Topic: Just Thinking out Loud: How Strong Do You Believe In Blockchain and crypto - page 2. (Read 413 times)

Cryptocurrency and Blockchain technology goes beyond the shores of Nigeria, and they are international businesses so no country has a monopoly of them or can stop them, they can only restrict them in their countries. The Nigerian government can not overlook the importance and advantages that cryptocurrency and Blockchain technology has brought into this country, how it has engaged Nigerians especially the youths in providing self employments that is reducing the unemployment rate in the country. I don't think that our government will go as far as banning cryptocurrency in this country, because of the great impact that it is having in the country. Nigerians are among the fastest people that are adopting cryptocurrency and our government is aware of this fact so it will be an act of irresponsibility for them to tamper what is benefiting their citizens, rather they can regulate the sector as they are planning to do.

The administration no go last forever, dem go do their own finish and go. I believe the other adminstration go different from this one so all hopes aren't lost. The country gets very vibrant youths and no matter wetin the government dey do e no go kill our spirits. People wey dey the space dun see how crypto dun benefit the youth more positively than in a bad way so we no go stop just because the governments no like am. Things can always turn around so make we no lose faith and continue to dey believe because na Bitcoin or nothing. Blockchain technology has come to stay, Nigerian as citizen always find way to survive so make we just dey hope for the best.

I still feel the government will make a U turn later when they discover it wasn't crypto that was the main cause affecting the dollar because me still believe say dollar go still rise back. E dey stabilized around 1,500 +/- but soon we go see the price rise to close to 2k Naira unless the government do something serious about the economy of the country. Dem no go just implement policies without backing and expect the thing to hold on forever. Crypto sha was contributing but it wasn't necessary the reason the dollar was getting too expensive.

Yes, people will still survive if in the future crypto is been banned, but however, I don't think this is going to happen anytime soon, because it's obvious what our government are fighting for is a share of the revenue been generating by this exchanges from Nigeria, of which recently, there is a current partnership with Nigerian government and Crypto exchanges, whereby a certain percentage generated from transactions fees will be apportion to the Federal government.

Bitcoin is here is to stay and I don't know how others believe  or see the whole scenario but what I know is that, bitcoin is here to stay.
As a true believer, there is no need for doubt or panic but rather see greater opportunities in a dip to buy and accumulate more of bitcoin, I understand that it seems that the government is fighting cryptocurrency in the country,  but the truth is that, they also want to have their own fair bite of the process and since bitcoin and cryptocurrency in general, has the ability to appreciate, then taxing it isn't a bad idea but the taxes aren't used for it'd right purposes which is the problem and nit outright the taxing on it.

I get your point bro but I wan correct one impression say no ne about diversifying income but na to put am for the right thing as well na e also matter and your talk be like that of person wey no get full believe in bitcoin because a person like me, already believe day even if bitcoin go I no sure say na when I still dey try to figure them out but rather when I fit count my blessings through it (I believe you already know wetin I mean.)

Bitcoin don come to stay, and bitcoin don already already prove this fact more than three times because at everything, e drop, people dey always expect am to come back stronger and better and e never fail.

Whatever the case might be, I'm not actually into the technicalities of bitcoin but I no see bitcoin going anytime soon but I believe we go get something better if bitcoin goes

Omo make you no discourage yourself oo about crypto matter for naija or any other place for the world self. In fact if you want to learn anything concerning crypto or blockchain make you better put your body and soul inside am oo and learn am well well. You don already talk am say na technology the world dey head to so nothing fit stop that frequency and wave now. Government no fit stop am because people go still use VPN access wetin dem want access, na only restrictions dem fit do and na how long dem fit hold on to that self. The mining stuff wey dey go on self wey dey make telegram dey relevant now self go tell you say more people don jump in. Even naija government don dey reconsider how dem dey run follow exchange owners and agents because dem don see say dem no fit stop am like dem dey feel say na that one dey cause Naira to fall. Dem self don see say no ojoro for there.

They can't ban cryptocurrency they can only restrict it. It is difficult to comprehend the approach the government can take on cryptocurrency. However, a complete ban is unlikely but regulations on cryptocurrency can be expected. It has happened and gone cool, it and still happen again and that is why we need to watch out for it. The reasons for the regulations are more likely to be based on money laundering, tax evasion, financial stability and anything other than this is a personal reason which means a strategy for money embezzlement. However, if embezzlement is the plan, then they will tag it under any of those concerns mentioned.

With the lack of trusts on the government and how unpredictable the future dey for the cryptocurrency, e supposed give us more reason why we need to diversify our source of earning and how we go utilize the current opportunity we acquired now and before before because tomorrow no too sure but only when you set out paths well we fit relax without panic when things go astray on the crytop industry.
We need to understand say people way no dey do crypto still dey survive so no be say our own destiny dey tied for the crypto if we must live good life. Na just say Crypto na one of the sources to fit help us make the better life.

Why is the government so obsessed with banning the cryptocurrencies. Are they doing this because they are ignorant of the benefits which come with the new decentralized currency, or because of its anonymity in nature yet transparency in transactions or because it is likely to move people's attention away from the centralized system controlled by the government?

Bitcoin and crypto in general is not a Nigerian brainchild, Nigeria is just one of the adoptors globally and while we might have witnessed a little show of restrictions in Nigeria, other countries and big firms are still adopting and investing far more than what we are holding. Even if we witness a total clampdown on all the exchange that are operational in Nigeria which in the real sense is an impossible scenario, it wouldn't mean that Bitcoin will go extinct due to such event. Exchange is only a big deal because of individuals that actively carry out daily or regular trading of thier Bitcoin and would need those exchange to carry out those kind of transactions. For those that are long term holders and that aren't storing thier Bitcoin in an exchange, I doubt it makes any big deal whatever regulation the government is putting up with in Thier plan to clamp down some exchange.

In addition to this, note that the digital sector has gone to broad to the extent that a single action from the government can't totally eliminate people from making use of such a sector. At the time when the naira was delisted from Binance and some major exchanges, how long did it take before an alternative option sprang up? Even outside of crypto, most of our youth are still into forex trading, UI/UX design, content creation, and a whole lot of digital activity that's fetching them some Cash. If regulations get too tough on a sector, it might just take some time for things to calm down and then go back to normal but it's gone past that stage when a single government regular can cause an overwhelming threat to the existence of crypto globally.

No allow what d government is doing to stop people not to have access to crypto exchange, make u feel dey can succeed at d end because crypto don go round d world to over power d government for stopping their people not to make use of crypto exchange in d country.

Despite what government did recently to stop binance exchange in d country, it make many people to discovered many exchange were dey can buy and sell crypto in d country and is making people to show more  interest in crypto in d country, because naija people no how favourable d crypto business is to those that invest their money in crypto. Government has banned BTC and crypto in d country, but it will be difficult for them to banned all d exchange platform in d country because it will increase d hardship in d country, and that is were some politicians, students, civil servants and non  civil servants use to earn what is putting food on their table today which dey will not allow d government to ban all d exchange platform in d country.

The truth is we don't know the future, we don't know if the government well totally ban crypto currency or not but I know that crypto currency is not owned by any government and crypto currency (Bitcoin ) is anonymous but it's transactions are transparent. Government can't ban it totally, just in Nigeria we know how hard government have been manipulating crypto currency users (Bitcoiners) but still we are doing Bitcoin, investing, trading and some people are using it to gamble. No body can tell what will happen in future but we know that government can only manipulate Bitcoiner but can't short down Bitcoin because it's uncontrollable, the price keeps fluctuating and this is what makes the government more scared about crypto currency.

I believe in bitcoin because it's a decentralized currency and I'm in a self custodian of my funds so, there's no fear in me as long my transactions are executed in this very bitcoin blockchain, I believe my assets are secured.
The governments has been throwing trashes in the technology probably with the intense that enthusiasts may have doubts on it and then back off from adopting it but yet, there're being more adoptors embracing the technology of Crypto currencies.
Before the day bitcoin was developed, we've been surviving and if paraventurely it gets ban in our country, we'd still alternate our survival because we've been thought tough ful lessons while in this same country so then, we are always born survival and if you think having bitcoin or other cryptocurrencies for an assets for you either you're trading, mining or investing and it's profiting you so well, you can also decide to migrate out of the country but if the difficulty is about exchange, we can always overcome it by transacting on the non custodial networks or you can have a third party you can transact your crypto assets with and then then person can trade either in other currency for you and forward back to you then you can only exchange the foreign currency as fiat to naira.
There's always away to stay unworried about how the governments are trying to suffocate crypto adoptors in the country despites it's profitable potentials that the government is ought to encourage the masses more on its adoption.

We have seen how and where the governments are heading with how they are treating cryptocurrency exchanges. If this industry could make a living for the youths and our leaders a clamping down on it for whatever reasons they may have and we can see that it where technology is heading, what do you think will become of it in the future, won't they ban it totally? And people who are moderators and crypto ambassadors, tech guys developers, how will they survive, can people coming behind still make crypto a career.