Topic: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela - page 59. (Read 28500 times)

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Ja Ja Ja, People can vote but not is legal and full tramps, The ONU doesn't recognize this elections, and Maduro it´s a Dictador, Asamblea Nacional Constituyente (Cubana) too.

If they bid without any deposit placed its very different activity to a live market.   Its feasible that many people could express an interest as the oil market is very large but really the amount of actual holders to any crypto standard matters far more.   For diversity and stability, depth of market is quite important

if everything finally goes fine with the petrocoin (without technical issues),
then the petrocoin will start circulating and some people will buy it and use it,
not matter how much you scream "don't buy petrocoins because i say so" .
that's a fact.
so, don't waste the time of real investors with the offtopic and the anti-venezuelan nonsense.
if you don't like the petrocoin, don't buy it, simple.
https://media.giphy.com/media/d3mlE7uhX8KFgEmY/giphy.gif

the petrocoin train is coming to the station.
will you take or miss the train?
https://media.giphy.com/media/Smp7lmVqA0gXS/giphy.gif

186306 intentions means either an individual or a company so whats your point on that? intentions indeed is not confirmed revenue yet, as I expect alot of those who showed interest in the first place to back up but others will take their place for sure...Now my main focus is to make a deep research on everything about venezuela before I am requested to make a payment...

It depends what crossed 5 billion dollars. If it is just the non-binding intentions to buy petros you have to indicate to register, this doesn't consitute a success. Looking at the timeline of the claims I assume that only those non-binding intentions crossed 5 billion. There is no primary source at all where Maduro, the Superintendent or some other official links those 5 billions to certified offers. Nowhere is explained what kind of criterium offers have to pass to count as certified. Finally, Maduro spoke of 186.306 "offers in intentions to buy", not people making offers.

It is a country that is steeped in Venezuela. Umudunu looking for petro but i do not think he can save it.

No problem, I will update you guys...

Thanks for that information. If you get your petros it would be nice if you could tell us about the price.

I did receive the contract (3 pages in spanish) where you got to put your thumbs fingerprints....All done and sent

I thought so. So you registered at the website your intention to buy petros for a certain amount of other currencies and that was it. You didn't receive a contract you were asked to print out, sign, and send in with a number of scans of personal documents, did you?

It means that I followed the protocol and I believe I am part of the 180000+ people that President Maduro claimed bidded for the Petro!!!
No payment yet but I believe its coming sooner than later...Cheers

Go to the official website and click on presale and follow steps...

You "jumped in head first", does that mean that you bought petros? How did you do that? Did you register at elpetro.gob.ve? What else did you do?

If it is true they already grossed 5 billions dollars which makes it an instant success,now lets make some simple calculations...If they grossed 5 billions dollars for El Petro by 180000+ people that average an investment of $27,777.7777 per person, very intresting don't you think, cause that implies that  wealthy people invested and few regular small investors,know that rich people are often informed of the right things to invest money in....Those talking about politics are lost, nothing is perfect and Maduro is far from perfect but force is to recognized that this man has the best political business vision of our era, the Petro might fail it might aswell be the biggest success in crypto thus far but to find out and profit you got to try it and belive me I jumped in head first...I have a good feeling with this one...Guys saying its centralized listen at this point all coins are centralized, look China if a state decide to ban a crypto thr business is over so Venezuela doing this type of move is huge, everybody looking....Cheers

I wouldnt dispute Petro will launch and be used.   An entire country is backing its usage, no other crypto got this much support so I imagine it will achieve this aim.    The discussion really is on development, in crypto its normal to foster a developing economy and that expands perhaps even beyond sight of its creators.

So does the currency appreciate or depreciate, maybe its tied to oil prices but like you say Petro is in motion regardless of backing so perhaps that is not a factor.

Any new entrant especially of this size can expect intense discussion, its part of what should be expected.  Price discovery is partly perception and expectations.

this is a really good question! This is a crypto different from the others! How can people expect a pump? even a X5 pump?
I think that the real purpose for this coin is to pay the bondholders..

It could. And it could be lower, even much lower, if the project doesn't succeed.


Probably. Remains to be seen, by how many.


Nothing indicates that the petro will be accepted for these purposes "from day 1". As according to the white paper the petro will be accepted for these purposes with a discount of at least 10% this promise only is relevant for the case that the petro will be less than an outright success. Only if the petro trades at least 10% below par with a barrel of Venezuelan oil it can be of any interest to use it for e.g. tax purposes with the acceptance price given by the formula in the white paper. The promise therefor is no incentive for a large adoption. (As long as you trust the Venezuelan government - I wouldn't - it gives you some assurance that losses might be limited.)

This in itself will only result in big numbers if trading partners first want acquire petros and then pay for Venezuelan oil with them. Many won't.  

There might be private negotiations where investors are offered those discounts. (Or not.) So far there is no way to secure them for investors who want to buy petros through the official way indicated on the elpetro.gob.ve website.

They surely could. Actually I expect the government to exert pressure in this direction if they don't do so freely.

It could. I rather expect the government to give out menes (minimum unit) as bonuses. If it really would switch to pay public employees and pensioners in petros (menes) in full this probably would clash with the promise of a limited supply of petros.


There is a promise not to increase the amount of petros, but so far no guarantee. One cannot speak of an anti-inflationary nature of the petro therefor. Especially if the government embarks on a wider use of the petro (for instance by paying salaries with petros) it might break the promise. There is no guarantee either that the petro will not become as volatile as other cryptocurrencies. It would be less convenient and safe than US dollars then.

I understand your point, but why then do things to the races? what is the desire? Why do things wrong? and why they do not listen to the tips, the Whitepaper is wrong! Understand and take advice, everything is doing very wrong and if everything is wrong why do you support that? you are a developer? or are you learning blockchain?

Petro was announced in December 2017. How many crypto projects have you seen developed in such a short time? None.
They are fighting against time and it is true that they are working in record times to deliver an unprecedented currency. Petro's WP has always been presented as a BETA.
I personally prefer that they take all the time they need to deliver something good and stable. But i also understand that they need it asap, and they will do whatever it takes to be out in the market asap. Updates will come.

Venezuela is under heavy attack, if you ignore this context you will never understand what Petro is about and its development. This is not a comfortable startup in San Francisco trying to make some money, it's a government that is introducing a new currency in its legal, financial and commercial system. The aspects involved here are not just technological. Experts in administration, law, public and private finance, banking, blockchain technology and more have been involved to create something that has never been done before.
I strongly believe that this is a great project with huge potential. I cannot promise this is going to succeed because the enemies of this project are very powerful, and Petro has many more enemies than Bitcoin has ever had. But as we know, blockchain is a technology that works around big centralised powers and was conceived exactly with that in mind, so it CAN work.

I suggest this approach. Skepticism and questions are ALWAYS good. Lies, smears, bias, ignorance, FUD aren't good. Stick to the facts, be curious.

Look at the truth, politics does not interest me, what worries me is that I read everything, the Whitepaper and everything that has to do with the Petro, the truth, at one time I thought that this VAT would be the way out of the economic crisis. , but why do people look for a token or ico instead of the currency? Do not you think it was better to do a project with Airdrops? where instead of giving in each Airdrop that people can trade with Bs? because if you go to Localbitcoins, you know very well that it will be bought at the price of a black dollar, and many people do not have the money for that, in Venezuela there is still a possibility, there are many professional engineers who handle this. the technology (not the Bolivarian or Cuba), the National Public Universities, UCV, USB, UC, LUZ, ULA, UNET, why do they let so many talents go? what they are doing can be improved, this has no privacy, it has a totally centralized tint, it is not affiliated with recognized exchanges, it will never reach a big market if it is not in Big Exchanges, if you know that you know it is like that ... Remember that It's the riches of a nation that are driving, I think the president has no idea about this technology, but you do, and you know that he has no legs or head, I am not a spammer, but the truth is that I want me to you convince that it really is like that. You have a real technical document, that Whitepaper you apologize, but the whitepaper was made by a kindergartner? because it's very bad, I'm telling you, so you can correct it, if you need help, ask it! nobody knows everything, but if you recognize that this lack of professional help to seek help is not cowardly, believe me this technical document is shameful. I recommend that you change this quickly, delete it and do a cryptocurrency, but from token or ico to currency? It is very impossible! If you do not believe me, investigate a little more. You also will not put the algorithm because you know it's the easiest thing that exists, a 5-year-old can make a coin in 5 minutes with an ERC20 algorithm, and you know ... I really want this recommendation to reach whoever has to arrive and achieve to correct.

Why can not Petro be bought with Bolívares? and why did they do it with the ERC20 algorithm if it is the easiest? why not an X13, X16 or X17? Why is it a token and not a cryptocurrency? I also do not see a multifirm algorithm, I do not see a burn algorithm .... Also, there is no market volume at the Exchange House recognized ... Please explain why the Whitepaper is so poor?