Wednesday, March 2, 2022

Could Putin be looking into cryptocurrency as a way to get around Western sanctions?

"Of course, we also have certain competitive advantages here, notably in the so-called mining," Vladimir Putin said, as many others do when addressing the intricate world of cryptocurrencies.

Following the events of this weekend, when Russia was slammed with significant financial penalties, the Russian president may decide to take use of those advantages.

Putin spoke in January, just days after Russia's central bank recommended a blanket ban on cryptocurrency trade and mining. Mining is the energy-intensive process of computers verifying new bitcoin transactions – placing them on a virtual record known as a blockchain – and generating new bitcoins as a reward for that labor in the case of bitcoin, the leading cryptocurrency.

I see a lot of people jumping on the crypto trend right now, personallly, I invested in DeFi projects like Aggregated Finance and Aave, and waiting for prices to go up more.

The Bank of Russia issued a strong warning, claiming that cryptocurrency mining poses "serious threats to the economy and financial stability." Putin appeared to be less certain a week later, claiming that Russia had an edge in bitcoin mining due to its vast energy reserves and competence in the industry.


Freaky Events: CARDANO EU Crypto Sanctions BONUS Ted Cruz Endorses Bitcoin

https://coinmarketbag.com/freaky-events-cardano-eu-crypto-sanctions-bonus-ted-cruz-endorses-bitcoin/

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In the News by ShapeShift DAO

What’s up, ShapeShift fam! First, I wish to recognize the situation in Ukraine, considering how close to home this hits with one or more ShapeShift DAO contributors being residents in this country. We hope for your safety, and you are in our thoughts and hearts. With that being said, let’s dive into what’s been happening around the world concerning the market.

A report recently came out stating that Ukraine’s Bitcoin and Ethereum wallets have received over $20 Million in donations. This is the amount raised within one week's time since the country began taking donations. Source

Since sanctions have been applied to Russia, there has been a significant impact on Russia’s currency value and created a relative bank run scenario. In relation to this event, there has been a drastic uptick in Bitcoin addresses holding 1000+ bitcoin. Coincidence? Maybe we should ask the oligarchs.

Coinbase exceeded analysts' expectations by 27% in its Q4 earnings report regardless of broader market conditions. The company reported it had made $2.2 billion in revenue from transaction fees in Q4. This resulted in a whopping 6.8 billion dollar total for revenue in 2021. Source

In the State of the Union, by the U.S. government, Biden emphasized focus on the economy and global response to Russia. Getting inflated prices in America under control is “my top priority,” Joe Biden told Congress yesterday. Inflation has certainly been a shadow on Biden’s time in office, currently rising at an annual rate of 7.5% this year. Source


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What are NFT’s (non-fungible tokens), and why are they so valuable?  What is the difference between crypto and NFT? (hint: you don’t have to own any crypto currency to create and sell it) How to use NFT and trade it for big bucks? (some of the biggest digital art transactions covered in detail) What are the advantages of NFTs versus any other digital currencies? Five types of NFTs; which one do you like the most? How to build your own unique NFT and create value in it? (this is where your income journey starts) What are the potential risks and future possibilities with NFTs? (the market grew by 299 percent in 2020 alone!) Much much more

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How can i spend cryptos without a bank account?

Hello,

I was never interested in cryptos before. I always thought they were a scam and not ecological because of the very high amount of energy that is needed to mine them.

But because of these recent events, the Canadian truckers and the Russian people that are losing access to their money, i'm more and more interested in owning cryptos like Bitcoin.

I don't understand how all this works and how cryptos give freedom. To spend them, you need to convert them back to real money. And for that you need a bank account. So how can you be safe if you have cryptos?

Thank you.


Is it the best time to invest in cryptocurrencies?

Hello everybody!

I would like to get some passive source of income. That’s why I’ve decided to invest in cryptocurrencies. This trend is not only viral but also seems pretty promising. Well, I’ve been studying this question for a while and have found some info. Still, before I spend my own money, I would be glad to hear about your experience and opinion about cryptocurrencies you have already invested in or just planning to do in the nearest future.

Well, with the recent political events across the world, the price for Bitcoin has dramatically dropped. Many investors are frustrated because of these events. They lost a lot of money unless they sold their assets before the event. Still, I’ve read that the drops in prices also create opportunities for newbies who are just planning to enter the market. I’m talking about that I’m interested in investing, particularly in Bitcoin or other crypto coins.

Still, as far as I know, the price for Bitcoin also determines the price for other cryptos. So, according to this theory, if I can call it so, now it’s the best time to invest your money into crypto. Then, it is expected that the price will go up, and new entries will only win in the future. Indeed, there are already some positive changes on the market if you check out this graph I’ve posted below, which is for the end of January when I’ve been doing my research.

https://preview.redd.it/03lcy1jpa1l81.png?width=1360&format=png&auto=webp&s=fb927e9fa82abdba897c2163e3af838cdc40bed6

Another crucial moment is that I need to decide where to invest my money. I’ve read on different sources that it is better to spread your risks and invest different cryptos into the new ones with higher risks and ROI. The well-established ones, but the lower ROI, hence lower risks.

Well, this is what I have found out from different sources. By the way, speaking of sources, it would be interesting to know where you look for info. I found this source — https://investorjunkie.com/ with many tips. It would be great to suggest something similar to this one for me.