THERE ARE MORE SIDES TO THE STORY TO THE GOVERNMENT AND BITCOIN/CRYPTOCURRENCIES
It is ironic how people with power see the world and demonstrates the authority given to them. Gone are the days when I hear power are given only to those who be little themselves as at now, it’s either appointed or seized as related to politics. Today, the people often cry out of every policy formed because of how one sided the issue is been looked out. It’s always considered subjectively rather than objectively. For this reasons, I say this “There are more sides to the story than it’s been considered”.
Of recent, it’s been Indian and now, the Nigerian government that seems to have taken the forefront of the fight against bitcoin and cryptocurrencies. Its sad how well they observe and how little they see. While in high school, I was thought how the government comprises of three basic arms for which, policies and regulations are formed, amended, regulated and enforced with all arms working hand-in-hand to ensure stability amongst others and also, the fundamental human rights and how the rights of an individual is absolute so long as it doesn’t affect or restrict the activities of someone else and this includes investments. There is a biblical saying that goes ‘’when you give/good, do it in such a way that the right hand won’t know”. You can imagine the same body doing a thing and yet the other hand isn’t aware of it, Nigeria has extended this saying to doing evil. Evil in such a that, a part of government through its leader can confer on itself absolute authority to take decisions that could affect the country on a national base and possibly lead to a revolution for which second class citizens which comprises the most population of the country would be the most people affected.
It’s been a moment of uplifting for Nigeria in the late months of the pandemic during its first phase and thereafter, where its citizens searched for other means of investments and maximizing ROI. They(we) were met with a bullrun which helped to promote and propel the Bitcoin and cryptocurrency awareness and investment with individuals growing crypto smart with Nigeria as an African nation being listed as one of the top investors in cryptos and now, the government has chosen to not regulate but place a hold on progress of its citizens. How do they do this, by pretending not to see the other side to the story. The sides to the story;
THE SIDE THEY SEE AND FOCUS
* SCAM ORIENTED: In my trying to understand humans as to why they behave in certain ways, I got to understand that everything is subject to critic and we often choose not to accept the truth before our eyes if it doesn’t benefit us directly and as such, it makes less meaning. It could only be deduced or believed that, they aren’t crypto investors or has a side to it that won’t be available to the second class citizens but then being irritated by the rough looks of a sponge and forgetting the fact that, it makes a good scrub isn’t the way to go. Cryptocurrency can do more than being used for scams so, why use scam as a major base. After all, it’s always advocated that investors in cryptocurrency in the country and around the world must exercise caution.
http://sec.gov.ng/public-notice-on-investments-in-cryptocurrencies-and-other-virtual-or-digital-currencies/http://sec.gov.ng/public-notice-on-investments-in-cryptocurrencies-and-other-virtual-or-digital-currencies/IF the level of caution in the above links doesn’t ring a bell then I wonder what will and I guess similar policies are avail to citizens of other nations as well then, why not go smart on your investments.
So, why would a government be reckless in policy formulation because of some uninvestigated investments of some world’s citizen and as such, limit the rights to utilization of what is avail to easy life?
* REVOLUTIONARY: Its only normal for a better way of getting things done replace the old. Why get so scared of virtual currency especially when it offers a liberty to the government and I don’t mean just Nigeria but nations of the world in this regard. All they tend to see is what it takes from the government and are completely blind on what it offers. Having eyes so big and yet sees nothing! The world has been so consigned with fighting, so focused on the war that they don’t seem to realize when to stop and see to utilizing what it offers and the much attention that could be drawn from the government. All they see is how much control they would lose, if the people are empowered.
THE SIDE THEY PRETEND NOT TO SEE
* IT’S A BEST WAY TO TRANSACT: Speed is good but accuracy is better. This is what Bitcoin has got checked; they know this but yet undermine its importance. Of what best way would it be to uniting the world as a global market than cryptocurrency. It meets the requirements of universality as it isn’t tied to a single nation and its value doesn’t depreciate across borders, its relatively constant everywhere and could serve if approved. That someone could get to someone or something done at the other end of the globe to meet up with emergencies with little procedure sounds like an advantage to me.
* IT DIVERTS ATTENTION FROM THE GOVERNMENT: Many nations of the world today especially the populous nations and the third world countries has unemployment problems and this is a major problem to the growth of an economy as, unemployment is reflected in production which in turn affects the standard of living in nations facing this problem. Its often a view point of many college and high school students to graduate and secure a paid job with the government coupled with their limited resources. Cryptocurrencies has got this too in check as it empowers but youth and adult investors alike and in turn, turn diverts there attentions from the government hence, more wealth is brought in to invest in other field of business which could be taxed thereby, increasing productivity, creating more jobs and aids economic growth but, it’s a chance government has refused to see or take.
There a lot to be said on this note but, I’ll limit it to that and to your contributions for a good read.
COUNTRIES WHERE CRYPTOCURRENCY IS OUTLAWED
Algeria, Bolivia, Morocco, Nepal, Pakistan, and VietnamCOUNTRIES THAT ALLOW MINIMAL PARTICIPACTION
Bangladesh, Iran, Thailand, Lithuania, Lesotho, China, and ColombiaTHE CONSPIRACY
It’s old and unethical but, it sometimes works. It’s a simple strategy to them, “control the food/resources and in turn you control the people" and they do all this under the cover of the law. A big fowl play!
This is why they tend to focus on one side of the story to as to deny the bitcoin revolution on old ways of doing things. It’s been the barter system, the cowries, manila, gold, fiat for Africa at most and now, it’s time for bitcoin. But then, its progress because Bitcoin isn’t completely erasing the fiat out of the picture just as fiat didn’t completely erased gold. So they accuse bitcoin to be used for scamming as though, scam started with it or is only untraceable when done with cryptos. If that be the case(the scamming conspiracy), why not government of nations teach it to its citizens and not only rely on declarations. Instead, what we see is a display of power given to them by the people and they stay immune under the cover of the rule of law and display their tyranny towards the people without consultation. In India, its prison, In Nigeria its blocking of bank accounts with crypto history either prior or present. How sensible is that? Its still a work in progress as several senators and crypto investors aren’t in unity on the matter. We hope for the best resolution but then, "
Ban isn’t Regulation”.
Long live Bitcoin and Cryptocurrencies.