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Nairaland Forum / Nairaland / General / Investment / Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days (63109 Views)
1.5 + Odds Under 2.5 Single / 150k Under 2 Months / Crypto Is A Manipulated Market! (2) (3) (4)
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Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Justnow2022: 1:20pm On Nov 11, 2022 |
GREATIGBOMAN: Hold your position, Naira appreciated because looters have pause for now since the efcc onslaught on BDC. Looters don’t want to take their naira to the bank, they prefer buying dollars with it. That’s why naira fell sharply. Just wait as the CBN deadline for old naira notes approaches, the Naira will hit 850 or 900 again. BTW, you’re not the only one affected. I went to Zone 4 Wuse yesterday and all the BDC guys were lamenting, yet they were begging me to sell my little dollars. I simply sold $500 at $710 for my monthly upkeep. The main problem with this country is that why we pray naira appreciates, I have never seen the average trader reduce prices to reflect the gain. 8 Likes 1 Share |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by nurish(m): 1:21pm On Nov 11, 2022 |
100% |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Tboy1419: 1:21pm On Nov 11, 2022 |
GREATIGBOMAN: BUSD and BNB |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Tboy1419: 1:23pm On Nov 11, 2022 |
GREATIGBOMAN: It may not brother, the CBN policy of rebranding the new naira note has exposed many criminals. 3 Likes |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by DenreleDave(m): 1:24pm On Nov 11, 2022 |
may you lose your money in Jesus name if you pray for our national currency to lose value. u will never regain the money again GREATIGBOMAN: 5 Likes 2 Shares |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by rottennaija(m): 1:25pm On Nov 11, 2022 |
juniorstar: He bought fait not crypto. If he had spent the money of say bnb, btc, eth, doge, etc, I would say makes sense. USDT is fait. If naira appreciate further, if Nigeria joins BRICS and start trading with China using our local currency, naira will appreciate and he would lose more. 1 Like |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Geekamon(m): 1:25pm On Nov 11, 2022 |
Naira didn't really appreciate. Just USD dropped. It will bounce back GREATIGBOMAN: |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by tabaralph: 1:26pm On Nov 11, 2022 |
GREATIGBOMAN:My dear once the redesigned naira floods the economy trust me naira will be firm against the dollars, no politicians keep money at home again, naira will surely appreciate, it’s when the naira was still flooded the economy the politicians mopped up the dollars last week just to do away with the naira they stocked at home that was why the dollars skyrocketed last week 3 Likes 2 Shares |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by AgentGoat: 1:26pm On Nov 11, 2022 |
GREATIGBOMAN:Wait till December before you sell. |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by bobbiiee: 1:27pm On Nov 11, 2022 |
Can you give reason please? Wrakeim: |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by skentelelady(f): 1:27pm On Nov 11, 2022 |
GREATIGBOMAN: I was once like you in late 2018, I bought BTC worth millions and it crashed before march 2019. OOOBTC exchange collapsed with my 80k doge whenni was 30sat. I almost ran mad. I vowed never to do anything crypto again. Deleted Luno, Imtoken and all wallets 1 Like |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Originalsly: 1:27pm On Nov 11, 2022 |
I'm not into Crypto nor am into such financial investments. From observations ... I say you did well to convert to US dollars ... the other choice was gold. The thing about the US dollar is you bought at the wrong time. If you can manage until February or March ... park it. Let's reason. Why was the exchange rate so high? It was a matter of demand and supply. Merchants had to buy stuff for the Christmas Season .... they need USD.... Merchandise has to be paid for .... shipped .... and arrive before December in order to be on the market. Late September to late October ... merchants will be scrambling for every dollar making it scarce raising the amount paid per dollar.By this time of year.... major purchasing has already been done ... the demand for USD is no longer high ... so the amount paid will be falling. They are now in the collecting phase... purchasing phase is over. Come December and Diasporians would be trooping home with USD .... they will flood the market. The amount paid will drop significantly. This will be the best time to buy USD .... the reason I said good move .... but bad timing. What you can do... is sell off .... take a small loss .... and rebuy at Christmas when you should be able to recoup the loss and make a reasonable gain. My opinion based on my observations. 1 Like |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by LegalWolf: 1:27pm On Nov 11, 2022 |
GREATIGBOMAN: Omo make I no lie, as e pain you na him e sweet me die . I have gotten ticket to the UK to start a role when pounds was going for 950..Thank God I did not buy in bulk. I will flying next week and I can now buy so much (plus using Form A) 1 Like |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by walerush: 1:27pm On Nov 11, 2022 |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by MARSONE: 1:28pm On Nov 11, 2022 |
Hey OP, I am sorry to tell you that what you did is not investing in crypto but just changing your naira to USDT and keeping. If I were you, I will turn that $19,000 to $19,000,000 in less than 2 years on the best projects that are at give away prices right now. You lost money in your other trades because you are a FOMO trader without experience. When you see this, buy the following and thank me later. LABS GROUP LITHIUM FINANCE DYDX CASPER ICP SOLANA MINA GFI XCH VEGA MERCURY FINANCE WELLS SHEDEN NETWORK APTOS STG HNT HBAR SPELL APE COIN Remember to do DCA when you trade and learn how to trade bot FOMO else you will keep loosing your money. Do not sell any of your coins till BTC gets to $100,000 and above. You will never work for any man again. Thanks |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Krismas(m): 1:29pm On Nov 11, 2022 |
GREATIGBOMAN:The redesign of Naira is going to take a great deal of currency out of circulation. Imagine a situation where only 6% of printed notes made the rounds, while 94% of them in d hands of politician and business moguls hoarding it in their bedrooms. Naira is going to appreciate real soon. That should have been obvious. 1 Like |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Hotice085: 1:29pm On Nov 11, 2022 |
GREATIGBOMAN: Good for you, oju kokoro kee you dia 1 Like |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by frankson1(m): 1:29pm On Nov 11, 2022 |
Cooleeey: And you think that after elections the dollar will rise against Naira |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Tboy1419: 1:30pm On Nov 11, 2022 |
Wrakeim: Trust wallet and metamask are the best for now. |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by walerush: 1:30pm On Nov 11, 2022 |
GREATIGBOMAN: Hi, If you have some minutes, I will advise you to read this article to know exactly what’s going on with the Dollar. https://www.reuters.com/markets/currencies/dollar-advances-ahead-inflation-data-cryptos-crumble-2022-11-10/ The Naira appreciated because of what’s happening with the Dollar, this doesn’t mean that Nigeria’s production capacity or the FX supply increased. I rarely comment on here but felt it will be helpful for me to share this. 3 Likes 1 Share |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by coronavirus19: 1:30pm On Nov 11, 2022 |
Wrakeim:Lol it isn’t naira gaining against dollars. Simply dollar losing value. 2 Likes |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Allisgud: 1:31pm On Nov 11, 2022 |
Cooleeey:dollar will be 250 by then 2 Likes |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by ngadaAwo: 1:32pm On Nov 11, 2022 |
DenreleDave:shatap ostrich see your neck |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by youngemperor(m): 1:32pm On Nov 11, 2022 |
Lol, i had 2btc in March when Bitcoin was 47k$, i still held on to the 2BTC plus other deposits into wallet.. over 50k$ gone, and i haven't sold a dime out. 1 Like |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by vince96w2(m): 1:34pm On Nov 11, 2022 |
GREATIGBOMAN:no one is an expert in crypto..But as you can see, the scarcity big dollars in internally generated..Raiding BDC operators is causing Naira to appreciate..you need to hold ur crypto assets more when prices crash and sell when they go up that's the way you won't lose in crypto..that was for the Shiba Inu...further more also in crypto put what u can afford to lose..70 % of ur savings is way too much ..As for the USDT you bought, you either wait till it appreciates or look for coins that have potential and buy..wait for bull period. 1 Like |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by kmaster007: 1:34pm On Nov 11, 2022 |
How much be Ur fee Drunkard1: |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by frankson1(m): 1:35pm On Nov 11, 2022 |
GREATIGBOMAN: Oga, you only buy when it's low to sell when it's high. If you think that the Dollar will keep rising against the Naira, then you're wrong. Your prayer is that it rises to N900 You better withdraw the little money left or you will cry blood because I'm also praying that it will never rise to the N900 you're hoping for. 5 Likes |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by alizma: 1:35pm On Nov 11, 2022 |
Cooleeey:After election dollar will crash, dollar only gain this time because people that keep money in their house in large volume decide to change it to dollar due to CBN declaration to redesign naira, coupled with the increase in demand for dollar to stock up goods against the season and politicians that are trying to get as much dollar as possible to bribe the political masquerades in various states, by February ending, all this will be over and naira will likely gain more value then 4 Likes 1 Share |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by TGLINKS(m): 1:36pm On Nov 11, 2022 |
Person like u now go d shout say buhari no Sabi rule.onuku 1 Like |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Allisgud: 1:36pm On Nov 11, 2022 |
Dollar must come back to where it was before 165 in Jesus name 3 Likes 1 Share |
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by egunna(m): 1:36pm On Nov 11, 2022 |
GREATIGBOMAN:may u incure further loss in whatever u trade in.since it's ur prayer that naira loses value.u must have d courage to come here and tell us to advice u on nonsense like this.u want things to be bad for us so u can progress?more losses to u |
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