Topic: How can we make the government know that Bitcoin is not a scam? (Read 353 times)

The government we even talk about, are individuals like me and you, who want to make more money and be said to be financially free and want to live a better life that isn't controlled by anyone else's opinion or policies.

It is when they come together in their chamber of meeting to discuss and see how they can also profit from crypto currency and Bitcoin as a future currency of value and a hedge against inflation that is already crippling the economy both in micro and macro units, that they feign ignorance for the existence of Bitcoin.
Even as they already went ahead to create the CBDC initiative, all that is left and that is being done is the use of the SEC to ensure that exchanges offering crypto currency services in the country are taxed and regulated.

The government is aware Bitcoin isn't a scam because Bitcoin as a currency has allowed itself to be authentic in it's delivery of value and even opting to be centralized in many instances as well as with the ETF approval.

In my own opinion, I think Launching educational campaigns can go a long way,to inform government officials and legislators about how Bitcoin works, its role in the financial system, and the safeguards in place to prevent fraud and scams.

I think by engaging in this activity, the government can be more informed about Bitcoin and its legitimacy, potentially leading to more favorable regulations and policies for the cryptocurrency.

That's a cool one. The government actually know the reality phenomenons of crypto currencies and there had been countries which is far ahead Nigerian in both developments and economy infrastructures which are even a role model to Nigeria which had adopted a free and fair utilizations of cryptocurrencies in their societies but due to our own governing system, we need the to be able to balance the process so that it doesn't result to a worsen condition for us.
Let's understand what it means to give such a decentralized system that being must influentialy dominated like bitcoin given the 100% chances to excel while the government hasn't set a template for such project. Of course it could be something to blame the government in time if it results negative beyond what it thought it was

You don't need to force or tell the government to accept that Bitcoin is no scam, before you even have idea of Bitcoin,they are aware of it ,they understand it better than you do and are also bitcoiners ,they will lecture you on Bitcoin, the problem is that, Bitcoin can't be controlled or owned by the government because of it decentralized nature , security control, inflation control and the P2P nature and other qualities of Bitcoin. They want to control your financial transactions ,but not possible for them.
 Imagine what our currency and the country has to pass through in their hand such as devaluation of the currency, excessive taxations, inflations and others , you know our government now ,they don't want the common man to survive or grow, is as if our lives are in their hands, being held to ransom because they want to control the citizens lives to pinery while they are being exalted, for the fact that it is P2P system Bitcoin is operating,it would be difficult for the Nigerian government to accept it . With the present economy situation,they are pretending as if they don't know what is wrong, and what they have to do, instead chasing shadows, it's unfortunate that this are the kind of leaders we now have in Nigeria.

Government no be small body for any where for the world, d government of any country dey at advantage of getting any information wey dem want over all the citizens because na dem get power for hand, so to dey talk say government advisers no dey educated about cryptocurrency na something wey me I no go agree with you because I know say all those men e no go cost dem anything to say dem wan go into research to know more about wetin crypto be, infact I feel say dem don even do d research reach were dem don discover say na somtin wey dem no go fit control, So na y dem just say na scam based on say na something wey dia power no go fit reach control.

If to say na something wey dem go fit control from d government, dem for don adopt am den start to dey control am so dat e go dey benefit dem directly but as dem see say dem no fit, e com be like say to dem na bad thing as dem no get power reach dat side,s o dem no go fit benefit from am well. All those advisers dem go don do research or even pay pipo wey go run d research for dem so dat them go fit understand wetin d crypto mata be, so no be lack of education or information dey cause am, na d fact say dem don even dey informed about am and see say dem no fit do anything dem just wan leave com tag am like say bad bad tin.

To make the government understand say Bitcoin no be scam, e fit help to educate them well about how Bitcoin and cryptocurrency work. Back in the day, many people think say Bitcoin na scam because of the info wey dem hear from people wey no sabi about Bitcoin and cryptocurrency. But as we don dey learn more, we don see say Bitcoin get value. Technology don advance well well since then, and people fit do better research now with the internet and all. People for those days bin dey believe wetin dem hear from news and newspapers without really understanding Bitcoin. Now, with better technology and more access to information, we fit help educate others, including the government, about the benefits and legitimacy of Bitcoin. Nowadays we get plenty smartphones and laptops wey don make am easy for everybody to research things when dem see for internet or anywhere. E dey surprising say some people still dey believe wetin others talk, especially when e concern Bitcoin and crypto. Many people dey make things hard for themselves because dem dey quick to believe wetin others talk without doing their own research. E dey important make everybody take time do their personal research before dem draw conclusions.

To help the government understand say Bitcoin no be scam, e fit help to educate them well about how Bitcoin and cryptocurrency work. Some advisers no sabi well about Bitcoin and crypto, so dem fit dey give wrong info to the government. E dey important make the government do their own research before dem decide to restrict or ban anything wey concern cryptocurrency. By educating them on the benefits and legitimacy of Bitcoin, we fit help change their perspective.

My brother you are very correct na just this thing wey you talk like this na him dey pain our government as be say them know no how them go take dey control Bitcoin because them already no say Bitcoin no be scam but e just dey pain them say Bitcoin dey put food our table, although them know even remember say if no be say Bitcoin dey wey youths dey talk hold body say violence for don to much for this country, Bitcoin awareness don make us we no dey think of bad thing again.

You no go blame them, everything that came before Bitcoin that's been operated without a physical location has turned out to be scam in the country so people go normally think say others wey dey come now to claim legitimacy can also become a scam later. You wan start from ponzi scheme to take forex  scheme too wey dem dun use show our people shege for this country. Real estate wahala to and other online scams dun do people something so anytime wey dem see anything wey get to do with online, they'll always be doubtful but it's your duty to enlighten people when we come across them. Smartphones dun full everybody but my brothers and sisters, nobi everybody wey sabi use the phone wey dey their hand and some people are just used to believing what's publicly being said about things trending.


They know but calling Bitcoin a scam or not giving it attention is the best way to kill it based on their own thoughts although all those ones just dey make Bitcoin more popular and strong for the country. Dem know say dem no go fit contain/control Bitcoin so dem no want give greenlight to anything wey go take dem out of charge. The government wan dey dictate wetin go happen and wey no go happen especially for finances matters since na money wey dey control the world so dem know wetin dem dey do but make we no dey fear, time go come dem go tire as dem go see say dem no fit hold Bitcoin back anymore and by then Bitcoin go dun gain better ground to sell well for the country.

You can only make those understand that Bitcoin is not scam only if they already thinks Bitcoin as scam but how will you try and make someone understand who knows Bitcoin is not scam but still they call it as scam since they don't want to lose control over the finances.On the other hand bankers and banks will be vanished as people will not prefer bank hence they will not let it happen.

Firstly, the rulers of this country is far more older than crypto and Blockchain technology as a whole, crypto started 2009 and this government is really far more backward and understand nothing about how it works and the problems it's solving.

Secondly, the Nigerian government always want to control the citizens in every of our banking and payment systems for their own benefits but crypto working principles refuse to give them that edge to take control of our spending. The statement "Be your own bank" mostly used by crypto wallets already is fighting against Bank which is owned by government, so what's their gain when we are in charge of our own bank not theirs, what do you expect them to do, to stop it and uses the word "scam" as an excuse and reasons for stopping.

They already know it's never a scam thing but no way for them to control the citizen's funds in crypto, no way.

In my own opinion I believe that our government already know that Bitcoin is a not a scam but in Nigeria we play politics in everything even in a real life business especially when it involve something that create positive impact to the masses.
One of the major reason why our government is not promoting Bitcoin is because most of our government officials don't have the interest of the people at heart, they want their supporters to remain poor so that they will always be loyal to them, they knew that Bitcoin had the potential of changing the lives of the people for good and as such if the people are financially independent they will oppose some of their corrupt practices.

Also all the government of every country know say bitcoin no be scam. Even many of the government people know about bitcoin and dem do also invest in bitcoin too. But wetin dem dey try do na to balance the bitcoin with the reality of their economy. Na em make every country have their own different rules about cryptocurrency wey dem dey carry monitor and regulate cryptocurrency.

See, no matter say we wey dey here like bitcoin and cryptocurrency, even if I become the president of Nigeria today, I no go quick give cryptocurrency free hands. Country like Nigeria wey the currency and economy no strong need better crypto laws that will boost the economy. Many loopholes dey for bitcoin and cryptocurrency. Na to approach it small small...

Government advisers might even know what Bitcoin is all about more than you do, They're educated and some have read Bitcoin white paper,  Government knows that Bitcoin isn't a scam but are fighting Bitcoin because they can't control it and cautious about if they give people free hands to use crypto it my affect the strength of the local fiat which is why they're doing everything to try to fustrate people that is into Bitcoin and crypto transactions.

Our government no get better advisers and am sure they are all leading each other blindly because no be today bitcoin done they, na now then come they see bitcoin as threat to our currency other countries they invest our own they give excuse say na them they spoil currency. If them ban the whole p2p na that time them go see problem because the thing go they out of site for them to think them fit regulate am. And waiting our government no understand them ban am them no ban people most do crypto for this country even country like us no fit do anything again talk more of our government so make them rest. Because crypto come to stay for naija. And them go leave am that way.

Government know say no be scam and them self no wan ban am again because they know say na investment matter, invest and you get your profits abeg how that one take be problem to the government wey other matter they to concentrate on. Our government self know waiting they stake so them go watch every decision wey them they make towards crypto because people do already establish for the thing so waiting government come want from people again.

I was also surprised to see that it was only Fintech banks and not the commercial banks so when someone asked I told her that it was a planned work from the commercial banks. Because if only the Central Bank would issue such warning then it should be all the banks and not only Fintech banks.


Therefore in my own understanding commercial banks were the ones initiated this Fintech banks to stop news registration and stopped cryptocurrency transaction because people were not using their (commercial banks) again, so they were losing costumers and their income were getting low. So the best way foe them to do is to collaborate with the Central Bank and stop the Fintech banks on that. Because when those boys make transaction, the banks are getting good return from their levies or other transactions.

My big bosses I have no doubt on what you guys are saying about government knowing Bitcoin/crypto currency, buy my point out is there are some people there that doesn't know what Bitcoin is, they only know that Bitcoin has a decentralize nature because they can't control it. The government knows about Bitcoin and they are fighting against p2p because many people now use Opay palmpay and other MFB for transactions. IMO the government are not fighting only MFB but they are also fighting Bitcoin.

Right now I don't care whatever the Government see or take Bitcoin or crypto as cause I know they are deliberately doing those things they are doing because if they succeed they are going to be gaining alot of which that isn't going to happen and their plans will not work. Government is not ignorant of what crypto is that is to say that Government knows that crypto is not a scam, it doesn't start today and it will not end now so it's going to be pointless and a waste of time and energy to let
the Government know what they already know. Make everybody just mind their business and do their thing, make Government go mumu theirself. I believe say with time them go tire to chase waiting dey no fit catch.

I concur to this facts as it got me thinking why situation like this can occurred even when the commercial bank keeps on receiving from P2P, all what you stated is not far from this this has always been one policy that is difficult to eliminate in our nation the existing firm, organization, company or investor always has strategies of fight any other close substitute that is trying to share the market with them as they tends to monopolized the system and stop any attack or introduction of new system close to what they practice.

They levy all sort of causes just to tarnished the image of others to enable them have dominion over the system I see this part as one of the wrong strategies out government is not ignorance of it as they take parts in playing this role, our government know that crypto is not scam but the allies they has build with this commercial bank and the little tax is making them to fight on their behalf, but be it as it may crypto must find it way and over come mist if this plot or strategy of trying to rubbish them by their opponent.

I believe the adoption of Bitcoin is falling into pleasant places as time goes on, the rate of adoption is becoming wider as time goes on. If we are to look at Bitcoin involvement over the years compared to today we can see a good margin,the involvement is getting wider and never reducing.

The government are fighting P2P because they have an interior motive to it, why do they seek huge compensation from these exchanges, they are not fighting Bitcoin or Cryptocurrencies if not they would have suspended us from accessing any exchanges.

Very valid point, i been dey discuss with my friend the other day, and i think this is an attack against fintech firms like Opay, Palmpay, etc, by the central bank on the request of commercial banks. All of us know say fintech firms like Palmpay, Kuda, and others, are really affecting the commercial banks in our country, as many of their customers are now moving to these fintech banks for faster transactions. Now in order to slow them down and scare customers from them, they stopped them from onboarding new customers and to display the message you posted above.

Commercial banks are also used to receive money in p2p transactions, why were they not also stopped from onboarding new customers and why were they not directed to display that message, just as these fintech banks did; it is quite suspicious.

All of this, our leaders already know that bitcoin is real, they just don't own any of it and they want to stop it in our country so that we can't use it anymore. The only thing the government can do is stop crypto exchanges from doing P2P in our country, so that we can't swap our coins for naira. I simply think our government can like its citizens to run crypto, but all the people that are opposite him are the people that control him to stop all these crypto transactions, and I just know that no matter how he tries to block many p2p in different exchanges, they will find another means to run there. So, assuming that our government is unaware that bitcoin exists is a lie. What @Charles-Tim stated is correct. they are lying about cryptocurrency contributing to the Naira's devaluation. When things go up in price they say it's because the dollar is high, and when it goes down, there's not change in the price, so I don't see anything that cryptocurrency is causing in the economy all I see is that our leaders are just hurting us and don't want the country to improve that is what am just thinking about it.

The government already know say Bitcoin no be scam, na them know wetin dem dey do, dem just dey vex as e be say Bitcoin no fit get to their reach and them no fit control am, because they won dey in control of it, e just dey pain them as e be say Bitcoin dey put food for most people table, they just want mk we just dey suffer, dey create more violence and make corruption just dey increase, which is very very bad. So them no know the game wey them dey play and I thank God say the founder already know wetin go happen na e make e make mk e no dey under any human control and I happy as e dey like that self.

The government knows that Bitcoin is not a scam and I see no need of convincing them that bitcoin is not a scam.Back then when online means of making money grew rampant and the scam whole kind of stuff was also increasing most people had the fear that all online means of making money is a scam,and when bitcoin came into existence lots of persons thought it was a scam project but with how long it has stayed in the world it's well convincing to any person and even to the government that it's not a scam.
I don't like convincing someone about Bitcoin,that is not a scam,the thing I'll do is,tell you about bitcoin and tell you to go make your research because it's from your research you'll get more insight on Bitcoin and cryptocurrency.

First of all, who are the government? Na we be the government and make we tell ourselves the truth, some government officials sabi this thing called crypto or bitcoin to be specific pass some ordinary person. Dem know the truth say bitcoin is not a scam but dem dey pretend thinking that we don't know the game they are playing. Sometimes, I dey give them benefit of doubt say na because they know the kind people we are for this country and if given full and free access to crypto, people go begin dey abuse am to launder public funds and stealing go dey on high but even if na wetin dem dey fear be that, denying us access to crypto is not the best way to combat that.

I dey respect government decision before when dem remain neutral concerning the issue but as dem dey take the matter for head now forgetting about the major issues facing the country is the most useless decision I have seen from this administration. Why making the whole thing look like a fight when they can easily set up and design a regulation guiding the usage of crypto in the country. If tax is there problem, we go pay the tax if dem put regulations in place than trying to deny us from having access to the technology.

Na government still dey lose the fight as dem dey form strong head and continue with the fight against the crypto in the country. Firstly, despite their efforts to stop us from using the service, we dey use am like nothing even happen. Secondly, the tax dem suppose dey collect from people using the service if dem allow us access and regulate the system, dem no dey see am collect. Finally, the local currency wey dem dey pretend to be protecting is becoming more valueless day by day because of their careless decisions.

As it is now, they are just ashame to revert their decisions since they claimed it will work but they make things worse. The only way to go now is to have a rethink and derive a measures to regulate the using of crypto or they continue to be on the losing side until their brain reset.

The issue of government fighting cryptocurrency or specifically Bitcoin, is not peculiar to Nigeria, we have some countries where there is total ban on Bitcoin, some other countries have different strict regulations on it. Globally I think that governments are not comfortable with a decentralized digital currency, that is why they fight it with ban and restrictions. Coming to Nigeria, I believe that our government is very enlightened and know the importance and advantages of Bitcoin, and they know that our youths are benefiting in different forms of cryptocurrency businesses, but they want to use cryptocurrency as excuse for their incompetence. The only way that we can convince our government that Bitcoin is not a scam is to continue hodling it, despite all odds, because we can't fight them.

I completely agree with your assertion. However CBN also is afraid of the fact that people can actually take their financial life into their hands without government being involved, like people can actually be independent financially and to them that poses as a threat, because they seemingly want to control all the financial flow that comes into the country.
The CBN level of bias is so nauseating, because why are you sanctioning fintech companies from registering new customers, cryptocurrency trading and all what not, then you leave the commercial banks like that without a sanction.
So they know that bitcoin is not a scam but they are unwilling to accept it wholeheartedly.

I will agree with you that due to the conception of our primitive living and the lately exposed to advanced technologies such as the communication technologies, we have lately adapted to so many trends which might be thought of not being realistic.

Let us imagine rodd tell those those still living in the primitive that there is an existing digital financial system as bitcoin which you can only utilize the fund on p2p using the electronic devices to execute your transactions whereas, you can no have the fund on physical cash. Of course it would sound odd and unbelievable.

But here we are , education and advancement of technology has brought us ris far whereas, we can rest our motives on research at where it is complicated.


I stand to be corrected that the government knows more than you do about Bitcoin, they are aware that Bitcoin is not a scam and you can not convince them (government) on that instead they have been the one convincing you that Bitcoin is a scam while they are being aware of the reality fact about Bitcoin and that is one of the reasons why you and I came late in embracing this Bitcoin industry.

The government only fears that the digital financial system known to be cryptocurrencies is a decentralized blockchain where they (government) would not have their authority and audacities over its control. And moreover, the massive adoptions of Bitcoin is insighting tensions on the government so, the government seems jealous and unsafe that the fiats would loose value if Bitcoin succeeds to dominate the fiats but to me, that is stupid because everyone who has Bitcoin would still be at use of the fiat.

Maybe I should say it is basically out of their greeds because they can not control the decentralized system and have those chances to launder the public funds as they do in the centralized financial system.

Obviously the government knows that Bitcoin is not a scam but the thing is that they are just afraid of something which is decentralization, decentralization of Bitcoin has made it impossible for any entity to have power over Bitcoin, the countries you mentioned deemed it necessary to adopt Bitcoin as a means of payment beciause they understand what technology can do for a country and they let go of their selfish interest to allow Bitcoin come to the day light, they also understand how important Bitcoin is to their revenue system, apart from transacting with Bitcoin, taxes can be rqised from Bitcoin too, there are mining farms in the US and these firms needs constant eletricity to function which US provides and tax them for it, Nigerian government is only after selfish Interest at such they have failed to allow such a big technology like Bitcoin and other crypto to run freely, this country can grow their electricity because of bitcoin but greed and anti-peoples policy womt allow the government  to do the needful or think to that effect.
If they are afraid of money leaving the banks, what have they done to help people invest in the banks with good returns, Bitcoin has created that avenue for people to invest and get profit in the long run and as it stands there is nothing the governmemt can do about it, soon they will come to leave with this innovation and accept it with good fate.

When I started cryptocurrency, it was so easy to believe that cryptocurrency was a scam because there were more scam projects than real projects. Knowledge about how it all works was not there so bad people practically used cryptocurrency to scam people. I will not forget the various types of ponzi schemes launched using bitcoin which people joined thinking they were investing in bitcoin without knowing they were being lured to scam. Bitcoin was easy for scammers then because they thought they cannot be traced using bitcoin unlike now that we have seen that bitcoin transactions can be traced when it passes through CEX without being cojoined or mixed.

I think our government are still thinking the old ways, most of them are old men that are not conversant with the technology behind bitcoin, so it is just easy for them to conclude that bitcoin is a scam the moment they see one scam activities being perpetrated through bitcoin. A lot have changed now as people became more aware of bitcoin but it seems some officials have their mind fixed on the negative side, the reason our government is being deceived by few ignorant officials into thinking that cryptocurrency and exchanges are the problem of our economy and not government policy. It will really be difficult convincing people who deliberately decided to call bitcoin a bad name to believe that bitcoin is not a scam.

Which government are we going to explain to that bitcoin is not a scam? The government that knows what bitcoins means? We don’t have to explain anything to the government because they are banning all the p2p Nigerian exchanges, they all know that bitcoin is not a scam and I there are many of them that have bitcoin in their wallet now, did you know that they are doing this just because they don’t have access to people wallets, the government have ask many exchanges to provide the Nigeria currency people details and they refuse to give it out because they know they that will be a problem for them, the government are angry because they don’t have what they want and by god grace they will keep suffering without not having a single person detail.

The government are the real scammers in Nigeria, they don’t know how people suffer to get money but they know how to stop them from cryptocurrency, I don’t even know the value of government in Nigeria again because instead of them to be protecting us they are trying to scam us, that is why our country never progress and every year someone will be facing a lot of problem and things are getting worse all the time, nothing remain in Nigeria than prayer because when things don’t work out we pray for things to be better.

The truth of the fact is that government already know that Bitcoin is not a scam, but yet still prefer fiat over it, since they have control over fiat, and could regulate it's inflow and outflow for economic stability, unlike Bitcoin which they don't have control. And as such tends to discourage people from buying and investing in Bitcoin, but rather fiats where they have control over their funds and could tax it appropriately. So I think the question we should be asking now is "How can we make government accept to regulate Bitcoin?" and not "How can we make the government know that Bitcoin is not a scam?" because they already know it's not scam, and are investing in it secretly.
However, one of the reason government will always prefer fiat is the commission they tend to generate through fiat transactions. That is, imagine #20 are been charged per transactions, and in a day almost 1 million transaction are been made in a day. If you are to calculate it, it will be roughly 20million Naira daily.

There is no need to let the government know that bitcoin is not a scam because they are aware that it's not a scam. The reason why bitcoin was created was because of self-custodial, which will prevent the government from spying on you, deciding how and when you can do your transactions, and also not being able to scrutinize your transactions. So the government will not want to legalize bitcoin so that they will still have the power to implement a policy that will make them treat us the way they like without us having any choice but to adhere to it. For instance, the policy the federal government wanted to implement would have allowed them to take 0.5% of any transfer we make each day, and the money would not be accounted for. Bitcoin will stop the government from implementing a policy that will help them enrich themselves because people will make use of the alternative payment system "bitcoin" to pay for goods and services if such a policy is implemented. Bitcoin will be free to use in our country when we have a president who means well to its citizens.

What the banks are after is P2P trading. But I was Well I think you are not alone on this thought because I have pondering on the reasons why they would only limit the Fintech banks to registration of new account and allow the normal commercial banks or do they feel that those those commercial banks aren't also used for P2P transaction? Well this is Nigeria where the government always thinks and act sideways of the issue at hand so am not surprised but the funny thing about this whole issue is that despite the restrictions on these banks and also bans on some popular CEX, trading of Bitcoin and other assets seems to continue as normal and even the goals of what they all these actions for continue to worsen by every day so it's just a stupid move by the CBN if you ask me and with time I do hope someone with an insight to all these things can actually be elected as the CBN governor and maybe put an end to all these shenanigans.

I can conspicuously say it's not in our place to make the government of our country to know that bitcoin is not a scam when they have chosen to stick to their guns of not accepting the reality of it. In those other countries whose government has adopted bitcoin El Salvador for instance and others like the US where bitcoin is being used today for different means of transactions, was it the citizens that made it known to their government that bitcoin isn't a scam?

The government has all the instruments within their reach to know everything about bitcoin (cryptocurrency) but their inability to build an economy that can match up with the the development of the trend makes them muzzle crypto at all cost not to thrive among it citizens as they fear that a lot of money will leave the traditional financial system of which they are in charge of into crypto in search of value for their money as hedge against inflation which fiat (Naira) is unable to give.  Watch out all the countries that places no restrictions on bitcoin most of these countries are countries with a soaring economy policies.

Bro, first of all you need to understand say  Nigeria generally don dy informed, we get more knowledge than before, so no need to convince anybody because people know say Bitcoin no be scam, check the current trend now way dy happen for our society, wey be; I hope you dy tap, people now no say Bitcoin and cryptocurrency at large no be scam, all those days wey people think say Bitcoin na scam don pass, and na because of wetin MMM do most people nai make Dem been see Bitcoin like that, but Bitcoin don change people mind finish over the years, so I no believe say anybody need any convincing now.

And as for our government, who tell you say them no know wetin be Bitcoin? Dem dy more educated than you, them hire the best lawyers, financial advicers, and tech gurus wey dy work for them and wey dy tell Dem what's up if them no know, Dem just dy fight cryptocurrency because of the way dollar dy rise everyday, Dem no care if the youth dy use am survive or not, na the dollar wey dy rise wey Dem no fit stop, nai dy worry Dem,  wey dy make Dem fight most of these exchange, wey e come be like say na Bitcoin Dem dy fight, so my brother, in this 21st century wey we dy, wey dy more enlightened than you can imagine, so I no think say our government need any convincing about Bitcoin because Dem know already.

The government already knew that Bitcoin is not a scam but the only reason why it seems they are not too comfortable with Bitcoin is the decentralized nature because they are always after projects that they can control and know how things are being done and how they can generate revenues from it and taxes are paid so since all these things are not in their control that is why they are not forward in giving us a crypto friendly environmentl, the government are mostly after the cause of Naira devaluation that is why they are trying to halt crypto exchanges p2p platforms so they are not fighting bitcoin directly because they already know they can't be able to fight it if not they couldn't have lifted ban they placed on cryptocurrencies before.
You need to understand that government always want to have their own share in any project that it's citizens are into within the country so since they are not able to have easy access to people's transactions that is the reason why they are acting strange and looking for a solution in the wrong places but I believe with time they will have no other choice than to let crypto enthusiasts be.

They know that bitcoin is not a scam. What you are seeing on Opay, Palmpay, Kuda and Moniepoint are directives from the CBN which do not know what they are even doing. I guess you saw information like:


What the banks are after is P2P trading. But I was wondering why commerical banks and other banks were not told to stop registering new customers and start displaying the warning.

P2P trading continues.

Is it crypto that makes Nigeria GDP to fall from $568 billion in 2014 to $252 billion in 2024? They have bad way of handling the economy but now they are lying that cryptocurrencies are contributing to naira devaluation.

Years back, most of us believed that Bitcoin was a scam project because of the kind of information we got from unknown people that don't understand Bitcoin and the world called cryptocurrency either. But today we are all bitcoiners/bitcoinists. However, one reason why many people believed that Bitcoin was a scam project those days might be because technology wasn't advanced then. Let's check during the year 2009, there wasn't a smart cellphone that's smart like the ones we have these days. People in those days did not do their own research and many people only depended on the radical news or the newspapers 📰🗞️. And then the amount to buy a cellphone was high and a lot of youths then couldn't afford it.

But today, we have more smartphones and laptops, PCs and these have made things easier for everyone to do their own research whenever they come across things from ads on the internet or elsewhere. But I still wonder why many people these present days still put their knowledge of what people say about something (mostly when it's Bitcoin, crypto-related things). Most people make things difficult for themselves because they easily believe in what other people say, and they make their own conclusions without consulting their own research.

IMO, people who believe that Bitcoin is a scam are the people that can easily be scammed if a scammer sees them. Some government advisers are not well-educated about Bitcoin and cryptocurrencies. That's why they tell the government in power that Bitcoin is a scam, because no one controls it and the government also fails to do their own research before making their own conclusions to restrict or ban any bank account that deals with crypto currency transactions.

Now my question is: how can we make these governments know that Bitcoin is not a scam?