₦airaland Forum

Crypto is a game of the nerds. if you don't get it forget it

Nigeria’s foreign reserves stood at $38.483bn by May 31, 2022, declining by five per cent from $40.521bn reported by end of December 2021, according to The Punch’s calculations of reserves movements on the Central Bank of Nigeria’s website. Nigeria’s foreign reserves stood at $38.483bn by May 31, 2022, declining by five per cent from $40.521bn reported by end of December 2021, according to The Punch’s calculations of reserves movements on the Central Bank of Nigeria’s website. By the end of April 2022 when South Africa last reported its reserves, Nigeria’s foreign reserves stood at $39.579 billion, having declined by 2.3 per cent since December 2021.

Foreign reserves are assets held on reserve by central banks in foreign currencies, according to Investopedia. These reserves are used to support the economy and boost foreign exchange market during emergencies or periods of crunch.

“If you do not want your foreign reserves to decline, then do more exports,” said Professor of Economics and former Assistant Director of the Central Bank of Nigeria, Jonathan Aremu.

“Then, a big question arises, for an economy with foreign exchange challenges and declining foreign reserves, where do political party candidates get dollars to spend in an economy that uses naira?”

Aremu explained that Nigeria’s foreign reserves would keep dropping when more dollars were spent to pay for imports while foreign exchange earnings from exports kept dropping.

Data show that Nigeria is an import-dependent and consuming nation. In 2021, the value of Nigeria’s total trade stood at $39.751tn, but total imports stood at &20.843tn while exports were valued at $18.907.79tn. However, over 70 per cent of the exports were made up of crude, which was shipped abroad, refined and re-imported.

Nigeria earned $45.56bn from crude and non- oil within the same period, according to the NBS’ Foreign Trade Statistics. Crude oil made up over 76.22 per cent of this amount, while the non-oil was 23.78 per cent. Non-oil exports were around $10.836bn.

Vietnam earned over $38bn from garments in 2021 and $57.54bn from export of phones and accessories in 2021, according to the Vietnam Department of Customs. Bangladesh, once regarded as one of the poorest in the world, earned $35.81bn from export of fabrics and garments only.

South Africa’s manufacturing sector contributed 11.74 per cent to its GDP in 2020, according to the World Bank, but Nigeria’s hovered between eight and nine per cent that year, according to the NBS’ data.

In 2020, SA’s exports were around $102bn, making it 36th exporter in the world. Though it is also a commodity-driven economy, it is also big in finished products.

“Foreign reserves growth is just about producing more. We are not exporting enough. When we produce, we export. That is the only way to grow reserves,” Managing Director/ Chief Business Officer, Optimus by Afrinvest, Ayodeji Ebo, told The Punch.

He explained that Nigeria either had to reduce its spending on imports or begin to make stronger efforts to earn foreign exchange to support its economy.

I tried all night clicking on validate VBN. I got no code sent to my line and my line is what i used to register vbn. By the way. My NYSC certificate is 2013. Can it work for it? has Anyone got approved below 2015. Even though my nysc got validate and show my certificate number. The problem is the VBN.

learning how to trade professionally and the shit is fucking hard because it take years to be perfect with it.

You need to change your environment cos it due to area you're living and especially the kind of place to go to hang out.

Money is not everything but money is every.

Street is life. What you choose to do on life street is your choice. Be a thugs banker cultist yahoo olosho pastor etc. Street will accommodate. So street is life.

It just like you're speaking my mind. I do exactly what you're described. No hard feelings

I don't understand which day una go learn in the country. I don't get. MMM made a lot of people to realized that Nigerian are financial illirate. It reason this bamise and any other murderfucker will continue to prey on people in this part of the world. We'll never stop hearing such until the Government rise to the occasion because people will always be a prey.

If the foundation is faulty what can righteous do? RK shoot himself with Aliyah relationship and that's why the public opinion about him is unredeemedable. He's wife also sold him out but I think RK mission on earth has long been accomplished. They can mute him in prison but he's song can't be muted. Stay strong RK king.

My hommie. Weskaya.

This life no balance.

I don't usually like to argue about crypto with people anymore. Because it is a secret that is open to everyone. So I should have ingore this comments and let you pour out ur igroance to people here for them to like it.

But you mentioned things that interest me.
Blockchain : the node which make blockchain unhackable because there no server that control the system.

So if blockchain that control bitcoin is hackable Micheal salor that has used over $2B investors money to buy bitcoin for his company will not try such. And you who can't even buy bitcoin with $100 is having opinion of it. Are you telling me that you're more wiser than a man who can use over $2B to buy bitcoin. Elon did same things with Tesla balance sheet. And only complain about bitcoin energy consumption. It true about Bitcoin because it first but other Crypto solved that problem like the Doge Elon is promoting. Ethereum offer smart contract for those who can't afford Thier own blockchain. Defi are coming up etc.

Look Africa will remain poor and we'll continue to celebrate mediocre. Blockchain is not created here and even you mentioned things that make it outstanding and you still ignorant to it.

You're comparing Bitcoin to MMM show how backward your thinking is.

Like I said crypto is secret that is open to anyone. That is your own research and please publish to people where you seen blockchain can be hacked. The moment blockchain get hacked - it end of it the technology called blockchain.










Cryptocurrency is another form of MMM. It's value is strongly tied to what people are willing to pay for it unlike paper currency that's tied to import and exports (trade).

Although the bitcoin uses a strong algorithm, it is prone to hacks and we've heard of several cases of hacks and theft despite using the blockchain system (Hashes, Nodes, Decentralization etc.).

I genuinely pity countries that would heavily invest in an invisible intangible currency, when it crashes, that is the end of the road for them.

Bitcoin, Dogecoin, Zugacoin, Fulanicoin etc. don't have any value, if the world decides today that a Bitcoin would sell for $1, that's what it would be, although same can't be said about the US Dollar, the Euro etc cos these currencies are backed up with valuable tangible assets.[/quote]

All these banning up and down. First off Cryptocurrency are not supposed to work with financial institutions. It what was it was created against. So the ban are always going to be happening because those who create application to make it central are still not getting the scope. Bitcoin was designed for P2P and DEX application should be what everyone should be using to exchange crypto assests. We'll get there some day.

China has successfully landed a spacecraft on Mars, state media announced early on Saturday.

The six-wheeled Zhurong robot was targeting Utopia Planitia, a vast terrain in the planet's northern hemisphere.

The vehicle used a combination of a protective capsule, a parachute and a rocket platform to make the descent.

The successful touchdown is a remarkable achievement, given the difficult nature of the task.



Only the Americans have really mastered landing on Mars until now. All other countries that have tried have either crashed or lost contact soon after reaching the surface.

Chinese President Xi Jinping congratulated the mission team on its "outstanding achievement" in a special message.

"You were brave enough for the challenge, pursued excellence and placed our country in the advanced ranks of planetary exploration," he said.

Thomas Zurbuchen, the head of science at the US space agency (Nasa), was quick also to add his own congratulations.

"Together with the global science community, I look forward to the important contributions this mission will make to humanity's understanding of the Red Planet," he said.

The Russian space agency, Roscosmos, said the success augured well for its future cooperation with China.

China succeeds in putting a probe in Mars orbitUAE space mission returns first image of MarsRemarkable photo of Mars rover during landing



image captionThe mission team received a congratulatory message from the president

The robot officially landed shortly after 07:00 on Saturday, Beijing time (Friday 23:00 GMT), according to state media.

It took 17 minutes to unfold its solar panels and send a signal back to Earth.

Zhurong, which means God of Fire, was carried to Mars on the Tianwen-1 orbiter, which arrived above the planet in February.

The probe then spent time surveying Utopia, taking high-resolution images to pinpoint the safest place to put the rover down.

The aim with all such ventures is to pick a spot that is devoid of imposing craters and where the landscape isn't covered in large boulders.

Chinese engineers would have had to follow the landing effort with a time lag.

The current distance to Mars is 320 million km, which means radio messages take almost 18 minutes to reach Earth.

Every stage of the Zhurong robot's approach to the surface therefore would have been conducted autonomously.

image captionEngineers follow events at Mars with a time lag of many minutes

The landing architecture was a familiar one.

The rover was encased in an aeroshell for the initial phase of the nine-minute descent. This capsule's dive to the surface was slowed by pushing up against the Martian air.

The heat this generated was managed by a forward-facing shield.

At a predetermined time, a parachute opened to reduce the velocity still further.

Finally, the Zhurong robot broke away on a rocket-powered bench for the manoeuvres that took it safely to the ground.

Landing on Mars is always a daunting challenge but China would have had confidence going into the procedure, given the great competence it has shown in its space endeavours of late.

This is a nation that has been putting rovers on the Moon, and bringing lunar samples back to Earth. This month it launched the first segment of a space station above our planet.


Now that Zhurong has got down successfully, scientists will try to get at least 90 Martian days of service out of it, studying the local geology. A day, or Sol, on Mars lasts 24 hours and 39 minutes.

The robot looks a lot like Nasa's Spirit and Opportunity vehicles from the 2000s. It weighs some 240kg and is powered by fold-out solar panels.

If you don't believe the Bible. This is story from enclopedia. You can't fight God almighty people.

Gen 2vs16
God put Adam to work in the Garden and to Keep it. Next Chapter Say's. Adam can eat of every trees. But Adam must have to work before eating and God already provided everything except that Adam must not eat of only just one tree in the Garden which is tree of knowledge to know good and evil.
So out of billions of tree God created-provided for Adam. It only one that put Adam to trouble.

If I may understand this very well. God gave Adam just one free-will to make a choice in being knowledge to provide food for himself but the implications of him doing that he will be affected with (The Good and The Evil) cos
when he eat he's happy but that (good) may come from results from stress and the emotions that come from (evil) did to create foods for himself.

Lot of people today had to do evil did to eat and live life. Adam didn't know the consequence until God say the cursed that come from the disobedience in Gen 3 Vs 16 to 19. The last sentence in vs 19. For you're a dust and to dust you shall return.

How long will God allow the children of Adam to continue to do good and evil on the face of the earth. Think!! God gave Adam to keep Eden gardens but the disobedience made him to lost he's life outside of the garden from (evil and good) that affect him.

God own the world and one day he will decided to End it all. We are all dust breathing God spirit in he's image and after he's likeness. He didn't share the glory of knowing it all with Adam. He still made him clueless to just one thing. Jesus too was clueless to when  God will decide to end it all. He always use proverbs to answer in those days.

Conclusion. Adam gave us death. Jesus gave us life.

Admission is Open at Valencia Academy Ibadan.

Enrol your child before it closes.

They will doubt her unless she decided to be like Erica and Bleep behind camera on national TV. Life no balance.

Like I said earlier. I don't disagree if you think or say Jesus is God. I am making a reference to God words which Jesus himself spoke to us.

God words become flesh. I sense some misinterpreted or misunderstand that statement from John. Jesus is God words and I don't disagree if you say or think Jesus is God. But I am making a reference to Jesus words = God words in the sense that Jesus is Lord to advocate for our sins.

Jesus is Lord not God. Judge is called lord because they interpret rights according to the laws. A King may still be superior to Judge. Imagine God is King  - Jesus is Lord and Satan is prosecutor.

Christian use God words as rights because they understand God elevate the words more than the name. So in God court- aka in God kingdom. I will let Jesus be my truth advocate through my believe that God words becomes flesh because according to John - Application for Grace is only available through Lord Jesus. (Paul also confirm it Roman 3vs24). Jesus grace over rule the wages of death for sins because that is law Satan will quote for our sins cause Satan know everyone fall short and guilty to sins (Roman 3 Vs 23)

I know I am a sinner but I also know the truth (1 John 1 vs 8. ) My application reference the believed to everything Jesus said in John chapter 8. (Unless you believe I am he) Jesus statement in John 8 VS 24. Why did Jesus wanted the Pharisees to believe he's sent from God. Jesus quest was to conquered death and Satan and if you don't believe Jesus. Whom will you address your application to. I guess Moses Elijah John Abraham Muhammad etc. Death defeated everyone one of them. Only the Lord Jesus won the right over death and satan. I believe the Lord Jesus the words of God. Do you?

A filing with U.S. regulators confirms that Tesla is on board for Bitcoin payments in future.

"In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity. As part of the policy, which was duly approved by the Audit Committee of our Board of Directors, we may invest a portion of such cash in certain alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds and other assets as specified in the future," it states.

"Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt."

Everybody saying CBN ban crypto-bitcoin. It hell wrong oo. CBN ban banks from doing business with various start up company in Nigeria that provide payment services to Crypto-Bitcoin trading and exchange.

Example. If you have bitcoin and you use Patricia app to sell it. Patricia can't auto pay to your local bank account again because CBN ask banks to discontinue this service. CBN no ban crypto-bitcoin trading oo. Bitcoin trading was originally designed for P2P pairs-to-pairs exchange and transaction are verified on blockchain descenralised database that removed cenralised which are CBN and Luno Patricia app etc. Bitcoin trading never end and it can't be stop via (DEX) descenralised exchange and P2P service.

App like remitano provide P2P with escrows and that is what we trader have been using for years until Nigeria start-up company start to emerge to build app around crypto trading. So what CBN did no affect anything in crypto-bitcoin trading. CBN only denied the common man on the street with no crypto knowledge an access to hold digital assets. Shikena.
Follow @dolakell on twitter For more bitcoin infogram

Everybody saying CBN ban crypto-bitcoin. It hell wrong oo. CBN ban banks from doing business with various start up company in Nigeria that provide payment services to Crypto-Bitcoin trading and exchange.

Example. If you have bitcoin and you use Patricia app to sell it. Patricia can't auto pay to your local bank account again because CBN ask banks to discontinue this service. CBN no ban crypto-bitcoin trading oo. Bitcoin trading was originally designed for P2P pairs-to-pairs exchange and transaction are verified on blockchain descenralised database that removed cenralised which are CBN and Luno Patricia app etc. Bitcoin trading never end and it can't be stop via (DEX) descenralised exchange and P2P service.

App like remitano provide P2P with escrows and that is what we trader have been using for years until Nigeria start-up company start to emerge to build app around crypto trading. So what CBN did no affect anything in crypto-bitcoin trading. CBN only denied the common man on the street with no crypto knowledge an access to hold digital assets. Shikena.
Follow @dolakell on twitter For more bitcoin infogram

This CBN news-move make sense. It make Naira rise against dollars. Me that been waiting since to buy @450. More bad news  abeg cos Naira against Dollar is best below 400.

CBN want to shut business account that on Crypto bitcoin exchange in Nigeria. Fair. It only yahoo boys that sell bitcoin to third-party and it reason we have plenty of people in Nigeria turn bitcoin aboki (by app and one-one).

Bitcoin wasn't even design for third party payment. Satoshi made it for P2P - Third party provide escrow for p2p trade. All crypto and bitcoin are supposed to be exchange on DEX. But DEX aren't popular like Centra exchange now and many start up tech companies are working on it and the one that provide solutions maybe new Amazon.

Blockchain-Bitcoin innovation that starts digital industry revolution on internet. No one can shut down bitcoin as long as internet can't be shut down by anyone or govt. They can only block access thru ISP and VPN is the solution. In China people use to used VPN cos govt never allow bitcoin but at last their president supported blockchain. I can't forgot Xi pump day in Crypto market.

Elon and Jack promote Bitcoin with crazy and many individuals and entities in the western world are already working on start up program for apps - defi etc. Later they sell this to Africa and black race will always be a slave. Instead of CBN to provide regulations and Framework for this business account and empower people and company in start up of crypto industry.. CBN is doing otherwise. 
I don japa since cos me and my generation must trade the billions dollars future market.

Instead of the Govt to provide support and regulation framework for individual and entities in bitcoin crypto exchange they are shutting out populace of future digital business opportunity. I can't blame the CBN because bitcoin innovation is just like internet in early 2000. Very soon everyone will have crypto digital assets with or without regulation. Only time will tell.