Topic: The economy is crawling. Don't be over carried by your huge income (Read 191 times)

This na the time weu we need to mind the way we deu spend money . E no mean say because you deu benefit from dollar and bitcoin that means you need to spend any how you like because of say you deu collect. Price of things dey increase day by day. No one knows how the economy go be after now. E go make sense make person make good plans ahead for the future because the way this our country be this our leaders fit take us by surprise.

My point is that as the economy has fallen so bad for the average citizens to cope with and at the same time the devaluing of our currency Naira which those who even earns hugely with the poor currency can't afford their essential needs and the same time being unable to meet up with most or their financial responsibilities.
Now the the situation of the devalued currency is offering favours to those who are earning with the hard currencies such as those who earns with US dollars, Euros, Pounds and of course those of us Nigerians who has invested in the BTC and has hodled to this point of time when the Bitcoin market is being appreciating of making great incomes shouldn't be carried away to excessive and unnecessary expenses with the excitement that they could have more money or surplus to spend after the exchange of their hard earned currency to the devalued currency Naira.

For someone like me who doesn't have enough BTC to sell, I would advise myself and others like me to maintain how we spend the cash we have, either in our banks or within our pockets. It's very important for us to be mindful of our expenses these days because you can't predict what will happen next. There are a lot of speculations, irregularities, and fluctuating trends in the market, so everybody needs to be careful with their expenditures.

In my honest opinion, I should focus more on income than expenditure, even though, in reality, that's not always feasible. We often find ourselves in situations where we have to spend more than we earn because we don't have many streams of income, and what we do have is already overwhelmed by inflation.

However, we should moderate our spending and cut unnecessary expenditures. Any money we take out of our pockets should serve a meaningful purpose, or else we should reconsider spending it. Additionally, many of us have a habit of helping others before helping ourselves. While it's important to assist others, we should be mindful of our own well-being and not end up worse off in the end.

I de reason where you de come from, because some people wey de privileged to de earn money in stable currencies like dollar, go change di money to naira, and di thing go come plenty for dem hand, so as you talk, make dem no de carried away with di huge money wey go de dem hand. Di purchasing power of di money no go fit to buy wetin di same amount fit buy six months ago, so na for eye and paper naira plenty but wetin im fit buy de reduce everyday. I no know say e go finally reach our own turn, before I de hear about Ghana, currency as di money no worth anything, dat time wetin one hundred naira go buy na more dan one thousand for dem currency.

Op the idea of say make people they careful with the way them dey spend their Bitcoin na very necessary thing wey we suppose dey remind ourselves about as e be say the main purpose of Bitcoin investment na when you hold for long naim you go fit happy dey reap your profit. But with the way thing dey be for we country, I no go fit blame anybody again, because na only who survive naim go fit invest of reap investment profit. But that one no mean say person no go use em head if e get enough oo. Now adays people dey minimize your luxurious lifestyle because of the way things don be.

I am not in dispute to your opinion @Hatchy, the thing is that every other person's too are entitled to their opinions.
And if our economic related issues must have been discussed here, I am definitely not saying that I haven't been aware that it does. But comparing to the contexts of the economy discussion being brought to this board, I really do not think such like this has ever existed.
In the economy board, it is strickly economy discussion being brought up there so as other boards are strickly on what it is designed for and such is what is tended to be discussed there.

As for the LB, we haven't been granted the appealing of the childs board where most of the discussions here would had been situated at where they are fitted in.
So, it is assumed that for now, it should be of a general discussion board but that doesn't mean that users should flood the board with unwanted or irrelevant section of discussions.
It is aware that this platform was generally structured for Bitcoin discussion but it was found necessary if other necessary section of discussions could also be brought in.
Meanwhile... If you may have read all long the thread,  it basically discusses about our economy, talks about how we could utilize our golden opportunities considering the nature of the economic system which stamps threats that the welfare in the future is not certain so, it is an encouraging threads for individuals to foresee financial management a strategy to either beat inflations and also secures a better bankroll as much Bitcoin Investors not to feel relented that they have beaten the devalued of our naira on the fact that they earns their incomes on a hard currency that is not affected by our devalued currency which is contributing to the falling of our economy.

From the leadership of Buhari and presently Tinubu as president, Nigeria being the giant of Africa is no more it has fallen. Nigeria was a pride of the continent but it has nothing to offer again the economy has fallen and the cost of living is on the highest level in the country. Nigeria according to some scholars in the country was a falling state but right now it has finally a failed state. I don't know who can revive this economy to the normal way when Goodluck was the president of the country when dollar was exchanged with #150 to a $1.

The only solution to dis problem n to embark on a very serious protest that most of the top politicians families should be eliminated so dat they will know that we are angry to the core. Dis no be time to pampy them but with a radical approach.

And I never said you did.
I understand that you have the interest of the board at heart but on the other hand, different people have different perspective and viewpoint about things, if you check most of those threads you consider to spam, you'll in one way or the other learn a thing or two from each of them. Again, some of those threads are buried beneath other threads on the board and we know that it's not everyone that has the luxury of scrolling all the way down just to look for a topic when there are other topics you can talk about above. This could be menacing if the likes of this topic is flooding the whole board but we know that's not the case here.

What @hatchy is saying is right, instead of littering the local board with the issue of our economy, they should create a single thread where everyone can go there and air his or her view, including solutions, just as the African nations cup or premier league thread in the gambling section of the forum.

This is good observation I don't stand to condemn op but seek to join in redressing base on the facts that we have economy group and others that has more dealing with economy, his post would have more appreciated on those groups. Let us avoid any thing that make us feel the leader or members of the forum hate you or delete your comment or post, because situation where one totally deviate from the rule may leads to such.

Don't blame anyone creating threads about the country's economic conditions, because take a look around you and see if there's anything else that's more important than this pressing matter now, I mean what else should we be talking about? The country is in chaos and you wanna be talking about something else, c'mon, just look at the way the naira is crashing down the dollar and you still think there's still something else worth talking about. everyone is talking about how well Bitcoin is doing on the Bitcoin Discussion Board and yet it's not considered as spamming the board, so why would you consider people talking about the most important and pressing issue in Nigeria as spamming the Nigerian Board. I'll completely disagree with you.

Do we all really need to start creating threads about the economy I've noticed for the past few days now, there's been many post about the economic state of the country which Im now considering as spamming. If you do have something to add about the bad economy of the country, you should just make your comment on other threads. Please we should be wise enough to know this.

This one was just created hours ago and I see little difference from yours.
Nigeria and the Current State of its Economy

Our dear once a fast growing economy that used to be the pride of its citizens has become a mockery to the other nations that has been behind us.
It might not be true but it seems like every other countries are overtaking our national economy that even our youth are migrating to nations that we were ought to be better than for survival, humanitarians and of course infrastructures.
Just of recent, the youths of Oyo State hits the capital city  Ibadan in protest of high cost of living. https://punchng.com/breaking-ibadan-residents-protest-high-cost-of-living/

This should be a national shame pointing at our leaders but they would consciously play deaf, dumb and blind over it.
Instead of our leaders emulate good what would encourage the growth of our economy, what they looks up out there is ascending corruptible governance in the country. The value of the US dollar has hit the naira #1,700 again devaluing our naira.

The confidence of the rest of us as a result of what the country has turned into lies on those who earns on hard currencies such as the dollar and those of us who capitalizes our income on Bitcoin.

However, my advice to us is that we shouldn't be so excited that as the value of our naira depreciates, so we counts more profitable advantages since we could depend our incomes on the Bitcoin currency.  Yeah we are in the mode of the bull-run which we are appreciating the current volume is the market but let's not forget that this Bitcoin industry are also potential to hit deflation where we would frown at the market volume some days.
So, let's not be carried away at this point of time so, it is advisable to cut our costs and be mindful of how we spends our funds.

Things hard things hard for the country and e no reach you, one dey e go reach you if you no dey careful.