Without exports a country is doomed, you are unable to get customers internationally. Due to what PayPal believes is cybercrime, Paypal decided to block Nigeria from their services. This was a major blow to the economic growth of Nigeria as Paypal helps individuals and businesses be able to be paid globally and then be able to employ more people locally. More income means more spending and more money in the economy moving so more economic growth.
In addition, the Nigerian government does not have to report like America when they are printing money, and right now the naira (Nigerian currency) is becoming more and more worthless due to the printing of money. Many would even argue this is the problem with FIAT money, the rich can just print it and the poor have to work for it, and this is slavery and corruption, and there will be a revolution, hence how the Bitcoin revolution gained crazy momentum and other ALT coins are now getting more and more market capital because of the DEFI revolution changing how we think about lending and borrowing more fairly and globally.
Exports are essential, this is why it is very promising Nigerians are turning to bitcoins and eCommerce. Follow the money as Nigeria has 206 million people and think where will the money be in the future. Also, remember what money is. The price of Gold is also being watched very closely as it has been shrinking and shrinking and some would see this as a huge buying opportunity, however, if you are to take gold bars across country borders, do you know you will be taxed on your gold, digital assets do not have this crossing border problem.
Currently, there are less than 30 nodes in Africa. Nodes are basically computers that can communicate with the Bitcoin interface, used for mining and for validating the information (as bitcoin users/nodes audit the system to keep it secure instead of one auditor controlling everything).
China, unlike the UK, is very bullish on crypto, they already have 6% mining power, and this week they have seized more bitcoins and plan to control what they call ‘future money’ (bitcoin), by getting to own 1% of it so far.
Without exports a country is doomed, you are unable to get customers internationally. Due to what PayPal believes is cybercrime Paypal decided to block Nigeria from its services. This was a major blow to the economic growth of Nigeria as Paypal helps individuals and businesses be able to be paid globally and then be able to employ more people locally. More income means more spending and more money in the economy moving so more economic growth. Although it has already recovered from that and in fact touched it’s all-time high and then got rejected by it and is slowly bouncing around it, people are just waiting for it to pass it and make a new all-time high and then the bitcoin bull season will begin which will also push and help the ALT coin bull cycle.
Did you know the company that made the third biggest crypto known as XRP? Also bought shares in Moneygram when it was $4 per share and now it is $7 dollars per share they are cashing out a third of their ownership. Think about what they will do with their profits and how this can again help the rise of XRP. The partnership between XRP and Moneygram has also thrived for over 2 years and as they continue to work together it is promising for the blockchain community that more and more companies are understanding the ease of transferring money using digital currency. Even this week VISA themselves have decided they will support the USD Stablecoin and allow payments to be made with the USD crypto Stablecoin. This is a huge bullish movement for the crypto market.
However, the US is looking to make more regulation for those deciding to make Stablecoins and for those using Stablecoins, the bill proposed is almost like a FBI interrogation of all your financial transactions and this is bad news for America as many businesses will just leave America if they make it more harder for businesses to operate. In the short term there may be some bearish movement for Stablecoins as uncertainty can create doubt. However this will not affect XRP and as long as Bitcoin is still fluctuating around it’s all time high, it is helping the other coins to pump. Follow the money and make money.
Click here to read yesterday’s #CoachThursday post titled – How to not be intimidated by the unknown.
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A father, a teacher, a poetic life coach who knows to say it, feel it, see it like you already are it, now repeat it, till you are it. Obtaining wealth is a skill that can be taught. Fulfillment, completeness and divine wholeness is a manifestation of your choices. Make the right choice and transform your life, one word at a time.
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01 #financefridays – Follow the Money – Nigeria/Africa, China/Asia markets – stay informed and Moneygram and XRP news 04/12/2020 Without exports a country is doomed,
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