Nigeria: The Aim For Digital Money (Crypto In View)
E-naira is being launched in Nigeria and j sort of feel that it's just a sort of attention seeking solution to quell the curiosity of Nigerians who have majorly shown interest in bitcoin and Crypto in general. Truth is, Crypto gained a noterity in Nigeria recently which has caused it's trading ban through the commercial banks, but this isn't the punchline. Many people in Nigeria are continually interested in Crypto due to the pumps, Including those who doesn't even initially like it. Why? Money. The promise of Money is making a lot of people come to a consensus. Thereby tagging Crypto as a sort of "get rich quick scheme", it's why many will prefer to buy Shiba inu more than invest in a stable project. Nevertheless, we all know Crypto is beyond that Stereotype. In this video I talk about the federal government's aim to continue painting crypto as a villian, but if the average Nigeria chooses to understand what crypto truly entails, this could change
▶️ 3Speak
I feel cryptocurrency brings people together in that aspect alone, this is wealth in community, just to say I never would have met you and get the the chance to listen to your interesting discussions and very powerful blogs, I wish you the best. Blockchain technology and smart contracts is Cryptocurrency Forever!
Thanks for the comment
Agree crypto is best
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"Magic money" is definitely something we have to change in crypto. I feel like all the bad news about hacks, pumps and dumps and other things helps the government with their crackdown. But there really isn't any way to change this since we are in a unregulated area and people just need to be educated.
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Exactly, it helps the government to feel justified in their witch hunt against crypto. The ideology held by many people could change and all this thoughts of someone making away with billions in dollars in DeFi is what most government holds without even seeing other aspects. It's something that should be bettered overtime
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Honestly with the corruption present in countries like Nigeria it would not surprise me if they simply see a national cryptocurrency as a way to line their pockets
Well, nothing bothers me about the fiat national currency of Nigeria, it's been doomed from day 1
You chose your words wisely , naira has been " doomed since day 1."
...."Doomed" I meant to say
Unfortunately you are right. Governments don't like cryptocurrencies. They don't control them. Hopefully the situation will change in the future.
They don't control it like you said, so Creating that negative narrative will always be a weapon they'll forever use against crypto.
This is really great my Nigerian brother 👏🏽
That's a crucial point for mass adoption of crypto, especially in a place like Nigeria - observing the positive effect of crypto on someone's life. It's 100% more effective than trying to talk people into it. Once you demonstrate the effects, the attraction becomes automatic.
You're definitely right, truth is, I hardly force people to buy into crypto, I believe that in Nigeria people should rather make their research. crypto changes lives but then, they don't see it rightly. Its always about the money and the greed and pumps. Its not the right mindset and people should be changing it. Luck can happen around the way, but no one should always count on luck when it comes to crypto.
I strongly agree with you brother
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Nigeria government want to use E-naira to distract them as if it is a Crypto while E-naira is ordinary digital currency that doesn't yield profit . Is just stable like ordinary Fiat Naira. There's no different between fiat naira and E-naira,both are rubbish. We can't compare E-naira with Bitcoin or other Crypto currency. Crypto currency is the best more than E-naira.
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It's probably why I believe the concept behind it, is to lure people away from the true gem, crypto is the true gem and I want to see how far this e-naira will go, because let's be sincere, if there's no use case for it, it'll die..
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Yes. It seem Nigeria Banks are promoting it
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This applies to all those people who are living in countries that still consider and claim crypto to be the villain.
Yes, absolutely
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I don't blame them, I was opportune to join and know everything I know in crypto through steemit and hive, people talk alot about stable projects here on hive. It is human nature to look for quick money but with time people will find better projects and invest in.
Our governments are just looking for a way to fill their pockets and not to support crypto.
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Well crypto cannot fill in their pockets, because they definitely can't control it.
People who started knowing Crypto with hive/steem has a pretty good base and definitely understands a lot of what's currently going on. I do believe that understanding crypto in totality would negate whatever information or skepticism the government is hoping to sell to people
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Well said
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The Nigeria government is finding way to silent Cryptopreneur, but they don't know it's not possible.
Cryptopreneur is here to stay.
I agree cryptocurrency is not going anywhere, it is the next evolution in technology, but like with anything it's what you do with it that make it worthy or not.
Just looking at this topic challenges me to study more, the statement in parenthesis makes me wonder. There other digital money?
Digital money, In the sense of money you generally can't touch or hold until it's converted to fiat
I'm seeing lots of News about crypto from Nigeria
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The Feds are like a sore wound that refuses to heal.
... I cannot for the life of me understand why anything that can potentially make the lives of your citizens better, is witch-hunted.
Oh right! They profit from the misery of the citizens.
Truth is, things would not change until Nigerians especially our generation and younger, begin to educate ourselves and I am not talking about going to school for a degree. I mean proper education on certain vital change-driving concepts and mindset evolution.
The sad thing is we would rather spend time watching big brother than reading or educating ourselves on things that will drive our lives as individuals and as a country forward.
Another banging yet sad post @josediccus.
It was great to get the perspective of Nigeria and crypto from one on the ground there. Thanks for sharing.