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.

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.

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

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.

Do you guys need a soothsayer for you to know its because of a fall in the value of the US dollar?

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 happeñs in all other markets.

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

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.

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.

@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

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.

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.