Topic: African government against or for crypto?? (Read 344 times)

Well, I can speak for myself. To that I say everything you said there is correct, including owing more cryptocurrency value than fiat. I hardly keep fiat this day.

Concerning whether African governments are in support of cryptocurrency or not, it's obvious they aren't. Cryptocurrency has a kind of liberation effect on citizens of this continent from financial slavery and dependence on jobs that aren't even available. A lot of citizens in Nigeria who are into cryptocurrency are quitting their paid jobs and getting self employed.

Financial independence is a big challenge to bad leadership. This is telling on the selfish political leaders in Nigeria. They don't like something like that. It makes them think they're losing grip on the citizens.

We saw that happened during the #endsars protest in 2020. The Buhari administration was completely at lost with what to do to curb that demonstration until it came up with massacre of protesters. The aftermath of that protest was what gave birth to the CBN ban on crypto activities in the country. That ban seems to be of no effect anymore as we've continued to trade it till date.

Problems in Libya began after a 9-year civil war, which is still not over. Until now, large cities are unsafe and there are shootings. Russia has lost a lot of money due to the loss of a partner in the supply of weapons. European countries suffered less economic losses.
There are still large oil reserves in Libya, and now French, Spanish, Norwegian companies are extracting oil there. Therefore, the countries of Europe live well, receiving cheap resources, while in other countries many people die from wars and diseases.

Gadaffi didn't do anything special, it's just a myth that has its base on the price of oil.
Gaddafi was in power since 1979 nothign was special before the huge increase in oil prices and it followed the same patterns as developing countries with medium to high-income comign from oil and gas.
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?end=2021&locations=LY-RU-BR-KZ-MX&start=1994



Again, myths about how great of a leader he was. Chavez had the same story, great times while oil was high, once it wasn't anymore the country went to poverty levels.

In some sources, I saw the figure of 7 billion, but this is not a subject for dispute. The main idea was to change the financial system of many African countries and move to the gold standard, getting rid of the French franc and the US dollar. Muammar Gaddafi wanted to change the financial system on the entire continent and was killed. And Libya is now a very poor country.

Yeah yeah, the blame game!
If the evil franc is so bad why countries that have abandoned it like Madagascar, Mauritania or Guinea are even poorer than some who are still using the franc?  Oh but wait, we have other success stories from outside the evil influence of the evil franc, Mauritania, Congo, Angola, and Zimbabwe they are doing so great without the franc!

Reality check:
https://www.dw.com/en/africas-cfa-franc-colonial-relic-or-stabilizing-force/a-48908889


Yeah the famous gold dinar, except for the fact that Lybia had only 5 billion in gold reserves, so comparing this to something like the annual budget of New York which is 100 billion or the 400 billion Apple makes a year shows you pretty much how ridiculous that was.


No, it's not!
It's just like those stupid numbers with 20% of Turkey owning crypto and 15% of the US owning Bitcoin, clear exaggerations since the blockchain data clearly refutes those but it also brings another thing into the equation, the amount those people would be holding.
It's data pulled from
https://triple-a.io/crypto-ownership-data/
You can dig in that data and look at the numbers and it would show you the US holds at least 400 billion in crypto, then go to Europe add another 300 billion and what's left for the rest of the world if we count out Satoshi is pennies! 

Pretty nice things there, but the best is Somalia beating Salvador in crypto owners percentages or Honduras topping Switzerland. 

Africa has always been a colony of Europe and a testing ground for medicines, political decisions, and so on.
Read about the introduction of SBDS in Nigeria
https://bitcointalksearch.org/topic/new-world-order-or-cbdc-against-cryptocurrencies-5440827
Remember Gaddafi's gold dinar. Libya was a beautiful country, but as soon as they wanted to get rid of American slavery, a civil war broke out in the country.
And this is what happens in many African countries, where there are several revolutions a year.

War in Ethiopia, why is everyone silent?
https://bitcointalksearch.org/topic/war-in-ethiopia-why-is-everyone-silent-5411351

In order for some countries to have a high standard of living, they are obliged to support wars in other countries.

Talking about obeying the laws of a country is cool but some citizens can still be trading with the use of cryptocurrency or making use of Bitcoin and it still doesn't cause any harm or valuate the law of a country per say. But In some African countries I don't see why they can't impose the use of Bitcoin or better still let the citizens to use it like every other currency, I think the banks monitors what comes in and out of ones account so they find it challenging to just accept the use of Bitcoin so they just set a ban when it doesn't suit their selfish desire/interest in some cases.

I would like you you to make further research of Africa adopting the system of Bitcoin or neither cryptocurrency, when you check in the history of the continent and country that adopt Bitcoin most, you note that African countries adopt Bitcoin mostly and especially Nigerian, the aspect i was expecting you to narrow your point is the aspect of making Bitcoin a legal tender, our government's doesn't not suppoet the system of Bitcoin as a legal tender, or legalize Bitcoin, but now most countries in Africa have support the motion of regulations of Bitcoin.

I had read through the article you presented and I must say I’m appalled. It’s such a shame that such things are allowed to go on today. France are the only ones benefiting massively from all this. Riding on the backs of countries seeking independence and “spreading democracy” everywhere asides from Africa.
France has always relied on Africa and would not let go of its cash cow so easily. So I guess it’s great for African nations to adopt bitcoin and a must to do away with colonialism.

I don't know if the estimates are accurate, but I have my doubts and questions. Okay, let's say it's 10 million in Nigeria, 1.4 million in Ethiopia. Then you say 4.5 million residents of South Africa (you mean, like, residents but not citizens or a total of 4.5 million?), then saying 88% of adults own cryptos there. It seems that roughly 35 million adults like in South Africa, and 4.5 million is certainly not 88% of them. But okay, let's say it's 35 million. Add to that 9% of Kenyan population (around 5 million), 3.1 million traders in Ghana. That, excluding Egypt (because calculating a population of young adults is tricky), gives us almost 55 million crypto users in this handful of countries alone. Isn't is a bit too many? I'm especially interested in the 88% of adults in South Africa. Could that really be true?
As for policies, it seems that African countries opt for restrictive approaches, while the people try being crypto-friendly. It's sad that such things happen, when countries don't follow the will of the people.

You have said it all. It's just the simple truth: Africans don't need any government approval for them to use crypto; we are using it and we will continue to use it, even if they stop all financial institutions from engaging in any form of crypto-related transaction. We will always make ways for ourselves, as we always do. 

It's not about being a giant without having anything to prove for it, Africa is fast growing with Bitcoin adoption with it's populace and yet only Central African Republic has made Bitcoin a legal tender and yet it has no tangible results to show for it, but the people who have adopted Bitcoin are making a God living through this while a whole country like CAR isn't progressing much about it, that is why it's not all about going by the adoption but putting things in place for the suitability of the adoption on ground, Bitcoin has been a major sustainability on majority of the African youths while their governments failed to take responsibility for them, Bitcoin deed and till today, many Africans were still looking for more opportunities that could come more from Bitcoin adoption.

Nigerian become most popular country with higher bitcoin transaction and I find many Nigerian user here, last few update situation what happen in Nigeria because the government regulation adopted limit withdrawing cash in the bank in daily days. I think have reason with African countries exactly Nigeria's government against for cryptocurrencies because their citizen can withdraw or save assets in Bitcoin without any limit withdrawing the saving in the bank have waiting more than two years if huge amount for withdrawing all assets.

Each African countries adopted with democratic system and president election in each five years, I sure when the new president have new rule about cryptocurrencies and I sure will have president in African countries will support for cryptocurrency.

No doubt about your findings in Nigeria being the lead country in Africa in terms of bitcoin knowledge. The government is fully aware that Nigerians are still dealing on crypto but they have no option than to play dumb and blind. The banks too knows about it and there are some bankers too who do the crypto and bitcoin stuff too. Why the delay from the government to legalizing bitcoin is that there is no way they can launder the treasury through bitcoin as it is an open and transparent ledger where  every one individual would see what is in the wallet and another is transaction fee and taxes which will be of benefit to them hence the delay in implementing and adoption of crypto and bitcoin.

Though many African nations have adopted the use of bitcoin, it has been difficult for us to utilize cryptocurrencies while living in Africa. Notwithstanding the policies, I don't think the government can do anything to restrict cryptocurrency-related activity.
Nigeria has been the leader in Africa when it comes to cryptocurrencies, but it has been a very challenging journey due to the government and the police. There have been instances where bank accounts related to cryptocurrencies have been blocked, and the police have harassed young people simply because they use cryptocurrencies. Nevertheless, we are still in the game. notwithstanding the pressure that is being put on them.

I think because more and more people in every country in Africa are interested in and get involved in the world of crypto, I think one day in African countries the crypto ban will be lifted. and they will create laws that oversee crypto instead. because a country will not be able to step into a more advanced era if it is not open-minded about technological progress itself such as digital money for example (cryptocurrency). Because high citizen interest will certainly be a consideration for a government in a country. because if they ban it it will only make its citizens continue to use crypto in a clandestine way. So those governments in African countries will then think that supervising their citizens in using crypto will be much better. and they can also implement a crypto tax that will add to the country's unique income. which can be used to improve infrastructure and improvements within the country itself. because the digital era is unstoppable. and like it or not all countries have to be open with it. that's just my thought. maybe the people of Africa will know more about the possible actions of the government there in the future. I really like the enthusiasm of the African community in getting to know crypto. even that gives me a little motivation.

And what question might you be taking about? All your questions and the entire post is about Africa and African there's none that exclude Africa.

Whether government accept crypto or not, one thing is sure people are still going to keep using it and eventually it will grow to the extent that it will be a pain in the ass for government if they should try to stop it.

In most of these countries it's expected that what they don't understand they would rather declare the unknown to be illegal instead of serving the citizens with what they want..but it's all about time things will go in favor of crypto one way or another.

Btw looking at some of the listed countries in the OP, if crypto has the likes of Nigeria, South Africa, Kenya, Egypt just to name a few I think this is a big win to be honest. If am not mistaken these are some of the biggest economies in Africa and a great bench mark for other non crypto nations to emulate and adopt crypto, its just a waiting game for now.

Totally correct, as long as a user as access to the internet and the alike legislation really does not matter tbh, but am not saying do illegal things be a good citizen

There is also a situation where governments are elected via elections, which means that they need votes, you can be the greatest government the world has ever seen, but if people do not vote you then you will be ousted on next election. So, what does that tells us? They could change their point about bitcoin depending on what people say, if enough people say it's bad, then they will ban it, if enough people say it's good then will make it legal.

It is all about votes that they could get and what they do will bring in how many votes. My nation did that for example, government didn't like it, people protested, now they made it legal and can be used very easily.

I think it doesn't really matter if the government like bitcoin or not. The most important thing is that it helps people and people will be using it no matter what. So I think the adoption of bitcoin will be getting bigger no matter what the government is thinking. And in the end, bitcoin is created to take away our freedoms from the government and make a revolution. The best way the government can help is not to slow down adoption.