Bitcoin Forum

Wettin be the issue with naija money. Just when I think say things go soon better with the way the currency rate been dey high we now done dey experience depletion of naira this one off me. I for like start start invest in money with the way the economy situation be now man no know if e go even normal again.

While you hoped that all was going to be well as naira was regaining its value and now you've realized that the naira has also become a meme currency which has got you thinking of Investing on financial trading so you can always secure some source of income in the process, why not think about investing on the bitcoin instead of the FX?
I guess you're aware of the current implications of the government again Forex traders being frustrated?

Do well be aware that Investing in the bitcoin would serve you much prospect potentialities. You can imagine you invests on the bitcoin of a volatile currency which values has the possessions to increase and decreases well.
So if only you can buy and hold then in periods of as a long time you decides to sell, you'll be considering the value of your total accumulated bitcoins which proves you've made increase of making profits in your holding and also determining the value of dollar on a P2P which also determines the value of naira over dollar.
Right about it you're taking a sum of advantages on bitcoin and the dollar as well at when exchanging your bitcoin assets to naira.

I think my little explanation would get you twice thinking if you ever thought of investing in the FX.

This is not new. It has been more than a week ago that naira depreciated to 1419 naira. It later fell below 1300 some days ago and fell to almost 1260 naira. The price of naira today is 1315 naira to a dollar.

The CBN is only trying to do what is not. Why should they increase naira value when it supposed not to. Even if they will increase it, from 1800 to 1100 naira is kind of too much. The market later correct itself to 1300 is what that happened.

The price of a currency does not matter. What matters is a stable economy and how the currency price is stable. The government are unable to give us these.

I agree to this , it's not the currency value that  matters but the economy  really matters .
For example let's  take a look at Won,
Won is having  almost the same value  as our currency now besides our currency  was even  far better  than theirs before .
Let's take a look at their economy compared to ours, they have a low valued currency long before us yet they seem to be doing far better than us  why ???

If an economy of a country flourish every other things will fall in place e.g If our economy becomes better and the currency is still weak, wages and salaries  could be increased there by increasing inflow of various individuals, now even if price of goods are high(at least stabled),   individuals should be able to afford it as there's now increase In  their incomes,to balance the spend out shouldn't be a problem.

E go normal but na with time, the thing na say make better presido enter,  sure things go sweet then, but the necessary factor na say our economy bad, who deh in charge na our leaders, so if our leaders lead well and our financial institutions sit up con carry our there activity wella all this things no for deh sup.

Sha as e deh favour them for  some ways, they no really care about citizens and common man for the state, from insecurity to food scarcity, na prayer remain to do for our country.
Make we just continue small small, we be strong people all go pass as far as we deh alive, na who give up fuck up.