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RE: VERY CONCERNING NEWS: What does new BAN ON CRYPTO means for Nigerian users?

in Project HOPE3 months ago

You have to remember that China has put bans on crypto more than once, India had put a ban on crypto in the past and there are countless lawmakers, noted economists and central bankers that have made very convincing arguments at various periods of time regarding the banning of bitcoin and other crypto currencies.

I remember the first time China banned bitcoin, markets tumbled but bitcoin prevailed. It's certainly a lofty goal for a government to control a decentralized digital currency. In China the people just resumed trading it in other countries through vpns.

I believe it's out of their own fear and a lack of understanding regarding cryptos that this fear tactic gets thrown out into the public from time to time from different political entities.

I'm pretty sure it's wishful thinking and by now a silly narrative that seems to get thrown out to the public from political figures from time to time.

If China, Russia, India and many other leading nations have failed to ban crypto in the past, what does Nigeria have going for it that these other countries don't have enabling it to ban something no other country could?

I think it's just tough talk, wishful thinking and only strengthens crypto after the realization that it cannot be done.

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Well said... after ban, CHINA today owns the most influential people in the blockchain world