₦airaland Forum

Akakanfirstclass:
mehhnn!......

A fool is in a haste to talk...
talking his/her life into danger..

wisdom is profitable

Exactly. This tells of how wise we are in Nigeria in the face of daily oppression from govt

Tobex4realTobex234:
Blood everywhere. I hope it dips further today so I can load more on good stocks.

Provided yields keep gping up (which they would do unless the Fed steps in), stocks would continue plummeting. Even reopening stocks would not be spared.

With interet rates going high, the pressure to sell will be high

lavylilly:
What the minimum amount one can use to invest in the bolded

REITs are traded like shares. You can confirm from your broker

ojesymsym:
100%.

The truth is that, most of the wealth Africans want to acquire is mostly to showoff and oppress the people around us.

The reason we dont have generational companies ala generatuonal wealth. One man's simple investment and savings principles taught to his kids can impact his unborn generations.

ojesymsym:
The Japnese are one of the most hardworking people on earth bros, as a matter of fact, their children are usually groomed to take over their businesses. Their kids start working at around age 16.

See Otedola children all turn DJ, na that one u wan take compare Japan.

Exactly what I'm saying. Despite the wealth they (japanese) always instil the principles in their children. Why can't we replicate the same in our kids instead of thinking that they would be unprodutive and docile? It is the failure of the parents, poor work ethic and a culture of show-off that is affecting us

ojesymsym:
lol.... U de craze I swear, which kind answer be dis?

U know what, I kind of agree to a certain extent to your philosophy that u can't hustle all your hustle just for the sake of your off springs to the extent you do not even enjoy life for yourself. Work non de finish, they themselves must hustle for themself albeit they will not be starting from the very bottom.

I just came across this post below almost at same time as your post and it explains what can happen when your kids where parents have done all the work for you can become, Too much time on your hands, many of which will not be used for productive use,

If the Japanese decided to let their children hustke from the scratch, i wonder if we would know abouy the Toyotas and Suzukis. Build generational wealth, also instil generational principles in your kids. Principles and ideas also have compound interest.

SeaTrade:
Well,I'm not a good man.

Lol. I guess that settles it

SeaTrade:
You people and generational wealth ehn.
There is no formula to build wealth,rather riches.
It comes by chance and opportunity.
It is possible for a hardworking Guy or lady to own 100m naira in his/her lifetime,but can you give me a workable strategy to being a billionaire in your lifetime?
A workable one please and not some fantasy BS.
When I'm 40,i will buy a brand new S class and start balling so hard ,vacations,etc...
If my children like,make them no work hard,make them dey look for who go build generational wealth for them lol.
I pity them in advance.

Proverbs 13:22: “A good man leaves an inheritance to his children's children.”

emmanuelewumi:
In elementary science we were taught the state of matter.

They can be in gaseous form, liquid form and solid form.

Money in your pocket or ATM linked bank account are in gaseous form, money in fixed deposit, Treasury Bill, business and money market are in liquid form, money that are well invested in income generating assets or Investments are in solid form.


Gases evaporates easily, when liquid reaches it boiling point it can also turn to gases or vapour.

It is important to know how to allocate money into the various states, that is gaseous forms, liquid forms and solid forms

Fleah and blood did not reveal this to you.

Money is energy and can exist in different forms.

we earn compound intetesr on money, but compound interest also applies to our thoughts and actions

lavylilly:
They sighted regulation reasons.

Such as? That's what I would want to know.

emmanuelike:
Got an email, something about regulatory reason

they kicked you out or did not acceot you? if they kicked you out you must have done something.

emmanuelewumi:
Because it is not easy to get a guarantee from them or their employer as per payment.

Hmm. But jobs are not guaranteed in Nigeria. Yet, when you have one you may be owed for months

J

Lazyyouth4u:
I had to go on the internet to look for this and I’m sorry, what you have written up there is not true. Chamath is being investigated for misleading investors on a SPAC transaction. Not his buying or selling of bitc0ins.

And SEC will not allow a bitc0in ETF because it doesn’t want members of the public to invest in shares of these ETFs that track bitc0ins that it does not regulate.

Until SEC outrightly bans/restricts the holding of bitc0ins by listed companies, it will not go after a company that buys or sells these crypto currencies provided this has been disclosed to the SEC and members of the public.

Basically, the SEC’s role is to ensure full disclosure. If a company is involved in a high risk business venture and discloses this to SEC and it’s prospective shareholders, and prospective shareholders still go ahead to invest, it’s on the investors if the business fails. SEC cannot go after the business that fully disclosed the high risk nature of its business. This also applies to companies (like Tesla) investing in bitc0ins and other crypto currencies.

I concur

https://www.cnbc.com/2021/01/27/chamath-palihapitiya-closes-gamestop-position-but-defends-individual-investors-right-to.html

https://www.google.com/url?q=https://www.businessinsider.com/bitcoin-etf-could-finally-become-a-reality-in-2021-after-vaneck-filing-2020-12&sa=U&ved=2ahUKEwipgOOSnu7uAhUwUhUIHWxsB-AQFnoECAgQAg&usg=AOvVaw36mUI3oV5EFjD_E8WJGFqG

https://www.google.com/url?q=https://www.ft.com/content/9f2c1303-678e-486e-b3f1-d4f234f85f47&sa=U&ved=2ahUKEwipgOOSnu7uAhUwUhUIHWxsB-AQFjALegQIAxAB&usg=AOvVaw3regB_GqfhuOxguInWvPlA

SteveOfu:
In this market, to don't just wave a stockal aside just like that

Thats why you conduct analysis. If after DD, your analysis says wave, abeg wave am.

I'm more of a fundamental and long term investor thats why i woukdnt recommend AMC. A day trader wpuld definetely see opportunities for profit

Lazyyouth4u:
What assumptions? I just asked you simple questions.

Sorry sir, all that you are writing have absolutely nothing to do with Tesla’s purchase of bitc0ins. SEC does not regulate bitc0ins.

Me thinks you are just trying to show off with all that Chamath, GameStop, Barstool, Kramer, Walstreetbets ish wey you dey drop

SEC reglates financial transactions to maintain a transoarent and level playing ground. Bitcoins fall under. For years investiment firms like fidelity and blackrock have been filing for a bitcoin ETF with SEC, but have been refused.

Chamath was accused of pumping bitcoin, but to evade investigation he had to sell and give the money to charity which he publicly declared. Please stop arguing blindly. If you think anyone is trying to show off, its on you. We are all here to learn and better ourselves

EarlyCareer:
True.

Some people are still hoping for another short squeeze. Mostly folks that missed the last one. GME seems better as they look like they are pivoting their business model from what I have read so far.

There are better stocks in the market than both of them.

Another short squeeze? Isn't that strategy exhausted?

Lazyyouth4u:
Why would SEC pounce on him?

How is Tesla’s purchase and sale of bitc0ins related to the Gamestop saga?

Stop making assumptions. You cant go on air and pump stocks and then sell. SEC would roast your ass. Jim Cramer was formerly a hedge dund manager. He has been banned from trading for.live for pumping stocks. Even SEC is now investigating r/WallStreetBets to see if there was manipulation by hedge funds posing as retail traders.

SteveOfu:
AMC. The float is getting smaller. Retail is having trouble buying stocks. Things are looking up. Buy low, it’s a super discounted stock to begin with. I don’t think this fire sale will last much longer.

Forget the hype. AMC is not a good stock to trade right now. They narrowly escaped brankruptcy due to the intervention of capital from private investors

Karleb:
When you say stock market will crash, are you referring to a particular stock or the whole of stock market?

People have been predicting a crash in the last 10 years.
News flash: we are in the longest bull market.

Lazyyouth4u:
Ah okay. I just see say the board approved it since.

The guy na very sharp guy. All the promo wey he dey do na for the price to go up some more so that he go cash out sharply o

He can't do that outrightly. SEC would pounce on him. Chamath that pumped Gamestop had to sell and give the proceeds to Barstool to avoid SEC investigation.

ositadima1:
It is not being proposed, it is done already. Na him shoot up bitcoin. As it be now, anything Tesla or Elon touch must go up. Him carry better jaz.

He just used from Tesla's cash reserves. He is also acquring gold. Wonder why people just focus on crypto

ichidodo:
[color=#1980BC]In the olden days it was Gold,Silver or other metal because you could use them intrinsically (to make jewelry, tools or weapons)without trading...whole empires arose even wars fought just for their control,regulation and accumulation,after which, you had commodities eg Salt, Cowries,Whale teeth,Slaves etc because they were very useful by themselves without any packaging and highly sought after...Now we have Fiat money backed by Governments who control vast resources of human capital and commodities...That is what money is all about...But Bitcoin or cryptocurrency is against the spirit of what has been the tradition of trading and economics for thousands of years...I believe cryptocurrency is anti-money, Maybe in the days of 3150 when technology allows us to explore distant galaxies making use of anti-energy,anti-matter etc then there will be no such thing as money..but Anti-money.. ..[/color]

Which brings us to the question? What is money if not a measurment of money. So why cant bitcoin reolace it. Provides people gave something to measure value, trade continues. I dont think bitcoin is anti-money because its value is still expresses in monetary terms

leokid866:
lol the world moved from gold because there was not enough gold to substantiate the growth of the economy.....even today more gold is traded than there is actual mined gold.....the US and other countries would have been bankrupt a long time ago if they kept their currency pinned to gold.....part of the things holding up bitcoin today is that its limited, which makes it easy to speculate it's price......which is why people have been patronizing other crypto that are not as strong......but what happens when the demand grows too strong for the supply?.......look go do what you want with your money......just don't come online to cry that noone warned you when things turn sour

Since you are kay witb people trading paper contracts for commodities and printing money not backed by gold, its alright. Dont worry about me. Worry about yourself

leokid866:
yes people are taking bitcoin as payment but worldwide what percentage of goods and services are been traded with bitcoin? do you think it's up to 1%? regions with cleaner energy.....lol.....what I know of is one guy in Canada that built his grid over a guiser and using the heat to generate electricity......and it still cost over $20k monthly to maintain it.....the thing generates so much heat he has to power it down for hours just to do maintenance work.....however you want to run it, you can't escape the power costs.....and if anyone has been collecting money from you to mine bitcoin just know now they have been running you street.

It costs about $8k to mine one BTC. Thats why suppky would be reduces hence incrasing the unit price. Hiw long did it take the world to change from gold and barter to paper money? This things happen in stages. Less than 1%, but the numbers are racking up.

ichidodo:
[color=#1980BC]Bitcoin or cryptocurrency is an innovation alright but a dangerous innovation that can bring down Economies and Governments because it goes against the soul and spirit of what money as a medium of exchange is all about, besides tis not all innovations you accept... Affiliate Marketing is a good innovation and so is Ponzi Scheme??..[/color]

Economies and governments are social institutions. They would always evolve to meet the present needs of society. There was once a monarchical and feudal class. We were once trading with barter system. Im sure when paper money and capitalism was introduced they were severly opposed. But here we are.

Another change is brewing on the horizon, do you want to be on the wrong side of history? The market decides what is valuable and how to allocate resources to that value. The present market is calling for a decntarlized financial system. The only reason why central banks are banning is because it strips them of their authority, plus they have not figured out how to regulate and profit from crypto transactions.

Kobicove:
The recent onslaught against crypto is probably because it has become obvious that the recent increases in price of crypto is mainly due to manipulation and not market fundamentals

Since when did CBN start bothering about manipulation. Fraudluent organkzations like MBA Forex and the likes were there, they did not ban them. If you are talking about manipulation, go to the stock market. Do you know the amount of trading bases on inside information that goes on in the NSE? The only reasin why central banks are banning it is because they want a piece of the action. They are still trying to figure a way to regulate it.

ichidodo:
[color=#1980BC] Yeah.. But what about Main street?..American economy isn't all about Wall street..The resuscitation of Wall Street after the Crash was and still borne by the taxpayers..I.E Main Street..What's the use of a strong bull run in Wall Street when the Budget deficits is running into Trillions....We haven't settled that one and you are bringing the poisonous snake of cryptocurrency..Smart Nations like India don't have time for that, they simply cut the head off, no time.[/color]

I get point. First, the US would continue having deficit because their cash is not backed by gold. All they need to do is raise the debt ceiling and keep printing. Secondly, the stock market has always been divorced (or ahead) from the real economy. Thats why deapite the exonomic receaaion in the pandemic, the market was doing well. Also Wall Street has even be more reluctant than main street in accepting cryptos. Retailers (main street) see this as a way at getting back at institutionalized finance and xontrolling their finance. Finally, ezpecting central banks to warm up to cryto is like expecting a lagos cab driver to like uber or cinema operator to like netflix. These new innovations threaten their very existence. So why should u accept the opinion of central bankers when they are inherently biased in the first place?

JP Morgan warned its investment mangers not to discuss cryptos with clients in 2016

leokid866:
Okay someone has definitely been lying to you because anyone with a good enough system can mine bitcoin, I know cause I have friends who have done it but stopped in 2018 when the cost of mining became too much against its value. ......waste energy? TF is that? bitcoin mining consumes serious electricity, and produces enough carbon to be considered a threat to the environment......as for remittances and capital gains all you are doing is moving money around using bitcoin as your medium....you can't actually use it to pay for a lot of goods and services worldwide because its value is speculative and not backed by any formal government......if you want to test it take your bitcoin to Iyabasira and see if she will attend to you.....if Iyabasira is too local take it to Dufil and see how much Indomie they will give you.

Anyine with good enough system? Lol. Abegi. Miners are moving to regions with clearner energy to reduce electricity costs. Miners are pooling infrastuture tigether to reduce overhead mining costs. Incase you dont know, there are bitcoin atms and cards, plus people are even getting paid for services in bitcoin.

SmartPolician:
Stop making senseless arguments.

Every dollar note printed today is documented because they are printed in batches. Perhaps you should ask yourself why criminals burgle commercial banks but not the central/reserved bank.

On the other hand, tech companies mine and sell Bitcoins, not minding the criminal records of these buyers. I have a Bitcoin wallet and the man who sent me the cryptos doesn't know my identity, neither does the company that maintains my wallet. For every bank account one maintains today, banks know their home addresses, phone number, next of kin, and other personal details.

In the US and elsewhere in the world, they have the fiat-currency financial records of every soul living in the country. With Bitcoin, it's not like that because the government neither produces it nor has control over it.

PS: I am done replying you.

Go and read. Every BTC transaction is traceable. Not all Dollar bills (especially Benjamins) can be traced. Thats why that denimination is the most prefrred. The Sinoloa Cartel and other drug cartels, why didnt they keep their money in mexican pesos? I am pretty sure if you lived during the formation if Bretton Woods you would reject the change from gold to paper currency.

ichidodo:
[color=#1980BC] Even the stock market crash of 2008, America never mind the world have not fully recovered from it...Now, you want to add the one of cryptocurrency?..Some Nations like India and Nigeria have decided to be proactive and do the needful.. Because a stitch in time saves nine..[/color]

We must be in diffrent planets. The US has long recovered from the crash of 2008 and is in its longest running bull market right now

leokid866:
Have sense please.....the stock market value is based on the value of a company's product, service and activities.....crypto is a free float digital currency that is based on nothing but speculation.......when you have a currency like crypto been used and traded within your borders all you are doing is putting strain on your legal tender.....and for a country like Nigeria or India with a massive population......if crypto gets to big it will practically devalue their currency......please pick up a book and learn to understand how currencies are valued.

Cryptos are mined using waste energy. Its not free float else we all would be mining in our backyards. If you say cryptos would put strain on the naira then what about remmittances gotten through cryptos? Or capital gains when people liquidate their cryptos? Tell CBN to stop chasing shadows and go for substance. If the naira was not free falling people would not want to buy and store money in cryptos. Since 2017 (the last BTC crash), till now by how many percent has Naira lost its value?