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Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency - Investment (2) - Nairaland

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Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by GeneralPula: 1:43pm On Jul 26, 2019
I don’t think anything is wrong with crypto except the scamming issh if not sharp.
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Nobody: 1:45pm On Jul 26, 2019
rita25:
NO NA CATECOIN I WAN BUY MTCHEWWWWWWWWWWWWW
angry angry angryI CHUKWU MY MOUTH
What's she saying
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Nobody: 1:47pm On Jul 26, 2019
gowaga68:
Get in touch
Okay
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by efemena5050(m): 1:49pm On Jul 26, 2019
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.
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....

4 Likes

Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by ediko5(m): 1:50pm On Jul 26, 2019
ednut1:
who remembers Liberty Reserve

Yes oo.

With E-gold.

1 Like

Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Nobody: 1:50pm On Jul 26, 2019
Few government only back cryptocurrency because it's not taxable. Phony government all out for their interest only.


I'm forever trading my bitcoin.

5 Likes 1 Share

Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by frowland(m): 1:50pm On Jul 26, 2019
[s]
kirkwood:
Cryptocurrencies that other countries have adopted and approved. Nigeria is so backward as Bleep.
[/s]

Misinformation right here.

1 Like

Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by shegra58: 1:51pm On Jul 26, 2019
NDIC should shut the Bleep up what is your problem with what I do with me money all this advise is based on their own personal interested they all know that with BTC transaction all the bank transaction is minimal and so is their profit,you're doing all you can to eradicate Yahoo Yahoo and you still want to stop people from trading BTC are you people mad?You just want every body to be on the traffic selling Bread,pure water,reacharge card, BTC has been in existence since 2009 and it has come to stay, everything is a risk,they say take the risk or lose the chance even keeping money in bank is risky please tell me what happen to the money kept in Savannah bank and Societe General Bank before and after the bank went liquidated? You just want the poor to keep on getting poorer and rich getting richer after you've secure the future of your unborn generation Na God go judge una.... BTC is fun and risk worth taking

6 Likes

Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by DigitB: 1:52pm On Jul 26, 2019
N
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Youngzedd(m): 1:53pm On Jul 26, 2019
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 use.

Don't worry too much, Facebook Libra is coming...

1 Like

Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by deltateam: 1:57pm On Jul 26, 2019
Flier:
Lol they should go and warn their family member
What I do with my money is my business

So it was in the days of MMM. Men were wining and dining until it kpakam.

Continue...
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by streetfabulous: 1:57pm On Jul 26, 2019
Come on NDIC, embrace the inevitable future. They should start thinking of a regulatory framework to secure cryptocurrency transactions rather than 'playing the ostrich' to wish away what some countries have adopted as an emerging global trend. Even professional bodies like ACCA are already thinking of how to deliver reporting and accounting standards on cryptocurrency transactions for financial statements.
The United States are already considering regulations too because people are already transacting and although highly volatile at the moment, it is already tradeable in global financial markets. Nice response from the Speaker Femi.

3 Likes

Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by nurez305(m): 1:58pm On Jul 26, 2019
Will you keep kwayet and keep your advice for your family... Stupid people

2 Likes

Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Xisnin(m): 1:59pm On Jul 26, 2019
kirkwood:
Cryptocurrencies that other countries have adopted and approved. Nigeria is so backward as Bleep.
No country uses crypto as its main currency.
This warning is for financial illiterates who think they can get rich quick.

1 Like

Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Xisnin(m): 2:00pm On Jul 26, 2019
Job2004:
Crypto currencies are backed by Block chain technology. We are always behind global trends.
The world is moving ahead
What is blockchain technology?
If crypto crashes can you demand your money back?

2 Likes

Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by mmsen: 2:02pm On Jul 26, 2019
They need to issue the same warning against naira.

1 Like

Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by mmsen: 2:03pm On Jul 26, 2019
Xisnin:

What is blockchain technology?
If crypto crashes can you demand your money back?

Can you do the same for naira?

9 Likes

Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by nextstep(m): 2:03pm On Jul 26, 2019
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....

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 $19,650 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 trust cryptos? 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. There are those who make money from trading it, but that's little comfort to somebody who needs to be sure that the #4M they put in it last month will still be there at year's end.

3 Likes 1 Share

Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by kirkwood: 2:06pm On Jul 26, 2019
Xisnin:

No country uses crypto as its main currency.
This warning is for financial illiterates who think they can get rich quick.
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by shigoslim(m): 2:09pm On Jul 26, 2019
Bitcoins change my life ..... grin grin grin grin grin abeg check my profile i still they buy ans sell gift cards, bitcoin and paypal for check out .
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by NnwachukuOkike: 2:09pm On Jul 26, 2019
Fulani jihadist led Nigeria evil policymakers, have started again with evil policy to unleash another hardship on those in Nigeria Fulani jihadist system investing in Cryptocurrency.

Why is this zoo called Nigeria always introducing hardship policies against the masses in the zoo called Nigeria



Other countries of the world are making policies to protect Cryptos for the interest of their citizens. But Nigeria is instead about to regulates Cryptos because its changing the lives of the masses financially.


Just look at useless reason the zoo called Nigeria Fulani jihadist system is giving to sabotage Cryptos in Nigeria.

1 Like

Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Xisnin(m): 2:13pm On Jul 26, 2019
mmsen:


Can you do the same for naira?
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.
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Xisnin(m): 2:17pm On Jul 26, 2019
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....
You said nothing which shows that you understand neither cryptocurrency nor how money works.
Crypto trading is like bet Naija, its only selling point is that suckers
believe they might one day get lucky.
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by saaron(m): 2:18pm On Jul 26, 2019
These people have no idea Cryptocurrency is the future. Fiat currency will disappear by 2035.
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Nobody: 2:19pm On Jul 26, 2019
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.
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Xisnin(m): 2:22pm On Jul 26, 2019
shegra58:
NDIC should shut the Bleep up what is your problem with what I do with me money all this advise is based on their own personal interested they all know that with BTC transaction all the bank transaction is minimal and so is their profit,you're doing all you can to eradicate Yahoo Yahoo and you still want to stop people from trading BTC are you people mad?You just want every body to be on the traffic selling Bread,pure water,reacharge card, BTC has been in existence since 2009 and it has come to stay, everything is a risk,they say take the risk or lose the chance even keeping money in bank is risky please tell me what happen to the money kept in Savannah bank and Societe General Bank before and after the bank went liquidated? You just want the poor to keep on getting poorer and rich getting richer after you've secure the future of your unborn generation Na God go judge una.... BTC is fun and risk worth taking
Why should anyone choose bitcoin over Bet Naija?
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Xisnin(m): 2:23pm On Jul 26, 2019
Flier:
Lol they should go and warn their family member
What I do with my money is my business
The problem is that you will start cursing Nigeria when you become bankrupt from gambling
with crypto.
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Nobody: 2:24pm On Jul 26, 2019
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Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Xisnin(m): 2:25pm On Jul 26, 2019
Mftivi:
Lol backward people. Not being backed by any central bank is exactly it's selling point you dullards!
Actually, its selling point is that poor suckers can easily be fooled into buying so as to enrich founders
and whales.
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by bbstarr(f): 2:25pm On Jul 26, 2019
See talk abeg... NDIC should shut up Jare! Crypto forever. If you're not emotionally strong, don't dabble into it. That's all.
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by Xisnin(m): 2:30pm On Jul 26, 2019
aaronson:
Few government only back cryptocurrency because it's not taxable. Phony government all out for their interest only.


I'm forever trading my bitcoin.
Crypto is taxable.
The only reason most people deal in crypto is due to market and media manipulations and the belief that they can get rich quick from it.
Poor people who believe the claims then lose their money to big players.
Re: Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency by wizardus: 2:31pm On Jul 26, 2019
Must it be backed by central bank...


Iran tells Nigeria. .give us el-zakzaki for treatment


https://www.youtube.com/watch?v=x_Z2JUGsxGw

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