby forcing more youths who's business are crumbled to go into criminal activities for survival.

 Here's a link to the video incase you're interested in watching it.
https://twitter.com/PulseNigeria247/status/1359869126785785858?t=c3DsAIpyy4fUF6pOTZQbtA&s=19