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Keiser Report looks at Nigeria’s futile attempt to ban bitcoin

Nigeria’s central bank has ordered banks to close the accounts of all cryptocurrency users, warning of “severe regulatory sanctions.” The ban comes as bitcoin penetration in the country is the second highest in the world.

As paper money becomes increasingly worthless, smart countries are beginning to stockpile bitcoin, Max Keiser says. Some of them are “using flaring gas rigs to convert it into the hardest money ever known in human history, which is bitcoin.”

Max says that while governments are trying to ban bitcoin, they will find that that their populations essentially ignore them. “And once that precedent is set, then like dominos, central banks all over the world will start to realize that they are no longer needed.”

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