Topic: Bitcoin to the rescue again (Read 372 times)
It seem so intriguing, bitcoiners are asserting themselves in different spheres. Many countries have infact laxed their regulations, because they want more and more bitcoiners in their country. Be it Ukraine war or be it uplifting poor villages out of poverty there are numerous inspiring stories.
In Nigeria, where bitcoin and crypto currency at large is termed illegal by the government, a young investor by name Gaius Chibueze, also the founder of Tactcoin has donated a sum of 10 million Naira worth of Btc (approximately 0.55btc) to Peter obi a presidential candidate in the country's forthcoming General election. The donation is meant for obi's campaign and mobilisation. Gaius believes that obi can take the country's economy forward.
This post isn't about the donation to the presidential aspirant but the continuous involvement of my country into crypto currency, how it can open the eyes of the government to see the real light of crypto world and how it will also influence more people about crypto currency genuity and is also here to stay.
I am seriously happy about this new development in my country and hope this will lead to crypto been legally accepted here in Nigeria
This post isn't about the donation to the presidential aspirant but the continuous involvement of my country into crypto currency, how it can open the eyes of the government to see the real light of crypto world and how it will also influence more people about crypto currency genuity and is also here to stay.
I am seriously happy about this new development in my country and hope this will lead to crypto been legally accepted here in Nigeria
If I think about the idea of a young investor named Gaius Chibueze to influence the government so that bitcoin and cryptocurrencies are legal in his country, this is a brilliant idea even though many people reject it, I see the pros and cons that must happen in every country if crypto currency legalized, moreover there have been many who have fallen victim to a scheme such as shitcoin or what is called Tatcoin,
And I also think that this will be the most powerful weapon for other presidential candidates to influence citizens not to vote for Peter obi a presidential candidate in the upcoming general election in his country if Peter obi a accepts Gaius Chibueze's offer of donation.
Yes for most political decision or contribution there is an economic undertone. This contribution to this political campaign might be a "Greek gift" to attract favor or political patronage ones Mr. Obi becomes the President. Google about this Presidential candidate and you would discover that he has the largest youth support base. Many youth are contributing as low as $1 to ensure that they support his campaign. He is perceived as an incorruptible, youthful and a visionary leader. The good-news is that regardless of the intentions of the donor or the recipient the message of Bitcoin is being preached and publicized.
It is clear it was not given out of love for the aspirant or to support a wonderful cause. It was given to either gain political favour or create awareness to his tactcoin so the rest of Nigerians will think the coin is approved by the government. (People can read different meaning to things especially the less educated ones. )
I hope this Peter obi of a man is a btc support and have a soft spot towards digital currency in general.
Yes for most political decision or contribution there is an economic undertone. This contribution to this political campaign might be a "Greek gift" to attract favor or political patronage ones Mr. Obi becomes the President. Google about this Presidential candidate and you would discover that he has the largest youth support base. Many youth are contributing as low as $1 to ensure that they support his campaign. He is perceived as an incorruptible, youthful and a visionary leader. The good-news is that regardless of the intentions of the donor or the recipient the message of Bitcoin is being preached and publicized.
It is clear it was not given out of love for the aspirant or to support a wonderful cause. It was given to either gain political favour or create awareness to his tactcoin so the rest of Nigerians will think the coin is approved by the government. (People can read different meaning to things especially the less educated ones. )
I hope this Peter obi of a man is a btc support and have a soft spot towards digital currency in general.
If Peter Obi, the presidential candidate, is as intelligent and well-liked by the people as the solution to Nigeria's problems, he wouldn't seek to legalize the usage of cryptocurrencies by simply accepting a payment from a shitcoin creator to promote his campaign. The donation is not worthwhile if his goal is to get his tactcoin recognized as legal tender. Understanding the differences between bitcoin and other shitcoins is necessary before a nation like Nigeria adopts the use of cryptocurrencies. When cryptocurrencies are officially legalized in the country, those who are ready to invest will need to be properly oriented.
That's actually a smart move for that altcoin creator, to entice the people into buying his product because he sponsored/bribing a presidential candidate.
I guess, it won't be "happy" anymore if this candidate wins and promote his coin as way to thank him for the sponsorship he's done during elections, then eventually the creator of that coin decides to dump and gradually exits the market after he hits his target.
I would guess that the president wouldn't care at all, and neither would the coin creator neither. The amount however is quite tiny, is that a lot of money in Nigeria? Don't get me wrong, that is a lot for regular people in most places, hell in the USA which is seen as a rich nation, people make about 5k per month on average, and that's average, so there are tons of people who make less than that, some live off with under 40k, meaning this is nearly half of their yearly money.I guess, it won't be "happy" anymore if this candidate wins and promote his coin as way to thank him for the sponsorship he's done during elections, then eventually the creator of that coin decides to dump and gradually exits the market after he hits his target.
But, when we are talking about a presidential candidate, in most nations there are a ton of donations and a ton of bribery and corruption, so we never really consider 0.55 btc as a good deal.
So.. this Gaius dude pretty much managed to "open the eyes" (a.k.a. bribe) the presidential candidate with $16.8k. Yea lol, that's one hell of a presidential candidate if he flipped his opinions with that amount.
More like "Sir, this is my $16.8k bitcoin I scam from gullible citizens who invested on my shitty ideas and today I was able to rug pull their investment as mine, please consider me as one of the candidates in your cabinet when you emerge as the president of the Federal Republic of Nigeria."
I dislike when politics and investment align because you never know when they will change their minds or whether what they have allowed will be revoked later, this is the current position of bitcoin in Nigeria. Chibueze is a con artist who ends up putting money into a politician's wallet, this is not adoption but stupid solidarity.
I think that if political donations for presidential candidates in Nigeria can be legal then maybe we should not judge this act as bribery. I am sure that Gaius Chibueze must have his own personal and political reasons for the act and maybe it can partly be because he is looking forward for Peter Obi to win the election and be able to influence him and his government somehow to maybe make cryptocurrency not illegal but strictly regulated in Nigeria. I see nothing wrong with that per se. Now, let's hope this candidate that he is supporting can really win the coming election so that his donation can really mean something for the crypto industry of this country.
While I am very interested in such news, I really hope that those kind of shitcoins stay illegal in your country and maybe only Bitcoin is legalized to stop people from getting scammed.
The best way to open their eyes and absolve them of their ignorance is to do something that they will remember in a positive light. The Bitcoin donation is one of many ways to get them to adopt Bitcoin and then they will undoubtedly try to convince other fellow political parties
I think this is the point the OP was trying to make because apparently bitcoin is not legalized Nigeria as of the moment.
So with the "kind gesture" of that young investor towards the presidential candidate in the light of showing how positive bitcoins can help the economy, can bring about the mass adoption of bitcoins or rather cryptocurrencies as a whole in that country.
what is the fate of young investor Gaius Chibueze today?
By fate, do you mean what he stands to gain from all of this?
Well that would be
1. For his personal interests; The OP stated that the money was donated to aid the political campaign of the politician because he believed that the aforementioned politician had the potential tp move the economy of the country a bit faster.
2. To ensure adequate publicity of cryptocurrencies; Like I said earlier, He may have done it to ensure cryptocurrencies can be generally accepted in the country.
And there are still other things he gains such as publicity, influence, etc.
what is the fate of young investor Gaius Chibueze today?
If he has the money to donate that kind of amount regardless of his project’s questionable and uncertain reputation, then it’s a smart move for him to entice people to check out Tactcoin and buy his token and other services there. Plus, he might get an endorsement from the presidential candidate Peter Obi that would massively advertise his Tactcoin.
And as a bonus perk for being a “sponsor” of Peter Obi’s presidential candidacy, he made those people who were unaware and misinformed about Bitcoin to simply study and check out its real use cases despite that the Nigerian government’s stance on BTC is still in question where they are still banning banks and online payment service providers to adopt crypto but P2P transactions are still on.
And as a bonus perk for being a “sponsor” of Peter Obi’s presidential candidacy, he made those people who were unaware and misinformed about Bitcoin to simply study and check out its real use cases despite that the Nigerian government’s stance on BTC is still in question where they are still banning banks and online payment service providers to adopt crypto but P2P transactions are still on.
a young investor by name Gaius Chibueze, also the founder of Tactcoin has donated a sum of 10 million Naira worth of Btc (approximately 0.55btc) to Peter obi a presidential candidate in the country's forthcoming General election. The donation is meant for obi's campaign and mobilisation.
The donation may just be a freewill donation without any other motives like some users here have suggested. 10million Naira is a small amount compared to what some of these wealthy Nigerian men have, plus it is a little amount to give in support of someone you believe in. Peter Obi is the youngest option of the three top candidates, and because of his entrepreneurial character, many youths see him as one who will make favourable policies that will be in benefit of businesses and crypto. If you further analyze the situation, you will find out that the political party Peter Obi is in do not have a good financial structure, hence the need for financial donations from well meaning individuals, Mr Gaius Chibueze may just be fulfilling that and playing his part knowing that in a better crypto environment in Nigeria, his tatcoin may have some hope of survival.
I won't comment on if the aforementioned candidate is what the country needs or not, but political donations is something that crypto can't really escape from when it gets to the place it is now. It will start looking like more traditional currencies and other donations, and while that might not be why crypto was thought up in the first place, it's definitely something that is unavoidable. And it will put the donator in a favorable position if the politician gets to power, and in return, help crypto be more represented in that country.
When there are activities like this, whether in crypto or fiat a person has donated. It is expected that there's a return for the donator to the candidate that he has chosen to support.
Well, it's expected if Obi wins then for sure he'll be able to get the return that he wants after donating that amount to his campaign. This is the usual thing that I see in politics and there's the intention for his own sake and exposure of his project.
Well, it's expected if Obi wins then for sure he'll be able to get the return that he wants after donating that amount to his campaign. This is the usual thing that I see in politics and there's the intention for his own sake and exposure of his project.
That's actually a smart move for that altcoin creator, to entice the people into buying his product because he sponsored/bribing a presidential candidate.
I guess, it won't be "happy" anymore if this candidate wins and promote his coin as way to thank him for the sponsorship he's done during elections, then eventually the creator of that coin decides to dump and gradually exits the market after he hits his target.
I guess, it won't be "happy" anymore if this candidate wins and promote his coin as way to thank him for the sponsorship he's done during elections, then eventually the creator of that coin decides to dump and gradually exits the market after he hits his target.
Yes for most political decision or contribution there is an economic undertone. This contribution to this political campaign might be a "Greek gift" to attract favor or political patronage ones Mr. Obi becomes the President. Google about this Presidential candidate and you would discover that he has the largest youth support base. Many youth are contributing as low as $1 to ensure that they support his campaign. He is perceived as an incorruptible, youthful and a visionary leader. The good-news is that regardless of the intentions of the donor or the recipient the message of Bitcoin is being preached and publicized.
I'm not sure this is something you should be happy about! Specially since your title doesn't make any sense.
Basically a shitcoin creator makes a useless token called Tatcoin and creates 200 million of that token out of thin air worth about 636 bitcoin and then he dumps this garbage on idiots who believe the lie telling them "its the next big thing" and buy it while the price continues dumping from 320 satoshi down to current 5 satoshi.
Then he donates a tiny portion of his ill gotten gains (half a bitcoin) to a presidential candidate!
If anything the government should put an stop to this type of scam and arrest such people as Gaius Chibueze.
None of it had anything to do with bitcoin though.
Basically a shitcoin creator makes a useless token called Tatcoin and creates 200 million of that token out of thin air worth about 636 bitcoin and then he dumps this garbage on idiots who believe the lie telling them "its the next big thing" and buy it while the price continues dumping from 320 satoshi down to current 5 satoshi.
Then he donates a tiny portion of his ill gotten gains (half a bitcoin) to a presidential candidate!
If anything the government should put an stop to this type of scam and arrest such people as Gaius Chibueze.
None of it had anything to do with bitcoin though.
I personally don't support the shitcoins considering that I have also been a victim of such schemes. I was just too excited that crypto currency is been taught off in my country as means of exchange. But yeah thanks again for your corrections and advice
Secondly, Please do not bring the country down because you feel you just realized that cryptocurrency is a thing before now. You must have forgotten or don't even know the reason why the Government Banned crypto transactions by all financial institutions via the CBN pronouncement, "ENDSARS" even though Crypto has been in use way before then. You must not have also known about this too?
Kano school accepts cryptocurrency, asks FG to embrace digital payment
What we usually like to forget is the fact that the government is made up of politicians. They are just as human as you and me. They have their own faults, desires and emotional decision-makings.
The best way to open their eyes and absolve them of their ignorance is to do something that they will remember in a positive light. The Bitcoin donation is one of many ways to get them to adopt Bitcoin and then they will undoubtedly try to convince other fellow political parties
The best way to open their eyes and absolve them of their ignorance is to do something that they will remember in a positive light. The Bitcoin donation is one of many ways to get them to adopt Bitcoin and then they will undoubtedly try to convince other fellow political parties
So.. this Gaius dude pretty much managed to "open the eyes" (a.k.a. bribe) the presidential candidate with $16.8k. Yea lol, that's one hell of a presidential candidate if he flipped his opinions with that amount.
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