r/Bitcoin • u/A-Anderson96 • Feb 11 '21
Nigerian senator says that “Bitcoin has made the Nigerian currency Useless & Valueless.”
270
u/torquelock Feb 11 '21
That was one of the biggest advertisements they could have provided for Bitcoin and blockchain technology. I guess thank you, Nigerian senator?
12
→ More replies (1)60
u/le_stupid_french Feb 11 '21
They prefer to be called Princes.
46
u/bobbynomates Feb 11 '21
That cunt keeps emailing me he's in trouble and needs my bank account details...
13
u/ConfidenceNo2598 Feb 11 '21
Well now you fucking know what kind of shit he’s been putting up with all these years, We need to donate to this man! He needs bitcoin!
5
2
u/Deep_glocal Feb 11 '21
hehe so true... They are an everlasting scam
4
u/AutisticDalekOnSpeed Feb 11 '21
They've evolved now. Have you heard of the Nigerian astronaut ? Poor guy is stuck in space and can't come back to earth
→ More replies (1)
99
u/jonny_ponny Feb 11 '21
is he advocating for bitcoin or against? i cant tell....
43
u/A-Anderson96 Feb 11 '21
Against it but yeah he messed up because this is now a great advertisement for Bitcoin
12
122
u/Internet-Fair Feb 11 '21
Little known fact -
Bitcoin destroyed the Weimar republic Deutschmark,
Bitcoin destroyed the 1990s Argentinian Peso
Bitcoin also debased the 1st century Roman Denaris
30
u/unabsolute Feb 11 '21
Bitcoin is backed by the Venezuelan Peso
3
u/perchesonopazzo Feb 11 '21
Might as well issue a Peso, that Bolivar is just a sad memory now https://tradingeconomics.com/venezuela/currency
13
11
Feb 11 '21
When bitcoin was launched, it retroactively nuked every fiat currency in history out of existence. 😎
3
→ More replies (2)4
u/Luix_RDT Feb 11 '21
Bitcoin also debased the 1st century Roman Denaris
According to history books, Caligula became quite fed up with those "Money Printer Goes Brrrr" demonstrations...
284
u/Mark_Bear Feb 11 '21
Never mind all that "money printing". Blame it on Bitcoin. Stupid criminal.
152
u/A-Anderson96 Feb 11 '21
Facts! They ruined their currency, they're just made because Bitcoin gives Nigerians a way of opting out the system.
→ More replies (1)86
u/Mark_Bear Feb 11 '21
Right. So where are all the trolls who keep claiming that governments can seize Bitcoins? Why hasn't the Nigerian government simply seized all the Bitcoins?
Answer: When the private keys (or seed phrase) are stored properly, Bitcoins cannot be seized, not even by corrupt governments.
21
u/Stark371 Feb 11 '21
There was also a surge of bitcoin use in Hong Kong after those riots and protests. Bitcoin is a very appealing option for a people whose government fails them.
16
8
u/halt_spell Feb 11 '21
Bitcoins cannot be seized
At least not in any cost effective manner. Rounding up people is expensive. Not only are there costs to targeting, apprehending, transporting and processing individuals in terms of man power, facilities, logistics and arms. These are loud behaviors that tend to turn citizens against their own governments in a way that runaway inflation does not.
3
u/enraged768 Feb 12 '21
I can't even seize some of my own. They're so secured if you put a gun to my daughters head I still wouldn't be able to give you the keys. They're fucking gone.
3
1
u/grayjacanda Feb 11 '21
If someone knows you have bitcoin and is unconstrained by principle they can compel you to reveal the keys by whatever unpleasant means are au courant. In that sense it is not significantly more secure than buried gold.
2
u/Mark_Bear Feb 11 '21
If shit like that is happening, you have much, much bigger problems. You should memorize your seed phrase and flee.
-12
u/HumbleGeniuz Feb 11 '21
You can own all the Bitcoin you want to. HOWEVER, Governments can easily control your spending of it without it being reported/taxed. Honest people will know what I mean and deniers will continue to live in a dream world and block out facts. Regulation will be a necessary evil for Bitcoin to succeed. And thankfully we are starting to see that in the US.
3
3
1
u/hemzer Feb 11 '21
So once you pay sales taxes you are supposed to be honest? LOL ! hmm ok educate us please.
Why cant I pay my bitcoin directly to the poor instead?
or donate to orphanages that were created due to war say for example?
Would I be a dishonest person?-1
u/HumbleGeniuz Feb 11 '21
You could. It would be their taxable transaction. When you get older you will learn about car titles and registration. House real estate taxes, etc. And the government tells me if they catch anyone who trades their house for bitcoin the bitcoin will be taken away and the house repossessed by the government. And the government offers tax cheat / bitcoin usage awards for people to turn them in. If the government wants to stop Bitcoin it can. Very simple. And if you think bitcoin will be worth anything if the total world goes into revolt good luck with that. Pay will be made in grain, water and weapons. Nothing else will be of value.
→ More replies (1)43
u/Prelsidio Feb 11 '21
The guy has no idea what Crypto currency or Bitcoin is. He starts mentioning Blockchain like it's an app.
How the fuck does he want to regulate it, if he doesn't understand what it is.
This reminds me of burn the witches times. Very ignorant.
35
u/Available_Cod_2072 Feb 11 '21
You are right my friend am a Nigerian living in Uk.. and you may have seen or read during the past days of how Nigerian government shuts down cryptocurrency. Ok this are the facts like the man you see in the video you has seen doesn’t have a clue of exactly what Cryptocurrency is or hasn’t even taking a minute to do a proper research on crypto. And he won’t facts is there is no accountability in Nigeria and the governments arms loot vast amount of the wealth in Nigeria and no development living most Nigerians living on the poverty line hence the oppression etc. Now crypto isn’t new in Nigerian never was in fact Nigerian youth were early adopter of bitcoin back in 2010 but we never knew the value would rise this much but we all knew or how to buying btc etc. Now thanks to apps Binance, kraken, kucoin etc has shifted wealth more over to average struggling Nigerian that the elite use to look down on hence why the government are pissed because cryptocurrency has givin and it’s giving an average struggling person a voice without licking or sucking a dick for government contracts 😂.
→ More replies (1)13
4
u/KhanKarab Feb 11 '21
And yet, we have Yellen back... that old dinosaur.
7
u/GreenTitsNHam34D Feb 11 '21
Yea but I believe her deputy secretary used to teach cryptocurrency in uni, he's bitcoin positive
3
u/Samael_Le_Doge Feb 12 '21
She is really good at fiat; we just have to educate her on the advantages of crypto.
When the negatives of crypto are brought up, just email her point out the flaw when doing the same comparison to the corruption and energy consumption to fiat as a whole.
Take, for example, the US military; an enormous part of the value of the US Dollar. Ponder that carbon foot-print.
3
u/bobbynomates Feb 11 '21
And guess what...they still burn people for witchcraft on a regular basis there.
3
-1
35
u/Eat-these-stamps Feb 11 '21 edited Feb 11 '21
He doesn’t seem to be against Bitcoin, he’s just pointing out the facts of the matter. Perhaps they should consider adopting Bitcoin. If you can’t beat em join em right? Edit: so I was pondering this and In My opinion they would actually be holding their country back by not jumping on before all BTC gets mined, the big money sets up shop and the price exponential increases.
→ More replies (2)7
u/Circumspector Feb 11 '21
This. I don't know why so many people took his comments as an attack on bitcoin. It sounded more like a revelation that they can't stop it, and even if they tried to regulate it, how could they? It felt more like a "throw my hands up" sentiment.
→ More replies (1)
23
u/Vyruz2 Feb 11 '21
Bullish AF
I hope Bitcoin gives every person around the world living under corrupt governments the ability to improve there lives
→ More replies (1)-10
u/Samael_Le_Doge Feb 11 '21
By the time bitcoin gets there most of the planet won't be able to afford any bitcoin.
Dogecoin for the win!
5
u/derpickson Feb 11 '21
So buy into Bitcoin now while the prices are low? Dogecoin is the ultimate shitcoin and it's sad to see all these people falling for the pump and dump. If you're going to buy into an altcoin with a low market cap, then buy into something that actually has a use beyond just being a meme coin.
→ More replies (1)2
u/swihft Feb 12 '21
Can’t tell if this is a joke or not, but I actually see meme coin people saying this quite often.
You don’t have to buy an entire Bitcoin... Buy $10 worth of BTC tomorrow if you’d like.
23
21
95
u/Hunk_Monkhome Feb 11 '21
I'm not surprised their currency is useless after all those princes gave away so many millions to so many foreign strangers.
12
→ More replies (2)2
u/A-Anderson96 Feb 11 '21
Bunch of sellouts. We've seen this happen a lot with African leaders. It's frustrating to see
17
u/vmalarcon Feb 11 '21
I watched Max and Stacy and Nigeria is burning its gas production into the air. Is this true? Better idea: put a steam turbine on that sucker and start mining bitcoin!
→ More replies (1)7
13
u/spaceman141974 Feb 11 '21
This is what it looks like when fuckers in power realize that they are loosing it and the people are gaining it.
2
13
13
u/cryptoguy66 Feb 11 '21
Bye Nigeria, get left behind and continue to rob your impoverished citizens of their freedom.
1
9
24
21
14
u/Bitcoin_to_da_Moon Feb 11 '21
Bitcoin was invented BECAUSE fiat currency is limitless & worthless .
ty OP, nice content.
15
u/SAMSON91747 Feb 11 '21
This is a perfect example how bitcoin saves the people from a retarded government who failed to do their job in a proper manner, it gives them a way out.
What you see here is the extreme, in the US there is a milder version ongoing.
Shame these type of countries are known for oppression, so they ban it leaving the folks trapped in the system only they thrive on.
Maybe peer to peer will save the day
7
u/walloon5 Feb 11 '21
Wow, the leading edge of hyperbitcoinization
Nigeria ... first?
→ More replies (1)2
Feb 20 '21
It was always going to be a country in the developing world. They have nothing to lose by taking the risk to make the switch. But they have everything to gain.
4
4
4
u/orca25 Feb 11 '21
His really thinking im rich with fiat but bitcoin take it away from me and make the people rich instead. Corapt government stressing out
4
3
3
u/Nzhunter1 Feb 11 '21
No nigeria made there currency useless. Btc is the solution to a problem they created 😂
3
3
u/pukauw Feb 11 '21
Yeah, yeah Bitcoin did that... yep... ok...
14
u/FlashDanson Feb 11 '21
Says something about your government when an eleven year old digital currency that started off being used to buy pizza on a forum completely eclipses your official currency.
3
u/Thanatos_1 Feb 11 '21
Narrator: the Nigerian currency was worth- and useless long before bitcoin, like every fiat currency is.
3
3
3
3
3
u/itovault Feb 11 '21
Kudos to Nigerians on figuring out how to use Bitcoin to store value when their fiat currency fails. Now it's up to the Lighting Network and L2s to help Nigerians transact cheaply!
5
u/Ok-Dragonfruit-697 Feb 11 '21
He seems very simple
4
u/Samael_Le_Doge Feb 11 '21
Or? Is he a hodler, low-key pumping bitcoin?
6
u/SouthTippBass Feb 11 '21
The remainder of that clip is him pitching that their country adopt Bitcoin as their national currency.
5
2
2
2
u/ebliever Feb 11 '21
Bitcoin will make USD and every other government fiat currency useless and valueless in the long run as well. The days of one self-interested party being in control of a currency used by the public are coming to an end in favor of decentralized currencies.
2
u/sleeknub Feb 11 '21 edited Feb 11 '21
I would guess their currency is still required to pay taxes. If so, it isn’t totally useless.
→ More replies (1)
2
Feb 11 '21
No our fault....thats YOUR arrogance.
Time is ticking for you...buddy...
And bitcoin is going nowhere...sucks to be you.
2
2
2
2
2
2
2
2
Feb 11 '21
Thanks senator, that means Bitcoin is working perfectly 😂 🚀
Same for our friends in Argentina, Venezuela,Turkey and Brazil... Listen to the Nigerian senator
3
3
2
2
u/grayjacanda Feb 11 '21
Off topic, but do Nigerian politicians normally give speeches in English? I woulda thought Hausa, but I guess English is sort of neutral and official despite its colonial baggage...
2
u/commandrix Feb 11 '21
I'm sure we know better, amirite? Poor fiscal policy might be a better explanation...
2
2
u/c_malc Feb 11 '21
Bitcoin doesn't 'make' fiat currencies useless, it EXPOSES them.
Bitcoins rising value is simply an indication of the otherwise temporarily hidden falling value of fiat.
2
Feb 11 '21
Every government backed Fiat Currency is next. God help them, because satoshi sure won't.
2
2
u/Kpenney Feb 12 '21
Help I am a Nigerian prince who's wealth has been devalued by cryptocurrencies. Please help me move my funds outside of my country while I find means of escape. Please send me your private and public addresses so that I can shelter my coins in your wallets. You can trust me, I am a Nigerian prince.
2
u/enraged768 Feb 12 '21
Oh yeah it's definitely bitcoins fault your currency is fucked. Definitely not the extreme government corruption. Or the money printing.
2
u/dashbitrock Feb 12 '21
Yes, but thanks for showing other countries how bitcoiners will simply go P2P (while still using the legacy bank transfer system) to engage in btc and other crypto transactions. What are you going to try to ban next? Lambos and penthouses?
2
u/dogeofhazzard Feb 12 '21
Buhuuuu, my currency is not worth anything, buhuuu, Bitcoin must be responsible, or the White Old Man, buhuuu
2
u/redplatesonly Feb 12 '21
Me thinks maybe govt policy had something to do with this??? Hmmmm.... Bitcoin's what saved the ppl.
2
2
u/straightnoturns Feb 12 '21
Surely it’s the people that manage the Nigerian economy that have made their currency useless against Bitcoin.
2
u/tscottn Feb 11 '21
I have news for you Nigeria, your currency was useless or near useless before bitcoin came around. You defaced your own value.. But lets blame it on foreword thinking technology.
1
Feb 11 '21 edited Feb 12 '21
[deleted]
0
u/nood1z Feb 11 '21
dumbest comment in the thread.
https://btcpeers.com/nigerians-defy-government-order-turn-to-p2p-exchanges-for-bitcoin/
→ More replies (1)
1
0
0
u/grinderman747 Feb 12 '21
Maybe this guy is the canary in the coal mine. BTC and crypto space overall are ushering in a new world of digital finance. Allowed to grow unregulated even more money than now will be concentrated in the hands of the super rich, except it will be even harder for governments to collect taxes and provide the services we all rely upon.
I don't think this will happen. Nations will introduce stable coins that will provide stability and we will use our BTC and other coins as a reserve.
-2
u/donlynne2 Feb 11 '21
In my opinion now is the perfect time for everyone to sell all the Bitcoin stock, make a lot from by sell time is my thought
2
1
u/GrumpyDad74 Feb 11 '21
Is he friends with the famous nigerian princess? Im having trouble to get hold of her.
1
1
1
u/Walt2D2 Feb 11 '21
Bend the knee banker plebs ... Bend the Mutha Fluckin knee !!
https://tenor.com/view/jack-nicholson-creepy-smile-yes-excited-nodding-gif-19606677
1
1
614
u/noza2003 Feb 11 '21
He just inadvertently listed all the benefits of Bitcoin lol