Ah! I think you are talking about the story of the great serpent that actually swallow money, it's now become a famous folktale among citizens of the nation but I think the view to which am pointing at when I made reference to the government being stingy is that the fact that with cryptocurrency the challenge of third party involvement is cancelled out and people will no longer rely on the CBN for their income regulation of which posses a treat to the system because the government cut all sort of taxes and manover the rate of citizen income.
Yes I am, and I think that is the dumbest story I had heard so far in my life coming from the government official, its so childish and stupid thinking anyone would buy that story, I don't know what they take we the citizens for. Any way let bygone be bygones, even if crypto was accepted in a country by the government, they could still choose to pay their workers using their fiat currency, and from there their taxes can still be extracted. Besides, not every one is into crypto so its not like the use of their fiat currency will depreciate to zero, they can still make some constitution that all government worker should be paid with fiat, then what happens there after is non of their business. I just hope they'll remove the restriction and see how their economy will improve.
We can keep investing in Bitcoin and other altcoins but we should not be deceived by the government trying to make us to keep all our funds in fiat so that the economy is not going to loses it weighs and value. We need to make decisions that would aid us to be a good and profitable investors.
Good point, everything that you should take needs to be back up by knowledge that you gain along the way, not because a government fully embrace the system means that you can trust your investment and will support it all the way, in terms of investment it is always you who needs to adopt and understand all the potentials, both risk and the advantages that you can get involve with, everything needs to be balance and needs to be decided according to how you position yourself and how you anticipate the possibility of making money
The government's standpoint in terms of any financial related investment may give you a hint but not an assurance that it will work according to how it was presented, always do your research and make a proper assessment before deciding.
