4K Staked Leo Achieved! But Crypto Trading Has Been Banned In Nigeria.
Via twitter
I was planning to write about how I achieved 4k staked Leo when I saw the circular making the round from the central bank of Nigeria. It's actually the most sickening news I've seen in a long time. Yesterday I made a I video about how things are becoming directives and policies from the federal government has negated the concept of smartness and ease.
So many people have been asking for the reasons why the Nigerian government has banned crypto trading since this circular passed by the central bank of Nigeria to the other commercial bank included no reasons for this ban but this is simple, government cannot control crypto, they cannot tax they holders, they don't have shares from it, they cannot regulate it, they don't understand why it's getting so much endorsement, they don't understand the tech and finally they see it's concept as a scammy way of making money.
Some days ago a Nigerian musician stated he was starting a bitcoin company and many people saw this as a positive PR for the crypto trading and crypto in general. If the government can study trends they'll discover that the largely unemployed population has resorted to Crypto trading to earn a livelihood.
But then this is probably Nigeria for you. Companies like luno that are in cooperation with commercial banks in Nigeria will have to stop working, people's fund are in jeopardy unless they send them to wallets like coinbase and the rest. Before now Nigeria is the highest crypto market in Africa and this has been one of the most thriving venture.
So basically we're seeing financial censorship of a sort. 2015 was when Nigeria saw the most terrible governance in her history come into inception and from 2015 till now, we have seen the most terrible form of Attacks in forms of control, there are plans currently ongoing to ban twitter in Nigeria.
People needs to re-register their line with a stupid government issued 11-digit and without that they face the prospect of ban on their mobile numbers, the government and her various sectors are on a ban rampage and funny enough, they're monetizing Covid-19 to get rich, but they're banning fruitful ventures like crypto that enriches the common man.
Other countries are leveraging crypto to improve their economies but it's funny that the financial sectors in conjunction with the federal government are banning Crypto in the 21st century. Bono haram has been a thing since 2014 and the government hasn't done a thing, insurgency has been a thing but the government has done nothing. It's crazy how all their decisions never affects their functionalities but the people they're governing alone and this is obviously the height of it all.
Commercial banks will have to start blocking bank account that trades crypto. I know of many people who have built legitimate crypto trading business with their hard earned capital and for the first time in my life I'm truly scared. This virtually ends crypto adoption in Nigeria since it's now a crime to trade crypto. I'm only hoping this directives don't get to work out overtime as things like P2P can be exploitative, stressful and even insecure. The government strikes once again and this time it's knock out. Meanwhile I hit 4k staked Leo
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https://twitter.com/PERCIVAL_JOEY/status/1357723181826650115
Bruh...Bitcoin was made to stand against these sort of oppression and failed financial systems! They will learn. We will move to p2p if we have to
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Let's see how P2P will go, this seems really strange to me. But sincerely, I'm hoping this is an obstacle we can overcome. Man im devastated.
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Calm down my g, there's always a way...
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Shit is scary but I'm good. You guys should watch what you use as your transaction memo because banks be watching. Also, don't receive money from any cryptocurrency related body for a while. Given time, it will cool off.
They'll go back to stealing money with their fake war against Boko Haram and approving the fucking underaged kids into law because that's the only thing they know how to do.
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Na so brother
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That's what I feel too, I don't see the ban being a success!
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Time to leave!
I don't even know what's going on. Nigeria is doomed honestly, I need to plan to leave soonest, this was actually the height of it all.
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Yeah, it's not looking good at all. Imagine not being able to cash out all your hard work. Great thing though, you can keep accumulating until when ready to leave. xo
Congrats on $4K LEO bro, I saw the news about the ban of crypto in Nigeria, that's not a good one for the country.
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The people heading our finance and economics sectors are the worst since 1960, the buhari led government is worse than anything
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Crazy time.
Why would they do that ?
you did explain a little, they cannot
control it.
I think they can through the banks.
I betcha they just realized
they lost the battle due to decentralization, globalization
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They know it's only through the banks they can control it, and seriously it's s pathetic thing, the worse policy any financial body will ever make. It's really a pity if affects people.
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The Government is fucked up, I really don't give any attention to them, this is why I don't own a bank account, I keep all by invest on decentralized wallets, I recharge directly from dex Exchanges, fuck their censored banking system, I just wish all businesses could move to a Dex platform, then Naira would sooner be worthless.
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What a bad news along with a good news, It's painful to see such monolithic act from the Govt. Let's see how it goes in India.
I'm not sure any country can ever ban cryto because basically cryptocurrency is the future, it's such a backward policy the worst of anything. They just up and ban it without no reasons.
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I don't know why our government will always be making policies that are targeted at making people's life harder day after day.
The only thing I know is that this will not last forever but it will be a big effect for many people.
For now, I will seize all crypto transaction on luno & Roqqu.
Luno will surely see a saturation stage and even probably decline as well. People might not get back their money, I don't know, the FUD is real out here.
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Don't panic my brother in arms. They won't win this battle.
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I will man, thanks a lot That's exactly what I'm thinking, I mean who survives without crypto?
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Do you have access to Paxful? I think they help move between fiat and crypto, including for Nigeria. It's P2P. It's a problem though if you need to pay with your bank account for things and the bank wants to know the source of the funds. Wishing you the best with this. I hope you find a way to keep earning.
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Paxful would also need to go through the banks I think. The banks would want to know what you're paying for and sincerely it's heartbreaking. It's even taking effect as I'm talking.