Topic: Impact of cryptocurrency to national security (Read 102 times)

Op all what you are made mentioned is actually the facts why many nation like naija has crash crypto currency is actually making it ways in the life of the people due to hardship and unemployment and failed policy but those who engage on it most have a way of being smart in the system because every good thing has it bad side which is not far from the current happening as those who always work against good thing such as scammers and developer of fake projects and mining site to scam investor are all over the environment of the crypto system.

The first thing one must put in place is to seek good knowledge before taken any opportunity open to crypto to avoid this mess of scam, not just that alon investing wisely and diversifying your investment in order aspect like real estate and other not just solely replying on crypto is actually a good move apart from diversifying avoiding entirely any shiltcoin, altcoin and meme coin that can't withstand the market but only deal with BTC for long term holding is enough to avoid any unforseen circumstances that many Fall into mostly the scam.

I used to think that Nigeria total population was around 200m until checked Macrotrends and realized that it's now around 229m millions with growth rate of 2.4% yearly, now imagine how this numbers will look like in the next 10 years despite the high number of poverty.

With this number, more than 70% of adults aren't employed, I'm not sure if the numbers has reduced currently but with this hardship, it should be higher or be in that range for now. This is why a lot of people engage in crime that gives us this insecurities today. You can't have this type of people with hunger and no jobs and you don't expect not to see crime. This is why many people take opportunity that comes there way and despite that the government is trying to ban crypto activities in the country, it doesn't yield anything but failure.

Crypto is the common man way for nobody to become somebody if you are dedicated and discipline. I have seen some people that do learn basic programming turn developers doing something good for their self, this is the good opportunity of crypto and everyone should embrace it and forget about government helping them.

Cryptocurrency can actually do it's own bit especially to help mitigate the unemployment rate in our country if the youthful population gets involved in crypto activities. But don't forget that, Nigeria is a country of over 200 millions persons with more than half of that population submerged in poverty, so there is little cryptocurrency activities can do given the fact, a good number of that population is not literate enough to understand the intricacies involved with cryptocurrency. So for me, the onus lies with Government to rise up to the accommodation and nip the situation in the bud by improving the Power sector, so that small scale medium enterprises can strive, engage the population on productive schemes, by doing these you will see an improvement in our security system as crime rate will reduce.

My bro na true talk be this, although say crypto currency get en wrong usage and also bad people wey dey use am for those purpose, but you also forget say before crypto even become famous for this our side men Don dey use fait and bank dey do that same thing, infact all this crypto news na false accusations wey government just dey blame dem, we all know that the situation with our currency is as a result of the excess money that was printed during the last election, it has nothing to do with crypto.

Ma broda forget about these things you have mentioned about negative impact of crypto because all these things you even mention sef dem still dey use their fiat dey do especially when you talk about money laundering, them no get any Nigerian politician wey no dey thief money through fiat currency, ah be you no dey see the massive money wey people syphon from their Nigeria account to their abroad.

Cryptocurrency cannot eradicate poverty and insecurity in Nigeria, it is not the antidote to stop Boko Haram, kidnappings, banditry and the rest of the insecurities that we are facing in Nigeria, today. A very poor person and an unemployed person can not engage in cryptocurrency, whether it is in investment or trading because you need money to invest and trade cryptocurrency, that is why somebody needs a job or a steady source of income to be able to benefit in the crypto business. Without having money to buy and hodl Bitcoin, on a long term and to do DCA method to increase your holding, you cannot invest in it, so it doesn't really help to combat insecurities in a country. Although I agree that cryptocurrency has provided an opportunity for many people in Nigeria, to invest and trade different coins and tokens as businesses to make profits, It has given a lot of Nigerians avenues and open doors to adopt cryptocurrency as sources of income.

To combat insecurities in Nigeria, our government needs to tackle the root causes of it, until that is done, the insecurity incidents will continue to reoccur. An idle mind is a devil's workshop, so if most of our youths are empowered, it can reduce insecurities, the unemployed needs skills acquisitions, homeless children needs to go to school, poverty eradication should be our government's top priority to combat insecurities.

Looking at the impact of cryptocurrency from the positive side .you will literally agree with me that. Cryptocurrency has impacted heavily in
 
Increasing opportunities for illicit activities: Cryptocurrency can be used for money laundering, terrorism financing, and other illicit activities due to its anonymous and decentralized nature. This can pose a security threat to nations by facilitating illegal transactions that are difficult to trace or monitor.

Poverty alleviation in the case of most cryptocurrencies just boggles your imagination. If you don't set your goal then you are pretty sure you will be loosing. There are many shitcoin in the market who just grab the valuable margin of investors and disappear. Those are also cryptocurrency.

If you decide to deposit or invest bitcoins for a long period of time then you can definitely expect good profits. Because it has proven time and again that it can give investors high profits in decent form. Bitcoin can be financial security for you when you know its proper use. It would be a good idea for you to start saving from day one if you have enough floating cash. You decide your goal by depositing Bitcoin it can give you financial security as well as hedge for a country's economy.

There are better solutions to the increasing cases of insecurity in our land and cryptocurrency has almost zero role to play in this regard. Most of the people that are possing security threat to our national security don't even know a thing about cryptocurrency or how they can use it to help thier financial life. How many of the nija delta militant, the boko Haram, or the agbero on the street is conversant with Bitcoin investments or trading? Do they even have the basic knowledge on it?

To solve our national security issues you should be talking about getting the youths to learn skills and providing job opportunities for them so they don't waste there lives hunting for what doesn't belong to them. We should also be looking at discouraging our youths to desist from being used by politician as thugs to carry out there dubious activities. Cryptocurrency isn't for everyone and while some people would need to get involved in it, we have to be open enough to know that other section of our economy plays a major role in decreasing the level of insecurity in our nation.

No society can move forward when the lives and properties of her innocent citizens is not guarantee. Insecurity is a great obstacle that hinder development in every societies. A nation that is facing unprecedented security challenges is a like a leaking ship in the middle of the ocean that has little or no chance of staying afloat.
The major root of insecurity in our society today is unemployment, hardship, corruption and poor economy policies that does not focus on creating opportunities for the people thereby leaving the people with the choice of surviving by all means, for instance, we have high rate of unemployment and security challenges in Nigeria because of the nature of our economy that have subject the people to engage in some illegal activities in other to survive. However, the emanation of cryptocurrency is a great antidote to insecurity in the country because of the potentials opportunities it has created in the country in terms of poverty eradication and financial independency. Cryptocurrency is now a full time sustainable career to a lot of people that might have been rolling round the street looking for a way of surviving.