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 Investment › Re: Crypto Currency Investors Thread by jedisco(m): 2:21pm On Oct 20, 2021 |
Abdul4trust1:Keep arguing.... Put in ur seed phrase and watch ur wallet go empty.... Dod you bother to see the rating and read the reviews of the app you downloaded? 6 Likes |
| Investment › Re: Crypto Currency Investors Thread by jedisco(m): 2:14pm On Oct 20, 2021 |
abeladepoju:You may if your usdt is on the binance smart chain. I don't know what the lower limits are on dapp exchanges.. personally, I think 2 usd is low to venture into this market... Most exchanges have a lower limit you can buy. For binaz, its 10 The error msg u got is clear. You have to buy in multiples of that sum. Leeme ask, why are u buying sanshu?... Is it cos lots of people are talking about ut or cos it's pumped recently or any other reason? 1 Like |
| Investment › Re: Treasury Bills In Nigeria by jedisco(m): 10:25am On Oct 20, 2021 |
Another example of an 'internet company' is Kuda which is our mobile only challenger bank... Their rate of growth has been impressive. From given figures, they've grown from 300,000 to 1.5 million users in under a year. I've had a play around with their app. Although very smooth, it's features are still limited. But then, I can see why they've grown in leaps and bounds. They make banking easy. Their killer feature is the 25 monthly free transfer they offer. It might not sound like much but I can see why the average/young Nigerian will troop into it. Obviously unlike regular banks, they're able to afford this cos their overhead costs are minimal. Their room for growth is huge... If the NSE was going to evolve and make trading stocks easier, Kuda would be primely placed to bring such to the youth. Recently, they were able to raise significant funding based on a valuation of $500 million which puts them high on the list. As they're not publicly traded, some of their numbers are not out in the open but fact is they're an exciting project and the bank with the best potential for growth. Personally, I don't have stocks on NSE due to the market performing poorly for over a decade, but if Kuda was publicly listed, it'd be a stock I'd like to hold 1 Like
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| Investment › Re: Treasury Bills In Nigeria by jedisco(m): 10:11am On Oct 20, 2021*. Modified: 2:30pm On Oct 20, 2021 |
OgogoroFreak:This is disrespectful... Can you apologize and take down that post... In a civilised society we all talk of, a statement like that traced to you might very well be the end of your career. There is this woman hating culture growing on nairaland which is quite unfortunate. Like I've said multiple times, Nigeria gives you about the most privilege as a man. As a Nigerian man, your best deal likely lies with a Nigerian lady... It's the poverty in the society that gives us the room to debase our ladies. This destructive culture is similar to what you get in African American socities...we can see where that has led them. Fact is, if you think Nigerian ladies are not intelligent, its simply because Nigerian men are less intelligent than their female counterparts... We are all part of thesame genetic pool. We should learn to treat everyone with respect. 17 Likes |
| Investment › Re: Crypto Currency Investors Thread by jedisco(m): 7:52am On Oct 20, 2021*. Modified: 9:04am On Oct 20, 2021 |
The way I see the market is this- those who control the market and profit think and act differently from those who do the opposite.... There are people who buy bottoms and sell tops nd those who do the opposite. One thing I usually do when I get a macro move wrong is to review the thoughts of those who got it right and replan before that move is over What I'm tryna say is this.... The folks who sold at 60k in Feb-Mar and bought back at 30k in July will likely be the ones to take profits close to the top of this macro market cycle when everyone becomes bullish. In summary... If you didn't take profits earlier this year or buy the dip in June/July, you might want to review your overall trading pattern going forward. To me, the purpose of trading is catching majority of such moves. 19 Likes 2 Shares |
| Investment › Re: Treasury Bills In Nigeria by jedisco(m): 7:34am On Oct 20, 2021 |
Another thing folks fail to understand is that just by reason of operational overhead, it's much easier for internet based companies to convert a larger proportion of their revenue into profit. Take Nairaland for instance, while tgere are no official figures, I'd argue that NL is more profitable than any Nigerian newspaper. Seun leverages on those newspapers to get news hence he does not need a reporter or associated logistics. NL has more daily visits than newspapers sold, NL can deliver dynamic ads as you navigate the site. Millions around the world can easily access it. Yet, theres no official operational office. I doubt if the folls on Seuns payroll are upto 20. Most cost will go to data centers which are now cloud based. Also, the room for growth on NL is huge- it could have a social media like section, escrow for buying and selling, hook-ups e.t.c All these can be built on top of the existing visitors base... It makes sense to see that NL with virtually no office/staff, will rake in much more profits than say Vanguard or Thisday whose reporters are constantly being chased around... Still on 'internet companies', lets not forget that some of them e.g Google, Facebook are worth more than virtually all the 'physical companies' in Nigeria put together...... 9 Likes 2 Shares |
| Investment › Re: Treasury Bills In Nigeria by jedisco(m): 7:22am On Oct 20, 2021 |
On IMG, There's a cultural thinking in Nigeria thet internet=scam. Look no more than the sars debacle to understand.... While it might be easier to coordinate a ponzi scheme online, a vast majority of the fraudulent schemes in Nigeria are based offline... From the early days of banks default till today. Reason being they can isolate their 'customers' and deal more harm. Also, Nigeria has a relatively poor internet penetration. For example, how many citizens above 50 are comfortable using a banking app? IMG was hardly an internet company, the first time I heard about it was after the default... The guy grew that large by operating offline. Recently, there was a fraudulent company that defaulted despite having branches in different states.. In summary, irrespective of platform, due diligence is still important. 9 Likes |
| Investment › Re: Crypto Currency Investors Thread by jedisco(m): 11:27pm On Oct 19, 2021 |
Generally, the alyt market can be a good guage of retail sentiment Eventhough I'm hoping on a betece pullback to have a final loadup, there's also a good chance the coin does breakout... It's in such conditions that bitc0in usually holds a breakout.... The coin always leaves the majority offside moreso at the extremes 3 Likes |
| Investment › Re: Crypto Currency Investors Thread by jedisco(m): 7:07am On Oct 19, 2021 |
jedisco: 2 Likes
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| Investment › Re: Investing In Digital Currencies; Looking At The Bigger Picture by jedisco(op): 7:06am On Oct 19, 2021*. Modified: 7:35am On Oct 20, 2021 |
Talking about trading, Looking at the bitc0in chart, someone who held bitc0in from June is already 2x up. Now how many people here who say they're day trading have been able to double their portfolio over the past 2-3 months? I still believe one of the easiest ways to make money in this market is the stress-free one... Now defi makes that even sweeter. 1 Like
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| Investment › Re: Crypto Currency Investors Thread by jedisco(m): 6:59am On Oct 19, 2021 |
Ibime:This is not their time.... It was obvious a while ago. Alyts don't do as well when bitc0in battles resistance.... Even if bitc0in breaks ATH, it may take another 2-3 months for bitc0in profits to cycle into alyts.... The good thing is when they rally, they could easily put in a 3x from current valuations... Also, bitc0in dominance foretold the story a while back 11 Likes 2 Shares |
| Investment › Re: Investing In Digital Currencies; Looking At The Bigger Picture by jedisco(op): 6:56am On Oct 19, 2021 |
BuisnessThrills:Haven't spoken much as most of the things I outlined are still in play..... When trading the bigger picture, you don't need to monitor the daily market moves... Look at it this way.... If bitc0in goes on to make another high, in the next 6 months, almost every alyt would triple their current valuation.... You'd then be wondering why you were bothered about buying at one price or another.... Personally, I'm hoping on one more dip before ATH so I can fill my bags.... After that, I'd let the market be for a while 4 Likes 1 Share |
| Romance › Re: What by jedisco(m): 3:32am On Oct 16, 2021 |
mosdii:I hope you know that it's not possible for Nigerian girls to be useless and Nigerian men not to be equally useless. Abusing women of your kind is not the definition of red pill. If you strive to be at the top, these things you seek will come to you. The low IQ of some of you folks is appalling 9 Likes 1 Share |
| Investment › Re: Treasury Bills In Nigeria by jedisco(m): 3:09am On Oct 16, 2021 |
Youngzedd:The effective rate on GTB is less...abt 10% apr in actual terms... Also, the way it's structured, relatively more of the interest is paid at the initial months hence after a while, it might make sense to hold it for the full term. 6 months cap is for the first tenure... Subsequently, it's upto a year. Rates could be better, but you also have to look at CBN borrowing rates (i.e TB's) which is usually a benchmark.... Banks would lend less than TB rates |
| Investment › Re: Treasury Bills In Nigeria by jedisco(m): 3:02am On Oct 16, 2021 |
NL1960:Not an unusual scenario with folks who cross the divide. It takes years to see that different nations operate differently.. Most business opportunities that'd bring good money in Nigeria wouldn't in other climes as they're already structured or industralised (e.g agro storage)... Reverse is also the case In a developed nation, being unable to leverage the opportunities the society provides means you might just end up working for others or to pay tax 1 Like |
| Investment › Re: Crypto Currency Investors Thread by jedisco(m): 2:45am On Oct 16, 2021 |
Another alert goes off.... Hehe... These micros are good to buy at their lows
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| Investment › Re: Crypto Currency Investors Thread by jedisco(m): 2:44am On Oct 16, 2021 |
NgHotGirls:What news |
| Investment › Re: Crypto Currency Investors Thread by jedisco(m): 2:14am On Oct 16, 2021 |
Bought KEEP a while back... Logged in and saw it's pumped... What's causing the pump 1 Like |
| Investment › Re: Crypto Currency Investors Thread by jedisco(m): 1:57am On Oct 16, 2021 |
Bitc0in goes turbo.... continues to surprise Seems very few are still holding Bitc0in positions.... Best we can hope for is a pullback before it exits this range.... Cos things could move quickly afterwards.... I'm still holding out for one more dip which should be my semi-final loading opportunity of this bullrun... Want to grab some tokens and let the market be till December/Jan 4 Likes |
| Investment › Re: Crypto Currency Investors Thread by jedisco(m): 7:38am On Oct 14, 2021 |
Bnb and bake are pumping...... Could cake be lagging? |
| Investment › Re: Crypto Currency Investors Thread by jedisco(m): 8:55pm On Oct 11, 2021 |
Are people surprised that alyts are behaving this way? Alyts don't do well at resistance moreso a resistance where folks are expecting betece to dump.... It was quite clear alyts will struggle with betece above 55k... All we should hope for is tga betece gives alyts a week or two yo recover before a breakout... Cos once betece breaksout, they'd bleed more 9 Likes 1 Share |
| Investment › Re: Treasury Bills In Nigeria by jedisco(m): 8:44pm On Oct 11, 2021 |
emmanuelewumi:Yeah, I agree banks are now availing such funds more easily but most SMEs dont know or are scared or banks... They would say 'I no want bank wahala'. Most SMEs dont even know what an auditor is, don't have a business account and largely deal in cash to their detriment. What banks now do for some SMEs like schools is that they look at the cash flow into the account and use that as a guide to quickly guage what can be borrowed with little overhead collateral. One thing that still needs working on are borrowing rates. Ideally, these should be less than 10%. CBN can start by cutting down TB rates to somewhere below 5% and having an SME rate cap As with most things, people who really need them do not know how to access them hence why the rich get richer and the poor poorer... Most rich folks will say that once you get to a particular threshold of wealth, doubling or tripling that is much easier largely cos the system favours them and they also know how to benefit... Most SMEs while run by tenacious folks do not grasp certain aspects... Most do not understand the economics of scale. Most wouldn't give up even a small percentage of their business in return for significant funding that'd boost the business, most still believe in the good old ways... But I give it up to them... They've survived where many thought they wouldn't 3 Likes 2 Shares |
| Investment › Re: Treasury Bills In Nigeria by jedisco(m): 8:13pm On Oct 11, 2021*. Modified: 6:24am On Oct 12, 2021 |
Talking about credit, I'd give an example of two Nigerians who arrive a Western nation. Mr A comes in and gets a good job. He has heard alot about negatives of 'credit' and only wants to pay for what he can afford which to him means paying for everything in cash.. He does not get a credit card as he wants to avoid temptation. Of course he does that and is happy he is prudent. 10 years down the line, Mr A saves up, wants to buy a house, he approaches the bank asking for hundreds of thousands as mortgage... Of course he wouldn't be given or get a smaller sum at a high rate. Mr B gets same job but on the other hand accepts a credit card from his bank when given. Spends from it and pays back fully when due. He buys item's weighing these sensibly against his earnings e.g a phone, car on credit and pays monthly even though he may pay higher eventually and can afford those items in cash. He is able to build up a good bank balance quicker while living a comfortable life. He approaches his bank yo aid with a mortgage, they look at his credit history and his balance and lend him an appropriate sum at a sensible rate as he has a good record. Few years down the line, he is able to raise some bulk sum again, places his initial house on rent and gets another mortgage. Now, his bank can lend him bigger sums at much lower rates (1.5%). In a few years, he has 2-3 houses on his name... Tenants in his rented houses are practically paying off his mortgage. He is able to build a good standing for his kids Meanwhile, Mr A has just settled into his first home cos it took him years to understand how the system works.... I have seen this play out a number of times... My summary is all about leveraging what the society gives and doing that within ones ability... Credit can be a double edged sword... It can make and also mar 17 Likes 2 Shares |
| Investment › Re: Treasury Bills In Nigeria by jedisco(m): 7:53pm On Oct 11, 2021*. Modified: 8:21pm On Oct 11, 2021 |
emmanuelewumi:With the ldr increase, I agree that banks have been forced to grant SMEs more loans. Many now have a dedicated page on their website with clear terms and a good number actively advertise these online. That said, there is still alot of work yet to be done. Yes, banks would rather give bulk sums to the few rich individuals (who are more likely to default as little can be done to them), than give an equivalent sum to a multitude of SMEs. As we know, SMEs are the building rock of any society. 1 million given to 1000 SMEs is most times more beneficial than 1B given to a large coy. This is where the CBN has to step in and enforce safeguards. 1 billion extra in Otedolas pocket hardly helps the economy. Moreso, such big voys can easily access credit through various means. I'm not asking banks to freely give loans to start-ups (which will mostly fail) but they can identify SMEs with good history and potential to support. The data from the recent ldr increase shows that they know how to do this- they just have to be pushed. I wouldn't compare the financially knowledgeable banking folks to our SMEs. I will give an example of a typical Nigerian SME.. take Mr A who owns a poultry and has built it slowly for years and now grows 1000 birds at a time. He might have a capacity to grow 1500 during Christmas which there's market for but is limited by funds. Such a person should be able to go to his bank and ask for 1 mil to support his business. I expect the bank to be able to look up his credit history (if we have one), his business account flow, pay his poultry a visit and decide if its sensible to give such a sum. Of course the bank has to check risk but it'd be impractical to ask people like that to provide huge collaterals as can be the case with most banks. There should be a way of identifying dependable SMEs who need little leverage to build on and our banks are good at that. Very many times, such people pay such loans early... After about two times of borrowing 1m for such a venture, he could progress to borrow 1.5 m on the back of his credit history, further expand his profitability.. everyone wins.... Mostly, such SMEs are left at the mercy of loan sharks who demand an arm and a leg in interest. What then is the use of banks to such folks? Funny enough, these loan sharks make huge profits by ripping off the poor. Our SMEs in Nigeria are the little restaurants, farms, shops e.t.c. most of what they need are little sums to improve their environment to attract customers, buy machines e.t.c and mostimes they need this for short periods. I will not expect them to depend on venture capitalists to access credit. Even in the West, SMEs are buoyed by the Government. Nigerians are generally credit averse.... Most SMEs are very scared of bank loans (and are unlikely to default) and very few know the workings thereof.... 9 Likes |
| Investment › Re: Treasury Bills In Nigeria by jedisco(m): 4:33pm On Oct 11, 2021*. Modified: 5:08pm On Oct 11, 2021 |
Finally, this reminds me of the argument made when ATM machines were being introduced. Many said they'd not work in Nigeria...that people will steal them, that the money dospensed will not be counted properly e.t.c... Today, ATM are all around the nation and we've even moved to mobile POS... Who'd have thought? Goes to say that with the right policies and framework, things can and do work in Nigeria just as in other nations 10 Likes 1 Share |
| Investment › Re: Treasury Bills In Nigeria by jedisco(m): 4:29pm On Oct 11, 2021 |
Alot of poor nations have failed to utilize the monetary system adequately. Maybe cos it was mainly developed by the West and all they had to do was copy without knowing what does what. The essence of a Central bank is not just to print money and that of commercial banks are not just meant to collect that money and warehouse it in the central bank. Money is meant to flow around in a community.... That way wealth is multiplied... This holds true for all advanced nations. The central bank outlines macro policies while commercial banks institute them 6 Likes |
| Investment › Re: Treasury Bills In Nigeria by jedisco(m): 4:26pm On Oct 11, 2021 |
While the argument has been made that Nigerians are not honest and would default on loans, the data says something different. Following the introduction of 60% ldr for banks and subsequent increase to 65%, banks were forced to lend out more which resulted in a 32% increase in monies lent YOY. Within that same period, the amount of non performing loans dropped... That says something. It's either the banks already had a way of identifying good borrowers a d had been dragging feet or the new lending went to a different group. I think iys a mixture of both. Before that policy change, it was uncommon for banks to advertise loans or SME facilities... That means likely those they were borrowing to were the high and mighty individuals who are very much likely to default as they know there'd be little or no repercussions. With the new rule, they had to start identifying the everyday folks/SME to afford reasonable facilities who actually pay as the data shows. Now if the CBN could build on that, they can demand that a portion of those loans could go to housing while also building a framework that'd enable firms to build houses and mortgage it out to certain folks say civil servants who would then access these facilities and pay back over a longterm. Of course, the house could always be repossessed if there was a continuous default 5 Likes
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| Investment › Re: Treasury Bills In Nigeria by jedisco(m): 4:14pm On Oct 11, 2021*. Modified: 4:39pm On Oct 11, 2021 |
emmanuelewumi:In my case, the loans were automatically approved. But then, my point say there should be a verifiable way of sharing such data across industries and rewarding good borrowers with improved ratings. For example, If I had been a good borrower from FBN, that should count for me such that over the years, I could switch to Zenith and those records can still be viewed. Retail outlets could bank on that data to have structured paying for items. With time, I could build on all that and access facilities for a mortgage (if available). Credit goes both ways- consumer credit when managed well can help to boost the spending capacity of the middle class which is a win. But then my focus is on industrial credit and that available to SMEs which is the bedrock of any developed society and also what Nigeria struggles with. In today's world, it's almost impossible to build viable and competitive SMEs and even larger industries without the nation availing them accessible and cheap credit. Before the recent CBN intervention which has helped, folks who got access to credit just like most things in Nigeria were usually the few rich and powerful. The rest had nothing or got very little at cutthroat rates. If that wasn't the case CBN wouldn't have increased the ldr few years back with a hefty 50% fine for defaulting banks. Even at that, a number of banks are still below the threshold. 3 Likes |
| Investment › Re: Treasury Bills In Nigeria by jedisco(m): 10:01am On Oct 11, 2021 |
emmanuelewumi:In every part of the world, there are two things humans don't like paying- debt and taxes. The issue is that without an objective system, there is no way to track credible borrowers and there are no rewards/repercussions for being credit worthy. I'd give an example- I have benefited on more than one occasion from the GTB quick credit scheme... Both times, I paid back in full before maturity but my limit remained same... If there was a way to track that I've been a good borrower, that'd mean that in future, the bank could offer higer credits for longer periods to those deserving and build from it. There are people who pay their rents, electric bills e.t.c regularly... The infrastructure could be built to track and reward all these. That way, there'd be a repertoire of credible borrowers who could eventually access higher sums at cheaper rates. The issue of changing jobs, emigration et.c would not affect a robust credit system as weve seen with other nations. 95% of houses and even cars and electronics we buy as second hand are bought brand new with credit in Western nations. They can do that bot because their citizens are honest but because of the repercussions for defaultees. The pros outweigh the cons. Even in multicultural nations like the US, access to cheap credit has proven to be one of the determinants that differentiate poor areas from others. If the nation cannot seek ways to utilise the deposits in commercial banks for nation building, then we have failed to maximize the monetary system and have in essense fallen foul of it 6 Likes |
| Investment › Re: Treasury Bills In Nigeria by jedisco(m): 6:17am On Oct 11, 2021 |
Neverlosemoney:Nigeria has a way of edging on though things have got quite bad of recent and seem to be getting to a brink. With the current inflation after the last devaluation, I worry of what another devaluation will cause. Also with prices of food already set to be significantly higher next year due to security challenges |
| Investment › Re: Crypto Currency Investors Thread by jedisco(m): 9:11pm On Oct 10, 2021 |
Who's surprised that alyts look sh**tty? When betece goes to war, it goes alone.... Na afterwards the children dey comot play 3 Likes |
| Investment › Re: Crypto Currency Investors Thread by jedisco(m): 7:37pm On Oct 10, 2021*. Modified: 9:18pm On Oct 10, 2021 |
Ibime:Yeah noticed the volume is decreasing but not that worried...Maybe cos I've seen a similar pattern play out on doge.... It's still holding the 4hrly and ideally, this should resolve within 8 - 16 hours It depends on where you entered. If you got in on the initial test around 0.22, then there's ample room to place a stop loss between the wick of the last 4hr rerest (arrowed) and your entry.. If it bounces off here, my target is 0.33... I'd plan to sell there, buy back at 0.3 and resell at 0.33 - 0.35 before washing my hands off... Except it flips 0.35.. A part of me tells me it'd take 0.35 but I'm absolutely not betting on that.... Need to lock in profits cos it betece pulls back later this week, then shib will present a golden opportunity at the daily support 3 Likes 1 Share
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