₦airaland Forum

PureFace1:
You don't even know what you are saying

USDT is still crypto currency so it is not really illegal unless Nigeria banned crypto currency again and it is very legal in many countries that didn't ban crypto currency.

International sellers collect money through many mode of payment, there's hardly a website that don't have making payment in crypto currency these days so you don't even know what you are saying.

USDT is illegal in Nigeria, it has no regulatory backing, that is why you cant use it to buy and sell goods, that is also why there is no public exchange for it.

International sellers do not take USDT as a mean of payment because of regulatory issues

can you pay for oil in usdt
can you buy clothes with usdt
can you buy machineries in usdt
can you pay for school and medical fees in usdt

NO you cant, you can only buy some software or crypto related goods with usdt.

PureFace1:
Keep living in denial lol

You can not satisfy the demand of the customers coming to your shop but you are mad that the only dealer in the area that is able to satisfy the demand is selling at whatever price he like, of course as customers keep coming to his shop he would keep raising price because he is the only dealer that have what they need in sufficient amount. It is still basic economy.


Your own idea now is too kill the dealer so that the customers can come back to your place and tolerate the bullshits you offer them and suffer without even getting what they need or force the dealer to sell at your own price when you are not the one that open shop for him.


You think people will buy at the rate pump up by spoofing if they can easily get it a cheaper rate elsewhere lol?

why do I have to keep explaining to you that USDT isn't dollar or cant be used for international trade

USDT is a trading stablecoin and can only be used for speculative activities

Nobody is buying usdt to buy oil or to import goods or to pay school or medical fees, if they were really doing that then there will be demands for it to the tune of millions of dollars

In nigeria, the 24 hours volume of usdt on binance is just about $1.5m, that is enough to show that people arent demanding for it like you think in your head.

Traders are just playing a good game, speculating on it and making huge profit from from arbitrage trading

PureFace1:
USDT is digital currency but it is back up by real dollars.

It is just like the money in your bank app and wallet, it is not real money but it is back up by real naira in your bank's vault.

Keep playing ostrich and run away from the real problems.

The real problem is CBN or banks in Nigeria can't satisfy the demand for USD in Nigeria.

So of course people will look for alternatives elsewhere even if it expensive or illegal.

If tomorrow no filling station sell petrol in Nigeria or they can no longer satisfy the demand for petrol do you think Nigeria that seriously need fuel for business wouldn't source for it elsewhere either by crook or hook even if it is very expensive and transfer the cost to customers and consumers?

You guys keep blaming everyone for your failure to satisfy the demands for USD in Nigeria.

with the way we depend on imported goods in Nigeria and our politicians packing every available usd into their pockets with ridiculous amount of naira that they printed and looted usdt is still undervalue.

Politicians are the one destroying this country but keep running away from the real problems, the people that will genuinely need the dollars for business wouldn't be able to get it but you say they must leave their business to die and put up with every bullshits from CBN.

the money on your bank app is real money and different from the USDT, USDT is not real currency but a stable coin for changing positions in crypto, it is different from real USD or digital money in your account.

Many international organisations do not use USDT for trading goods and services because of regulatory issues and anti- money laundering laws.

The demand for real USD has nothing to do with the demand of USDT, the demand for USDT at this moment is used for speculative purposes

the only reason traders are selling usdt/ngn pair in the unofficial rate at cbn is because of greed

Are they sourcing USDT from Nigeria government? NO or are they buying NGN from Nigerian government? no

so why are traders using the black market rate on binance if it is not about greed and arbitrage profit

PureFace1:
Keep playing ostrich and run away from the real problems.

The real problem is CBN or banks in Nigeria can't satisfy the demand for USD in Nigeria.

So of course people will look for alternatives elsewhere even if it expensive or illegal.

If tomorrow no filling station sell petrol in Nigeria or they can no longer satisfy the demand for petrol do you think Nigeria that seriously need fuel for business wouldn't source for it elsewhere either by crook or hook even if it is very expensive and transfer the cost to customers and consumers?

You guys keep blaming everyone for your failure to satisfy the demands for USD in Nigeria.

with the way we depend on imported goods in Nigeria and our politicians packing every available usd into their pockets with ridiculous amount of naira that they printed and looted usdt is still undervalue.

Politicians are the one destroying this country but keep running away from the real problems, the people that will genuinely need the dollars for business wouldn't be able to get it but you say they must leave their business to die and put up with every bullshits from CBN.

you cant buy dollar on binance but USDT

USDT is a crypto stablecoin pegged to the dollar thus banned in many countries

International sellers do not collect USDT for trading goods because there are lot of regulatory risk involved

What is happening on binance p2p is speculator using USDT to speculate on the Naira, they have moved away from USD to digitally use USDT

PureFace1:
As long as there are people willing to buy at the price it is listed, It is not manipulation the demand is just too high that people are willing to buy at that price, if people are not buying at the price listed the price would be forced to drop.

Do you think people are stupid?

If people can easily walk into any banks in Nigeria or online and secure Dollar at the official rate for their business transactions you think they would be patronizing Binance and other black market dealers ? but the dollar is just too scarce that it is not really available, if you call that manipulation then you are stupid.

What you guys want to do is kill other alternatives sources of getting dollar, with CBN and banks having absolute monopoly and tolerating whatever is dish out but usd is not a Nigeria currency and CBN can't have the absolute monopoly over it.

it doesn't work by demand and supply. market marker create demand by artificially creating demands through bots, they also profit from the difference in the bid-ask spread, Binance also act as a buyer or a seller for a specific transaction when there is no suitable counterparty to fulfill the order.

so it is not how you think you said it works is how it works in real life. they can use spoofing to pump up demand

and lastly, USDT isnt Dollar but a stablecoin pegged to dollar

PureFace1:
You are spreading misinformation

Selling is all always cheaper than buying when it come to P2P in all platforms.

The minimum trade amount for both buy and sell is 4000 naira in Binance.

Everything still follow the law of supply and demand, If there are nobody buying usdt in the price listed for it on Binance the price would drop.

But the problem is demand for usdt is very high which mean it is not really manipulation but the true value of usdt, even If CBN banned Binance there are so many Platforms with P2P like Binance unless CBN banned Crypto currency again which it didn't even work in the past.

CBN can just make dollar sufficient in the official window at a cheaper rate to discourage people from going to Binance to secure usdt as whatever rate is there, but it is easier said than done.

anything online can be manipulated.

USDT isnt legally approved in Nigeria and many jurisdictions do not recognize usdt or any stable coin because, it is not real dollar

Binance is a market maker so they provide liquidity that also means that can manipulate price to attract people to their p2p platform.

these group of merchant that you mentioned in your post is Binance, they are doing what we called spoofing and also manipulating price

spoofing,” which involves placing a large buy or sell order for a cryptocurrency on an exchange, with no intention of executing the order. Instead, the goal of the market maker is to manipulate the price of the cryptocurrency by creating a false impression of demand or supply.

Watianoengineer:
For those blaming APC and president Tinubu for the hardship in the country, are you all aware that UK and Japan are currently in economic recession? Is it APC and Tinubu that is ruling both nations? Nobody should blame APC and Tinubu for the rot the PDP government of Jonathan caused. What we are suffering today is the result of the Jonathan government's recklessness. Peter Obi and his PDP gang brought Nigeria to her knees. May God help our dear president Tinubu to fix the country like he did in Lagos.

Are we in the uk or japan?

All these whataboutism

Why cant we be different

Karlifate:
It's. US of A, not Nigeria United Arab Republic.

And then?

Flight is cheap, California to la is around 50 to 70 usd, why waste your time on a 5 hours drive.

aswani:
Why not, this is US not Naija. Travelling by night is much quicker and not the dangerous life threatening activity it can be in Nigeria.

I had a friend in UK who preferred to travel on a Friday night to see his mum for the weekend rather than in the evening after work. He would leave at around 9pm rather than 5pm or so to get stuck in traffic for 2 or 3 hours.

I think his journey was London to Manchester though not sure.

I am talking about the US not the uk

Btw, how did uk came into the topic

Haakeem:
Ogun sango u.
Waka to you and your motivational speech.

Motivation speech..lol

You all know this is a made up news by sahara reporters.

Go by road in the night by 10pm

Fashola is right, the president has his own duties while the state governors had their own duties

Duties like water, sanitation, rent, property laws, state security, state road, state employment and pension are in the hand of the state government.

There are many state government not doing anything except stealing state property who should they be accountable to.

Everyone keep focusing on the federal government while the state government do nothing to better the lives of their people

Country wey get sense

soon thousands on Nigerian youth will be on tiktok doing the same robotic moves and trying to gain endorsements

Majority of billionaires are old men.

Majority of millionaires are men within 45 to 55 years

There is a reason for that.

If you have a career or business, it takes about 20 to 30 years to build them and become successful.

So if you start at 25 years to build a career or business, it will take you 25 years or 30 years to make it successful.

There are always outliers like Zuckerberg but they are few.

The bank offered him 1m naira loan for his salary range but he rejected it.

All over the world, banks can decide to reject or give you a loan based on your income and the ability yo pay back.

In some countries, they have a credit rating system which rates your salaries and how often you pay your bills, with these information, they know if you are qualified for a loan or not

White bosses are ruthless.

Once you do wrong or something unethical or unprofessional, you will be sacked because you have lost their trust.

BloomingDale:
Hopefully the low birth rates get to Africa cos of high cost of living. African women have started the discussions on Twitter on how most of them are miserable in their marriages. Hopefully the young gullible ones are reading and learning.

The more a country is developed, the lower the birth rate because of high cost of living and also education

Lifeinlight:
which lot of women are happy in their marriage? Where did you get your data from? Most average Nigerian women stay put in marriage majorly because of finance. Promise them a financial backup and watch how many will dump their husband without thinking twice. Only few sensible ones amongst them leave an abusive marriage no matter how poor they are

Have you gone all over Nigeria to confirm your bias or you are just cooking up data

BloomingDale:
Research shows that married women with children are the unhappiest. Even the women married to rich men don’t want children cramping their lifestyles. They most times leave the children with their nannies to take care of.

The simple fact is that women are no longer interested in having children. Birth rates are declining. And that wave will soon get to Africa.

Another storm that is brewing up is women no longer wanting to be with men, hence there is a rise of single, lonely men. Women worldwide are getting tired of men.

Men benefit a lot more from relationships and marriages hence why they are fighting feminism tooth and nail(as if their lives depend on it). They see feminists as the enemy that is removing the feeding bottle from their greedy mouth.

there are low birth rates because of high cost of living

This is what my own research says

BloomingDale:
Ok, high cost of living contributed to that too, but It’s even the rich women that are less likely to give birth. Women are realizing everywhere that motherhood is a an arduous and thankless job. They will rather be free to enjoy their lives like the men do.

Women married to rich husbands are full time house wives, Rich women are focusing on their career and not wanting to have children because they cant do it alone

Women love the joy of motherhood and every body knows that kids are selfish and do not care about gender when they are hungry

The opinion of the women you posted aren't universal opinions due to the fact that there are different cultures all over the world

Lifeinlight:
Carry out the survey yourself within your community then you'd know. High percentage of women aren't happy in their marriage compare to the happy ones

I also need to correct a notion from you, the fact that a woman could walk out in a marriage doesn't mean she's the cause of divorce or breakup. Lots of men are beast, only a reasonable woman will take a walk without thinking twice while they deal with him ruthlessly in the law court. I am not saying some women too are exception. Of course some women are the cause of breakup or divorce.

stop projecting and using celebrities as the yard sticks of how average Nigerians live

There are lot of women living happily in their marriages, and there are also women that are sad in their marriages

so saying 85% of women are unhappy in their marriages is not true. what survey did she carry out all over Nigeria

BloomingDale:
Yet their respective government has offered them all sorts of financial benefits which is claearly not working.

yes they refuse because of high cost of living even though they are married and this literally happens in bigger cities compared to smaller cities

for instance in korea, women in Seoul have a lower birth rate then women in smaller cities in korea

there are reasons for that

the high cost of affording an apartment to build a family in major cities is high
There is no work/ life balance, so women will focus on their job rather than start a family

it is not a women thing, it is also a men thing

BloomingDale:
Oga, women worldwide are sick of you men. Oyinbo and Asia women no dey gree born for man again despite all interventions by their government. It will soon get to Africa.

That is not true, asia women and white women aren't giving birth because of increase in the cost of living in their respective countries, it has nothing to do with men rather finances

Lifeinlight:
She's absolutely right. Women are willing to leave their marriage if they can get financial backup. I mean most average Nigerian women though

she is not right, she is projecting

She failed in her marriage and then projected as if every women are like her

where did she get her stats from? which survey did she carried out to come to the conclusion

Governor17:
They had no info bout my wife previous trip cos they didn’t asked me bout my wife

They have all your wife info.

To be realistic, a procurement officer do not need to travel to get a loom machine. It is not a high tech machine and it can be ordered online

wife owns a business. Husband is procurement manager in the same business, obviously this is a family owned business.

Wife traveled to purchase a machine and attend a seminar.

Husband ( procurement officer) is also traveling for the same purpose.

Wife was given visa long before husband applied and wife is still in the US.

Imagine you are a visa officer, what will come to you mind?

Who will be left behind to run the company?

If i was the visa officer i will also deny you because my thought will be, it seems this guy want to japa or reunite with his wife.

If both couples are working and they have no kids,then it makes no sense for a woman to wake up at 4am to cook.

If they have kids,most woman do it,sometimes they cook for the week and save it in the freezer.

The reality is that most men eat at eateries and bukkas during brake.