₦airaland Forum

Since the selloff, yesterday's close was the first above the 21day ema.....

The level to flip is 37.5k-38k which was the previous resistance

Still mainly on the sidelines.... Had bids set at 33-34k.... But the coin bounced at 35k at rallied quickly... I'd look for bids on betece or alyts when things cool down

Over the past 4 weeks, it's interesting how many times betece bounced between low 30 and 40k... Most of those moves would are at least 20%...

The funny thing is the number of people waiting for 20k....... it'd be interesting if they finally buy above 40k

Bottoms are usually obvious in retrospect....

Neverlosemoney:
I find everything Hateful a long time ago. Mostly, the moment people begins to think, they have a chance of making millions using peanut by going after Shitcoins!!!! Those were the moment the qualities of what is been posted here, completely changed!!!!

Hehe... Sometimes, the market has a way of regulating certain things.... If betece goes into a prolonged consolidation, then, with time, most of the posts will reduce.... By the time there's no crazy pump for a few weeks and some coyns go illiquid, people will generally rethink...

Afterall, posts asking for coyns to hold for the long-term have almost disappeared after the selloff...

Ibime:
Never had a problem with being patient. I don't trade all the time, although the last two weeks of inaction has been a bit frustrating.

I am personally waiting to see how people react to a death cross I think should be due within the next 8-10 days before I do anything. If BeeTee escapes the death cross range, then I'd buy the breakout, otherwise I'm happy to see if further bottoms are coming if the death cross scenario plays out.

Stables are on the sidelines waiting. No rush.

The death cross is as good as locked in already... It'd take an extraordinary pump to 60k or above for it to be escaped (which I don't see happening soon)... It's quite a laggy indicator and would usually tell what's already known.... Also, sometimes the market does the opposite of what the cross portentds in the short-term.

One can still make money even when the market is ranging or even trending downwards... Esp with bitc0in which usually respects structure....

One thing I think alot are mistaken is expecting bottoms to feel like tops... Market is always euphoric at the top and bearish at the bottom.... And bottoms only make sense in retrospect as there'd be a bunch calling for lower prices at the time... If 30k felt difficult to buy, 20k will feel much more difficult. Fact is very few will buy a 20k betece if it dips there....

I'm largely in fiat and wouldn't mind sub-30k betece to load up for the long-term, but also, it wouldn't surprise me see bitc0in holding 30k and rallying from to the 45-50k level before further rejection..

Is it just me... Or do folks sometimes find the quality of stuff on this thread a bit annoying with all the scammy aitdrops being pushed at every corner

Codebite:
My biggest mistake was not knowing when to quit this crypt0 of a thing...

Lost 80% of my entire savings to crypt0 baba God will someday see me through....
Let me face my job and other side hustle, I guess crypto was never for me.

From TCT to burger to klv, ksm, btt doge and some shitcoins I'm officially rekt.
I'm fervently observing Musk and all those pushing FUDs up and down, they've rendered people mentally insane. By now I suppose done get myself a nice ride but instead I poured everything into crypto cos naira was unstable


Kudos to everyone doing great in this business. Paytience pays but I guess I've been too patient and refused to take profit. I'll have to delete all my apps so that I can move on with my life... Maybe I'll check back next year, hopefully all my money will come back

We all make mistakes... The good thing is to learn from them and see what could be differently done...

Not to blame you, buy looking at the coyns you mentioned, most had gone parabolic... I'm quite sure you rushed in after they had pumped crazzy......



I still believe the safest bet for anyone entering this market is still betece, eith and some majors... Yet alot think that those coyns are expensive or too slow...
I don't fight the market cos it's not my money that'd change the trend of the market....

You might want to take some break from the market and return wgen your head is clear... More importantly, when returning, don't chase green candles

A quick one....
The Betece dominance chart.... This is simply the percentage of the total crypt0 market that is due to betece...



It's a weekly chart... Since Jan, betece had been slowly bleeding against alyts.... Hence the alyts party...

It's now bounced off the 40 level which is a significant one dating back to 2018... The last time betece dominance was that low was also in 2018 when it dipped to 36.. that was also the peak of the alyt season...
Looking at the chart, there's ample room to the upside, i.e there's lots of room for bitc0in to crush alyts

The point is simple..... This market moves in cycles... No need fighting it.
Alyts had about 6 months of an immense rally, perhaps it's time for betece.... We've enjoyed trading alyts going parabolic while betece was stuck between 50-60k. Now the risk of trading random alyts is not worth it.... Even if I would, I'd stick to 1 or 2 majors with good structure and get in at strategic times when they're at support.

Ibime:
Confidence is draining slowly from alts

Abeg jedisco, please come and advise us what we should be looking to do

Market has been slow and I've been caught up with oda stuff...
Still in stables like I mentioned last time.... Nothing much has changed.....

Last dip on betece was a 3rd test of the 30k level.... If it dips again, I don't like bidding the 4th retest of a support.... What I'm looking at is the 33-34k level for a possible bounce... Below that, I'd just let the market develop.

pizapato:
The only idea coming to my head is getting a debit card for the domiciliary account, then use the debit card to buy stable crypto on exchange. Sell off the crypto some time and withdraw the dollar to Dom account as inflow.

This should also work for platforms like Bamboo and trove. In this case one will buy US stocks after crediting Trove/Bamboo account with the debit card

Two things I'm am unsure of about this is
1. If it is possible to use debit card linked to Dom account to buy crypt0 in Nigeria, considering most transaction is priced in dollar but transacted in naira.
2. If it is possible to withdraw dollar directly to Dom account from an exchange like binance.

Let the crypt experts please help us clarify

Eventhough stable crypt0 coins are equivalent to the dollar, you can't switch withdraw or deposit them into usual domiciliary account...
So it's either you choose one route or tge other...
One is the traditional route of converting to dollars or seeking dollar denominated funds...

If going via the crypt0 route, you'd have to register on a crypt0 exchange. Exchanges are like the banks/marketplace of crypt0.. You can then buy stable coyns via P2P (person to person).. This is like an escrow service organised by the exchange to ensure safety...
After buying stable coins, you can do two things... One is to withdraw it to a private wallet and whenever you want to convert it, you send it back to the exchange to sell into naira.
The second is to save or stake it on the exchange. This is similar to fixed deposits in a traditional banking system... Rates here could vary from 2-3% apr for flexible savings to 6-8% apr for fixed term savings (which usually don't exceed 3 months).

Worth noting that stable coyns are transacted based on market rates not the cbn rate

Ibime:
Same reason you did 4x on Doge without believing in it

Na liquidity we dey find.

Crypto is a pyramid we can possibly play for 10 years. We don't need to believe in it fundamentally, we just need others to believe in it and jack the price up.

I believe in the price action, not the fundamentals. Same as GameStop or AMC.

Hehe... Na u sabi....

That time was to maximize profits of a treme6 rally...

Now, it's to stick to why I'm here in the first place

Redcup:
please sir, is "Shiba inu (Erc20)" and "shiba inu ;the dogecoin killer(Bep20)" the same? I bought shiba inu on binance for a friend. Which of them do I send it to on trust wallet?

Hehe... which one be dogecoin killer again

I've never owned shib and haven't used trust wallet that much. Might be better off asking ibeme...

Infact, after being stopped out on my alyts, I've decided to wind up my alyt portfolio... Not worth the stress and no need fighting the trend.... I'd be focusing mainly on betece and only alyts that are performing better than it.......

Kantebets:
I will like to learn from u sir
Which books do u read sir.U get pdf?
I plan to watch those videos later

Those are good resources which will be a good place to start.......

I haven't read much books on trading as I'm not a trader per se... But looking for good resources ain't difficult...

My view of bitc0in is this... It'd usually give 2-3 opportunities every year to make at least 50% profit which is a good ROI if you ask me....

Identifying those opportunities are not as difficult as most think... The news of the market crashing will be everywhere... The weekly RSI will usually bottom about once a year which is usually a good time to buy.... Generally, trading the bigger picture is much less stress

Kantebets:
from which sites or is it YouTube videos

Videos, reading, studying charts, following smart folks e.t.c...

@Ilegend mentioned a good YouTube channel which I look at from time to time... Another is one by Benjamin Cowen and the last by Bitc0in jack... They all have their own ways they approach the market...and with time, you'd see what you resonate with better and focus on what matters

It's worth noting that when watching analysis, the point is not to see who can predict certain moves or not....cos no one can.. But rather to see the thinking behind a certain thought process and interpret it accordingly....that way you can begin to see things for yourself.

CryptoMatic:
I wonder why you didn’t say all these things when crypto market was making ATH few weeks ago

Hehe... When the market is sweet, everyone enjoys the romance....

condomuser:
El Salvador, Argentina all have one thing in common, they are not financial market hubs. Their use of crypto is to get out of mysery with hyper inflation choking them.

It's easy to forget that Nigeria is quickly heading down that path....

As far as fiat exits, it's inevitable that from time to time, a number of countries will have currency crises...

Although still quite early, just as the 2020 bullrun is being fuelled by institutional adoption, I believe the 2024 bullrun will be fuelled by nations adoption of crpt0 (not necessarily bitc0in) and blockchain in a broader term....

Right now, most developing countries have their reserves in the dollar... That gives the US a leverage to print dollars out of thin air..to the extent that over 20% of dollars in circulation was printed in the last 2 years... sooner or later, some would start asking questions

Kantebets:
add me to a training group where I learn the basics on technical analysis
0903464506zero

I don't have a group perse... Most of the stuff I learned online

Elsueno:
Fascinating, so some people don't even believe in crypt0 but still went ahead and invested in it. Some Nigerians are really special set of human beings.

I will never ever invest in something that I have doubts in, especially so if I think it's a ponzi,

That's the part I find interesting.... If I think crypt0 is ponzi and ultimately going to zero, I wouldn't come near it at all... If not anytime bitc0in sells of (which it'd do from time to time) I'd keep asking myself if today is the day it goes to zero.... That's interesting

It's like thinking the internet was useless and still buying Amazon shares in early 2000...
Or thinking electric vehicles wouldn't catch on yet still buying Tesla shares in 2010
Or thinking PCs were useless yet still buying Microsoft shares in the early days.....
Or holding the dollar if I think it'd go to zero.

Also comparing the valuation of bitc0in to shares is not a clear-cut one... as obviously bitc0in doesn't have any underlying company e.t.c...
The value of bitc0in and blockchain comes from the utility it provides... That's why I prefer to compare it to the internet in the early days....

Ibime:
Fundamentally people are prepared to pay a price for shares based on dividends, future cash flows and at the very base level, underpinned by the companies net asset value. In the event of a calamity or we no do again, those assets can be sold and distributed to shareholders.

There is no such thing that underpins Crypt0 except what someone else is willing to pay for it

The technology you say underpins Bitcoin is easily replicable infact.

Even blockchain technology can be issued and we don't need a currency to use it. That's exactly what China is doing, which is why they got Weibo to ban all crypt0 talk and advertising in preparation for them to launch their blockchain. This is Ethereums selling point and easily replicable. No one should need a currency to access a blockchain, simple.

Tomorrow if Google and co release their own blockchain and make it free or subscription based, it's lights out for Ethereum, Solano and co.

What valuation do we place on Governance tokens? Why should the ability to vote on how Uniswap write their code be worth billions. UniSwap only released token because SushiSwap did. They said they might as well make money from something completely not linked to the use of their platform.

Let's be frank, Crypt0 is a pyramid, but we are loving it.

In the real world, when companies go bust, shareholders go with little or nothing... Most Nigerians who bought shares during the 2008 NSE rave are yet to recoup their capital 12 years after.

The increasing price with bitc0in doesn't just come from what people are willing to pay but from the value of the tech that underpins it... If it was all about what folks are willing to pay, bitc0in would have been long dead..

With crypt0, the tech is tech is open source and can be easily replicated (as many have done).. Which is why we have lots of no use coins... With time, the wheat will seperate from the chaff.

But that's not really my view. My POV is asking myself if crypt0 and the blockchain tech has come to stay. I believe it does and has continued to offer an increasing use case around the world...

For example, a good number of people in countries with galloping inflation are turning to stable coyns to escape that.
Also, most remitances to Nigeria now are done via the crypt0 simply because of the bottle necks the cbn introduced.

Thats why I'm heavy on bitc0in and eith because I believe they both would stand the test of time... Most other alyts are I trade are to benefit from the budding sector...

Frankly speaking, if given the choice to choose between holding shares of a company and bitc0in for the next 10 years (without trading), I will struggle with to choose any over bitc0in...

If we look at the internet based dotcom run of 2000... Lots of companies came up which eventually went to dust. But then, that run also helped to birth the internet giants we have today. For the past decade, bitc0in has stood the test of time


But lemme ask, over the next 2-3 years, how likely do you think it is that the price of bitc0in will get to 45k? (Of course, nothing is certain)

plat0:
Too complex. When you take all these things into consideration, at some point you'd be swayed over by the school of thought that Crypt0 is just a glorified Ponzi scheme.

Perhaps.... But then, if you think it is, it'd be advisable not to trade it. I can't convince you it is or not... It's a decision you'd have to come to yourself.

On the other hand, if I'm going to put your money in a market, I wouldn't consider looking into four items complex

Before I started trading crypt0, I did extensive reading on it, watched the market for a long time, and slowly got in when I convinced myself it was worth it. There's been ups and downs, but overall I'm grateful

Before I buy any stock, I like to look at up to 10years of data which is much more cumbersome and usually difficult to find..... Sometimes, I've had to travel or pay to get information/advice on certain investment steps.

That's why the general advice is that if you can't do the work, then get yourself a financial advisor. Cos there's no free lunch anywhere.....

plat0:
What are the metrics you look out for to ascertain if a particular coin is overpriced?

Most times I use bitc0in to guage the valuation of the market...
There are a number of models out there which have proven to be quite accurate.. one is tge stock-to-flow model, another is the logarithmic growth curve... You can find them on the website lookintobitc0in.
Also, moving averages are useful... Especially on the weekly charts...

Movement of alyts will depend largely on what bitc0in does... So with alyts, I prefer to time trading them based on where the market cycle is and what bitc0in is doing at the time

It's a red day and as usual, the emotions are brought to the fore...

Bearish PA's are good in reevaluating why we're in this market in the first place...

But I'd add that if you think that crypt0 is going to zero, then you shouldn't really be in crypt0 in the first place... It'd ve too stressful for you. If I felt a market would ultimately die off or was ponzi, I wouldn't be anywhere near it. It's too much stress to keep asking yourself if bitc0in is going to zero anytime it sells off

Also, it's worth remembering that most coyns have no use case and bitc0in will outperform most in time... No need fighting the trend...just use it to your benefit.

nna777:
I remember last year March when stocks where nose diving globally. GTB, ZENITH & WAPCO fell to #17:80, 10:60 & #9 respectively. While some people were bringing doomsday prophecies others were averaging strategically. Fast forward one year after, GTB, ZENITH & WAPCO reached #38 #26 & #35 respectively before they started correcting. Virtually most listed coys with good fundamentals on NSE returned over 100% while those who held either broke even or had profit of over 40%.

What am I trying to pass across. Same is taking place in the crypto market now. All kinds of doomsday is flying around. As long as you bought into good projects with future potentials, one year from now, the story will be different (bookmark this post). 90% of my holdings are in Ada & Matic. I haven't sold. Still observing but i will strategically average down if Btc drops to $20k to increase my hodlings.
If you have been in this business for a while, you will understand that a year from now, there would be transfer of wealth from the weak to the strong.

Adios Amigos

Thanks for this...

It's easy to forget that Ada even at current price is over 10x from this time last year... That's why I believe that with the volatility in this market, overtrading it can be a potential for disaster... If bitc0in dips to less than 30k now, whatever bitc0in I buy wouldn't be sold for less than 50% profit whether it takes months or not. I wouldn't make such projections for most other assets I own


The raw nature of the crypt0 space makes it bring out the very bare emotions... At the top, it's irrational greed, at the bottom, it's brutal fear... The rallies are glorious, the corrections are bloody...

TotoNaRubber:
By weekend it will dip to $15. There is no magic money in crypt0, it is a pyramid money market, 100 people bring in money, it rises and 20 people take out it falls.

Now more people are taking out than more people bringing in due to life after the lockdown is getting back to normal. It was going to fall like this anyway if not for Elon's endorsement that has helped in pushing it up.
Beware, some that bought at the top have averaged out of the market while the not so smart are still waiting for crypt0s to skyrocket to the moon, it is a make believe, there is no practical technology in crypt0, it is all created with hope for adoption but the aim is being defeated.

Crypt0 is a volatile market and most projects have little use case. But then, there are 2 concepts you are mixing up.

The rise and fall in price can be said of most products out there. The price of an item is what someone on the other end is willing to pay. That's why prices of items vary. Take stocks for example..same narrative you painted can be said of stocks... It's all about what someone on the other end is willing to pay and that's why the prices are not stagnant... With stocks, it's the belief in the company that makes folks value it... With crypt0, it's the technology backing it....

Talking about the technology that backs crypt0... Take bitc0in for example... It's an instrument where folks can store value, transfer that value seamlessly from one point of the globe to another instantly and almost free, carry that value securely in the most minimal ways possible, and can be traded in hundreds of countries around the world. Alot more can be built on that...
I liken crypt0 to the internet of 1998. Reading some of the dooms day narratives against the internet then look funny today.

Take a step back, look at the big picture.. there's a reason why a number central banks around the world are working on issuing a backed crypt0 asset.

That's the only reason why I'm in crypt0... It's because I believe in the usecase of the tech that backs it. I believe that it's bound to grow in adoption with time as it's currently been doing...

Regarding price, it's worth remembering that the crypt0 market cap has put in new highs almost every 4 yrs... That's remarkable in investing. The NSE is currently trading at about half of the high it created in 2008. Yet, even after 14yrs of being in a downtrend, I wouldn't call it a ponzi scheme...

There's always a narrative anytime the market goes up/down do I don't usually bother myself about them. Of recent, there's been very positive news in the space yet a bearish market structure has not responded to them. In the end, price will do what it'd do.

sconp:
Looks like it played out after ranging a bit

I don't think it's the one playing out... I wouldn't call that a head snd shoulder...

What I see playing out now is a breakdown of the symmetrical triangle..... Also, with the triangle already at the apex, it's less likely to be a fakeout... except it morphs into another pattern

What's more concerning is the betece dominance (2nd pic).... It's looking like a retest of the level it bounced off during the last selloff... A bounce of the dominance here (which is already happening) makes sense.... That'd see proper capitulation in alyts...

Thankfully, I was stopped out early yesterday... I'm not playing this... Happy to wait and see how the next 48hrs unfold....

jedisco:
Ltc and link have had a distinct weekly pattern for a while now... Which is usually 2-3 weeks green and 2-3 weeks red...

The 2 previous weeks have been red for alyts... And with this week looking to end green, I'd lean towards next week also being green for alyts...

A good number seemed to have had some mini consolidating over the past week and are primed for some rally... Ada, bnb, LTC, bch, aave, yfi, xrp/xlm, dash, eos are those I'm in/looking at......
Obviously, the market is still cautiously recovering if not already in position, jumping in on a green day aint usually the best...

Seems we finally get a good green week... Still being cautious and utilising stops as market is still shaky.... But so far, it's looking good

I see alot of people still chasing after unlisted coyns....
I usually will not discuss other people's trades but on this, I'd say it's worth treading with caution...

Alot of folks came into the market during a huge alyt coyn boom that last happened 4 yrs ago... It's not always that way... If bitc0in is going to go into a longer consolidating phase (which seems likely), alyts may not perform as well and we may not see lots of the multiple percentage pumps we saw over the past few months for a while....

Also, whenever another alyt season resumes, it'd come with new coyns as the old ones will have too many bag holders... So holding some and waiting may not make sense. Alot of pumped coyns in past rallies cannot be sold today as they're worthless with no liquidity.....
Lastly, betece dominance is doon due a bounce...
In this market, no one wants to be caught offside.

NaughtyBrainiac:
Hello Guys,

I'm new on this thread and I've never bought or traded Crypt0. I have gone through some pages to have an idea how it works.

I know some guys that always have B eTC to sell. They don't hold and they don't trade. They just want naira value.
I am thinking of the possibility of being a middle man by selling to someone on this forum.

The plan is to get a reliable person, have a potential seller transfer to the reliable buyer's wallet and the buyer will transfer naira after confirming receipt.

The reliable person(s) will be determined by notable/trusted guys here. Scammers should not think food has landed.

I want to do this pending the time I will be able to open and verify a Binaze account. By then, I should have funds and I can always have the sellers transfer to my own wallet.

Kindly tell me your view/advice on my plan.
I have noted some names here, I think it's cool I just mention them in this post so as to also seek their advice. Thank you

cc: jedisco
sailor1
openheaven2019
Priceaction
Notyamate

Thank you

Hehe... You're new to crypt0, you haven't bought any coyn yet but you already want to be an escrow service... Take care not to be scammed...

For whst you want to do, my advice would be to register on binance, and use the p2p option.

Tobex4realTobex234:
I almost wanted to doubt my mum when she said sand of 38k is now 70k.

I have stopped waiting for prices to drop and just carried on as I'm able... Cos it seems prices keep rising...
Obviously, folks who can easily pass costs over to the consumers will benefit more

wwwtortoise:
It is pathetic.

Many schemes and policies that see daylights are in favor (monetarily or politically) of the “sacred cows”.

Sharia is blinding the northern youths from their atrocities.

If they succeed with gagging SW & SE with bans (crypt0, twitter . . . ), border closure and other detrimental policies. Then it’s going to be a long wait to 2023.

Hehe... Nigerias problem is a longstanding one which cuts across and has unfortunately worsened of late...

Just look at the fuel subsidy debacle that has carried on for decades.... What's even more interesting is that the amount spent on TAM of the refineries over the years is more than enough to build new ones

pussiboner:
If one should advise you to convert "some" of your naira to dollar. It's a possible investment choice which one could explore due to the current situation of things.

I ask this question, what happens if Naira goes back to N380 in December?

I still don't see why someone earning in naira needs to convert to Dollar. What are you trying to achieve especially if you still need to convert the money back to naira to use.

Good question you asked.... I thought same in 2014-2015 and felt foriegn investors rushing to leave the country then at black market rates were being overly fearful. Perhaps they saw something I didn't...

There's an associated risk with every decision.. that's why one doesn't test the depth of a river with both feet... The naira might appreciate to 380 by December..same also it can depreciate to 550 by December...

The good thing with the naira/usd is that we have over 40 years of data to look at... In investing, I appreciate trends... Whether it was during IBB, Abacha, Jonathan or Buhari, at no time over the last 40 years has there been a significant gap between official and black market rates that the naira did not continue to devalue... As a matter of fact, the only periods the naira appreciated against the dollar were periods when the rates merged...

It was when I saw this and knew that its almost impossible for the naira to appreciate while having two rates with a 20% difference that I made my decision....
My plan is simple, as far as the CBN maintains this dual rates (which they are keen on doing for now), I'd hold a significant amount of my savings in usd and try to lock ip the rest in local assets (not just leave it in the bank). Whenever both rates merge, I'd cautiously move back into the naira and invest and wait for the next time such scenario repeats

I don't have access to cheap dollars and I don't run a business where I easily can pass costs on to consumers. So I have to protect myself for the future.

Lazyyouth4u:
I agree with the bolded. You can only beat the Naira for sure and not lose money by keeping the money in USD and then convert when needed.

But the question I keep asking is if you go to mallam and change the money, will you just keep it at home and be changing to Naira when you need Naira? What about Omila? You go just dey see omila for dream until HBP strikes

You can’t use dom accounts if you are a guy with millions in Naira because of CBN regulations.

You can’t open offshore accounts if you are not a resident of the country where the bank is. There are ways around this but most people can’t do this.

So how should people do na? Nobody is answering this question.

Tobex has explained how to do it via certain banks with local branches...

For me months back, I converted most of my savings to stable coins which are based on market rates. Then rate was below 400... Now, its over 500.. And afterwards, didn't keep unnecessary sums of naira in the bank... Always looked for something to put it into...

Understandably, this pattern may not suit everyone... But if say I'm saving to buy a car or land that'd take a while to build up the sum, keeping a chunk of such savings in usd would make sense as that'd guarantee almost 20% interest per annum over the naira using current market trend.... Worse case scenario, it remains stable

For someone who needs such capital to run their business or who has a non-depreciable asset they could put it into, then arguing against saving in usd will make sense....

Of course, all this excludes funds required for daily living

Biafran4life:
When I come here and read somethings,I just shake my head.The naira is useless, inflation is at 18 percent.. leave naija and run to country you earn dollars.The dollars is devalued 4 times and I will be laughing.No Wonder a moniker is always saying audio billionaires.Go see that guy at aba,onitsha,lag doing serious business and making good money.He will tell you is long he has been buying dollars btw 480-500 and making good profit in business.
My stay in the........

The devaluation issue is not really about folks in diaspora... Frankly speaking, they're the ones that may even benefit with the way CBN is gifting naira for sending in dollars.

It's easy to look at one aspect of the economy and forget the rest... It's worth remembering that over 90% of Nigerians have less than 500k in their account.... 90% is a significant majority

Even if war breaks out in Nigeria today, some people will still feed fat off it and acquire properties.... Afterall, some people have made billions from the fight against boko haram and kidnapping. That doesn't mean large parts of Borno have been left economically desolate. Same way folks who are round-tripping cbn dollars are making millions weekly... The thing is the economy has to bear the brunt of those millions made out of thin air.... Simply put, inflation will persist and the poor will get poorer


For folks running certain businesses, they can easily transfer the cost back to their customers and even speculate to make more profit... But what happens to the remaining 90% of Nigerians, the salaried folks, those earning less than 100k e.t.c how are they coping with the increased prices... It is these folks that determine where the country is headed not the few rich.