frowland:
[s][/s]

Misinformation right here.

efemena5050:
over sabi wan tear this one skintight.... I bliv u only u understand ur write up above.... True Nigerian, always trying to sound intelligent like Nta ait and silverbird discussions.... Without any animate proof to that same discussion....

Xisnin:


You must be a newbie. Cryptocurrency values vary widely due to speculations and market manipulation.
Cryptos have no value except as speculative currency.

You didn't mention that bitcoin fell from $19700 to $3500 within a few months in 2018, making poor ignorant
people poorer and enriching big players.

You might think I am anti-crypto but I am not, I do trade in crypto but I know that it is not different from MMM or gambling.
Same cannot be said for people who are being fooled to invest in what they don't understand with the promise of quick riches.

rabzy:


You trade in crypto and you know it is no different from mmm or gambling?... Pls just stop

Newguyhere:
typical bs talk from people who don't care about the masses
Bitcoin changed my life!!

Xisnin:

Crypto used to have one major function which is privacy for geeks. Then it was of little value
until speculators stepped in.

Many people who managed to make some change from coins trading love to defend what they don't
understand because of course, they made some money, so it must be magical.

Soul47:


What are you spilling Chief. First you likened Crypto to MMM, later Bet9ja, now are you implying that crypto (Btc) is no longer private?

In MMM you help people, hoping someone else will join the system and help you, with a higher amount right?
That's not the idea of Bitcoin.

In Bet9ja you wager against the occurrence of an even with a level of probability right? If you guessed it right you get a stipulated reward for that, if wrong you loose your waged amount (stake) right?
That's not the idea of Bitcoin.

As for privacy, till the end of time, you cannot get any single information about me from my Bitcoin wallet address. Same for others right? But your BVN can land you in jail.

So what are you saying Chief.

My advice, don't advertise your ignorance.

Xisnin:

It has always been private for the general public.


Even if you want to be the opposition, atleast present valid submission.


Actually, it is.
I just told you the 2 functions of cryptos, privacy, and speculation.
The privacy aspect is no longer important safe for geeks.

You buy bitcoins hoping bigger fools will buy it from you at a higher price.
When there are no more fools, the system crashes and have to reboot from lower amounts.
That is MMM 1.0


Common, we all understand context and connotation.
When I buy bitcoins at a particular price, I am placing a wager that it will increase
in the nearest future. If it doesn't, I lose. If it does I win.
Gambling is about wager, not the conditions attached.


Just don't commit a major crime. You will be fished out.
I don't have the resources to get your details but the government does.

Let me share a secret with you. If you have ever exchanged crypto for fiat in any form
or platform, you are traceable.

Have you heard about cryptocurrency laundering services?
That is what some smart criminals use to further make their transactions untraceable because
they know that the privacy and security of cryptos are not bulletproof.
Even with such service, there is still a chance of being traced.


I am not the one who thinks their safety is guaranteed because they use cryptocurrencies.
Everything about you can be determined from your wallet address.

Xisnin:

Yes.
Naira value will always exist as long as Nigeria's government exists.
But if you are so confident in your crypto, kindly liquidate your assets and
invests 99% in cryptos.
You will have a story to tell in 6 months.

Soul47:


What are you spilling Chief. First you likened Crypto to MMM, later Bet9ja, now are you implying that crypto (Btc) is no longer private?

Even if you want to be the opposition, atleast present valid submission.

In MMM you help people, hoping someone else will join the system and help you, with a higher amount right?
That's not the idea of Bitcoin.

In Bet9ja you wager against the occurrence of an even with a level of probability right? If you guessed it right you get a stipulated reward for that, if wrong you loose your waged amount (stake) right?
That's not the idea of Bitcoin.

As for privacy, till the end of time, you cannot get any single information about me from my Bitcoin wallet address. Same for others right? But your BVN can land you in jail.

So what are you saying Chief.

My advice, don't advertise your ignorance.

Xisnin:

It has always been private for the general public.


Even if you want to be the opposition, atleast present valid submission.


Actually, it is.
I just told you the 2 functions of cryptos, privacy, and speculation.
The privacy aspect is no longer important safe for geeks.

You buy bitcoins hoping bigger fools will buy it from you at a higher price.
When there are no more fools, the system crashes and have to reboot from lower amounts.
That is MMM 1.0


Common, we all understand context and connotation.
When I buy bitcoins at a particular price, I am placing a wager that it will increase
in the nearest future. If it doesn't, I lose. If it does I win.
Gambling is about wager, not the conditions attached.


Just don't commit a major crime. You will be fished out.
I don't have the resources to get your details but the government does.

Let me share a secret with you. If you have ever exchanged crypto for fiat in any form
or platform, you are traceable.

Have you heard about cryptocurrency laundering services?
That is what some smart criminals use to further make their transactions untraceable because
they know that the privacy and security of cryptos are not bulletproof.
Even with such service, there is still a chance of being traced.


I am not the one who thinks their safety is guaranteed because they use cryptocurrencies.
Everything about you can be determined from your wallet address.

Mftivi:
that guy too daft abeg! You can be traced with your wallet of you put in in a public profile maybe in a forum that has space for that (you have attached a face to the wallet)

NotJobless:




The Nigeria Deposit Insurance Corporation (NDIC) has issued a public warning about relying on cryptocurrency transactions. This was done via a press release on the 25th day of July, 2019.

According to the press release, managing director and CEO of NDIC, Umaru Ibrahim. said relying on cryptocurrencies is very risky, because they are unregulated and not backed by central banks in most financial jurisdictions.

The NDIC provides a safety net for depositors and aims to protect the banking system from instability caused by bank runs or loss of confidence.

According to Ripples Nigeria, Umaru Ibrahim had previously talked about his concerns during a courtesy call with the NDIC board and the Speaker of the House of Representatives.

Speaker Femi Gbajabiamila, spoke on eagerness to regulate cryptocurrencies and partake in the emerging global crypto market. He said:

“The NDIC and other safety-net participants in the country must not be left behind in the adoption of appropriate regulatory framework to deal with the prevalence of cryptocurrencies in the global financial space.”

Many Nigerians are currently using Cryptocurrencies and there is need for the regulation of this sector in the West African Country,

From TestBoo.Com - https://testboo.com/nigerian-deposit-insurance-corporation-warns-against-cryptocurrency/

Mftivi:
let me educate you small.

Crypto currencies never crashed they dipped. Pop open a technical chart of any popular stock you know on the NYSE then Open a BitCoin chart too. You will spot an up and down movement but you will notice that the slope is tilted towards the upside signifying progress in price levels. Good technical analysts like myself and many others have mastered the art of selling highs (tops) and buying lows (swing low, "a higher low) the secret that pessimists like you have not discovered is that even though price comes down till it's scary, it never goes lower than the other time and that creates an overall bullish trend or structure where you see higher highs and higher lows.
Open a currency pair chart say EURUSD and also open USDNGN. You will find that EURUSD have been going up and down but overall it has no particular direction, you will also notice that USDNGN have been in a perpetual uptrend which means that Naira have been falling in value with reckless abandon! A fool who invested in BitCoin have been proven wiser that a wise person who held 100% cash position. The former saw his position appreciate the later saw his money become of less value.
Moral of the story ? Understand the asset class and fucking buy dips!

nextstep:


Er... the poster child for cryptocurrencies (Bitcoin) varied from $12,927 to $9,422 in the past month, and hit as low as $3,147 less than 6 months ago. Not to mention its peak at $19,650 early 2018. How's that for proof of volatility? Imagine if the dollar or yen varied so much. You can't have a currency jumping all over the place if it wants to replace more stable fiat currencies.

If the most visible type of cryptocurrency is so unstable, how will the general public be convinced to trust cryptos? There is also lots of fragmentation (many different coins and exchanges with different values). Large financial institutions and companies (e.g. JPM Chase, Facebook) are issuing their own, defeating the very ethos of "decentralized", since it just means that large companies will own the very thing that's supposed to be ownerless.

Trading in cryptos, like any other speculation, should be done by those who are fully aware of the risk. I can't in good faith advice somebody who's saving for their house, retirement, or children's education to put their money into crypto. It really has no inherent value, and since there's no government that pledges to defend it, it will continue to suffer from swings. There are those who make money from trading it, but that's little comfort to somebody who needs to be sure that the #4M they put in it last month will still be there at year's end.

kirkwood:
Cryptocurrencies that other countries have adopted and approved. Nigeria is so backward as Bleep.