Topic: How many of our leader knows the functionality of Bitcoin and cryptocurrency? (Read 188 times)

This is the fact but we're not ready to accepted this truth in the country, we dey allow sentiment to finish us. None of the top 3 candidate where qualifed to lead this country if we ready to tell ourselves the truth but everybody been want their own brother to enter the seat. When we dey talk about youths we dey talk about those in their early 20's to early 30's (this is because of the condition of the country if not e supposed stop for 25 years). You no go dey elect old fools dwy expect them to get better idea about the development of the country. We need to start dey push for youths to be leaders and we too wey be youths need to dey show interest of taking political office as power isn't given but taken. Most of our politicians no sabi wetin Bitcoin be and they no get interest self because dem all dey alright dey thief our money dey put for their pockets.


Make you also know say most of those guys merit their position, most of this things na by seniority so e go hard to change them. And others na by compensation and political recommendations so dis things go hard to stop. I no go say all this men no sabi wetin dem dey do sha because some of them are very educated and well equiped but the system wey dem find demselfs dey make am impossible for them to bring change. Shey you know the education curriculum dey come from ministry of education, like na dem dey oversee education things so you no go expect a particular university dey go against wetin the federal government no approval. Like now we no go fit dey see schools dey teach about Bitcoin when ministry of education never approved am so last last everything need start from the top. Na their the change go begin from and we go rapidly affect other institutions. Once again everything boils down to electing the right leaders.

Let me hit the nail straight on the head about this issue.
1. The majority of the people have been made to believe that almost all the online forms of making money are scam and they are therefore not interested in anything concerning digital currency money making means.

2. With government restrictions and regulatory policies stoping banks for affiliating themselves with cryptocurrency it's very hard for people of that age to care about it in a society that's technologically backwards. At least some of these financial tech development  the bank would have been helpful in driving it's knowledge to their customers and the people trust the banks more as a financial institution hence whatever comes from them would be giving a an undoubted attention.

3. We don't have the right people in politics just a bunch of bigots who coercively found their way into power so what you expecting the dummies to do when they have not yet gotten satisfied with the looting and pillaging.

Let me also follow people that talked about the age range; in this country now, people of that age range, if they are not into tech before or have good things to do already, will not think about Bitcoin because they are focused on what will bring food to their table. I know that there are so many people of that age that adopt bitcoin even when they have not been into any tech in the past, but your main case study is on the street, where content creators meet people randomly to ask questions. These people might be people who are hustling for their daily bread, and because of that, they might have less interest in bitcoin, especially as it is not a get-rich-quick scheme.


What you said is the reality that is happening in most Nigerian universities. The government is not willing to change these tools and lab equipment's, and the old lecturers or professors will not give way to newly graduated students who have little knowledge of technology in them to change the whole system. But who to blame if not our educational system and the government in general for not being willing to spend on technology but spending huge sums of money on unnecessary things, not knowing that if we have good technology, our country will be better?

We can always continue to have different opinions, opinions and take on bitcoin from people, tgis is not what is limited to a particular country or nation, even the advanced countries finds it challenging because bitcoin is aimed at everyone but people that might be affected through it adoption will always kicked against it no matter how, some of them have no idea about it and are not ready or willing to have any, they already know what they are upto with centralized financial institutions amd couldn't encourage for bitcoin adoption while the rest of the citizens go for it, because they want something different from the usual fiat.

No be say these old people never hear about bitcoin or them no go like to know but the problem lies with the government, because assuming in the early stage that cryptocurrency came to Nigeria, it wasn't banned by the government, by now even old papa for village would have known about bitcoin and might want to also have his own Satoshi.

The fastest way of which bitcoin can be known and adopted by our citizens is through the government, because if the government allow banks and institutions or other government services to accept bitcoin, then it will be very easy for everyone to benefit from bitcoin. Like if you can pay your electric bills, water bills, tuition fee and so on with bitcoin, tell me how these ignorant ones would learn, know and own bitcoin.

For the politicians and professors, just the way it isn't everyone that will accept bitcoin even though, it is legalized, is the same way these people are, some of them have heard and know bitcoin but because the government banned it earlier, it might discourage them from learning deep and investing in bitcoin or come to the public and say that bitcoin is good because they are all working under the government and don't want to be seen as someone going against the government law, because they are lectures and need to lead by example.

Your not far from the truth, most older folks don't know anything about bitcoin,  because if you check through those people that are involved in bitcoin, you will notice they are mostly young people who are into innovation and tech.  For lecturers, I feel even if they have an idea about bitcoin because they do research everyday. they don't really have the mindset set to explore it. More like they feel their lecturing jobs is okay with them. As for politicians, just forget those people, they don't even know anything about innovation or tech, they are just interested in oil money and allocation to share every month, so Bitcoin is alien to them.

Anyone of that understand the functionality of BTC and cryptocurrencies learnt so out of the position of economic hardship we are in.
The leaders you so speak of have the means to live comfortably and it doesn't matter what the idea of Crypto or BTC is, it wouldn't give them as much money as the role they play in as a leader in their respective areas.
The youths understand BTC and crypto currency better because it is still a baby as compared to when we began to use the legal tender of this country, which is the Naira.

I would like to begin by comparing the age of those you sampled by the age of the Bitcoin technology itself. You said most of those you sampled are above their 40s and they had little or no idea whatsoever on the Bitcoin technology.

Now, let's assume average age of those you sampled was 45. Whereas the year in which Bitcoin was created by Satoshi is 2009. When you count from then till now, you will have approximately 14 years which means, Bitcoin is 14 years old. Okay, subtract the age of Bitcoin from the age of 45 and you will have 31 years. Give or take, it probably took another 2 years or more before Nigerians began to hear about the technology. And when you add that 2 years to the 31, you will have 33 years. Invariably, those you sampled where around 33 years of age when the idea of Bitcoin landed Nigeria fully.

Considering the peculiarity of life in Nigeria, at that age, you must have add family you take care of with a little paying job or no job at all. What most Nigerians at that age does is to go out of their comfort zone in search of an ends meet. It is also a norm here that at that age, you may be disinterested with any technology that comes out then and tag it as 'intangible'. Hence, the reason why most of them didn't know what Bitcoin is all about.


In tandem with what I mentioned earlier as a factor for why people of that age bracket won't pay attention to such new technology, we also have issue of lack of trust and reservation to accepting new technology. When you come down to the young people at their late 20s and 30s you will discover that even at that age, they know little about Bitcoin and don't really have much interest in it. It is as a result of their reservation to new technology.

It is not far fetched since the lecturers might have had the knowledge of the Bitcoin but will still develope disinterest in it because they believe life cannot be made that easy and simple things fade in time. Truth of the matter is, Bitcoin is completely different and a strong discovery that have come to stay.

As for our representatives, we already have good number of youths representatives but it also requires our perpetual advocacy on the cryptocurrencies as well as proposal to support the young people holding the mantle of leadership since we all, as young people, cannot be leaders at a time.

Op I disagree with you on this. Being a youth deos not guarantee you to know latest innovation like Bitcoin. Or if power is given to you, you'll do better than those old men. Everyone has his/her characteristics. Charity begings at home they said. If a bad youth is given an opportunity, there is no guarantee of change. Moreover the government made us to believe that the youths are the leaders of tomorrow which was only sang as an anthem is primary school. In reality dey can't give the youh that opportunity, judging from the previous experience of electoral system.

I have a house of representative member I know of who knows the functionality of Bitcoin after I saw some stuff he posted about Bitcoin, and after that, I engaged him through a chat to verify. So, I do think they know how Bitcoin and cryptos work but based on their position in Government they wouldn't want to come out clear to testify about it since our government is not fully backing anything related to Bitcoin and cryptocurrency transactions in the country.

Why you dey surprise say dos age range no know about bitcoin and cryptocurrency? If na d range of age wey you think say suppose know more about bitcoin and cryptocurrency na him be dat, to some extent, I go say you dey wrong about dat type of mindset. Dis people wey you see say dem dey dat age range and dem no know about bitcoin and cryptocurrency na becos say dem no dey expose to the ravelling technology and d age has nothing to do with am. Even older people know about bitcoin not to talk of dos wey still dey young. So na lack of exposure to technology cause am and nothing else.


Yes, I agree with you say we need more youths to engage for politics and dis no fit still solve d problem, if d youths no get d interest of d fellow citizens at heart; d problem go still dey unresolved. As you dey yarn about dos lecturers and HoD’s in tertiary schools, dem na people wey always dey learn new things and dem dey see d changes for d world and where d world dey lead to also. But maybe since dem go feel say dey don pass their youthful age all dis no be for dem again, and little did dey know dat their children still dey back dey come. Some fit get intention of teaching dis but since even dem no get d room to learn and teach others, d ideas go just die off like dat.

 Even if them know the functionality, as long as those at the helm of affairs no wan do anything to change am, e go still dey like that. Highest, them fit use the knowledge develop themselves and families, finish. On countless occasions, we don tok of how corruption no go allow our leaders see the better opportunities wey Bitcoin stand to present us, them just dey content on misleading the public with empty promises while them go dey their glass houses dey jolly while the common man dey struggle on a daily to put food for him family table.
 No surprise say some of these Deans you mention know about Bitcoin but ready to argue with you how e be scam and a get rich quick scheme wey dey wait to crash. So the question to me sopoz be "how many of our leaders ready to accept the functionality of Bitcoin and crytocurrencies".

OP, no just go dere, many of our leaders no d function of BTC well well dat is why u see say this hardship no dey finish for ground until dey unbanned BTC in d country before u go see say d hardship go disappear, because house of Senate and representative, majority of dem are bitcoiners if u no no better no it today because, that is were some of dem dey store deir money. You think those money our politicians dey use during campaign is from their normal business money, it's d money dey made from BTC investment dem dey use tak  buy votes during d elections  period bro. Just wait make dis new president pronounce BTC unbanned it is den u go no say even your old man for house no d function of BTC.

That should not surprised you because in Africa di people dey go farm more than formal learning, and knowing the new new things wey dey happens in their countries. But if di leaders no know bitcoin what do people wey dey give advice dem sef no know am? Then what about di minister of Science and Technology weti im dey do there? Di finance people weti dem dey do there? All those people supposed tell di president about bitcoin but all of dem dey there dey pack money dey go hide. Me I know blame those people because di location dem dey sef dey contribute to this knowledge of a thing.
Some lecturer know about bitcoin but dem no know di thing dey move so dem no use am. And if dem no dey use am then dem no fit teach .

I came across a video online where a content creator interviewed some guys on the street about their knowledge of bitcoin/cryptocurrency and I was shocked by their rate of ignorance.

I analyzed the age range of those who said they have no idea of Bitcoin and found out that they are mostly in their early 40s and above. 

This got me pondering on so many things and then I got to realize why a lot hasn't changed in our country even after we have a succession of leaders regularly

Because of the difference in what is prevalent at every phase of life, you can't expect a leader who, during his youthful age saw youths concentrating much on farming and military activity to come up with ideas that are centered on building strong tech guru or even legalize any bitcoin related stuff that he knows little to nothing about.

If you observe well, you will notice that most lecturers, deans, and HODs of most Nigeria universities are old folks who don't even know much about the changes in the tech sectors and can't effect reasonable managerial decisions that will help the schooling curriculum meet up with the demands and realities of the moment.

It's a sad situation but I think it brings us back to the fact that we need more youth involved in our politics and well-represented in the House of Assembly and Senate if we are ready to make reasonable growth in another sector of our country.