₦airaland Forum

mrfreestuff:
No amount of attempts to confuse us will work sir.
You don't have the information as much as CBN and BuyCoin which quoted that last year, $200m bought with naira was being shipped out to foreign countries every month .That is N1.2T being tied down idly !!
Yet this number keeps growing because of insatiable greed while the rest of us keep paying the social cost.
If Ghana and others want to destroy their economy by hosting people who will be shipping their hard earned USD overseas, they can go ahead and host such economic sabotage.

These countries can't even provide the kind of huge demand of monthly USD demand and if they do, they will seize and trap those funds with one policy and datsall. By that time, please don't come and beg FG to intervene and prevail on those countries to allow you take out your funds for repatriation to Nigeria.

Can you show me your portfolio of what you have contributed to the Nigerian economy. And who is **us**.

You mean other countries are sabotaging their economy by allowing cryptos. I hope you see the light.

Crypto is here to stay. Kindly stop mentioning me with your ineptitude

Esseite:
I assume Nigeria gave you that initial capital, you have tried the shares, it didnt appreciate, you tried the banks, the 3% was too small.. have you tried society, real estate other avenues rather that taking away that forex which I assume you raised from Nigeria..

There is always the P2P option until the scams of crediting and not crediting takes over.

Nigeria has given me NOTHING! Instead it's only taken from me. I lost my first ever multi million investment in 2012 due to flooding because the government refused to fix drainages

Real estate in Nigeria is a sham! I laugh at those who still put their hopes on it. Personally my friends and I make real estate investments in stable markets outside Nigeria. There are exceptions though but there are better markets out there. Let me give you a simple example.

Say you bought a house in 2013/14 at ₦20M, with the dollar rate of ₦220/$ then, that house cost you about $90k and some small addition. Today at ₦480/$ that house has depreciated by over half compared to the dollar value you bought it for. In all honesty, do you see yourself selling a house you bought for ₦20M in 2014 at even same $90k dollars currently worth ₦43M? In essence,You lost money!

You see the whole inflation thing and why you need a dollar hedge for your funds? You now see why crypto became popular? Nigeria is the worse place to do business ever! Why? The instability of every indices of governance and business is what makes Nigeria dangerous to do business!

Apart from the stupidity of governance, one power drunk "dishonorable" you maybe had issues with could just influence town planning, tip them some paltry hundreds of thousands and in 30 minutes all your investment is reduced to rubble!


Then for P2P scams, there'd always be scam in the world. No one will change that. Being careful is key

PrinceOfLagos:
Nigerians deserve a man like buhari .

We warned them in 2015 but they callled us names

Let them enjoy the buhari bad effects

If only they will have sense in 2023 election.

PrinceOfLagos:
Nigerians deserve a man like buhari .

We warned them in 2015 but they callled us names

Let them enjoy the buhari bad effects

If only they will have sense in 2023 election.

Generous man! You are even being generous with the #100,950 networth. It is a different ball game when you factor in inflation. That #100k may be able to buy you 7 bags of rice when you deposited it, but now the whole #100,950 (deposit plus interest) can't buy you 4 bags of rice.

I stopped believing in investing in Nigeria when in late 2015, Buhari placed a $100 spend limitation on dollar accounts. I used to make around $3500+ per month back then and would transfer everything to my domicilliary account thinking it would be more safe in my home country, but when I was short of fund in my foreign account and only needed $1420 to fulfill some order, I realized that I can't take from my dom account because of the limitation. I had to wait till month end so I could take from money earned into my foreign account. Since then I only domicile the little I need for personal upkeep.


Funnily, people were being given exemption to get fund just to go on pilgrimage.


I can't even keep money in my naira account again because its value gets deroded everyday. These people want to blame cyptocurrency but won't acknowledge the fact that stealing from the country and stashing it it foreign country erodes the naira's value.

Proflere:
I saved 100k in my bank since January last year and now the money is worth 100,950 just 950 naira interest, imagine if I had invested in ethereum by now I will have nothing less down 700k.

Atiku speaking as if he's holy. What did his administration do when he was there? Them be same!! Those who live in glass house should not throw stones

PrinceOfLagos:
Nigerians deserve a man like buhari .

We warned them in 2015 but they callled us names

Let them enjoy the buhari bad effects

my brother let them enjoy it ooooo.l was shouting, fighting And trying to convince people on this platform that year. What did l get, abuse from all this zombie shouting sai baba on this platform.
They never suffer. Buhari should suffer them more because they're goat

Esseite:
All your transactions in hundred of thousands of dollars, how has your country benefitted from it since it's being run in cryptos and domiciled in source nation?

What has he benefitted from his country? That should be the more pertinent question.

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

The truth of the matter is majority do not know.... blind followers.

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

Ban or no ban cripto trading will still continue.
Whether I kept my #10m in $$$ outside d country or I hide it in a hole at my backyard for a year it it not d same thing?

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

oga shut up there. The intention of investors is to create more wealth. Lately Nigeria stock exchange has witness distressed due to government bad fiscal policies which make investors to sell off their stock even at lower invested amount. I cannot invest in a stock that continue depreciate, l will rather invest in bitcom to safeguard my future. Talking about employment. Government has major priority to introduce policies to encourage foreign investor but this present government lack that idea because from buhari to the last person on this government they're dumb. Bank loan to finance my business na death trap for entrepreneur in Nigeria because this government keep on lieing that bank will borrow entrepreneur a lower rate of interest but when you visit the bank na different story you will experince. My brother forget about this government they're FAILURE who has nothing to do in government house.

Anything Nigerian youths are into the federal government finds a way to block it look at MM very soon they will block bet9ja

mrfreestuff:
No amount of attempts to confuse us will work sir.
You don't have the information as much as CBN and BuyCoin which quoted that last year, $200m bought with naira was being shipped out to foreign countries every month .That is N1.2T being tied down idly !!
Yet this number keeps growing because of insatiable greed while the rest of us keep paying the social cost.
If Ghana and others want to destroy their economy by hosting people who will be shipping their hard earned USD overseas, they can go ahead and host such economic sabotage.

These countries can't even provide the kind of huge demand of monthly USD demand and if they do, they will seize and trap those funds with one policy and datsall. By that time, please don't come and beg FG to intervene and prevail on those countries to allow you take out your funds for repatriation to Nigeria.

Provide evidence please, is the outflow related to crypto?

How is this possible when all deposits, transfers and withdrawals are done in naira using native banks.

https://www.youtube.com/watch?v=ygpUy0BZnqI

Nigeria Central Bank Bans Crypto Exchanges. Is This Move Permanent?

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

With all the mentions and insults, if we put this same energy into investing in Nigeria, would we be complaining of unemployment?... someone actually said he has over 1,000btc in his wallet, that's about $35m or N16.450bn just waiting to flip currency and make margin rather than real investment that creates jobs.

Your sense financially do not make sense. So you'd rather advice the govt to shut down means of people's livelihood than sit up and work on the economy to be export dependent?

Zaggafrank:
What are you even talking about? Which criptocurrencies are the alternative to the dollar? What do you use to buy the criptocurrencies? Is it not the same scarce dollars? As far as I care, this is very good for the Naira for now. The dollars people buy to use in buying Bitcoin, can be used buy investors producing and importing things that improves the real economy

Most exchanges has NGN/cripto pairs U can trade direct.they hav a naira wallet U dnt need dollars,more if U earn dollars from outside are U not going to exchange for naira to transact in Nigeria?

PataAlhajaKeji:
A lot of dumb Nigerians out there, including the serial loser who refused to cum, Atiku.

The CBN is an independent organization. It is independent of the executive arm of government, so are its monetary policies.

What exactly is Buhari's business?

Instead of you lots to cast your ill-though aspersions on Emiefele, na Buhari una dey reason.

Buhari kill of una dia!

Dnt be a fuuuul!bulharri control d judiciary,CBN,army, police & even d NASS now.

Fbinvestigator:
Can you show me your portfolio of what you have contributed to the Nigerian economy. And who is **us**.

You mean other countries are sabotaging their economy by allowing cryptos. I hope you see the light.

Crypto is here to stay. Kindly stop mentioning me with your ineptitude

If you are uncouth in your remark, it does not change the economic fact staring us in the face.
You can go ahead and pack the currency of other countries to load USD and ship it overseas and let's see if they will sit back and watch idly.

Countries warehousing all these cash using loud merchants online to lure others are the true gainers and I hope Ghana and Benin are taking lessons from the horrible experience of Nigeria,fellow import dependent nation like theirs.

They must insist that anyone who wants to trade crypto must use the overseas inflows to trade it not mop tonnes of cedis and CFAs and to mop scarce USD and then export it to overseas.
They will kill their economy las las like they almost did here in Nigeria.

AdeniyiA:
Your sense financially do not make sense. So you'd rather advice the govt to shut down means of people's livelihood than sit up and work on the economy to be export dependent?

Is it not the same people stagnating finance in cryptos that would create the exports needed to make Nigeria export dependent?

Atiku doesn't care..this text was written by a speech writer and he just read it out

PrinceOfLagos:
Nigerians deserve a man like buhari .

We warned them in 2015 but they callled us names

Let them enjoy the buhari bad effects

He will touch everyone of them one by one. In the end, we shall who are the real wailers.

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

Modified:
With all the mentions and insults, if we put this same energy into investing in Nigeria, would we be complaining of unemployment?... someone actually said he has over 1,000btc in his wallet, that's about $35m or N16.450bn just waiting to flip currency and make small margin rather than real investment that creates jobs for the economy, but we are quick to say no jobs.

you're very dumb. crypto does not damage our economy rather too much imports do. since Nigeria cannot export anything other than oil, they now tax people sending dollars home, which has become a major forex source. now crypto is challenging that dishonest taxing, instead of the government to divest, they're clamping down on it. don't worry, a time would reach where crypto will dominate world finance. shutting it down will then lead to sanctions by IMF, world bank as well as wells Fargo and other financial institutions that bankroll Nigeria on oil sale.

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

Modified:
With all the mentions and insults, if we put this same energy into investing in Nigeria, would we be complaining of unemployment?... someone actually said he has over 1,000btc in his wallet, that's about $35m or N16.450bn just waiting to flip currency and make small margin rather than real investment that creates jobs for the economy, but we are quick to say no jobs.

You're a fat bastard. Has your useless government created any jobs

mrfreestuff:
Crypto and its whatever were not banned sir.

Seems you need your own advice because talk is cheap if you are struggling to comprehend a one-page memo issued by the CBN.

The social cost is huge to a country like Nigeria and its already setting us back even faster than corruption did so I support anything good for my fatherland.

Did you even read the memo, or you are just having difficulty comprehending the content?

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

Modified:
With all the mentions and insults, if we put this same energy into investing in Nigeria, would we be complaining of unemployment?... someone actually said he has over 1,000btc in his wallet, that's about $35m or N16.450bn just waiting to flip currency and make small margin rather than real investment that creates jobs for the economy, but we are quick to say no jobs.

Nobody wants to invest in an unsecured environment Mr. defender, and we all can now predict the future of your so called Country, that's why some one can hold a huge amount of btc then expecting to make gains in the future

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

Modified:
With all the mentions and insults, if we put this same energy into investing in Nigeria, would we be complaining of unemployment?... someone actually said he has over 1,000btc in his wallet, that's about $35m or N16.450bn just waiting to flip currency and make small margin rather than real investment that creates jobs for the economy, but we are quick to say no jobs.

U are a fool for trying to tell us how to invest our resources
I know hired people like you with linear thinking/one-way zone b
Couple with heavy tax, epileptic power, diesel expenses, generator maintenance, unpredictable government and bad/unstable policies.... Yet u said safe crypto investors are lazy. U b fool.
Slave mentality

mrfreestuff:
I think you missed his brilliant analysis sir. You guys are loading naira to buy USD which is now shipped outside Nigeria for hoarding and possibly to build their own economy at your own risk. You are their MAGA o!
Remember, you will still change the Bitcoin back to naira to spend in an economy you robbed of the returns on the value stored in it.

Just 1 year run of it, naira has been devalued twice and you still don't get it that mopping and exporting $200 million monthly when you earn less USD inflow is suicidal and can never be sustained?
It is the greed that eventually exposed how the business is practically killing the rest of us not in it.

are we buying USD or Bitcoin? what of the CBN robbery that happens when you send money to Nigeria?

eledumare2012:
U are a fool for trying to tell us how to invest our resources
I know hired people like you with linear thinking/one-way zone b
Couple with heavy tax, epileptic power, diesel expenses, generator maintenance, unpredictable government and bad/unstable policies.... Yet u said safe crypto investors are lazy. U b fool.
Slave mentality

But you live in same Nigeria you have refused to grow.. it's just common sense.

blackmaine:
Nobody wants to invest in an unsecured environment Mr. defender, and we all can now predict the future of your so called Country, that's why some one can hold a huge amount of btc then expecting to make gains in the future

And when you eventually make the gains, what next?... buy homes you want same Nigerian renters to purchase or cars you want to drive on real investors tax fund tarred roads?

Esseite:
Atiku is just chasing clout... CBN took the best decision.

Unregulated Crypto currency is a lazy investment that tilts more on outflow of FX rather than inflow.. it is death sentence to import dominated countries.

E.g- I buy bitcoin with N10m that would be domiciled in source Nation(not Nigeria).. if it rises in 1 year by maybe 10%, I may have gained 1m as an individual, but I have starved my country economy of recycling my 10m if it was domiciled in a Nigerian bank or invested into the society which could have produced more than 10% while creating jobs.. note as an import dominated nation, the chance of loosing that 1m as another escaped forex is 95% on foreign goods while 5% I may spend on local food.

The Nigerian greed for small margins has blinded a lot of people, imagine Crypto currency trading far beyond your indigenous Stock exchange and some feel it's okay

Modified:
With all the mentions and insults, if we put this same energy into investing in Nigeria, would we be complaining of unemployment?... someone actually said he has over 1,000btc in his wallet, that's about $35m or N16.450bn just waiting to flip currency and make small margin rather than real investment that creates jobs for the economy, but we are quick to say no jobs.

You are talking rubbish. Buhari goes abroad for medical checkup. He starved Nigeria of the funds while enriching other countries. His Son had accident, went abroad for treatment. His wife and family all go abroad for study and holiday.


Same with all those in govt. Even brutai spent billions on property outside Nigeria.

Why Abacha was moving our money abroad, buhari hailed him. Show me a minister or governor that does not own property abroad.

Even the CBN according to Sanusi was selling fx to cabal at a backdated price only for them to resell and make billions.

They the leaders dont believe in the country. So why should the youth invest in a country that has no direction?

Jackmj:
You're a fat bastard. Has your useless government created any jobs

It's the private sector that creates majority of jobs, but nooo... you have decided to stagnate that fund in cryptos and other non-service industries.