CRYPTOCURRENCY AFFLUENZA:POWER SCHEME?
Yesterday, I got to find out that my country, Nigeria, has the highest percentage of Crypto investment and holdings in the world. It was an amazing revelation because I got to realize that there may be more billionaires in Nigeria than we know– secret billionaires. This revelation also opened a pandora's box of questions in my head.
Just who are the ones holding Crypto? In my country that is. Are they ordinary citizens or people with some special form of power?
Truthfully, I think it's both. But it might be one more than the other. I am no politic freak so I won't dabble in meaningless predictions.
However, yesternight– while conversing with a crypto senior here in Nigeria– he made a statement that lit a bulb(or fuse) in my head.
Nigeria has the highest numbers for Crypto investments and yet, the government tried to ban it. Why?!
There is no way they have no idea of Nigeria's position on the crypto chart.
This senior suggested that, the Nigerian government tried to use the power and influence of crypto to achieve selfish gain. How?
They tried to manipulate the public. Being number one, they thought they could use that to their advantage by banning crypto, manufacturing crypto that will rise in value due to scarcity in other coins. This would also attract the interest of foreigners who would buy into the Nigerian coin just for the fact we top the chart. Is this even realistic?
Even if it was a good idea, the approach they used was just off. Placing a ban on Crypto just made it climb the charts. Ahhh. These people really need thorough education.
Of course, these are just mere speculations and no one knows what goes on in the mind of those old men. But according to you, what do you think? If this was truly their plan, would it have worked? If it could work, what approach would have been better? Is it even possible to manipulate the Crypto industry?
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I think the Nigerian government realized the power the crypto holder hold and try to use it to their favour. I hear they want to introduce their own crypto currency.
The Nigerian government like to be at the top of power and anything that threatens that, they take away. Hence, the crypto ban.
What they didn't realize is that the ban on crypto trading will set people back but not keep them there. The people will always find a way and they have.
True. That's why i keep saying they need education
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You see this Nigeria government wants to control everything. And for the fact they could not control crypto, they introduced a ban.
There's always a way out that just it.
I doubt if it is possible to manipulate this crypto world because it is a decentralized currency.
As Nigerians, we always find solutions to whatever problems we find ourselves.
That's true. No matter what, we always find a way around it.
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Wow, didn't know this information, it really eye-opening.
I think the government tried to ban it because they know the wealth behind crypto and it is easy to sell Nigeria as a poor country.
Yeah. I get that. So that way they can continue to rouse the desires of investors and continue to eat our money.
Exactly, no one wants to give that much aid or loans to a country that isn't poor.
Not that they don't know they worth but one thing in Nigeria is, anything you are doing and the govt arent benefiting from it they will never give in to it that is more reason they are trying to ban it at all cost
The decentralised part of crypto drives the government crazy. They love power and it makes them furious.
Well, what will be will be.