I hope you guys will be smart enough to stay away from this garbage ICO. This is a pure and uncovered attempt to get money out of naive people.First of all if the coin is backed by oil then it definetely will not moon. Second is that if someone is buying their coin then the person should have a right to own a some part of oil. Which means that government should create a separate storage for it and cover all expences for their own cost. Obviously they are not going to do it which means that the coin will be backed by the oil from the normal reserves. So if people bought coins when government had 100 galons of oil they are losing their money after the governens make a new deal with someone (which is a robbery). And finaly nothing stops them fromissuing new tokens that will devaluate it. The same song as it was with bolivar.
Probably you are right,but look at the bright side if this ICO achieved success it might trigger other countries to buy a cryptocurrency like this to buy oil using it,the first country that will support will be U.S for sure. 
Topic: Crypto-currency Petro through the sale of tokens (Read 101 times)
Wow this is another good news i hope most of the countries will support cryptocurrencies like what venezuela did.
How Venezuela plans to release the Petro crypto currency through the sale of tokens
According to Bloomberg News, Venezuela plans to strengthen its crypto currency Petro, adopting it as a form of payment of fees and taxes, using it in international business and encouraging its use through tax incentives. The plan will also include the payment of employees in the crypto currency
It is noteworthy that according to Bloomberg information from 100 millions of Venezuelan citizens, by order of President Nicholas Maduro, only about 38 million will become institutional investors in the monthly pre-sale, which is to begin on 15 February, which will attract about 1,3 billion dollars. Then the tokens will be sold to the general public, and 44 million Petro will be sold to attract an additional 2,4 billion dollars. The remaining 18 million Petro will go for a group of advisers who helped the country and the government with the development.
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This is great news,a country that fully supports cryptocurrency and have its own ICO,i hope more countries will follow. According to Bloomberg News, Venezuela plans to strengthen its crypto currency Petro, adopting it as a form of payment of fees and taxes, using it in international business and encouraging its use through tax incentives. The plan will also include the payment of employees in the crypto currency
It is noteworthy that according to Bloomberg information from 100 millions of Venezuelan citizens, by order of President Nicholas Maduro, only about 38 million will become institutional investors in the monthly pre-sale, which is to begin on 15 February, which will attract about 1,3 billion dollars. Then the tokens will be sold to the general public, and 44 million Petro will be sold to attract an additional 2,4 billion dollars. The remaining 18 million Petro will go for a group of advisers who helped the country and the government with the development.
More
I hope you guys will be smart enough to stay away from this garbage ICO. This is a pure and uncovered attempt to get money out of naive people.First of all if the coin is backed by oil then it definetely will not moon. Second is that if someone is buying their coin then the person should have a right to own a some part of oil. Which means that government should create a separate storage for it and cover all expences for their own cost. Obviously they are not going to do it which means that the coin will be backed by the oil from the normal reserves. So if people bought coins when government had 100 galons of oil they are losing their money after the governens make a new deal with someone (which is a robbery). And finaly nothing stops them fromissuing new tokens that will devaluate it. The same song as it was with bolivar.
So now a shitty 3rd country is going to issue a new ICO/Token or whatever it is? Petro.. That name is a copycat of just another coin that is already listed on the market.
What a shame, i really hope that this one will disappear because it is ridiculous, the entire country is a shame.
What a shame, i really hope that this one will disappear because it is ridiculous, the entire country is a shame.
Quote
According to Bloomberg News, Venezuela plans to strengthen its crypto currency Petro, adopting it as a form of payment of fees and taxes, using it in international business and encouraging its use through tax incentives. The plan will also include the payment of employees in the crypto currency
How Venezuela plans to release the Petro crypto currency through the sale of tokens
According to Bloomberg News, Venezuela plans to strengthen its crypto currency Petro, adopting it as a form of payment of fees and taxes, using it in international business and encouraging its use through tax incentives. The plan will also include the payment of employees in the crypto currency
It is noteworthy that according to Bloomberg information from 100 millions of Venezuelan citizens, by order of President Nicholas Maduro, only about 38 million will become institutional investors in the monthly pre-sale, which is to begin on 15 February, which will attract about 1,3 billion dollars. Then the tokens will be sold to the general public, and 44 million Petro will be sold to attract an additional 2,4 billion dollars. The remaining 18 million Petro will go for a group of advisers who helped the country and the government with the development.
More
According to Bloomberg News, Venezuela plans to strengthen its crypto currency Petro, adopting it as a form of payment of fees and taxes, using it in international business and encouraging its use through tax incentives. The plan will also include the payment of employees in the crypto currency
It is noteworthy that according to Bloomberg information from 100 millions of Venezuelan citizens, by order of President Nicholas Maduro, only about 38 million will become institutional investors in the monthly pre-sale, which is to begin on 15 February, which will attract about 1,3 billion dollars. Then the tokens will be sold to the general public, and 44 million Petro will be sold to attract an additional 2,4 billion dollars. The remaining 18 million Petro will go for a group of advisers who helped the country and the government with the development.
More
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