As MMM-Nigeria prepares to return from the December break, it has introduced the use of Bitcoin instead of naira. This news was released on 7th January, in a message titled MAVRO BTC. As MMM-Nigeria Introduces Bitcoin Usage, there are bound to be changes in the operation of the scheme. Many Nigerians are also going to either embrace the new development and move on or be left behind.
The message as was sent by MMM is below:
Due to the recent sharp price fluctuations of Bitcoin, MAVRO-BTC is being introduced in the System.
What is this and why is it necessary?
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 Nigerian 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% a month specifically in the naira (not in Bitcoins, although you originally provided help using Bitcoins).
Now, you have a chance to have 30% 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% monthly growth rate. In a month not only 30% 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! :-))
Nigerians can only be helpful that this new development means well. As it stands, January 14th seems to be the most important day in Nigeria. We shall keep you informed of further development.
If you have not gotten a bitcoin wallet, you need to create yours now and be ready to join the trend. We have already written about the various sites where you can create a bitcoin wallet. The choice is yours now.