the question is have people stopped using bitcoin.. not have people started using other networks
I have stopped using bitcoin for small transaction but which is not what I will like to talk about directly. That was the reason for my indirectly reply. That people can use bitcoin lightning network, altcoins pegged with bitcoin but which has some disadvantages because it can depeg from bitcoin, or to use altcoins instead. why do some people keep trying t promote other networks while pretending by using other networks they are still using bitcoin
I still use the bitcoin network but for transaction that seem high to me and also that would be when the network is less congested like 30 sat/vbyte or more lower fee rate. other networks ARE NOT BITCOIN, even LN is not
Lightning network can be beyond bitcoin but bitcoin lightning network is about bitcoin stored offchain. It is bitcoin. |
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I just visited today to know I have missed some posts. I think that I mistakenly skipped the notification few weeks ago. Please have been seeing this copper of a thing. What does it really mean I mean copper membership and how can one buy it..
EL MOHA and SmartGold01 are correct. You can also read theymos post about copper membership: Newbies can now pay a small fee to enable images |
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Nominal GDP of African countries In the link above you'll see that the difference between between the nominal GDP of Egypt and Nigeria is very little, but looks at the per capita of those countries. You'll find out that Nigeria has one of the worst per capita among the top countries of the continent. When you consider the fact that inflation in Nigeria is around 30%, you'll realise how bad it is for the people despite the GDP being one of the best in the country. Also when you look at the percentage of people living below the poverty line, you'll see that Nigeria is on 40%, there are reports that show that that figure is around a 70% region, but I'm sticking with Wikipedia. Even that link above is for 2023. This is the current one: https://en.m.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal) Just look for African countries and you will know Nigeria is the fourth. This was yesterday news on Bloomberg: I have just seen this on Bloomberg which was yesterday news. Nigeria’s economy, which ranked as Africa’s largest in 2022, is set to slip to fourth place this year and Egypt, which held the top position in 2023, is projected to fall to second behind South Africa after a series of currency devaluations, International Monetary Fund forecasts show.
The IMF’s World Economic Outlook estimates Nigeria’s gross domestic product at $253 billion based on current prices this year, lagging energy-rich Algeria at $267 billion, Egypt at $348 billion and South Africa at $373 billion. The GDP recently is less than half of what it was in 2014. It is quite unfortunate for Nigeria. |
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@Amphenomenon Your link is for 2023 and not 2024. I am correct about what I posted yesterday. I have just seen this on Bloomberg which was yesterday news. Nigeria’s economy, which ranked as Africa’s largest in 2022, is set to slip to fourth place this year and Egypt, which held the top position in 2023, is projected to fall to second behind South Africa after a series of currency devaluations, International Monetary Fund forecasts show.
The IMF’s World Economic Outlook estimates Nigeria’s gross domestic product at $253 billion based on current prices this year, lagging energy-rich Algeria at $267 billion, Egypt at $348 billion and South Africa at $373 billion. |
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The Nigeria government is reinforcing every solidable means to ensure the currency remained stable when traded towards other developed countries currency, like the exchange rate will be balance just as the dollar. I think they're doing a good job to maintain this new regulated order. As for one of the richest bar man for nigeria, Cubana Chief Priest, he is different from Bob risky wey EFCC sentenced to 6 months for the abuse of the Nigeria naira currency. Na this thing I de make reference to, level de this game. Cubana na 30 GB and we know say dem no de carry last when it comes to handling matters before e go escalates.
It is true that Cubana Chief Priest is more influential but this has nothing to do with naira exchange rate. It is about naira abuse. |
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Should i say i was lucky to no have accepted a proposal of taking me to the US for school of music when i was young? I could remember vividly that my dad rejected an appeal crew from Christ Embassy who were interested in my piano talents at the age of 12. They brought gifts and money for my parents to convince them on the idea. Literally, i was playing for them at their local branch in Port Harcourt. My Dad was scared if human trafficking so he refused the proposal. Sometimes i felt he breached my success but sometimes i still feel he had saved me from the wordt days.
What do you think?
I do not know if you are lucky about it or not but not all that glitters are gold. Your father take the best decision. It is possible that they are child traffickers. This is common in some states in Nigeria but I will not mention it so that some people will not react in a bad way to my post. But if you come from such state, know that it is likely child trafficking. Be it child trafficking or not, that is the best decision a father can make for his child. You can not just give your child to unknown people. If it is family, it is different but they are like strangers and not worth risking at all. |
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Lol, yes, i think the whole bail conditions is stringent to make sure say the defendant go return to court when it is time for the next hearing. Dem also make sure say the defendant submit him international passport, i just think say all these na part of the process.
Do not mind them. Cubana Chief Priest is not going to prison is all what I can see. Sending Bobrisky to 6 month in prison is unfair and not called for. I can see Cubana Chief Priest and Davido together very well. Davido Uncle which is the governor of Osun state now and Davido's father are very powerful and influential people. Also the guy will know a lot more of people but those two people are enough. |
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Board: Societal discussion I downloaded a movie ending of last year, but I did not watch the movie until yesterday. The name of the movie is 'the sound of freedom'. The movie is about child trafficking. People that watched it will learn from it. Although, Whites know how to make a movie emotional but you will know what they acted will actually be a true life story and I was able to link it to a law passed by the United States government in real life. It is a movie that is what watching. Also I can remember a movie that I watched on Netflix a year or 2 years ago called 'Oloture'. One of my best movie of the year in Nigeria as it educated those that watched it about how some people that wants to go abroad got into sex slavery while any of them that wanted to escape was killed. Oloture is worth watching. The reason I created this thread is the news that I read today about someone that is pretending to be a Reverend sister, claimed she was trained in Ghana and also claimed that their headquarters is in Philippines. After she was arrested, she said she met with the parents of the children and told them that their children can follow them to their orphanage homes and that they would be given better care. Let me just continue it with the quote below as I am very tired already today. This is the news: https://punchng.com/naptip-arrests-fake-rev-sister-for-allegedly-trafficking-38-children/He added, “To convince the parents when they were handed over the first batch of the children, he said the suspects asked two of the parents to follow them to know the two orphanage homes the children would stay’.
“32 of the children have been recovered by the agency while six who are between the ages of three and six years old are yet to be recovered
“The suspect claims that three of the six children are in Badagry while the other three are in Ogun State but later said they have been adopted by people in the East.”
He said the agency was still on the trail of the other suspect who is at large and that the suspect would be charged in court as soon as the investigation is concluded.
He warned parents to be vigilant and never trust anybody with their kids without asking fundamental questions.
What surprised me is that this trafficker will go to the victim's parent to convince them. Or they will convince the victim if he or she can make his or her own decision. But later the victim will know that they are into modern slavery. |
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They will need to start from manufacturers to know the retail prices of each products. Then they can go to local markets and supermarket like they want to buy something. Price what they are selling there. We do not want to hear that they lockdown supermarket only but we also want to hear that they lockdown some local market shops. Small size Indomie that was sold between ₦10500 and ₦11500 is now sold between ₦7000 and ₦8500. Someone even told me that is has lessen more in price but I do not know if that is true. So why other products are so still very expensive while some also become more expensive. Imported products had fallen in price significantly but these local products are where wahala dey. We need price control. I blame the government for manipulating naira price which is one of the cause of what is happening now. Inflation is not easy to reverse. When there was persistent rise in price of these local products, they said it is foreign exchanges that was increasing in value as naira was falling in value. They also said diesel caused it. Naira that was sold at ₦1900 to a dollar before is now ₦1130 to a dollar. Diesel that was sold at ₦1900 per liter is now ₦1000 per liter. What is their complaint again this time than greediness. What do you think? and how long will this agency be able to stay corruption free? Because it is not impossible for big supermarkets and stores to begin bribing the officials of this agency to allow them with their illegal prices.
Bribing is possible. |
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Though this shows a positive growth to the economy while things is just still too complicated for we to say it's getting better
All I am seeing is backwardness. In 2014, Nigeria GDP was around $568 billion. $492 billion in 2016. $376 billion in 2016. $477 billion in 2022. $390 billion in 2023. Now at $394 billion. This is not encouraging. |
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You can use lightning network. If you can not setup your own channel, there are some wallets that will provide you an easy way. What you will do is to download the wallet, do backup and start sending and receiving bitcoin. But just for little amount of money.
You can go for those coins pegged with bitcoin price. They are not bitcoin and they may be centralized to some extent. They can also depeg from bitcoin price.
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If the address is not among the addresses generated by your wallet, that means you sent it to someone. Did you not intentionally sent it to someone?
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Nigeria GDP should be around $394 billion. On Statista, the update was on 11th Apr 2024 which was 7 days ago. I think it is accurate. But in short, Egypt is the highest in Africa now but the country has half of the Nigerian population. |
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Land borders were opened during Obasanjo and Goodluck Jonathan time. Buhari came and closed the land borders, saying to encourage local products. Inflation started and naira devalued. GDP decreased also as a result of other bad governance.
Nigeria emerge as the strongest economy in Africa during Goodluck Jonathan time. It was still the highest during Buhari time but the GDB significantly reduced.
Recently, to my surprise, I saw Nigeria as the fourth in Africa with well reducrion in GDP on Wikipedia which is not more than $253 billion. Is this correct?
I went to check the Statista and I saw Nigeria GDP to have declined but not down to $253 billion but $394.94 billion. On Statista, it gives estimation up to 2028 and 2024 has not yet finished which makes me think it could just be a guess work or speculation rather than the real estimated value.
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Using GDP alone to measure an economy might not always be accurate. Per capita income, purchasing power, inflation, etc. If you look at countries like Nigeria their GDP is increasing but the state of the country is getting worse.
To know about economy power, DGP is used. Go and read more about GDP to know what it is. About Nigeria, the GDP the country has in 2014 which was almost $570 billion. It was $441 in 2021. $477 in 2022. $390 in 2023. According to Wikipedia, it has decreased more significantly in 2024. |
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Baba, all these wey dey outlined nah good reasons to call person to order but is there no law against the devaluation of the naira? Or them wan yarn say them no dey guilty of these so called laws them put? Abi them dey run d mata unto say nah who them catch dey face penalty?
According to what I saw online, 6 months in prison or a fine of ₦50000 is the punishment. But read what I posted below. Things such as spraying, hawking, squeezing, writing on the notes, etc, na offence and the punishment be say the offender go spend 6 months in jail or the option of N50k.
Bobrisky was sent to prison for six month without the option of a fine. Cubana Chief Priest was bailed with ₦10 million with 2 sureties. A court case that will lead to ₦5000 fine supposed not to lead to ₦10 million bail I think. This is Nigeria. So this matter no be violation of human rights, Naira mutilation na offence, but plenty people no know before, but now dem know.
I think option of fine is enough. It can be ₦100000 for rich people and ₦50000 for people that are not rich. Most naira mutilation is done more by the masses which are average and poor people. If they want to see naira mutilation, they should go to the market, vulcanizer shop, mechanic and rewire workshop and other places like that. Also the kids are among. I have a nature not to rough books and money since I was a kid but I noticed anyone that I give my book or give money to keep it which I will later collect back, they would have been slightly multilated. This is just part of what is happening in Nigeria that only awareness and some strict actions can be effective against but they are not doing anything than going to celebrities. It has no sense because this can not stop naira mutilation. |
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One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.
I do not believe this or the country that your friend is living is somehow not good at all. If the salary are lower than before, the price of goods supposed not to be increasing. What I noticed in almost all countries, as the price of goods and services are increasing, the salary also will increase in such a way that everything will balanced, but the government do the manipulation for their own good. If you want to know if the global economy is declining, you will need to check the world gross domestic product. If it is higher in total than the previous years, that means the global economy has not declined in value. You can compare 2021, 2022 and 2024 using the data on this link: https://en.m.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal). Click on list of countries by GDP (nominal), scroll down to table and click on it to see it. |
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But how in the world do I swap one Coin or another in the Unstoppable wallet?
Click on the coin that you want to swap. You will see the swap icon which you can click on.  The third icon from the left is the swap icon which I circle in while. You can click on the coin to change it and also click on select to change it to a token you want to swap to on the swap page. |
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There is no country that do not use fiat. Most countries have their own fiat while few countries depend on another country's fiat. Even if some countries start not to believe in fiat, some countries will continue to use fiat as legal tender. But as it is for now, all countries in the world still prefer fiat and see inflation has some advantages.
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The government will only see it as naira note abuse awareness. .Abuse of the Naira
a. Spraying: It is against the law to spray the Naira banknotes at occasions.
b. Writing: It is against the law to write on banknotes.
c. Stapling: It is against the law to staple the banknotes as the pins can cause corrosion of the banknotes.
d. Tearing: It is also against the law to tear the banknotes
e. Soiling: It is against the law to dance/stamp on the Naira banknotes. Do not stain the banknotes with oil or ink, as this is also a form of defacing.
e. Sale: It is against the law to sell currency banknotes.
g. Mutilation: A person who tampers with the Naira note or coin is guilty of an offence, punishable by law (CBN Act Section 21).
h. It is against the law to reject the Naira (Section 20 subsection 5).
Implications I think they are three now. Recently it was Bobrisky. Now it is Cubana Chief Priest. But there is nothing that will stop naira note abuse. Those seen on video were arrested. Or maybe the EFCC has just started. Edit: He has been granted bail for ₦10 million with two sureties in like sum https://punchng.com/breaking-naira-abuse-court-grants-cubana-chief-priest-n10m-bail/ |
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