Is It Possible to Ban Cryptocurrencies? — VAULT Cryptocurrency Blockchain News # 44
Bank accounts, oligarchs, vodka, and Hillary even wanted crypto exchanges to ban Russian users, potentially including hard-working citizens and people protesting against the war. Can they do that? One purpose of some cryptocurrencies was to get away from too much centralized bank and/or governmental control and limitations of our finances. For example, when banks pay an average of ~0.06% interest on savings accounts, far below the inflation rate, who are they helping?
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Luckily the exchanges stood up to these demands and refused to freeze the funds of their clients in Russia.
We did see some platforms place limitations on or block users in some countries.
We have seen other attempts to ban cryptocurrencies for issues other than war and aggression. A recent bill in the European Union was introduced to ban Proof of Work mining because of its detrimental impact on the environment leading to climate change. This bill was not successful and it was announced this week that it had failed.
China has officially banned Bitcoin but still accounts for over 10% of all Bitcoin transactions. Many are predicting that their ban will be reversed later this year.
Can Bitcoin and other cryptocurrencies be banned? Anything is possible, but so far, they are still going strong and finding more positive use cases and value every day. And most of the world’s liquid or usable money is in fiat, with regulations already in place to control crypto-to-fiat onramps, offramps and transactions.
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VAULT Crypto News This Week
This has been an unusually quiet week for VAULT with no new announcements from the team this week. Stay tuned for future developments.
Keep checking the Stronghold Diamond Hands website for future updates and watch the Diamond Hands Staking Pool grow every day as the rewards pour in and more bonuses get added!
VAULT Coin’s Market Performance This Week
We finished out the week at $1.25, which is down from last week’s price of $1.36. We saw a high of $3.93 last Wednesday. The weekly low was $1.15 on Monday.
We saw an average of $793.73 traded daily. This is up from last week’s average daily volume of $677.11.
VAULT’s current price average across all exchanges is 3,197 Satoshi (0.00003197 BTC).
Many new sacrifices have been announced for projects launching on PulseChain, a new upcoming fork of Ethereum. POWERCITY’s sacrifice phase will begin on March 7th.
POWERCITY is an ecosystem of projects planning to operate on PulseChain.
You can look on their website powercity.io for a description of the projects in development and planning to deploy once PulseChain is launched
Again, this is not an endorsement or financial advice. I’m just informing you of some upcoming opportunities. Always do your own research.
Cryptocurrency News This Week
VAULT Crypto Portfolio Tracker
I wanted to give you a running tally of what you could potentially be earning with VAULT. The example I’m using holds 1,000 VAULT on the VAULT platform. I’m keeping a cumulative total on the profits you could make over time.
I wanted to show you what kind of returns you could be earning weekly and cumulatively.
1,000 VAULT initial investment with current value of 1,218.1 VAULT at ~22% ROI generated 5.03 VAULT blockchain rewards this week, for a total of 1,223.13 VAULT over the past 45 weeks if you compounded your daily rewards with 100% reinvest on the VAULT platform. The total dollar value earned is $278.91 at VAULT’s current price of $1.25 (0.00003197 BTC). The total Bitcoin value earned at VAULT’s current price is 0.007133 BTC.
We Are Here to Help You DYOR (Do Your Own Research)
I hope this update on cryptocurrencies has been helpful.
Consider investing the VAULT way and enjoy a seamless crypto experience!
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This is not financial advice. VAULT Investments provides a service to its clients and is not responsible for projects listed or featured in its platform or ecosystem. The views and opinions in this update are my views alone and are not necessarily those of VAULT investments or its administration. Users should always DYOR. Invest at your own risk.
About the Author:
My Discord handle is Bobtilladhun.
I’m a long-term crypto investor. I bought my first Bitcoin in 2016 for $700. I sold 1/2 my BTC when the price doubled to satisfy my wife that I wasn’t going to lose all our money and made my initial investment back. Since that time, I have used my remaining Bitcoin stack to HODL and invest in interesting projects. I am a founding investor in VAULT and have accumulated a significant number of VAULT coins through holding my coins in CRYO and taking advantage of the compounding interest VAULT provides.
I was asked by Ian and the VAULT team to provide a weekly update on VAULT’s performance and current issues in cryptocurrency.
I hope these updates provide you with a quick overview of what is happening with VAULT and in the world of cryptocurrency.
Please contact me on Discord if you have any comments or suggestions.