NewStats: 3,263,805 , 8,181,456 topics. Date: Sunday, 08 June 2025 at 01:29 AM 4a3b39

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CBn did the right thing, when you consider how reckless our local banks can be.
1)A crypto exchange going down can cause systemic failure in the banking system making CBN and even Amcon to bail out.
2)Exchanges began to fix their own naira rate and round tripping was encouraged.
3)A local bank can hold Crypto as part off it's assets , if or when it drops/corrects 80% what kind of shock do you think that will cause in a financial year.
4)Banks can't be made responsible for P2p transactions.
5)Crypto was killing Fintech and even micro finance banks.
6) Satoshi Designed BTC in such a way that CBNs will have no choice but to ban it.
7) KYC and AML issues.
Is the central banks job to first protect National Currency and banking institutions first or Encourage such innovation at all costs.
9) The Naira is currently backed by Oil not btc.
10) The CBNs gov tenor is 8yrs at Max not 2145 when the last Bitcoin. Will be mined.

If you are the CBN Gov with all these revelation. Would you not ban it immediately.

Flelo nice job.
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AdolfAboki:
It is only in Nigeria that someone will sell uned/banned securities and as if that isn't enough, go ahead to partner with a legit/ed company!

Zugacoin itself is synonymous with illegality! Everything about it is illegal, starting from its initial coin offering (ICO)..

MAJOR SINS OF ZUGACOIN..

1. It's an uned security. Section 13 of the Investment and Securities Act (ISA), 2007 empowers the SEC to regulate investments and securities in Nigeria. In exercising its authority, the SEC classified digital assets as securities, unless proven otherwise by the issuers. The owners of ZUGACOIN never did, and to make matters worse, they listed it on unregulated exchanges, in clear violation of the law.

But what I don't understand is why the SEC ignored their illegal activities. That's if they aren't culpable. Allowing "big" names to take advantage of hapless investors. I wonder why they aren't learning from their US counterpart - SEC... The US SEC halted Telegram's uned digital token offerings - even though TON is actually solving issues.. See what they did to powerful Ripple, etc.. But here in Nigeria, once you are powerful, you can do as you please and get away with it. Too bad!


2. Cryptocurrency(trading activities) Ban.. This is where Innoson comes in. Being a legit company, why partner with an uned, unlicensed company that deals in cryptocurrency, knowing full well the stand of Nigeria on Cryptocurrency?

According to CBN:



Why? To the extent of even "manipulating" the market with its partnership bs? Can a legit US company at this time partner with Ripple? Note that crypto isn't banned in the US. The issue is that SEC filed a litigated action against RIPPLE, accusing it of selling uned securities, known as XRP.. Not that Ripple has been convicted!

But here in Nigeria, Innoson is partnering with an unlicensed company trading an uned security (crypto) which is illegal in Nigeria. Such impunity!

OTHER SINS OF ZUGACOIN

1. Its price had been manipulated from day one! Imagine listing at $40k only to dump the shitcoin on noobs! Pathetic! It's currently trading at $95.24..(Monday, March 15, 2021 @ 5.09 pm)

2. ZUGACOIN team has only one TECH developer. Funny!

3. ZUGACOIN is not solving any problem. Just another ERC20 vaporware! (See contract address: 0xf5832512CFDa8083E5b2dd0aA7C1B9265c03BA1F

4. is shit!

5. It's centralized. Decentralization is one of the features a crypto coin must possess in order not to be considered a security. ZUGACOIN is even worse than XRP in that aspect.

6. Most importantly, there's no source code. In other words, nowhere to the quality of the code.. Whether it has a backdoor or a deliberate bug that will be exploited in the future, who knows? Those familiar with this industry know what happened to PAID Network Price (PAID), another cryptocurrency that suffered exploitation. How the attackers minted 60 million coins and dumped on the unsuspecting investors!

So why should we trust ZUGACOIN? Their nairaland.macsoftware.info/attachments/13249327_externallinkaltsolid_png8648541bff077cf12ea8b17dbf1b4fc0 is next to nonexistent!

7. Similarly, no security auditor has audited their 'nonexistent' code for flaws...

Yet despite all these obvious red flags, this is the kind of project Innoson is partnering with? If that's not fraudulent, then what is?

May God help Nigeria.

https://www.coindesk.com/nigerias-sec-puts-plans-to-regulate-crypto-on-hold-in-light-of-central-bank-ban

MrIcredible:

I pity you with your half-baked mumu research...

Your problem is that you can't read and comprehend that's why you must cause and abuse to discuss. No points...packwell

Molahnelson:


bro a Crypto that is not running on a blockchain of his own have a downside, imagine paying 30$ of Eth in fee to sent 5$ zugacoin.

Let them lunch a mainnet of his own then we can talk about the future of it. for now is a shitcoin that will go onto oblivion by time

if you do yours research well you will find out it was selling at $47k in January, one month later is selling at $100 so think about what it will be selling by 6 months time from now

I'm a Crypto Research Expert, so I know what I'm talking about

Yes Etherium blockchain can never do any walk in poverty alleviation where people leave on less than $2/day and you pay very high fees just to exchange value.
That's why they are looking for bishops and inno motors. Do poor people visit such places. As crazy as the price crash may look Zugacoin is still in price discouvery face as dramatic as it may be.
Which even the founders are not aware off how to do such. Eth blockchain is where the liquidity is now.
Even the best designed blockchain can't pull such liquidity now. How much more a Bishop designed blockchain.
They should have done an extensive Airdrop on a cheap blockchain and start from $0.25c even at that the SEC will not allow it unless they announce that it is worthless not giving it value to buy a Very expensive Jeep. Banned Banned Banned.

Molahnelson:

This is a token on ethereum blockchain

with only 1millon Total supply

I won't advise anyone to buy

With what you have just said, is supposed to be actually the reason why I think people should buy.

The creators know exactly what they are doing. I laughed when I first saw it, but after visiting Etherscan, I give these guys some respect. Let me show you the fair value.
By the way I don't yet own this coin and am not your financial adviser.
Any thing can go wrong including the founders dumping close to 1mill coins on the market.
With that out of the way.

This is the only coin with a legit blockchain targeting Nigeria. So 200m market / 1million units gives it a fair value of $200/Zugacoin. So if the price es $200 you sell if it falls under $200 you buy.

This is more like Doge but only 1mill units while Doge is 900bill units. And they are creating partnerships on the ground and utility. So nothing stops this coin heating $2000.

The main issue I see is that, 4000persons/addresses or less own 10000units. How is this going to alleviate poverty? they did not carry out a good Airdrop. Showing that they are not as sincere as they sound.
And they are fronting a. Bishop! Did the bishop not ask them how many people hold these coins. Or are they planning for an Airdrop after price has already hit it's fair value. Hahaha...

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My Guy you are a confirmed Pharisee, one of the persons that killed Jesus. Read Luke:14.

They even asked Jesus why he healed on the sabbath day. So I expect such questions from those leaving under the "Law" not for bornagain Christian's.

Anyway give your life to Christ you still have a second chance and find a Bible believing church to attend.

everyday in Heaven is Church. So where are you going?

Don't stay in darkness get light.

Still running good

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We are Lithuim battery recyclers and manufacturers the govt should talk to us.

The issue of darkness in Nigeria is so bad that you will not understand why even a 100watt solution will go so...so ... far.

If Nigeria produces 10,000mw maximum and there are 200mill people.

10000mw/200mill = 0.05watts/hr for each citizen.

That cannot even light a bulb, talkess of charging a phone. That's why you see people running around to charge phones.

If the VP can see this info, he will concentrate on legislation, standardization and stop making cheap solar become very expensive for the common man. All the sellers as far away as in China, now and manufacturers have trippled their prices waiting for govt palliative purchase.
The VP is not an Engineer but a Lawyer pls fix that which business men can't fix.
For example there is no equipment energy rating in Nigeria. A fridge rated A+ 100watts another fridge same size and capacity C- 2000watts. A fridge is not a fridge in renewable energy.
Also Accredited installation Engineers.
Why is there no renewable energy listed company on the stock exchange?
Traders/business men working with well funded research institutions.
Just so much to mention let me stop here. Hope this fire�service govt will build great institutions and stop this approach to long term problems.

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hoover420:
Any cheaper alternative which can carry 3 bulbs, 2 fans and phone charging ( no laptop). A prompt and precise response will be appreciated.

The Package is N75k
Some fans are even stronger than laptops.
Fans usable for this package not more than 70w thanks.
Rechargeable fans prefarred.
Thanks

Still available.

A lot of heat and friction is lost, an inverter is still better.

Good to go well packaged renewable energy.