₦airaland Forum

Esseite:
Some of us have always known cryptocurrencies were created to kill off poorer/small countries..

How Nigerians are helping kill Nigeria through shift to crypto is amazing. It's just extreme greed.

Do they know the volume of USD Forex that escapes via cryptos.

I see China and russia banning it aswell real soon.

On the contrary, China is racing to be one of the frist countries to roll out their digital currency.
Most bitc0in miners are in China

plaindealer:
This is a good move by the CBN, it's dangerous and counter productive for the general population to shift traditional banking, trading and investment system from the banking and regulatory structure to unregulated and counterproductive crypto currency system.

Money inflow and outflow through the banking system guarantees availability of funds for investments, loans and financing across the general population, but when you remove money from the banking system to a side person to person asset transaction, you are effective remove money and forex from market, you are no longer recycling money through the system to keep the economy going, you are denying funds for loans, business financing, housing mortgage and so on.

Rich and developed countries can afford to allow crypto in their countries, but Nigeria can not especially when Nigerians are now turning dollar remit from abroad into a person to person crypto deal.

Crypto is a valuable tool for money launderers, shady dark web dealings, drug trade, human trafficking transactions, terrorism funding and so on..

You can not keep complaining about the economy, lack of jobs and infrastructures while at the same time sabotaging the same economy with crypto.


You can not have ot both ways, crypto is not goo for us at the moment..

Brother you're confused.

Crypt0 became more popular in Nigeria over the last 18 months. Before that, how many of those things you mentioned were in place?

It doesn't replace the traditional banking system. To buy, I'd still have to deposit into a bank account and withdrawals are also into a bank account

Nigeria is bereft with drug trade, human trafficking transactions, terrorism e.t.c. how many of them are done via crypt0?

Learn to understand stuff

iamJ:
it's not going to, government can't tax it and it doesn't provide any benefit to the society, it's only criminal elements and speculators that it is beneficial to.

You are as ignorant as they come

I don't get... Is this supposed to be news?

If government investments are not functional or valuable what would they now be?

spyder880:
Those are imported doors that could be assembled, it has thick frames, good quality finish and architraves. Each room door costs around N70,000, toilet doors will be about N45,000.

Thanks... They're good quality doors though pricey.

Also, are the tiles Nigerian or foreign?

JayromWrites:
Thanks


I'll just hodl for a while


But I have some money on my naira wallet already.. the we thinking there was a qoin out there on roqqu worth risking om

I don't trade on rokku and not sure what's available there...
On coyns, I've shared thoughts on some recently

ModelX:
My research shows they never pump so soon after pnd. Look at what Doge is doing. I finally sold now at crippling loss.
Could be worse.

Stmx_ is tempting me again.

Hehe... Finally...
The plan is always to frustrate folks into capitulation so whales can fill their bags and repeat thesame process...
Doge had a exit pump which was truncated at 0.5. I advised folks here to take advantage of it to empty their bags even if it was at a loss but more were still asking where to buy doge from...
I wouldn't be surprised if it breaks down soon..

On exrp... Something about it makes we think it'd pump relatively soon ish and surprise folks...
Either way, I'm also waiting for an exit pump to empty my bags..

JayromWrites:
senior men in the house,


I've counted my losses from Rip

please any advice on which qoin to buy atm at Roqq.u

Another ripple victim...

How much of your portfolio in in xrp... Or have you exited already?
One thing you should do before looking for what to buy, take a note of what went wrong with your xrp trade... If possible write it down. This market flows in cycles and scenarios can be quite repititive. It'd test your errors until you learn from there... So it's worth reviewing losses

On what to buy, I'd say the market is getting overheated... Folks are overleveraging and the market may look to flush them b4 any further move. So it may be better to wait towards the weekend/early next week for a dip. That said, don't forget that eith has broken ATH and altys will likely boom soon.

It might be worth holding unto your exrp (if you're still in it) as it may pump when others dip

tolulope2021:
Please ,I want to ask a question.

I bought 100k worht of eith this January and I have the intention of holding for like 8-9 months . And I noticed it has been increasing like its up to 120k now. My question is..

1. Is it advisable I sell the 20k profit and keep in my wallet because I don't have the intention of using the money now and allow the capital to grow again which I can collect the profit also later on and keep or I should leave the 20k profit with the capital for it to grow together for this duration(8-9) months....which is advisable

2. Anothe question is ,should I sell the 120k worth and wait till dip then use 100k to buy another worth of eith?
Waiting for response.
@jedisco,@abu@enlightened

People have given thier advice which are all sensible... I'd say it's a personal financial decision.

It's important to get what works for you and manage risk too in accordance with your trading plan. Not everyone can monitor the movements daily and some wait for a significant move up to sell....

You could take some profit now or wait for a bigger move b4 taking to rebuy... It all depends
But then, I wouldn't advise selling all just yet, yes it may dip but then identifying anf buying a proper dip is also tricky...

E.g I know folks who sold their betece at 20k and were waiting for 14k... Them still dey wait. Also, some sold at 27k hoping to get in at 20k... They're still waiting and may never get it...
Conversely, some will not sell at all and the price will crash with them..

I always tell myself, no one can time the exact top or bottom. Tryna do that is recipe for disaster.. What we hope for is buying close to the bottom and exiting after good profit.

Link and eith....
Link usually follows eith.... It's soo overdue a run

.

Kudos@Spyder

Quick question....
What kind of doors are these (material) and their cost too?... I'm looking at door options for a project

kolagbemi:
Then, I feel the purpose of using Stop-limit to reduce your lost is defeated, if price never reach your Stop-limit.

You should raise your stop limit as price goes up or sell when your targets are hit or when the market is overheated

Lordemperoris100:
Please I notice you guys trade with /USD
my friend to registered me trade with BTC pair - Doge/BTC.
I'm confused, what's the difference?

The difference is based on each individual. What asset they have, what trading pairs they understand any and what they're more interested in accumulating. i.e betece or fiat
Also, I'd add... Let's take our mind off doge.

cuteboy2:
If Big B tests 30k a 4th time, could it possibly break the support and go down South ?

No one can say, the market does its thing. We can only make predictions based on certain patterns

But generally, multiple touches of a support or resistance weakens it and 4th attemp is usually more probable to break. 'more probable'.... that's not saying it must break on the fourth attempt or it cannot breakdown before.

That said, I'm not interested in holding through a 4th retest. I'd likely selloff before then and see what happens there. I'm not expecting that to happen though.
Looking at the daily chart, betece broke back inside the 33k-38k range and has held 33k as support on yesterday's candle, though with much selling from the upside. For a bullish case, I expect that support to hold and propell it past 38k. Closing back inside the 30-33k range would be bearish for me.

Frezhkid10:
Cc: jedisco
I just registered on binance and intend buying BTz..from explanations I got here..am to deposit money for just and then use to buy BTz.. but on my account am not seeing where to buy USDT..I got to where I was to purchase naira under fiat symbol..it asked me to transfer to an account number.. so my question is
Should I buy Naira fiat??..and after buying naira fiat..I buy usdt then beets..

Welcome to this space
First, ngn(naira)=fiat
Fiat is day to day money such as dollars, pounds, naira e.t.c. similar to stable coins.

Secondly, betece is a naira traded pair so you can buy with naira directly and not need to convert into usdt.

Third, buy purchasing naira, I guess you meant depositing naira. You can't 'purchase' naira. You can deposit, withdraw or sell some coins into naira.

Now on how to buy,
After depositing naira, go to the 'market' tab and search ngn. It'd show all the naira traded pairs. Select betece/ngn. Its there you can buy at market price.
After buying, it'd be in your wallet. You can then withdraw it out of binance if you choose to

kolagbemi:
DOGE is doing everything to remain a big alt....we sha see

Lets forget doge... It's going back to where it started from..folks have taken profits and dumped their bags... The market has moved....

kolagbemi:
Nice one.

Quick question...do we have something better than a stop-limit that allows you to take profit at higher profits but never missed the limit point. Eg. I envisage a limit point of 50 but I will be able to take profit at any level above immediately there's downward trend?

Lol... Not come across that...but there are some trading bots...never used any

but then, how would you know when there's a downtrend... Even in an uptrend, there are always mini pullbacks here nd there.

jedisco:
That said, taking a second look at the hourly chart, a symmetrical triangle is forming.... Did a small trendline on my phone...
My plan would be simple... If it breaks to the upside, and confirms, I'd aim for around the higher values we got yesterday to exit. If it breaks to the downside, I cut.
It's resolution seems close... Let's see what the next 2 hours bring

Update.... Closed outside triangle>>confirmed it as resistance>> dump.
Cut after closing outside... Ideally, one should wait for confirmation as resistance but I didn't see the need on this.

I'm thinking... With the doge pump and subsequent microcap pump, I'm looking at two variables...
1. We're approaching a change in the trend of the market where money flows back to fiat/betece. For micros to pump, money should have flowed from betece, to majors (remember eith) down to them.


2. We're on the cusp of a major alt run.

I lean more towards the second given that alts have barely had a month to run compared to several months betece had.... If altys are to run, I expect eith to lead the way.
First and foremost, betece needs to hold the 33k-34k level as support before anything has a sensible run. It seems primed to do this

kolagbemi:
I can understand sir. You truly have thought and guide us well. Lesson learnt. Sorry for not making you proud yet.

Abeg ooo... I'm still learning...
I shared my mistake with doge in taking profits too early... Yesterday, I got 35% early on... Was looking for a re-entry which I missed... It went on to do 500% after that. Funny enough, I didn't feel anything. Before, I'd be so mad with myself. 35% was good on a small chunk.

I moved some of the profits into xlm. Got in with a smaller sum at 0.03, took some profits around 0.06 ish.... Still have a small chunk left which I'm not even bothered what it dose. I'd dispose it today..

That said, taking a second look at the hourly chart, a symmetrical triangle is forming.... Did a small trendline on my phone...
My plan would be simple... If it breaks to the upside, and confirms, I'd aim for around the higher values we got yesterday to exit. If it breaks to the downside, I cut.
It's resolution seems close... Let's see what the next 2 hours bring

kolagbemi:
You are obviously very experienced and very intelligent. I pray new guyz in this forum never experienced what I experienced yesterday/today. If you will be wise, learn from me. Just as mentioned, I pull all my savings Eth, BTC and fiat in yesterday and got bunt. I truly did made good profit but greed and fatigue made me loss. I wouldn't have lost if I didn't overworked myself and nature/sleep stepped in. I thank God for the lesson learnt.

Jedisco I owed you a bottle of wine.

Thank you for the guidance

You'd get it back but don't try to recoup all in a day. I'd advise to focus more on smaller but sustainable gains. Also, small caps are for quick bucks... they're used to build your betece or fiat holdings....
When the market turns, you'd be shocked at what alyts would do

For those still in doge, it still holding the 21ema on the hourly. We saw what happened when it lost that of the 15min yesterday.

There's decreasing volume which is not the best...
In summary, it angling for small move up. IMO, anything between 0.063- 0.87 is a take profit zone

I'm not happy the way some people view this space.
It's not quick money. You take it that way, you get burnt.

There's a reason I advised new folks to keep off day trading. By the time you understand what you're doing, half of your portfolio is gone.
If you've not witnessed a proper bear market and traded it successfully, you have no business day trading.

We're in a bullrun and new folks are rushing in with their money. It's very easy to say how 95% of new folks in this space will react to PA. We were all new once.
This market does not reward the obvious. To profit, you have to seek opportunities before they become obvious. When they become obvious, you focus on where to take profits. Alot of folks made tremendous money on doge yesterday. That profit did not fall from the sky. It came from inexperienced folks who bought their bags at high prices and are now stuck.

The market shows no mercy. Never forget that.
I keep mentioning betece and eith here but newer folks think they're boring and are more interested in 'shiny' stuff despite the fact we all know betece and eith will outperform those by far in the long run.
Have you ever asked yourself where the profits made in smaller caps come from?
When they pump, it usually signifies a turn in the market either back to betece or fiat. 1000 betece can easily pump most small caps... When it starts pumping, newbies run in and are dumped on.

A month ago, most people chasing alts now would have been buying betece at 40k and screaming alts are dead. This market does not reward the obvious

kolagbemi:
Golden advice.... I've not been myself today. I've always been a fan of Eth, I was actually making Eth my savings account.... yesterday I emptied it to Doge and this happens. Just that I don't want to go in when it's high again.

Thank you. I've spent my day doing Revenge trading and kept going deeper and deeper.

Guyz, learn oooo.

Hmmm.... To profit from a market, you have to understand how it works and why prices move.
Most shorterm prices and patterns are driven by human emotions and those emotions would continue to remain that way. Just imagine putting sugar for ants and how they'd behave.

If your emotions are not in check, you will 100% lose money day trading or swing trading anything.

From what you said, it's obvious that you kept buying more as the prices went higher. Lesson here, should have been the opposite

elmas:
Sir is doge still a good option?

Let's clarify something, new folks should handle the euphoria of small coins doing such percentage with caution.
Doge usually pumps like this from time to time and ends up retracing the whole way.

I'd advise never to buy any coin that has done upto 100% in a week talkless of multiples of that in a day.

With all due respect, if you're thinking of getting into doge after >500% pump yesterday with multiple folks still trapped and looking for an exit, then your money should only be in betece.
There may still be opportunities in it, but if you're asking, you shouldn't be trading it.

billyG:
Damn!i missed ethty this morning d
buy limit i put didn't get filled.

I'm not so keen on placing lower orders within range. You can get dumped on.

If I see a good set-up, I enter if the risk to reward is good. If I think the current price is fair, but I may get it lower, then I buy a lil now and set alerts for when price reaches lower levels.

When the alert goes off, I look at the price action and if still interested in the trade, I get in....