₦airaland Forum

USDT is stable and pegged to the dollar...but you are using the Naira to judge it...our currency sef na like crypto...up and down and volatile.

As for the 850, it is now N800 today...so, let's watch...it may go past that to 900 and later still fall to 650/680...so...know when to buy, know when to hold, and know when to pick race and sell as if herdsman dey chase you.

StarGraphicX:
lol so Usdt is stable. I bought at 850. Till today it has not gotten back there.

Let's wait and see the coming weeks. It has

Mine, the big canopy we used for trad and meant for reception collapsed overnight...torn... We had to use another venue...then the key to the bride's room cut into two....she couldn't access it for a while and her wedding dress was there.

All thanks to God that everything was solved and turned out right. Celebrating a month today.

Convert to stable coin (USDT), then wait for it to go down again and buy low...anyway, what do I know. Disclaimer: This is not financial advice.

lalalista:
Market managed to get back to the price I bought it. Should I sell it or wait for it to pump? Because I don't understand this kind of market again o

What do they tend to achieve by pushing all these old and fake news to the front page? To inflate the value of naira by force? Sorry but it is a house of cards that will soon come crashing down.

Dem don use you eat. They know the truth but feign ignorance; they just want to rip people off. You should have fact-checked...the first time I saw the news was last month...I just googled it, check the news tab on Google and saw that only Nigerian blogs carried it. Since then, I have debunked this on Nairaland if you check some of my posts.

I switched to US news, no cable carried it...no Nigerian Newspapers that are authorities in verifiable news carried it. That's when I knew it was fake news. I had to cross-check because the US cannot just do that without causing a global impact...non-palatable ones actually.


When you see news like that, do one of these things:

1) Check the news cable of the country it concerns...in this regard, the United States.
2) The local country you are in, check trusted Newspapers, not blogs.
3)Check reputable international business news.

Magabush1:
And I just changed $250 at over 20k loss because of the stupid fake news. Even all the malllams were saying same thing

abimbola74:
God bless you. It’s even visible to the blind cos of change of currency in Nigeria and US saying dollar of 2021 below won’t be acceptable again by 2023

Fake news

sonofElElyon:
Yes I was actually talking crypto generally... but watch it with these stable coins ... tether ust depegged from $1 and is now 0.03 or so to a dollar ! Usdt occasionally depegs but goes back to a dollar.. has depegged currently.. some have said it's not backed with real dollar asset 1 to 1.
Usdd has now depegged too.. busd is the only one I know that is fully backed with dollar equivalent... maybe also usdc

USDC is backed by 1 to 1 real dollar assets. In fact, one of the firsts. As for USDT they're not that open, while USDC is transparent, but expensive due to the ethereum network. Don't know if they have changed it.

SamOchuko:
Bro I’ll advise you sell now and count your losses, the naira is not going to deep anytime soon, not with this issue of the US govt not accepting bills beyond 2021 outside the States by January, the market will be flooded with dollars as most guys hoarding it will be letting go of theirs, the naira is bouncing back. Dangote opening his refinery will give the naira more strength.

Fake news.

Globad:
Naira has a history of appreciating in December. Not depreciating.

This is because more inflows will come in in form of remittances and people visiting with FX.

Let me now be more coded. A policy that will make hoarders offload dollars is in the works.

Same policy was introduced during Jonathan era if I guess right. What happened next? The worst is to close all domiciliary accounts...forgetting if banks cannot meet up with demand in a speedy fashion of BDC...it will skyrocket...

YorubarLord:
I'd buy xrp with all of it and keep if I were you. It will become a currency countries will use starting from 2023 ending it will go up to over $300 right now its around $0.4. DON'T KEEP YOUR MONEY IN DOLLAR BUY XRP AND KEEP FOR YOUR OWN GOOD

I am a long-term XRP investor. Which countries are planning to adopt XRP?

Corrinthians:
My brother, if you know what's good for you, dump those dollars asap. I was a victim too, but I've cut my losses and moved on.

If what my friend who's a bank manager told me yesterday is anything to go by, brother, it would be a miracle if dollar doesn't hit 380 naira by January.

And what did he say that you can't share here?

koning:
I sold dollar at #640 yesterday. The Mallam was even reluctant to accept it from me.

You will be lucky to see it at 500 naira by December. It's crashing rapidly.
The real shock will come in February if and when The US central bank implement their plan to withdraw dollar notes printed before 2021 out of circulation.

Change your Dollar now.

fake news...not available on any US cable news. Sorry bro, but you have been scammed...and the same has risen to 720 today.

It will shoot back to 800 and possibly 900 close to Christmas...that is your window opportunity. The market does not reward those who fear or instant gratification. I hold some amount of dollars too...though not close to yours as I am a long-term person.

Apart from Christmas, when there will be a rush to change to new naira notes since it is starting from December 15, the forthcoming election is key, and I can bet it it naira my reach N1000 if it is not handled credibly.

The naira will gain for a while due to our pseudo-economics, but you and I know that the IMF and World Bank will have the last laugh. Look at Ghana....for Nigerian case, were still dey disguise. It is like a man being beaten and forming e no dey pain me. With all our loans and all that, forget.

About putting your savings online, let it be 50%, if you have the heart. But next time, put 30% of that money into Piggyvest to yield (https://www.piggyvest.com/?newref=1&ref=761320ff4b0422), 30% in your bank account, and 40% into dollars.

Putting 70% is risky because of exchanges collapsing like greedy Sam Bankman-Fried...FTX saga...so you don't jump into the lagoon...

Now, I recommend this book to you...go and get it and read it before Next year, IF YOU HAVE NOT ALREADY:

- The Psychology of Money [/b]by Morgan Housel
- [b]The Millionaire Next Door[/b]by Thomas J. Stanley

Number one is the most important. About buying stuff...[b]don't buy when it is green and green up & up...buy when it is red and low...those who bought bitcoin at 60k thinking it will hit 100k, are yet to recover....we call it pump and dump. Now, it is 18k or less...maybe something will happen that will make it shoot past 100k in the future...but I can't explain all to you. Get those books.

GREATIGBOMAN:
So due to how Naira misbehaving.

I went and withdrew 70% of my savings from the bank and bought $19,000 worth of USDT at N863 per dollar on binance p2p

Guess what.


I just check and they're currently selling usdt there at 722 naira.



My hard earned money just lost like that


I just deleted the app... If they like let them make it drop to N400


Crypto have really delt with me



Last year it was one merchant token that ripped me off $2000
Then Shiba Inu ripped me $1200


Anytime I do anything crypto related I lose money


Will anyone advice me to sell my USDT now at 722 and accept my loss or wait untill December if Naira will lose value further to say N900 to a dollar


Will dollar be scarce in December?


Honest opinions

Actually, apart from the FTX issues, the dollar is weak at the moment because of the US mid-term elections...which shows uncertainty at the time...there are speculations as to probably what party will win the forthcoming general election...which affects economic policies, trade, etc. The market will react; either Dem has the upper hand or Rep.

DEM is 46 ---- GOP (Rep) is 48...

51 is needed for the majority.

Keep it there. It is temporary. A lot of things will happen in a few months that will make it shoot up again. No matter what, it still has more value. It is just a response to a weak dollar at the moment...and the US mid-term elections. We go soon hear ween.

mrksquare:
And I kept my 1000USD in my dorm thinking naira will get to N1000 before changing it to naira. I am in Sifia pain!!

Lol...I love your optimism but expect 900 by December and close to the election...if the election is disrupted, expect N1200....note this down and remember someone said it first on Nairaland.

Minjim:
Sit down there. You'll be the loser.

It's on a free fall

Still working flawlessly...no issues...although it appears network slowed down around 11 pm.

ok...not my line or interest.

grandstar:
Only the 2nd. It's related to music.

Care to share the business with me?

grandstar:
Oga, calm dowm

Different strokes for different folks.

I was never one to think of fleeing but when you can't even make a $20 payment with your debit card, you know there's a problem. Last year, I could not start an online business that could be getting eating me about $10,000 monthly because our cards were no longer compatible with PayPal..

Recently,i wanted to make a series of payments online for a business that would be generating me millions online but proved abortive. It was simply because I had no means to make a $75 paymemt online. This is a microcosm of why people are fleeing. If you can't even undertake the simplest of economic activity, how muchore bigger things.

The Naira is 840.i changes an d dollar bill on Thursday for 80, 000. If it was new, it would have been 83,000. The free fall of the Naira when the price is quite shows the level of economic incompetence of Buhari and Emefiele.

Apart from the economy, the level of kidnapping by Fulani is scary and they are very cruel. I am to travel to Ondo soon from Lagos and I am very worried.

Don't mind him...even White citizens sweat before they can make that amount. Years and years...not easy. He thought it's like making naira...

naijanaso:
See how you are just mentioning $15m...how many of them have been able to make $1m?

A good source of advertisement and awareness. Some will want to join after hearing this.

datola:
Why are they celebrating... Are they supposed to abscond with the money

sAme with Nigerian banks...


welcome to capitalism

wonder233:
American companies are like that. They fire without notice and lock you out. Whether you're a full time staff or contract staff, your job is not secure, it doesn't matter whether you did something wrong or not, you can just come one day and the security man won't let you in.
For all the b.s they promote about humanity and political correctness, they are the coldest people to work for.
When I was in ExxonMobil back then, you could see people moving about the workplace without self confidence, because any minute you could be let go.
There is something highly toxic about American workplaces

I believe it will succeed...not just via insight, but also through this:
https://www.youtube.com/watch?v=gQxcYY_opHc

Watch from 13:30 -14:30

Keep on...

Treadway:
that Meta own dey bust my brain. The project is almost bankrupting Mark, and it is surprising for me cos I believed in the viability of that project. Even came up with a tech start up idea hinged on VR, due to my conclusion that the greater population of the world today are vain people who want a reality different from actual reality. Actual reality sucks for these people. So the expectations is/was they would all turn to anything and everything VR...it will be like a new kind of digital cocaine, ppl living in a fake reality and always wanting/needing to run back to that. I'm gobsmacked about how everything is now playing out truly

Chai![quote author= post=118083427]Canada is struggling with an acute shortage of workers, particularly in skilled trades and industries like healthcare.
The most recent job vacancy data showed there were 958,500 open roles in Canada.[/quote]

MrPresident1:
Here is the reason for Russia's mobilization, the overflow of the King of the North is coming. Men and materiel in one massive blitzkrieg

All right. Thanks for replying...let's wait and see as it unfolds...

What will the New World Order entails? And which countries will be partakers of this order?

MrPresident1:
The Bible is very clear in telling us that what is in the past is still the same thing that is, now.

Before World War 2 broke out, Chamberlain declared Peace and Safety

Before Russia invades Eurasia and puts the US/UK/NATO/Israeli empire to heel, there will be a declaration of Peace and Safety too.

Likely Joe Biden or Boris of London will declare it as it is the end of the Anglo-American empire and the institution of a new world order under the United nations which in itself is the Eighth beast

Revelation 17:10-12
King James Version
10 And there are seven kings: five are fallen, and one is, and the other is not yet come; and when he cometh, he must continue a short space.
11 And the beast that was, and is not, even he is the eighth, and is of the seven, and goeth into perdition.
12 And the ten horns which thou sawest are ten kings, which have received no kingdom as yet; but receive power as kings one hour with the beast.

blowjohn:
What is the point of having a prepaid card frm ur bank but same bank won't sell u dollars?
U have to go and buy outside and go inside to deposit it.

This is so annoying ehn...even to open a domiciliary account, you have to go out to source for it (security risk).

Someone with sense...people don't know how much dollars are needed to meet daily needs...not to talk of monthly and quarterly...and accessing dollars in the bank is not easy...while black market is fast....

aishatui6630:
Naira will even depreciate the more because the 'parallel market operators' will go underground, and there will be no more FX to meet the demands

What about your sisters...are they still over there?

Sochieke:
3 years ago I was basically a King from 2018 to 2019. I was doing my MBA in Zurich Switzerland, the most expensive city in the world. I was young at 24 to 25 years. Before that I was in Malaysia doing a levels and Bsc between 2010 and 2017 plus gap years I took.

Malaysia is less expensive than Switzerland but its not really that cheap because I lived in the capital (Kuala Lumpur). 2 of my sisters were also studying together with me. All financed by my father

All funded by my late father. My school fees in switzerland was 33,000 swiss francs and 25,000 swiss francs for living expenses for 1 year. Together everything then was about almost 40 million naira for a year.

While I was there I didn't try to find a job until it was too late (permit was expiring). Before that I'd never worked a day in my life before.

Basically I lived a life of luxury and everything came crashing down

I left switzerland in December 2019, didn't finish my MBA. No funds. Dad's burial took almost everything . family was in so much debt. Its crazy

Dad died few days I was supposed to leave for switzerland (he was old enough 95 years).

Anyway countdown three years later. I'm doing POS business in Lagos. I tried dispatch business but I stopped after 6 months unable to find quality riders and the Daily headaches.

Back to your question on grace to grass.

I used to travel a most every 2 weeks when I was in Switzerland. I've been to France, Germany, London, Dubai for holidays before and now I do a POS business. Its funny because i could be insulted by people wey never cross third mainland bridge before in tjis POS business but it makes me laugh though. I don't beat myself up.


If I tell people say I from.Switzerland, dem no go believe.

Tried to get a job but no positions.

I regret certain things I did. I was too comfortable that I didn't even try to get a job until it was too late.

I regret certain actions. I wished I could change things but I've moved on. Om working hard to see what I can do to rebuild. I believe if God gives me life I can go back to my former lifestyle with improvements

I'm trying to see if I can go back cheaper place like Canada or others, getting help from sister.

Picture attached was my swiss visa.

Thebigheart:
Oga na lie, all the money you haord must be a waste if you refuse to invest and circulate it.

Imagine, I went to the to make transactions on Thursday, I was rightly told that there is no money.

I was shocked like BUHARI shock.

foreign currency or our naira?