Topic: One of the wrong statements about bitcoin again but from Nigerian EFCC Chairman - page 2. (Read 295 times)

Funny how they're talking about crypto being used by criminals because I am sure that they have criminal friends in the politics too. I mean there's no such thing as good politician, they're alll criminals, they're not just called that way because they have the suit and tie. Given how stupid this statement that the. EFCC Chairman has given, I don't think we're at the end of the tunnel to see if the ban will be lifted in Nigeria.

Your so right on this because, should they have taken to research, they would have come up with a more enticing crypto realisation and then know the best way to present it to the public but No! They won't do that, they would never put in resources and there time to what isn't a scheme that would earn them some money.

The crypto industry talks about discentralization and financial liberation for which they aren't willing to offer the masses and so, they won't let go. Promoting the same exact information they got from the media on the media and so the trend goes. A naira pegged e-naira might be something but, it would just be another way for politicians to loot funds and be more safe about it as, the bvn system in place tends to tie an individual to there worth and it isn't safe for a looter.

What do you expect from a country that care less about its citizens and try to suppress them especially the leader of the tomorrow which are the youth. The Nigerian government sees Bitcoin as a threat to their selfish ambition. They want the masses to remain in poverty so they can be easily controlled and anything that'll be posing as a threat to that goals of their will try to be eliminated and that's exactly what they're trying to do with bitcoin but they have failed so far.

Connect the dots, you think the banning of twitter in Nigeria has nothing to do with it's support for Bitcoin and Nigerian youths especially during the EndSARs movement some months back, they had this all planned out but the fact is the conspiracy they're trying to accomplish on 1st October won't work.

Firstly the citizens aren't that uninformed as they were few years back, I'm pretty sure we'll have very strong activist that'll opposed this initiative of theirs and enlightened the public on what the government secret plans are.

Corruption is the answer to that. Countries which are more controlling and didactic would definitely not support a free currency like Bitcoin. During the major protest of 2020 in Nigeria, the government freezed accounts of individuals involved in it, but when Bitcoin came into use, they were totally hapless and could not interfere with the transactions anymore, it's no surprise they would frustrate its use and try to swing public opinion too.

Consistent poor fiscal policies which only favour a few corrupt elites would lead to a constant devaluation such as this.

When anyone doesn't have proper solution and don't wanna adopt the best one, than they pretend to be done the best thing for all by spreading false statement. Same goes for EFCC Chairman as they wanna promote e-Naira instead of adoption bitcoin or other cryptos. Also, p2p transection's volume might increase after the launch of e-Naira and people would continue to use crypto instead of that ban. TBH, eventually more non-bitcoiners will understand the potential of crypto or bitcoin after that. Though it won't matter, but i just wonder if EFCC chairman will change his mind when retired from that position! 

Law makers are sometimes wrong in their view on things they have no control of, since they are yer to have control of this sector they will rather give false information to the public to scare people away from getting involved, government will always want to protect their interest, even though they will claim to be protecting the interest of it's citizens, good thing is, people are at liberty to do their own research and be informed about what is good or bad for them.

Developing countries are deliberately depreciating their currencies to make it easier to run their economic engines. I see how strong the weak currency is.
The issue of using money to serve terrorism is not new. The US dollar is what terrorists use the most. They are blaming Bitcoin mindlessly. That is preposterous.

I’ve been watching with interest the activities going on that Sub Saharan with so much potentials. Nigerian is a very interesting country because, despite the ban, the Nigerian fiat currency according to news sources is the most traded for BTC. With over $40 million in BTC volume moved in the past two periods of 30 days.  These are the data the government should look into to glean useful information to make policies that would help strengthen their dying economy and make it appealing for crypto investors to come in. Well, I am not surprised because for most government officials, what they don’t understand, they demonize.

The central bank of Nigeria (CBN) banned the use of cryptocurrencies in Nigeria this year on the 5th of February, later the CBN presendent says cryptocurrency's transactions are not legitimate, he meant Bitcoin and other crypto assets are used by criminals. The CBN want to try their best to make people to hold naira and set the pilot rollout for digital naira on the independent's day, Oct 1st, 2021. The CBN banned the decentralized cryptocurrencies like Bitcoin and have intention to mislead people to use digital niara which its price will be pegged with the Nigerian naira, the only difference between naira and e-naira is that e-naira will be more privacy depriving in design. Yet, Bitcoin transactions and other crypto transactions have been on the rise as Nigerians make use of P2P to bypass the CBN anti-crypto laws.

Physical criminals activities have increased in Nigeria, Boko Haram (one of the deadliest terrorists in the world) has been paid in naira by the Nigerian government before when Dapchi schoolgirls were kidnapped on 19 February 2018. So attracted bandits to kidnap kings and many other people in the country and demand for random which are all in naira. Kidnapping is now a business in Nigeria in which millions to billions of naira are lost to it annually, all the criminals are demanding for naira.

Nigerian is one of the poorest nation in the world if the country's wealth is divided by the average population of the same year. I was surprised the EFCC chairman, Abdulraheed Bawacould make this obvious wrong false statement about bitcoin and other cryptocurrencies just to be misleading the Nigerian citizens, he says Bitcoin, others pose danger to global economy which is obviously not true but totally wrong. In 2018, IMF report says crypto does not ‘pose risks’ to global finance.

Why would people holding public office would not just make appropriate research before taking anything to media, all to just mislead Nigerians for their upcoming e-naira next month while the value of naira has been depreciating right from its creation. €1 was equals to ₦2 when naira was created on 1 January 1973, but the value has been devaluing so far till this present time, now 1$ is equals to 410, €1 is now ₦567.50.