Topic: Naija Novice Hangout {Newbies introduction & Orientation} Thread. - page 253. (Read 1033065 times)

Me self I never enta the market sha, I just dey observe how e go be so I pick some bag of NFT tokens soon.

Baba, you see as BTC dey fly dey go Baba dey para gan.

No be lie oh, I no believe mining go fit work self, the challenges much. First you go need government approval so you fit get constant light on a low budget because if you wan run am yourself e go be for your head, dem go use bill kill you. You know say even the oyibo miners self dem no dey too profit like that immediately unless bitcoin just provoke run dey go up and e be say dem been dey hold the previous coins dem mine.

Make we just leave the mining matter as na dead end. If the OG's wey dey the game for nigeria never reason am, e must get why maybe dem don waka for am see say no way that side oh. If you noticed all of dem go trading and promotion like ambassador can of thing for projects wey relate to the industry. If you think say mining fit work for nigeria, air you own opinion, convince us wella.

Lol. Nobody fit advice this government to encourage anything that would aid the wellbeing of her citizens, just take a look at the regulation placed on crypto exchanges and banks. Omo, if person set mining equipments/firm for 9ja government go off him light I swear make we no use keyboards dey deceive ourselves. Mining no go work for 9ja.

Nigeria get the lowest electricity bill in the whole world we dey operate 0.07 per kilowatts hour for household so from de economical point of view e dey profitable to set a mining pool in this region. But De issues na be say the light is not steady, it's not reliable

Lol. Nobody fit advice this government to encourage anything that would aid the wellbeing of her citizens, just take a look at the regulation placed on crypto exchanges and banks. Omo, if person set mining equipments/firm for 9ja government go off him light I swear make we no use keyboards dey deceive ourselves. Mining no go work for 9ja.

if by God grace I mistakenly get my hands on mining equipment e don be for all miners for oyibo oh. The electric something no go be problem, we go go illegal although for this side na indigene something nobody go reason you. Where problem fit dey na to learn am but we go still run am, abi no be just computer pressing something lol.

Any miner dey dis country self I doubt, me don reason am tayahh if by God grace I mistakenly get my hands on mining equipment e don be for all miners for oyibo oh. The electric something no go be problem, we go go illegal although for this side na indigene something nobody go reason you. Where problem fit dey na to learn am but we go still run am, abi no be just computer pressing something lol.

@Charles-Tim, Baba Which site person fit get the mining machines and how much on estimate using the current Dollar-Naira rate e fit cost person?

Any miner dey dis country self I doubt, me don reason am tayahh if by God grace I mistakenly get my hands on mining equipment e don be for all miners for oyibo oh. The electric something no go be problem, we go go illegal although for this side na indigene something nobody go reason you. Where problem fit dey na to learn am but we go still run am, abi no be just computer pressing something lol.

Wetin be bitcoin problem self, e no wan fall small make we use our useless naira wey dey bank buy, e dey pain me ehh. Now e dey $50k plus. E no dey even carry e brothers along well, e just dey show dem small small love no major rubbers.

Assuming the love been much Ethereum for don blow go far na, anyways other get any coins una eye set for make person do small waka for the coin head see if I fit buy small.

Nigeria no be country for mining except the miner get another means to generate him personal electricity and security. That go even too dey expensive to maintain. Untill when government need make him improve electricity supply and availability of security personnels, a lot of things go still dey pass us by.

Any miner dey dis country self I doubt, me don reason am tayahh if by God grace I mistakenly get my hands on mining equipment e don be for all miners for oyibo oh. The electric something no go be problem, we go go illegal although for this side na indigene something nobody go reason you. Where problem fit dey na to learn am but we go still run am, abi no be just computer pressing something lol.

Wetin be bitcoin problem self, e no wan fall small make we use our useless naira wey dey bank buy, e dey pain me ehh. Now e dey $50k plus. E no dey even carry e brothers along well, e just dey show dem small small love no major rubbers.

One of the biggest trends in recent months has seen Bitcoin flow out of exchanges into wallets. Generally, this is interpreted as a bullish sign — indicating that investors are optimistic about further growth in cryptocurrency prices.

Nigeria no be country for mining except the miner get another means to generate him personal electricity and security. That go even too dey expensive to maintain. Untill when government need make him improve electricity supply and availability of security personnels, a lot of things go still dey pass us by.

About the issue of electricity which is very important for miners to have access to cheap and constant electricity. In Nigeria, most regions do not have access to constant electricity, but there are some areas with constant electricity. I remembered the time I spent in Katsina, although not all areas have electricity, but there was a local government called Batagarawa where almost all tertiary institutions are located, they gave access to 23 hours electricity in a day or more. Also the Katsina town itself have constant electricity, in the GRA, if electricity is poor, there will still be 12 hours electricity in a day, but oftenly having access to more than 23 hours electricity. I chatted with our of our Nigerians that told me of 23 hours electricity in his area too. Although, in my area, electricity is very poor.

What comes to my mind is that, there are places there are constant electricity in Nigeria but few. But, the issue is to know if the electricity is cheap or not. But, there are two types of payment in Nigeria, the prepaid and the post paid. Using post paid, Electricity company in my state do not check Metre at all, thy calculate it based on how big companies and houses are, people can take advantage of this to mine Bitcoin or other crypto assets in Nigeria.

I am not sure about postpaid, it might not be cheap, but users have to calculate this on their own because the bills differ from state to state. I noticed we in my town paid less in electricity than people is another town. Because of this, it will be good for the person that want to mine bitcoin or any other crypto asset in Nigeria to calculate this on his own.

First by checking the watt the miners will consume
Also the watt others like cooling machines will consume during hot weather
Checking also the bitcoin paid by mining pool for the hashes generated for the miners he want to buy.

All thes will be used to calculate if mining is profitable in his area of location in Nigeria. Mining profitability will really differ from area to area.

About the issue if miners, I do not also think ordering from countries like China should be a barrier, but having retailers selling miners here in the Country will make them cheaper, getting it from abroad is not bad after the profitability calculation is made and positive.

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Charles, I don't know about you or the opinion of others about the issue of regulating cryptocurrencies in Nigeria. I no just badu the idea. Wetin I dey try talk be say, we all got into crypto because of the the financial freedom along with privacy that was promised. Accepting to be regulated will make it look much more like traditional financial service providers like banks. Coz CBN go define limits, rules and even punish defaulters wey go against their regulations. Na why I just dey talk say e no too fresh. Well anyhow e be, we go still survive.

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I noticed only two Nigerians commented under the thread to Vice president speech about crypto assets, but it will be good to take a look at it as it encourages Nigeria to remain positive for bitcoin and other crypto assets to be legalized by CBN.
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We no reason am brotherly, no mata how u when write, whether na for oyibo man language or our own, you no get shaking and we gat ur back. I think you don talk better something here. Make I tell una something, so I go filling station go buy fuel play play my ATM card loss.

This one come make me go back, I spend nothing less then 4hours just to get card wey be say if this crypto firms get sense dey for done bring am come nigerian and na just order something we don recieve instead to go waste all our day for bank wey we no dey even reason except when the coins dem wey go Naira.

No be play oh, we need this ATM asap, assuming we get just one self for my ares I no for even dey near my bank again.

So the TLDR be say, we fit no get crypto ATMs if CBN ban still dey active?

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NOTE : pls, i'm sorry for my other brother who had earlier contributed to this thread in pidgin english. i can read the pidgin english unfortunately, i'm unable to write in response to some of these comment(s) in a pidgin english.

Thanks

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This leaves me not positive about this at all than to first expect CBN to legalize back financial institutions to be able to transact through Nigerian banks. Meself go wish if Naija get plenty ATMs.