₦airaland Forum

Hotice085:
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Understand a dumb question, you must be the God of stupidity

There's nothing you wrote that isn't obvious.

Nok , insimbidi doesn't answer anything.

Saying that the Sudanese and Ethiopians are the closest relatives of Egyptians is daft.

I was thinking you had common sense, I'm thinking in 3d , you're responding with regurgitated simpleton answers.

I thought you would clarify the genealogical & geographical links between groups, using dates to explain.

It's the smaller little details I'm interested in, not stupid internet fact's.

CodeTemplar:
Shut that thing. money inflow is suppose to have a corresponding outflow of goods and services to justify and accompany it. What are the services rendered or goods sold to justify 200m USD weekly remittance?

What did abacha sell to Switzerland that allowed him to move millions of dollars into swizz banks?

Think! You seriously believe in the efficient market theory , it will take another three thousand years for you people to wake up.

Hotice085:
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Not only hoping, you 4 wait 4 answers..... I blame seun for allowing NAIRALAND to a blog and not a forum

Brah you're dumb as a rock because you don't understand the depth of the question.

If you're frustrated go and jump off a cliff like your other yahoo brother's.

The only thing that matters in life is enlightened self interest.

The west aren't your friends nor have any stake in saving you, this goes to the African white loving coons.

Puppets and brainwashed fools will always be at the bottom of the barrel.

Hotice085:
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Never heard of the noks culture, Nsibidi scripts, IFA oracles and sculptures from ancient Benin.....must you be this Dumb?

I don't understand how this led to an insult, anyways thanks.

I was hoping for a more detailed response with regards to dates , contact and possibility of exchange of cultures between Egypt and sub Saharan Africa

Please what were we sub Saharan Africans doing during the Egyptian civilization?

Did they know we existed?

Looks like u lusted after the girl from the start.

Just chop your beatings like a man, apologize to ur Freind and never do it again.

As for your best friend, he needs to dump the bitch.

Just my little contribution since we have to become relationship expert's for the sake of u guys

Juliearth:
Its better you let her go, rather than keep the relationship and then distrust her.

Jeez ur comments are crap.

Dpharisee:
Must you Yorubas involve Igbos in everything, Ijebu Igbo, Igbomina, Igbo Illapa and now Igbo Baalu, very soon Fulani cattle herdsmen will be renamed Igbo cattle herdsmen AA's you can't seem not to do without Igbos haba Ogbeni.
Na joke o

Igbo means forest in Yoruba.

And another one, winning!

What would have happened to Africans if Hitler had won?

Any historians here to enlighten us

Emeraldgreene:
[Please what's leverage.is it a place,a hotel? Please teach me...pleasequote author=doxijaw post=98802632]Nigerians don't understand leverage.

Even if you're a prostitute use leverage, not to be exposing your body online for 2k or acting Indecency for 10k.

Leverage is king.

The number one rule of being a successful prostitute in Nigeria is not to be cheap.

Never participate in sex movies or Instagram nudity or anything that would put you in low class status.

You have to package your prostitution for high bidders

The old girl club Aristotle prostitution network understood this better, today's young girls are damn too stupid to make anything out of selling vagina.

The few who understand the trick will dine with kings and come out the other end as conglomerates .

jpmoriarti:
I wholeheartedly support this ban. Naira to USD is almost 500 naira. No one wants to make Nigeria work again. Everyone wants to cash out even though Nigeria burns.

This is incorrect, you don't need to buy dollars to trade crypto.

You buy ustd which can be used to exchange any crypto.

Deposits, account receivables is domiciled in Nigeria, withdrawal is in naira

Y'all need to watch this Fulani video

https://www.facebook.com/joseph.ejeasi/videos/421302395622191/

merits:

What's so funny, is it that you're not getting any or something.
Jeez i hate this new generation Nigeria, like seriously do something with your lives and stop this sex obsession

Nigerians don't understand leverage.

Even if you're a prostitute use leverage, not to be exposing your body online for 2k or acting Indecency for 10k.

Leverage is king.

Ffk is no simp, he understands women.

mrfreestuff:
No amount of attempts to confuse us will work sir.
You don't have the information as much as CBN and BuyCoin which quoted that last year, $200m bought with naira was being shipped out to foreign countries every month .That is N1.2T being tied down idly !!
Yet this number keeps growing because of insatiable greed while the rest of us keep paying the social cost.
If Ghana and others want to destroy their economy by hosting people who will be shipping their hard earned USD overseas, they can go ahead and host such economic sabotage.

These countries can't even provide the kind of huge demand of monthly USD demand and if they do, they will seize and trap those funds with one policy and datsall. By that time, please don't come and beg FG to intervene and prevail on those countries to allow you take out your funds for repatriation to Nigeria.

Provide evidence please, is the outflow related to crypto?

How is this possible when all deposits, transfers and withdrawals are done in naira using native banks.

Esseite:
Is the currency domiciled in native banks or CBN?.. its same process how you have access to your foreign bank accounts and can withdraw even outside the country.

How does it bring wealth when the funds are paid out without any income whatsoever to your source country where you might have raised the initial capital?

The wait for the rise if any, has give the source country your capital to trade and make massive margins way beyond the profit rise if any for the period of time..

On that last line.. if we all go into crypto, while doling away funds used in recycling the economy, would it not prompt Govt to oil the economy which in turn causes inflation?

The currency is domiciled in Nigeria, they have intermediary banks which you transfer to, eg if i buy wanted to deposit with binance the funds are paid into a Nigerian bank in naira, which improves liquidity, I'm shocked you don't know this, now they're saying let's stop receiving these funds in Nigerian banks, how is this helpful
?

Crypto is a means to an end, you make profits to spend, ultimately this currency flows back into the system.

Esseite:
This is because they are export oriented nations, they would only adjust their exports of produce alongside bitcoin fx escape. This may not be same for US, because bitcoin is domiciled in US economy. That is why other nations that cant balance that propose their own coins.

Inflation would come when massive funds are plunged into cryptos while the native Govt has to print or create liquidity to oil its economy which in ture creates inflation or devalues the naira.

Inflation will come because Nigeria has refused to diversify and create policies to spur growth , they use contractionary economic policies to solve a stagnated economy.

Expansionary economics is what is needed.

As for the devaluation blame it on dwindling crude oil returns /import dependency/policies that stiffle businesses not crypto.

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

So i should put 10 million in a bank that pays less than 3 percent interest or buy stocks in unproductive companies that would half the value of my initial investment after a year?

How is the currency domiciled abroad when you have instant access to it.


You have no understanding of how economics work's, crypto traders are actually robbing from western countries and bringing wealth into Nigeria.

Let me ask you, after making crypto profits in what currency do they withdraw and spend ?

Think through the last paragraph properly

Esseite:
While the wait to rise 10%, has that not prevented circulation of funds in the economy? Which inturn creates inflation when everyone dumps real economic investment for small margin profit on crypto currency not domiciled in Nigeria..

If your assumption is the case, why are countries seeking to prop in their own coin?.. eg India.

Is there any business/investment that doesn't take time to return profits?

Using demand and supply, how does investing in an asset create inflation when there's less fiat floating around?

The assumption that everyone will dump the real economy is subjective, some people use the trading profits to start businesses.

I wonder why crypto trading isn't affecting productivity rate in western countries, but developing countries like India and Nigeria deem it threatening.

Like I said, the only meaningful argument that makes sense is fraud and terrorism prevention.

Thinking outside the box moment for people who don't see any value in Nigeria and it's huge population.

Are these female celebs really using clito currency to cash out or simply using their fame to sell products.

Quick investigation show's you can order bone straight hair for 42750 naira per piece on ali express.

The sell price displayed on jiji currently shows 67000 naira, which means you need to sell only three thousand pieces to make 157 million naira gross, with a rough net profit of about 47 million naira, which is enough to buy a 100k dollar car.

With their fame and social media popularity, i think this is truly possible.

Esseite:
Crypto currency is a death nail on import dominated countries. there is no balance of trade or how that can be regulated. Do you think the loans gotten from china is not a means of balancing trade due to our large imports?..

how do you balance the escape of forex through cryptos for an import dominated country especially for non physical services/goods?

- It undermines monetary policies of various Government..
- There are no checks and balances.
- Any dick and harry can prop up a coin.
- it discourages foreign investors from investing physically in developing nations.

Best initiative from CBN on saving the naira.

This can't be correct.

Reverse everything you said and now we have proper economics


Simple example, i use my 50k naira to buy crypto, it shoots up 10% , i now have 55k naira, the government didn't have to print more money and there was no stress put on the dwindling factors of labour to generate this additional wealth.

Forex isn't escaping because trades are in naira, in addition it's far cheaper to use the black market for Forex transfers than to use crypto.

The only downside is fraud, fraudsters don't care about transfer costs associated with crypto so they'll use it regardless.

They have all the time in the world to plan for uncertainties and organise around specifics, but no, na to dey post nonesense up and down, talking about stupid stuff constantly.
When una tell them to be pro active and group think, they say no.

Una never see anything yet, just wait till 2030.

MadeINchenzen2:
And what makes you think my ass is as black as yours.

I know my people na

livinbygrace:
Una never see anything yet,sebi una dey support the so called Efcc clamping on anybody with laptop.I repeat again,una never see anything yet.

Wetin dem wan see, they will kill any motherfuckn criminal and yes this will be embraced.

No one is agreeable to banning crypto, but seizing every opportunity to be a yahoo apologist will not fly.

Go and look for work or start a business, if all fails , japa via morroco.

MadeINchenzen2:
When u say white u mean colour, when I say white I mean civilisation, knowledge, deep thinking, good judgement, impeccable reasoning... unlike Africans who uses less than 1% of their brains. Same reason why they languish in perpetual darkness.

Now u see how lowly u use ur African brain to understand simple lines of literary expression.


SMH

Its embarrassing sharing Nairaland with the likes of you.

You are insulting yourself.


Since you know Africans are brainless, why would a brainy white have offsprings with you knowing the the child would have lost some brain cells.



It's one thing to hate the circumstances you find yourself, it's another thing to be looking for saviour's who have no interest in resolving that said situation.

Think oga

Harmlesspill:
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So what happened to our big Yahoo men??

A criminal is a criminal.

The way I look at it is let them keep flushing out yahoo boys, the less yahoo the better, as for the politicians, their time will come.

We can't be bad citizens and expect good leaders.

Harmlesspill:
You sound so awkward ...
Yahoo guys are all over the world.
Go to Philippine, Thailand, Ghana, everywhere.
Is the Nigerian Government Trying to bring sanity?
Of course you know the answer.
Our politicians are busy sending our money overseas, and you're busy saying trash about Yahoo guys that what they're doing doesn't have a fucking effect on our economy.
I'm not a Yahoo guy buh I don't support the move of the most useless government in the world

I don't care whether Yahoo guys are everywhere, what i know is Nigerian scammers are lousy and dumb, they keep getting caught and even when they are not, they're too loud, up to the extent that outside of Nigeria, everyone thinks you're a scammer once you mention Nigeria.

The other dark side is , whether you like it or not regardless of statistics, Nigeria has become the poster child for fraud.

This has resulted in blocking the average Nigerian from being able transact with the outside world. Eg sending funds, buying, online work etc.

This has damning consequences but what do I know, you can't see further than your nose.

Keep making straw man arguments about criminal politicians and yahoo as if either group is of any benefit.

The country isn't ripe for westernisation.

All the new age behaviour is only going to lead to more chaos.

Keep the original culture but modernise with technology , not leftists cultural Marxism.

Most won't get it especially those dullard equality freedom fighters.

Telegram234:
Use BTC or the sender can send gifts card

Isn't btc too risky for sending, what if it tanks before the receiver gets and convert to fiat?

Enlighten us please