₦airaland Forum

Diversification.... I'd try nd keep this short

Most come into crypt0 and buy numerous coyns with the idea of not putting all bags in one basket.... At least if one does not blow, another will blow... But with time, people come to see that their portfolio does better when they hold fewer assets...
The thing is that with most things tech, the winner takes it all. So ​what people call diversification is most times selling the winner to buy the loser. To put thigs in context, it's like selling part of your Apple stock to buy Nokia or BlackBerry stock in 2013.
For me, the sweet spot is letting the base (upto 75%) of my portfolio rest on 4-5 good coyns....... I can use the rest on more risky stuff

A vast majority of crypt0 coins now have no function and are simply copies of others. Most are speclative instruments.. Identifying the bluechip coyns among the lot and focusing on them is where the real money is made.

Another thing is risk to reward... Typical example xrp... Just like most folks in crypt0, I remember jumping into xrp early on cos I thought it was 'cheap' and would bring bigger returns... Lol... Getting something outta this space has little to do with the unit price of a coyn. This is even more true for large caps...

Knowing what coyns you trade and also when to trade different coyns... Fact is there are only so many coyns one can track.

In summary, there are different groups of coyns in crypt0... Usually, just a few in each group win at the end of the day... Rather than spreading one's portfolio thinly across several coyns, a sensible alternative would be to focus on a few performers.....

I like this....

Dips can be a good time to get in and out of trending coyns...

The weekly usdt chart tells a better story

Out of trading, I'd make a post later regarding diversification in crypt0.... And why folks generally make more money in crypt0 by holding fewer assets...

Also another tip on looking at charts....

wwwtortoise:
Your submissions are pure facts.
It only takes vital economic policies here and there to revive the country.

First principles I'd say which stand true whether a nation is developed or not. Worse case scenario, we could copy what developed nations did and jumpstart our economy....

That's why it irks me when those looting the nation turn around and blame the victims of their wickedness for being looted... It just leaves theever impoverished masses blaming themselves..... Like I said before, it's like setting someones house on fire and telling him the reason his house is on fire is because his neighbour uses a heater...

dre11:
So, the same way naira is accepted that you can’t reject it, is the same way e-naira must be accepted. Anywhere in this country where e-naira is presented, it must be accepted.

So, merchants must accept e-naira as a means of payment. “The liability of the enaira money is directly on CBN which is similar to the cash you hold. The liability of the cash you hold today rests with the CBN.

So, it gives Nigerians the opportunity to bank with CBN.” The CBN Director emphasised that the e-naira comes with many benefits and would save the cost of printing more notes.

“Today the cost of producing the naira and coins is very high. It costs money to print naira in this country. Now, the minting of e-naira is electronic so it reduces cost,”

https://www.newtelegraphng.com/cbn-nigeriansll-download-e-naira-wallets-from-october-1/

Came across this on a fp topic and it largely mirrors my concerns behind CBNs rush to issue the enaira in my quoted post below....

While the concept is novel which I believe is part of the future of most currencies and I can't fault it as the seeming advantages are numerous, I really hope a good framework has been put in place...

First, the CBN should not see the ease of minting and handling digetal currencies as an excuse to mint it carelessness. Whatever is minted is same as minting a note as it's fully backed by the CBN.. The issue of inflation with excessive minting are still thesame.
It would be good to know how much the CBN is minting at a start cos if not tied to forex remittance or something tangible, it could just cause inflation.

Secondly, I really hope adequate security is in place. If there is a problem with the company issuing the enaira, the CBN will have to step in and protect those holding it as it is our legal tender. A reason like this is why the US wil rather private companies issue a dollar crypt0currency while they regulate it.

Finally, a lot of nations seem to be on the verge of doing same and are like waiting for who would go first. CBN doing this in a nation of 250mil will keep alot of nations watching. It's like being a lab specimen. If it succeeds, then the nation would benefit as being an early adopter... If it fails, it could be catastrophic.

jedisco:
Also, unlike with paper fiat where printing paper money is expensive and takes time, with crypt0, a trillion naira can be issued in a day. Can the CBN handle this adequately and not go on a printing spree??

Lots of countries such as China have been trialling out crypt0 based currencies for years and are yet to issue one publicly...but it looks like CBN came to their decision overnight... Hope they really looked into it and x-rayed all implications.. security, sustainability, impact e.t.c.... That said, though I still remain skeptical, it'd be good to see how the program goes- hopefully its a success...

Cyberknight:
Excellent submission - but as has been repeatedly stated in various platforms and publications over and over - Nigeria's problem is not that the government doesn't know what to do or knows what to do and is seeking guidance about how to do it. These people virtually live abroad, they see how things work and know how to replicate some of those things here if they really wanted to.

For all this country's deep problems, it doesn't lack competent people. Obasanjo, with all his faults, showed how it could be done - bring in technocrats, leave them to do their job, let them [try to] make Nigeria work, while the golden goose lays eggs for those in power to feed off.

But now, the people in government at all levels simply DO NOT want to govern properly and are just lining their pockets.

Well said... That's why I don't subscribe to the idea that the state of non functional aspects of our economy is due to a technological gap. The foundation upon which most economies of western nations are built are first principles that have been known for centuries... What Nigeria fails at are the very first principles

As an example, For thousands of years, humans
civilizations have build well organized cities... One now asks why most Nigerian cities designed after independence are practically slums (aside abuja). It just goes on and on in most sectors.
The stock market and mortgage system (which are pillars of Western economies) were largely invented before the coming of computers.... It's all basic economic principles of adding value to a raw product...

The stealing part is do annoying. In the outer world, people are naturally respected based on how developed their nations are. For all their stolen wealth, they'd still be looked down as corrupt African politicians in the West. What's even worse is that they stand to gain more by investing such stolen monies at home yet they ship it abroad at the expense of their kin

Theflint1:
Interesting idea but Nigeria isn't a country where people want to stay. What happens when these people start to japa. These people being federal government workers and private middle class employees.

The bulk of the work still lies with the government, or gutsy private business owners who can arm-twist the government into behaving.

This shouldn't be an issue.. dont forget as people pay, the percentage of their share in the house increases. If someone on a mortgage wants to emigrate, they have 3 options...
a. Sell the property (usually at profit), payup the bank loan and use the rest to move
b. Continuing paying their mortgage from abroad while they can rent out the house. Usually, the house rent would cover the mortgage
c. Default on their mortgage. The bank will simply take over the hoise and sell at profit

Nigeria is a country of over 200million. No nation on earth can absorb our population.
True, there has been an emigration boom in the upper middle class, but when you look at the absolute population of Nigerians in those developed nations, its a tiny minority. My point is that well over 95% of Nigerians will live most of their whole lives in Nigeria which is a large enough base.

Most folks in Western nations who retire to exotic Islands usually fund such lifestyle mostly by selling off a property they own or renting it out...

jedisco:
Ada is almost at a place where a re-accumulation looks good.....

Between 2.15 which was the prior weekly close and 1.8 which is the current weekly support should provide a good entry for the future...

With such entries, I don't necessarily wait for a particular bottom.... I just ladder in slowly

I like the formation on Ada...
So far, its held 2 dolls well which reminds me of how it held 1 dolls for the last 3 months inspite of what betece was doing.... I used it as a tracker then to guide what the coyn would do....

I'd be watching the weekly close on this keenly. If it closes green, that'd be a monster candle...

On the flip side, there is a potential head and shoulders on the daily chart (2nd)

During this dip, I largely repositioned my portfolio....

My reason for holding alyts are usually for two reasons- either I think the alyt will perform better than betece or I believe it's largely underpriced and would give a good rally with time...

I had converted some part of my betece into bnb close to the arrowed area few weeks back.. this cos structure-wise bnb looked to outperform betece.. Also, bnb looked good against eith (which is usually my altcoin benchmark)

What I did during this dip was ease out some of my bnb into other coyns that look like they'd outperform bnb.... These were ada, luna, one, cake...

Still looking at ftt, dot, sol and avax.,.

For the second group of coyns which I think will give a good rally if bitc0in goes on a run, I don't bother too much with swapping them... In this group, I have some shib, icp,

Next few weeks should be decision time that would mark how the year ends.....

Ibime:
Last selloff was structural after that palaver about environmental impact. I couldn't be sure when it would bottom as that was a major issue I could see impacting institutional investment

This time, I just dey follow your format of saying BeeTee will be the play for the time being.

I'm seeing this more as a retest of the weekly support. The coin was definitely going to get rejected in the 50's... though 52k was took folks offguard....was expecting 55k.

I think the next few weeks will be crucial to how bitc0in ends the year. If this week ends above the weekly support, that'd make it 3 weeks its held.... it can only hold fos so long before a good move occurs- preferably one to the upside.... The downside risk is significant as if 36-40k doesn't hold, stuff could get bad really quick..

Market sentiment seems mixed on bitc0in with most expecting an end of year rally. I'm a bit worried about this... Usually I'd prefer it when majority have capitulated and calling for lower numbers so they could buy... still seems most are in buy the dip mode..

Personally, I'm just reallocating my positions on a dip with the aim of getting more into coyns holding structure against betece.. this has been working well so far....

Ibime:
Every single one of these bids clocked in

Congrats on sniping your bids....

But this one you bought a betece selloff, usually, you prefer to permutate during a selloff and keep outta the market..... wetin com change your mind this time around?

For the short-term, one coyn that looks ripe is shib... Hopefully, betece doesn't nuke and scatter it.

Hot a chunk of it which I'd be keen to cycle into betece on a pump

Ada is almost at a place where a re-accumulation looks good.....

Between 2.15 which was the prior weekly close and 1.8 which is the current weekly support should provide a good entry for the future...

With such entries, I don't necessarily wait for a particular bottom.... I just ladder in slowly

Macktaob:
What's the target, boss?

No specific targets as I'd be holding it for a while....
Most positions I'm taking now are those I plan to hold for the next 6 months or till a significant move ensues...

What I do is take profits on a move up so I can add on a retrace

Miracle112:
2 hours left until the biggest pump signal of all time! Everything is looking perfect for a massive pump today.

- Our target will be 400%+ profit on Binance! We will be using the Binance exchange to pump.
- We will be using the BTC pairing to pump, make sure you have BTC in your account to buy the coin.
- Hundreds of thousands of traders will be buying at once, make sure you buy early before outsiders do.
- If you plan to use your whole balance, you can buy using 75% of your balance initially at market price, use the remaining of your balance to place buy orders!
- When you buy the coin and it's time to sell, never sell on the buy supports! Instead sell slowly in parts as the price goes up.
- Our pump will have many waves as our whales will actively be buying with our members to support the price, there will be a lot of possibilities to make profits many times during the pump!
- After buying, we highly suggest to place buy orders below the market price as the price moves up.
- Millions of traders worldwide will be watching and buying, we have put into place a few measures to spread the word out after our signal all over social media, we will attempt to make our pump last as long as possible.

This will be one of the biggest pump we have ever done and possibly our best pump to date, be ready!

Disclaimer: I didn’t write the above , just copied from #crypticpumps and paste here.

Interested persons should get ready.

With all due respect, can you stop posting such stuff here... Many people have lost money due to such scams.... You can put money in and tell us what you lost....
Posts like this make can make this place look unserious

jedisco:
I've not really benefitted as well from current breakout coyns...

Asides sol which gave 2.5-3x, I've been an onlooker for most... Usually, breakout coyns are easy to play and give good profits....

One coyn I'm now on is one... Already given me a 2x.... But then, it's broke ATH and is retracing....

I made a tiny purchase at 0.18... but then, most of my buys are laddered between 0.15 and 0.16.... if those bids are filled, I'd let ut be for a while

Got my usdt bids on One this filled yesterday.... Will look to fill up my bnb bids... Already showing a good response

From a HTF POV, those who enjoy a doge are those who accumulate at the lows and wait patiently for the pump to come....

IMO, if betece is to go on another rally, between 0.2 and 0.25 is a good spot to accumulate doge...
I'd be waiting for the weekly close in betece to see how it holds up

I'm not expecting similar x5 rallies like the last time given it's large market cap... But then, never bet against a raging bull

Ksm/betece is another one I have my eye on.... But I'd wait for the daily close on this.... Target would be 120 sats

BTW, I'm looking to take half of my betece into fiat at 50-51k....

If ksm hasn't moved by then, I might cycle some into it

Another is luna/bnb.. . Daily and weekly pictured...

These are breakout coyns and if they rally, tgey should rally good..

Ftt/bnb doesn't look bad for those willing to chk it out

Going ahead... Pairs I'm looking at...

Bnb/one.... (Daily and weekly)
Remember one has broken its previous ATH and is now consolidating.... Good chance it does move in the coming weeks

Also cycled some bnb into ada...

Ada betece is retesting previous breakout....

Ada bnb has lost the daily support but doesn't look bad either... Always like having some ada

On the last selloff, I looked to reposition some of my trades....

I discussed here why I had a good atash of bnb- cos it was holding structure against betece and eith....

My focus was in looking fr coyns that'd outperform it.

Cake and bake usually follow bnb.... Cake has been a stronger and more structured pair...

I ctcled some of my bnb into cake at after last weeks close at 0.049 (arrowed). Good response so far

Almajirihunter:
Hello Jedisco, good day. Can you shed more light on crypto staking

Staking can either be done on centralised exchanges such as binaz e.t.c where they lock your asets for the agrred period and pay you profits... Also, there are flexible options where rates are not locked but they pay lower....

Also, there are stake pools e.t.c

Another means is via defi (decentralised finance) which is an interesting aspect of crypt0. Here, there's not much of a centralised exchange... Here, lending and borrowing rates are sensible as funds pulled tof6are borrowed out and interest paid back... Everything is done on the basis of a software algorithm called smart contract...

Most info is available online......

For defi, this can be a nice video to start with


https://www.youtube.com/watch?v=B0FiTC_Pl3w

The Vice President, Prof. Yemi Osinbajo, who stressed the need for banks to invest in housing and electricity projects, said the banks were not doing much in supporting the federal government’s efforts in the areas of housing and electricity.

According to Osinbajo, “It is either the finance sector is shy to invest in housing projects, or have not found the right housing finance model that will work for them. Nigeria do not have a functional mortgage housing system, which is the most reliable source of generating capital for individuals.

“Banks should come up with innovations such as housing financing, by supporting poverty reduction and economic growth. Ubiquitous housing for example will create employment and generate demand for related services.”

Also, similar to my reasoning earlier, it's good to see our VP question banks regarding mortgage...

If there was one industry in Western, I believe does hold the potential to lift at least a million Nigerians out of poverty with far reaching implications for the state, it's the mortgage industry...

Lets take a well paid FG young worker for example... If that person wants to own a home today, they'd need to save for at least 2-5 yrs to buy land. Then they process papers >>> look for an architect to draw a plan >>> pursue approval >>> look for a builder >>> take the next 10 years trying to build an apartment block by block ... All this while, the person is at the mercy of the builder/architect as its not his field. Also, the well established builders are not willing to get bogged down on a single house for years I've seen well earning families struggle for over a decade to build their house. This impacts heavily on their disposable income for things like holidays e.t.c during that time....

Now compare th above to another system where Julius Berger discusses with the government for land title, builds standard apartment with facilities leveraging on the economics of scale, and put these up for sale. That same young civil servant goes to his bank and gets a loan of 75 million at < 3% interest (which he could realistically payup over his career), buys that apartment in a good area with a proper title, pays a little amount monthly (which most times is less than what he'd have paid as rent), has loads of spare cash for other things... With time, if the price of the house appreciates, he could even sell it, pay the bank their loan and have more money to go for a bugger one...

The government benefits with such a streamlined process... Building laws are adhered to, things like ground tax e.t.c are paid, with the right database, the government can target certain groups to support e.g first time buyers can pay little or no tax e.t.c...

Comparing the age-old buying land and building to tge mortgage system is like comparing cocoa pods to its refined components like bournvita, chocolates e.t.c... The mortgage system can be an economic miracle...

But then, the CBN could help in kick-starting that process by encouraging/funding credit rating systems... When you have that, the banks know who they could safely lend to.... The construction companies can then get to work

He was also upbeat about the proposed central bank degital currency, known as the e-Naira which is expected to be unveiled next month, saying it would foster greater inclusion using digital channels, supporting cross border payments for businesses and firms as well as providing a reliable channel for remittances inflows into the country.

Emefiele said when fully deployed, the e-Naira would ensure that Nigerians in remote areas conduct financial activities using their digital as well as feature phone devices.

He, however, pointed out that the support of the financial industry would be critical in the deployment of the electronic money, adding that efforts were ongoing to encourage continued partnership between the CBN and stakeholders in the financial industry.

https://www.thisdaylive.com/index.php/2021/09/15/buhari-rallies-banking-sector-support-to-lift-nigerians-out-of-poverty/

As I postited earlier, CBN has come out clear on the main reasons for the enaira. Foreign remittance was major... Unfortunately, measures put in by CBN over the past 1 year drove remittances into Nigeria via the crypt0 world. Though this is new, it does hold potential. While the enaira would still be equivalent to the naira, being CBN backed does give a platform for other crypt0 backed projects to grow on. For instance, things like quick loans, good interest rates e.t.c in the crypt0 world, just holding similar non-volatile coins can attract interest rates of upto 12%.
Also, I'm sure other countries will be closely watching the CBN experiment

dogtails:
Please my people I have a question about SUSHIUP oh,it was around 134$ February this year and now it's less than a dollar...Do u think it will go back up any time soon and what drives SUSHIUP to pump??

It's advisable to stay off leveraged token (i.e up and down coins)... You'd very likely lose money on them...

If you want to buy sushi, then buy the coin itself

Ibime:
I cut my loss at $160

I fit set bid around $120 area

With long wicks so far off the daily support, there's a good chance it bounces off the daily to retest 200... A daily close above this level could bring a new ATH...

Hopefully betece doesn't comit some fvkery in the interim

Tyche:
Make I set SL on my profit so far then. But will continue to play it till the eve of burn.

Thought we were discussing sxp (swipe) not srm (serum)

Ibime:
E be like say I go join you on BTC train sef. I'm almost out of ideas on ALTS that can moon apart from XTZ and Luna

The thing is that when bitc0in starts doing it's thing, most people will be buying more alyts thinking they're lagging... It's usually not until 2-3 months ahead that it becomes obvious that bitc0in was the play....

With bitc0in, there's no hurry... Likely it'd come down to low 40k to really test support.. lets hope it holds...

In the interim, I'm hoping a few alyts give good opportunities... Eyes on dot, one

Tyche:
Stealth burn and release on 30th. I have started DCAing

So far, it looks ok on the usd weekly... Not as well against betece

Wouldn't take a position yet as I'm limiting my alyt exposure for now

Ibime:
I fück up mehn. Was just frustrated with no selling the top for ETC, Matic and EOS and wanted something to quickly give me a quick break, recover my unrealised profits and exit into stables. We live and learn

Finally, my brother this market na school...

I'm more focused on my alyts retaining their bitc0in value....cos I know if bitc0in goes on a run, the alyt rally after that will make current prices look cheap....

Sol right now is a difficult one... It might find support and bounce heavily or it might have topped out... Also, from posts here, it seems a good number of people are stuck with bags.. The daily support would be a good place to expect a bounce...

Lucremoy:
made some very terrible choices this past week
my portfolio is bleeding
I am honestly tired

Look at the larger picture and rest well