Leezah:
Once SEC makes it a digital asset you will buy

Sailor1:
I think this issue has been overflogged and it's time to let sleeping dogs lie. The most important thing is for folks to make profits in their respective endeavours.

As regards what I trade, remember I said it here, we may never see bitc0in below 30k again..... That'd likely be the floor of the next bear market (if we get it).

Tobex4realTobex234:


Which mumu SEC? Nigeria get SEC? I'm still awed that people have so much hope in these confused regulatory bodies.

In September 2020, SEC issued a statement recognizing crypto and other digital assets as an alternative investment instrument. Read it here https://sec.gov.ng/statement-on-digital-assets-and-their-classification-and-treatment/

Just 5 months later, CBN says it's banned. And na that kind confused nation una they trust?

Crowdfunding that is an outright scam is yet to be regulated, and you want me to take these people serious on their reason for banning crypto?

Leezah:
They maybe confused but with time they will come around.

Banks hate Crypto
Employer hate Remote jobs
Hotelier hate Airbnb

With time they will come around

EarlyCareer:


Very true. It is not a case of who won an argument or who lost.

Only sharing the info so that more people learn. Not to cause more drama. I have learnt a lot from lurking as a guest for many years here, especially this thread from Ahiboilandgas, Emma and others.

Personally, it would be foolish for anyone for put all his or her funds into a highly volatile space like crypto, but just to help the discuss is why I shared.

ChybuzzDD:


Is there any investment where you put all your funds into??

Just give us another reason you hate #cruptos, bros.

Donbrig:
Our leaders are busy on how to win 2023 elections, CBN is confused on how to handle the surge in cryptocurrencies and fix the economy. Western powers are busy on how to further devalue our lives and currency using IMF.

Apart from China, no country on earth has ever withstood IMF and their manipulations when they are mean to ruin your people and economy in the name of devaluation.

Before 2025, naira should be about 800 per dollar, because our leaders are not ready to do things right.

We are still busy talking about cows and other irrelevant things.

Our stupid politicians should continue to buy houses in Dubai and be sending their kids to school abroad, everything about Nigeria might soon come to an end, because we are some of the most unserious people on earth.

Tobex4realTobex234:
Summary of the paper for those that do not want to read it. CBN banned cryptocurrency because:

1. It's untraceability and anonymousity makes it viable for terror financing and money laundering.
2. Other countries have also banned it e.g China, Canada.
3. It's speculative and can lead to loss of capital.
4. It has no fundamentals as an investment instrument.
5. It has no hope as a payment method, can't replace FIAT.

Sailor1:
Bitc0in comfortably sits at 47k and someone was asking how people make money from crypt0... lol


Funny how same folks will swear by the NSE which is downright the worst performing market I've seen in a long time. Looking at the NSE all share index for the past 10 years, its been a m*ss. Chart it against the dollar and it'd be a highway to the ground. I can confidently say that upto 90% of folks who invested there (traders or not) over the last 10years lost money in real terms. This is not guesswork. You're better off buying gold than trading that thing. At least gold is almost guaranteed to hedge against inflation of the dollar.
That said, I wish they traded futures. I would be in a perpetual short position perhaps with some good leverage too.

The funny thing is that the current rally has obvious bearish technicals which have started playing out. Its the young people investing their sweat into it I pity. Even those who just held the dollar for the last 10years are on a better footing.

Regarding what I trade,
After a full month of proper, healthy consolidation with huge volume, Bitc0in has continued it's rally. I expect bitc0in to get to 55000-60000 USD in the coming weeks,
Eith (the next largest coin) should go from 1700 to 2400-3000 in the coming weeks also
I don't even want to say what irrelevant coins will do in that time.

When these playout, remember to ask me how people in crypt0 make money

afroxyz:


NSE was ranked the best performing stock market last year. I dont invest in NSE. I find the make not efficient enough.

However there are people that have mastered the mkt and have been making money.

Just because you dont know something exists, doesn't mean it does not exist.

This argument about which market or asset is best for investment is not a yes and no question. Provided everybody makes money in his chosen investment vehicle, what's the fuss?

highcurrent:
where is jedisco, we might see betece at 100k.
But let's watch 50-52k level first.

tolajay:
People resent what they don't understand, but change is inevitable.

Few decades back, most of the present mainstream financial/investment instruments were non-existent. Stocks, Bonds, Banks and all, are only an improvement of existing systems.

Now, it's time for the old order to be revamped but many won't like it.

Someone/persons conceived the idea of stocks, banks, bonds and all. Now, we have some advancements on those ideas.

Let's not be too comfortable with the status quo. The future holds more. With open-mindedness and curiousity, we'll enjoy!

Innovate OR DIE of frustration.

kevoh:

I'm not talking bitcoin alone but the whole cryptomarket. Even almighty bitcoin sometimes does not respect the charts. Everyone loses a trade at some point. That's why we have all sorts of stop-loss orders for risk and financial management.

The crypto sphere is massive and you can choose to limit yourself to spot trading bitcoin while some hunt crypto gems, some trade altcoins, and others trade futures or do all. There's no harm as long as we all make some profit.

A lot of people made money from free airdropped 400 UNI (currently trading at $18) just for transacting on uniswap, they probably must have missed that if they only traded bitcoin. And I'm sure, their neighbour who doesn't do crypto will be asking how his neighbour made $7200 (400 x $18) , it just must be fraud. Not knowing that it was received free

EarlyCareer:


Very true.

However, before anyone sticks his/her head in, please do your research. Read, read and read.

As long as low interest rates continue in this present world, innovation remains the key to survive.

- putting money in credible NDIC recognised digital banks like piggyvest and a few others for up to 13% p/a seems a better alternative for now compared to standard savings accounts and/or some mutual funds.

- NSE remains a very smart choice for anyone interested in stocks, however, if you are still interested in hedging against further devaluation of our naira, then sound US stocks or ETFs is the way. Bamboo and Trove are the leading guys for this. Both are SEC recognised. There is also no harm in playing in both NG and US stock markets.

EDIT: for Nigerian stocks, honestly, there are very few sound ones, follow Emma's picks, or join their thread here, for better learning.

- if you have the mind for huge ROI, or huge loss (depending on which coins you buy), then crypto is the future. Currency will be digital. It seems inevitable with the way it is going. Big countries are already looking at it, regulations will further legitimize crypto.

To the open minded, this seems the way to go. But as all have directly or indirectly said, it is YOUR money, only you decide how and where to put it. And you should also be ready to take the consequences with your full chest too.

To the close minded, we all make money at the end.

EDIT: the harsh truth is that close minded people may loose out eventually or not. The future belongs to innovation.

skydiver01:
I will stick my neck out and predict that all cryptocurrencies will be banned by all central banks globally within 5 years. They are all currently preoccupied with financing/managing the economic repercussions/fallout on their respective economies from the current global health crises. The ECB has already fired the first warning shot here https://www.coindesk.com/ecbs-christine-lagarde-says-speculative-bitcoin-needs-regulation

Not long to wait to find out - 5 years in global economic finance is quite short.

Leezah:
Regulations not BAN

Mills55:
please anyone with update about today's treasury bills auction rate? Learnt rate is going up.

skydiver01:
My view is they will all be banned in time which in itself is a form of regulation.

afroxyz:


Heard so too. Probably thats why NSE is seeing red

emmanuelewumi:



It should be over by Monday

ahiboilandgas:
why ? Need more info for investment decision thanks

EarlyCareer:


Very true.

However, before anyone sticks his/her head in, please do your research. Read, read and read.

As long as low interest rates continue in this present world, innovation remains the key to survive.

- putting money in credible NDIC recognised digital banks like piggyvest and a few others for up to 13% p/a seems a better alternative for now compared to standard savings accounts and/or some mutual funds.

- NSE remains a very smart choice for anyone interested in stocks, however, if you are still interested in hedging against further devaluation of our naira, then sound US stocks or ETFs is the way. Bamboo and Trove are the leading guys for this. Both are SEC recognised. There is also no harm in playing in both NG and US stock markets.

EDIT: for Nigerian stocks, honestly, there are very few sound ones, follow Emma's picks, or join their thread here, for better learning.

- if you have the mind for huge ROI, or huge loss (depending on which coins you buy), then crypto is the future. Currency will be digital. It seems inevitable with the way it is going. Big countries are already looking at it, regulations will further legitimize crypto.

To the open minded, this seems the way to go. But as all have directly or indirectly said, it is YOUR money, only you decide how and where to put it. And you should also be ready to take the consequences with your full chest too.

To the close minded, we all make money at the end.

EDIT: the harsh truth is that close minded people may loose out eventually or not. The future belongs to innovation.