They have been using the fiat system and the larger money you still in Nigeria the higher the chances of you getting away with it, I think you are putting your question in a way that says Bitcoin would enhance the government looting and embezzling active when this actives has been going on for a very long time now
Further more they may have already adopted the means of using Bitcoin and what ever purpose you use Bitcoin for should not mean Bitcoin serves a negative purpose nor should be blamed solely.
Topic: misuse of Bitcoin by the Nigerian politicians - page 2. (Read 246 times)
what if they actually adopt to using Bitcoin or cryptocurrency as a new means of stealing and hiding money. do you think that they would be caught in this act due to the decentralized system of Bitcoin?
( this is just a taught)
Unlike our traditional means of banking where government has control over the banking sector and could know how much it citizen has in their local & domiciliary bank account just within a twinkle of an eye if a politician happens to steal funds and hides them in Bitcoin, I bet you it is very hard for them recover such fund, but only if he do not leave such huge funds on an exchange wallet or buy such using a centralized exchange where Kyc is needed such as Binance or Coinbase. ( this is just a taught)
But if they could buy it while using a decentralized exchange like "Bisq" and store the funds in a hardware wallet, I bet you nobody can discover they have such an amount in Bitcoin.
As we know in Nigeria our country the governments are fond of looting public funds into various personal accounts.and it's no longer a new thing that some government officials are busted sometimes of which millions or billions of naira are found in secrets places in their homes and then they create lies about how they use the recoverd funds to solve problems in the country.
what if they actually adopt to using Bitcoin or cryptocurrency as a new means of stealing and hiding money. do you think that they would be caught in this act due to the decentralized system of Bitcoin?
( this is just a taught)
what if they actually adopt to using Bitcoin or cryptocurrency as a new means of stealing and hiding money. do you think that they would be caught in this act due to the decentralized system of Bitcoin?
( this is just a taught)
Politicians in Nigeria are smart for the wrong reasons so I have no doubt they can use Bitcoin as a means of consuming our national cake. From what I have read about Bitcoin, it is truly a good opportunity for them.
As we know in Nigeria our country the governments are fond of looting public funds into various personal accounts.and it's no longer a new thing that some government officials are busted sometimes of which millions or billions of naira are found in secrets places in their homes and then they create lies about how they use the recoverd funds to solve problems in the country.
what if they actually adopt to using Bitcoin or cryptocurrency as a new means of stealing and hiding money. do you think that they would be caught in this act due to the decentralized system of Bitcoin?
( this is just a taught)
(Edited) title as suggested by Charles-Tim
what if they actually adopt to using Bitcoin or cryptocurrency as a new means of stealing and hiding money. do you think that they would be caught in this act due to the decentralized system of Bitcoin?
( this is just a taught)
(Edited) title as suggested by Charles-Tim
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