₦airaland Forum

TheOldGods:
oga, govt are bastard's get the Bleep out. These guys are thieves, bastard's and have no human sympathy.

clearcrystal:
This is a good news.
All those lazy youth that are hell bent on destroying our economy by trading and speculating the exchange rate on P2P platforms are in deep shit already.
Instead of investing in physical asset they prefer to get rich quicker by trading USDT in the comfort of their bedroom at the detriment of our economy.
I keep telling people the rate we see online is not the true exchange rate.
I'm sure they will switch to Telegram but don't be surprised in 2 weeks time the CBN will equally ban Telegram.

anonymous1759:
You’re shameless, where did I mention people should run losses tell me ? What’s wrong if you adjust your goods accordingly without bloating it to exploit customers abi English Dey hard you or you’re part of the people exploiting people blaming everything on the government.

Your likes will be happy when things go bad so you can use the opportunity to exploit opportunist .

Babalegba:
Bitcoin is the biggest ponzi scheme the world has ever seen. There is no product or service being rendered but huge amount of electricity is consumed to make the Bitcoin.No value whatsoever is added to the human experience

Elliotwaveforec:
You be idiot! You are speculating against the Naira to collapse! You are a destroyer. If you want to speculate in Nigeria, you don't bet against the Naira.

You idiots but USDT for keep and resell or wait for USDTNGN to rise and cash out. In other words, you want Naira to collapse to make profit.

Speculators deposit money and trade assets on crypto exchanges not buying and selling USDTNGN like akara.

In fact, a bill should be formulated to criminalise the activities of P2P merchant which should be death penalty!

An economic saboteur, like you, as a P2P merchant, is worse than a murderer.

Villagesquare:
This one doesn't know anything. Was guys not doing Crypto since all the Years Emefiele was there. Instead of focusing on how to boost the Economy and increase our export to earn foreign exchange they are busy chasing after Crypto traders.

anonymous1759:
You just want to be unfortunate , if you refuse to see where I stated that you can increase your goods accordingly without bloating it for exploitation.

From my experience it’s better to buy everything you need in bulk those retailers are killers , that’s how one seller told a basket of tomatoes cost 45-50k when it’s 10k In the marker two months ago when I got it. he lied to me to justify is exploitation.
Only sore election losers deny exploitation is not going on.

Let’s continue the exploitation game , the good thing is that you can’t be self sufficient In everything if you exploit MR A MR B will do you the favor.

anonymous1759:
Final brutality to speculators, I feel for those genuine ones , but majority of Nigerians ain’t loyal . They sabotage the country and come online to bash the government when their heinous act destroys the economy . EffC should also go after schools receiving $ for fees .

ADecadeAddict:
Forex and crypto are not the same.

You don't trade USDT in Forex.

And you really can't specualete in the NGNUSD market because of spread unlike NGNUSDT market where there's no spread.

dreamxhaser:
You dey mind those haters?

They want everyone to be like them (living from hand to mouth).

Any small thing they will say, go and work. Which stupid work? Is it thier government jobs or the private that will use you like a slave.

Suffer no dey tire una?

Babalegba:
The US dollar,naira and other fiat currencies do have tangible intrinsic items of value behind them. The nigerian government for example could print one billion naira knowing fully well that it has oil ,
other tangible products and services to back up the paper money
When a country does not have the resources to back up the paper money,then there is a problem like we currently have in Zimbabwe.
You then have a scenario where a bar of soap could cost one trillion.
I do support the federal government on this matter as I don't want the Nigerian economy to be destroyed because of a fad.
Money should be based on concrete things like the gold standard.

Betanaija42moro:
Nigeria is a joke

anonymous1759:
Final brutality to speculators, I feel for those genuine ones , but majority of Nigerians ain’t loyal . They sabotage the country and come online to bash the government when their heinous act destroys the economy . EffC should also go after schools receiving $ for fees .

kenny714433:
If they delist naira from crypto exchanges and stop them from trading P2P, then we would move to off ramp services.

There, we would convert our USDT to our local currency. So many off ramp providers out there.

Apart from off ramp, we would use Telegram bot, and normal P2P without exchange intermediary. 100 of options would be provided.

I would even suggest to a decentralized exchange like PancakeSwap or Uniswap to offer P2P services. I wonder who FG would contact when decentralized exchange adopts that.


For more context about decentralized exchange:
There's no KYC so all transactions are done via smart contract. So you won't need to know anybody at all, just signing of the transactions and the contract executes it. Even SEC finds it difficult clamping down on DEX since the team is completely anonymous.

Modified: For those of you quoting to tell me FG will completely ban crypto, it's like Satoshi Nakamoto is a joke to you all 😂

ttime:
One emp strike that wipes away all d servers, one one crafty virus that corrupts all d servers and ur digital assets will vaporize poof

Villagesquare:
This one doesn't know anything. Was guys not doing Crypto since all the Years Emefiele was there. Instead of focusing on how to boost the Economy and increase our export to earn foreign exchange they are busy chasing after Crypto traders.

BannedUser:
Naira, USD and other fiat currencies have infinite supply and will continue to lose value forever and ever. They are actually backed by nothing but trust in the government that issues the fiat currency. Bitcoin is limited in supply unlike fiat. It is secure, decentralized, unhackable and cannot be easily confiscated. A thousand years from now when everyone currently alive (and even countries) are no more, bitcoin will continue to exist.

BTW BTC does not care about what you or I think about it.

Elliotwaveforec:
You be idiot! You are speculating against the Naira to collapse! You are a destroyer. If you want to speculate in Nigeria, you don't bet against the Naira.

You idiots but USDT for keep and resell or wait for USDTNGN to rise and cash out. In other words, you want Naira to collapse to make profit.

Speculators deposit money and trade assets on crypto exchanges not buying and selling USDTNGN like akara.

In fact, a bill should be formulated to criminalise the activities of P2P merchant which should be death penalty!

An economic saboteur, like you, as a P2P merchant, is worse than a murderer.

BannedUser:
You must be kidding if you think you can be lazy and make money in crypto. I've made millions in crypto trading but I had to sweat for two years before I started becoming profitable.

You keep on saying it's ponzi the same way people have been calling bitcoin since it was less than $1 in 2009. But today, Blackrock, the world's largest asset manager, with $10 trillion in assets is now offering bitcoin to its clients.

Dreambeat:
FG grasping at straws

kenny714433:
If they delist naira from crypto exchanges and stop them from trading P2P, then we would move to off ramp services.

There, we would convert our USDT to our local currency. So many off ramp providers out there.

Apart from off ramp, we would use Telegram bot, and normal P2P without exchange intermediary. 100 of options would be provided.

I would even suggest to a decentralized exchange like PancakeSwap or Uniswap to offer P2P services. I wonder who FG would contact when decentralized exchange adopts that.


For more context about decentralized exchange:
There's no KYC so all transactions are done via smart contract. So you won't need to know anybody at all, just signing of the transactions and the contract executes it. Even SEC finds it difficult clamping down on DEX since the team is completely anonymous.

Modified: For those of you quoting to tell me FG will completely ban crypto, it's like Satoshi Nakamoto is a joke to you all 😂

clearcrystal:
This is a good news.
All those lazy youth that are hell bent on destroying our economy by trading and speculating the exchange rate on P2P platforms are in deep shit already.
Instead of investing in physical asset they prefer to get rich quicker by trading USDT in the comfort of their bedroom at the detriment of our economy.
I keep telling people the rate we see online is not the true exchange rate.
I'm sure they will switch to Telegram but don't be surprised in 2 weeks time the CBN will equally ban Telegram.

Babalegba:
The US dollar,naira and other fiat currencies do have tangible intrinsic items of value behind them. The nigerian government for example could print one billion naira knowing fully well that it has oil ,
other tangible products and services to back up the paper money
When a country does not have the resources to back up the paper money,then there is a problem like we currently have in Zimbabwe.
You then have a scenario where a bar of soap could cost one trillion.
I do support the federal government on this matter as I don't want the Nigerian economy to be destroyed because of a fad.
Money should be based on concrete things like the gold standard.

Villagesquare:
A youth that is into Crypto trading is more useful and more economically viable than You propagandist. Only if you know the capital base some of the people you call Lazy youth trade with. You can't fight innovation that have come to stay, even all mighty great nations know very well about this.

LegendHero:
I don’t agree to this.

This approach is detrimental if there is no other available means to do the same thing.

Iziquiel:
Honestly you be fool. The person you quoted is not against price increment, but it should be done accordingly, meaning when there's an increase in Import duty and whatnot the sellers should increase the price of their goods to reflect these changes but shouldn't exploit people using those factors as excuse.

Make una try dey open una mind so una go fit reason like people wey get brains in their head.
Bitterness wan kill una.

stagger:
I do not understand this headline.

Is the govt the owner of the platforms that they now control the listing and delisting?

BannedUser:
Naira, USD and other fiat currencies have infinite supply and will continue to lose value forever and ever. They are actually backed by nothing but trust in the government that issues the fiat currency. Bitcoin is limited in supply unlike fiat. It is secure, decentralized, unhackable and cannot be easily confiscated. A thousand years from now when everyone currently alive (and even countries) are no more, bitcoin will continue to exist.
They won't understand you.
When people don't understand a thing, I wonder why their sense's can't tell them to ask and know what they are seeking entails.
The world has completely gone digital and money now is digital.
Life is becoming more easier.
Just because we have a failed system or I can completely say the government are not happy how a large number of youths are making money and no longer depending on them to survive.
They borrow loan from other countries, and yet we have been the one's paying off their debts after they inflate price of commodities, and Taxes.

I will say it again, Crypto is the Future, just invest and hold for Long

BTW BTC does not care about what you or I think about it.