₦airaland Forum

janga:
trading creepto 24/7 and at moment TA not always work when bitcorn in parabolic move so we’ll be expecting $25k next. 400% profit in lessthan a yrs

BTC

2017 ATH - 17 Dec 2017
New ATH - 16 Dec 2020

I knew this move would come but the relative ease suprised me... It's in price discovery... TA can only estimate support and when to take profits. I believe buyers will defend 19.6k if it gets there.

The way big institutions are buying up supply in millions of $ is likely the driving force.
The money that'd be made over the next few months would be surreal... My plan now is to device when and where to take profits so as not to give it all to the market. Once Beetcoinn settles above 20k, except others to start doubling their value. That said, I expect huge volatility both ways... My plan will be to load up on fips till it stops working

Those who waited several years for this deserve every penny that comes.

Beetcoinn convincingly breaks all time high and trading at 22k USD currently...

Are there folks here who trade it? Next 2 months should be fantastic.

People have said alot about migration.

The worry is that Nigeria is loosing her bright heads in the upper middle class to developed nations. Except we find a way of replacing them and leveraging on the experience of those who migrated, we may not move forward.

The likes of Dangote, Ovia e.t.c we keep referencing here make less than 0.01% of our population. You'd be surprised the amount of time they spend outside the country. How many British billionaires have you seen gallivanting in Nigeria? The effect of the rich on a nation is based on their effect on the middle class or how the nation leverages their wealth.

Every country is carried by their middle class. It's that group that drive the economy, pay taxes and determine the purchasing power. The difference between Nigeria and the US is not based on the difference between what Dangote and Bill gates can afford. It's based on the difference between their middle class. Recently, Dangote opened an office in New York with plan to manage part of his wealth from there. Do you know what impact that has on Nigeria? Most of our rich buy houses and shop in London and contribute to their economy. Later we wonder why Nigeria is in this mess.

Someone mentioned that those with upto 200mil passive income are not looking to migrate. I'd say that thinking is because they're not looking at relativity. I have seen people swear that if the can get a job that'd pay 150k, then all their problems are gone. Meanwhile those earning 250k will tell you they can barely run their family with it. I'd say look for those earning 200mil and ask them their thoughts on migration is if they could still maintain their income source.

The Nigerians paying 400,000 USD for passports and buying houses in London e.t.c are not the regular middle class. Give that a thought


Nigerians who grew up in Nigeria would always have this nostalgic feeling of home... But that does not mean the country is not spiralling down

@op
Mr blogger ...... Hope you don't see the other side of a police cell soon.
Anyway, I've reported your post

@op...

You sound like a young bright chap.

Question is if you study in Russia, what are your job prospects there? Also, how transferable is their degree to other developed nations? Can you use the degree to get sn Engineering job in UK, US, Canada, Australia or Germany? If you'd still need to run a masters program in your second country of choice, then medicine may be a preferable option.

I know alot of people who had their first degree in Russia/Ukraine and countries in that axis who are back to Nigeria trying to relocate. I'd hazard a guess that job prospects for immigrants who had their first degree there are not so good.


Now to medicine locally.
Fact is studying medicine in Nigeria may open doors for you world over that some vague courses in some parts of Europe would not. If you're smart about it, you could easily take qualification exams and go work in UK, US other first world countries or even Middle Eastern countries which all pay very well.
Like it or not, in terms of job prospects and migration, medicine is still one of the best courses to study in Nigeria.

SamReinvented:
US generally do not ask for statement of account regardless of who is applying... but for most countries, yes, you’d have to prove that you can feed yourself while visiting. Doesn’t matter if you’re married or born to their citizen. If you want to avoid that hurdle, the right way would be to get a passport for your family, if they qualify for one.

Thanks for this... Was wondering why he has to apply for a visa for his kids if he's a Nigerian citizen.

XiaoLi:
I think you are wrong here, inviting your spouse and children to your country of origin is different from inviting your immediate family to your country of residence. Do you think an American living in Nigeria will need a statement of account to get an american visa for his legally owned children born in Nigeria by a Nigerian woman? You can enlighten me.

Since you're a Nigerian by birth, then your children should be entitled to a passport irrespective of where they were born. With a passport they're citizens and you don't need to apply for a visa when they visit. This cuts across most countries except the rules in Nigeria are different

XiaoLi:
This is exactly how Nigeria works, laws are made withouth using common sense, the first time i tried to bring my wife and kids to Nigeria the people at Nigeria embassy in my country of residence asked me to bring my statement of account to make sure i can take proper care of my family while in Nigeria, i asked them if it means i cannot take my family to Nigeria even if i'm broke..they couldn't answer this question but insisted that providing my statement of account is one of the requirements. There's no common sense on that.

Most countries will use your statement of account as supporting evidence for proof of funds when applying for an individual visa or family visa. It's nothing new.
No country wants to admit people that'd put more burden on their system.

tatax:
The first question my mom will ask you is "what do you do to have the money to gift me a car".. if no good or reasonable answer or no job known that could finance that, then she won't recieve it.

The lady did so well to gift her mom a car but if it wasn't gotten the right way then there is no blessing in that..

My friend will you shut up!
If it was a man who bought a car for his mum, will you be saying this trash?
Or do you think all women are like the paupers you have around you who are not productive?

Seun:
If the president’s tribe matters, which it should not, I think it would clearly be the turn of the an Igbo or other south-eastern person to hold the position in 2023. The north would have held power for 11 years, and the south west for 8 years. If we group GEJ with the South East, it would still be their turn since he ruled for only 5 years.

If we can get a very good Igbo president in 2023, their yearning for separation will gradually fade away. Hopefully the Igbo president will not make the same mistakes that Zik, Nzeogwu and Ironsi made in the early days. Mistakes that set the country on a dark path.

@Seun

A quick question.
Why are discussions on crypto banned on NL?

I believe this rule which has been on for a long time needs to be looked into. It's use case and adoption has tremendously grown over the years.
Just like any form of asset (digital or physical) out there, there are those who may use it for fraudulent purposes.

It's adoption has markedly grown in Nigeria recently. People should be able to come here and find the right information.

I would have done more explaining but you're a techie and I'm sure you already know lots about it.
Also, most of the prevalent ads here these days seem to be around it. Makes it interesting why discussions onnit are still prohibited.

Please ammend this rule

Misterdhee1:
If your knowledge of history is really strong, I doubt you would say this. Igbos' misuse of power in the first republic was the onset of the very problem Nigeria is still battling with. It's hard for the other major tribes to trust that same tribe with power.

If other ethnicities cannot trust Igbos with power, then don't you think its better we divide the country so people stay with those they can trust?

Naajjii:
Look at you, you are deficient in intelligence hence you cant see the subtle attack

And you the super intelligent is more worried about the 'subtle attack' than the lives of your countrymen.

At this rate, if someone talks on ending Almajiri, you'd call it subtle attack
If your politicians are being tasked on their duties, you'd say subtle attack
If people come out to protest killings by BH, same thing..

Can't you see that you and your countrymen seem more bothered about a hapless dress a lady wore than the lives of their brothers?

Naajjii:
You sounded like nyamiri, thats why i didnt check, but now i checked you look like north central people. You made this post to attack your fellow northern muslims

Just imagine!!! Does everything have to be viewed through religious lenses?

I wonder what in his post can be considered an attack. If Northerners cannot tell yourselves the truth, is it others that would?

Now he said he's a Muslim, the next thing will be he's not from Kano.

NL1960:
Such Indians borrow from banks in India and not from the banks in their country of relocation. They repay the loan in local currency and so not affected by exchange rate.

Not necessarily. It'd be difficult getting a loan in a if you're not a resident of a country or have good assets there.
One of the advantages developed nations have is ease of availability of cheap credit.

Once you have a steady income source and good credit history, you can get good sums from a bank at relatively cheap rates. Even better if you're a business with a sensible outlook.

Lacking a profile of our citizens in Nigeria has largely prevented banks from doing same. With BVN, it helped banks give soft loans at cheaper rates.
Now imagine if everyone had a credit history with a given number that is added to or reduced over time based on alot of everyday activities. In that case, you could get a 5-10 million Naira loan payable at 3% over 5 years from the comfort of your home. That money will be put back into the economy to make it grow. CBN is trying to force banks, but tge underlying platform is lacking

Manwarrior55:
People that bought in March are over 300% profit already.

The new trend now is people don’t really trust fiat anymore, the profit takers would rather buy stock or buy a more stable crypto like XRP with their profit from bitcoins.

It's on its way to become a store of value one can trade anywhere in the world. With more adoption, the price will appreciate.

What's driving this run is more of institutions buying up volumes in millions of dollars and some have almost half a billion in it.
Everyday folks will come to play after it settles above 20k and goes ballistic.

BTW, XRP ain't stable though... It makes abnormal moves on rare occasions and dumps in between. It's one of the least performing of the majors over time.

[

Bitcoi breaks all time high...

For sometime now, it has been the best performing asset. It's likely to continue that way for sometime as adoption increases.

BTW, I'm not asking anyone to buy now before you get dumped on

NL1960:
Once they relocate to another country and they start receiving salary, they take a loan from a bank in India and open a business back in India. Every month end, once paid, they transfer some of the money to repay the loan while the business is getting its feet. Over time, the loan is repaid.

That's what a good number of Nigerians want to do but are held back by two things
1. Our currency is too volatile... You may end up paying double of what you borrowed. The exchange rate does not matter much, it just needs to be stable.

2. Finding dependable folks back home to help with the biz. People in Nigeria believe those abroad pluck money from trees and are ever happy to make the person their palliative

DexterousOne:
Its 499 in the platforms people use for foreign stocks

Now many young Nigerians will panic buy into bitcoin
Further dragging the currency down
This Emefiele sef

Not necessarily bitcoi... An incresing number of Nigerians now save their money in stable coins... They are coins which are pegged to other currencies, most times USD and their price does not fluctuate with bitcoi value. I even saw an advert on nairaland for people to protect their Naira from devaluation by changing it go such
The increase in volume/popularity of such coins has helped to drive the price of bitcoi up.

Fact is most remittance to Nigeria comes in through that means and of course its out of the control of CBN. That's why some remittance companies abroad can offer close to black market rates and not CBNs rates

With a good number of central banks around the world including the Chinese and European CB testing digital currencies... If those come on board, I see many Nigerians going for them