₦airaland Forum

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:
It's ponzi, the smart ones are taking advantage of the other and cashing out big time.
Nigerian youth don't want to work, they just want to get rich through the thin air.

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:
They are human. Humans would do almost anything for profit.

cjudy:
You Dey try educate that olodo. Wasting your time. They don’t even believe people work remotely. The only work they knows is carry cutlass or shovel to go and work in the site. They’re not smart to look for legit remote work online. I pity them and if you think FG have the power to ban crypto in Nigeria, it’s a Joke. Buhari tried it even ban X former twitter and yet Nigerians is still using it. What they failed to understand is that the world have grown before technologies, AI here and there and many options. If you ban P2P today, trust your citizen, they will device 10000 means to continue trading. You people are old and don’t know what’s happening in the technology market. Your brains are backward.

Thormentor:
You ended up not answering my question,

Do you want people to accrue loss Because you're defending rubbish online?

1. increased in fuel price = increased transportation of goods

2. increased tarrif= increased running of business activities

3. increase import duty increase fx rate for All time high at almost 1400 to dollar


With all these pressure and very sharp increase in fx rate and import duty, transportation, cost of production and running day to day business

you expect people to keep price same abi 🤡🤡🤡


what are we now, a socialist State?


why am i suprised same you guys supporting Buhari are the ones still supporting a clown that removed Subsidy and started paying for it with higher price?

someone who went and float a currency and started defending it again


mtcheww

e no go better for una

Scamburster:
Man, please 🙏 stop engaging that slowpoke of a human to cease feeling important, just allow him to wallow in his ignorance. Those are the kind humans we share the same country with and other nationality will be expecting the sane ones here to be happy.

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 😂

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.

AngelicBeing:
I will send your details to DSS and you will be arrested in the next few days for posting this comment and detained for 100 years in kebbi state

pacesetting:
And forex? What's your explanation for that?

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:
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 .

Obagreatdatoye:
Don't be too gullible...all your remedy will amount to nothing...you will count so much losses.. all your effort would be like water poured in a basket

Babalegba:
Forex is gambling,plain and simple.

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.

kenny714433:
Include that this morning I exchanged 100 USDT on Gate.io for over 140k, that's over #1400 for 1$. Also include that I got the money via Opay even after all their stupid barking...

Tell them also that propaganda doesn't run the economy.

Ijaya123:
Emefailure was defending the the naira with $1.5 billion every month.

That’s why he could peg dollar at that rate. Now that dollar has been floated, it has no fixed rate anymore.

tuzle:
In Nigeria as a youth, if u are not carrying block, mixing cement, hawking gala or working in site etc. They term u a lazy youth.

Babalegba:
The US dollar,naira and other fiat currencies Bitcoin is a digital Gold upon which money assets and wealth are currently being build opon 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.

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 .

rinzaugustine:
Lol these people are chasing rats inside a mosque…no plan , no policy, no direction, no road map on the way foward… just only propaganda aimed at igbos to hoodwink their baby brain followers but thankfully the igbos saw the antics miles ahead and ignored them and now they are looking like idiots in the eyes of Nigerians