Crypto Craze — SteemCN

I have been out and about this week looking for something extraordinary and exciting to weite about, Nigeria 🇳🇬 is full of hustle and bustle and i was sure i will capture something to make a good read.

As expected, i did and it is the BTC boys that caught my attention. I have been following the outragious and extravagant livestyles of these boys since the rise in the price of bit coin expecially from decenber 2020 to the end of 2021.

The crypto craze was like the temple run game. Teenage boys became multimillionaires over night. Clubs were swamming with the new wave.

Nigerian inflation fueled the fire by exchanging NGN460 to $1 and thus the bitcoin price in our local currency in december 2020 was a whopping NGN 19m and as at 2022 it has blown up to almost NGN 80m.

We had teenage boys richer than the president!

This craze drove many to their ealy grave, some began buying luxery cars, renting whole hotels and throwing parties all week long.

The signature move at the peak of the crypto rise was the washing of the hand with very expensive spirits (over priced really). One strange thing was that one BTC boy can buy drinks work 10million naira in one night and throw away money and compete in out doing each other in the spending.

Our govenment grew mad. What they did was exactly what they did in the 70's when we had the Oil boom. They became greedy. The BTC boys were picked up by special financial crimes taskforce. Their accounts were frozen, banks were forced to stop all collaborations with majoy trading platforms. People got their accounts frozen for holding very small amounts of cryptocurrency.

The BTC boys didnt go away, the system was currupt so they could buy their way out with a few millions.

Then the roumors began to go round that BTC boys are the YAHOO boys.

The YAHOO boys are a group of young men who have developed skills in duping unsuspecting white folks of their hard earned money in form of gift cards, cash deposits and others. They may make older women fall in love with them and begin milking them of their hard earned cash.

The conflict of identity created by the government was due to two reasons,

They didn't care to do their research on blockchain and cryptocurencies
They didn't like the idea of a decentralized currency.
They didn't like the fact that it is not a stable currency.

So as usual, they made us ignoraltly fight the force that was key to bringing us out of debt.

Today, major crypto platforms usese vouchers to help us buy crypto like bitcoin and other coins and we also withdraw by redeeming vouchers.

Many BTC boys are almost broke except for those who jumped into the NFT craze. So we have boys who show up at your party and you become a millonier who can not afford their own hotel bills and they have to go back to their father's houses. Boys who can buy hundreds of bottles of Hennessey looking for anyone who can lend them $8 to feed. People whose bitcoin wallets have $12,000- $20,000 in crypot now looking for where to squat.

To conclude, Bitcoin looks promising as it now sells for over NGN15m per Bitcoin. We hope to see meaningful investment and more government involvement in the adoption of decentralised currency.

We can break off from our fear of crypto and embrace the future.

We can take advantage of this new wealt wave and create a conducieve and investor friendly Nigeria where technology will truly benefit the common man.