Topic: Bitcoin and it's holders in our society - page 5. (Read 897 times)

First time I hear about this situation but yes it really helps to be more vigilant in asset management. I don't know what it's like in other countries, but such sudden inspection behavior in the place where I live can only be implicitly understood as thieves, and if one cannot resist, the decision OP mentioned is a violation careful.

Yep, in life there are countless unexpected situations and being prepared to face everything always helps us not to be surprised, but frankly, if I were in such a situation, I would not have any resistance.

When I read through the post I know this can only be possible in africa country where police men disturbing and harassing her citizen and wanting to extort them since couple of them don't know their rights in the society today, I can also flash back to police brutality and what happened to leki thougate. It was this same people and same government that are causing the problem maybe if there were to be sound government I don't think anyone would like to venture any illegal business or becoming an internet fraudster. As a trader or crypto investor the rightful thing to do is to moved your funds to wallet that you don't regularly moved out with let say you have a laptop and store them over there instead of having them on your phone whatever happens to your phone you lose complete access to your investment.

It is not to equate cryptocurrency ownership with fraud. This approach is biased and serves ulterior motives. There's a concern that authorities might be seeking this information to exploit individuals.  While protecting our portfolios from such practices is crucial, we also need to be mindful of general security measures. True money launderers are likely within the system, not low-income cryptocurrency traders. The government's focus should be on identifying them, as with the Binance case. Disrupting legitimate peer-to-peer trade only harms ordinary citizens.

The security situation in different places is different but it is generally important to keep a security conscious mind because regardless of where you are or how peculiar situation will be your Bitcoin can still be in danger if you walk around with the device where it is stored. This is why it is usually advised to have a separate device for storing your bitcoins and a separate device for moving around. If you have separate devices, that way you could always keep safe the device that you have your bitcoins stored at home and avoid any situation where the device gets stolen or you get harassed by individuals along the way who have knowledge about bitcoins.

It is illegal for Police Officers to demand to search your private phone without a warrant. The police officers acted outside the law, and it is as an act of intimidation. 

From my experience so far with such incident were policemen keep harassing people when they see such money and they want to take you to the station what they could do is to ask you to move those fund and convert them to Nigerian Naira and then send to them, with this if you don't know your right you will just be fooled and they can share your hard earned money with you.

Just like a case of police people invading into yahoo boys compound and when they entered inside his house they found about 100m stocked inside his waldrop and some inside ceiling it was during the interrogation he then opened up where he stocked those money.

But what happened is that he knows his right whereby he took the case to court claiming that the money was a contract money that he wants to use for a project that was awarded to him, after which those people men was asked to refund those money and there sack from being a NPF if I could recall correctly.

Aside from having investments in other areas, the first thing that he was charged with was internet fraud. His allegations were not entirely because of crypto.
 
He was charged with fraud because they didn't know his source of income, but his court case with them was a breakthrough for him, as most of his hidden investments were brought to the public, and he also used that fame to acquire more wealth by going into tech fully, and there was a lot of traffic and wealth that was obtained from them.
 
If we are to start counting 10 popular millionaires or billionaires who made it through crypto, at least for the ones who made it public, he will not be among the top 5. People like Ifeanyi Eze_nwaogene and the rest of them are known for their massive investments in crypto trading and how they have acquired good wealth as a result of that.

Well, OP, I have just a few questions to ask if you'd mind. In your country, if there are situations like the one you just described, and upon the police investigations, they discovered that the convicts, through illegal means, had acquired the coins they had in their wallets. What do they (the policemen) do with the funds? 

I believe there's no country that is corruption-free or free from scammers, and neither is my country. Occasionally,  there are usually scammers who get caught by the fraudulent department, but if the victims are being investigated on and are not tied to any scam activity, the police or fraud department will not cease their crypto asset because crypto is not banned in the country. Although for some security reasons too, when I am going out, I sometimes switch my phone to a guest window that doesn't have any apps related to crypto currency. At times, if not all the time, prevention is better than cure. 

My suggestion is, If you can afford two devices, a phone and a laptop, or two phones, it's better if you just have all your crypto information and apps on one device, which will constantly remain in the house, and any time you are leaving a public place, just go along with the other device, which doesn't have any crypto information. Such practice will save you in some situations, like open robbery, theft, accidents that can lead to total damage to the device, etc. 

That rise is very instrumental in developing countries as well. In numerous situations having the opportunity to transact under the radar when the government wants to restrict other means of sending money gives individuals an escape route and it is an alternative to the local currencies which are mostly suffering from inflation.

However, at the end of the day, all countries are thc same when it comes down to the need to control the flow of money. Canada recently sanctioned wallets due to a protest.

I will also credit Blord’s win in court to the hype it got on social media and not to mention the person in question wasn’t only making his money through cryptocurrency alone he invested in some other business and that’s where his extra earnings are coming from.

If the EFCC wants to go chasing after cryptocurrency investors or traders I tell you that most politicians will be the biggest hit. We all know how they like to have their savings or laundered money in foreign currencies and cryptocurrency is the easiest means they use now. Even when I heard the report of the government threatening binance for information of its users I was saying it will affect them more than us.

Some of those are previously unable to access regular banks, and the harassment causes serious hardship. People who live in places with better conditions are fortunate to be part of the rise of BTC in the modern world. 

That is a popular case which got lots of attention and the individual in this case was able to afford a very good legal team. Many individuals who have been harrased by the authorities for their involvement in crypto related activities never actually made it to the internet.

"As trader or holder is bitcoin legal in your country..."

I am in the USA and BTC itself is currently legal, but the ecosystem is severely damaged by many popular companies refusing to do/continue business with Americans. It is pretty sad the number of places which - along with AML/KYC - completely ban the USA.

I have not seen a situation whereby government attack traders in nigeria, theirs one popular Nigerian bitcoin trader called blord,  government have tried to severally to arrest B.lord and they could not arrest him,even when economic financial crimes commission  [Efcc] filed case against b.lord, the b.lord won them in court of law, nigeria government is not against whosoever that is into cryptocurrency trading, even some of the politicians is even saving their funds with cryptocurrency especially bitcoin

I think the best is to have a personal computer or laptop where they can do their trading because I know it's not easy to control two phones where you would need to check your outside and you didn't go out with your phone, sometimes we can be carried away and go out with our phone at this point we might forget that we should leave that phone at home. The best way if they can't afford a personal como or laptop is to have their phone down some applications that could hide their sensitive documents be it app or whatsoever to remain peaceful otherwise police might get into them just like what happened.

Nigeria police and their misdirected search. They won't go after the big politicians who launder money by pretending they're trading these cryptos or who've boys who trade them on their behalf and leave helpless and unconnected youths alone. Wasn't it during the #endears protest that we saw Kucoin app on the PC of a minister in Nigeria and he was even on VPN at a time Twitter and cryptos were banned in the country. What came out of that exposure, nothing. It was swept under the carpet. Anyway, my advice to the youth is for them to know how not to expose their trading apps. If they've more than a phone, they can convert one to crypto phone and kept at home.

As a fast rising digital currency and the number one most cherished and valuable coin people within it's environment has been using it greatly to help spread the max adoption which many people goes into trading, holding or investment. We have to also understand that our device aren't safe while moving with either our phone or laptop.

It all happened yester-night; this happened yesterday night while going back to a place of work with my device as I was leaving something in me keeps telling me to freeze my important apps which includes my Binance app, Okx app, Electrum app and other digital asset app within my device was freezed and removed from my phone menu.

Along the way going a black cap men stopped us and wanting to search us after which they asked to unlock our device and so luckily I already hide my important app as my instinct leads me, but people around me that entered same vehicle(taxi) with me didn't do that and I noticed they have similar app on their iPhone so the policemen called to asked them about the Binance and other apps in their phone when they opened it they started questioning them about the funds inside and how did they manage to raise those funds although those young men weren't able to speak boldly and to defend themselves correctly and that was how they asked us to leave took them to station for further questioning.

As trader or holder is bitcoin legal in your country how environmental friendly bitcoin is over there, this is for those country that are facing difficulty with bitcoin and cryptocurrency at large. While leaving at home it's advisable to set an important app hidden if you think trading bitcoin or having them will lead you to great danger especially within my country where they suspect lots of boys to be internet fraudster.

What i experience last night made me to raised this topic so we can learn to secure our investment or be very mindful while moving with our smartphone at night it's very risky to lose one valuable asset at this point.