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Nairaland Forum / Nairaland / General / Business / Fall Of Liberty Reserve (798 Views)
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Fall Of Liberty Reserve by holumine: 5:59pm On Sep 07, 2012 |
I have noticed a consistent fall in the price of Liberty Reserve in the Nigeria market, and I wonder what could be the reason for this, maybe we can get response from well experienced individuals pertaining to this. And what is the possibilty of a further slip in the market today so as to ascertain when to buy and when to sell this ecurrency. 1 Like |
Re: Fall Of Liberty Reserve by hottprince: 6:09pm On Sep 07, 2012 |
I agree wit u n dsagree. I agree in d sense dt d rate @ whch LR is been sold is by som merchnts reducn I dsagree in d sense dt even tho its reducin.its nt a drastic reductn n d reductn is only in effect in 9ja n Ghana. Wt i feel is causin ds is d high dmand fr LR n too many merchnts bt most of dem r nt smart enof to maximiz d increas in demand so on d contrary dere competition is bringin d price down.n sendin som into loss cos dey cnt keep up But we dnt v to worry ds is all to our benefit. |
Re: Fall Of Liberty Reserve by hottprince: 6:11pm On Sep 07, 2012 |
As to ur oda questn bout wen to buy n sell.If u wnt to get it cheap in bulk to later sell at big amount wait a little bit by my calculatn d price will still come down.But I cnt answer wen it'll go up again.Unless if LR bcms scarce whch I doubt |
Re: Fall Of Liberty Reserve by holumine: 6:27pm On Sep 07, 2012 |
If you say it competition forcing down the price, I may well disagree because this sudden change started when LR had a downtime of about a week. Maybe that truncated the whole business (my thut). And since then its been going down and never stopped. Anyway exchangers should be able to give a proper explanation, cos am thinking about my LR after some accounts were reported frozen. |
Re: Fall Of Liberty Reserve by databoy247(m): 8:40pm On Sep 07, 2012 |
Do you guys need a soothsayer for you to know its because of a fall in the value of the US dollar? |
Re: Fall Of Liberty Reserve by Nobody: 8:48pm On Sep 07, 2012 |
The best explantion and most reasonable is that LR account owner are selling out in panick due to the recent down time. If you have a lot of cash there, you would`nt want it to get stuck if they suddenly crash. This has to do with loss of confidence in their service. Same thing also happeƱs in all other markets. |
Re: Fall Of Liberty Reserve by hottprince: 9:19pm On Sep 07, 2012 |
databoy247: Do you guys need a soothsayer for you to know its because of a fall in the value of the US dollar?That's not the reason the price of USD never affected LR dollar cos Liberty Reserve is not even a US company |
Re: Fall Of Liberty Reserve by hottprince: 9:25pm On Sep 07, 2012 |
Read well bro I didnt say competition is d cause of d fall in LR cos 9ja merchnts dont v a say in whether it goes up or down.All I'm sayin is d fall is majorly xprienced in 9ja.Take a look at recognisd exchangrs like snapgold n xchanger.dere LR rate is nt affectd by d so calld fall.Its in 9ja dt we r xpriencn ds n its good fr us as buyers. By competition I mean lots of merchnts wnt to sell dere LR n dey r ben forcd to drop dere prices to attract buyrs.But if dey r smart enof ds shudnt b happenin. |
Re: Fall Of Liberty Reserve by Wisdomxy(m): 11:10am On Sep 08, 2012 |
The simple reason is that merchants are been cautious holding LR because the LR site has not been stable in the last few days, which many see as a sign that LR may soon go in to extinction as a virtual currency just like e-gold. Anyone holding LR now may make wise decision to tranfer it to other e- currencies libe webmoney, alertpay/payza,pecunix, or other forms of currencies. A word is enough for the wise. |
Re: Fall Of Liberty Reserve by hottprince: 11:30am On Sep 08, 2012 |
@wisdom wen alertpay was trnsfrmin to payza ppl were also sceptical.I dnt bliv dt dey r goin into xtinction.Its only in 9ja dt we r experincin fall in price of LR |
Re: Fall Of Liberty Reserve by arbitrage: 11:35am On Sep 08, 2012 |
Honestly I've not seen the fall in LR price you people are talking about. Something that is higher than normal naira to dollar rate of N160 is not falling somehow. |
Re: Fall Of Liberty Reserve by guruenigma(m): 12:15pm On Sep 08, 2012 |
All exchangers do have problem from time to time. Its either they are adding new service, or upgrading or a server problem. We should know that whatever is made by human hand must have problem one day. I do not see any reason for people to panic. enjoy your transactions using LR. |
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