₦airaland Forum

Alot has happened today and it's not nice to see folks leave.... Hopefully, they return...

Questioning opinions isn't bad moreso if done properly. I also question my bias. That's how to survive in this space... For example, even though it seems bitc0in will go on another rally and I've planned for that, from time to time I question that thought process and see where it could go wrong.

Let's not forget that bitc0in was birthed when questions were asked of the current financial system following the 2008 crash and adequate answers were not forthcoming.

Folks should feel free to ask why of anyone... That's what learning is all about.... That's how issues are sorted... We should endeavour to do that with the right mannerism too

Mazinewmoney:
Man I appreciate your input. I've been holding for two months and will still hold till April. From your Analysis, do you think that SLP will get to it's ATH of 0.4 soon considering it's currently Value and also any possibility of getting to $1 before that April?

Setting fixed targets before taking position is an easy way to get rekt. Another is babysitting long term positions. If you don't think it's worth selling, then let the coyn be

It has a mcap of 200 million and well distributed across exchanges (though not on coinbaz). We've seen similar capped coins do multiples in a short time. If the market rallies, there's a good chance it could hit 0.4 and even surpass. It's a relatively new coin too which is a good thing. It's connected to axie so I'm wondering why it's been selling off...

All said, there's a reason micros are micros. For a coyn like slp, I'd struggle to have even 5% of my portfolio in it... Irrespective of if it pumps or not.

Ezemarcel:
Binaz has increased their bsc transfer limit again

Hehe... Maybe they're tired of micro transfers clogging their system

skayT:
I observed that the USD stablecoin is USDC on LUNO. However, it's USDT on Binaz.
Can I possibly transfer from my USDC wallet on LUNO to USDT wallet on Binaz?

Hmmm..... There are over 10 stable coins and they are not interchangeable....

Also, a particular stable coyn can be transferred on different smartchains and if you mix them up, you might lose your coyns.

Finally, when transferring across exchanges, coyns with low transaction fees like xlm, lite,bch, are cheaper. Most stable coyns are built on eith which is expensive to transfer

angelfallz:
I was open to using the e-naira wallet. But due to the failure of getting the email activation link, I have lost interest.
My email that i have been using for more than 15years, is what i used for my BVN. After contacting CBN via facebook(the complaint i sent through email, they are yet to reply) to lodge my complaint on not getting the activation link in my email, they said I should meet my bank to review the email I used for BVN.
Me I don't have time for that. My email that I used for BVN is 100000% correct, anything BVN I have closed that chapter long ago.

On the updated version of the app you can manually input your email while registering

TheFinance101:
Consider your risk tolerance and financial goals before opting for any investment option. www .overwood. ng focuses mainly on the safety of your funds and providing you with safe high-yield investment options to help you build long-term wealth.

Your site and app looks neat...
As you know, there's been lots of default from similar good looking platforms of late... Mainly in agrotech... So investors would be more sceptical going forward... Which isn't bad...

All said, there's is there a live breakdown on how users funds are invested at any point in time. Also, what insurance is there or regulatory backing to ensure users get their funds?

skydiver01:
Yes my brother, I don pass vex sef. Good morning.

Has the death penalty for these kidnapping, terrorism etc etc been implemented? No!

Btw, you did not answer the question below.

If the death penalty for those serious crimes has not been implemented, why do you think a death penalty for less serious crimes would be implemented? To change such laws, it has to go thru the National Assembly, president would sign and law enforcement and others would do their work. In any jurisdiction, it takes years to secure a death penalty. Imagine the courts flooded with trival cases years on end....

I'm trying to be practical here....

To your questions, my initial answe was simple. Those in leadership should start by getting some macroeconomic policies right. The populace should be able to pressurise them on that. We've seen that work with some erroneous CBN policies in the past

Jerry59:
Are you doing the staking on binaz?

I stake on a number of platforms

awele186:
Is staking on binaz advisable?


A lil update.... 80 bucks more in 10 days...
I'd like to round up this portfolio in the coming days and lock it up for the time being

While I can't vouch for any platform, but if you think binaz is safe enough to keep your tokens, then their staking platforms have thesame safety.

Their rates are relatively lower but the outside defi world which offer better rates is still new and risky if you don't know what you're doing

jedisco:
A gentle reminder that if you're tilted towards bitc0in going on a rally and selected the coins you want to hold, it makes sense to stake them and earn rewards.

........

With staking, you're not fidgeting with your coyns and would always keep in mind how far it's extended from your buy price... So when moon folks start raving about the coyn at the top, you slowly just take profits.

These are screenshots of some rewards earned in some of my staked portfolio, one of these is less than a month in.
It's just common sense.

A lil update.... 80 bucks more in 10 days...
I'd like to round up this portfolio in the coming days and lock it up for the time being

If you've already prunned down what coyns you want to hold for this run or in the final stages of doing that, then tge next thing should be earning profits on those and going to sleep...

I continue to emphasize this cos it's one aspect of crypt0 that's largely underutilized.

For folks who want to stake and still trade actively, a way I do this is to split my portfolio size.... Stake or earn on a portion and trade the other.... The major advantage of staking is not just the profits but that one can monitor the market from a birds eye view and stops one from making rash decisions with every 15 minute move... Cashing out is easy when you trade less.


Anyway, as Avax continues to do well, if like me it forms part of your portfolio, then this is a reminder that Aave and other yeild platforms have deployed on Avax and one can make good profits on while waiting to cash out... Personally, I'm not in a hurry to cash out on Avax just yet... I don keep am for fridge till next yr....

For those who don't know, Aave is one of the most robust defi platforms out there with almost 20 billion usd in assets. Currently the yield on Avax is 13% apr on Aave and 23% on Beefy... Also, on Aave, you can borrow against your asset while still earning interest on it.... It comes up to almost negative rates....i.e you're paid to borrow.... I haven't done this yet and I'd advise folks not to except you know what you're doing... Moreso I wouldn't borrow stable coyns against my crypt0 to further invest in crypt0... Thats very risky... equivalent to leverage trading....


P.s... This is not telling folks not yet in position to cahse Avax. I'm done buying Avax and Dot for this run.... There are other stuff I'm looking to add up on if a dip comes

skydiver01:
.....

Finally, besides being for or against capital punishment (lets leave that to one side for the moment) can you suggest what will "certainly" change the behaviour of Nigerians and Nigeria for the better that has not be tried in the past? remembering of course that all those that have been tried in the past have failed.

Hehe.... Take it easy.... I know say u dey vex

In a multicultural society like Nigeria, one does need tact to solve some issues.... The same corruption bedeviling the current system will not disappear overnight. Kidnapping, terrorism, armed robbery e.t.c carry a death penalty.... How much has it helped....

Bottom line is that folks in the right position need to start making the right macroeconomic decisions.....

Donbrig:
@jedisco, you are indeed brilliant and a very deep thinker. God bless you with more wisdom and knowledge.

Gracias

Mazinewmoney:
Jedisco can you help me Analyze this S.L.P

That coin wan send me go Village. Say something about it please

If I was in it, I'd hold... Looks to be forming a floor... Doesn't make sense selling at this price point

Another reason not to buy a coyn without looking at the weekly chart

I started this thread after the last selloff so we could share ideas and learn to ride the most bullish asset class in recent memory.

I'd say this at this stage of the market where it seems more likely bitc0in will rally further in the coming months (hopefully after a dip).

At this stage of the market, sensible folks should have outlined their strategy, know what coyns they want to form the bulk of their portfolio watch from a birds eye view.... I stated a few weeks back that most coyns would likely put in at least 3x from current market valuations before this cycle tops.... That should serve as a guide


If you've been on this thread all this while and you don't have a strategy for the next phase then you're very likely going to lose most of your portfolio when the time comes

Ibeme:
@ Jedisco, nna777, priceaction

With the way Shib has been holding that 50 level, do you think it's worth a bag?

It's still within the triangle I highlighted earlier... Either the pattern resolves or it morphs into something else.

I'm not so bothered about shib.

It's very likely it'd do another x5 from current valuations in the coming months as bitc0in is set to continue its rally. That said, if shib goes on a rally from here, it'd surpass the market cap of doge which has been consolidating for a while... I'd lean towards doge moving first before shib. Shib selloff also coincided with hitting the market cap of doge

GabrielYulaw:
Hi Jedisco! Aren't you and the Sailor guy the same person?

It's quite obvious I think

ElixExo:
Tbh I'm peeved about the whole development process, but the rollout plan is actually quite solid, eNaira would be great for getting dollars out of the hands of the black market. Nigerian expat boomers would eat this shit up, it's a safe and direct way to send USD from a domicilary account to someone in Nigeria without added costs.

I just wish they'd rollout the actual blockchain sooner, their lead developer said they've been working on an app that doesn't require a bank account, that should be the REAL app, with that you can expect sending and receiving from MOMO accounts since MTN is getting complete approval soon.

But even with that eNaira won't see mass adoption, since the government can just freeze your account on suspicion of money laundering or trading crypt0.

Money is like water.... It follows the least path of resistance.

A while back, CBN blocked all remittance companies abroad and made remittances go through a strenuous process. End result was that remittances dropped to record lows. Folks resorted to using crypt0 either directly or indirectly. Some of the foreign remittance companies ditched the CBN regulation and continued with their previous straightforward remittance simply because they couldn't lose income from Nigerians who formed a bulk of their base.

The process of remittance used to be straightforward for most Nigerians in diaspora. Simply put, a person sets up an online account with the company, pay into a designated account and within minutes the sum is reflected in ones Nigerian account using market rates.

If the new process by the CBN isn't easier or at least equivalent, it'd fail. Simply because money follows the path of least resistance

All said, as currently implemented, how would someone in diaspora remit funds using enaira?

ositadima1:
I created the wallet account, never loaded it. It looks like more work need to be done.

Aside early teething issues, the app is slick amd does work. It's still bare bones at this stage....
But if they intend to keep it this way, it'd definitely not deliver on anything they promised....

As of now, it's just another payment gateway. Kuda and others are much easier to use than enaira wallet...

Kuda is really slick and easy to use. Folks would naturally get more needs comfortable using it as time goes on. They could move forward and start offering some safe investment options e.g TB's or bonds inside the app. Right now, they have a savings tab with reasonable rates

skydiver01:
I absolutely agree with your first three paragraphs but not the fourth (bolded). Nigeria can build its human capital by redirecting stolen/pilferaged funds from education, health and infrastructure (roads, electricity etc) annual national budgets. Integration with foreign nationals has been among us in Nigeria since and before independence and Nigerians have by and large chosen a path of pilferage and corruption simply because of greed. This has also continued to increase the poverty rate of the masses over the last four or five decades.
....

You've raised some points...
I agree, alot can be done to cut corruption and channel it towards education so as to build capacity. That said, there should be a means of retaining some of the bright heads too or bringing them back after they've relocated as it takes years to build such capacity. Take a doctor or nurse for example. You're not going to replace them overnight... Even developed nations find it easier and cheaper to raid developing nations to fill up such roles than build capacity to train their citizens from scratch.

OTOH, I don't agree with capital punishment or excessive highhandedness for minor crimes. There are modern and reliable ways to deter people from social vices. Fines and even prison sentences do more in turning the society around than death sentences.
Making traffic offenders pay fines and go through a retraining process or suspend their license will be more cheaper and effective than severe punishment.
You wouldn't want to live in a country that kills folks for skipping traffic lights.. If Nigeria legally kills her citizens for such, then that'd further degrade us in the eyes of the world.

ositadima1:
On a serious note, these headlines though:

"e-Naira offers cheaper, fast remittance option, says CBN" - Punch Newspaper

"eNaira would boost diaspora remittance flows – CBN" - Nairametrics

And a few others. Now, how is this so? I am not saying e-Naira has no potential, but how is it going to boost remittances?

So far, it just looks to be another payment gateway which it doesn't excell at.

What I don't like is having to input the wallet login details into a third-party banking app to top up... That in itself is a security flaw waiting to be breached.

It's still early days but if the current wallet is their vision of what a cbdc should be, then the CBN is more deluded than I thought. They should have just kept calm and let other nations issue theirs so they copy...

The next wave of colonialism if allowed would not be fuelled by the pursuit of natural resource but the pursuit of human resource from developing nations who can blend into the middle class of developed nations

Take Canada for example, only Nigerians of a set calibre can fit their criteria. These are usually upper middle class Nigerians. When they emigrate, they have to act well and be on the right side of the law for some years before full documents are given. Also, for most nations, one can't access public aid for those years, most folks would have to work, pay taxes and most times get some educational qualifications. The whole process is like a life school built in a way that they get the best who can pay their dues initially. This is why most folks who emigrate there legally are usually doing well for themselves in 5-10 years...


The downside for the poorer nations is the fact they nations don't develop by losing their best heads- except they have a way of bringing them back later on which Nigeria currently lacks. Saving grace is that these folks remit forex back home which has been what has sustained the naira in recent years...


Although it's not always black and white, I side more with this being a form of colonialism. Nigeria can barely build her human capital, whereas, richer nations come and seive the best.... This can be only turned around by having some form of reintegration.

LordAdam16:
Interestingly, this offshoring and H1B1 visa onshoring causes a substantial downward pressure on wages that essentially stops it from spiking. Also, it enables these economies to tap top talent regardless of location at the detriment of less developed economies. Further perpetuating a hierarchical global economic system where the rich countries have a monopoly on high-value products and services; middle-income countries thrive on labor-intensive, environmentally-unfriendly products of low- to- average economic value (what development economists call the middle-income trap); and poor countries have to forever rely on aid to balance budgets.

I like this!

I used to think that Western nations with lax migration rules were helping folks from less developed nations. Not anymore. I've come to see that those nations benefit more from migration than the migrants themselves who are emigrating.

The birth rate in most Western nations has been on a rapid decline well into unsustainable levels. With more people getting older and hence relying on public funds rather than paying taxes, they know that to sustain a vibrant economy, they need to fill up those numbers and do so quickly hence they go shopping from other nations. It's much more difficult to raid fello developed nations hence they turn to poorer ones. But then, the catch is that they want to get the best heads from those nations not just anyone. This is how their migration policies are crafted- not just a lottery.
This to me was the centre of Brexit... Not that Brits didnt necessarily want foreign folks, but they wanted to have that control. Even China has very much relaxed its one child policy and now aiming for three.

BuisnessThrills:
u can check OLT, the coin has potentials and it's solving a major problem in the eco system and above all the price is still really low

I don't think 'low price' is a reason to get into a coyn. If by low price you mean market cap, the question now becomes if the market cap is low because it's a new gem which will rise or because it's practically of no use.


BTW, what problem is olt solving in the ecosystem?

Sailor1:
Chz did retrace, and I got an entry... Sadly, the size of my entry wasn't as much as I'd have liked...
Reason why I like getting an exposure before the first move and then add-on on successful retest after the breakout...

I'm quite bullish on chiliz for certain reasons...

1. Most fan tokens are built on it.... It's like the eitherum for fan tokens. Fan tokens go with the hype and will pump when their time comes. Chz showing strength is a good sign.
2. As we've seen in the past, it usually has strong pumps. Also its market cap is in a range where such moves can continue.
3. It's current move has gone largely under the radar. I like silent archivers.

4. Being that most fan tokens are built on it, as we've seen, one could get the opportunity to get free fan tokens by staking it... Currently staking it to earn man city fan token...


The entrance of English premier League clubs now venturing into the fan token space, could be what sport tokens need to kick-start another rally

As the market trends and coyns start having huge rallies, one may be tempted to jump-in but it's always good to exercise caution and zoom out.

For large cap coyns, I usually wait for them at the weekly...

For certain midcaps and meme coyns that have had only an initial leg of a pump, the daily support can also good spot.... Case in point is mana and chz

BrokerHaruna:
#XEC ecash, the future of digital kurrency. Keep watch

You've said this on multiple occasions... Lemme ask...why do you think this is the case?
What makes ecash different from hundreds of others?

Nice daily close on shib to regain the daily support... Also a double bottom....

Overall, it's still in a steep downtrend..... Resolution is getting close... Time to pay attention perhaps

Ibime:
MVBIII list is out. These are my plays. More confident in the first three.

All 0.1% slippage except Valkyrio which is 2.3%

Valkyrio
0x405cff4ce041d3235e8b1f7aaa4e458998a47363


Waterfall defi
0x2fa0cac2c75efb50382b5091c6494194eacf65b0


Wanaka
0x339C72829AB7DD45C3C52f965E7ABe358dd8761E


Bomb Crypto
0x00e1656e45f18ec6747F5a8496Fd39B50b38396D


Binamon
0x08ba0619b1e7a582e0bce5bbe9843322c954c340


Jedisco, these are the type of shïtcoins you can go to sleep on, but check once daily and sell if they have had a run - 3x and above

Gracias... Coyns don choke market

Had a look at them... They're meta or gamefi based... Seems that's the new rave...

Na valk I wan buy.... The thing don pump go.... I go dey look again tomorrow...

eche45:
Snr ur take on this kadena(KDA)
Is it worth holding?

Not much my brother...

I know it's been pumping recently which its why its been popular...
If not already in position, I let the hype cool down b4 reviewing pumped coyns

EmmanuelScott1:
So we should still be expecting that dump, if LTC reaches 300 right

Hehe...
Past result is not assurance of what'd happen in the future...

Anyway, if I'm in ltc, 300-325 is a sensible place to take profit. It's a dino coyn that moves in steps

nonut:
So, this is the dump before the DUMP?
Mogbe!

Just observing past trends...
All said, the market doesn't move in a straight line.
Crypt0 is inherently volatile... mostly, I find it better to let the market be than trying to time every move