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

in Project HOPE4 years ago

Nope actually. The government may take it too far and hand over power to the military. If you remember nigeria went in a state of anarchy last year over protesting for the disbandment of a defunct police arm of government. They ( the notorious arm of government called "SARS") go as far as stopping you and asking you to open up your mobile devices , violating your personal space in order to find something or anything they can tag as incriminating.

My only fear is, such thing might happen again and it would spell trouble for crypto-hodlers like us. Besides no bank in Nigeria currently services crypto-exchanges, so you can't possibly seek to gain profit through selling assets, neither can you find your wallet and exchanges through bank deposits. The only option now is p2p but how long would that work?

It's seems more like a display of ignorance among the people in power to me, or probably a way to get back at Nigerian youths. Why do I say so?

During the protest last year. We started a fund, pulling resources together to aid the protest and make sure protesters are fed and taken care of. The government tried to take that away from us so...we resorted to storing our asset in cryptos instead. The Central bank has no power over that and so it made them(the government) feel so powerless at that point. So saying, put 1 and 1 together and you'd see it might actually be the reason.

@r351574nc3 , @crypto.piotr

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