Quote from: CryptopreneurBrainboss on February 07, 2021, 03:16:57 PM

The average nigerian bitcoin investors buy from another individual instead if the exchanges so it won't have much impact instead bring about more enthusiast to the industry.

Three is one problem with this p2p scenario, you can't disconnect a country from the global trade without that having consequences.

In each country the number of coins held by traders is finite and it's either smaller or larger than the demand if the demand grows explosively and traders are unable to get this amount from other sources like global exchanges with high liquidity the prices are going to run amok, it happened before and it will happen again.
As bad as centralized exchanges are they offer immense sources of liquidity to all markets, so if a spike happens on one national market arbitrage will kick in and traders will buy from foreign exchange and sell p2p or f2f in their country to balance the books and bring the price in line with others.

If all exchanges will follow what Binance has done then this whole process will have to find a different route, which is slower and costlier for all parties, it somehow looks like an embargo on a product, there is demand in the country but you have to smuggle the merchandise from outside.
I know some hardcore fans will try to brush this aside as nothing that would be able to harm the trade but if properly enforced it's going to be a pain in the ass.

Quote from: Farma on February 07, 2021, 08:09:20 AM

based on the article mentioned, many Nigerian people do not agree with this, even they have made hashtags about this more than 26,000 times.

I wonder how many years have to pass so that people will finally understand that hashtags and claps and angry youtube videos are useless.