₦airaland Forum

LutanFyah:
Solving the issue of insecurity caused by the herdsmen can be done in a couple of months if the president sees it as a problem. Banning Twitter didn't take days, sending soldiers to kill unarmed protesters didn't take months; the president can marshal out the same willpower and urgency in addressing the herdsmen in the language that they understand.

Technology transfer is not a herculean task if we put in the resources to get them. We have brilliant youths who can be trained in a matter of months to operate and service the machines.

We have good brains that can reel out feasible and thoughtful plans to bring food production to fruition. Our brother is in AFDB, our sister is at World trade headquarters and we have good heads inside the country.

We have been copying the west in many things,we can just go to people who have passed through this stage in nation building and copy their templates.


Willpower is just the problem we're facing in this country.

Good submissions... Though I believe the war on terror is still largely underrated and it's one that's unlikely to be won by brute force alone. These groups had been left to fester on for so long that they've built good network. Also, the number of easy to radicalise out of school kids serves as cheap fuel for their ambition.

Hamzashaf99:
It's a mainnet upgrade, even though I don't understand whatever that means. I just know it's highly anticipated and the price has not dumped despite the delay.

It looks like it still has legs
I'm looking to ease some of my bnb into it between 0.85- 0.9 which is a significant level on the daily and weekly

Also looking at similar setups among breakout coyns and ada

LutanFyah:
Progress can only come in our food production when everyone (leaders/followers) come to the understanding that we must feed ourselves and not depend on foreigners to feed us.

We can do this by securing the lives and farms of farmers from the terrorists fulani herdsmen.

Setting up a medium and long term feasible plans to ensure food security.

Fund and encourage researchs on food production.

Provide facilities for technology transfer for the basic or even the best technology for food production.

Incentivise agriculture and food production, and making it a gold mine for youths to tap.

These are good worded policy changes...
Putting in place practical measures to address each of them is quite different.... These measures wouldn't be accomplished overnight... Even developed nations are still addressing some of those measures at different stages.

See it this way, if you're made the CBN gov, or finance/agric minister, what practical measures will you put in place asap to remedy the situation

My point has always been simple... No nation goes from 0 to 100 overnight... It all has to start from somewhere... One step at a time

Thruout Jan to April, an ltc pump seemed to be the marker for a selloff....

This time around, the first selloff happened after an LTC pump... Will be something to keep in mind going forward....

Though I don't like trading ltc as it's one of the weaker coyns, it tends to respect structure against betece... Holding 1 or 2 to keep tabs on the market should suffice

Currently against betece, the weekly isn't looking bad... A close above support would be bullish

Of recent, most bounces have been led by Ada... it bouncing should be a good sign then

But then, I still think bitc0in comes to retest the lows in the next 1-2 weeks before a definitive move up

maishai:
I believe the whole move towards e-Naira comes as an after-mat of the END-SARS protest, I believe that after security Agencies Identified those spear-heading the movement, they used all their tactics in the book including cutting their funding source to Nigerian Accounts but hey many were now receiving big funding through Crypto, Go fund me, and co...........

This funds were not going through the traditional means that the CBN has controll over, It was just too anonymous hence the CBN and the Government were powerless during the saga......

They have learnt their lesson and are trying to control all Digital currency operations in the country.....The e-naira will just end up being an exchange to standard digital currency like bitcoin ........................

CAVEAT: these are my Opinions

Most people think that crypt0 is anonymous... Not really... Heavy crypt0 transactions can be tracked online... That's one of the issues the some Western nations have with crypt0- the lack of privacy...

If their intent was to control crypt0 tradind, the ban did the opposite of that... Let me give an example...cos crypt0 is regulated in the US, agencies there can request details of traders from exchanges, also people are mandated to keep track of all purchases they make and pay tax when due... The exchanges also send customers details to the tax body when needed... With what CBN did, they cannot demand any exchange furnishes them with details of any customer... If their initial intent was to regulate the space, they practically shot themselves in the foot.

Secondly, the enaira will simply be a crypt0currency valued on the naira... It's not new in the space and certainly makes no attempt at replacing bitc0in... There are similar coins linked to the usd, euro, gbp, cad... They'd all belong to a group of crypt0 coins which are not investment instruments but are just digital versions of fiat. The question now arises that if I'm going to keep an enaira in my digital wallet, why can't I then keep a digital version of the dollar instead...

Apart from making remittance easier, the other thing I see the enaira doing is expanding the utilisation of crypt0 among the general populace. Likely a number of people who are skeptical regarding crypt0 will be more comfortable with a CBN issued e-naira. Likely, they'd get the enaira thinking its an investment and not knowing is same as the naira... After a few months holding that (whose value will obviously be stable with the naira), they'd then be more curious about how other coins differ

maishai:
The more I read about agriculture on Naira-land, the more I laugh at Nigerians, We reek too much with this entitlement mentality........ When you enjoy a tin of peak milk, Never fail to see the labor involved especially the skilled labor involved,It will take African countries about 50 years to catch up with their European counterparts, Do you know the quality of research going on in the netherlands in Agriculture, How many farmers or even extension Agents in Nigeria read peer reviewed Journals not to talk of the application of knowledge discovered.........

Coys like Dangote that have tried Backward integration in Sugar, I beg to ask The skills this move has created in Nigeria other than bringing in quack indians to man over Nigerians that operate machines ................

If a fulani cow can only produce 100liters of milk while a fresian cow from Netherland can produce 2000liters from the same feed, My dear its not the Cows fault but the People surrounding the cows

The issue I have with is the perception that cos Nigeria has lots of issues, nothing can be done to make it better... So we should sit and buy products of other nations for hundreds of years...

Dangote is able to make cement in same Nigeria...same with air peace and aviation... It doesn't matter if its Indian workers or not... What matters is that progress is being made.

All being said, food production is a basic human necessity... If a nation of 200 million is importing staple food with no end in sight then such a nation is doomed...

I agree theres a technology gap between Nigeria and Western nations... But what I'm asking here is not same as asking a nation to go to the moon.... We don't need the latest tech to produce milk...the knowledge has been there for at least a hundred years... I've been to a number of farms in the west and I'm absolutely certain that virtually everything being done there can be replicated easily in Nigeria.

Indonesia and Malaysia picked up some of the knowledge on palm oil production from Nigeria... Not too many years back, Nigeria and those countries were in same boat... Today we're far behind them... My point is progress has to start from somewhere

BizBloke:
[color=#000033]Jedisco,
How far? Hope you've sorted out the loan ish - or still watching the market to see? Got banned by the antispam bot when I replied lol.

I took mine to fund a domain name purchase that Godaddy estimated to be worth about $11k. But before I could pay for it, the price had increased by 600% so it didn't make any sense for me to buy with my personal cash; decided to use future profits from creeeptoooeee...and it paid off.[/color]

Not yet.... Still waiting for confirmation... which seems to be in play....

If bitc0in successfully retest the weekly support and bounces off it over the next few weeks to make a new ATH, then I'm game....

I'm narrowed down to a few options now..

One is thru defi- on the aave/matic protocol... Noticed I could even borrow usdt and even get upto 5% interest for borrowing.... Sounds wierd... Defi is something else....

Another could be via bitfinex.... Their rate is reasonable... Don't have an account with them yet

Hamzashaf99:
Doing well so far. Waited for a good entry and it has a highly anticipated event coming up end of this month.

I don't want to fall for buy the rumor, sell the news, so I want to set a stop limit a few days to this. However I'm not sure this is right. What do you suggest please?

End of month is still far... What ebent is that....

I'm now shifting my attention to coyns that have broke ATH.... It's much easier for them to rally

Talking about the enaira....

Its interesting that one year after CBN sponsored a campaign to brand crypt0 users fraudulent, they seem to be in a hurry to issue one...

Their enaira would be equivalent to the naira hence hold same value as it and be a legal tender...

Now while I can't criticize the idea and would rather watch and see how it progresses, but then, even as a crypt0 enthusiast, my concern is how quickly it was put together... It's obvious CBN wasn't thinking of this a year ago and seemed to get there in desperation...

First it seems the company in charge is actually a foreign one.... whoever handling this is same as handing over our mint to them. Such programs especially when government backed should have proper security in place... One of those is by ensuring they're home based if possible... That way, the nation has some regulatory control over them. A foreign company is subject to the laws of their home nation.

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...

That aside, who would have thought that a year after branding crypt0 users criminals, we are now the ones calling on CBN to apply caution with their hurried foray into the sector.... Goes to butress one fact I believe in- that just like the internet did with communication, crypt0 will change the face of finance and value transactions in ways we have not yet imagined

Talking about how macroeconomic policies can be far reaching....

A while ago, when CBN in search of forex noted how significant foreign remittance was moreso with FDI reducing, so they looked to harness it.

They wanted to streamline all remittance to ensure the actual forex was transacred and not left abroad.... Not a bad idea

First they placed some restrictions on crypt0 as it was a good route of remittance. Next, they banned account of remittance companies and mandated them to go thru specific routes...

The new rules meant that for anyone living in Europe looking to send money back, the person would;
first convert their currency to usd
look for someone back home with an account in the required bank and adequate ID to send the forex to
That person would then withdraw the usd, sell it (likely to bdc) and come back to deposit the naira...

This new process was supposed to replace the previous process whereby folks could send money back with the click of a finger...

It was obvious it'd fail....
CBN then moved to incentivize folks by giving free naira for every dollar sent thru this route... Again, it failed as the market rate quickly adjusted.. They did not realise that doing that was effectively devaluing the naira....

Now what happened to folks in diaspora was that when they saw the new hurdles in sending back money, they resorted to other means. The young tech savvy who previously were not into crypt0 decided to use it for remittance, the older folks used smaller but trusted groups or persons who were still largely remitting via crypt0...

The result was that while the remittance (via official channels) has dropped by about 25% over the last year, Nigeria linked Crypt0 transactions has risen significantly over the past year despite the ban


CBN seeing all this has now decided to introduce an e-naira... I.e a crypt0 version of naira to make remittance straightforward...

So the point is, a CBN policy that was supposed to discourage Nigerians from using crypt0, boomeranged and ended up driving more Nigerians to use it... Not only citizens but also the CBN.... All this within a year

My question will then be... Did anyone at CBN really think that introducing such bottlenecks with remittances was going to work?

Willie2015:
Coy like Nestle are built to make profit as a corporate entity.....
Local content dev/CSR is just step forward to give back to the society....
FG cant abandon its core responsibility to Nestle and other corporate entity......
FG should provide the infrastructure and enabling environment......
Biz will thrive....
On the milk issue... the direct beneficiaries/target of the WAMCO program are the Fulanis....
Thats why the program is promising in Oyo state and its environs...
Take the Fulani out of the equation, that program is dead...
Ekiti govt even had to import over 200 dairy cows from the US alone .
Its not available....
An F1 cross of Friesian dairy cost over N600k...its also not readily available for supply...
U still have other inputs like land, building, cost of feeding of these cows and mgt...
I ve visited WAMCO Iseyin office ....I ve done the maths ...
U will not breakeven for a long time with high cost of inputs in Nigeria.
Simply put...our products are not competitive in the market...
As long as the above hold, coy like Nestle will be force to bring cheap imports,,,
Rather than establishin production base in Nigeria.
Go and read about the Zimbabwe farmers in Kwara that closed their dairy milk farm..
to start a broiler farm.....
D value chain is simply too chaotic for business to thrive....
CBN can only do little if FG refuse to create the enabling environment ...
My 2 cents.

I agree that the FG (incl the CBN) needs to do more in providing an enabling environment... Part of that could be to arm twist multinationals into backwards integration like it's done in every country... Western nations are still fighting to get jobs their multinationals had moved to China back..

That Fulanis benefit from Wamco inititiative is equally as good as anyother group benefitting.. Fact is that it doesn't stop there.... Forex (no matter how little) will not be wasted on importing that milk, those herders will not roam their cows far hence reducing clashes....e.t.c The whole nation benefits...

Nigeria has a lot of challenges, but there's always a way to start making progress... If the only viable means by which Nestlé can operate in Nigeria is by importing milk (which is what any trader can do) then their continued stay is detrimental to the nation and the government should ease them out and not give them cheap forex. I wouldn't mind Dangote and a few indigenous coys taking over that sector... At least, he'd search out a way to ensure good degree of local production

Jerryherd:
Dangote is secretly planning another industry takeover, soon we will all be at the mercy of his monopoly

The huge billions he is pumping into diary farming , importing cattle breeds from France and Brazil

What stops others from joining him in that monopoly...

Or is better we continue to import milk from much smaller nations?

Harmony One has had a quick bounce...

It looks programmed to break ATH....I had taken some profits earlier at 1.8...
I'm looking to play this on the 4hr support except if it begins an uptrend from current location

Keep moreso...

Shared this on the other thread... It's a new coyn and hasn't built as much structure but so far, it's held the daily support well... Was obe of those I added to....

Scanned the market..

I added to some of my micros as I liked how some looked....
Fuel used was from profits taken from ONE

For those who asked, these are the micros I have in my portfolio now....

Of late... Ive been looking at the defi space as a good opportunity to earn good stash this run... Moreso stuff like AAVE protocol... It's now I'm beginning to understand why eith went on a huge rally last year.... The more I look into it, the more I'm amazed at what crypt0 has become... Will be putting in some hours into it this weekend...

Macktaob:
Do pls carry us along as you do that.

Can't believe this second bull run this year, I still have regret of impatience; selling my $sol at $115.

No need to regret... You made good profits...

I also sold majority of my sol at 2-3x... Mow, its approaching 5x from ATH....

Usually, when I catch midcap breakouts, I ride them and start taking profits at 4x with most out at 5x.... I didn't think the market was ready for such sustained rallies... Hence I cut my sol early....
There'd always be more opportunities... That's the beauty of crypt0

Looking at relatively new coyns like sol, ftt, even Aax and luna breaking out and doing well... Seems I'd start targeting some breakouts.... That can be an easy x5 in this space

Usually, old coyns have too much bag holders willing to sell into every 10% move

[quote author=wwwtortoise post=105566300]The thing is that I’m still indecisive.
I guess it’s best for me to just observe how the market will play out in coming weeks (for the majors).

On the other hand, an e-friend on mine called my attention to something called Royal Q

https://www.nairaland.com/6640664/royal-q-robot-trading-binance

What do you think about this crypto trading AI bot?[/quote]No idea... I've not used bots

Hamzashaf99:
What's your thoughts on Luna? I know it's not a coin you normally trade, but I would love to get your insights on it. Also broke it's ATH and now seems to be consolidating?

Not one I've traded... Looks like a new coyn.... It Just broke ATH and held well on the selloff... Just like most relatively new Looks like one which still has legs to run..

I'd wait for the market to settle and look at it again

Ibime:
How you see market oga?

Shared above... Good chance the weekly support is tested in the coming days to weeks... Above this, even alyts should be ok

Macktaob:
I am actually looking if to sell and go wait for the knife.

It's your decision to make though I've noticed that most folks who want to sell low to buy lower end up selling low to buy higher....

Macktaob:
Do you think we would be seeing 38k and lower?

Step at a time...

Support now is at 40-42k...

After that the next support os at 35-36k

Then 30k which is a major support..

Folks asked for 42k last week... Now its here, people will ask for 38, if it dips there, they'd ask for 30k and so on and so forth... At a point in time, one has to decide when to buy based on the HTF and stop moving the post and end up chasing a pump....

luvlyoracle:
Pls what are your thoughts on btc
Is the 2012 and 2017 charts replicating already?
Oga jedisco and open heaven I need your input

To me, the major deciding factor is if 60k is the top of this bullrun or not...

If it was, then yes, you'd expect lower highs and lower lows... Similar to 2017

If it isn't, then 60 k was the first peak and Bitc0in will go on to form another peak ... The 2013 cycle had double peaks...

I gues that question will be answered in the coming weeks

Yesterday was another reminder of the volatility that brings folks to crypt0...

This is looking like a retest of the weekly ema...

To put things in perspective... That's usually a line in the sand between bull and bear... When bitc0in bounces off it and maintains a trend above, then a bull market ensues....

Knew the restest was going to come, but then, it came quicker than I expected.... Was looking at a push up to at least 55k before the selloff...
Eitherway, if this is the retest than pushes prices higher, then I expect that support to be tested and tested well over the coming days to weeks

Targets on harmony one were hit at 0.15 before the selloff.... Got back in at close to 0.1

Around the weekly ema, bitc0in tends to outperform other coyns... Thats something to keep in mind...
Goes without saying that a good number of my alyts are back to or close to entry... One thing clear in crypt0 is that a day when most coyns are 20% down is not the day to sell same also with buying on a day when coyns are 20% up

Morning my people.... Hehe

Jumpingdque:
I am Dr. Chijioke Chukwuemeka Anthony, a native of a Enugu State and a member of Nigeria NMA, NDA and MDCN, Trained in University of PORTHARCOURT and completed my Housemanship at University of Calabar Teaching Hospital.

@op... Doctors are to be of high IQ... Take this stuff down...

The mdcn doesn't care about such and the oath you guys took doesn't cover such...
Your wife cheated on you, deal with it... Pick your self up and rise... Don't go crying about

Got into this at 0.35... Waited weeks for it to move...
No plans to sell a kobo until 0.6.... maga must pay

Why are alyts bleeding when bitc0in is rallying... Usually, thst happens when bitc0in is at resistance or abt to make a move.....

Finally, the ladt alyt I'm looking at.. Avax...
Broke ATH at 40 ablnd us now consolidating... Such stong rallies usually have a part 2...

Trading breakout coyns can be very profitable as we've seen