Nipate
Forum => Kenya Discussion => Topic started by: gout on January 11, 2018, 12:13:45 PM
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I supported the concept of cryptocurrency and blockchain from day one but have been opposed to investing in it on fears of greater fool thesis. However, having followed the trend of bitcoin and the decreasing role of govt and the establishment as confirmed by Trump i think the crypto are going nowhere. In Africa this is the perfect avenue for corrupt politicians to hide their wealth with no prying eyes of big brother. With increase in drugs, crime crypto can only grow.
I am seeing a friend of mine today who is running training in Nairobi to make final decision. Unless am convinced otherwise, I will start by investing small amounts in the trash coins - Po.et, New YorkCoin.
What are your experiences so far?
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I supported the concept of cryptocurrency and blockchain from day one but have been opposed to investing in it on fears of greater fool thesis. However, having followed the trend of bitcoin and the decreasing role of govt and the establishment as confirmed by Trump i think the crypto are going nowhere. In Africa this is the perfect avenue for corrupt politicians to hide their wealth with no prying eyes of big brother. With increase in drugs, crime crypto can only grow.
I am seeing a friend of mine today who is running training in Nairobi to make final decision. Unless am convinced otherwise, I will start by investing small amounts in the trash coins - Po.et, New YorkCoin.
What are your experiences so far?
Very good so far (i.e. I got into VeChain @ $1.76 two weeks ago and yesterday it pumped up to $6.82, now stable at about $6. Not a bad income while surfing pornhub). But be very careful as there are a lot of scam coins/tokens out there (even local ones popping up like nurucoin.com (https://www.nurucoin.com/), although to be fair, even though I would never invest with them, it's no proof that they're a scam...make up your own mind).
My advice? DYOR (Do Your Own Research) and I mean really seriously do it. You'll find people shilling tons of useless coins and tokens. Remember, for every single dollar you make (lose) someone somewhere loses (wins). Don't take anybody's word, even with the training you're planning to attend. Research, read the whitepapers, and weigh your options! Another thing, control your emotions. You'll come across FOMO (Fear Of Missing Out) which can cause you to throw your life savings into a Pump & Dump scheme and FUD (Fear, Uncertainty, Doubt), which can cause you to dump a perfectly legitimate coin/token just because of a small temporary dip. Think long term.
Start off by following this guy on reddit. He's got very good advice as shown on this thread he posted:
My Scouting Methodlogy, General information, and keeping this place Clean - Ask questions in here! (https://www.reddit.com/r/LargeSnorlax/comments/7ny1fr/my_scouting_methodlogy_general_information_and/)
A general warning about reddit; you'll find tons of subreddits, one or more for each coin. Take everything with a grain of salt (not the SALT coin :D).
Good luck and hope to meet you at DT Dobie soon. :D :D :D :D
Edit: One more very important thing I didn't mention. You'll need to diversify your portfolio. Don't put all your eggs into one basket. How you diversify is entirely up to you.
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I won't touch with a ten foot pole. Just buy a plot somewhere in Mavoko and relax. If you've got money to burn - why not even buy a plot down at Lamu or Malindi or Isiolo :)
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I won't touch with a ten foot pole. Just buy a plot somewhere in Mavoko and relax. If you've got money to burn - why not even buy a plot down at Lamu or Malindi or Isiolo :)
Because Crypto is flying, and it avoids the crazy land cartels of Kenya. I'd sooner swim with Crypto sharks and whales than feed the Kenyan cartel any day.
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I supported the concept of cryptocurrency and blockchain from day one but have been opposed to investing in it on fears of greater fool thesis. However, having followed the trend of bitcoin and the decreasing role of govt and the establishment as confirmed by Trump i think the crypto are going nowhere. In Africa this is the perfect avenue for corrupt politicians to hide their wealth with no prying eyes of big brother. With increase in drugs, crime crypto can only grow.
I am seeing a friend of mine today who is running training in Nairobi to make final decision. Unless am convinced otherwise, I will start by investing small amounts in the trash coins - Po.et, New YorkCoin.
What are your experiences so far?
Very good so far (i.e. I got into VeChain @ $1.76 two weeks ago and yesterday it pumped up to $6.82, now stable at about $6. Not a bad income while surfing pornhub). But be very careful as there are a lot of scam coins/tokens out there (even local ones popping up like nurucoin.com (https://www.nurucoin.com/), although to be fair, even though I would never invest with them, it's no proof that they're a scam...make up your own mind).
My advice? DYOR (Do Your Own Research) and I mean really seriously do it. You'll find people shilling tons of useless coins and tokens. Remember, for every single dollar you make (lose) someone somewhere loses (wins). Don't take anybody's word, even with the training you're planning to attend. Research, read the whitepapers, and weigh your options! Another thing, control your emotions. You'll come across FOMO (Fear Of Missing Out) which can cause you to throw your life savings into a Pump & Dump scheme and FUD (Fear, Uncertainty, Doubt), which can cause you to dump a perfectly legitimate coin/token just because of a small temporary dip. Think long term.
Start off by following this guy on reddit. He's got very good advice as shown on this thread he posted:
My Scouting Methodlogy, General information, and keeping this place Clean - Ask questions in here! (https://www.reddit.com/r/LargeSnorlax/comments/7ny1fr/my_scouting_methodlogy_general_information_and/)
A general warning about reddit; you'll find tons of subreddits, one or more for each coin. Take everything with a grain of salt (not the SALT coin :D).
Good luck and hope to meet you at DT Dobie soon. :D :D :D :D
Edit: One more very important thing I didn't mention. You'll need to diversify your portfolio. Don't put all your eggs into one basket. How you diversify is entirely up to you.
Good advice. Tukutane DT Dobie. I had a fantastic christmas thanks to Verge..... I got in at 0.0004....Just waiting for $1 and I retire. So much for land in Mavoko...lol
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I supported the concept of cryptocurrency and blockchain from day one but have been opposed to investing in it on fears of greater fool thesis. However, having followed the trend of bitcoin and the decreasing role of govt and the establishment as confirmed by Trump i think the crypto are going nowhere. In Africa this is the perfect avenue for corrupt politicians to hide their wealth with no prying eyes of big brother. With increase in drugs, crime crypto can only grow.
I am seeing a friend of mine today who is running training in Nairobi to make final decision. Unless am convinced otherwise, I will start by investing small amounts in the trash coins - Po.et, New YorkCoin.
What are your experiences so far?
All good points, although I hope you are aware that online streaming etc really took off due to porn? I say that to say this, it's normally the black market that delivers to the mainstream certain tech.
I am vouching for privacy coins purely because I strongly believe that my money is my money to do whatever I want with. So if a drug dealer feels the same then the authorities need to find better ways of ensuring drugs trade doesn't fly.
I'd advise buying the likes of SIA, ADA, Verge, Electroneum.... coins with real world application. Ripple too is not too bad..it will soon rocket to $6 maybe even 10. The establishment will now struggle to contain crypto. I can't wait for the wallstreet money to arrive, so far crypto is fueled by enthusiast's money and early adopters and even that is close to a trillion dollars.
I understand that there are millions of folk waiting to join exchanges... 2018 is the year of Crypto and blockchain.
Looking back at 2017, blockchain would have secured our election. I dare not suggest how in this post Msando age though.
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I supported the concept of cryptocurrency and blockchain from day one but have been opposed to investing in it on fears of greater fool thesis. However, having followed the trend of bitcoin and the decreasing role of govt and the establishment as confirmed by Trump i think the crypto are going nowhere. In Africa this is the perfect avenue for corrupt politicians to hide their wealth with no prying eyes of big brother. With increase in drugs, crime crypto can only grow.
I am seeing a friend of mine today who is running training in Nairobi to make final decision. Unless am convinced otherwise, I will start by investing small amounts in the trash coins - Po.et, New YorkCoin.
What are your experiences so far?
All good points, although I hope you are aware that online streaming etc really took off due to porn? I say that to say this, it's normally the black market that delivers to the mainstream certain tech.
I am vouching for privacy coins purely because I strongly believe that my money is my money to do whatever I want with. So if a drug dealer feels the same then the authorities need to find better ways of ensuring drugs trade doesn't fly.
I'd advise buying the likes of SIA, ADA, Verge, Electroneum.... coins with real world application. Ripple too is not too bad..it will soon rocket to $6 maybe even 10. The establishment will now struggle to contain crypto. I can't wait for the wallstreet money to arrive, so far crypto is fueled by enthusiast's money and early adopters and even that is close to a trillion dollars.
I understand that there are millions of folk waiting to join exchanges... 2018 is the year of Crypto and blockchain.
Looking back at 2017, blockchain would have secured our election. I dare not suggest how in this post Msando age though.
Agreed, porn decided the VHS/Betamax, DVD, the Blu-ray, etc. It's a very powerful industry.
I'm also in EOS, ADA, WTC and NEO (which I think will hit $300-$400 from the current ~$112 by EOY 2018...I got in at $58). Verge (XVG) is a straight out scam, no working project and a joke of a whitepaper. It might go up again after the recent massive crash but I doubt it. I'd advise you to really look into it.
The problem child is Ripple (XRP), which completely goes against what decentralization stands for. Please read up on it a wee bit more and realize what it's all about. It's being run by the establishment (http://hivergent.com/you-shouldnt-invest-in-ripple-and-not-because-its-a-scam/).
An ICO I like the idea of is BABB (https://getbabb.com/) although I generally avoid ICO's (no history, graphs, etc.). Let's see...
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I supported the concept of cryptocurrency and blockchain from day one but have been opposed to investing in it on fears of greater fool thesis. However, having followed the trend of bitcoin and the decreasing role of govt and the establishment as confirmed by Trump i think the crypto are going nowhere. In Africa this is the perfect avenue for corrupt politicians to hide their wealth with no prying eyes of big brother. With increase in drugs, crime crypto can only grow.
I am seeing a friend of mine today who is running training in Nairobi to make final decision. Unless am convinced otherwise, I will start by investing small amounts in the trash coins - Po.et, New YorkCoin.
What are your experiences so far?
All good points, although I hope you are aware that online streaming etc really took off due to porn? I say that to say this, it's normally the black market that delivers to the mainstream certain tech.
I am vouching for privacy coins purely because I strongly believe that my money is my money to do whatever I want with. So if a drug dealer feels the same then the authorities need to find better ways of ensuring drugs trade doesn't fly.
I'd advise buying the likes of SIA, ADA, Verge, Electroneum.... coins with real world application. Ripple too is not too bad..it will soon rocket to $6 maybe even 10. The establishment will now struggle to contain crypto. I can't wait for the wallstreet money to arrive, so far crypto is fueled by enthusiast's money and early adopters and even that is close to a trillion dollars.
I understand that there are millions of folk waiting to join exchanges... 2018 is the year of Crypto and blockchain.
Looking back at 2017, blockchain would have secured our election. I dare not suggest how in this post Msando age though.
Agreed, porn decided the VHS/Betamax, DVD, the Blu-ray, etc. It's a very powerful industry.
I'm also in EOS, ADA, WTC and NEO (which I think will hit $300-$400 from the current ~$112 by EOY 2018...I got in at $58). Verge (XVG) is a straight out scam, no working project and a joke of a whitepaper. It might go up again after the recent massive crash but I doubt it. I'd advise you to really look into it.
The problem child is Ripple (XRP), which completely goes against what decentralization stands for. Please read up on it a wee bit more and realize what it's all about. It's being run by the establishment (http://hivergent.com/you-shouldnt-invest-in-ripple-and-not-because-its-a-scam/).
An ICO I like the idea of is BABB (https://getbabb.com/) although I generally avoid ICO's (no history, graphs, etc.). Let's see...
Thanks for the BABB tip. I'm reading the white paper. I am liking the idea alot.
As for Verge, I read their white paper last summer and I liked their idea. I still believe in them, McAfee just stitched them up with that minor scandal in Dec. With the launch of wraith I see Verge hitting 1Usd in 2018. What they lack is a sleek marketing machine.
I agree with you on Ripple, being a centralised crypto. I am still not sold on the periodic release of new coins onto the market. I missed both EOS and WTC. Might still get hold of a few EOS though. I tend to hold a minimum of 10k of a specific coin which limits the max I am ready to pay for a coin.
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Thanks for the BABB tip. I'm reading the white paper. I am liking the idea alot.
As for Verge, I read their white paper last summer and I liked their idea. I still believe in them, McAfee just stitched them up with that minor scandal in Dec. With the launch of wraith I see Verge hitting 1Usd in 2018. What they lack is a sleek marketing machine.
I agree with you on Ripple, being a centralised crypto. I am still not sold on the periodic release of new coins onto the market. I missed both EOS and WTC. Might still get hold of a few EOS though. I tend to hold a minimum of 10k of a specific coin which limits the max I am ready to pay for a coin.
Tip: Have a look at VeChain, currently at about $5.50. Jim Breyer of Breyer Capital (https://breyercapital.com/) (Worth something like $3b and was one of the first Venture Capitalists to invest in facebook in 2005 (https://www.forbes.com/profile/jim-breyer/)) invested in them (http://) (check under crypto). In his own words: https://www.quora.com/Which-cryptocurrency-should-I-invest-in-in-2018-Why/answer/Jim-Breyer
VeChain has also partnered with Price Waterhouse & Coopers (https://www.pwccn.com/en/press-room/press-releases/pr-150517.html).
At $5.50, this coin is seriously undervalued. I foresee end of year a minimum of $100-$200, especially after their re-branding on 26.02.2018.
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Fear of missing out (FOMO) is driving these cryptos.
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Fear of missing out (FOMO) is driving these cryptos.
But of course. That's very obvious.
Every new innovation is always driven by fear of missing out. Just think of early car makes, TV's, HiFi's, and so on. As an example just look at the start of the PC revolution, what with Amiga, Commodore, Sinclair, the BBC Micro, etc. Let's not forget the Dot Com era. Where are they today? I could go on and on but I guess you get the point. Same with cryptos. Only the strongest will survive (I have no idea which those will be).
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Inside Telegram’s ambitious $1.2B ICO to create the next Ethereum
https://techcrunch.com/2018/01/15/inside-telegrams-ambitious-1-2b-ico-to-create-the-next-ethereum/ (https://techcrunch.com/2018/01/15/inside-telegrams-ambitious-1-2b-ico-to-create-the-next-ethereum/)
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Feedback from my interactions with those into it in Nairobi. First there are what they are calling tokens which is what most late entries are being led into. This requires time investment just like online forex trading. These token creators are offering mainly funny services so those who buy they services buy through such token similar to what telegram is trying. Then you track which trash coin is expected to rise in next few hours, days, months, years and decades. Which markets is it trading in- you avoid such as Yobit run by Russians. Then long winding process of converting to bitcoin.
The real coins train has left the station. Very few can afford the bitcoin and ethereum in volumes that would make speculation sense unless likes of Ruto and Sonko looking for ways to hide stolen loot. The fact that the amount owned by Kenyans is known makes one wonder how anonymous this blockchain is in Africa where a few calls can unveil all covers of who an ICC witness in a safe house is.
Verdict: Only trainers and consultants are assured of sleeping like babies. With likes of Mucheru indicating they reaped from Bitcoin the trainers and consultants will be having a boom year. Once I overcome my silly moral convictions I could be joining this gravy train.
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You can make good money off Bitcoins, but you must have bought it a year ago
https://www.marketwatch.com/story/to-make-money-on-bitcoin-and-blockchain-learn-how-to-trade-2018-01-12
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Feedback from my interactions with those into it in Nairobi. First there are what they are calling tokens which is what most late entries are being led into. This requires time investment just like online forex trading. These token creators are offering mainly funny services so those who buy they services buy through such token similar to what telegram is trying. Then you track which trash coin is expected to rise in next few hours, days, months, years and decades. Which markets is it trading in- you avoid such as Yobit run by Russians. Then long winding process of converting to bitcoin.
The real coins train has left the station. Very few can afford the bitcoin and ethereum in volumes that would make speculation sense unless likes of Ruto and Sonko looking for ways to hide stolen loot. The fact that the amount owned by Kenyans is known makes one wonder how anonymous this blockchain is in Africa where a few calls can unveil all covers of who an ICC witness in a safe house is.
Verdict: Only trainers and consultants are assured of sleeping like babies. With likes of Mucheru indicating they reaped from Bitcoin the trainers and consultants will be having a boom year. Once I overcome my silly moral convictions I could be joining this gravy train.
The best thing to do is research all by yourself. Do not listen to folks, especially those in Kenya. Always remember that little knowledge is deadly.
Right now is probably a good place to enter. The entire market has lost more than 50% of it's value over the last 48 hours. It's a bloodbath. I have utilised it to increase my portfolio and expand it's footprint. Hopefully over the next few days/weeks the market will recover and move forward fast.
I hear there are many waiting to join the exchanges.
All the best.
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Inside Telegram’s ambitious $1.2B ICO to create the next Ethereum
https://techcrunch.com/2018/01/15/inside-telegrams-ambitious-1-2b-ico-to-create-the-next-ethereum/ (https://techcrunch.com/2018/01/15/inside-telegrams-ambitious-1-2b-ico-to-create-the-next-ethereum/)
I think I will join this when the time comes. Telegram will leapfrog whatsapp with this one move.
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Inside Telegram’s ambitious $1.2B ICO to create the next Ethereum
https://techcrunch.com/2018/01/15/inside-telegrams-ambitious-1-2b-ico-to-create-the-next-ethereum/ (https://techcrunch.com/2018/01/15/inside-telegrams-ambitious-1-2b-ico-to-create-the-next-ethereum/)
I think I will join this when the time comes. Telegram will leapfrog whatsapp with this one move.
A whopping 14% goes to developers. Good opportunity there for some people.
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I don't get it...
Robina, please explain this. So is it worth the amount of power wasted to generate cryptos?
https://www.theguardian.com/technology/2018/jan/17/bitcoin-electricity-usage-huge-climate-cryptocurrency
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Feedback from my interactions with those into it in Nairobi. First there are what they are calling tokens which is what most late entries are being led into. This requires time investment just like online forex trading. These token creators are offering mainly funny services so those who buy they services buy through such token similar to what telegram is trying. Then you track which trash coin is expected to rise in next few hours, days, months, years and decades. Which markets is it trading in- you avoid such as Yobit run by Russians. Then long winding process of converting to bitcoin.
The real coins train has left the station. Very few can afford the bitcoin and ethereum in volumes that would make speculation sense unless likes of Ruto and Sonko looking for ways to hide stolen loot. The fact that the amount owned by Kenyans is known makes one wonder how anonymous this blockchain is in Africa where a few calls can unveil all covers of who an ICC witness in a safe house is.
Verdict: Only trainers and consultants are assured of sleeping like babies. With likes of Mucheru indicating they reaped from Bitcoin the trainers and consultants will be having a boom year. Once I overcome my silly moral convictions I could be joining this gravy train.
The best thing to do is research all by yourself. Do not listen to folks, especially those in Kenya. Always remember that little knowledge is deadly.
Right now is probably a good place to enter. The entire market has lost more than 50% of it's value over the last 48 hours. It's a bloodbath. I have utilised it to increase my portfolio and expand it's footprint. Hopefully over the next few days/weeks the market will recover and move forward fast.
I hear there are many waiting to join the exchanges.
All the best.
Bryan
Don't enter yet.. They've more room to come down..
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I don't get it...
Robina, please explain this. So is it worth the amount of power wasted to generate cryptos?
https://www.theguardian.com/technology/2018/jan/17/bitcoin-electricity-usage-huge-climate-cryptocurrency
Without reading the link yes it is. As a rule of thumb money is equal to goods produced or work done. That's why inflation occurs when the Fed arbitrarily prints more money.
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Feedback from my interactions with those into it in Nairobi. First there are what they are calling tokens which is what most late entries are being led into. This requires time investment just like online forex trading. These token creators are offering mainly funny services so those who buy they services buy through such token similar to what telegram is trying. Then you track which trash coin is expected to rise in next few hours, days, months, years and decades. Which markets is it trading in- you avoid such as Yobit run by Russians. Then long winding process of converting to bitcoin.
The real coins train has left the station. Very few can afford the bitcoin and ethereum in volumes that would make speculation sense unless likes of Ruto and Sonko looking for ways to hide stolen loot. The fact that the amount owned by Kenyans is known makes one wonder how anonymous this blockchain is in Africa where a few calls can unveil all covers of who an ICC witness in a safe house is.
Verdict: Only trainers and consultants are assured of sleeping like babies. With likes of Mucheru indicating they reaped from Bitcoin the trainers and consultants will be having a boom year. Once I overcome my silly moral convictions I could be joining this gravy train.
The best thing to do is research all by yourself. Do not listen to folks, especially those in Kenya. Always remember that little knowledge is deadly.
Right now is probably a good place to enter. The entire market has lost more than 50% of it's value over the last 48 hours. It's a bloodbath. I have utilised it to increase my portfolio and expand it's footprint. Hopefully over the next few days/weeks the market will recover and move forward fast.
I hear there are many waiting to join the exchanges.
All the best.
This!
Very good advice, especially not listening to other folks.
I've also being doing the same, snapping up cheap coins and building up my portfolio.
On Mucheru, don't forget he was an early investor in Bitpesa at a time when BTC was worth peanuts.
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Interesting read though its details made me dizzy
https://www.nytimes.com/2018/01/16/magazine/beyond-the-bitcoin-bubble.html
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It's been a tough few days in the markets... wololo. Hopefully fellow crypto fellas and girls are ok. Things will ease up. This is the slow down before the rocket launches.
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Depending on your feelings about Bitcoin, it may seem appropriate that Nigeria’s love for the cryptocurrency began with a scam. Mavrodi Mondial Moneybox (MMM), a 30-year-long global Ponzi scheme that began in Russia, roped in millions of Nigerians from late 2015 to the end of 2016 with promises of 30 percent returns in as little as 30 days. When the government began to crack down on bank accounts linked to the scheme, MMM’s operators cut the banks out and started requiring victims to use Bitcoin. By the time MMM suspended its payouts, shortly before Christmas 2016, it had robbed an estimated 3 million people in Nigeria—where the per capita annual income is less than $3,000—of $50 million.
It had also convinced many of them that, the scam notwithstanding, Bitcoin was the future. “It was MMM that made Nigerians understand how Bitcoin worked,” says Lucky Uwakwe, co-founder of Blockchain Solutions Ltd., a cryptocurrency consulting firm in Lagos. Today, Nigerians are trading about $4.7 million in Bitcoin a week, Uwakwe says, up from about $300,000 per week a year ago. That’s No.?23 globally, according to researcher CryptoCompare—far below the more than $1 billion traded daily in U.S. dollars or Japanese yen, but comparable to the volume of activity in Chinese yuan or Indian rupees. “The growth has been crazy,” says David Ajala, who runs NairaEx, one of about a dozen digital currency exchanges in Nigeria. “It took us two years to get 10,000 customers. Within the last year, we’ve added 90,000.”
More from Bloomberg.com: Senate at Impasse as Votes Delayed Until Monday: Shutdown Update
The scams have kept pace. Phony traders have flooded Nigeria’s cryptocurrency exchanges, messaging apps, and even the streets of Lagos and other cities, promising people fast money and disappearing once they’ve taken theirs. “A lot of people have had their fingers burned,” says Adeolu Fadele, founder of the Cryptographic Development Initiative of Nigeria , a group that aims to educate regulators and the public about digital currency.
The scams follow a pattern familiar to anyone who’s ever received a message from a supposedly beleaguered Nigerian prince: The target is asked to wire over naira, the local currency, in exchange for Bitcoin. In some cases the scammer uses the name and photo of a real dealer and creates a trading profile on a local exchange that’s good enough to pass a cursory background check, a technique known as cloning. Others will make an offer not of Bitcoin, but of “billion coin” or some other nonexistent cryptocurrency. “Everybody I know has been scammed in one way or another,” says Bashir Aminu, a digital-security expert and Bitcoin enthusiast in Lagos.
More from Bloomberg.com: One of the World’s Hottest Stocks Is Now Tumbling
So Nigeria, unlike other Bitcoin hubs, has begun to develop informal groups of traders who take an old-school approach to verifying transactions. After several friends of Aminu’s lost thousands of dollars to scammers between them, they set up an informal exchange on the messaging app Telegram, trading among themselves. When other friends sought to join the group, Aminu would review their identification and banking documents—comparing passports and papers with the faces in front of him. Sometimes he’d even act as a trusted broker, holding a buyer’s money in escrow until the seller came through with the Bitcoin transfer. Over the past year, he says, his group has grown to almost 800 members. There are dozens of similar networks, Aminu says, with varying degrees of security procedures. Some arrange face-to-face meetings in homes, the backs of small shops, and other private places, where a buyer hands over hard cash and watches the seller make the Bitcoin transfer on a smartphone.
This sort of facilitator is essentially a digital aboki, the kind of black-market money-changer who lurks outside high-end Nigerian hotels to swap plastic sacks full of weather-beaten naira for stacks of $100 bills and euros. As these informal Bitcoin-centric networks grow and multiply, Aminu says, they’re increasingly populated by people who trade digital currency as a full-time occupation. Because of all this informal trading, the size of Nigeria’s market is probably much bigger than what the public exchanges report, says Uwakwe, the consultant.
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Aminu says the occasional scammer still sneaks into his Telegram network, and he recently booted more than 100 people he deemed untrustworthy. For many, the potential profit is too good to pass up, says “Ambassador” Smart Oluwadola, a cryptocurrency peddler in Kano, a desert city in the north. In August a friend persuaded Oluwadola to ditch a job hawking health supplements for a suspiciously pyramidal Philippine “business club” and buy a couple hundred dollars’ worth of Bitcoin. Now he’s an evangelist, with thousands of dollars’ worth, a local radio ad urging others to buy Bitcoin, and a series of investing seminars at a local hotel. “If you don’t take a risk, you can’t get anything,” he says. “And if it’s going to be the future of currency, then you better start now.”
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Central Bank warns investors against Bitcoin
https://www.standardmedia.co.ke/business/article/2001267065/bitcoin-is-a-bubble-avoid-it-warns-central-bank-of-kenya (https://www.standardmedia.co.ke/business/article/2001267065/bitcoin-is-a-bubble-avoid-it-warns-central-bank-of-kenya)
I guess Parkerpen and Pastor vooke are the big investors.
Recently, Citibank analysts estimated that Kenya’s bitcoin holdings were about 2.3 per cent of the gross domestic product (GDP) or the annual national output, making it among countries with the largest bitcoin holdings.
As of 2016, Kenya’s GDP stood at Sh7.1 trillion. This means Kenyans have risked about Sh163.3 billion in this cryptocurrency. Such money is enough to run the ministry of Health for about three financial years.
Citi survey estimates that the largest bitcoin holdings as a percentage of GDP are in Russia (five per cent), New Zealand and Nigeria (four per cent each). In Africa, South Africa tops followed by Kenya.
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163b kshs invested in some algorithm - iko chida.
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The looted monies in Africa has just found a new global home
Seems iLab and Bitanges are offering consultancy to the mighty.
Today they had a breakfast meeting at Strathmore
https://ilabafricastrathmore.wordpress.com/2018/01/08/the-age-of-cryptocurrency-bitcoin-blockchain-25th-january-2018/
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$530 Million Lost in Cryptocurrency Exchange Hack
http://time.com/money/5121955/nem-coincheck-hack/ (http://time.com/money/5121955/nem-coincheck-hack/)
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Line - top chat app in Japan, Thailand, Taiwan, Indonesia - goes crypto. Telegram and Facebook have already announced crypto strategies.
Chat app Line announces plan for cryptocurrency services, loans and insurance
https://techcrunch.com/2018/01/30/line-cryptocurrency-insurance-and-loans/ (https://techcrunch.com/2018/01/30/line-cryptocurrency-insurance-and-loans/)
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Big kahunas betting on the blockchain --
Beyond Crypto: Blockchain Applications Deliver Enterprise Solutions
https://www.toptal.com/insights/innovation/blockchain-applications-create-enterprise-solutions (https://www.toptal.com/insights/innovation/blockchain-applications-create-enterprise-solutions)
(https://pbs.twimg.com/media/DVD4jcWXkAAv-YE.jpg)
(https://pbs.twimg.com/media/DVD5OETWkAYp7bR.jpg)
(https://pbs.twimg.com/media/DVD5mFgXcAESkgU.jpg)
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There you are Robina. They are jumping ship while you are trying to promote the cryptos
https://www.bloomberg.com/news/articles/2018-02-02/bofa-to-decline-all-cryptocurrency-transactions-on-credit-cards
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Whatever value may be had in blockchain, cryptocoins appear doomed
As of today, BTC is 717% higher from 1yr ago, -53% from a month ago,-30% from a week ago,and -13% from 24hrs ago. Early investors have every incentive to keep on selling the mirage to new money
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No one is even talking any longer about the concept hyped until a month ago that these tokens were the best “store of value” or the concept hyped a year ago that these tokens are the next world currency. By now it is clear to everyone that they’re just an unregulated form of online gambling, peppered with plenty of scams to add some spice.
But these things will bounce. They always do, on the principle that nothing goes to heck in a straight line. And hundreds more cryptos will be issued over the next few months as long as anyone is still out there buying them, and a plethora of intelligent-sounding gobbledygook whitepapers will accompany them to show why they will change the world.
https://wolfstreet.com/2018/02/05/largest-cryptocurrencies-plunge-50-80-372-bn-gone-in-1-month-will-it-hit-the-economy/
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Where's Robina???
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Robina...
Where are you?? ITS A CRASH!!
https://www.bloomberg.com/news/articles/2018-09-12/crypto-s-crash-just-surpassed-dot-com-levels-as-losses-reach-80?srnd=premium
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Where’s Robina on this crypto. she lost all her money but with a spendaholic in White House crypto’s are back