Quote from: Nrcewker on Today at 10:13:58 AM

Quote from: danskgraes on September 18, 2023, 11:25:29 AM

Thanks for sharing your experience. It's a testament to how volatile the regulatory environment can be. Let's hope for more transparent and crypto-friendly policies in the future, not just in Nigeria but worldwide. It's a wild crypto world out there!

The main reason for Nigerian government or other countries government not accepting Bitcoins is due to the decentralised nature of the coin. Due to this the government cannot control the coins neither can impose tax on it. Hence in many countries we see Bitcoins are banned or not regularised. We cannot do anything here. Just use P2P transactions to buy sell the coin, and enjoy the freedom of your finances.

True, government are very hesitant with bitcoin or crypto currency, well sad reality not just because bitcoin is decentralised and cannot be controlled by anyone or manipulate, bitcoin or cryptocurrency also are being used for crimes, taking advantage of the features and advancement of bitcoin an its technology blockchain, there are a series of incidents wherein government sites are being hacked or being a victim of ransomware where they will ask for money exchange for the freedom of the site containing the information and confidential informations of the people, so to not them being tracked or chase they asking the money in form of bitcoin, as its untraceable and no one could know who is the owner of that address. Also money laundering bitcoin or crypto are being used in that crimes, that's why it also understandable why government are scared and cannot accept cryptocurrency easily.