Topic: Naija Novice Hangout {Newbies introduction & Orientation} Thread. - page 46. (Read 1242004 times)

Our naira done devalue finish have the thing they increase against dollar and considering the redesign of new currency the way people hiding naira they bring am out now they very alarming, some trying to convert it to dollar due to the exchange rate, and to use naira buy bitcoin now no be small money oh like the boss talk this situation they only Favour sellers the thing no balance to buy usdt now no be child’s play.

I no go gree for dis won oo.
Dis ur yaning e get as e bi. How we come cause am. Di citizens dey control money? Or we dey legislate policy. See heaven and Earth, analysis upon analysis. Or put di gun in my throat na di govt cause everything. Please I no wan discuss politics in this thread. If u really want 2 kno why Nigeria or di west African economy is bad is because di greediness of di government. Wen Buhari was in di military govt, the "WEST" (The former colonial master) government told him 2 devalue di Nigerian currency so dey can would bring industries nd development but irony was di case. But Buhari as for then refused and Nigeria economy was very strong so has he came back for 2015 election pipo come dey like am, nd vote 4 ram, dat di same devalue pressure come back again but at dis time, Buhari can't withstand with di pressure so im accept 2di value di naira.

So to what extent did di citizens come follow cause the devaluation? Government control everything in the country so they are to blame 💯%. We only obey what they say and   do what they ask us to do.

I am here to share a story with you today, hoping to soothe the work-weary mind and also inspire us to work together with conviction from some learning points.

Once a group of frogs were passing through the forest. At that time, two frogs from the group of frogs fell into a deep hole. The hole was so deep that it was very difficult to get out of it. Still the two frogs were trying their best. The other frogs in the group were saying that they had no hope of getting out of this hole. But the two tame frogs kept on trying, leaping wildly up and down the slope of the ditch to the steep end at the end and back down again. Then the rest of the frogs on the top shouted to them that, "You can't climb up at all", "This is a very big hole", "There is no way to get up from here" Their words were as if they wanted to say that only hard work will be gained. No, give up hope and accept death and get rid of suffering.

One of the two bangs listened to them and instead of rising to the top of the hole, jumped deeper and died.

But the 2nd frog began to jump more enthusiastically, and the frogs above began to shout louder "don't suffer this in vain, make death easy". But the frog finally came up.

After climbing up, everyone in the group looked surprised at what the frog said. The frog said - "I got the courage to come up because of your encouragement from above. If it wasn't for you, I might have given up. I can't hear with my ears, I only saw with my eyes that you are yelling at me to come up".


Moral of the story:A little encouragement from people around helps people to move forward even in difficult situations. And success comes if you are persistent in your goals without listening to negative words.

The only purpose of telling the story is that our experienced people of this platform are taking us forward with inspiration and love in various ways. If you have a problem understanding something, if you ask them, they will explain it immediately

Love to all those people who are moving forward with small users like us ❤️❤️


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In all of these my question be say, who we go blame? The goverment or the people. I know some of us go dey quick to point fingers give the government but we sef still follow cause wetin dey do our currency. As e be for Naija na so e be for Ghana. I read one article say for some places for Ghana people dey rent in Dollars, the same thing dey happen for we Naija too, coupled with all of us wey dey buy dollar etc. For this matter government alone nor go fit chop the blame. Na all of us cause am.

Check out nah. About 99.4% of Nigerians no get up to 1200naira for their bank account. Na to tell you the level of poverty wey d hove around for the country. Check the statistics of the previous CBN governor towards naira against dollar with current CBN governor. Make you tell whether we d go forward or backward




The report wey d reach out from the worlds currency be sae Ghana, Nigeria d contest for world's worst currency
Na link to report: https://gazettengr.com/ghana-nigeria-contest-worlds-worst-currencies/ no be only us the cry for how our currency take devalue against dollar.

Sure, it would! Although the economic woes of Nigeria have severely battered the NGN, nonetheless, the CBN's policies and deliberate devaluations of it in the course of the years caused the currency to fall so much against foreign currencies.

Regardless, the redesigning of the Naira has its own advantages, yet there is no way it will not negatively affect the currency. In Nigeria, corruption thrives so much, and the people that were laundering/hoarding the Naira would begin panic selling in a bid to exchange it for foreign currencies since they can't deposit it into their bank accounts. This will in turn be mounting more pressure on the already pressured currency.

This is why the Naira is growing weaker. Mind you, the worst has not yet been seen in the hands of the clueless people managing the affairs of the country and its economy.

Sure that one dey, e get people wey be Marchant, dem no dey reason whether Usdt/BTC dey high or low. Their own compass na to make sure the market dey active by buying ur coins from you or selling to you. We dey call dem market makers and dey no be the average retail investors wey dey wan enter the market everyday, this are majorly big time traders wey get funds wey large like wetin I no know as they gets dey ready for any order you put.

This guys (Mate2237) questions no direct to those Marchant, this question na to the average users wey be you and me wey dey trade the market with our small small change that's Why I gave that disadvantage. Now to talk about the advantages. The constant rise in price of the Naira dey also create more awareness about how foolish it's to save in your local currency when an option has been made with the help of cryptocurrency. Dollars now dey easily available at the tap of your phone and you no need go bank go dey pass through all those their wahala.

Na true you talk. But you no too reason am say, any person wey successfully sell USDT, e mean say there was person on the other side wey dey ready to buy the USDT with cash. The big dealers no send, even if e reach 1 USDT = N2,000 dem go still buy and the small difference wey dey ontop na the gain.
E just be like market wey person get for him shop, e no go because say price of goods and services high you no go come buy goods dey only sell. If you sell finish, you go still buy the high price. Where the effect dey na for economy, e no too worry for crypto.

People don dey fear recession nd wth the rate of inflation way dey d nation, people dey desperate dey fine way escape. No b today way Naira start to fall nd wen dem bring this news of reprinting naira matter, people just jump in to take opportunity. Reprinting of notes no be investment and another thing be say, these notes way them dey swap, them dey destroy am and that, na back and forth destruction of resources for nation way already get struggling economy.  Where e bad reach na em b say, the ruling party still dey focused on election nd no dey so anything to better the economy. I no go worry over people way dey swap Naira for dollar, then dey try save thereselves.

The latter should be the case in the event of its devaluation. Dollar will be more expensive to purchase today because naira hoarders will want to convert to a more acceptable currency before the redesign of the naira note. Any amount set for the purchase of a dollar will be accepted by individuals hoarding naira in order to get rid of the money and wait for the redesigned naira note to be released.

They will not go to the bank to deposit big sums of money since they cannot account for it, thus exchanging to dollars is a better option, resulting in the depreciation of naira currency notes. We may expect the Naira to regain its value following the redesign since individuals will still want to acquire the new naira notes in return for the dollars they will now swap for.

Na were naija issue dey be this, no be say initiatives or innovations no dey wey government implement oo but na selection be the wahala, Nepotism go always take place na some of this innovations dey die before he even come to light. Look at that partnership wey dem bin wan do with Binance similar to this one, nobody gree hear anything again oo abi anybody get info about am.

Concerning Crypto related issues for here I feel say na una senior men like Brainboss, Igehhh, CharlesTim dem suppose start am. Make una bring up better topic make new people like myself sabi. You look around technical area of this forum we no planty wey dey engage there and that wan fit influence the board wey we they look for.

Na straight up something people dey with plenty naira wey dem don hoard for long. And now them dey look for stable currency to put them in so exchanging it will bitcoin will devalue and also will increase dollar to naira ratio. Making it hard for people to buy bitcoin now at a cheaper. But one thing I observe be say once this re design don finish naira go begin get value and we fit but Btc back

My broda no small tin oo, like this to even buy usdt now be like say na suicide pesin wan commit bcus e really hard to release dat kind money to carry buy usdt based on country palaba and I hapi say na only cash out we dey like this.
Pipo dey really cry and dis one fit cause serious issues o if time not taking.

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Now again I come dey hear say CBN don put anoda law to monitor account now, since total money wey been dey circulation cum dey small so now dem dey check wia dey money go and how dem go carry recover those money. Sometin wey really catch my attention say any old account with above N50m will be investigated, while newly account created can only accumulates N5m and if it happens say e pass the account go dey monitored by EFCC

Abeg make una read am more here. I no know weda dis Information don already dey carried here and I no know how de information dey authentic reach.

So here's my thought, for the past 1 year I never use my Naira buy Bitcoin or USDT mainly because e dun too cost to buy (asin the exchange rate) and na only sellers dey benefits. I mean to get just common $1.5k na like 1 million plus person go dey spend oh. This massive increase in exchange rate fit dun discourage people from wanting to invest new Naira into the market and this fit be one of reason the trading volume for Nigeria dey decrease. The bear market also follow but the fact say more money is leaving the market than those coming in also get e impact.

Wetin I dey try talk be say, with increase of a currency, e dey normally encourage selling instead of buying so the more the naira dey increase the more e dey encourage people to cash out instead of buying with the hope of rebuying when market crash. This one come mean say new money no dey enter the market and the average trader dey find am hard to buy into the market due to too much increase in exchange rate. Na the only negative effect I dey see be this.

I see say you bin post am for Bitcoin discussion section of the forum, e still make sense as you carry am come here because the country wey they involved na our very own Nigeria, as e be so the matter they good, but one thing wey i wan talk, though i don already yarn am for your thread for Bitcoin discussion board be say this news no carry Bitcoin name at all, and e no mean say Nigerian government they go adopt or make Bitcoin a legal tender, na only blockchain them yarn for the news and BSV wey be useless coin and e no concern Bitcoin at all. Blockchain technology they broad and them fit apply am for many other fields/sectors other than Bitcoin. Having said that, wetin them wan do they good, and if some of us from this our Bitcointalk Nigerian community fit join for the people wey go undergo this training ehn, e go make sense die.

Nigerian Naira is Drastically Devalued and news came that it is because of the redesigning of the Naira by CBN and those who had stored a lot of money in their houses are depositing the money in the bank and transfering or converting it to dollar for safety.
Will the devaluation of the Naira have bad effect in the Bitcoin exchange market?

We dey rank 11th for BTC friendly contri no mean say we govt go just give go ahead like that to allow e adoption. I don tok am be4 say this pipo no go gree release control like that. Now upon the 5% discount them give to take make sure say d E-naira adoption rate reach evriwia, how far?
 Sometimes make we govt try dey handle matas wey fit help grow we economy and the Naira and not to continually debase am by dia actions and inactions.

You see as them deh expose themselves say they no truly understand wetin bitcoin and blockchain be? Make them continue deh waste our money on eye services. Where the e-naira project deh now? Shebi that one don deh die a natural death small small. Wetin this people deh do deh pain me enter bone. If we talk as e deh bi e go bi like say we like to deh expose our country like that.

Na di truth we all kno like dat but apart from Brainboss nd igehhh who else dey bring or tok about crypto related mata. Me I Kno dey 2 strong or I no dey 2 tight on crypto nd dose pple we supposed tok e no dey tok am nd we dat dey struggle 2 Kno more on crypto kno come kno am well now. So we come dey tok di area we can do well. Wen ever pesin bring crypto matter I dey always suk mouth.
Bt day won no go stand. I go try mi best 2 tok on crypto mata dem well bi like say na der I go learn am well sef. Nd 4rom 2day make everyone dey tok about crypto related mata. Make politics mata go wan corner.

By di way. If Naija govt adopt Bitcoin nd train pipo 4 d ecosystem, na welcome development bi dat. Let dem put it into action not only 4 mouth dem go dey tok.

Dis matter just get as e be. I been think say as dey call off d strike the matter don die be dat oo, which kind life be dis wey we dey see so. Students dey happy dey rush go back school and now dis kind news again, dis news go just demoralized dem again na. Make FG settle dis matter o sharp sharp. our government just com spoil our education sector just lyk dat. What a pity to us all.


Na true say d board don dey active more dan d way he be some months back, maybe many users just realise d board now or new members keep coming in to com contribute for here. I hope dis matter wey you don talk now to dey create more bitcoin related topics for here go serve as a way to get our own local board soon. Bitcoin discussion na him be d main purpose of d forum, if we dey do am here e go make sense to even catch d attention of oda users and supporting each other here as it should be. Many people wey dey support there country people for d forum na for local board dem dey help pass. Make we take dis as guidance to wetin we go dey mostly post for here always. Thanks for all what you do for us in order to get a local board soon Boss.

I agree with CryptopreneurBrainboss, it lies on the older and more experienced members to lead and guide the direction of conversations. If you do not do this, the newer members will feel that what is discussed is in this thread is 90% non-crypto related. Therefore, the onus lies on us to take charge. We shouldn't forget that it adds to what the will be considered when the decision to create our local board is discussed/ considered.