₦airaland Forum

doyin01:
Your country imports almost everything and export less than 10%...what do you think will automatically happen to your currency when demands are higher than supply?? This is simple economics na....they did not teach you economics in secondary school at least ?? I feel irritated that some of you are blaming binance P2P for the decline of your currency instead of you tackle the real problem....do you think the usdt/naira chart just form by itself ?? Or binance just bring up the chart from their head ?? Don't you know that the major P2P traders make use of that same chart ??

Oga supply and demand is different from price fixing and or manipulation

Tsfari:
Is it the people that don’t have 500k that are making those 10 million naira orders on Binance?


Kindly check out that gap between 1188 and 1182, this is what happens everyday in both buy/sell sections… on Tuesday, I saw it live from from 1060 straight to 1090. This is organized manipulation, I’m steady on this p2p section and I know what I’m saying. Most buying and selling are carried out by the same people

New rates have been fixed … the media is still quoting rate as 1153… now the play catch-up. The black market too.

These things are there but some of you would to argue

narite:
Don’t you just get it? The people are broke, 90% of Nigerians no get up to 500,000 Naira for account. They can’t broke the currency. People trading p2p do not even have the firepower to raise the price of BNB not to talk of the Naira.

Prior to this whole p2p thing, the central banks ban the banks, financial institutions from the transactiing of cryypt00 because the Naira was failing, still it does not stop. What is happening to the Naira is on a Global scale beyond internal, it supply and demand forces at work. This current stage we are in has been setup a long time ago majorly due to bad political leadership and funnily it yet to change.

No one want to hold the Naira, no demand for it. You are not producing anything!!! Your citizens are selling their houses, businesses just to push for visa to travel overseas to earn other currencies.

You can be deluded as much as you want but p2p is not even anywhere close to cause of the downward spiral of any currency. Currencies are meant to be traded, if your economy is poor money will leave the economy and move to where things are bubbling. Money goes where it needs to go. And I tell you, we have not even see the suffering yet, at all!!!!!!!!

Is it the people that don’t have 500k that are making those 10 million naira orders on Binance?


Kindly check out that gap between 1188 and 1182, this is what happens everyday in both buy/sell sections… on Tuesday, I saw it live from from 1060 straight to 1090. This is organized manipulation, I’m steady on this p2p section and I know what I’m saying. Most buying and selling are carried out by the same people

Let me even drop this without having any intentions to shalaye: if you made any hodling the usdt against the naira, the best way to maximize it is to use it now. Yes, buy foods, clothes, land and whatever you need and according to the profits made because in few time, prices will adjust accordingly and you will discover those profits have little or no significance

seankafor:
would we be here if the country's situation is not already fúcked up?

You can keep blaming p2p or common man all you want, it won't change the fact that the naira is already on a bull 🐂 run..
. Nigeria as a country doesn't produce nor export anything apart from crude oil which is fast loosing relevance..

So in what way forex flows into the economy?

If a common man who has already been disinfranchised sees p2p as his only edge, power and advantage to salvage the economy.. then it's a welcome development..

Everyone knows the country is ffff but if we are really trying to trace the root of this recent decline then we wouldn’t rule out any options. Oseni of arise news would always say “ text book economics is different from real life realities and the current events have proven that( the government have tried increasing interest rates, floating the naira and all other things we see in economic textbooks and the solutions ain’t arrived at yet); so if I was asked to point out factors contributing to plummeting of our currency, I wouldn’t rule out the Binance p2p.

And it’s really funny their aim for doing this … the think they are getting more monies but in actual sense, everyone is getting poorer. In the short term, you can have more monies to manage your micro needs … pay transport, eat food etc but on the long run you cannot be to do major things with money. The extra 100k you made on a 1k dollars wouldn’t be able to make up when prices of flights begin to adjust. You used 1 million to buy 1k dollars, but if air lines adjust their prices following dollar rate, the extra 100k you have on top may not cover it. The same applies to every other thing. Ask business men today how they are faring and you would understand: you may sell your goods today at 2500 and when you go back to buy same goods and quantity, you will discover it’s now be sold at 3000… that means you didn’t make profit from the previous sales and your capital is depleting. Go and check prices of iPhones today, most are adding 50k to 100k … is it this your extra 100k that you are going to use to make up?


We are all getting poor unless you are earning more dollars not merely defending your meager 1k dolllars or 2k or even 10k

Enyinne:
Rate of exchange doesnt come out till 9am but as at 8pm yesterday nite , binance p2p price was already at 1170 per dollar . Who is setting up this outrageous prices if not ordinary sellers . Immediately others wakes up , next is to join the hiking of price and next aboki will follow. U cant tell nothing. If u like dont reason and discuss like adult ,but chose to talk in a disrespectful manner, i wont dignify u with a mention

100% truth dear

Try and stay on your binance app today and observe the kind of orders been set, most traders with money are playing manipulative games. They create buys/ and adjust sell rates . Most of those merchants have bags, don’t play

seankafor:
agbado economists

So binance p2p is now bigger than the Nigeria forex exchange economy

Speculative or not, agbado economist or not, we can’t deny the fact there is a great deal of manipulation and price fixing on binance P2P which has effects on the naira rate in the parallel market. I have observed in the past and confirmed it recently that rates on binance follow the blackmaeket rates on and vice versa. Many Times, rates in the black market have played catch-up after binance rates went up; a perfect example is as demonstrated in the last two days .., naira first hit 1100 on binance when black marketers were still selling 1050/1060 and yesterday when it entered 1150ish, media outlets were quoting 1100 until they adjusted to the updated increased ones in the evening.

You all can make it look like these assertions are false all you like but it’s remains the truth. There is such a thing as internet influence in our current world; people were trending #1199 naira on Twitter on Wednesday and knew it was gonna drive prices up because most people would see that trend and jump on dollar anywhere they see it lesser.

Unhook or unleash

Hello everyone, i usually don’t do this but I’m been forced by emotions. I really want people to know what I’m going through: since February, I have not laid my eyes on any bare big breasts and lately I’m feeling concerned. I have a friend with benefit who gives me sex every fourth night or forthnightly but she her breast isn’t so sizable and I have been desiring more. I act like I’m cool and all around people who know me, but deep down, like really deep down, I want to see big breast. I want a girl to unhook her bra and boobs would pop out.


And I feel if I don’t get a solution soon, I might patronize a call girl. Help me! Help me!