Topic: Nor Be Just to Know Bitcoin, Na Who Teach You and Wetin Dem Tell You (Read 297 times)

Not just only in bitcoin  but also in fiat, when money is gotten in an illegal way you would want to spend it anyhow. I think in the case of this people maybe they thought receiving bitcoin will bring them more money to them . Some people just get to know about Bitcoin but fail to try to get more knowledge of bitcoin on their own. Even if we learn bitcoin from people who are not well knowledgeable it doesn't mean we shouldn't try to make research to know more or get more details. As human we don't need to rely on what people feeds us with but we should be able to get a better understanding from our own findings.

You know waiting dey surprised me with this our youths be say, those ones wey no dey earn BTC in a legal way na them they shout for social media say them be BTC lord, I get some of them for my contacts list, you no go see them with any legit hustle, but na them dey disturb social media for us, even person wey never hold BTC for him wallet before go dey whine us. And waiting dey pain me pass be say, dey can never for once reason am say what if they get arrested, how them go take explain about their sources of income? If person ask me say did I know anything about Bitcoin, my answer is always no because if they involve their self involved in illegal things, make them no come hold me say na me dey give people wrong information about Bitcoin.

According to the information wey Op gave so, those boys really get mind, kidnapped himself and asked his dad for 5 million in BTC? Una reason am say person wey teach those boys about Bitcoin no go enter trouble? Because me I believe say those boys will not just sit one day that they learn about bitcoin by themselves, they must get the information from someone. Our government don get another evidence to fight against crypto.

E Dey pin me when I see things like this, because na people like dis Dey spoil d reputation of bitcoin, sometimes you go see people wey Dey into yahoo Dey talk say na bitcoin dem Dey into, things like that just Dey fucking annoying. The father wey pay 5 million in bitcoin no fit every believe say dem fit use bitcoin for any better thing again, him go Dey reason say na only illegal things dem fit use bitcoin for, and people like this will never believe in bitcoin again.

Seriously dem suppose punish the criminals wey do that thing, how you go kidnap yourself come Dey request for ransom, e no really make any sense to me now, and even d money wey dem collect na rubbish dem go use am do, na waste dem go still waste am, and they don put tension for there father body, and Dey don spoil bitcoin reputation again.

People wey fit kidnap themselves and they request for bitcoin as payment, then dem sabi Wetin bitcoin Dey about, they know say no be get rich quick scheme e be, na just criminal dem be. Na just newbies wey never even enter crypto space fit Dey reason say bitcoin na get rich quick scheme.

Many criminal have attempted to use bitcoin for illegal activities but their attempts have been hindered by traceable transactions.  The fact that some  decentralised may not require ID verification it has got some criminals minded assuming they can execute their illegal activities through bitcoin transactions but it has always failed them because bitcoin transactions can be traceable because physical cash is till dominant in Nigeria, making it difficult to remain completely digital and untraceable.  

Unfortunately, some Nigerians have been misled about Bitcoin and are using it for illegal activities, like the kidnapping scam. It's essential to adopt acquire and transact bitcoin legitimately especially for country facing obstacles from government in regards to bitcoin. Let's focus on promoting responsible and legal ways of engaging with Bitcoin, so that those thinking of investing in it won't see it as something illegal. By spreading the right information on the legitimate uses of bitcoin, we can help change the perception and encourage responsible investment practices. Bitcoin can be a valuable asset when used correctly and legally.

The thing is that when you have the wrong thought about Bitcoin it's probably going to end you in a place you would expect besides it's not something that guarantees massive wealth overnight. This case I see here all have the two parties thinking wrong both the police officer and the boys themselves, the reason why I point to the police is because they feel that the boys actually made this plan out of the knowledge that they think Bitcoin is a currency that is meant for just fraudulent stuffs and that's where the image of Bitcoin get spoilt because this same crime can be committed even with the country local currency and people do it all the time but since it's Bitcoin the picture just get worse.

Yes bitcoin is not a get rich quick scheme but a long time investment with potentials that may make a person rich in there nearest future.

One thing for sure is that anything illegal usualy put a man into a mess. Human being is just human being I don't believe that given someone orientation or advice on how to use bitcoin will solve the problem of fraud though it is good to teach a person who is new to bitcoin investment how bitcoin works and the usage but that doesn't mean the person will stick to your advice, because each person has a motive before joining anything, be it bitcoin investment or any other thing. Either negative or positive mindset. If the person come with a genuine intention, he will do it positively and take advantage of it, not the other way round. Whoever is good is good regardless of anything. It is only the bad once that only think about the negative use of bitcoin by defrauding people, Which we can not deny the fact that bitcoin has an advantage and also a disadvantage. Advantage in the sense that it is a great store of value, disadvantage as a form of using it for fraudulent activities like scaming people. If everyone mitigate the use of bitcoin properly there will be no wrong impression about bitcoin.

Obviously, the guys are truly armed robbery and they have been practicing it secretly even before now so they decided to bring it on openly and God so kind that they guys were caught by the help of the police men. These are the reasons why I don't agree with people that only blame government's about the situation of our country because we too as citizens are not helping matters, these guys forget the situation of the country and went ahead to practice arm robbery, that's not good because it's not adding any meaningful impacts in their life's and others close to them (people like their families). Weeks ago, I saw a thread at the economy board or beginner and help board (I couldn't find the topic though)and this topic speaks about how parents are investing on their children to make sure that they attend the best schools in the world (from the little they can afford) because they believed that those children are their investments in future. If they become successful their suffering won't be in vain and most parents went extras miles to make sure that they try their best. So, this comments made me remembered that topic that's why I have to bring it here. However, it's obvious that most people who's parents parents did their best to afford the necessary things that they can get for people like this guys have waste their time and efforts if the armed robbers are from a family that always want the best for their children because what they did was a terrible act and it has destroyed there trust in the society they lived in. To conclude everything, the knowledge one need to know about is very important, how to buy and how to secure seed phrase.

I came across this and I was not happy that young people can conspire to do this. They decided within themselves to use bitcoin for an illegal purpose which to me is proof that they were first exposed to bitcoins by someone who   is illegally minded, and this has affected their views on it.

How you have obtained the bitcoins you have will determine the value you will place on them.

True, no be to know about Bitcoin na e matter but how we carry know about am, how we take learn about am and from which source we get the information from na be wetin really matter because na wetin we learn na go determine if we really get the information or idea from better source and from the information we go apply for any problem wey we encounter or face and most people think to get the idea of Bitcoin say the person go start to make money easily, them no dey know say anything wey get advantage dey also get disadvantage, nothing for this world dey good finish.

So make we dey try to get right information so that we no go implicate ourselves for wetin we know.

These boys na thief obviously because e no get how them wan start that work just one day without them practicing it. My idea be say them think say police no fit catch them or wetin because I no really understand. Just like wetin you talk a better knowledge about bitcoin sure wella and I try understand say the next guy no even sabi bitcoin like that and na bitcoin them come see to take run their dirty game. After watching the video I come read one comment about the father in question, for them to ask bitcoin them don know say the guy fit dey invest or trade in any form but definitely the guy get bitcoin so all this still dey come to keeping your bitcoin holding privately make nobody know, even pikin fit stab papa for back wetin be friends I believe say if na friend na express way just as we dey see different stealing  case online about bitcoin. They’re other ways we fit acquire bitcoin for this society make we no allow quick money mindset or bad friends wey eye open reach ground influence our thought about bitcoin. Talking about comment section I never read go down because after watching videos like this e good make we read the mind of others but personally I believe say most people go still mention bitcoin when bitcoin no be the problem, them fit use fiat run this one sef nothing serious just that the boys in question think say bitcoin dey more private and na the mistake them make.

Well these are the events that actually get the forces and government or even the general public as whole to think that Bitcoin is something that is bad and is used for only illegal purposes, but I can the whole picture well, I think these kinds of things is very common and self kidnap is something that people do even with a different medium at that @fiat and not just it's Bitcoin or maybe they felt because of the decentralization of Bitcoin they would have gotten away with the crime, well a crime is crime and there is nothing that justify that although what I can is say what they did by receiving the money in Bitcoin has been done also countless times with the dollar, naira, cedi and so many other fiat so the major thing is that something good can and is always used by different sets of people for different purposes.

Actually these present age wey we dey so nah age when many many things dey really happen. Although this kind of thing no be new something sha, and although I never hear of BTC ransom before but all of them nah the same.
However, from the story below, I see am say the criminals them no really know the actual figures be 50,000,000 in BTC nai make them receive am without any other questions or random again. But thank God say the did was done and the police officers catch the kidnapers. Although the kidnapped case nah formality (pikin and friends from the kidnap stories just to request for money from the rich guy parent's). Normally e dey good to train our child/children in a good ways and God fearing ways so that them no go end up as a criminals in future. From this story below show say the boy and em friends if care is not taken tomorrow then go end up for street as criminals.

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Normally nah true talk be this.
Anyone wey wake up think say Bitcoin investment nah something wey go make them rich in a Twinkle of an eye, nai be say them fine make big mistakes because Bitcoin investment no be like that. As a person wey won invest for Bitcoin you suppose k ow say Bitcoin investment takes time and you also need to plan well before you continue or before you start so that you no go make mistakes in future.
Some pipo done see am say many BTC wallets no need any KYC to verify nai make them done reason to use am request for ransom from their victims. But my own be say make person just dey careful these days. Nothing dey satisfying say you get BTC from legit sources. When you dey get your profits from legit sources you no go get any fear at all say one day problem go come up because you dey do your things in a legit ways.

If you're thinking of a means of getting rich quick, then bitcoin may not be the suggestion for you because so many have being out there found in this category and after their discovery of one or two ponzi scheme, they were no where to be found now by the virtue of the scam involved in what they later got into, we must be ready to learn, wait and also know whatever procedural steps in bitcoin before investing and we should not appear being greedy for nothing because we may lose it while trying to get it, if we are hasty about making it with our investment.



If many of us were rich today by the way of how much we have invested in bitcoin, then we can say that its only the rich ones that are enjoying the use of bitcoin for an investment, but things aren't like this in most cases, everyone needs to go through the right and accurate path of acquiring bitcoin, because by this, we will know how we can value the asset, invest with caution and also secure the investment, we will try all means by not making it vulnerable to scammers to attack and steal away our asset.

There are some people that no BTC but dey don't no d meaning of BTC, which is d major problem of some young guys in our country today, and dey will not tell d people d truth that dey are into kidnappers or fraudster which is d source of their income, but dey will be telling people around them that BTC is d source of their income.

Some group of guys calling themselves bitcoiners in my area was caught by d police officers few weeks ago, and d police officers began to ask them some questions about BTC and dey were giving d police officers wrong answers which d police officers no decentralized currency very well.

It was a surprised information wen all those police officers tak all those guys to their various houses, and d police officers discovered that those guys are kidnappers  base on wat dey found in their rooms are full with guys and different dangerous weapons, phones and laptops.

Na why I like Bitcoin, bitcoin no be currency wey dey hide financial crimes like money laundering.Anybody wey wan commit financial crime with Bitcoin na big fuck up because the Blockchain network dey transparent and traceable,I don dey come across many thread wey dem catch people wey dey use Bitcoin in an illegal way.
Na all this kind news dey make people talk say Bitcoin na currency wey dem dey use commit illicit activities,for the fact say dem dey catch people wey dey earn or use the currency in an illegal mean say Bitcoin na legit.One thing about this life be say wetin you no know big pass you,na people wey dey ignorant and no dey willing to learn how Bitcoin dey work nai mostly use am launder funds and other illicit activities.

This kinds of stories na im de give people bad impression about Bitcoin, dem go de reason say di decentralized digital cash na for money laundering, meanwhile dem go forget say most criminal activities na through fiat currencies dem de occur. I de glad say our police do dem work well by apprehending di ungrateful boys, atleast people go understand say di purpose of Bitcoin for di crime na just a means of payment, no be say Bitcoin itself na criminal cryptocurrency.

I know say di negative perception wey many people get about Bitcoin wen e first come out don change because di awareness and adoption de increase everyday for di country. No matter wetin person wey introduce you to Bitcoin tell you, you suppose DYOR because na money matter

Actually due to the fact that some decentralized exchange may not require I.D verification, it has got some criminal minded people to assume the decentralized process to execute their illegal activities through bitcoin transactions but it has always failed them as bitcoin transactions can be traceable.
The aspirations usually come with the thought that bitcoin is a digital currency and its holders always remains unknown if being concious enough to remain secret without even thinking about the p2p of exchange the digital asset to fiat before they make use of it because with the level of bitcoin adoptors in Nigeria, you can't pay for every single goods you purchase so, the need of physical cash still remains dominance that's to say they wouldn't stay digitalized on the untraceable as thought.
My message to every young Nigerians is that; Adopt, acquire and transact with your bitcoin legitimately and have peace of mind with great profit outcomes instead of engaging on the illegal activities of troubling your peace and safety.

You know the saying that goes when the purpose of a thing is not known, abuse becomes inevitable, This is the case of those two boys. They had natural criminal tendencies and only looked for a medium to aid them in carrying out this act and decided to make use of Bitcoin.

Big thumbs up to the police for their ability to apprehend this culprit.

Going back to the case and relating it to who they learned how to use Bitcoin from and what the person told them about Bitcoin use, I Believe from the story, that the older guy who initiated the idea of carrying out the fake kidnap was already into frauding people through Bitcoin and we can just assume that he learned how to use Bitcoin for the bad purpose.

It's just the same with those using guns to do kidnapping and arm rubbery, should the guns be banned because they get into the wrong hands? And it's also what applies to those learning hacking and refusing to use it ethically but rather use it to get access into people's privacy and end up stealing from them in the process, should the blame be pushed to hacking in general or guns for the context of kidnapping? These are all abuses of knowledge and they happen in literally all sectors of life.

Before Bitcoin came on board, we've seen a series of cases like this where people actively engage in both fake or real kidnap and get ransom paid to them through whatever means they feel comfortable with and some get lucky to go away with the crime while others get caught like these boys. The summary of this issue is that this is an action that's taken by a fraudulent mind. It's not always about the medium he chooses to use but more about his personality. Remove Bitcoin out of the equation and those boys will still effect the kidnap and they might even end up not being caught.

Another great job well done by the Nigerian police, not always about negative news about them shaa. For those boys to cook this sort of plan and demand their ransom in bitcoin nah be say the boy papa nah person wey go don get knowledge about bitcoin or them know say the man dey on crypto so sending them the ransom through bitcoin will make the money untraceable where it's going.

People they carry out bad  and other criminal activities using fiat and nobody don comdem fiat say nah bad currency or say it dey promote crime so I wonder why it dey sound shocking when this same criminally minded people come use bitcoin it come be like say na bitcoin be the problem. People go wan to use something good even in the wrong way . Na only ignorant people wey no sabi bitcoin go dey tink anyhow.

As it stands now, even owning Bitcoin as a youth puts you at risk especially when you are around security agencies wey dey wear black and black. To be honest, owing Bitcoin of your own as a hardworking person makes you even enjoy it better. I can't really tell the same from the angle of those who got theirs illegally.

Bitcoin is never a get rich quick scheme. It requires your own funds, it's basic knowledge, and also patience to make reasonable profit from it.  As most Nigerians would say "Na moni dem take dey find moni". No matter the approach we choose to use in getting Bitcoin, we must spend money as well for it.