₦airaland Forum

So as the title suggests. You can ask all your cryptocurrency questions and I will answer them to the best of my knowledge and research.

Estim07:
JustCryptos post=63383798] Secondly, buy a cloud mining contract.
can you please give list of some reliable cloud mining site with regular payment?

Genesis mining
Hash flare
I mine on both and can help you with pool setups and discounts.

I like the fact that you want to diversify. Here's my advice, split for funds unto 50-50. Keep one halve as Bitcoin, split the other halve into 3 places. Buy Ethereum, Litecoin, and Ripple. Every month use 30% of your income to consolidate what you have. Secondly, buy a cloud mining contract.

ameri9ja:
Sort of, I guess. Thanks. Though I don't see how there is intrinsic value in something that at one point had zero value. Also the limited supply of money does not result from it's having to be printed but from it's having to be backed by something. Bitcoin is backed by nothing.

My brother I rest my case ooo

dammyeve:
Bitcoin is not here to replace fiat currencies but to revolutionalize international transfer and serve as a digital store of value like gold.

Exactly

naijacutee:
The trouble with bitcoin is that no one is using it as a currency. Everyone is investing in it. This is a problem.

Yes, right. See Bitcoin as a gold reserve. A lot of institutional investors have said this. Other coins for example Litecoin can be used for smaller transactions. To put this in perspective, the founder of Litecoin said Bitcoin can be used for larger transactions like buying a house or car, while Litecoin can be used to pay for your Starbucks in the future.

And guess what, recently a Bugatti was out up on sale for Bitcoin only. An island in one of the countries was put on sale and guess what payment must only be in Bitcoin.

With time, as the block chain technology is explored, adoption of not just Bitcoin but more innovative solutions will increase.

ameri9ja:
I beg to differ. If the value comes from the cost of printing it then a five dollar note will be worth same as a $100 note. Besides, bitcoin was worth
$0 not long ago.

The keyword there is "INTRINSIC". We could as well be using stones as money. Printing means some initial cost, it also means limited supply. These come into play before other scales of economics. I hope you get my point.

zainmaxwell:
do they have any app for that

Visit any of the sites above. I want to believe you are familiar with buying BTC.

zainmaxwell:
but there is no wallet for ripple

That's not true. I have hundreds of Ripple on Poloniex.

M-PESA is used by more than 17 million Kenyans, that is over two-third of the entire adult population. I am not saying cryptocurrencies will replace fiat money, but be open to the possibility that Cryptos may have wider range adoption that fiat money.

More people will have access to technology in the future. As this happens, acceptance will increase. This may take 10 years, or 100 years. But be reminded that blockchain technology is still relatively new and we have not fully explored its potentials.

My point in summary is that you should be open to possibilities.

ponti93:
Cryptocurrency cant replace physical cash becos it doesn't have fiscal control, secondly nt everybdy yet have access to technology... Cos paying with crypto would require smetin lyk a card or a device where the cryptos will be stored... Think about it... Have you watched the movie #time

Have you thought about the mobile payment revolution in Kenya?

Coldfeets:
Thank you so much.

everywhere now you keep on hearing people talking about trading bitcoin profitably.

So please in a layman's language, I'll be glad If you can tell me how one can trade bitcoin so as to make some profit.

In layman's language you trade bitcoin profitably by buying when the price is low and selling when it is high. To succeed swiftly in this, you need a remarkable capital. Like I said earlier, shift your focus away from Bitcoin (buy and store), focus on other coins Ethereum, Ripple, Dash, IOTA, Litecoin, etc. for trading.

rookidmart:
Nah.

You really can't replace cash.

So there'll always be fiat.

Well, I will not argue with that. I bet those that used typewriters said the same thing two decades ago.

rookidmart:
Thinking bitcoin will replace fiat is delusional.

I like bitcoin and all, but that's not possible.

At most it will be the world reserve currency .

You can never be so certain. It could in 5-10 years from now. The came way paper money replaced coins in some regions, and paper/coin replacing trade by barter. Same way mobile phones replaced landlines. All it takes is time.

What the government is really interested in is how to tax cryptocurrencies and regulate transactions. Follow the news and you'll know where blockchain technology is headed.

Coldfeets:
Thank you so much.

I wish you can continue because I have so many things I will so much like to know about this bit coin as I continue in my quest to fully demystify the bitcoin revolution!

I hope you'll be there...?

You can ask your questions, I will help in the little way I can. Personally, I learnt about this in 2015 but I was a typical Nigerian. Started buying when it was $800 but sold and a lot happened. I just got fully back a couple of months ago. I store several currencies, I trade sometimes, and I mine. So ask your questions.

Coldfeets:
Who solves those complex algorithms?

"Miners". In layman's term call them money printers. It takes some expensive mining hardware to do that now. For example the Antminer s9 which costs almost $4000 and you won't get you capital in 12-24 months.

These mining farms are situated in countries where electricity is cheap because they have to run for 24 hours. In a place like Venezuela, mining Bitcoin has caused blackouts because people are resorting to mining to try and feed their families (the country is in heavy recession). Finally, unless you have about $10,000 to spare, good cooling system, and affordable and constant electricity, and the technical know how, I don't advice any Nigerian to mine in Nigeria.

There's a lot to say but I'll stop here.

ameri9ja:
But bitcoin is not backed by ANYTHING. that's what I don't understand. What exactly gives bitcoin value?

Understand the features of money and you'll understand how Bitcoin gets its value. Money is a medium of exchange, the intrinsic value comes from the cost spent in printing it. Same with trade by barter, the cost of cultivating.

Bitcoin is mined by solving complex algorithms. That's were the value is.

TBC - the billion coin is a scam coin. Do not buy it. I repeat, do not buy it.

zainmaxwell:
please how does bitcoin work in terms of profit how do I gain from it?

Just like the poster above has said, they are multiple ways to make money from cryptocurrency (note that I didn't say Bitcoin). Do you own research and plunge in. I will be starting a YouTube channel to educate newbies, especially Nigerians.

FxBase:
@Justcryptos, thanks for your time. Pls can u share a crypto new site? Thanks again and again

You can try Luno, Paxful, Coinbase,, or Poloniex

Myadstopup:
20 usd eth available, quote me

... contact

FxBase:
Thank you for this, but which other wallet do you think is less on commission

The fees will go back to normal soon. There were a lot of unconfirmed transactions. Increasing the transaction fee is one of the ways to stop people from sending out little amounts. Follow the news and you'll understand.

$200 Payoneer for sale @350. Quote me for details

avast01:
$115 ETH available $115 LTC available
$115 btc available also, any wallet
Contact on signature

...

folak48:
Is the contract for free and what are the tools?

Please read about cloud mining.

Who's the guy wearing a mask, and why?

Hello guys, how are you all doing. I apologize I stopped posting. For some reason best know to the anti-spam bot, I keep getting a ban when I try making a detailed post. Also, I have been super busy in the last 1 month.

I just had to stop by to drop this here.

If you are interested in cloud mining of Ethereum and Bitcoin (this is coming soon) on life-time contracts, please PM me or drop your contact and I will message you. Please note that I am not selling Bitcoin or anything to you, or asking for fees - buy from reputable sellers here (if I do, you can come back here and leave a review).

I hope I come back soon to update this thread. Until then, remain blessed.

If you are familiar with Cryptocurrencies, particularly Bitcoin, you will agree that the last few months have been worth talking about. Bitcoin's rise from $4000 to almost $8000 has seen many enthusiasts scramble for coins. However, if you are grounded and read the news, you will know that the price of Bitcoin is artificial; a lot of people are buying in anticipation of the forth-coming Segwit fork in mid-November. Well, that is a topic for another day. The purpose of this thread is to talk about life-time mining contracts of Bitcoin and other altcoins.

I have been cloud-mining for several months and it has been a wonderful experience. Those who joined Genesis mining early of even in April this year will attest that they had a life-time Bitcoin mining contract. Unfortunately, these options have been removed because of the profitability and increase in price of Bitcoin. What if I told you that you can still mine some of these coins in a life-time contract.

So, if you are interested in mining Bitcoin and Ethereum in a life-time contract, please pm me or drop your contact.

Note: I live by a simple transparency principle. I am not charging any fees or asking you to buy anything from me. Buy your Bitcoin from reputable sellers here. So what is in it for me? Simply referral bonuses when you start mining.

chloride6:
Lucky you.
Through out my time in UI, I never heard of anyone fighting.
Because the law was clear, anyone who did so was going home.
Nobody will beg for you sef.

People fought. Guys don't just announce their fracas. Which hall were you in?

fluentinfor:
N700K/plot lease is not for farming. I guess it is in a rural area.

Urban area you mean. Generally land are much more expensive in South South. I am certain I will relocate in the nearest future.