Re: Dollar increase

Quote from: Samlucky O on Today at 05:09:24 AM

Quote from: MorganaX on January 25, 2024, 08:08:13 PM

The question is Nigeria government responsible for this increase?

Yes Nigeria is the real cause of the problem and because they plan the devaluation of our currency, when they did structural adjustment programs in 1986 where they devalue our currency every week for 32years. You can listen from X vise president prof yemi osibanjor on a speech he made. I saw this yesterday when I was going through my Facebook.

Quote from: MorganaX on January 25, 2024, 08:08:13 PM

and if they are how to we solve this problem and get things back to normal

They have the power to do it but refuse to do it. The only thing I will advice everyone is to invest in bitcoin because that is the only way they can revive the devaluation of the currency. At least personal devaluation not total devaluation.
this is a statistics I have been able to make since December 26 to January 27 being today, on price price change in binance:

so investing in bitcoin or usdt will make you recover some lost amount at do to inflation.

Quote from: MorganaX on January 25, 2024, 08:08:13 PM

But the question I could love to ask is bitcoin and dollar related or does increase in dollar affects bitcoin rates

Bitcoin and dollar is not related. Bitcoin is a digital currency used world wild, while dollar is the currency for the USA. But used as standard curency with pounds and Euro.

Dollar does not affect Bitcoin. Dollar is just like a stable coin while Bitcoin is a volatile currency which change in due time with many factors like demand and supply, Market capitalisation, bull and bear season and market dominance.

How do you expect the government to harness this situation when they cannot even control the problem of low cash flow in Nigeria? Sincerely, the government cannot help us. We, the masses, have been pleading for help not today but a very long time ago, and till now, nothing has been done about it. The better we start paying attention to how we can invest the little we are seeing so that the dilemma of inflation will not fall on us unexpectedly. Let us remove our minds from the problem of the country and find a way to solve the way it affects us individually. Since the president and his cabinet have chosen to become selfish,. I wont blame them because if the same opportunity were given to so many of us here, we would do the same. One man for himself—that is the slogan.