Skip to main content

Advert

Ng

MMM TO PAY IN BITCOINS AND NAIRA

By
                                        



      MMM Nigeria says it has introduced Bitcoin, said to be the world’s best performing currency in 2016, as part of its mode of payment in its comeback plans.
The Ponzi scheme, which froze accounts of its three million participants on December 13, 2016, is preparing to return, and it is throwing up a number of plans to get its community active again.
Last week, MMM promoters issued instructions to its participants whose accounts were frozen, to perform “Promo Tasks: A New Tool for MMM Community Development.”
In the MMM message, subscribers were told to perform tasks, both online and offline, to promote the scheme and drive “traffic and participation” by the time the restriction on the account is lifted.
“Being an MMM member implies not only opportunities, but also a responsibility for the state and development of the MMM Community”, the message said.
Now it has come up with Bitcoin, the increasingly popular cryptocurrency or digital currency.
It was said to be the best performing currency in 2016, appreciating by more than 100 percent, from about $ 400 per bitcoin to over $ 1,000 per bitcoin. The currency has now fallen to $ 887 as at last Friday, with China tightening rules to curb capital outflows.
Prior to the freeze of MMM, participants were allowed to provide help in bitcoin, but they were paid back in naira.
However, MMM new plan allows participants to receive payment in bitcoin, and watch their monies grow in bitcoin.
In a statement to participants, MMM said “due to the recent sharp price fluctuations of Bitcoin, MAVRO-BTC is being introduced in the system.
“So far, we have only had Mavro-Naira in the system. Even though you provided help via Bitcoin, your Bitcoins, anyway, were recalculated into the Naira at the exchange rate at the moment of providing help, and you were credited with Mavro-Naira in your PO.
“It was the naira amount that grew. In other words, you received 30 percent a month specifically in naira (not in Bitcoins, although you originally provided help using Bitcoins).
“Now, you have a chance to have 30 percent growth of the Bitcoin amount, not the naira amount. So, acquire MAVRO-BTC which will be credited in your PO and will grow at a 30 percent monthly growth rate.
“In a month not only 30 percent will be added to your initial amount, but, it can increase itself due to Bitcoin price growth.
“And, what if Bitcoin price is going to fall? In case Bitcoin price might go down, you will be able to return to naira at any time — instantly convert your MAVRO-BTC into Mavro-Naira (and vice versa, if Bitcoin price might increase again).
“This option is available in PO. You can convert both confirmed and unconfirmed Mavro.
“We hope that with implementing MAVRO-BTC, your participation in MMM will become more comfortable.

Labels:

Comments

Post a Comment

Popular posts from this blog

UNIZIK’s BEST GRADUATING STUDENT

By
Ikenna Henry Ozofor was the cynosure of all eyes at the 11th convocation of the Nnamdi Azikiwe University (UNIZIK) in Awka, the Anambra State capital. With a Cumulative Grade Point Average (CGPA) of 4.85, the Chemical Engineering graduate was the school’s valedictorian. He also made history as the first student with the highest CGPA in the Faculty of Engineering. Ikenna shares his success story with FRANKLIN ONWUBIKO (Corps member, NYSC, Katsina)
Post a Comment
Read More>>

Senate to ASUU: Go back to class

By
The Senate on Wednesday appealed to the Academic Staff Union of Universities ( ASUU), to call off its nationwide industrial action in the interest of the country. The indefinite strike action embarked upon by ASUU members entered its 4th day on Thursday. The upper legislative chamber described the strike by the University teachers as a surprise to it having intervened earlier in the year when ASUU embarked on warning strike. It said that its intervention facilitated renegotiation of some outstanding issues between ASUU and the Federal government on the implementation of the 2009 agreement. Chairman, Senate Committee on Tertiary Institutions and TETFUND, Senator Jubrin Barau who made the plea at media briefing in Abuja said ASUU needed to call off the strike for renegotiation proper to commence between it and the Federal Government. Barau noted that the industrial action should not have been the first option by the university teachers since the Senate and by extension, the Nationa...
Post a Comment
Read More>>

JAMB RELEASE GUIDELINE FOR 2017/2018 UTME REGISTRATION

By
JAMB has released an official publication regarding the guidelines for the 2017/2018 UTME Registration and relevant information every prospective UTME candidate and owners of JAMB CBT Accredited centres should have in mind before the 2017/2018 UTME registration commences. For the sake of clarity and comprehension, each important aspect of the registration process and relevant information is presented as a sub-heading. STOPPAGE OF SCRATCH CARDS The use of Scratch Cards has been discontinued for the following reasons:  Prone to fraudulent practices,  Archaic,  accountability (zero). PAYMENT OPTIONS The following channels will be made available: i. Web Payment: ATM issued cards (Visa, Verve and Master card) i. Online Quick Teller ii. ATM Payment iii. Quick Teller Mobile Application iv. Bank Branch (CASH / CARD) OPTIONS PROVIDED FOR REGISTRATION Four (4) options are available to a candidate who wishes to register: i. A mobile app will be created for a cand...
Post a Comment
Read More>>