Post
Topic
Board Nigeria (Naija)
Re: Cryptocurrency should be regulated not banned.
by
CryptopreneurBrainboss
on 16/10/2023, 14:13:07 UTC
So now I come dey ask say if bitcoin get regulations for our country Naija, say we fit enjoy am as we dey enjoy like this?

We can't enjoy it the way we're enjoying it now wey be say na decentralized operation, Bitcoin go still be Bitcoin but Immediately Bitcoin get regulated e go lose most of its decentralized benefits for the country. We Nigerians know say we no like decentralization instead we sabi give power to a selected few. Reason am from the days of our local banking system (akawo) days to now wey people go prefer to pack billions go keep for bank they enrich the banks instead of using the money to do investment or storing dem in decentralized wey. The Nigeria governments want control and dem go do everything to get that control, if regulations enter the country other means of using Bitcoin will be suppressed but dem no go dey uccessful fully sha although they'll shift a larger share of the community to centralization. Already we're using mostly centralization things when e come to Bitcoin for the country so imagine wetin go happen when this companies begin dey get arrangements with our government on partnership and other things, dem go take over everything and everything will be centralized in the country.

Quote
Or had it been say them regulate am instead of ban, them for gree make Bitcoin a means of transaction/payment?

We dey 21st century, physical establishment aren't much of a hype anymore, exchange fit operates without owning physical building in the country. With or without the regulations dem fit still make Bitcoin a means of payment but dem no go do am because dey no get control over Bitcoin. See the way the government's dey influence the price of dollars and Naira anytime wey dem like. Na that kind thing wey the government like and not Bitcoin that dey won't have the highest say on what happen to the market. Na this same thing dey make world powers never dey reason Bitcoin. If to say dem get way to fit take over the control of Bitcoin dem for dun accept am as a currency but instead the government they shift our attention of Bitcoin been more of a speculative assets instead of accepting it as a cureency. Bitcoin can thrive with or without regulations but the fastest way for we to achieve that adoption na for the government's to come in and regulate the industry in the best way the feel possible but make we just get ready for what is ahead.