Right. The details can be unique for each trade offer, but this essentially means the gift card is being offered at 50% of its face value.
This could happen if the trader has an inventory of cards that are about to expire, or possibly where the cards have legitimacy concerns (e.g., could have been obtained via fraud where it's only a matter of time before the issuer discovers the fraud and cancels the cards), etc., or they could be legit but just for a brand or product that has very little market interest.
Yes, I am studying a lot of apps and background in recent weeks (no tech background, no clue) like paxful or local bitcoins. I would like to be prepared when hell breaks loose in the Eurozone. I've been in Athens 2012 during these massive wave of protests against the policy measures during r the GFC... wasn't any funny at all
I'm watching Nigerian news reports from yesterday. The government is issuing new bank notes. Old bank notes will not be honored past the deadline. The government just extended the deadline until February 10 because banks and ATMs do not have the new notes. It's a chaotic situation.
Wow, thanks for Your info. So it's a full blown currency collapse with the attempt to avoid a bankrun by expropriating the people before it happens. BTC really is hope for anybody! I pray for You guys and girls to find a way through this mess that one day could come to anyone of us. Good luck!
It's a classic Nigeria-style manufactured crisis. The banks are quite clearly colluding with large corporations and BDCs to create an artificial scarcity of new naira notes that is now complicating economic activity during an election season.
The intent could have been to deprive corrupt politicians from having the ability to rig the election (buy buying votes or paying those who count the votes) next month (since the cash they currently hold would be invalid by then, and though they could deposit the cash that flow of funds is then tracked).
It will be interesting to see after the election what the next president's stance will be regarding the push for a cashless economy and their CBDC.
Fake news [mostly].
https://twitter.com/nathaniel_luz/status/1620325481701863427 [Nitter
It's like exchanging gift cards for btc?
Right. The details can be unique for each trade offer, but this essentially means the gift card is being offered at 50% of its face value.
This could happen if the trader has an inventory of cards that are about to expire, or possibly where the cards have legitimacy concerns (e.g., could have been obtained via fraud where it's only a matter of time before the issuer discovers the fraud and cancels the cards), etc., or they could be legit but just for a brand or product that has very little market interest.
Thanks for Your explaination. But people still adopt it in case of chaos it seems?
Well, Paxful is kind of unique -- that whole P2P gift card trading basically came into existence thanks to Paxful.
And it has been going on for years. Here's an article from 2019:
Paxful is the Most Important Bitcoin Company You Aren’t Paying Attention to.
https://medium.com/dlabvc/paxful-is-the-most-important-bitcoin-company-you-arent-paying-attention-to-4e699db0c5ca
Yes, I am studying a lot of apps and background in recent weeks (no tech background, no clue) like paxful or local bitcoins. I would like to be prepared when hell breaks loose in the Eurozone. I've been in Athens 2012 during these massive wave of protests against the policy measures during r
the GFC... wasn't any funny at all
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This can't be accurate, can it? I thought Nigerians used stablecoins pegged to USD. Why would they be willing to pay twice spot for bitcoin?
I checked it on paxful. Maybe it is the stage before a bankrun or hyperinflation?
I'm watching Nigerian news reports from yesterday. The government is issuing new bank notes. Old bank notes will not be honored past the deadline. The government just extended the deadline until February 10 because banks and ATMs do not have the new notes. It's a chaotic situation.
Wow, thanks for Your info. So it's a full blown currency collapse with the attempt to avoid a bankrun by expropriating the people before it happens. BTC really is hope for anybody! I pray for You guys and girls to find a way through this mess that one day could come to anyone of us. Good luck!
https://twitter.com/Illustrious_Cee/status/1619401543207493632 [Nitter]
The intent could have been to deprive corrupt politicians from having the ability to rig the election (buy buying votes or paying those who count the votes) next month (since the cash they currently hold would be invalid by then, and though they could deposit the cash that flow of funds is then tracked).
It will be interesting to see after the election what the next president's stance will be regarding the push for a cashless economy and their CBDC.
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Just to clarify, I'm not Nigerian. I am just watching the news on YouTube. It looks like Nigerians are having a very tough time right now.
I will be watching this closely, too. A lot of really bad things seem to escalate. Look at the Israel-Iranian conflict besides Ukraine this morning.
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Thats the USD collapsing?
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