Xisnin:

Actually, its selling point is that poor suckers can easily be fooled into buying so as to enrich founders
and whales.

I don't like when people quote me then writes some dumb shit. I don't know know where to start schooling you from but let's say you are the sucker.

Great countries are keying into cryptocurrency at infancy. Nigeria is waiting to key in when it will become a tokunbo.

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At the moment, transactions on cryptocurrencies is purely experimental. The major aim is to see how market forces will react to the smoothness of crypto transaction via blockchain network in changing market conditions as blockchain develops. It's just a tiny fraction of people worldwide (1.5%) that currently does business with cryptocurrencies.
As more people, business organization, commerce merchants, and govt institutions, hospitals adopt cryptocurrency in developed countries, the value of cryptocurrencies will skyrocked at a geometric rate and stabilize, making them the standard measure of value for all financial transactions worldwide.

Mftivi:
I don't like when people quote me then writes some dumb shit. I don't know know where to start schooling you from but let's say you are the sucker.

Suckers have a specific meaning, you don't get to change it as you like.
If you one of the accidental "winners" who think they have arrived.
Know that your money eventually belongs to the whales whether you like it or not.

But if you are one of those deceiving ignorant people to part with their money,
all I can say is good luck!

Xisnin:

Yes.
Naira value will always exist as long as Nigeria's government exists.
But if you are so confident in your crypto, kindly liquidate your assets and
invests 99% in cryptos.
You will have a story to tell in 6 months.

You speak as if the naira did not lose 1/2 its value from 2013 to 2018.

Bitcoin went from 250 usd to 20k in the same time period. What nonsense are you talking?

Is there no risk in stock exchange and forex market? Yet,people that do it still do it, Australia had already taken advantage of transactions on cryptocurrencies, every Australian have to release 10% of their earnings for every transactions.

This is very informative information.

@Xisnin, abegi, nothing you say go change their mind.
Any currency wey iya alata, chikwudi alaba, Musa gold etc no go accept from me, I no dey do.
Crypto currency should be for those into currency speculation just like stock trading.
Stability is one of the features of currency as a medium of exchange anywhere in the world, a currency that it's worth is uncertain the next minute after exchange na recipe economic disaster.

Xisnin:

Suckers have a specific meaning, you don't get to change it as you like.
If you one of the accidental "winners" who think they have arrived.
Know that your money eventually belongs to the whales whether you like it or not.

But if you are one of those deceiving ignorant people to part with their money,
all I can say is good luck!

Guy pick up a book and read wtf! What's cryptocurrency got to do with deceiving people to part with their money ? I get it, your friends invested but you didn't so now they rich and you are big mad lol. An intelligent investor can hit home runs with his investments over and over!

mmsen:


You speak as if the naira did not lose 1/2 its value frow 2013 to 2018.

Bitcoin went from 250 usd to 20k in the time period. What nonsense are you talking?

You must be a newbie. Cryptocurrency values vary widely due to speculations and market manipulation.
Cryptos have no value except as speculative currency.

You didn't mention that bitcoin fell from $19700 to $3500 within a few months in 2018, making poor ignorant
people poorer and enriching big players.

You might think I am anti-crypto but I am not, I do trade in crypto but I know that it is not different from MMM or gambling.
Same cannot be said for people who are being fooled to invest in what they don't understand with the promise of quick riches.

Xisnin:

Why should anyone choose bitcoin over Bet Naija?

This is a matter of choice,do what you think is better for you and what you know how to do best

OlujobaSamuel:
@Xisnin, abegi, nothing you say go change their mind.
Any currency wey iya alata, chikwudi alaba, Musa gold etc no go accept from me, I no dey do.
Crypto currency should be for those into currency speculation just like stock trading.
Stability is one of the features of currency as a medium of exchange anywhere in the world, a currency that it's worth is uncertain the next minute after exchange na recipe economic disaster.

You captured my thought with the bold.
It is not my business what someone does with their money but some poor people
are being deceived into various crypto schemes with lofty promises only to lose
their money. If crypto was fully explained to these victims, most won't partake.

The funny thing is that the organizers usually blame the market for the loss. In one
of the cases I am familiar with, the organizer told EFCC that he doesn't understand crypto
and was also deceived by news articles and hence a victim too.

efemena5050:
over sabi wan tear this one skintight.... I bliv u only u understand ur write up above.... True Nigerian, always trying to sound intelligent like Nta ait and silverbird discussions.... Without any animate proof to that same discussion....

He actually is intelligent you should whip out a book and start taking notes. Crypto currencies are very volatile and best for speculation for now. Before I hold reasonable amount of cryptos I check the longterm trend so it won't tank on me over night. Converted my Btc to fiat when it all time high of 19k plus. I got in again at the recent swing low close to 3k

Xisnin:


You must be a newbie. Cryptocurrency values vary widely due to speculations and market manipulation.
Cryptos have no value except as speculative currency.

You didn't mention that bitcoin fell from $19700 to $3500 within a few months in 2018, making poor ignorant
people poorer and enriching big players.

You might think I am anti-crypto but I am not, I do trade in crypto but I know that it is not different from MMM or gambling.
Same cannot be said for people who are being fooled to invest in what they don't understand with the promise of quick riches.

Not a n00b at all. Comparing btc with MMM shows that you don't have a clue.

I was holding btc before it hit 1000 for the first time and then dropped in value.

Peaks and troughs but long term the trajectory is upwards. You cannot say the same for any fiat currency, especially the naira.

Wetin concern me concern ndic


.concern me


Crypto has done what Nigerian govt will never do for me

FCK ndic

nextstep:


Er... the poster child for cryptocurrencies (Bitcoin) varied from $12,927 to $9,422 in the past month, and hit as low as $3,147 less than 6 months ago. Not to mention its peak at $1950 early 2018. How's that for proof of volatility? Imagine if the dollar or yen varied so much. You can't have a currency jumping all over the place if it wants to replace more stable fiat currencies.

If the most visible type of cryptocurrency is so unstable, how will the general public be convinced to used it? There is also lots of fragmentation (many different coins and exchanges with different values). Large financial institutions and companies (e.g. JPM Chase, Facebook) are issuing their own, defeating the very ethos of "decentralized", since it just means that large companies will own the very thing that's supposed to be ownerless.

Trading in cryptos, like any other speculation, should be done by those who are fully aware of the risk. I can't in good faith advice somebody who's saving for their house, retirement, or children's education to put their money into crypto. It really has no inherent value, and since there's no government that pledges to defend it, it will continue to suffer from swings.

The bold is the truth but expect crypto activist to come out in full attack mode.

This NDIC be mumu. They are trying to kill crypto for theor own gain. They do not have masses at heart.

Well, crypto has gone beyond this level.

Simplyleo:
I really missed a good opportunity with this crypto thingy.

I could boast of close to $40k when a unit of bitcoin was barely $1k but I wasn't even aware of the stuff. It was when I had almost finished my hard currency that one goat started explaining and then it was as high as $6k. And even then, I could still afford one but I thought it was risky as per stock market. Now, I understand it goes for as high as $26k and I don't have even $1k

You are actually the GOAT in your comment. I heard about Bitcoin far back as 2012.. I too refused to invest, but woe betide me if I call the guy that told me about Bitcoin in 2012 a GOAT. We that knew about it and refused to Invest are the GOATS.

This stupidd Nigerian govt again? They think crypto is mmm they killed with their satanic media. No way!! Cryptos have gone beyond that.

If I'm speculating on the volatility or participating in crypto pump and dump .........how the fuvck is it their business?

NotJobless:




The Nigeria Deposit Insurance Corporation (NDIC) has issued a public warning about relying on cryptocurrency transactions. This was done via a press release on the 25th day of July, 2019.

According to the press release, managing director and CEO of NDIC, Umaru Ibrahim. said relying on cryptocurrencies is very risky, because they are unregulated and not backed by central banks in most financial jurisdictions.

The NDIC provides a safety net for depositors and aims to protect the banking system from instability caused by bank runs or loss of confidence.

According to Ripples Nigeria, Umaru Ibrahim had previously talked about his concerns during a courtesy call with the NDIC board and the Speaker of the House of Representatives.

Speaker Femi Gbajabiamila, spoke on eagerness to regulate cryptocurrencies and partake in the emerging global crypto market. He said:

“The NDIC and other safety-net participants in the country must not be left behind in the adoption of appropriate regulatory framework to deal with the prevalence of cryptocurrencies in the global financial space.”

Many Nigerians are currently using Cryptocurrencies and there is need for the regulation of this sector in the West African Country,

From TestBoo.Com - https://testboo.com/nigerian-deposit-insurance-corporation-warns-against-cryptocurrency/

NDIC CENTRAL BANK, AND BANKS ARE THE BIGGEST SCAM. unfortunately they are legalized by the government. Just imagine every bank account owner works into the bank to,withdraw their money. They can't pay you because they have given out most of your money as loan, where they collect huge interest and pay you peanut which is conditional.

What is NDIC insuring? A bank goes bankrupt with your 10million savings. The best NDIC will pay you since the bank deposits are insured is n50,000. Go and ask JJ Okocha what they paid him, that is even if they paid at all.

NDIC can't employ a Blockchain/cryptocurrency specialist to advice them, they are talking trash or saying what they don't.

If you like this post tap like.

Don't mind these people, there's this stablecoin you even use to buy goods online, it is called TREOS

This is a wonderful coin called TREOS

Simplyleo:
I really missed a good opportunity with this crypto thingy.

I could boast of close to $40k when a unit of bitcoin was barely $1k but I wasn't even aware of the stuff. It was when I had almost finished my hard currency that one goat started explaining and then it was as high as $6k. And even then, I could still afford one but I thought it was risky as per stock market. Now, I understand it goes for as high as $26k and I don't have even $1k

The past is past.

Focus on discovering the opportunities that are present now.

The future is even more pregnant than yesterday.

No time in history could 30-something-year-olds be billionaires in large numbers.

In the nearest future there will be tons of teenage billionaires and wealth created at unprecedented scales.

There has never been any opportunity to break away from Western global monetary control than Bitcoin. With Bitcoin payment takes few minutes and you can bypass the daily exploitation going on in New York, London, Frankfurt, plus save time. You'll think that third world countries would rally around cryptocurrency and exploit it to see how it could help us break away from Western control but they're doing the opposite.

This is a clear testament that elites in former colonized countries are brainwashed slaves.

BuddhaPalm:


The past is past.

Focus on discovering the opportunities that are present now.

The future is even more pregnant than yesterday.

No time in history could 30-something-year-olds be billionaires in large numbers.

In the nearest future there will be tons of teenage billionaires and wealth created at unprecedented scales.

Thanks bro.

And amen @ the emboldened, hoping to be among.

oglalasioux:
I know this crptocurrency is a good investment but Nigerians will spoil it with greed. I know guys and even girls are already collecting money from unsuspecting people in the name of investment in crptocurrency that doesn't exist. Good caution from NDIC.

When people collect money from others in the name of cryptocurrency,it has nothing to do with cryptocurrency. At least fraudulent people do collect money from people to invest in shares, TB and bonds and later dash away with the cash.

Only people and countries that reflect 100% transparency will stand with and for cryptocurrency, because of its unusual features which include scalability and transparency.

Many developed countries are now having advance courses on blockchain development and many people who can see into the future are taking up this rare advantages.

Cryptocurrency, a sub division of blockchain technology is the future and the future has already started.

Bitcoin along with other cryptocurrency tokens and coins have the potential to lift the African countries out of poverty.

nextstep:
I'm not a fan of fiat money issued by governments, and welcome the dominance of currency whose value is determined by decentralized agreement among peers. My only issue with cryptos is their instability. How can I hold money when I'm not sure how much bread it will buy from week to week? Forget the investing/speculating part. Just hold a coin, and what it can purchase fluctuates from day to day. Unless it becomes ultrastable it really has no chance of becoming a defacto currency.

there are stable coins.. You can integrate most stable coin into your website dashboard and start accepting them in minutes.. Stable coins hardly goes down to 0.9$ to 1$

Newguyhere:
typical bs talk from people who don't care about the masses
Bitcoin changed my life!!

bro pls i want to learn also. and am very serious about it. anything to escape this harsh economy will do

Herrymax:
I get dogecoin, anyone interested

Yea

Herrymax:
I get dogecoin, anyone interested

chat me on whatsapp

ednut1:
who remembers Liberty Reserve

liberty reserve was not a crypto currency