Quote from: CryptoHeadlineNews on August 14, 2024, 07:37:17 AM

Quote from: Charles-Tim on August 11, 2024, 07:40:53 AM

I think we should leave this because we all know already how naira and other fiat are used by terrorists, bandits, and by those that wants to collect ransom after they abducted someone. We also know already that even if the fiat is bad in the society, the government will still continue to make it a legal tender because they only see the usefulness.

He is actually right on the statement he made above, and even the government knows it, but the main reason why our Nigerian government is fighting crypto seriously is simply because it can't be controlled, whereas the other vices mentioned above are secondary allegations (i.e as an aid to terrorism, banditry and kidnapping), because even before the existence of Bitcoin in in 2009, these vices have already been in existence, of which fiat, gold and other valuable natural resources has always been a medium of exchange or means of funding to this.
I just wished we could have more people of this to speak about the true right of Bitcoin, and how positively, it has affected the lives of the young Nigerian youths.

when politicians want to luander money they do it in liquid cash, because there won't be any trace,
When kidnappers want to receive ransom they do it in fiat, latest record has it aht billions of dollars was wired out of Nigeria through the banking system by terrorists, all this was done through the bank and the traditional financial system which is controlled by the governments, so why then should there be attacking bitcoin and cryptocurrency a d trying to make any transactions through cryptocurrency to look as if it a terrorism financing.

Alot need to be done in this country so that we can regain the track we are missing, because being one of the countries that top in volume of bitcoin /crypto trading, having a good friendly regulations will help alot to generate tax from the high volume of trades that goes through Nigeria traders.