₦airaland Forum

These mentions are becoming too much here, please who would like to buy my nairaland account, I'm not doing again.

Nice. Nigeria is finally joining the 21st century, this is a welcomed news. Ladies and gentlemen, we are heading to The Moon.

wamiikechukwu:
There is this thing that's been bothering me since concerning bitcoin and i want to ask it today.

Why is it that bitcoin address always changes when ever you do a transaction and if i use my old bitcoin while it has change will the bitcoin still enter into it

I know it sounds funny.

Your bitcoin address changes as a measure to protect you, after all the whole purpose of bitcoin is to maintain an anonymous profile hidden from peering eyes. Previously, anyone could look up the bitcoin balance and transactions that occurred in a single wallet address simply by typing that wallet address in the blockchain. By generating new addresses, it makes it difficult for anyone to view all your transaction history as every new address comes with a blank slate. To your other question, you can still give out your old address to your sender, and the bitcoin will arrive in your wallet regardless.

By the way, my name is Bitcoin. I have decided to pay a visit to every thread where my name is mentioned. Got 800 more to go.

Every corner corner way doesn't last and the end doesn't always justify the means. This isn't to say you are doing anything illegal per se and if you are, you have a better chance of getting away with it in Nigeria but your contacts in the U.S are definitely taking chances with the law here.
They are indirectly running their own remittance business without the legal licenses from FinCEN, SEC, IRS and co all in the name of making $15 per $1000. I'm not sure about the tax laws in China but the tax laws in the U.S are very strict and it's not something to joke with. If the tax laws in China are any good, that your Alieexpress Chinese seller will be forced to pay sales tax on all transactions every 4 months. So in essence, all that money you were sending him via fake alieexpress purchases will be reviewed as total sales and he will pay a hefty tax on it, so what sense does it make? If the scale of these transactions were really astronomical, it will result in a higher tax bracket which will be a huge loss for him.

There are reasons why financial institutions have licenses and employ that Know-Your-Customer rule whereby every customer must present with state issued government ID'S and other proofs of identity upon opening an account. These rules are placed to prevent money laundering which can result in the sponsorship of terrorism and other illegal activities. I'm particularly worried about those your American contacts because I can bet you the government is watching them from the shadows... they will think they are evading tax or money laundering (boko haram, hello).

I commend your entrepreneurial spirit, however I will advise you never to bend your morals for profit (like you did with your customization business). Like you, I like to try new things; I bought bitcoins in 2009 for less than $1 each then sold them in 2013 for $1085 each, this was pure luck and nothing else cos I actually bought and forgot about them. I'm now in the process of starting a Bitcoin Remittance Business which will allow people to send any amount of money anywhere in the world for pennies. You can view my only topic on Nairaland about this venture and i'm obtaining the required licences both in Nigeria and the U.S where I will have my company. It's been over a year now and by March of this year, if everything goes smoothly, we will be live and ready. Nothing stops me from running this company without the high legal fees and time required but I like to sleep on my bed with peace of mind, not worrying about the FBI knocking on my door.

Sometimes, making money in unconventional ways may cost you your freedom and 10X the money you made. Be wise.

gowaga68:
How far have this ventures gone?
I've always had the dream on going into Bitcoin some years ago even had a wallet but couldn't fund nor mine so had no option than to quite.
Hoping to hear how far you've gone.

We are still in the legal phase of this venture. We shall be going live early 2016 and we stand to benefit immensely from the recent restrictions placed by the CBN in regards to withdrawing dollars or making POS purchases via foreign eCommerce sites. Our platform will also make it easier and cheaper for those remitting money to and from Nigeria for business, school fees, medical payments and other transactions.

The beauty of bitcoin is the very fact that it operates irregardless of what the world's central banks choose to do. Central banks dictate how you can spend your money, they mismanage the economy which results in unprecedented inflation rates. Imagine you have N100,000 in the bank but that money is worth 50% less now due to a 100% inflation rate. In other words, that money doesn't have the buying power it did early 2014. So many economies around the world have been hit with very high inflation rates particularly countries dependent on Oil, ex Nigeria, Russia, Venezuela, Iraq and Saudi Arabia.

With our Bitcoin Remittance Gateway, we can circumvent these silly restrictions for literally 50% less fees than the usual Western Union, Money Gram, Wire Transfers and PayPal fees. I never gave up on my vision, the interests has been so high lately and we stand to sail these waves.

chinosxl:
MR. AYO SMITH, I'M NOT SURE IF YOU ARE AWARE OF WHAT HAPPENED TO MY AUG 3RD SHIPMENT. THAT SHIPMENT WENT FROM LIGHT SCREENING TO 100% SCREENING DUE TO MULTIPLE FAKE PURCHASE RECEIPTS FROM CUSTOMERS. YOUR PACKAGE DELIVERED TO MY OFFICE VIA OVERNIGHT DELIVERY WHICH MADE ME MARK IT AS SUSPICIOUS PACKAGE AND I REQUESTED YOU EMAIL ME A PURCHASE RECEIPT WHICH YOU DID BUT YOUR PURCHASE RECEIPT WAS OBVIOUSLY FAKE, A COPY AND PASTE ON MICROSOFT WORDS RECEIPT AND COMPANY NAME YOU USED ON IT DON'T EVEN EXIST. I OPENED YOUR PACKAGE TO VERIFY CONTENT BASED ON YOUR FAKE RECEIPT BUT FOUND ANOTHER RECEIPT COMPLETELY DIFFERENT FROM WHAT YOU EMAILED ME. I'M NOT SURE IF ANY NAIRALAND USERS HAVE ALREADY STATED ON THIS THREAD, CUSTOMERS THAT PRESENTED FAKE PURCHASE RECEIPTS DURING AUG 3RD SHIPMENT SCREENING NEVER GOT THEIR PACKAGE RELEASED BY U.S CUSTOMS. INVESTIGATING POSSIBLE FRAUDULENT PACKAGES IS COSTING ME A LOT OF TIME I DON'T HAVE SO, I JUST FORWARD THEM TO U.S CUSTOMS/FBI TO DO THE INVESTIGATION.

Keep exposing these fuccking bunch of scammers. Pathetic scums of the earth. The idiot even has the guts to come here to complain, even his surname "smith" has scam written all over it. These are the same unrepentant bastards who price my goods on criagslist then send me fake paypal emails indicating payment and asking me to ship my goods. You and other forwarding services on nairaland should set up a sting to arrest these crooks when they come to pick up their ill gotten goods at your office, this should send a clear message.
I've collaborated with the FBI, NYPD, DHS and the local Nigerian police in nabbing and arresting these crooks. Currently working with a popular ABC TV show to set up undercover stings to nab these rats and shame them on national TV. Obviously your Know Your Customer requirements aren't tough enough; I know you need the money but if this continues its only a matter of time before the FBI shut you out of business or charge you for fraud.

Beware of scammers. Be wise.

Maybe they are on a diet.

What a pathetic bunch of whinning clowns. If the guy doesn't want to give u guys update, why the hell are u patronizing him?? To each his own, if u choose to stand by him despite the lack of information, that's your own cup of tea. Why the hell are grown men who are supposedly business men coming here to whine like little sissies? Like what the hell is this, 1988 when the internet just came out? A simple search online and and u can find shippers who are cheaper than this guy and many of the others here charging silly commissions. Most of them use shipping companies u can use yourselves for as little as $4/ pound without any silly commissions or limits to weight.

Now to my other point, may God punish all you scammers and internet fraudsters who would rather defraud someone than ever work for anything in your lives, I swear I will make sure I continue to expose u and have u arrested like I've done many many times. You see, I sell lots of things in the U.S via Craigslist, amazon and Ebay. Every single day (not exaggerating here) I get texts from idiots using fake american phone numbers enquiring about my listed items especially laptops. They always tell me they want to buy my items as a gift for their son but they are out of the country for missionary assignment. They always propose to pay via Paypal and always offer more than the listed price for the item. Of course they never intend to pay for anything, instead they will send me a spoof/fake paypal email claiming to have deposited money into my PayPal account, but when I check PayPal, there are no deposits. I'm sure many people fall for these stupid scams. It's ironic cuz the addresses these scammers provide are usually those of shipping coys on nairaland like cargoatlantic and others. I think this chinox is going through something similar, perhaps these crooks have used his services to ship proceeds from their scams and now the FBI is investigating his business.
Quit whinning like little sissies, some of your brought this whole mess upon yourselves anyway. Don't even bother mentioning my name, I get several Bitcoin mentions.

Nigerian artistes behaving like little spoiled brats

Darwinism at work, selection of the fittest. Getting rid of the weakest link.

Oh here we go again with all the bitcoin miracle workers on Nairaland either promising to make you rich or give u free bitcoins. They never exactly tell you how they plan to do this, but will ask u for your email address.
Don't be gullible people, the only proven way to make money with bitcoins is to buy and hold. Don't be taken for a ride by these Nairalanders trying to take people for a ride. Treat bitcoin as if it is a currency and pls only invest in what you can afford to lose.
Educate yourselves and learn everything u need to know about bitcoins here www.weusecoins.com

kossyablaze:
Yes

Oh that's good

nairamaverick:
LTE? which network is that ?

Hehehe, Verizon Wireless

kossyablaze:
Damn!which phone is dah?I'm using s5 buh scared to update to lollipop cuz I heard it has bugs.

My humble S4, I refuse to upgrade until 2020. I think it depends on your network provider, is 4G LTE now in Naija?

kossyablaze:
LTE?is dat 4G?

Yes, 4G LTE

I think Zidane should be number 1 on this list only because he head-butted an opponent during the 2006 World Cup final of which he was sent off and it cost France the championship. This was supposed to be his last football appearance before retiring.

We all know that Western Union, Money gram and other remittance businesses make hundreds of billions of dollars every year in fees just to send money to people all around the world. Bitcoin and other crypto currencies will not replace these known companies anytime soon, but it can challenge them and only needs a small slice of their pie to thrive. With Bitcoin I can send money to anyone anywhere in the world virtually instantaneously for as little as 1cent. For example I can send $100 to someone in lagos for just 1cent and it will arrive in a matter of minutes whereas if I were to send $100 via western union, I could be charged $12 or more plus you might have to wait until the next day or so to receive it.

Western union and others have to make money to pay their staff, plus rent and other bank fees. With bitcoin all you need is a phone, laptop, computer, tablet or any device with internet access to send or receive money. Since this is a business idea, there has to be some profit to be made. Ex, if someone wants to send $100 to Nigeria, we can charge the person $6. When the bitcoin appears into the person's wallet, he or she would've to convert bitcoin to naira that's why we would charge the $6.

The potential doesn't just end there. How many of you have tried to buy goods online while paying through paypal? Do you know that Paypal charges its merchants up to 5% of every sale they make? 5% of a $1000 purchase is about $50, thats money the merchants can include as discounts but instead they have to jack up their prices to cover the transaction fees. Visa, Mastercard, Discovery, American Express and just about every payment portal charges some percentage fee, thats how they stay in business, meanwhile its virtualy free to transact with bitcoins.

I'm looking for folks already familiar with bitcoin and willing to set up a remittance business based on bitcoin/crypto currency. Venture capitalists, financial advisors, bitcoin enthusiasts, speculators, and entrepreneurs are highly invited in this business opportunity. Kindly post any suggestions, ideas or requests here. If you are not familiar with bitcoin you can start here www.weusecoins.com

Western union and other remittance companies make about $550 Billion every year in revenues helping people transfer money. With bitcoin you can send money instantly without any withdrawal limitations, no government oversight and it is absolutely free. I'm still looking for folks who are interested in setting up a Bitcoin remittance business in Nigeria, we can charge 25-50% of the competition and still turn a profit.

@Lawyer Thanks for always educating us, sometimes I just want to patronize your services simply because you've been of a huge resource for us all.

I gave my baby 20 bitcoins on valentine's day 2012 just because I wanted to introduce her to virtual currencies. It was very cheap then, today one bitcoin is worth over $630 a piece....

20 bitcoins on February 14th 2013