Topic: Undergoing of wider Crypto adoptors in our society. (Read 149 times)

I think you are kind of mixing things up, because from your statement you are trying to say shitcoins came before Bitcoin, of which initially, it is the reverse that seems to be the case. Or are you referring to Ponzi schemes? Because that was what was very popular back then in 2014 to 2017, of which we still can't say it came before Bitcoin, because Bitcoin was invented in 2009, but became very popular in this part of the world around 2017 during the launch of Ethereum, of which Fortran, a popular smart contract back then was built on, enabling people to earn Ethereum by referring people to invest.


Kids this days are smart, but needs the right decision, and just as this lady has shown her interest in Crypto, I the best thing I could say is advice you to lead her through the right track.

I think you speak volume in my mind because wrong beginning create room of many condemnation which many tag crypto as scam because of how they begin with fake project of tapping some shiltcoin or meme coin with value on telegram bot and spend all time and energy even some invest by buying the coin during presale at the end experience losses that make them feel BTC is scam, op just as mayor has said you need advice her very well because knowledge is power many work on ignorance and  lack no direction by engaging on certain things that don't profit and begin to compare it with BTC after failing on the engagement.

Quite believing agreeing with you, let's also be aware that the authority of Nigerian government over cryptocurrencies is limited just as said, they're only powerful to the crypto factors in relatives with the centralized exchange of facilitating the naira transactions. Behold, they can't bring cryptocurrencies down by their powers because alternatively individuals can hold their crypto assets on the non-custodial networks and even on the decentralized exchanges that KYCs may not be supported which the government can't off track.

Any day anytime cryptocurrency will stand. The Nigerian government has not authority over what will be the future of cryptocurrency in Nigeria. Of course, they would try to bring any platform supporting the progress down which they have tried in recent times, yet those platforms are still prospering. Apart from affecting the business of the digital banks in Nigerian, the government still understand that they are benefitting from those banks and that is the main reason they would only give restrictions to some certain extend and not shut down the business. At last, with time everything will settle down and the exchanges would be back.

Very correct. And the developers must be strategical enough so as to prevent the downfall of the project. There are so many projects that had the potentials of doing well, but due to the influence of the investor leading to the distribution of a larger volume to them, which could crash the project as everyone would be trying to make profits. But in all sense, there must be a balancing in the demands and supply, so as to keep the project alive.

We've seen the recent hype from the angle of altcoin recently. I think the project got good traffic and massive engagement which lead to so many making profits from it during listing. And there is another one on going, which has also gained the attractions of so many people have seen.

The downfall of any cryptocurrency project, the developers are to be blamed because they are the first set to develop project (verb) the project (noun) to the people in the society and when we come to the investors then the demand and supply. If the supply is not conducive enough for the demand then the project will not grow so the developers should also work on the supply too so that the demand will be high for the project to moved wave.

And there will be traffic in the project. These are some of the ways the adoption of cryptocurrency in the society is needed.

While I read through your story, it struck me that this young lady knew nothing or is ignorant of the governments current stand and case against cryptocurrencies and their users in this country.

This is a major reason why the government has to find a common ground in which crypto currency and our local Fiat coexist to the betterment of our society, because the fact remains that cryptocurrency is a sure currency of the future and as an adult currently, with some form of responsibility or the other, having the knowledge and tech-know-how of the functionality of exchanges, cryptocurrency and wallets, sets us apart or should I say makes us measure up with the younger generation who are already being exposed to the internet from small and understand crypto currency very well.

The news about cryptocurrency is everywhere on social media now and a lot of people who are into cryptocurrencies have been given testimony of how cryptocurrency have helped their life one way or the other and there is one thing about people from this part of the world, as soon as a particular thing is trending everyone wants to be a part till maybe the system crashes or no longer relevant as it used to be just like within this few days that this tapswap mining just came up in the country, every body was getting involved and telling others to join too so that is how cryptocurrency have been the most talk about news every day and people are so inquisitive and alert on what they will venture into and start making profits from it so you don't need to be surprised about the girl being involved in cryptocurrency at a tender age however someone who is between the age of 16-18 years is already an adult and can take responsibility of any decisions they make.

Crypto adoption in Nigeria is far beyond what we can imagine,just like you were surprised when the girl told you her knowledge on cryptocurrency.Our friends, neighbours, relatives are into crypto and most times you won't know if they haven't disclosed anything to you, everyone just have to appear anonymous just like the inventor Satoshi Nakamoto.
The regulation of cyptro by the government is working for our good pardon me to say such but that's the truth, lately the government have been regulating popular centralized p2p exchanges and that wasn't enough, currently notifications have been sent to all Fintech users that any user involved in crypto transactions account will be banned and with the notifications I believe it has created awareness to those that came across the word for the first time,so the government may think the regulation would do otherwise but unfortunately it has created awareness and promoted adoption to Nigerians.

Very validated. The sanctions and restrictions from the federal government over the Fintechs as a result to mute Crypto transactions in the country has so much tendered miles of promotions and awareness that crypto is still on board unlike how the crypto enthusiasts has always been on the low code doing their crypto investments within themselves without the noise pollution

I visited my mom last weekend just after she listened to 94.1 Wazobia FM as her usual.
Guess what? She began complaining how government has been making things hard in the country and then, she asked that , who're cryptocurrencies that the government has indicted the Fintech companies because of them? I smiled and said they're bitcoin there she said, but what's wrong about bitcoin? Isn't it what most citizens especially the youths has been relying on for source of income due to the economy situation? She even said her house call doctor do Invests on bitcoin.
This is just how lengthy the government has played to promote cryptocurrencies within the country.

Interesting discussion between the both of you . From this side of the world, Nigeria in particular, it gets to a certain age where a child begins to feel financial inferiority, and starts seeing the need to make a financial living. The eyes of so many have been opened to the benefit impact of Bitcoin, while others would get to understand later, but the early adoptors would unarguably benefit more.

Seeing how the mind of a young child around the age of 16-18 has been opened to cryptocurrency, if further push and guidance is done, you expect her to become successful at a very early age. Taking her parents on a financial surprise isn't bad at all. It is more ideal to make your money on a low key, and let the result show in the Open. Keeping your means of income especially cryptocurrency investment in an anonymous way would help you focus to doing more and reduce the attentions of others. And most importantly, for the sake of your security.

I know all these but we can't ignore the fact that some of those who are new to cryptocurrencies may likely drawback from it after the recent Cbn banned on crypto transactions.

I actually met someone, who is actually a friend he spoke that  as was planning on getting started with crypto the banned just came and then he had to halt this plan and I was trying to tell him that this doesn't really matter, cryptocurrency is not banned in Nigeria just restricted from by cbn government for making transactions relating to banks with it .

Also majority still continue to stick with centralized p2p exchanges though I know base on how things we may all start using local exchanges or non-kyc exchanges

Op from your post, I noticed the new project your neighbor is mining hasn't been launched. How come the token is already listed and trading on Binance exchange? Please, can you tell us the name of the new project your neighbor is mining so that we can check for ourselves to know if your story is legit or not? It is very hard to see any project listed and trading on Binance to allow people to get it for free. And since your neighbor is aware you have crypto knowledge, tell her not to put all her hope in that mining and tapping thing that 99% will not yield any profit, so when that happens, she will not have a bad impression when someone introduces bitcoin to her, thinking that bitcoin will do the same. You can also tell her about bitcoin, so that she can study it, and be free.


The ban on P2P trading on some centralized exchanges doesn't stop us from making use of bitcoin. This is the reason why Satoshi Nakamoto developed Bitcoin, so that we can freely use our money without anyone spying on us or telling us when and how to use it. Both of us can transact with bitcoin, and no third party will be aware of it.

Actually, the government chase after p2p platforms in the country brought more awareness about cryptocurrency. You may ask how, but it's very simple because most Nigerians, use these micro finance banks like opay an the rest for their day to day life transaction. And upon sending so many warning to these banks, a lot of users who might not be even aware of the existence of cryptocurrency knew for the first time that it existed. I'm happy that In our country, no matter how the government try to pull out our strings, we still manage to survive.

Cryptocurrency is the future and soon, every young Nigerian would be into the business and the government won't be able to do anything but to allow it use. The recent bull run has brought to awareness so many cryptocurrency even though its not as easy as it looks through those airdrops that were given out, it still showed us that we are heading somewhere with adoption.

That's quite interesting though, but next time you see her try and explain to her the risk in crypto and how she can go about it without being scammed because she's still a newbie can be easily carried out by what she will. just like i said in my previous post scam sometimes is like accident because you may not expect it or see it coming. I don't think it is necessary to be telling people you are into crypto I mean it's pointless unless you are in conversation with someone and maybe stuff like that came up and most people that are into crypto their appearance and the way they do things will tell you.

The p2p shut down on most foreign exchanges should have somehow reduced our adoption growth but base on we are on the bull season and the current positive news we got from airdrops especially Notcoin, alot of Nigerians, young and old are now taping and doing said mining with their phone, this may be far from the truth that they're not really mining but rather it's just an airdrop since no computational power is used there.

Though this may not be the truth but this is how majority of us also started before we became knowledgeable about bitcoin and the crypto space. Now is up to us to enlighten these new set of crypto adopters without discouraging them
 They should continue with Airdrop learn about the risk and use the money for better investment like bitcoin

While I don't mean to promote a particular Crypto such as the AltCoins as it can mislead beginners if the Coin actually turns out not to be what the developers has speculated about, I just want to say it's going interestingly to see how crypto currency is taking shape of dominance in my locality despites how the government is troubling the centralized crypto exchanges.

I was astonished to see my neighbors daughter who's within the age of 16-18 walked up to me and asked if I've heard of Cryptocurrencies and I said yes, what about it?
There she said she's mining a crypto with her phone then I asked her what's good about that very coin like I'm not knowledgeable about crypto but though I sounded like I was interested with the discussion because I needed to figure her desires about Crypto currency if I can contribute with my immense ideal about crypto and build her to stretch on the great goals with crypto currencies.
So she said it's still a new coin so investors and miners are doing pre mining to promote the project before it'd be launched and then the value can be determined. She furthered with though the coin has valuable potentials.
I still asked her if the coin has been listed in any of the exchange and she said yes, it's been listed on Binance.

To cut it right here, I asked her how she get to know all these about cryptocurrency the she said, Ah,  I've been networking with old school friends who were ahead of me and has graduated from the high school.
Lastly, I asked her if does her parents knows about what she's into? She said no, that she wants to take her parents on surprise when she'd finally hit the jackpot.
Then an emergency need came which i had to attend and got the discussion over.
It turned funny to me as I imagines between myself between and this little girl who's to impact each other in this crypto sphere because her boldness was beyond expectation.

This has as much got me to believe that lot of persons in the hood, friends and families could really be into this crypto industries that we may not be aware. Though it wouldn't bother me if they do because I myself is keeping anonymous with my crypto investment.