₦airaland Forum

Admins, please can we have our email addresses hidden? Privacy concerns. Spammers are always on the look out for threads like this.

Thanks

Institution: University of Ibadan
Level: 500L
Course: Electrical/Electronic Engineering

CruzJoe stated his view as if it was an automatic process that Bitcoin would appreciate. You were part of the few that enjoyed the exponential growth of Bitcoin which would NEVER happen again in the next few years. Try and understand the theory of demand and supply. NO Bitcoin investment is guaranteed 40% return. In fact, none of this investment ensures guaranteed return. Rule number one of any investment says that: 'Never invest in a business where your principal is not safe'. Your principal is not safe trading Bitcoin. Your so called website are not officially recognized/verified and what happens if they ceases to pay you. Who do you complain to?

Leopantro uploaded a picture that didn't convey full details - just series of random merchants offering varying price.

I'm just a wise investor... You don't invest with an unstable currency

Leopantro:
you limited your study to just one merchant who is ripping you off.
i belong to groups who keep the price to buy or sell bitcoin stable.
seriously, you sell to the guy at N335?!!!

right now people are selling at 390 , buying at 385

Can you honestly point at one Merchant that offers that price?

Do your findings properly sir

The birth of Cryptocurrency is no doubt a milestone achievement in the Financial Market. Many people all over the world have invested a chunk of their life savings into it with the hope of a greener pasture at an exponential rate. How true is this?

Taking Nigeria as a case study, investing in Cryptocurrency is not as rosy as many people think. Let me explain better with an example so you can fully grasp my point. Bitcoins are sourced in Nigeria through merchants. A lot of them (merchants) around today but one thing common to each and every one of them is that they buy and sell at fairly almost the same price. While compiling this article, the merchant I took as a case study buys at N335/$ and sells at N390/$.

Now, if you invest N50,000 to purchase Bitcoin through this merchant at 1Bitcoin = $13,500 for example, you will get 0.009496676BTC. i.e. 50,000/390/13,500. If the value of Bitcoin appreciates by 10% at the Global Market to $14,850, by the time you convert this amount to Naria through this merchant, you will get N47,243 i.e. 0.009496676*335*14,850. This means you have lost 5.5% of your investment even though Bitcoin appreciated by 10% at the Global Market.

Also, If Bitcoin appreciated by 20% i.e. 1BTC = $16,200, following the process above will translate to N51,538 in your local bank account with represents just 3% return on your investment.

With this in mind, to achieve 7% (Nigerian banks nominal threshold) interest on your investment, Bitcoin has to appreciate by 24.57% to $16,816.

In summary, before you can start earning at all trading Bitcoin in Nigeria, its value has to increase by at least 18% not to think of the risk associated with your investment. If 10% increase in the value of Bitcoin at the Global Market can’t guaranty a profit largely due to MERCHANT’S monopoly, think of what would happen if the price of Bitcoin drops – What the market is currently facing.

Never missed Experience while in Lagos. Now in IB and I still shuttle Lagos yearly for the programme. It is indeed an Experience. So sad I couldn't make this years'. Closely streaming!

Have your way Lord

More

It was a surprising and emotional moment today as a guy proposed to his fiancé immediately after Church service today.


She said YES

The good old days of nairaland

I seriously don't understand our foreign currency policy again. We keep reading news of how the Naira is catching up with Dollar in the market but today, I received the shocker of my life.

GTB charged me N420 per $ and I'm still furious. What happened to the N360-368 rally? Please I need answers or is there something I'm missing

cc: mind44, lalasticlala

Why should you still subscribe for SMS alerts when you have an internet enabled phone to access Nairaland?

I've been using email alerts for almost 5 years now and GTB has never charged me a dime.

Maradonna:
Hmmmn ! This is true...how come I never noticed?

Right now, i can only access 43 out of 63 stations, maybe cos my subscription will expire next week, but then, do we have consumer protection laws in this country?

I doubt if it's functional

I recently visited my cousins and I noticed that I couldn't access all the stations on their subscribed GOTV bouquet. He quickly replied that once it's a week close to the end of your subscription, they start removing some channels. I was really furious because that sounded really strange.

If we could use our hard earned money to pay for a month subscription, we should be able to enjoy that service without any restriction for that stipulated time.

I think it's high time we address this concern because to me, it's purely daylight robbery

Ok

The End is here

I just said it.... Yes!!! Go Hillary California Magic

California to give Clinton victory.... Whooping 55 electoral votes

California and Connecticut chilling like Buhari's Kano and Kaduna...
Go Hillary!

Latest results

Trump - 34,911 votes

Clinton - 13,581votes

[quote author=Annibiteye post=49206327][/quote]Go to your bank and collect your money then try again

Just left the admission building... The problem is from the merchant e-tranzact. Kindly go to your bank to request for refund, afterwards, try and pay again. It was a network issue.

For more complaint, kindly call the official admission line

08129732268

Same thing happened to me. I think it's general. Will go to the admission office tomorrow to make complaint

Our dear brothers won't like this.
Who ranting don epp?

Jessica - I'm lending you this money so you can lend him. If nobody decides to pay nobody, nobody gives a sh*t

Good job

I've tried as much as possible to respect the religion of these people. Wished it was mutual

I reserve my comment

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