This scam is very common. The main cause of it is when the buyer see the product very cheap on the fake site or the scam seller telling him low price. He will be attracted to it and not knowing it is just a scam.

I prefer to use sites like Jumia, Konga or official site like Oraimo for buying something  online. And some of them have pay on delivery which I prefer.

Let me make it big for it to be obviously seen: Dangote further reduces diesel price to ₦1000/litre

Dangote has reduced the price of AGO which we popularly known as diesel from ₦1200 to ₦1000. We can remember that this was sold at ₦1900 some months ago,but which fell to ₦1600.

https://punchng.com/just-in-dangote-further-reduces-diesel-price-to-n1000-litre/

I gave similar explanation here: Nigeria FX reserve dips by nearly $2M. I think you will be able to understand better if you read it.

Let us starts from what is inflation? Inflation is the persistent rise in the price of goods and services. Also another definition of inflation is the declination of money value. So Inflation is the persistent rise in the price of goods and services, leading to declination of money value.  The money is devalued to create a balance so that both local and imported products sellers are going to make profit in a way that everybody will gain. Also the government foreign reserve will not be decreasing and also the government having more capabilities to pay workers etc. So is Cardoso educated as inflation increases but increasing naira value? He turned the definition of inflation upsidedown by increasing the value of naira when inflation in Nigeria increases.

You mean the official rate and the parallel market rate? The official rate stayed long around ₦465 when the parallel rate was around ₦750.  The CBN later make the move of exchange rate unification and the official rate increased to around ₦750 and it got very close to the parallel market. There was no problem like this at the time after the unification. Although, the parallel market later increased more again. But the government are to be blamed for not able to make the rate less volatile. The government manipulated because later the official rate also was increasing as the parallel rate was increasing but they are saying Binance manipulated. They only tell you what they want you to believe.

I read about this like 2 or 3 weeks ago but what was reported was not much more than $1 billion reduction in foreign reserves. But the decrement is increasing and this is not good. Do you not know the federal government are just manipulating the naira price and put it at the price it supposed not to be? This is one of the reasons for the reduction in foreign reserve.

The CBN governor create imbalance in a way that those importing goods and those earning in foreign currencies are the ones losing to increasing inflation in the country. If there is inflation, there supposed to be reduction in naira value, but it is the opposite since few months ago.

This present government are not doing what is right. First, they are still unable to control inflation just like the previous governmens. Second, they are increasing the value of naira when there is persistent rise in price of goods and services which supposed to lead to declination in money value, but it is the opposite.

They are both good wallets with similar features. Mobile Electrum also support features like bumping fee, coin control and others.

Con of Electrum mobile wallet is that customizing fee on it is hard and not accurate as it supposed to be. I wish the fee slider is like how it is on Sparrow which is very accurate while setting the fee rate.

Con of Bluewallet is that it is not lite to load. This may make it frustrating for those that are using small browsing phones with low processor. It is also not supporting passphrase generation but it is supporting passphrase import with seed phrase

The main reason I posted this is to just give you a warning but which I think you are very much aware of. That online wallet are not as safe as cold wallets. It is a mobile wallet, just for small amount of coins.

This is today's news. April 16, 2024.

According to the news, inflation in Nigeria in 2024 is 40% as of March. It was said that electricity tariff may further increases the inflation rate. Also said it is bad for business and that small businesses can lose capital base.

https://www.vanguardngr.com/2024/04/more-pressures-on-pockets-as-food-inflation-rises-to-40

Dollar price has decreased significantly but inflation continues. Let us hope April to the end of the year will be different.

I remember there was a thread similar to this last year.

I use this keyword on search search: invest in your health Bitcointalk naija. And this is what I found:

Your health is your greatest wealth and assets.

Although, it is a long time already which was August 2023. I mean the last post on the thread. But it would have been better if we can be actively discussing something like this on a single thread.

It is good to have this kind of topic because health is wealth.

There are many bitcoin open source wallets. That is the reason I will not recommend Exodus because it is a close source wallet. I do not know if you also mean Electrum bitcoin wallet for Android or you mean Electrum and bitcoin wallet for Android. If it is the later, bitcoin wallet for Android is an open source wallet but does not support seed phrase backup which is the reason I do not like the wallet. You have to backup the encrypted wallet file. Because more wallets work for BIP39, I prefer not to use the wallet. The best bitcoin Android wallets that I have used are Electrum, Bluewallet and Samurai but you will need to go to settings to enable somethings like RBF to make it worth it if you want to use Samurai.

Agbe is a Nigerian and I believe his friend also would be a Nigerian. Nigeria Communications Commission (NCC) has told all network providers to make Nigerians not to be able to access all exchanges when Binance was accused of naira manipulation. Although, Nigerians are able to access the exchanges using mobile apps, but the exchanges can not be accessed through their websites. I use VPN, set it to Netherlands and it worked but I was unable to access it using the IP address. The VPN location should not be set to USA because exchanges that are not registered in US always try to avoid US citizens and US VPN location from accessing them.

16th of February is more than 2 weeks ago now.

The least I saw on Jumia is ₦95000.

There are different resellers on Jumia. I do not think you search for the seller that you bought it from that time. See what that I took on Jumia for Romoss power bank 60000 mah. You can see their different prices from different resellers.



Some people are on Jumia with high prices to scam people just as Nigeria is.

You bought it at ₦73500
The price today is ₦95000
What is the peak price? That is what you did not follow I guess. Let me use ₦105000 that you mentioned
At least it fell 25% in price.

The laptop I am using and the phone that I am using have fallen in price with almost 50% reduction
The pumping machine that I priced has fallen in price more than 50%

According to what I understood from your post, I think you mean government are not. I mean because govt are not regulating the prices of goods in the market.

Yes, that is true. But I think if the government wants accurate deflation, there is need for some regulations this time. I agree with this.

The best are offline wallets like wallet on airgapped devices and like Electrum passport hardware wallet. But be careful of clipboard malware.

Some people can go for multisig. There is a member on this forum that has a passport hardware wallet and using it as 2-of-2 multisig with Sparrow. This is good for holders. It is good if you know what you are doing. I mean knowing the perfect way for recovery and also how to store you seed phrases. Although, generally, you need to protect your seed phrase backup irrespective of the type of wallet.

For online wallets
You can have devices which will have no connection with each other. Be it bluetooth, cable or whatever.
You will disable the app store not to download any app
You will disable the apps not to install any file
You will not use it for downloading
Just for wallet and exchanges purposes
No Whatsapp, no telegram and other social apps. Just for wallet purposes
Use it for small amount of coins.

If tails is not working anymore on your laptop, I think your laptop is getting too old. Or maybe you can try Linux OS like Ubuntu which is also an open source operating system.

Your transaction is supporting RBF. You can bump it on Electrum. If your computer is not working but if you have an Android device, you can do that on the Android device.

You are still using legacy addresses, to save money on fee, be using segwit. Electrum version that are not old are segwit.

Number 8
https://www.naijanews.com/2024/04/14/report-traders-arbitrarily-increasing-prices-of-commodities-fg-tells-nigerians/


This is not hidden at all. Some local product prices increased, while some remain as it was when dollar was around $1900. Imported products has decreased by almost 50% but local products have not fallen that much.

Although, yesterday I read on the news that the price of Indomie has decreased. The smallest size sold between ₦10500 and ₦11500 is now sold between ₦7400 and ₦8000. I do not know if other local products have been decreasing in price also.

Paper wallet will generate you a private key and an address. Because people backup the wallet private key on paper is the reason it is called paper wallet. Although , not necessarily on paper because there are other means that you can backup the wallet offline.

There are HD wallets now and which supposed to let paper wallet to become obsolete means of having bitcoin wallet. If you use HD wallet like Electrum to generate seed phrase on an airgapped device, backup the seed phrase and delete the wallet. That can also be regarded as a paper wallet. I will advice you to go for this one instead.

Am alternative to hardware wallet are wallets on airgapped device like this: https://electrum.readthedocs.io/en/latest/coldstorage.html

The security of your offline wallet (and even online wallets) depends on you. I mean how secure you make it be with the knowledge you have about securing your coins.

1.286 mBTC equals 0.001286 BTC. 0.80379 mBTC equals 0.00080379 BTC.Subtracting it will give 0.00048221 BTC. If Bitcoin is at $64200, that is $30.95 which I think is too much as fee.

I think that should not be because of fee if 1 input and 2 outputs at 51 sat/vbyte is around $4.58 in fee right now as a high priority. But maybe the transaction will have high inputs that can make it as that costly in fee.

What that can happen also that can cause it is if he freezed UTXOs or addressees that contain coins. I will advice the OP to check coins tab for any address freeze and coin freeze.

I also hope so. But no much effect as of now and the government are looking as there is deflation in the country but inflation still exist in local products.

Petrol price did not increase since many months ago and diesel sold at ₦1900 is now sold around ₦1200 to ₦1300.

After the government had manipulated the naira. The government are the cause of what happened but they are also the one looking for solutions. Prevention is better than cure.

Bitcoin is not illegal in China. It is illegal as a currency but legal as a digital property.

Most countries that illegalize bitcoin are Muslims countries. If bitcoin is not legal in countries like Saudi Arabia and Qatar, it is not surprising. Only few countries illegalize bitcoin. I do not think they are more than 14 countries that illegalize bitcoin.

Fiat is used more in money laundering and terrorism financing.

Binance is one of the best exchanges but what I do not like is that some people are saying it as if there are no other one of the best exchanges but there are some other one of the best exchanges that can be used. OKX is a good exchange but be careful not to deposit less than the minimum deposit for bitcoin address which is 0.0005 BTC. The exchange has used this to scam some people, including my friend.

Bluewallet is not having Windows version but it has MacOS version. https://bluewallet.io/desktop-bitcoin-wallet/