Topic: If we had higher magnitude of Crypto adoptors and Literates in our society. (Read 420 times)

I get your own view too but the fact is that we already in the crypto industry knows the potential needs if we've more crypto adoptors in the society, it'd not only add values to the digital currency on the basis that it's an investment technology but also how we can actualize the alternative of mess for payments. So if we've more adoptors we wouldn't be much stressing on transacting on the Centralized exchange where the government has power to decision making unlike the decentralized exchanges.
That's the only way we can manoeuvre this ugly situation. Let's not also underrate the power of the government.

You are absolutely correct to an extent but I don't think the reason why Government is behaving this way is because of the rate of unlearned crypto persons in the country cause even if we have more number of crypto literate I don't think it will stop the Government from doing what they want to do or even if everyone is a crypto literate it can not still stop the Government and off course everyone can never be a crypto literate. This bad economy we are experiencing now in the country, will you say there are not learned people who can speak for the masses of course there's but the Government chooses to keep it that way  cause they know what they are benefiting from the economy.

I don't understand your idea brother, but as it seems now with the current situation of the country, even possessing Bitcoin knowledge can be of great danger to you because the government have so crafted the system that they have installed fear in the heart of many crypto users making it feel as if the use of cryptocurrency is something that is causing the system a problem while the major issues itself is left to haunt and still destroy things in the country and they have pinned all the struggles of the financial sector to one particular happening thing that hasn't gotten the slightest of invention or addiction to the problems of the country itself.

OP You have highlighted a crucial point about the importance of crypto literacy in our society. having a higher number of crypto (Bitcoin) adopters and literates can significantly impact how we interact with digital financial systems like Bitcoin. By reducing the dependency on centralized exchanges and embracing peer 2 peer transactions we could potentially overcome obstacles imposed by governments. It's true that the lack of crypto literacy among the majority can be a challenge. Education and awareness about cryptocurrency( Bitcoin) are key to empowering individuals to navigate this advance financial landscape more effectively. Governments play a vital role in promoting literacy and creating an environment that fosters understanding and adoption of new technologies.It's frustrating when governments seem to benefit from people's lack of knowledge about cryptocurrency (Bitcoin). Empowering ourselves with viral education on Bitcoin  could be a game changer. By spreading awareness and knowledge within our community we can potentially influence  government decisions  regarding Bitcoin. It might be a tough battle but sharing ideas and coming together to educate each other could make a difference.

Well lemme just say we are talking for talking sake because I myself knows too well that even though we talk to whatever ratio they won't adopt they won't but more its better for us here that knows the knowledge or that crypto-orientated to diverse a means for us to do whatever we want like to bye-cute them and handle our p2p to trade without any limitation and restriction.

The thing is, government doesn't want what would open the eyes of the youth because they knows that in up coming election it would be a deaf ears to them because they knows that youth aren't happy with their operations hence they want to hold the youth captive so they would always dance to their tune whenever they need them for electoral purposes only.

Op you point sef follow but make I yan wetin I think.Whether literate or illiterates crypto users,de government go still do wetin there their mind.You too check am na, Nigeria no suppose dey against crypto transaction because Nigeria sef follow for the countries wey dey promoting crypto transaction.With that reason de government fit just tell CBN to announce Bitcoin legalized for our country but dem dey fear say crypto go replace Naira and Naira no go get value,na today Naira start to lose value.The only thing wey go make Nigerian government adopt crypto transaction na when we get leaders for the top dey trade on crypto wey know the importance otherwise the crypto adopters/literates no go fit help mata because na wetin there their mind na dem go do.

Omo that's a really bad idea and way to go about things, I no fit believe am say na this be the actual mentality of the leaders of the country because this kind of thinking na only evil people nai dey get am. But as you talk, na so the matter be sha because some of the stuffs dem dey teach for school na really old and outdated things wey don reach for them to change but yet dem still dey insist on enslaving the people by caging their mentality.

Saying let's go decentralized like how wey we go fit achieve decentralized exchange platform because the system fit dey porous unto say e no go involve KYC so people no go too reason am and talking about non custodial wallets, na person wey chop belle full na in dey hodl or keep yin Crypto for non custodial wallets no be say I dey discourage people wey dey use non custodial wallets but you reason am na e no dey easy for people in the country at all to come dey tell person say make him dey hold coin for non custodial wallets.

In other hand too wetin you dey yarn na the koko be dat because anyhow e be people go still survive so e better say you get hope for somewhere so e go good to just dey accumulate dey go but fear and lack of patience na another thing wey dey worry us for dis country because any small tin na so our body go dey shake.

Having higher crypto adopters or not no body dey fit challenge government o no matter who you be so even if we have people wey plenty wey get the eye of cryptocurrency well well for we country e no go fit change anything so make we just relax because nothing wey we go fit do.

Op I may not agree with the fact that it's as a result of illiterate that make the government Force there will on the people mostly the Bitcoin or crypto currency investor, we operate in a government system where the voice of majority don't count even as it's refer as democracy only few individual determine what will happen weather the masses like it or not the number of people in crypto space is educative enough for a system to work is not a matter of education, many of the things that the masses are enjoying today is not people with high quality education that brings the initiative some are even school drop out. To cut the whole thing short out academic staff union want to enback on strike do to inability of the government to work according to their agreement and this are professor and PhD, master in general degree holders, even with education it will be hard to change a system that is not working especially where the laws and policy only favour few individual and the can carry any action not undermining the masses. This can be achieved where the laws work effectively.

Na we do ourselves for this country, when Bitcoin came into Nigeria, e no start with all this centralized exchanges. Na we use our hand kill decentralization for the country come dey welcome centralization. The way we promoted Binance exchange and their P2P system killed other developments and now wey the government dun attack them, e go take time before we fit fix up something very fast. Normally e no supposed hard to run a decentralized P2P exchange even though wetin go dey their na BTC/Naira trading pair only or any stablecoin then we go need trade our crypto for regular exchange to either stablecoin or BTC before we trade for the DEX wey go get escrow to avoid scamming because without that, boys go use people shine for that P2P.l site.


Lets go decentralized, make we abandon anything wey get to do with centralized because the governments can always come after them. If no be Binance wey stand strong by now the government for dun get details of people wey dey trade from the exchange but dem no fit do that one with decentralized exchange and wallets. If you no dey use non custodial wallets today start now before it's too late because after the governments succeed for this one wey dem dey do, dem fit do another one just to crack down on cryptocurrency entirely.

I don't think there is a measure to take in stopping or stampeding federal government on their stand concerning cryptocurrency. The government unfortunately don't have positive mind about cryptocurrency and that is why they are doing everything possible to frustrate people who are investing on it. The youth or cryptocurrency enthusiast can't do anything about this not even going for strike because no be union like NLS or TUC wey fit down tools if government no do wetin dem want. So we are just at the mercy of government to decide on anything dem want for crypto especially in relation to exchange and not that dem fit do anything relating to wallet. Therefore, for we to be on a safe corner, make we begin dey use decentralized exchange, that one now government no get mouth for that level.

While I'd agree with you is that we're in the same point but in a little misconception how by, you didn't get Mr right. Have a caption of the marked words and read me again.
However, I'm on the buttress to say that the only viable crypto dealers or the citizens in the country at large can maneuver the quest of the government over the citizens and the p2p exchange networks is only kif we as citizens do have more of crypto adoptors by which we may even end up no trading on the centralized exchange networks anymore but we can as much make our payments of the decentralized financial networks using the non custodial blockchains to alternate our payments as p2p and this would only be possible if we've more adoptors than we do today.

Hence we have lower number of crypto adoptors than those unadopted in the society today is because of crypto literacies amidst the people. So you must understand and get it right that only those who has knowledge about cryptocurrencies and also have interest to adopt it for utilizations are the literates. Cryptocurrencies is a digital financial technology which requires perspective education of its digital uptrends in both technologies and the advancement of the world today, it seems too difficult for lot of people in the society due to the advanced understanding that's required.
I can also remind you that you and I are able to invest and adopted this cryptocurrencies because we're knowledgeable to the system which made us crypto literates while there're those out there yet to hear, know and learn about the system before they can really cope with the system by which for now, they're crypto illiterates.

You just have to understand that the knowledge demands in our everyday life is not the same with the World of crypto currencies so that you'd understand my direction of literacies and illiteracies which I'm buzzing on.

Bitcoin is never what we should think about when the space is accessible for everyone but in most developing countries just like Nigeria where the government is doing everything possible to not temporarily stop crypto but permanently banning it. If the Nigerian government succeeds in permanently prohibiting crypto and dismantled the activities, atleast the vast numbers will become jobless more specifically the younger ones. I know the country is in ruins currently following the new infrastructures of the government and I must say, this all new pattern is not helping and its totally out of plans for most of us.

OP, if I can understand you very well, your saying the government have been able to weaponize illiteracy, and also they've been putting out mechanisms and barriers to block the free flow of cryptocurrency activities in the country. So you're more like asking if there is a way we can conquer the government by educating ourselves on cryptocurrency.

First of all, cryptocurrency is decentralized digital asset, that is to say government or their central Banks don't control it, don't forget that government will always look for a way to fight whatever they cannot control, so that is why you see this sort of attacks and barriers they have been putting in place against cryptocurrency recently, however this effort they are putting does not have much bearing as it is an effort in futility.

For me I think the illiteracy on cryptocurrency for Nigerians over time the numbers will reduce, because recently we've seen an upsurge of youth that are involved in tech and other innovative skills that have brewed up, so I believe with time this growth will surely enhance to mitigate the literacy level we have on crypto.

Not far from the saying that "If you want to hide something from an African, put it in words of a book". So it's like the government discovered it that the citizens are growing wiser in education and productiveness to had been so much reliable with the cryptocurrencies and how fortunately good the citizens are fairing with the system.
Apparently with the indefinite exercises of the governments over crypto transactions in the country, it's assumed that the government is not being suitable to see the citizens to financially excel.

First was bitcoin and the rest cryptocurrencies being scam technology as falseful speculations and lately banned of federal financial facilities not facilitation on related Crypto transactions, they're actually seeing the progress of crypto currencies coming to establish and booster the economy specifically based on the adoptors and of recent they're engaging on stopping citizens involving in the cryptocurrencies from executing crypto exchange transactions with the propaganda that it's responsible for the devaluing of the naira.
That's to say those who're not into the Crypto lines due to lack of the digital knowledges would find it reasonable to agree with the federal government that truly the cryptocurrencies is responsible for the naira falls.
And once the government succeds in poisoning the minds of the Crypto illiterates, those who're Into the crypto would be seen as fraudsters in the society due to how the government has convinced them all.
But meanwhile those who're knowledgeable even without adopting to Invest in the Crypto would sure know that the federal government are only being critic and unnecessary faultfinders just to distabilize the progressive insurance between cryptocurrencies and the masses.

There is no doubt that Nigerians have contributed to crypto adoption in the world but using the word 'wider scalability' I assume you are talking about that the rate of Nigerians involved in crypto adoption in the world but I don't know how you got to know that because I don't think that there are many famous crypto enthusiasts in the country and even if their is they are anonymous.

Yes the number of individuals in the crypto industry within the country that are aware of digital knowledge about cryptocurrency is few but it is also as a result of the fact that our government have not fully given a 'go ahead order' to crypto enthusiasts in the country so majority of us that are in the crypto world are anonymous and those who would have developed interest in crypto are scared of the decisions of the government.

I didn't dispute what you are saying but I still stand on the ground that the reasons are being the government didn't create an easy ground for crypto investors hence the reasons why the awareness and adoption is minimal.

Well, why should so much be spent on educating the citizenry when a luxury lifestyle awaits anyone in power. Afterall, poverty, hunger, unemployment, illiteracy are tools of control in the hands of the government of any sovereign nation.

I think if the number of those who actually adopt cryptocurrency increases to include those who are in power, then there would be no choice rather than to adopt it and accept it as an alternative means of transactions and payments in the country.
Its just because the elite class are yet to agree that they have wallets and use cryptocurrency because of the state of insecurity and ignorance existing in the nation and even within those who claim to be the leaders and have had some level of international exposure, that's why it's still under much scrutiny from the government.

Have you ever wondered why educational curricula of schools have not been reviewed to have modern-day relevance? or why there is very poor funding for the educational sector? Why would political leaders rather send their children to schools in other countries than schools in Nigeria? I think it is all an intentional act to make sure that we do not get too educated to begin to challenge them. It is too bad that it did not work, The internet offered a window of opportunity for the youths to learn many things outside of what they have been subjected to learning in school.

Obviously it is in the nature of most Humans to take advantage of others who do not have any idea of what is going on in a particular field. That is why there is a saying that what you do not know is bigger than you. Of course the government are aware that to most people in the society Bitcoin is like a mystery to them and these are the people that they are using as a tool to fight others who are into the cryptocurrency world.

They feed them with the idea that people who are into cryptocurrency are fraudsters and that they should avoid anything that has to do with Bitcoin. They also spread the rumour that we are the people causing the increase of Dollars to Naira and that is why there is a high rate of inflation in the country.

You have clearly made a vital point by visualizing the course of the government standing against the successfulness of Cryptocurrencies to penetrate amidst to the Utilizations of the masses.
While trying to align with the OPs conception about the government making profitablities to the level of literacies in the society, I have think it is also a good point to be revealed because if we can figure out the implications towards what the government has spread in the country with their disagreements with Bitcoin and the rest of the Cryptocurrencies and the exchange, we would understand that they are afflicting disruptive impacts in the minds of those who are at the point to adopt the Crypto currencies by fuming fear amongst them who are Intellectually weak and those who are not knowledgeable about the Crypto inventories.
So I think the government is on that high trick to disengage the masses not to massively adopted that digital Crypto system.

You @Su-asa has as well made it clear that the MFB is gradually taking over the commerical banks due to their inadequate and inconvenience services which the Micro Financial Banks has put to advancement if offering those reliable and confidential services.
If we can have a foresight, this is one of the reasons why the government is rejecting the MFB from association with the crypto transaction because they knows that the MFB offers flexibility service to facilitate on transactions.
So invariably the government is afraid that the Cryptocurrencies technology is an approach to also depress the naira under the watch of the federal government.