Azaland:


Please dear all, read this:

https://www.nairaland.com/8073543/financial-literacy-only-weapon-financial

That way you can understand our project deserves better than some low level marketing I'm doing here.

But your feedback is golden to us.

Keep your eyes on that project.

Your decision is yours.

This is not an investment advice.

Mr man stop spamming this thread!

Make you carry this your Aza thing go another place make we get chance see useful posts!

These people posting scam airdrops should stop please.

We came here for quality analysis and tips not for airdrops

Is there anyone here who can sell me 400USDT in 4 tranches of 100USDT each? I don't mind sending money first.

Please don't bother to quote this message or contact me if your Nairaland account is not up to 4 years old and you have made at least 20 comments on this thread

narite:

Pardon my question. What was your discipline while in school?

Really?

Are you sure you want to open this door?

State your full name (With proof), educational and professional qualifications, career progression and career achievements and I will do exactly the same, let Nairalanders go to our LinkedIn pages and decide for themselves between you and I who has more competence and experience to speak on economic and fiscal matters!

narite:

The moment that moniker electromoney says “BDC set the price for CBN”. I give up. I am amazed at how he continues to hold on to his judgment on a subject he/she is totally clueless about. Probably, he his politically bias as well as ignorant.

What does Binance itself set to gain from Naira free fall? Are they planning to have a vacation in Nigeria? This must be the reason for the devaluation so that they can buy more foodstuffs. Or Are They heavily invested in Naira and they are now dumping their holdings. Seriously, what could Binance gain from this? This argument is clown shït!!!

You are a vile liar!

Where did I say that BDCs set the price for the CBN.

What I said and what I still stand by is that the activities on Binan.ce are what is causing the value of the Naira to rapidly depreciate because it has a psychological effect on prices of real US$ rates.

I then went on to say that due to the rapid fall in dollar rates CBN is as a result forced to adjust its own rate upwards because if the gap becomes very wide it will create an irresistible arbitrage opportunity for round-tripping on a massive scale

Tsfari:




The psychological effect of Binance has more impact because it is more popular and a lot of people quote their rates using binance rates… do you think that if the system is not limiting buys at 1802, dollar would have been at 1800 region now? It would have likely flown to 2000 with the rate the Merchants usually hike prices. I don’t know if it’s a rumor or the truth but I’m positing strongly that if the government reaches an agreement with binance or goes after them effectively… rates will be stablized just as we are seeing today.

Bravo!

You practically just took the words right out of my mouth.

Quitmast:

Sometimes I am baffled by how humans can have a strong opinions on something they do not understand.

Seriously, this is probably the dumbest article i have read online in a long time.

Before CZ was born, the Naira aa been falling. All the way from 1kobo per dollar to 250 Naira per dollar( somewhere around 250 Naira per Dollar; Binanceee was incorporated) Imagine the level of devaluation. This trend as not change a bit over the years. Nigeria itself has gotten worse and keep getting worst in all areas of life since the day it attained independence.

A currency is as strong as it economy behind it. A currency is a representation of a country. If the country is conducive, safe, stable, transparent, innovative, it currency will inevitably do well.

What makes you even think you have a better grasp of the issues I raised?

This discussion is clearly above the mental capacity of a porn addict such as yourself.

My advise is that you concentrate your efforts on your battle with masturbation and leave the floor for better informed and knowledgeable persons to engage me on a debate on the matter on ground!

Quitmast:
Folks, i will admit it, this demon has consumed me. I want to battle it and conquer it. I want to quit masturbation!!! Right now, I can’t go 24 hours without masturbating at least 5 times. How do I cage this demon? Please!!!

Quitmast:

Starting from last week, I have taken significant steps to quit masturbating. I stopped watching those beautiful Instagram models, in-fact; I have uninstalled my Instagram totally.

I don't do much data this days because when I have too much of it I go straight to watching those live porn videos.

I am yet to really quit masturbating at all but I noticed my level of masturbating as reduced from masturbating an average of 5 times a day to like 1, 2 and at most 3 times a day since last week.

Masturbation as eaten deep into my physical and mental well-being. When people see me for the first time, they know I am an addict to something, they just don't know what it is.

I swear, I am going to quit this thing!!!!!

Quitmast:

I started out like this. However, later on all I could think of is getting more and more of the temporary good feelings masturbation gives me, I was starting to do it more often during the day, the week, month.

Then, it got to this stage where I just want to do it, whether it feels good or not does not matter to me. All I could think of is masturbation first; How weak I am does not matter, I become less and less conscious of my environment. All I want to do is bring out my dïćk. I cannot concentrate for a long time on anything. This thing has devoured me. I look ragged, completely finished. I am suffering.

Please, I beg you to stop while you still can.

Quitmast:

LOL…Make I use this medium, to ask for help. Guys, can you give me any tips, advice on how to quit masturbation?

Prosperity4All:


Absolute bunkor
Were you born yesterday or you think Binance was launched as soon as Tinubu took Office.
Why didn't Binance adversely affect the Naira during previous governments .
In case you don't know before Binance Nigerians have been trading USDT and other Crypto on other exchanges.
Find another excuse for your Ogas inability

I'm not even going to waste my time trying to convince you because it's already so obvious you're one of the people who want the country to fail so you can "I told you so".

Just so you know all of us in Nigeria are in the same boat therefore no one will escape the severe difficulties that will come with a collapsed economy therefore be careful what you wish for

AwoOkeIjero:
USDT is a token. USD is fiat. If you want to buy USDT with USD, you will also get less than what you offer.

Same goes for the Naira anyway....

It is called floating, baby.

**If you need USD, go to the abokis, mallams, BDCS, and banks.

USDT is for those who engage in crypto dealings, and as much as I hate to say this, no one forced you to buy USDT.

It is the trade in USDT that is driving up the exchange rate against the Naira and not basic economic fundamentals.

Once the rate on Binan.ce goes up the abokis will also quickly adjust their own rates upwards

Ebubu2:
Fools

Chasing shadows.

Are hungry boys trading on Binance the reason why you’re poor?

Emefiele printed billions of naira illegally, FG is on quadruple loans, thousands of Politicians are hoarding millions of USD in cash at their private cold rooms.

You’re here talking of Binance

Please state your opinion without throwing insults, we're not discussing Ebonyi State matter here!

Queseda:

I also said same thing on another thread but people said binance have no effect

https://www.nairaland.com/7989789/edun-cardoso-olukoyede-fresh-bid/4#128271774

A lot of the people who are trying to denying the negative effect of Binan.ce on the exchange rate are doing so because they earn some income in US$, but unfortunately they do not realise that a severe economic turmoil in Nigeria will have a negative effect on everyone either directly or indirectly!

narite:

You do not deeply understand how it works.

You guys keep blaming artificial manipulation, the CBN rates is now at 1500 all the way from 900. Is Binance responsible for the CBN rate too?

The reason why that is so is because everytime the rate in the black market moves up the CBN is forced to also adjust official rates upwards.

If the CBN does not do this the gap between official and black market rates will widen and that will create an irresistable arbitrage opportunity for round-tripping

Chikacha:


When there is a problem, the easiest pointer may not necessarily be the cause of that problem.

Are you saying Naira is the only currency traded on Binance? The same Binance that is saving other countries from their government, the same crypto that wheels power to ordinary man, e reach our own, e don turn to our major problem.

Forget about all these long stories Binan.ce is the reason for the rapid fall in the value of our currency, I have taken time to analyse the data

narite:

Do you know the meaning of “SAP”?

This depreciation that Naira is experiencing has noting to do with Structural Adjustment Program SAP of anything related to the IMP this is pure artificial manipulation!

You people can deny it all you want, it does not change the fact!

Which yeye SAP policy will make Naira fall from N1,650 yesterday morning to over N1,820 today? A significant percentage of importers have suspended activities due to the very high exchange rate because if you import at such a high exchange rate no one will by whatever you are importing because purchasing power of the populace has been eroded.

The depreciation is due to manipulation, that is the only logical explanation.

Just between 9am yesterday 19 February 2024 and now 1.10pm 20 February 2024 the rate on Binan.ce fell from N1,640/1$ to N1,820/1$ and has continued falling!

If anyone was in doubt before it should be very clear now to everyone that the continuous rapid depreciation of the Naira is not being driven by natural market forces of demand and supply but is being fueled by the major crypto exchange Binan.ce.

Hear are my reasons for blaming Binan.ce
The rate of exchange on Binan.ce is always higher than the rate in the informal black market
If you have traded in physical forex recently you will observe that the rate offered by the mallams is always less and is trying to play catch up with the rate offered by Binan.ce. This is because most clients first check the Binan.ce portal then use the rate there as a basis for negotiating with the physical currency dealers

No fiscal justification for the rapid descent in value of the Naira
Due to the high rate of exchange imports have slowed down yet the currency still continues to depreciate rapidly. This is confirmation that the depreciation is not being fueled by macro economic forces but by manipulation

Activities of speculators who are trading in Naira futures on Binan.ce
Since the Binan.ce portal introduced a feature for bidding on the Naira on their platform the descent in the value of the Naira has accelerated

The Nigerian government needs to act fast before Binan.ce takes down our economy


Seun
Mynd44
Dominique

Fastt:
Since Binance launch ngn spot trading @750, there has been drastic downward of ngn. Il sure you can't access spot trading if in ngn(to be confirmed) but outside Nigeria, it's very much accessible to MM to short the currency. Something similar happened with the russian currency, Binance was forced to closed the spot trading. If you want to short a Nigerian currency t should be done on a regulated channel. Pls if anyone knows tinubu I'm here to provide a solution to y'all problems. I'm very serious, I have all the datas but I don't come cheap. Beneficial to everyone . If un no hear word,the usdt will be 3200 in about 3 months when we approach ATH.

I remember when Enyinne made this observation here last year and some people shouted her down.

It is becoming more clear to most people now that Binance is the reason for the fast depreciation of the Naira

I'm sure if you check the data you will find that there has not been an appreciable increase in the level of imports over the past 6 months yet there has been a sustained pressure on the Naira-Dollar exchange rate...this is very illogical and is concrete proof that Binance is the culprit!

Don't land in a ditch because you're chasing free airdrops, there's no free money anywhere!

Stop putting your money in every junk that comes along!

GRACEGLORY:




See who’s waking 😀
You’d regret if you don’t catch the DOT bug.

.

Let me quickly go and take position, this morning I narrowly missed an opportunity to double $1,000 when MOVR started pumping

Have you guys seen what MOVR is doing on the exchange today?

GRACEGLORY:



Let me see your hand if you bought Oggy

.

Do you by any chance know why Mexc suspended trading in Oggy?

I have holdings of Oggy but I noticed that Mexc stopped trading in the aaset until today when they began a countdown timer to re-start trading in it.

Is this the same on other exchanges that are trading Oggy?

GRACEGLORY:



Now at resistance the $55

What's the next point of resistance after this one?

gamaliel9:
KAS
GFAL
HELLO
MYRIA

Load them up, not less than 100k unit each....see me in October 2025.

.

I'm not buying those junks anymore, I've learnt my lesson the hard way!

OgogoroFreak:
APE will 3x but the price will be at $0.8 after the 3x. So if you buy now, you'll still be at a loss after the 3x. Same with most alts.

Buy bitcoin.

.

What you have said is very true.

Right now my ambition is to recover my initial capital of $4,700 during the next bull run, once I do that I will stay with only BTC, ETH and the other top 10 alts!

twosquare:
In good faith, I think (this is my own opinion) after this XRP frenzy, people should watch Dodgecoin. There may be a likely breakout next week, either Tuesday or Wednesday. Either of the day when Tesla's earning reports will be released, which should be in the positives too. Crypto will move definitely, but I feel Dodgecoin should perform.

Also, you may want to acquire some TSLA stocks.

.

Noted! Thanks for this info

twosquare:
Well, I mentioned this a month back and now, XRP hit 0.64

I believe if the info requested in the bold was shared on this platform, many would have cashed out apparently.

I will mention possible things to expect next week so people can prepare in another post.

.

What are we expecting next week in the market please?

Mazinewmoney:
Guys buy $APE

.

Anything concerning an ape or monkey or gorilla of any sort I'm not doing again!

The $420 I invested in (Feed Every Gorilla) FEG coin because of hype turned into dust.

Where are all those Bored ape NFTs that were making noise all over the place?

They have all faded into oblivion

Abdul4trust1:
that coin looks like something that will go rug

Why do you say so?

I have taken heavy position in that coin o

Congratulations to our new president-elect, Bola Ahmed Tinubu!

Hotice085:


Super FOOL
2023 useless He-goat.... regulated by cabals that can print more money at their will against the general public, fix inflation and deflation at their beckings

The last global world meltdown caused by bankers, how many of them were jailed compared to the general public that lost a great deal

Thunder fire you this 2023....Fiat criminals

You're less than a wild animal.

Your ranting is incoherent cos your understanding of micro and macro economic principles is shallow.

May thunder fire you all the way to your village you bastard.

You think you know how to open your maggot infested mouth and insult people here...I will give you what you deserve.

Bring it on!!!