NigerianEagle:

Stop putting unnecessary pressure on the Naira by rushing to Binanc and other crypto exchanges to convert your money to USDT which is not even a legal tender in any country of the world!

Realmrsean:
so the naira and the dollar that is printed in multiple folds out of thin air is not a scam but its usdt that ia a scam?

omoadeleye:



Be careful with your hard earned money.

That was how usdc crashed and people lost their life savings.

Crypto is just like a Ponzi.

faceland:


Sad.. the point is, do not mistake it for real dollars. It's value depends on millions of mugus that most think it is USD. In the age of mass media, their illustration could be cured at once (just like SBF & Celsius exchange crash when people asked for their money at once).

Realmrsean:
so the naira and the dollar that is printed in multiple folds out of thin air is not a scam but its usdt that ia a scam?

hayoholla:


At the expenseof your own country's currency? Because that is what guys from Nigeria are doing on Binance and other crypto site. Fine you maybe making gains from it, but hedging it against your country's currency is ignorance and a recipe for economic disaster. Imagine the effect it has on the production and manufacturing sector of the country that produce real and tangible goods and services.

Judithjovial:
OK, be there and be capping shit. We don't need everyone to believe and understand crypto we just keep making our USDT gains 247

dvkot:
its a stablecoin that is ALLEGEDLY pegged to USD it's not USD, no one said it is (but it was intentionally named that way to fool the elderly).
People will still switch to btc or eth if there no usdt don't be naive. The world is changing with innovative ways to confuse and dupe people, stop thinking like a rock

SenecaTheYonger:


Please which company did you use it to purchase something from. Let me check. Some company accept BTC but never seen USDT.

SenecaTheYonger:
if you type ‘what does USDT stand for’ in Google you will never see United States Dollar Tether. So now tell me how a token which is printed from thin air, which you cannot buy oil with, you can’t sell oil and accept USDT as payment. You can’t pay hospital bills abroad, you can’t pay schools fees, you cannot export anything of relevance and collect USDT as payment. But somehow this is supposed to be competing with actual USD that we get from oil export and other trading of goods and services, etc.

USDT has no value outside of being a hedge for crypto coins to avoid the volatility typical of cryptocurrencies while holding funds within the crypto system. It has no real world use. But somehow, we use it as exchange rate for real actual dollars gotten from trading goods and services.

SenecaTheYonger:


No one is saying USDT is a scam but USDT is not USD. Go and check their site. It’s simply called Tether. And they will never admit that the USD in USDT means United States Dollar, because it is not dollar. To base our country’s exchange rate on something that’s not even a real money is crazy.

didymario7:


USDT is becoming very popular in online payment. I use it all the time.

pipnator00:


See the bolded but I can pay for flight tickets and hotel to NIGERIA with it. If you doubt, type "pay for flight to Nigeria with crypto" into google search and see what it gets you.

SenecaTheYonger:


For something to be valuable, it should have a use. What is the use of USDT outside crypto trading. Compare it with the use of actual USD (oil, exportation, loan, medical, tourism, etc.)

I don’t have any problem with USDT but it should not be used as exchange rate for Nigeria’s economy.

USDT can actually be used to buy something among the population that accepts it. What concerns an average pepper seller that cannot operate phone with cryptocurrency. Just as online transfer was impossible in the past but not anymore, cryptocurrency will evolve into something great soon. I don't see the relationship between Nigeria economic problem and cryptocurrency. If they like ban cryptocurrency in the world it will not solve anything. The current problem was caused primarily with increase in fuel. Fuel price increase will increase transport fare which in turn will increase the cost of everything. Government should be careful in increasing the cost of things that will destroy the economy. Such as
1. Petrol
2. Electricity
3. Multiple taxations, etc
All these things are anti business. They should try to make doing business easy. Good road network will help businesses a lot. Petrol, electricity, multiple taxations should be abolished. I'm sure that food is available but they increase the suffering of the people by sending security operatives to seize food. This will cause artificial scarcity. It's wrong to arrest people that hoard food as you did not help them to buy those food but you can use policies to discourage hoarding. I am surprised that the people around Mr. President seemed not to have solution to our problem. I might not be an economist but these principles are well known. NO FOREIGN INVESTOR will invest blindly in Nigeria. Foreign investors have primary duty with his country. It's time for FG to look within. Another big disease affecting Nigeria as a flu is tribalism. Because of some people are from a particular tribe they're not allowed to work to their potential. For instance, if I know that I am supposed to be the director but because of my tribe was denied that opportunity I will only restrict myself to normal office routine but if I was given what I deserved I will work with my heart. It will not be normal office routine. All these things tend to affect us negatively. However power is terrible in the hands of people that are not mature enough to handle it. They end up using force for everything. You don't need force. You can make the people work for you without applying force.

USDT is printed by a random company called Tether, same way you can print meme coins in BNB chain, by imputing a bunch of values and boom. Not saying USDT is from BNB network. It’s from Tether.

But the USD is printed by the United States Department of Treasury and is backed by the US government and military.

Procashtips:


Because BTC came first

You can always change your USDT to BTC, just that USDT is more stable price wise unlike BTC.

SenecaTheYonger:


For something to be valuable, it should have a use. What is the use of USDT outside crypto trading. Compare it with the use of actual USD (oil, exportation, loan, medical, tourism, etc.)

I don’t have any problem with USDT but it should not be used as exchange rate for Nigeria’s economy.

USDT is printed by a random company called Tether, same way you can print meme coins in BNB chain, by imputing a bunch of values and boom. Not saying USDT is from BNB network. It’s from Tether.

But the USD is printed by the United States Department of Treasury and is backed by the US government and military.

cmikel:



You must be in the world of 19th century, go to BlackRock in US and other companies alike and see the billion dollar worth of investment whales inverst in purchase of tethra USDT trading in Blockchain and crypto tokens





.

SenecaTheYonger:


Mention these sites

SenecaTheYonger:


For something to be valuable, it should have a use. What is the use of USDT outside crypto trading. Compare it with the use of actual USD (oil, exportation, loan, medical, tourism, etc.)

I don’t have any problem with USDT but it should not be used as exchange rate for Nigeria’s economy.

USDT is printed by a random company called Tether, same way you can print meme coins in BNB chain, by imputing a bunch of values and boom. Not saying USDT is from BNB network. It’s from Tether.

But the USD is printed by the United States Department of Treasury and is backed by the US government and military.

SenecaTheYonger:


For something to be valuable, it should have a use. What is the use of USDT outside crypto trading. Compare it with the use of actual USD (oil, exportation, loan, medical, tourism, etc.)

I don’t have any problem with USDT but it should not be used as exchange rate for Nigeria’s economy.

USDT is printed by a random company called Tether, same way you can print meme coins in BNB chain, by imputing a bunch of values and boom. Not saying USDT is from BNB network. It’s from Tether.

But the USD is printed by the United States Department of Treasury and is backed by the US government and military.

dappydozzy:



Interesting, what concern the US military about the US dollar, Is the military a fiscal or monetary authority in the US ?Oversabi. Is the US dollar really backed by value ? You need to learn more about the global financial system. The USD is not printed by the US Department of Treasury, but by the US Federal Reserve through its subsidiary, the US Bureau of Engraving.

CuriousX:


You are naive. So as our naira cards are not working to make payments online, you expect people not to use crypto for payment? You have a website and your hosting and domain renewal is due and naira cards are not working to allow you make payments to keep your website and business online, what do you do? You buy crypto and make the payments simple!

Buhari printed 24trillion naira ways and means with out approval causing inflation but you are here trying to make me feel guilty for trying to survive but you are not blaming the politicians who loot billions of dollars and did stuff that put us in this mess. Stop the gaslighting

rottennaija:


Can you use btc to buy oil, exportation, loan, medical, tourism?

SenecaTheYonger:


Most reputable companies don’t accept internet money. And most countries don’t peg their local currency to internet money

Bluearrow:
Smh
All these govt agents sef
Instead of advising your president to work on the economy, u are talking about usdt. Other countries like Ghana & south Africa, why are their currency not falling because of usdt? I pity una