₦airaland Forum

jedisco:
To add to this, for those who trade, it's good to know what you're good at...

Are you a day trader, a swing trader or a HTF trader?... I usually prefer to trade the high time frame and I'm less concerned about daily movements. I believe it's in major movements that most money is made or lost. Truth be said, betece usually gives 2-3 of such major moves a year.

Betece has been running the party for almost 3 months now. I believe over the next two months, the major money will move to alts.. That's how the market cycles. I might be wrong but thats how I playing it. Selling your alts into bitc0in now may not be advisable. Its like selling the bottom to buy the top. I've made such errors in the past and lost out on both ends.

Take a step back and see that betece has crossed all time high... It's likely others will make good moves.
With alts, entry and exit is everything... 20k to 28k on betece is a 40% move... When the time is ripe, some alts will give double that percentage in weeks... Already some have printed delicious candles. Just remember to take profits along the way cos the volatility will be huge too.

The post I spoke about

I have refrained from discussing crypt0 here as it has a different thread. I chipped in my thoughts here after the CBN circular. But then, there are some erroneous perceptions that have to be put right.


I find it interesting that folks here who have not put a kobo in bitc0in or understand how it works would comfortably sit in their bubble and say that almost all Nigerians with money there are either yahoo boys or speculators. One even mockingly asked me how people make money in crypt0. I am sure such a person has not seen the price index of any traded asset before.

For the Yahoo part, is there any evidence for this or is? Or is it thesame basic reasoning SARS officials use and arrest any young person with an iPhone as a fraudster? Yahoo guys have held sway in Nigeria long before the first bitc0in was mined. There are almost daily attests. How many have said they do their trade via crypt0? If you know anything about bitc0in, you'd know that it does not suit their means of swindling folks.. people just regurgitate what they've been told.

The second part on being speculators is even more interesting.... That you don't comprehend something does not mean that everyone is same. The post I quoted was one among many others I made in December here. Read through it then go back and read my posts I made then and see if I was making random guesses.
The crypt0 market has one of the more predictable, cyclical and organic markets I've seen. One firmly based on demand and supply. The knowledge I expoused there came from experience of studying and trading past market cycles. Soon after that post, I deployed alot of fiat I had in the bank into sensible coyns. As of today, I've x2-3 my portfolio, taken good profits and I'm looking at a repeat of that again in February IF certain market conditions are met. Calling that speculation belittles the effort people put into studying markets.

A few weeks back, I said that here that the last January push on the NSE had bearish tendencies. Though I dont trade there, it was deducible from basic technicals. I wasn't making random guesses. Right now we see that playing out.

I've said it several times here that I and lots of others planned for this run for over 3 years.. Even before Elon Musk touched his first bitc0in. His coming in was rather a news event. What would have happened would have still happened eitherway perhaps just a bit slower. There was no luck involved!

Some folks here swear by markets I consider a waste of space as currently structured, I wouldn't come here and call them fraudsters or speculators. I invest in bitc0in simply because I believe that overtime, it's value will increase. So far that has remained true since it's inception. People should please stick to what they understand and avoid calling others names.

n3xt:
I’ve used step tiles on many projects but metcoppo I really don’t like.

The woodwork in the picture you attached is fair for longspan roofing and not good enough for step tiles aluminum.

See the spacing of my woodwork below used for my longspan roofing 10 years ago.

Thanks.. Much appreciated

adesegun121:
Steptiles woodwrk and metcopo are thesame but just got notice that some carpenter added more wood to the poline spacing if they notice the client going for metcopo just to prevent leakages

Thanks.. Much appreciated

adesegun121:
Reason why we send installer to site for proper measurement and know the type of Aluminium to be use

Toh... since the woodwork has been done, I don't have much of a choice then...
I'm not aware of the poline spacing. I could confirm that though.

How about step-tiles? Are they better than metcoppo?

adesegun121:
Which this poline spacing it look like Longspan roofing sheet
But when we send installer down we confirm the design
Site location?

You can reach Us on 08085310359

Asked you initially...but distance was the issue.. so went ahead with local options. It's in the far North

[quote author=adesegun121 post=99053284][/quote]That's interesting... We told the engineer before the woodwork that it'd be aluminium... But didn't specify which and he went ahead.
It's now we're considering options...
Do you think the woodwork will take step-tiles?

What if it is

spyder880:
I still hold my views as before, I now use Long span sheets in my own buildings these days, I also advice my clients to not use Metcoppo sheets, but if they must use it, I can buy and install it for them on one condition, that they will pay for repairs if there is a leakage later on. I lost a lot of time and money repairing Metcopo leaks in 2010 to 2015.

Thank you... Looks like it has a critical design flaw

How about step-tiles, is it any better than metcoppo in terms of leakage?

n3xt:
Yes to the bolded.

Hmm..and I used to think the woodwork for the different aluminium roofing sheets were interchangeable...

So you're saying that for step-tile or metcoppo has to be closer?

adesegun121:
Yes sir this point still Valid but with the guage at which imported aluminium deal on now
I recommend 0.55mm thickness to 0.45mm due to the machine stepping
And for the roofing leakages bad installation cause most leakages
And in another angle if you installed metcopo or Steptiles on Longspan woodwrk
That building will leaks forever.. Unless you add more wood to that spacing

Thank you...

But are step-tiles any better than metcoppo as regards to leaking?

spyder880:
WHAT MAKES ALUMINIUM ROOFING SHEETS TO LEAK?

1. Faulty corrugating machines

Whenever the machines used to fold aluminium sheets develop faults due to poor service and poor maintenance culture, it might start to punch too hard, perforating sheets in the process, such holes might be too small to notice, until it rains. That is when you see the faults. A roof repair guy will be needed to use felt and patch the roof from under to fix the leaks.

2. Lapping gaps

By this, I mean the point where two sheets join, where one sheet laps over the other to create a continuous roof. If you are using step tiles, or worse still Metcoppo sheets of aluminium, please help yourself and do what we call, DOUBLE LAPPING, this will mean lapping two rows of aluminium sheet instead of lapping on one only. Water splashing during rain fall can easily get under the single lap, and leak seriously into the house. With double Lapping, you are assured of less incidence of water getting under your roof from the point where two sheets join. It's important to note that double Lapping will increase your roofing sheets quantities by about 8-12%. You will actually spend more to do double lapping.

3. Roof Ridge covers

The ridge cover is another point that can let in water during the rain, especially with a poor carpentry job. Another problem with ridges is if the ridge capping is not wide enough to comfortably cover the roof, water can find a way to flow into the roof especially during heavier rains.

POINTS TO NOTE

1. That you used .55, .45 or .40 to roof your house is not the reason it will leak. The reason is the design, or wrong placement of your lapping.

2. The Metcoppo, and the step tiles will leak much more than the straight long span sheets. We usually think that the beauty of the Metcoppo or the step tiles, exposes it to a design flaw which makes it prone to leakage. Be ready for periodic roof maintenance if you use Metcoppo sheets.

Happy easter my good people.

@spyder880, @money121
Got this through a search. Great job you guys have done here

Do you still hold this view regarding metcoppo?
Need some advice. I'm torn between choices on a roofing project. I would prefer step tiles or metcoppo simply for aesthetics but wouldn't want problems with leakage in the future. Do you think step-tile is a more manageable option that provides aesthetics and fewer issues with leakage?

Also, I gather that with long span, 0.45 gauge will suffice for most projects but if using step-tile or metcoppo, it's better to go for 0.55 at least. Do you agree with this or does it not matter in the long run?

Thoughts welcome from everyone

Not bad... As far as their disagreement was based on sound argument and in the good of the people...
But if it was for their selfish interest then it'd be a huge disappointment.

Most decisions that turned around great nations were borne out of heated discussions.

seunny4lif:
Just keeping them there, if na 10 years time no wahala
I need 100K DOGE coins to keep and 50K ADA

Hehehr... Ok ooo. Hope you looked at the doge chart before deciding this was the best time to buy for the long haul

.

I didn't plan to respond to this issue here again as it's been overflogged but given that I wrote a response on a same front-page topic, I've decided to paste it here.
Of note is the link to the Bank of England Govs comment and you see a stark difference between those who do and those who are told what to do.

jedisco:
Seems they just regurgitated some overflogged and ignorant cons or crypt0 without equally examining the pros.

Lets examine the reasons

1. Banned in other countries- definitely not in Canada. Even with the ban in China, 70% of bitc0in is mined in China. As per the remaining countries- their names speak for themselves. How about the US, Canada, UK etc who aloow it to be traded freely even by their banks? You can buy crypt0 from the bank app of some Western banks

2. WB- hehe. See what a central bank is saying. Hope they also asked him what he thinks of multiple exchange rates, paying fuel subsidy and giving scarce forex at a discount to those going on pilgrimage to spend in other countries. Also, how about asking him what he thought of current internet giants like Amazon, google e.t.c.. and why its not banned in his country. We should also ask Lord Lugard since we're asking dinosaurs

3. Andrew Bailey's speech- Bank of England Gov. Folks pls spare a minute and read his view on the crypt0 space.
It critically examines it all, pros and cons and how they regulate the sector. No wonder they colonised Nigeria. https://www.bankofengland.co.uk/speech/2020/andrew-bailey-speech-on-the-future-of-cryptocurrencies-and-stablecoins

4. 'Reports' on kidnapping, terrorism... This is so basic there is nothing to say. Lets hope the ban will stop herdsmen from kidnapping and pillaging the country.

5. Central bank backed digital currencies- the name variant means nothing. Whether its called crypt0 or central bank currency. The underlying tech is thesame.

6. Protect the youths- lol... This is the only time Nigeria wants to protect her youths more than the EU, UK, USA, Canada e.t.c... good protectors indeed.

7. Volatility- The volatility in the US stock market last year has made that of crypt0 look like a joke. Guess they should end their stock market to.

8. Legal tender- Bitc0in was never meant to replace fiat or be a legal tender. Countries can make fiat banking on thesame tech but bitc0in remains a store of value not a legal tender.


Never thought I'd say this but I'm ashamed of CBN and Nigeria.
Those in the sector know this does nothing. It only makes what is a simple process in other countries more complex here as usual.

Today, Asia (China) does the mining, the West own the exchanges, Africans are excluding themselves. Tomorrow, they'd say digital currencies were made to impoverish Africans.

It's February 2021. lets see how this decision will age.

Seems they just regurgitated some overflogged and ignorant cons or crypt0 without equally examining the pros.

Lets examine the reasons

1. Banned in other countries- definitely not in Canada. Even with the ban in China, 70% of bitc0in is mined in China. As per the remaining countries- their names speak for themselves. How about the US, Canada, UK etc who aloow it to be traded freely even by their banks? You can buy crypt0 from the bank app of some Western banks

2. WB- hehe. See what a central bank is saying. Hope they also asked him what he thinks of multiple exchange rates, paying fuel subsidy and giving scarce forex at a discount to those going on pilgrimage to spend in other countries. Also, how about asking him what he thought of current internet giants like Amazon, google e.t.c.. and why its not banned in his country. We should also ask Lord Lugard since we're asking dinosaurs

3. Andrew Bailey's speech- Bank of England Gov. Folks pls spare a minute and read his view on the crypt0 space.
It critically examines it all, pros and cons and how they regulate the sector. No wonder they colonised Nigeria. https://www.bankofengland.co.uk/speech/2020/andrew-bailey-speech-on-the-future-of-cryptocurrencies-and-stablecoins

4. 'Reports' on kidnapping, terrorism... This is so basic there is nothing to say. Lets hope the ban will stop herdsmen from kidnapping and pillaging the country.

5. Central bank backed digital currencies- the name variant means nothing. Whether its called crypt0 or central bank currency. The underlying tech is thesame.

6. Protect the youths- lol... This is the only time Nigeria wants to protect her youths more than the EU, UK, USA, Canada e.t.c... good protectors indeed.

7. Volatility- The volatility in the US stock market last year has made that of crypt0 look like a joke. Guess they should end their stock market to.

8. Legal tender- Bitc0in was never meant to replace fiat or be a legal tender. Countries can make fiat banking on thesame tech but bitc0in remains a store of value not a legal tender.


Never thought I'd say this but I'm ashamed of CBN and Nigeria.
Those in the sector know this does nothing. It only makes what is a simple process in other countries more complex here as usual.

Today, Asia (China) does the mining, the West own the exchanges, Africans are excluding themselves. Tomorrow, they'd say digital currencies were made to impoverish Africans.

It's February 2021. lets see how this decision will age.

.

EarlyCareer:
Jedisco, it is okay. Stop trying to make people understand. I think you have said all that would make anyone interested to do more research.

I also used to think crypt0 was a scam, until recently. Yes, it is an evolving space. The government will eventually come around especially as the world is becoming more accepting.

Money laundering and fraud happens even in normal banking systems, so that reason is for sensational purposes I guess. Maybe the ban was more monetary policy related.

All of us go dey alright finally with our different modes of investing.

My brother, I don tire... It's just that I'm allergic to misinformation.

Even seu.n has come around...so hope dey

kevoh:
Funny thing is most exchanges already do that even the ones that are not as big as Binance.


This was what I even feared they would do. Tax all profits made on trades. This would have added some more cash into the FG vaults instead of these loans they are borrowing up and down and driving the country into more debts.

If you notice exchanges especially binance have been trying to get into the Nigerian market and most would be ready to bend over to fulfill whatever the CBN wants.
There are alot of ways to better handle this. This was obviously the worst method.

What annoys me the most is that it just doesn't make sense.

I live in a western country. I can buy crypt0 from the click of a finger in my banking app same with stocks and metals. Also, when prices fluctuate, i receive a notification. There's a sum you'd have dormant in your account, your bank will ring you up and offer certain investment options. I can still trade crypt0 from Binance into a Nigerian account if I need to just that it would take a lil more time.

Out there people make things easier for their citizens and promote financial inclusion. In Nigeria, the opposite is done.

I can say confidently that for a western country, even if all such transactions are fraudulent, considering the volume of inflow, they would not issue a ban. Look at how difficult is it for them to release Abachas loot that they gladly accepted
It's no wonder why the naira would continue its downward slide.

ojesymsym:
The CBN can argue that they did not ban crypt0 and in all fairness, they do not have the capacity to ban it. They seem to have only said that the banks and other financial systems under their control should not allow themselves to be used as facilitators.

Anyone who knows crypt0 knows it's not a sensible move and they can't ban it. They can't stop banks being facilitators cos p2p will still continue with little or no records sef.

What they simply did was make a straightforward process more complex.

In 2017, they put out a circular limiting banks pending more regulatory oversight. Fair enough, it was new then.

4 years later, they've been unable to pull up regulatory oversight and are limiting banks from transacting with exchanges. These exchanges provide such huge volumes of inflow.. What sensible country will do that for another?

kevoh:
I'm not talking bitcoin alone but the whole crypt0market. Even almighty bitcoin sometimes does not respect the charts. Everyone loses a trade at some point. That's why we have all sorts of stop-loss orders for risk and financial management.

The crypto sphere is massive and you can choose to limit yourself to spot trading bitcoin while some hunt crypt0 gems, some trade altcoins, and others trade futures or do all. There's no harm as long as we all make some profit.

A lot of people made money from free airdropped 400 UNI (currently trading at $18) just for transacting on uniswap, they probably must have missed that if they only traded bitc0in. And I'm sure, their neighbour who doesn't do crypt0 will be asking how his neighbour made $7200 (400 x $18) , it just must be fraud. Not knowing that it was received free

Fact!

The reason I chose to limit discussions here to bitc0in is that most folks are struggling to wrap their heads around it talk more of alt coyns

ojesymsym:
No one who has a fair knowledge of crypto can say it is fraudulent, at least even in the post you quoted, I still did not say that.

Then what was your point?

That fraudulent folks have used a system does not mean it should be banned more so when they in their minority. Every system has been abused at one point or the other

What really gets on my nerves with this CBN decision is the propensity for African countries to keep making wrong decisions.
Even if some folks were using it for fraudulent means, stopping or placing a ban on it wouldn't help in any way. Internet fraudsters had existed in Nigeria before the first bitc0in was mined. Politicians have been ripping our treasury off even before crypt0 came into existence.

Let's compare what the CBN did to what Western countries have done with crypt0.

1. They mandate crypt0 exchanges to keep very clear KYI data on all their customers so as to be able to identify transactions.

2. People are mandated to pay tax on profits you make on trading. You can submit your trading details. Eitherway, some exchanges will submit all details of those who traded significant volumes to the tax office to peruse. I have attached the guidance from U.S and UK tax agencies
https://www.irs.gov/businesses/small-businesses-self-employed/virtual-currencies
https://www.gov.uk/government/publications/tax-on-cryptoassets/cryptoassets-for-individuals

3. Certain banks in the West allow people to buy crypt0 from their banking app with the click of a finger. Paypal recently started allowin their U.S customers buy crypt0 in app.

4. Some countries mandate users to keep details of where they withdraw crypt0 to.

Now these same countries ask our CBN to ban crypt0 and they follow? Would the U.S or U.K cut such huge amount of cash inflow from any country?.
If the FBI is worried about fraud through crypt0, then they should ban it in the US.
But then, U.S companies have slowly started buying up bitc0in in large amounts. Today, China controls the mining and the West the exchanges, tomorrow when Africans are left out, we'd say bitc0in and crypt0 was created to make africans poor. SMH

kevoh:
Nigerians often bad mouth what they don't understand. He will never make any gain and keep calling those who make money from it that they are into fraud. Crypt0 is a highly speculative market that can make or mar you. You also need lots of patience to thrive in it. Let me cite an example, BNB is Binance coin that was sold at $0.10 when it first came out in 2017. If you had bought 500 pieces of BNB at a measly $50 (about 16k Naira), with the current price of 1 BNB in 2021 which is about $70, you will have $35000 (over 14 million Naira) sitting in your account This is the part where those who don't understand how a high speculative market can make people rich ( or poor) will call you fraudulent.

You can't just jump into it because you heard bitcoin is rising, you then rush to buy it at all-time high, expecting some massive gains. Those who bought at 10 cents and have been waiting patiently for years are not fools! You come in to buy same coin at its all-time high and expect to make massive gains like the man who has been waiting patiently since 2017

I disagree on it being highly speculative per se.

If you limit your trades to bitc0in which is almost guaranteed to rise over time, I don't see how one would lose. It's usually ignorant or greedy folks that lose trading bitc0in. Look at the bitc0in chart snd tell me how trading it will mar someone if they simply bought low and held

Obviously folks wouldn't do that. They run into different coyns expecting to x10 their portfolio overnight and are burned

pluto09:
You are really trying to explain how crypto works.
Unfortunately, we have too many people around who have a rigid view of crypto as fraudulent.
No matter what you say to those people they will never understand.
Why those who don't have a single unit of crypto are here analysing stufff, guys are still making money even on a Sunday.
More than 5 billion have already exchanged hands today on binance trading ngn.

Usually I leave such comments alone cos in my field of work, they're are arguments that are now worth it.
Those vast in crypt0 know this ban wouldn't affect nothing. Those who panic sold yesterday are asking on the crypt0 thread how to deposit again...

Good enough, seems Se.un has allowed conversations on crypt0 and an investment thread on it. Most of my discussions on it are done there.

I've made over 10 million in profits trading crypt0 just since this current run, most of it has been put to good use. Obviously, just like any market, some folks lose money too mainly cos of greed but from the picture I posted, if you lose money trading bitc0in longterm, you have to ask yourself certain questions.

I'm someone who does my research. I once saw crypt0 as ponzi. I did my reading on it and today I have no regrets.

For all their huffing and puffing, it's interesting how no one has been able to say how exactly it's fraudulent.
The average human is a herd that just regurgitates what they're told

Uniquisite:
Teach us, illustrate it. Nah, it is so complex...lol

When you ask a question, allow it to be answered.

Go through my posts and you'd see that I'm a highly cerebral person. I don't say this to be proud, I say it as a statement of fact. So when you ask, allow it to be answered moreso when it's on a subject that has confused you over the years.

Uniquisite:
I am not receiving money from abroad

I claim to be online business hustler, i have 100k, please illustrate how to make million of naira from 100k as a supposely jobless person

No-one can tell us that majority of the volume of bitc0in is sent from relative abroad

You asked a good question and I'd answer it in a way that a 6year old would understand.
I don't know what you invest in or your understanding of markets, but I'd attach 3 pictures

1. The Nigerian stock exchange All time index

2. Nasdaq all time index

3. Bitcoin all time price chart

Look at the last picture again and ask me again how to make money from that asset. The answer is simple: buy low, sell high.

Obviously given that it's an all-time chart, it's difficult to notice major dips.
As easy as that is, 95% of humans find it difficult doing that as it goes against basic human nature.

March last year, bitc0in unit price was 4kusd. Today its 40k usd. And I'd add that as ridiculous as it sounds, 30k usd MAY be the lowest price we'd ever see bitc0in get to again. I want you to hold me on this.

Nezzjnr:
A surveyor that I came across last week told me had to run away from Crypt0 currency few years ago

Reason is because he hardly see gains.. He went on telling me that majority are actually using it for Fraudulent means

If he tried trading crypt0 and lost, that's not new. People lose whrn they trade any asset wrongly.

Same question I've been asking... how exactly is it fraudulent?

Is it that folks are not critical thinkers? Everyone keeps saying same thing and its obviously because they do not understand it.

ojesymsym:
Every single good thing in this country has been destroyed by scammers. Back in the day you could easily walk out to buy a sim card of your choice but when scammers and kidnappers began to abuse the process now one needs all forms of documentation and Nin to either buy or retrieve your line.

I believe crypt0 must have started as a profitable venture until scammers turned their searchlights on it again and abused the process.


One guy said 10billion was traded in crypt0 yesterday and I am wondering, I thought they said Nigerians don't have money? Too many paradox

You guys keep saying same thing.
Just that the amount is large does not mean it is fraudulent.

How exactly is it fraudulent? That's the question I'm asking