Crypto Rally Coming? Venezuela Bans Mining Equipment

in #cryptocurrency3 years ago


The recent pattern in the market has resulted in an inverse head and shoulders formation, a very bullish piece of technical analysis. Can the bulls take charge and make it happen? Comment below.

Alan Lane, the CEO of Silvergate Bank, is an angel for crypto businesses. His community bank refuses to shut down crypto business accounts. He has been a safe haven for entrepreneurs in the industry.

Brad Garlinghouse, Ripple CEO, says that they are signing up roughly one bank per week to ripple related products. He feels the landscape of crypto is about to change to a more evolved market in the coming years.

Venezuela, the country that suffered inflation north of 14,000% in the past year, has banned the import of crypto mining equipment. In an effort to stifle the citizens from mining cryptocurrencies on the socialized free power grid, authorities are blocking graphics cards and ASIC chips at the point of entry.

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Hi connor kenny i am your lucky follower from Venezuela
You're right about its a horrible country to live right at the momment, our president is just crazy. Steem and steemit is a huge support to people who lives here.

99.99 % of its value over the last five years wow just crazy.

This is so sad, I have been to Venezuela and I cannot believe what is happening there. With the amout of oil your Country has there should not be one poor person, I hope it improves soon for you all.

mara0507 - fingers crossed for you and all normal people in Venezuela:)

He feels the landscape of crypto is about to change to a more evolved market in the coming years.

He is very right about this actually, however, i dont think its time for a bull yet, according to my recent studies, the correction lasts for a while, gains an uptrend for a little while then goes all bearish for a longer while, it bleeds, then corrects upwards. So a little more time of correction, then the final bull run

In 2013 BTC went from $2 to $266 in April then corrected to $50, then 8 months later hit $1250. Not sure about your research. You could be right, but I wouldn’t be naive about how much fiat the institutional investing will bring in a short amount of time.

Lol, this ban might impact the market for a short while, but I think we have been seeing red colors for way too long. Something tells me June is going to be a very good month compared to the last few.

A lot of amazing things are taking place with all the innovations that cryptocurrencies are bringing to us. It's only a matter of time until it all picks up in the market.

I, as a newbie to bitcoin, appreciate this episode. A few of my friends have been horrified that I am interested in bitcoin. They believe it is all about the dark web and crime. I don't dare tell them I actually bought a little! I sure didn't go to the "dark web". I want bitcoin more to use as currency than to invest, though, for political reasons. I am so frustrated with corrupt bankers

There was an opposite news from Prague which installed 10 BTC ATMs and there are now a total of 50. I am sure more countries will follow them and those who are banning now will also join when they realize it.

i can tell you that they are stealing the mining equipment to mine themselves because they are so inept they can't even manage to extract oil anymore, our whole oil industry is breaking down because every person that knew how to operate the machinery left the country and now we have these donkeys running the oil company that only manage to set our refineries and extraction points on fire every 2 weeks

In NY the weather is not that nice. It’s rainy and it will be for few more days. But I don’t mind this kind of weather. In crypto it’s a different story, nice weather is always welcomed. With that said, crypto is not having that rainy day at all. Nice consolidation! I hope this reversed H&S will eventually get confirmed by upside breakout as we are about to form right shoulder. Whenever that happens Im being patient and accumulating at any dip. We as well can get a failed breakout, which could shake out many weak hands and that’s what the smart guys (big money) are wishing for. They definitely won’t shake me up. I have learned my lesson many times before already and won’t make that mistake anymore. Every penny I invested I can afford to loose. This gives me confidence I need not to panic. I would definately feel much better if we get to $50k as JM’s target is. That would boost everyone’s confidence by a lot. We need crypto heroes, especially now and I’m glad there is many of them. Ripple is not one of my favorite coins, whatever it’s CEO says is not that important to me. Even though he might be right about bitcoin’s influence on almost every single coin. Of course it could change in the future. That’s why I’m diversified, which is very important to me. When it comes to Venezuela 🇻🇪. As of now, crypto is people’s only chance to get out of this hole. I wish them the best.
Congratulation to @bullet97!
Great video as always!

Bolivar.jpg
Most Venezuelan people use Cryptos because of the inflation occurring in their country and they save their money for Cryptocurrency to make it safer they say given the fluctuations in their country.

I always feel a bit better after watching your videos.
Bulls where are you, come on. We need moons!

This is what the market is needed come on we on the way to the moon

Yes hopefully we all are waiting for the rally for a long long time, things are shapping good, some good news round tha corner, the owner of m caffee is also lounching his own coin.
#holding

good thinking,great invest.i believe that cryptocurrency and steemit are our journey to a better future.

The rally is coming. I can feel it.

Such a great crypto update. I have recently hear that the first bank of Kuwait has begun testing ripple blockchain protocol. As i think croptos are carring significant influence. Thanks sir @investing for always sharing some valuable crypto updates.

I think this is hard to avoid ... people have known crypto and the benefits of life support, rules can be made by the authorities, the development of crypto is inevitable given the ease available in the crypto is very easy in various processes.
for the crypto community, they will not retreat with no results.

I think people trust the banks too much. It doesn't matter if they shouldn't because eventually they will end up doing what they want to do.

I have recently hear that the first bank of Kuwait has begun testing ripple blockchain protocol. As i think croptos are carring significant influence. Thanks sir @investing for always sharing some valuable crypto updates.

Hello sir, the cryptocurrency market has passed a lot of bad times now because the price of bit coins has been very high, I think the right time will be waiting for our investment and when we get more than 9000 bitcoin price, we will be able to earn a lot of profit.

Many of us who do not understand the right time invested and afterwards when they are not able to gain profit, everyone blames cryptocurrency, I think it is not correct, everyone should wait for a specific market and trade system because when the cryptocurrency market is full of good speed Everyone will get more help if they are invested!

I am sure more countries will follow them and those who are banning now will also join when they realize it.

Finger cross and we are hopping a rally soon, very informative video sir, we will rock soon.

A bad news for Venezuelans! There was an opposite news from Prague which installed 10 BTC ATMs and there are now a total of 50. I am sure more countries will follow them and those who are banning now will also join when they realize it.

At costs of around $530 per BTC, Venezuela is the cheapest country in the world to mine Bitcoin and Caracas, in particular, has become a mining hub as the citizens struggle to survive.

But no longer. Local media reported yesterday that a new government policy set out in April has been in effect, banning mining equipment to prevent people from abandoning the state currency entirely. Customs authorities have been seizing computer equipment by air and sea in the nationwide crackdown.

He man! It' been a while since I last came your blog. Hope you enjoyed the break! Good to hear from you again :D

Venezuela actually has a pretty high smuggling rate. I am sure people are going to do what they need to in order to survive...........

About Ripple - my understanding is that ripple is going to succeed. Not because of the people inside of cryptosphere but because of people outside of it. People would see the collaborations of big names and banks with ripple and they would flock to it.......... I think people trust the banks too much. It doesn't matter if they shouldn't because eventually they will end up doing what they want to do.

All the very best of luck to all of us.

I love dtube series. Video

Informative post. thanks a lot

Hope bulls will back to crypto soon :) Actually is so boring... ;)

This post has received a 12.27 % upvote from @booster thanks to: @investing.

Thanks for this analysis!

Alan Lane, the CEO of Silvergate Bank, is an angel for crypto businesses. His community bank refuses to shut down crypto business accounts.

Society needs more guys like him.People with vision and persistence.He knows where this whole thing is going. As for the Venezuelan government...it is pretty obvious that they manipulate the system as much as they can.Instead to try and find solutions for the citizens who seek ways for a better future.
Have a nice day @investing

EN VENEZUELA HAY PERSONAS QUE VEN A STEEMIT UNA OPORTUNIDAD PARA CRECER COMO INNOVADORES Y EMPRESARIOS. EN MI PAIS LA INFLACION ACABO CON EL PODER ADQUISITIVO DEL BOLIVAR GRACIAS A LAS MALAS DESICIONES Y ERRORES ECONOMICOS QUE POCO A POCO ESTAN DESTRUYENDO LA ECONOMIA DEL PAIS VENEZUELA. EN ESTA PLATAFORMA HE OBSERVADO LAS OPORTUNIDADES DE CRECER COMO PERSONA Y PROFESIONALMENTE Y A LA VEZ PODER SOLVENTAR PROBLEMAS QUE NO PUEDO RESOLVER EN MI PAIS CON UN TRABAJO O SUELDO QUE NO ALCANSA PARA UNA SEMANA. STEEMIT ES UNA SALIDA A ESTOS PROBLEMAS ECONOMICOS QUE AFECTAN AL PAIS. CONOZCO FAMILIAS QUE DEPENDEN DE ESTA PLATAFORMA PARA VIVIR Y CRECER. SE QUE ATRAVEZ DE LA EXPERIENCIA SE IRA CRECIENDO PARA EL FUTURO EN LO ECONOMICO SE REFIERE.

Connor @investing I missed your videos over the past week. Good to see you back in the Saddle Again................ "Stay Crypto"

Thank you for the information

I'm from Venezuela, and i can tell you that they are stealing the mining equipment to mine themselves because they are so inept they can't even manage to extract oil anymore, our whole oil industry is breaking down because every person that knew how to operate the machinery left the country and now we have these donkeys running the oil company that only manage to set our refineries and extraction points on fire every 2 weeks :^)

We can't mine coins using subsided electricity but they can, isn't socialism beautiful?

Whats going wrong with venezula.

Bulls are back but they will show their imapct on q4 of this year

Wow sir happy to see in youtube once again hope we can see you daily sir.

the crypto rally is taking a bit time but when it will come that will be epic time :D

You are the best blogger i have seen in entire crypto space great to meet you.

I think things will pick up in the next few weeks. I am really bullish on EOS and the launch is hours away, so if that goes well, perhaps it will be enough to reverse the downtrend and signal the return of the bull.

It's very disturbing news by a country who's people are already financially striving and now tjis opportunity has been taken from them, it's really harsh reality that they've banned mining rigs in venzuela.