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After COVID 19, in early 2022, crude oil price had increased significantly and had gotten to over $100. Since 2015 till today 2024, Nigeria economy has been so bad. In 2022 to this time 2024, standard of living and Nigeria economy has become worse more than before. So there is nothing new about crude oil price increase.
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What are we to expect this pre-halving season...?
What have you seen already? Halving is just some weeks to come. Will bitcoin pump more than $80K to make a new ATH before halving.
No one knows but it is highly likely that bitcoin may increase above $80000 before halving. In just a day, bitcoin can dump $10000 or can add $10000 to its price. So at $71500, it is possible that bitcoin can get to $80000 at any time soon. Will bitcoin drop to $42K as speculated by JP Morgan..?
I do not know about JP Morgan speculation or his analyst. But if it is true that they said bitcoin is going below $50000, you can see how wrong it is. Blackrock holding more bitcoin will it not influence bitcoin pumping if we say bitcoin is affected by supply and Demand...?
As people buy more bitcoin than selling, the price will increase. If Blackrock continues to buy, expect increase. |
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Conclusively, I stand unshaken with my words that Nigeria has the best weather in the World (Unic/Different Weather Seasons like: Raining, Humid/Dry and Sunny)
You still do not understand me. Have you traveled to all the countries in the world that made you make this conclusion? Did you have any methodology used before the conclusion. If you make the research and have an excellent methodology to study the weather in all countries, that should be when you can make this conclusion. |
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africa as a whole has been used and abused by the international community for centuries
everything from international groups stealing agricultural land, displacing natives.. to then mega-farm produce excess food to then throw it at the country as 'aid' to then kill off demand for family run independent farming causing more conflict, unemployment and homelessness which has for decades caused delays in progress.. and thats without discussing the other resource manipulations of the international groups..
i can see why places like nigeria turned down (western)international support because being handed grants/aid for free kills commerce which kills taxation which kills public utility growth
it happened in haiti too after their disasters. when international aid was handing them free solar and free satellite internet. it killed off its own domestic services of energy and communication..
though many people scream their racist calls about US and non-us superpowers. when infact the west failed africa, i can understand why they would try to seek other support. especially when they have more export trade ties to the east anyway(compared to the west) so better to do more deals with the east
.. they need some support to bootstrap the beginning of rebooting infrastructure growth to then be self sustainable
no one can tell if the nigerian-brics deals will operate without corruption and actually start a new era for nigeria. but compared to the status quo of the last few decades, something needs to change
It is true that Africa has been used and abused, but we can have our time now but which our leaders are not concerned about. I do not know what is actually causing this. Everything is not just working. I think if Nigeria leaders are competent enough, we do not need the help of the West or East to build ourselves. That is what we need from the leaders but they know more of politics than economy. Example is in technology which Nigerians are poor at and depend on countries like China and other companies. Importing phones, other devices, cars and other things without producing any. If I tell you that we import common touch lights, light bulbs, grater, most matches et cetera. They are not produced locally. Almost every equipment are made in China. Nigeria need to wakeup. Joining BRICS might help a bit but it has not solved the cause of the issue we have in Nigeria. Also Africa countries needs to think like this. We just want to copy the Whites but not want to do it in our own way. Yet they copied but not getting it right. Everything Africa can need to have economic growth and development is inside Africa but they do not just want to discover anything but sleeping. |
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Nigeria has the best whether you can find anywhere in the World...
Are you sure you have travelled to other countries with good weather? Are you sure you are not that rich kid that his skin always do not touch the sun but few times. Nigeria remains one of the most peaceful country in the world
No. Truths be told to everyone that yes Nigeria is a good/peaceful country to reside
It is not true. Comot joke, comot play, Nigeria is the most blessed country.
Go and read about US, Russia and some other countries and compare it with Nigeria in term of natural resources, agriculture and others Since them born me till now, I never hear say any natural disasters happen for Nigeria wey come take lives, natural disasters like tornado, earthquake volcano eruption...
Natural disaster is not common in Nigeria. The common one is flooding and it has killed few. we get enough natural resources aside crude oil, we get diamonds and other resources, including raw materials for manufacturing companies
No evidence of diamond has been confirmed in Nigeria. |
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Is it multisig wallet? You will need to transfer the partially signed bitcoin transaction to the other wallet(s) to sign it also. Read this guide: https://electrum.readthedocs.io/en/latest/multisig.htmlWhen you click on broadcast (OK), you will see this:  Click on 'share' at the lower left side and you will see: - copy to clipboard
- show as QR code
- save to file
Use any of the three to send the partially sign bitcoin transaction to the cosigner to sign and broadcast the transaction. |
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nigeria didnt get much funding support under the US IMF regime to scale up electric production. however brics has many grant/loan proposal projects(and expertise) which countries can enter into if joining brics. so i can see why they are swinging in brics direction
The problem we have in Nigeria is bad governance and incompetent leadership. Ghana is was estimated to be 32.83 million in population in 2021 and it is generating electricity that is almost three times of the electricity that Nigeria is generating. Yet Nigerians are more in population. In 2021, Nigeria population estimate was over 200 million people. We were supplying Ghana electricity before. But now Ghana said they can supply us electricity if we accept such offer. |
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I don't have the 16 characters, but the thing, I'm still using the same phone. It's just that I'm running iOS 15.8 and the phone wants me to update the app. Should I just go ahead and update and see if the codes are still there?
You mean the 2FA app? You can if you want. |
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Hmm, looking at my old notes here I wrote down a 12-word combination under the title 'ELECTRUM', so I'm pretty sure that's the seed, but you say 16 secret characters? Not words?
The 12 words seed phrase is enough for the recovery if you bypass the 2FA. But if you do not need to bypass the 2FA, you will the 2FA backup code which are 16 characters. Another thing is that if you are able to have access to your wallet and be able to spend from it after the upgrade, just the 2FA can be needed to move all your coins from the wallet. But if you have the seed phrase, you do not need this. Unfortunately, I haven't...
Not unfortunately because it is not secure and not recommended. Best is to backup the backup code offline in two or the different locations. |
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Your problem is not about to upgrade the wallet or not.
Your Google authenticator has stopped working, you can get access to the authenticator back if you have the 16 secret characters that you used to setup the 2FA. Did you backup the 16 secret characters?
All you need is the seed phrase and you know that. If you do not have access to the seed phrase, consider that coin gone.
Edit:
Google 2FA can be back up online. Did you do that? Use your gmail on the phone you used maybe you backup the 2FA online. This is not advisable and not secure, but maybe you did it. The secret codes are best for backup and it should be offline.
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Without joining BRICS, when Buhari was the president, Emefiele which was the Central Bank of Nigeria governor at the time proposed something like this but it died down. He wanted export and import to be in naira and yuan. Maybe joining BRICS might help to achieve this or Nigerian government turn it down and not accept it? Joining BRICS might not be the only solution to the economic recovery of the country but it will contribute to its economic recovery.
Joining BRICS might help a bit but it is not the solution. We have poor electricity supply and many companies moved to neighboring countries or left Nigeria complaining about poor electricity supply. Also the policies the federal government have, do not favour foreign investors which discourage many businesses from foreign investors. Out of 100% of what we are exporting, 75% of it are crude oil and its by-products. Common cars, bikes, bicycle, phone, etc are not made in Nigeria but we continue to remain like this with no technological advancement. Although, this is not the problem of Nigeria alone but the problem of Africa. We need to be more of producer than importing goods is our problem and also able to make researches that will advance the world. |
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Now that there are quite a few solutions for buying or staking cryptos, I was wondering what's the point of going through a CEX when you're not trading. I'm sure there are things I don't know, but I'd love to know all the things that are, perhaps, super interesting.
There is no point in holding your coins on exchanges if you are not trading. Hold it on noncustodial wallet. Exchanges are just for trading and nothing more. Just leave only the trading funds on exchanges at your own risk because any exchange can be hacked. It is not only trading coin pairs that Makes people to use centralized exchanges but also the P2P trading of coins are one of them and the most important factor. If you look at the decentralized exchanges even though it is advisable to use them for privacy sake, Many lack the P2P feature for some lower currencies and that is why top centralized exchanges are still prioritized by the investors. Although this days the integration of P2P features is growing on Decentralized exchanges but they are still behind Centralized exchanges and that’s why people still use them
P2P is also trading. Trading is not the only reason to use CEX as there are some additional services that are offered.
P2P if you want to withdraw to your local currency and there are no options available.
Converting, To convert to altcoin or stable currencies and withdraw to your wallet.
Investing, investment options such as joining a mining pool, lending, or staking
NFT trading, Some NFTs are traded on centralized markets.
low market cap altcoin, Some altcoins do not have a good wallet that you can withdraw to, or you may be thinking of selling them and do not want to withdraw.
Aside from joining a pool, lending and staking, all that you listed are trading and nothing more. You can stake on noncustodial wallet. Not advisable to hold any coins on exchanges, just trade and move your coins to a noncustodial wallet. |
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For now, crypto currency exchange apps still dey work, (from my end here), but me self dey fear say, them fit come for the apps as well.
So, na time to turn to VPN oh, if you dey Nigeria and no Sabi use VPN, or you no know which VPN you fit use wey go dey OK, make you comment for this thread for guidance.
If Nigeria government block all exchanges websites and tells Playstore and App store to remove all the exchanges for Nigerians not to be able to access any of them and also telling the exchanges not to let Nigerians to have access. They can go up to the level that they will be checking this themselves and if any exchanges allow VPN, they will sue the exchange. This is how United States is. Let us just hope that rep investigation will be fruitful for we crypto traders so that exchanges will not be banned finally in Nigeria. |
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Why not just edit that to Pidgin instead. Creating another thread is not necessary. |
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Did you think before that only Binanace website was banned? I have noticed that not only Binanace website you will not be able to access, you can not also access other sites like Bybit, OKX, HTX and others.
I have noticed this before 7th of March since many days ago after Binance website was banned. Other exchanges websites were also banned. |
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Cool more like an api, so there's a connection between the cold wallet and watch only which does it automatically?? Or it would be done manually
You mean the transfer of the PBST and singed transaction? It will be done manually. To know more about it, you can read this Electrum cold storage guide: https://electrum.readthedocs.io/en/latest/coldstorage.html |
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I think the word "cold" in term of storage means free from any form of external connection that is standalone storage .
This same word "cold" would be bridged anytime you want to make transaction as you will change to "Hot" for transaction.
You can make transaction and the wallet will remain as a cold wallet. That is why they are called airgapped. The wallet do not need to go online to make transaction. You will have a watch-only wallet with it which will be used to make PSBT (unsigned) transaction, sent to the cold wallet on airgapped device and be signed by the cold wallet. The signed transaction will be sent to the watch-only wallet for broadcast. |
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There is no helpful guide to how the newbies can avoid scam and hack but you are only advising. If this should be rated, by not giving the necessary information that are most important, you can not get more than 1 out if 5 stars. make we try store am, in a very safe place like a self custodian wallet like electrum, because security na everything in this space.
Electrum is a reputed wallet but it is an online wallet, not recommended for holding huge amount unless you used it on an airgapped device in a way that it is a cold storage wallet. |
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I have just read that Custom Service has increased the dollar to naira rate two times in March. Is it not surprising? Not anymore. This is just 8th of March and the Custom Service has increased foreign exchange rate for clearing imported goods at ports in just less than 24 hours in between. The Central Bank of Nigeria (CBN) has readjusted the official exchange rate on the Customs platform, the second review in less than 24 hours. Data from the federal government trading portal shows that as of Wednesday, March 6, 2024, importers will now pay N1560.511 per dollar for customs duty charges I check the CBN rate just now, although it can take time before it is adjusted but I saw dollar to naira at ₦1590. During the government drama in the parallel market that traders are manipulating the price of naira on exchanges and other trading platforms, CBN said he will be selling to BDC operators at ₦1301, but this would likely have changed also. Our government are not competent to solve the problem in this country. The root causes have not been solved. Crude oil accounts for over 70% of what this country is exporting. When will this change? |
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