Topic: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela - page 55. (Read 28472 times)

So much for "insult based".

The question was, whether we should expect China, Russia and India to buy large parts of the petro issue. I provided some arguments, why I think rather not.

The following isn't directly linked to that question, but let's have a look:

This is correct.

"Purely racist and political reasons"? How do you know? As to other companies making great profits:

https://www.reuters.com/article/us-venezuela-companies-insight/awaiting-better-days-multinationals-keep-venezuela-units-alive-barely-idUSKBN1CB0DX

http://money.cnn.com/2017/07/30/news/companies/us-companies-venezuela/

You never should get crazy. But economic indicators are of course essential if you want to evaluate a possible investment.

The Venezuelan opposition fan here is so desperate that it's hard to believe s/he's an adult. That's the effect of hysteria, generated by 2 decades of 24/7 brainwash.
Anyway. Do your research folks. Just be aware that western MSM love Venezuela.

By the way, US companies have billions of investments in Venezuela too... and the government of Venezuela keeps fair relations with several US companies, except Exxon Mobil (whose CEO Rex Tillerson decided to leave the country after Chavez introduced the first reforms in the oil market). Exxon Mobil lost billions leaving Venezuela for purely racist and political reasons. All other companies stayed in Venezuela, paid a bit more taxes and kept making great profits. The higher income of the Venezuelan state has funded endless social programs that have lifted millions from poverty, given healthcare, education, housing and expanded the demand/consumption making the whole national economy grow for many years.
Don't try to get crazy with economic indicators. The reason why Venezuela is boycotted is strongly political and often against US companies' interests (like the sanctions): the US cannot accept that a Latin American country is free and independent, the example is too dangerous for their hegemony. What if others followed? That's why also the Petro is under attack.

There is a decent amount of fantasy and improvisation in this thread. Looks like some people "imagine" things and believe their own vague ideas a bit too much: is it the new fact-less, evidence free, social media insult based, fictional information model so successful in the "free world" lately? Good luck with that.

That's wrong. Even for all investment of these three countries 100 billion dollars is probably an exaggeration. But anyway, what's your source?

To throw good money after bad? Basically all observers agree that China is ever more hesitant to invest substantial amounts of new money and also from Russia there are coming cautionary signs. (India isn't heavy into Venezuelan investment.)

Definitely those countries won't need petros to do business with Venezuela. Venezuela is so dependent on China and Russia that it isn't in any position to impose the use of petros as a condition for business.

That depends much on what the real aim is and who the principal owners are going to be.

well, what you're saying is really interesting, but i don't find on internet some prove about this. 100 billions dollars in a lot of money! Where can i find this info? And what about instead the money invested in defaulted bonds?

I have read the 17 pages of this forum on the Petro, and I´ve found that politics has been given the primacy over technical matters. But that´s ok. That´s how it should be in the case of this cryptocurrency. Knowing that Petro is based on NEM is enough for me. The possible inconsistencies in the White Paper, whether the Petro is backed by a barrel of oil, judgements on Venezuela´s government, etc. are of little importance. 
I am going to make an offer to buy Petro. Here´s why:
On one hand, the U.S. and Europe want Venezuela´s petroleum, but on the other hand, so do China, Russia and India. These three countries have investments for more than 100 billion dollars in the production of Venezuelan oil. They also supply a great part of Venezuela´s imports and foreign loans. Moreover, China and India purchase an increasingly large percentage of Venezuela´s oil exports.
The U.S. wants to overthrow Venezuela´s government and has imposed sanctions that tend to impede Venezuela´s international commerce and its financial activities; China, Russia and India want to uphold Venezuela´s government and help it to overcome U.S. sanctions. Therefore, these three countries will consider a purchase of 5 billion dollars in Petro (which they will need to do business with Venezuela) a relatively small additional investment to defend their interests in that country …and the Venezuelan government will not do anything as irrational as the emission of 100 million more Petro, which would cause the collapse of this important financial instrument and the loss of the support of Petro´s principal owners.
So, Petro is going to be a hit.

This is exactly what I have been suspecting. It is mainly just another coin which will have its reason to be in the hype that will surround it. And in the end most of the buyers may end up being just bagholders.

the venezuelan government said they will use the NEM blockchain a month ago.
what do you expect in one month? a more secure, private, untraceable blockchain?
done, now kill yourself.

You cut out my argument:

Good example, illustrating my point: The WFP project did what SUPCACVEN wasn't doing so far:


But maybe we leave it at that: It's a minor point anyway.

you're right. perfect.

try this:
use the "NEM nano wallet" with the wallet file created with the software "Petro Wallet".
it should connect and work the same.

but you said: "It's just an indication of the level of technical competence."
¿butthurt?

that doesn't matter, that's not the point.
if you want good examples, just go to the NEM web site, partner companies.

The United Nations agency is using ethereum’s technology to fund food for thousands of refugees.

done, now kill yourself.
back to my ignore list.

Maybe at some point I will (when it will be possible to actually buy the tokens). I would place it in the first post, so it's visible and we can easily copy-paste the link.

I have installed the Petro wallet (nano wallet rebranded) without problems and finally have my Petro Address.

It's still not possible to buy the Petros though. I suppose that the actual delivery of tokens will start in the second stage (ICO) starting from 20th March.

https://i.imgur.com/TRbzvOf.jpg

-5 to the ICO start

I'm a great fan of open source and it's fine that Venezuela builds on an existing project. They would have shown technical competence by improving on it and making it for instance more user friendly for those people who are new to the cryptocurrency world and first of all interested in the petro. But I expect there to be future releases moving into that direction.


Wrong example. There is no link between KodakCoin and the former technical competence of Kodak:


https://www.finder.com.au/kodakcoin-is-a-failed-ico-rebranded-under-kodak-name

a "whistle blower" (CEO of a private company) that doesn't show or publish anything.
a "whistle blower" that left the country without any problem and without a capture order by the venezuelan government.
haha!! lmao.

i told you, waste of time.
and that's the terrorist opposition we have in Venezuela.

I don't even know why we even reply to this guy: he's just a troll, knows nothing and lies all the time. It's wasted time for everybody.

a blockchain and its software from scratch could take a few years of development.
Venezuela need something right now.
the nem project and their software is open source so other can use it too.
that's the point of a "open source" project, hater.

KodakCoin will use the Ethereum blockchain platform.
that indicate the level of Kodak technical competence?
or you just butthurt and have to criticism every detail?

update:
it seems that kodakcoin is not linked to the old kodak company.

This is the one of the most ridiculous things you've written so far, it proves you have no idea what you're talking about. "Whistle blowers" publish evidence of wrongdoing: it's the definition of whistle blower. They had no access to the data, therefore they had no evidence of anything (and obviously never showed any).

Sorry man, your arguments are always more desperate.

But it isn't. If you read through the official documents (presidential decrees, white paper, contract, as I did) you will see there is no mention at all of such a promise.


You are correct: A country can become insolvent and default on its debts even if it has huge natural assets. And natural assets are of not much value as long they are not extracted.

Mate stick to BTG from $400 to $62....I see you comment alot on this topic but only negative thngs lol...why you here? probably FOMO!!!

No legal problem at this point. It's just an indication of the level of technical competence.