₦airaland Forum

armadeo:
Guy some times make you no too dey yan out. How can an adult nigerian male speak like this. It means you have no knowledge of economics at all.

I'm not even a social sciences or arts person but I know what you've written there no join at all.


Go and study demand and supply you'll get your answer.

You think one app somewhere can determine the value of a nations currency Na wa for you sha.

I am guessing He his a teen. Probably confusing all this gifts card for a currency.

freeman67:
Dangote Cement plc

How do I key into this? Website? App?

Just yesterday, Person wey I Wan buy films for her hand don turn overnight scammer. This country! E get as e be.

I noticed any time alt coïns pump up like this, a massive wipe out tends to follow. This pumping gives me a sinister nostalgic feelings.

Abisolababe:
Yes, I can help you get it
I'm located in Ondo State.

And 24 hours the whole series? I somewhere in Akure.

Abisolababe:
Amen..thanks sir

Where are you from? Can you help me get The Legend of the Seeker” the whole series?

ernie4life:
This is a bond not a commercial paper

How do I purchase one of these financial instruments?

ManirBK:
chelsea go scatta them on monday

Hmmmm. Son go just Dey salivate right now.

Man U no good.

grandstar:
Your view of foreign investment and trade seems to be based on fantasy and not reality.

Why should Nestle produce the milk it uses locally? Nestle is not into milk production. That its not its core competence. No where in the world does Nestle produce milk. It buys it from farmers. What is hurting Nigeria's forex is that the country does not export enough. The multinational does not owe Nigeria a duty to produce milk.

You protectionists focus on the demand side of forex and not the supply side.

The movement of labor within EU was quite free and not as stringent as you put it, especially when the UK was still part of the EU. Yes, some rich EU economies did delay free movement of labor from new arrivals to the bloc but was eventual open. The UK opened its doors to the new arrivals from Central Europe into the EU in 2005 or so, which was the year they joined. They quickly swamped the local job market and public service. Romania and Bulgaria joined the EU in 2007 but the UK waited till 2014 or so for the new arrivals to come in legally and work.

They quickly swamped the labour market as well. I was in England in 2014 and in the 2 hotels I stayed in London, they had cleaning staff who were Romanians.

Protectionism has failed Nigeria. It is so blatantly clear that I wonder why you keep trying to preach the gospel of it. The government was forced to lift up the restrictions on the 43 products because it was doing more harm than good.

As I have said, protectionism, especially the type you fancy simply destroys the critical and efficient supply chain. When you destroy the supply chain, you might as well just kill the business.

Your last paragraph is based on a myth.

What made South Korea and Japan prosperous today? By taking advantage of the open US market. Even China did the same. What is stopping Africa from doing likewise? Africa has duty free access to most of its exports to the US and UK. It has yet to exploit them. Only Lesotho and Ethiopia are having headway.

Interesting read. I agree with all you said. The point is comparative advantage makes countries rich. You can’t just ban goods and start to expect prosperity. You need to have something others badly want, only then can your income grow and even bend the rules to favour you. Yes, too much import is bad but cutting down on import won’t make a country grow that much (it like cutting down on spending). It an increasing income and investing this income that makes one prosper.

A country needs to focus on it export, encouraging innovation, global competition and not just banning goods only making few people who has the capacity to produce large inferior goods extremely rich.

SavageResponse:
I have been hearing of Taylor Swift for over 10 years but I don't know a single song by her

For me; I don’t even know if Taylor Swift is she, he or they. Curiously open the thread to finally put a face on the name. Her name is the greatness not her talent. The power of marketing.

Ladies are never meant to be alone, it against nature. The first woman, Eve; she was placed with a man right from Day One.

You are engineered to have and raise beautiful kids into fine men and women and one day to be buried by this beautiful creatures. This is your first and foremost purpose, creation has placed on you. You are never meant to die a lonely, pathetic, sympathizing death.

As a woman; When you are no longer here, your success in life are not measured by the earthly things you have accumulated but how well the people you are leaving behind are doing; if you are leaving behind successful, ethical, kind children, then you have did great in life, whether you have a man in your life or you are illiterate does not matter. You will observe that you will be jealous around friends and family. You can’t blame them, true success breeds envy and admiration.

To women, you guys have no idea the enormous power within you; once you strive to do the right thing, the things that are noble, the universe will assist. Do not be afraid of tomorrow, cast away the fear of becoming a single mother or ending up marrying a man that as no respect for his home. Replace this fears with the fear of raising kids that would become a nuisance to you and to society at large.

Do all you can to give your children good education (the best education you can strive to afford, do not be fooled by how small it is), set a tremendous example on how to properly behave and leave the rest to the power that brings you into existence. I can assure you that if you do this two things well, every experience you acquired right here be it good or bad will become a fabulous one during your final moments on this plane. You will look back someday and be filled with deep gratefulness.

Jewessgratitud3

graceilina:
Please I have a question. Between a coin that the price is worth some cents and the one that the price is above a dollar, which one would give me more profit?

My orientation when I first entered into this space. I thought everything goes up. Fantasized on how my profit will look like, when I buy those pennies coins and selling them for a dollar. Then I soon realized they are pennies for a reason.

Stay away from cheap things. Cheap things kills.

graceilina:
no. I changed currency view to naira not usdt

That is definitely the reason.

Evergreen4:
No sir, but I'm willing to learn

Good! You can start from here

https://www.nairaland.com/3430037/what-make-money-online

Evergreen4:
Please apart from yahoo , what other legit business can I do online. Please help before hunger and frustration kills me.

Please don't mention yahoo

Do you know Domaining?

graceilina:
My wallet balance on binance is reducing drastically and I didn't buy any coin. I converted to usdt. Anyone facing the same problem?

Reducing Drastically?…Maybe you are holding the Naira. The Naira is the only thing that I could think of when you mentioned “reducing drastically”

Ceasarceasar:
Abeg mk person reply me

Money won’t be reversed. However, Binance is aware that there could be a delay with banks network in Nigeria and that it may take up to 24hours before payment could be confirmed.

Once you are able to generate proof of payment and the seller is yet to release your cooin, submit the payment proof and justice will be swiftly carried out.

Hmmm, it seems this co1ns have finally hit their temporary ceilings. Anyways; still looking forward to my first 1 dollar gain from this space.

After Suffering huge loses, recent event have finally restored a little confidence in me. Aggressively Buying more dips from here on ( top 5 only)

wunmi590:
It seems you came from a very rich home, for you to say 5k is not enough weekly...

What does he wants to buy? That he can't manage 5k weekly just on food alone?


Before I graduated 12years ago, my parent used to send 5k to me for one month, I know how I'm going to manage myself...

School is one of the place you can curb and learn how to manage your present spending to suit your future spending, as things will keep being on a high side

Lol..You comparing this present economy with an economy before buharii Era, Seriously?

12 years ago a loaf of bread probably cost 40 Naira. Today, that same bread cost 200 Naira. 5,000 Naira was a decent money 12 years ago, a money a person could live on for a month and I lived on it.

12 years ago my pocket money that would last me for an entire session was just 5,000 Naira. Looking From where I am standing you are the one who came from a very wealthy home.

wunmi590:


Tk is enough for you to manage in a week if you are not a heavy spender...

The truth of the matter is, things are expensive these days, but 5k can still be utilised well, provided it only on food and not considering any other things...

It impossible!!! Probably possible 5 to 7 years ago. 10k a week could be manageable for a student.

myonekobosay:
oga it goes beyond fundamentals. Why do you think whales and market makers target the order blocks and make price plunge below or rise above a strong order block to clear liquidity? The system is not fool proof have enough money and you will control the markets

All you will control is speculation (short term trading) but you will never influence the direction of the currency in the longer term.

Your billions can influence what the price will be 10 minutes from now but 10 years from now it is the fundamentals that will influence what the price will be. If the fundamentals are bad and getting worse for the underlying asset, it will eventually reflect in its price. This is true for a commodity, crypptto, stocks, currency, real estate whatever out there.

myonekobosay:
ask luna, ftx and thosands of other projects shorted some to death others may never recover. All it takes is have enough in the war chestthen look for a weakness or glitch and short. people have made billions from that

Yes! You and others like you shorted it because it was heading downwards and something must have triggered the downward spiral. You guys jump on the waves, you follow the trend and it why you all made money from it. The project did not plunge to ground because you shorted it, it plunged to ground due to some fundamentals reason, some of you guys saw this fundamentals flaws and ride the waves.

The Naira did not become an overnight failure because people were shorting it, it was as a result of years of wrong political decisions, some have visualize this situation before hand and have gotten out and there are those just seeing things now and are getting out and there are those who are making money from this woes but in the end it all as to do with fundamentals.

If the fundamentals become better, The Naira will rise again. If you short it, you are on the wrong side and you will lose. So, it not about short or long but what is the fundamentals saying.

I actually do feel very sad for them. We all make mistakes, sadly; there are mistakes you will have to live with for the rest of your life. It sad because this type of mistake will keep cropping up in your life forever, having negative effects.

It a mistake that can never walk away, it can only be managed. That is the situations this single mother have found themselves. I have a lots of these people as a friend but they use to see me as their white knight.

myonekobosay:
You think demand and supply on chart decides prices huh....leave elementary economics and come to the real world where we look for weaknesses and glitches in a system to take advantage. Nigeria is plagued by a plethora of problems and some set of entities have become too fat having benefited from years of exploiting the system so much that they can bring down the system.
America defends the dollar by printing trillions of dollars whenever there is a problem but poor Nigeria can only go borrow 3 billion dollars to defend Naira. The Naira is at the mercy of any whale that can put it in a sizable amount of dollars to keep shorting it because there is just nothing to defend it

It all goes back to demand and supply. It difficult to short something everyone want, doing that will be a fool’s game. You feel safer shorting shitcoinns than when you are shorting bittcoinn. The Demand for the Naira is just not there and then there is this insatiable demand for the dollar.

Printing money does not solve any problem. It even creates more problems, it effects shows in the long run.

doyin01:
It means those people can in the next 24 hours decide to make a dollar to become just 10naira if they want to....or they can make a dollar to become 1million naira per one if they want to since they are the one who now decides the dollar rate...

The level of ignorance is baffling. P2P is an open market, all currencies of the world are currently been traded there. BDC can deal with Rubies, Euro or the yen if they want to on Binance, go there and find out.

Naira is not the only thing being traded there. Why are all other currencies not crashing? Why are they not spiraling downward?

Ether, BNB and even Sol can be traded on P2P, Naira capitalization is far greater than the last two but why are they not spiraling downward like the Naira? This goes back to demand and supply forces. It simple!

People are getting out of the Naira and no one is coming in. If there is any one coming in at all they are far less to those dumping it. If this scenario should be happening to bittcoinn, it will also head downward until it find a new base.

Tsfari:
Everyone knows the country is ffff but if we are really trying to trace the root of this recent decline then we wouldn’t rule out any options. Oseni of arise news would always say “ text book economics is different from real life realities and the current events have proven that( the government have tried increasing interest rates, floating the naira and all other things we see in economic textbooks and the solutions ain’t arrived at yet); so if I was asked to point out factors contributing to plummeting of our currency, I wouldn’t rule out the Binance p2p.

And it’s really funny their aim for doing this … the think they are getting more monies but in actual sense, everyone is getting poorer. In the short term, you can have more monies to manage your micro needs … pay transport, eat food etc but on the long run you cannot be to do major things with money. The extra 100k you made on a 1k dollars wouldn’t be able to make up when prices of flights begin to adjust. You used 1 million to buy 1k dollars, but if air lines adjust their prices following dollar rate, the extra 100k you have on top may not cover it. The same applies to every other thing. Ask business men today how they are faring and you would understand: you may sell your goods today at 2500 and when you go back to buy same goods and quantity, you will discover it’s now be sold at 3000… that means you didn’t make profit from the previous sales and your capital is depleting. Go and check prices of iPhones today, most are adding 50k to 100k … is it this your extra 100k that you are going to use to make up?


We are all getting poor unless you are earning more dollars not merely defending your meager 1k dolllars or 2k or even 10k

Don’t you just get it? The people are broke, 90% of Nigerians no get up to 500,000 Naira for account. They can’t broke the currency. People trading p2p do not even have the firepower to raise the price of BNB not to talk of the Naira.

Prior to this whole p2p thing, the central banks ban the banks, financial institutions from the transactiing of cryypt00 because the Naira was failing, still it does not stop. What is happening to the Naira is on a Global scale beyond internal, it supply and demand forces at work. This current stage we are in has been setup a long time ago majorly due to bad political leadership and funnily it yet to change.

No one want to hold the Naira, no demand for it. You are not producing anything!!! Your citizens are selling their houses, businesses just to push for visa to travel overseas to earn other currencies.

You can be deluded as much as you want but p2p is not even anywhere close to cause of the downward spiral of any currency. Currencies are meant to be traded, if your economy is poor money will leave the economy and move to where things are bubbling. Money goes where it needs to go. And I tell you, we have not even see the suffering yet, at all!!!!!!!!

seankafor:

In here, the life of an animal is safer than that of a human. I can confidently say a goat can trek from Lagos to Abuja barefooted and still comeback in one piece but I cannot confidently say the same for a human.

People are ruthlessly dumping their properties, selling their houses, borrowing money just to get out of here. And you are there watching them and still wondering why we are tanking, blaming an exchange for our spiral decline. It really funny!!!

seankafor:
so only Nigeria trades on p2p?

Why haven't other countries been affected by the p2p market too

Lol…This dollar thing choke ooooo. People don confuse. Bittcoinn is listed on all exchanges, p2p, spot, futures and so much more. Why is it not constantly tanking like the Naira?

A currency is not just a paper or a symbol. It is a representation of an economy. If the economy behind it is in great shape and doing well. It currency will also do well. What can you say about the situation in Nigeria? Is it a place where foreigners will comfortably want to start a business? Why is that her citizens are all running away? Looking for ways to get out.

Answer this question and you will know we don’t have a nation and we should not even be having a currency.

iykepromotions:
Some of my effective email templates and follow ups;
 


Ikenna.

Thanks to you, we are all fortunate to be here and earning in Dollar right now especially at this moment of Naira Crisis. I tell you, your true reward is in heaven.

MikeMicheal:
Messhit is overrated.
Without legs he cannot play football, but ronaldo can play football with just heading.

Lol…wetin dem Dey use play soccer?

VeeVeeMyLuv:
my dear,
They are on a mission to turn Nigeria into a gigantic hub of prostitution, terrorism and other kinds of criminality known to man.

Splendid!! You have just ruined any reason I have left to visit there.