Topic: The harsh policies facing bitcoiners in Nigeria. (Read 124 times)

Our leaders don't see truth as it affects their way if life but target the poor masses and means if rationalizing their failure to avert blame , if you ask me before the removal of the fuel subsidy that has cripple the economy beyond it state of been has there no been existence of P2P now they have removed subsidy and embezzled the money and  luxurious spend if our national cake in buying expensive car and asset and some called liability that the see as accumulating of wealth and apportioned blame to P2P.

Our leaders is very good in destroying what they can't build that is why the economy is always going down if you ask me is there no way they can have agreement with this exchanges if there desire is for taxation from the so called exchange why are they so much kicking against crypto is it only in Nigeria crypto is practice , what they don't understand the mire you destroy structure that hold some elements you create more work load for instance Nigeria is faced with so much unemployment and crypto has absorbed some of this and which has cut down some crime rate eliminating of this platform will double the rate of crime in the nation.

Don't mind these people. Naira been don dey on steady downtrend since the government of Buhari took over as a matter of fact, na since power change from PDP to APC. It is clear that even for this 1 year in office wey Tinibu government don dey in power, things don take drastic turn for the worse and the just dey find where to place blame on. Money transacted in p2p no dey directly affect economy but them say na wetin dey make cost of living to go up. We're at all time high now and for a country wey dey at least import 95% of resources, it is as expected.

But they have not deal with the naira manipulation because exchanges are still manipulating the naira and apart from that the government it self is interested in the dollar rise because of what happened in the 2023 general election, many politicians are keeping their money in dollar and not in naira. And that is why the policies are not well implemented but the policies are good ones but lack good implementation.
As far as Tinubu na dey dis government things no go come down again because dollar no go come down in anytime soon and we go dey suffer dey go.

They are just using P2P as an excuse to hide their failure and this is not the only challenge Nigeria is going through but there are so many issues as everyone is struggling and instead of focussing on real life issues they choose to restrict access to an opportunity which Nigerians had to prosper as this truly shows that the nation is rules by dogs who are so selfish and wants to starve the population except their friends and relatives. Hope this misery ends soon.

Well, it was government policies to clear out the backlog of previous administration and the devaluation of the Naira twice, is in response to the policies by CBN and due to inflation affecting the countries economy.

Bitcoiners don't have to fear about these policies but should know that cryptocurrency isn't really a legal tender in the country until it has been granted rights by the SEC.
Also, Davido recently launched a coin, the $davido and it is growing with sponsorship from his governor Uncle Adeleke, therefore it should enlighten us that cryptocurrency is a thing and an idea that is already causing a financial revolution and is the future of currency globally and in this country.

Naira loss value no be today even before the existence of Bitcoin,so no be Bitcoin or foreign exchanges dey cause Naira devaluation.Naira go gain value when the leaders stop to embezzle public funds and increase the rate of employment.Nigeria government just dey fight fight wey no get head, imagine dem just dey fight against p2p exchanges,na dat one be the problem of Nigeria.Dem say na Dollar wey high nai make the price of goods high for Naija,now wey Dollar don come down a bit why the price of goods no decrease.Nigerian government no go fit delist Naira for all p2p exchanges because dem too dey trade their foreign exchanges for p2p platform,so even like that dem dey add to the devaluation of Naira.

this is not quite true.
As much as Bitcoin is a very good option to consider when we're talking about great investment option to consider for the long term that will give greater returns, there are lots of other good investment option that's still great and worth going into.

Understand that while you're even building your investment option in this digital sector, there is nothing wrong in also looking out for other means you can also invest into. All our surrounding have massive resources that you can leverage on as an investment option that will yield great increase in addition to your Bitcoin investments. Take for instance that you have some portion of land in your locality that's laying dormant and still unused. If you have the resource, it's going to make a lot of sense if you will be thoughtful enough to go into planting of stuffs like avagadro pears, plantain, coconut, or any other fruits that's good for you. By just putting in your resource to playing those fruits and expecting retunes in the future, you've invested for the long term and would definitely see returns in the future.

As much as you're investing into Bitcoin, don't close your eyes to the other opportunities that's looking at you glairingly. The policies of the government is getting more strict as the days goes by and although it's not possible at the moment from them to totally stop us from investing into Bitcoin, you've got to be matured enough to also look for other alternative investment options that will complement your Bitcoin investment.

The youths of Nigeria has been such determined kind of people that resists distractions of what could be benefitable to them especially when the financial source is a legal route. This has been why the tensions and propagandas of the government against bitcoin and other cryptocurrencies has never discouraged the citizens from taking the advantageous effect of Investing in the digital assets instead there're coming more of crypto adoptors due to the economy hardship.
Based on your question Op, bitcoin is not a default to the devaluing of naira and what's responsible for that's the governments inability to build better structures of stable economy system in the country.

The thing is the government is putting their inactiveness and ineffectiveness in handling the economy on Bitcoin, because Nigeria is not the only country on Bitcoin space, and most of the world's largest economies are actively involved in Bitcoin, but our government after wasting our resources and funds on expensive governance they then fall back to Bitcoin and blame it for everything, the ban on Binance was harsh even though Binance was somehow involved, you can't compare the difference between that and the fraud done to us through this corrupt government officials,  it's just so sad that one of Africa's largest economy has been turned to a thing of mockery before the international community.

I wonder how we expect a society wey one person for government go open eye thief billions of Naira and dollars for office, money way go fit emancipate and bring development to the community and nothing happened to am. He's walking as free as every other person. Money that could be used to develop our dieing industries  create employments. We get three refineries no one the work but everyday the government go the make promises of revamping till four years tenure go finish another government go come in with same promises. How the expect their economy to do fine and be competitive to bring value to the currency Naira. Imagine how many crypto exchange them don delist naira from their p2p still naira still the fall for value, only that no send them strong message say the problem na from within not outside.

Everybody for di country know say our government de always want to find something to hold hand for dem incompetent leadership, now na Binance and other exchanges wey people de do p2p transactions be Nigerian problem. What about as dem don pursue BDC operators, say na dem de cause dollar scarcity, how di thing take help naira value? Prices of goods de increase everyday for market, despite dem attention on crypto matters for di country, dat one clearly show say no be crypto and BDC operators be Nigerian problem.

Di awareness of crypto business for Nigeria, don alleviate poverty for the country to a large extent, many youths wey need where dem go invest and make money don enter crypto business, dem de trade and de buy projects to make profit, some de as marchants for exchanges de do p2p business, but government de put sand for dem garri. See as NOTCOIN, airdrop reward give plenty people money, now everybody de find di latest project wey dem go de tap to mine, our government suppose know say cryptocurrency na blessing to dis country.

To me I don't think Bitcoin is the reason for naira manipulation and if you ask yourself na only Naija dey use Bitcoin, abi na only Naija dey trade the answer na NO. The shege wey we dey see for our note or currency no be Bitcoin but our government. Morever, Bitcoin no be today e start to dey exist and i believe long ago Naija people been dey use Bitcoin and people been dey trade as well. That time wey $1 dollar been dey equivalent to 100 abi 150 naira no be human being been dey lead us and Bitcoin no dey that time, off cause na human being been dey lead and Bitcoin been dey also, so why this set of people no fit do same thing for the country. But make we no dey discourage Sha, make we just dey push dey go because time dey come when them go tire.

We Nigerians are blessed with lots of natural resources, Human capitals and others things that can bring about an economic growth to a country, maybe that's why we are nick named the  African giant,  but the giant in us is not giant enough to bring our people out of poverty.

Outside the natural resources Nigeria is also blessed with intelligent and hardworking youths , which have taken advantage of the technological influence of digital assets to invest and make profits out of it,  even when our government is busy making rules and regulations against these crypto assets , 

Today many youth that seeks financial freedom fall back to investing in Bitcoin, because to me it is the only investment that if you Hodl for a long time can actually lift you from poverty,

According to the research I did, Naira manipulation is the reason behind these harsh policies directed against digital assets such as Bitcoin,  but the question we are to ask ourselves is that, is Bitcoin really the reason for naira manipulation?
We all know how our government spend alot of money on governance and also how some selfish public office holders embezzle public funds without being prosecuted.

My question is what devalues or manipulates the naira ?
Is it investing in Bitcoin or Embezzle of public funds for selfish purposes.

Bitcoin has helped in minimising crime rate in the country because most youths have fully taken advantage in investing in Bitcoin and have gained financial freedom thereby no longer on the street looking for crimes to commit, so I see the government making all this policies as been an enemy to the development of the Nigerian youths on this crypto space,