The Ban On CryptoCurrency By CBN Will Only Serve Its Purpose

The ban on Cryptocurrency-related withdrawals by the CBN will inadvertently serve the purpose of Cryptocurrency.

It was never intended to involve banks, or nation states in the first place.

It was not even intended for conversion into regular (fiat) currency.

It was meant to stand on its own as a currency and perhaps be traded for other forms of (crypto)currency.

Unfortunately though, this would only

make sense if there was a critical mass of Nigerian businesses that accept crypto as payment.

That is not currently the case and so Nigerians who are holding crypto may have less options for converting it into spendable value, unless you're buying stuff online, mostly digital.

I preached Cryptocurrency as a springboard for scaling the 3rd world fence, but it appears that a major part of this 3rd world fence is 3rd world leadership.

This is why in 2018, I stopped giving hacks and instead preached that you should seek options elsewhere.

Attach yourself to other economies with more stable policies and predictable business climates.

You can do this without necessarily relocating.

You won't see this in any book but this is the cure for the 3rd world condition.

If you cannot afford to do this, you have my sympathies. Occupy till He comes.

But if you have the means and you still choose to bear the yoke of 3rd world randomness, you do a great disservice to your destiny and your descendants.

In Earth realm, I will always have a Nigerian identity.

But thankfully, the laws of Nigeria (currently) allow me to seek  multiple options abroad and still remain Nigerian.

Some countries do not even allow this...

And so I will exploit this until the Nigerian State changes its mind.

I'm just doing what ALL our leaders are doing... as a good student.

And even if I were born into a North Korean family, I believe I'd still figure this out.

What do I recommend you do right now?

Well... NOTHING, because even the blind can see that Nigeria is working.

Everyone is happy and the land is opulently green.

I'm probably just paranoid.

- J.O.

PS: I will be answering questions regarding this post on the Inner Circle. Details here: https://hsa.to/innercircledoc