El Petro, Trump, Putin and OIL | Bitcointalksearch.org

shulc7

full member

Activity: 518

Merit: 100

Quote from: Nikolyovin on March 23, 2018, 12:59:45 AM

It's no secret that Venezuela has huge inflation. Nicholas Maduro tries with the help of crypto currency to solve problems in the Venezuelan economy, as this will help to avoid the dollar and circumvent the sanctions. The name of this crypt El Petro, and secured it will be OIL! Donald Trump banned this coin for the US, to exert pressure on Nicholas Maduro, but thus increased the popularity of El Petro. There are also rumors that Russian names have helped in the development, names like Denis Druzhkov and Fedor Bogorodsky, in particular, it is alleged that the president of Venezuela, Nicolas Maduro, was advised by Russian billionaires directly related to the Kremlin. It is assumed that, having secured the support of President Putin, they were responsible for developing El Petro. Do you think there is a future for El Petro and will this coin help Venezuela?
P.S. Sorry for my English

I consider this a comic coin because in reality it is not backed up and will not help the needy to improve their lives. Bitcoin would help solve economic problems, but the government wants to take care only of its well-being.

apelopus

newbie

Activity: 35

Merit: 0

Quote from: keyrun on June 06, 2018, 08:21:39 AM

They did it right. Their currency have no value.
But Oil has a value. They are just tokenizing their oil and hence making it free from the fluctuation of their currency.
This way they'll profit, their customer will profit and the only one at law is the tyrannic rule of IMF.

Haha Don’t be silly, Venezuelan oil will not worth a penny in the not too distant future. Crude oil production in Venezuela is practically falling at an average of 10% every quarter and has been since mid-2017. A scenario with oil production in the country losing at least another 500,000 barrels

kriptokraker

newbie

Activity: 30

Merit: 0

Quote from: oscarrsm on June 07, 2018, 02:29:27 PM

I have conflicting feelings about El Petro and Maduro's experiment. On the one hand, he tries to defeat inflation, to become one of the most progressive countries, physically provision of cryptocurrency. But for me, there is one contradiction. The meaning of bitcoin is that any person can invest and become rich. But Venezuela's coin is designed to make the rich even richer, but the poor have lost their last money. This is not a principle of decentralization, it is a fiat simply wrapped in a beautiful and modern digital wrapper. Maybe I'm wrong, but this is my opinion.
I will not comment Putin. He is not an authority for me and an absolutely empty place.

I should agree with you here, in your second point. But regarding the first, I think that becoming progressive country and avoiding inflation are just his empty words that mean absolutely nothing because after his reelection he only speaks about it, and doesn't do anything although now with his regained power he has all the field for action

aviven

newbie

Activity: 38

Merit: 0

Quote from: oscarrsm on June 07, 2018, 02:29:27 PM

I have conflicting feelings about El Petro and Maduro's experiment. On the one hand, he tries to defeat inflation, to become one of the most progressive countries, physically provision of cryptocurrency. But for me, there is one contradiction. The meaning of bitcoin is that any person can invest and become rich. But Venezuela's coin is designed to make the rich even richer, but the poor have lost their last money. This is not a principle of decentralization, it is a fiat simply wrapped in a beautiful and modern digital wrapper. Maybe I'm wrong, but this is my opinion.
I will not comment Putin. He is not an authority for me and an absolutely empty place.

You see, that’s an illusion people always have when investing in crypto - that you can risk it without a second thought and become rich. Whereas the reality is, investing in anything is very risky and usually there’s a lot of scam, so the before putting your money in some untrustworthy crypto like El Petro. At least try to understand how it works or, most importantly, why?

oscarrsm

full member

Activity: 322

Merit: 101

I have conflicting feelings about El Petro and Maduro's experiment. On the one hand, he tries to defeat inflation, to become one of the most progressive countries, physically provision of cryptocurrency. But for me, there is one contradiction. The meaning of bitcoin is that any person can invest and become rich. But Venezuela's coin is designed to make the rich even richer, but the poor have lost their last money. This is not a principle of decentralization, it is a fiat simply wrapped in a beautiful and modern digital wrapper. Maybe I'm wrong, but this is my opinion.
I will not comment Putin. He is not an authority for me and an absolutely empty place.

apelopus

newbie

Activity: 35

Merit: 0

Quote from: keyrun on June 06, 2018, 08:21:39 AM

They did it right. Their currency have no value.
But Oil has a value. They are just tokenizing their oil and hence making it free from the fluctuation of their currency.
This way they'll profit, their customer will profit and the only one at law is the tyrannic rule of IMF.

Yeah, but due to political reasons and economic crisis they are losing their trading partners, which makes them unable to increase the usability of Petro and stabilize oil prices.
Also, The decision by ConocoPhillips to seize the Caribbean assets of PDVSA, Venezuela's state-owned oil company, has established a dangerous legal precedent that could swamp the South American country's already impoverished oil monopoly under a wave of similar claims and cut deeply into its ability to operate

Read more here: http://www.miamiherald.com/latest-news/article210820589.html#storylink=cpy

ZeidFreak

member

Activity: 200

Merit: 10

Macho Gwapito ako!

Quote from: keyrun on June 06, 2018, 08:21:39 AM

They did it right. Their currency have no value.
But Oil has a value. They are just tokenizing their oil and hence making it free from the fluctuation of their currency.
This way they'll profit, their customer will profit and the only one at law is the tyrannic rule of IMF.

That's why they choose to adopt the blockchain and they have the petrocoin- trumps hate it that's why they ban to petro oil to enter there vicinity. Not sure what will happen next.

keyrun

member

Activity: 143

Merit: 10

They did it right. Their currency have no value.
But Oil has a value. They are just tokenizing their oil and hence making it free from the fluctuation of their currency.
This way they'll profit, their customer will profit and the only one at law is the tyrannic rule of IMF.

aviven

newbie

Activity: 38

Merit: 0

Quote from: kriptokraker on June 04, 2018, 08:41:51 AM

Quote from: Crypdon on May 31, 2018, 11:58:30 AM

I think Putin is watching carefully because if it works then he will introduce a similar coin from Russia. Putin will support anything that will help to reduce the reliance of trade on the US dollar so it is all inter-related.

Although From what I know, Putin is quite conservative when it comes to.technology. He bans everything progressive, like Telegram for example. I think he might agree to launch crypto if it proves to be a means of pertaining power. Or making big money. But not for the country, for himself and all Russian millionaires.

Considering the fact that El Petro has failed, he has to think twice before launching a national crypto

kriptokraker

newbie

Activity: 30

Merit: 0

Quote from: Crypdon on May 31, 2018, 11:58:30 AM

I think Putin is watching carefully because if it works then he will introduce a similar coin from Russia. Putin will support anything that will help to reduce the reliance of trade on the US dollar so it is all inter-related.

Although From what I know, Putin is quite conservative when it comes to.technology. He bans everything progressive, like Telegram for example. I think he might agree to launch crypto if it proves to be a means of pertaining power. Or making big money. But not for the country, for himself and all Russian millionaires.

jgaltt

newbie

Activity: 34

Merit: 0

Quote from: aviven on June 01, 2018, 10:23:00 AM

Quote from: Crypdon on May 31, 2018, 11:58:30 AM

I think Putin is watching carefully because if it works then he will introduce a similar coin from Russia. Putin will support anything that will help to reduce the reliance of trade on the US dollar so it is all inter-related.

I heard about such Russian project, called something like Crimea coin...Whatever, it is just another scam

Creating national crypto is a common thing nowadays, but El Petro was one of the first one to launch, although it proved to be a scam

aviven

newbie

Activity: 38

Merit: 0

Quote from: Crypdon on May 31, 2018, 11:58:30 AM

I think Putin is watching carefully because if it works then he will introduce a similar coin from Russia. Putin will support anything that will help to reduce the reliance of trade on the US dollar so it is all inter-related.

I heard about such Russian project, called something like Crimea coin...Whatever, it is just another scam

Crypdon

member

Activity: 616

Merit: 11

I think Putin is watching carefully because if it works then he will introduce a similar coin from Russia. Putin will support anything that will help to reduce the reliance of trade on the US dollar so it is all inter-related.

jakartanthor

newbie

Activity: 20

Merit: 0

Quote from: Dluretic on May 29, 2018, 08:33:02 AM

To be honest, I don't think venezuela's oil money is good news.
Because the currency was created only to avoid U.S. economic sanctions.

and what's so bad about it ? How else can Venezuela avoid sanctions?

aviven

newbie

Activity: 38

Merit: 0

Quote from: Gufeng on May 31, 2018, 06:26:10 AM

Russia is always messing some crazy stuff, But I believe, that united power of nations can make everything accepted properly and wisely for us.

I believe it is only thanks to Russian support El Petro is still functioning, but it’s a drop in the sea against US and latinoamerican sanctions

Gufeng

sr. member

Activity: 560

Merit: 250

Russia is always messing some crazy stuff, But I believe, that united power of nations can make everything accepted properly and wisely for us.

apelopus

newbie

Activity: 35

Merit: 0

http://www.mediafire.com/file/g7yilpj6722ialk/Informe_Petro_Folio_N%C2%B0001.pdf

Check out this doc, you can find some facts which prove that El Petro is SCAM

aviven

newbie

Activity: 38

Merit: 0

El Petro’s ICO is still failing, the Venezuelan government doesn’t talk about it anymore, an Venezuela itself is in big crisis. No good news for El Petro lately

Crumple Cat

full member

Activity: 364

Merit: 138

dApps Development Automation Platform

Quote from: o_e_l_e_o on March 23, 2018, 01:57:07 AM

Quote from: Nikolyovin on March 23, 2018, 12:59:45 AM

Do you think there is a future for El Petro and will this coin help Venezuela?

No and no.

Petro is a total scam. It is claimed to be backed by oil, but Venezuela's infrastructure, economy and oil sector are practically non-existent.

Maduro is a murderous dictator. Any profit made from Petro will be funnelled to his brutal regime, and will not benefit the Venezuelan people whatsoever.

If you buy this coin, you have the blood of innocents on your hands.

I fully support your word.
A worthy person can not afford to buy this coin and make a profit from it.

Dluretic

member

Activity: 224

Merit: 10

The Experience Layer of the Decentralized Internet

To be honest, I don't think venezuela's oil money is good news.
Because the currency was created only to avoid U.S. economic sanctions.

Topic: El Petro, Trump, Putin and OIL (Read 300 times)