Topic: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela - page 6. (Read 28498 times)
December 13, 2018, 09:25:16 PM
I gave up few months expecting development and till this day nothing new to save the scam, Maduro stole lot of money I personally invested 12 ETH at the time for a value of $5000 it is painful, now everybody Ho invested are in a group in telegram trying to exchange the PETRO/NEM onto the new scam...I have a question where is the topic moderator Tasseenb?
December 13, 2018, 02:12:24 PM
December 13, 2018, 02:04:06 PM
In Venezuela there were no diapers for babies and they had to be imported.
So...
Once upon a time there was a Venezuelan regime that, having a guaranteed market, decided to set up a factory for diapers called "Guayucos", for which he set up a factory with Chinese advice.
A diaper had not yet left the factory and already the president of that regime was saying that with the success that was going to have the best was to set up a factory to make diaper factories.
Well, anyone who knows a little venezuela knows how to end all the stories that this nefarious regime begins.
... they had the market, the idea was good, but it was them.
So...
Once upon a time there was a Venezuelan regime that, having a guaranteed market, decided to set up a factory for diapers called "Guayucos", for which he set up a factory with Chinese advice.
A diaper had not yet left the factory and already the president of that regime was saying that with the success that was going to have the best was to set up a factory to make diaper factories.
Well, anyone who knows a little venezuela knows how to end all the stories that this nefarious regime begins.
... they had the market, the idea was good, but it was them.
December 13, 2018, 01:40:11 PM
Pensioners reject payment of bonuses in Petros. "I want Maduro to explain to me how I'm going to buy food and medicine"
By: Aporrea-Agencias
08-12-18.-The pensioners of the Venezuelan Institute of Social Security received the payment in Petros of the third month of bonuses offered by President Nicolás Maduro, but older adults reject this measure, which in his opinion, is inconsistent, outlined the El Universal portal.
"Older adults demand full payment and cash with sovereign bolivars," said Luis Cano, representative of the Defense Front for Retirees, Pensioners, Senior Citizens and Elders.
He affirmed that the president "released that announcement as everything he does, without consulting or taking into account the conditions of Social Security pensioners, as most are not familiar with digital technologies."
The pensioners showed their disagreement with the use of the digital currency that the government intends to impose.
"I want Maduro to explain to me how I'm going to buy food and medicines with petros because as far as I know peddlers, shops and pharmacies charge in bolivars," said María Rodríguez, 74, of age.
Pedro Arias, of 80 years, denounced that in a State banking agency, where he receives his pension, "they are not clear" how they will be paid.
"Nobody asked me if I wanted to save in petros," said Josefina Soto, 68, according to the Ecuado Cocuyo website. He expressed that the process to make transactions through the Home page is "complicated" and it is thanks to his daughter how he can access. "If I can do it, I'll turn it into bolivars. I need the money for day-to-day shopping, "he said.
By: Aporrea-Agencias
08-12-18.-The pensioners of the Venezuelan Institute of Social Security received the payment in Petros of the third month of bonuses offered by President Nicolás Maduro, but older adults reject this measure, which in his opinion, is inconsistent, outlined the El Universal portal.
"Older adults demand full payment and cash with sovereign bolivars," said Luis Cano, representative of the Defense Front for Retirees, Pensioners, Senior Citizens and Elders.
He affirmed that the president "released that announcement as everything he does, without consulting or taking into account the conditions of Social Security pensioners, as most are not familiar with digital technologies."
The pensioners showed their disagreement with the use of the digital currency that the government intends to impose.
"I want Maduro to explain to me how I'm going to buy food and medicines with petros because as far as I know peddlers, shops and pharmacies charge in bolivars," said María Rodríguez, 74, of age.
Pedro Arias, of 80 years, denounced that in a State banking agency, where he receives his pension, "they are not clear" how they will be paid.
"Nobody asked me if I wanted to save in petros," said Josefina Soto, 68, according to the Ecuado Cocuyo website. He expressed that the process to make transactions through the Home page is "complicated" and it is thanks to his daughter how he can access. "If I can do it, I'll turn it into bolivars. I need the money for day-to-day shopping, "he said.
December 12, 2018, 02:04:12 PM
I would much prefer this project or just about any blockchain had the confirmation of proof of stake or similar. I hear many criticisms of various types but thats the one that most involves a population in all sections of a crypto network
At this point they should just get their revenue up, I hear they have Russian backing well I hope that includes the deployment of staff able to run a refinery as efficiently as possible. If the cost of production exceeds the market price as it might right now then the asset has no operational worth to them, its not a backing to anything really.
Oil should be at $100 a barrel if price reflected inflation in the dollar, I do imagine it will end up there but the problem of costs will be ongoing. I believe in a free market not governments to manage costs, if someone wants to risk their money on a challenging situation but with these great reserves let them. Do PSA, do something at least
I was assuming like alot of crypto starts off as work in progress, a project underway that gradually takes load on. When you look how many desperate people there are in that country and the benefits technology could have for them, I wish it could be true but Im not saying oh yes this is certainly in operation. I hear nothing so I'm very disappointed, there is no other project or blockchain which had this giant national scale of backing announced and in theory it was very exciting how amazing an example for all of crypto it could have been but what happened to it I dont know. Maybe this is normal in Venezuela, just words and speeches, I dont live there but anywhere else it would not be acceptable to not have examples underway by now at least.
Unfortunately thats all its been so far unless it was tried then hidden because it didn work and I've never heard of real use or real positives actually occurring
Quote
money for extraction, which Venezuela doesn't have
Outside of digital technology, I do already recognise the big challenge Venezuela has is in efficiency of operations. Its not just extraction but the refinement which costs alot also, they used to outsource this to USA or similar Its a challenge across the whole commodities sector, sometimes a resource is there but its just not viable for profitable operation and profits matter even in a government dominated situation. Venezuela has the largest proven oil resources in the world and it seems a great cliff to climb to make use of them.At this point they should just get their revenue up, I hear they have Russian backing well I hope that includes the deployment of staff able to run a refinery as efficiently as possible. If the cost of production exceeds the market price as it might right now then the asset has no operational worth to them, its not a backing to anything really.
Oil should be at $100 a barrel if price reflected inflation in the dollar, I do imagine it will end up there but the problem of costs will be ongoing. I believe in a free market not governments to manage costs, if someone wants to risk their money on a challenging situation but with these great reserves let them. Do PSA, do something at least
I was assuming like alot of crypto starts off as work in progress, a project underway that gradually takes load on. When you look how many desperate people there are in that country and the benefits technology could have for them, I wish it could be true but Im not saying oh yes this is certainly in operation. I hear nothing so I'm very disappointed, there is no other project or blockchain which had this giant national scale of backing announced and in theory it was very exciting how amazing an example for all of crypto it could have been but what happened to it I dont know. Maybe this is normal in Venezuela, just words and speeches, I dont live there but anywhere else it would not be acceptable to not have examples underway by now at least.
Unfortunately thats all its been so far unless it was tried then hidden because it didn work and I've never heard of real use or real positives actually occurring
December 07, 2018, 01:51:24 PM
wonderful
https://explorador.petro.gob.ve/address/pNHYVAN6DQrstcsD5wRuU7cQDcv8axxTth
the miracles of Nicolás
https://explorador.petro.gob.ve/address/pNHYVAN6DQrstcsD5wRuU7cQDcv8axxTth
the miracles of Nicolás
Wow this address has -10 petros?? That's funny as shit! Hopefully its just a glitch in their block explorer.
December 07, 2018, 01:48:10 PM
wonderful
https://explorador.petro.gob.ve/address/pNHYVAN6DQrstcsD5wRuU7cQDcv8axxTth
the miracles of Nicolás
https://explorador.petro.gob.ve/address/pNHYVAN6DQrstcsD5wRuU7cQDcv8axxTth
the miracles of Nicolás
December 07, 2018, 01:26:28 PM
Only fools or indoctrinated believe Maduro's lies. It seems they never learn. I guess it's because of those exposed at the beginning.
December 06, 2018, 10:46:31 PM
Based on there being entries in the block explorer, it would appear they have a real coin now, though there's no downloadable wallet and you have to upload ID to them to see purchase options (no way in hell I'm doing that).
The coin has a premine of 100 million, which is based on the oil reserves, so I assume block rewards (for mining or for staking, both unachievable at present) will come from a pool set aside out of this 100 million.
Since the client code is inauditable I would say this is a really bad idea. First of all, they couldn't sell trading partners on this idea before -- what makes them think they're going to now? Unless their development team holds the hands of everybody willing to do this through the entire process (to make sure they do not lose their petros), I would think most countries are just going to avoid doing business with Venezuela altogether. Its kind of like a self-imposed embargo at this point.
The coin has a premine of 100 million, which is based on the oil reserves, so I assume block rewards (for mining or for staking, both unachievable at present) will come from a pool set aside out of this 100 million.
Since the client code is inauditable I would say this is a really bad idea. First of all, they couldn't sell trading partners on this idea before -- what makes them think they're going to now? Unless their development team holds the hands of everybody willing to do this through the entire process (to make sure they do not lose their petros), I would think most countries are just going to avoid doing business with Venezuela altogether. Its kind of like a self-imposed embargo at this point.
December 06, 2018, 10:08:50 PM
Hello to all
I am from Russia, our government supports the policy of President Maduro.
And in every way it will contribute to the economic development of Venezuela.
I personally like the idea of a national cryptocurrency
thanks for the supportI am from Russia, our government supports the policy of President Maduro.
And in every way it will contribute to the economic development of Venezuela.
I personally like the idea of a national cryptocurrency
Venezuela to sell oil only for petro cryptocurrency starting 2019
December 03, 2018, 02:44:11 PM
Hello to all
I am from Russia, our government supports the policy of President Maduro. And in every way it will contribute to the economic development of Venezuela.
I personally like the idea of a national cryptocurrency
I am from Russia, our government supports the policy of President Maduro. And in every way it will contribute to the economic development of Venezuela.
I personally like the idea of a national cryptocurrency
December 01, 2018, 05:57:02 AM
The Scam with the Petro that Organizes Maduro against the Working People
By: Roberto López Sánchez | Friday, 11/30/2018
Nicolás Maduro is running a big scam organized from the power against the income of working people. We refer to the campaign that induces to "save buying petros", which is sold as the "main saving mechanism existing today in Venezuela".
Let's do an exercise of calculating what a citizen who bought 1 Petro would get on the first of September, paying attention to the "savings offer" announced by President Maduro. At that time, the aforementioned citizen of our example paid for the petro the amount of 3,600 sovereign bolivars, which in turn were equivalent to 60 dollars in the parallel market. But suppose also that another citizen, who ignored Maduro, and had that amount of money, decided to buy $ 60 as a savings mechanism and protect their bolivars, as do thousands and thousands of Venezuelans since inflation became a sprayer of our income.
For tomorrow first of December of 2018, the first citizen of the example, can sell the petro that it acquired three months ago by 3.600 Bs.S. and obtains the amount of 9,000 sovereign bolivars (an amount that is 2.5 times higher than the one he invested). But it turns out that our second citizen, who bought 60 dollars for the same amount of 3,600 Bs.S., today can sell them for the amount of 29,400 sovereign bolivars (an amount more than 8 times higher than the one he invested, calculated at 490 sovereign bolivars per dollar today in the parallel market).
It is more than evident that the alleged saving mechanism promoted by the government of Nicolás Maduro is nothing more than a scam organized by the executive power, and that in fact Venezuelan workers are encouraged to lend themselves willingly to being scammed by the government, who will expropriate the value of their sovereign bolivars, with a "certificate" from 1 Petro, and will return them highly devalued within a few months.
Because the prices in Venezuela rise to the rhythm of the parallel dollar, not at the rate of the devaluation of the petroleum that Maduro imposes with his magic wand. The products become more expensive according to how the dollar becomes more expensive. It is evident that the best saving mechanism is to buy dollars, euros, pounds, yuan, which are coins of world circulation and can be traded at any time and anywhere. "Save in petros" actually means throwing the money and ruining it.
According to Maduro, 1 petro to the first of September 2018 was equivalent to 60 dollars in the parallel market. After three months, the same petro is equivalent to about 18 dollars in the parallel market. That is, the same petro is devalued in relation to the parallel dollar.
It is evident that the sovereign bolivar is not anchored to any petro, and that it is devalued at the pace imposed by the parallel market of the dollar. And it is also evident that the petro is no more than an obstacle that the Maduro government places in order to contribute to further disrupt the general chaos into which the Venezuelan economy has sunk.
The working class and the Venezuelan people in general should be aware of this continued scam organized by President Maduro. It must reject and denounce this scam, and not fall into that false propaganda of "save in petros", because it will mean the accelerated loss of the scarce savings with which a citizen of the common people can count.
Maracaibo, Land of the Sun Beloved. November 30, 2018
https://www.aporrea.org/trabajadores/a272531.html
By: Roberto López Sánchez | Friday, 11/30/2018
Nicolás Maduro is running a big scam organized from the power against the income of working people. We refer to the campaign that induces to "save buying petros", which is sold as the "main saving mechanism existing today in Venezuela".
Let's do an exercise of calculating what a citizen who bought 1 Petro would get on the first of September, paying attention to the "savings offer" announced by President Maduro. At that time, the aforementioned citizen of our example paid for the petro the amount of 3,600 sovereign bolivars, which in turn were equivalent to 60 dollars in the parallel market. But suppose also that another citizen, who ignored Maduro, and had that amount of money, decided to buy $ 60 as a savings mechanism and protect their bolivars, as do thousands and thousands of Venezuelans since inflation became a sprayer of our income.
For tomorrow first of December of 2018, the first citizen of the example, can sell the petro that it acquired three months ago by 3.600 Bs.S. and obtains the amount of 9,000 sovereign bolivars (an amount that is 2.5 times higher than the one he invested). But it turns out that our second citizen, who bought 60 dollars for the same amount of 3,600 Bs.S., today can sell them for the amount of 29,400 sovereign bolivars (an amount more than 8 times higher than the one he invested, calculated at 490 sovereign bolivars per dollar today in the parallel market).
It is more than evident that the alleged saving mechanism promoted by the government of Nicolás Maduro is nothing more than a scam organized by the executive power, and that in fact Venezuelan workers are encouraged to lend themselves willingly to being scammed by the government, who will expropriate the value of their sovereign bolivars, with a "certificate" from 1 Petro, and will return them highly devalued within a few months.
Because the prices in Venezuela rise to the rhythm of the parallel dollar, not at the rate of the devaluation of the petroleum that Maduro imposes with his magic wand. The products become more expensive according to how the dollar becomes more expensive. It is evident that the best saving mechanism is to buy dollars, euros, pounds, yuan, which are coins of world circulation and can be traded at any time and anywhere. "Save in petros" actually means throwing the money and ruining it.
According to Maduro, 1 petro to the first of September 2018 was equivalent to 60 dollars in the parallel market. After three months, the same petro is equivalent to about 18 dollars in the parallel market. That is, the same petro is devalued in relation to the parallel dollar.
It is evident that the sovereign bolivar is not anchored to any petro, and that it is devalued at the pace imposed by the parallel market of the dollar. And it is also evident that the petro is no more than an obstacle that the Maduro government places in order to contribute to further disrupt the general chaos into which the Venezuelan economy has sunk.
The working class and the Venezuelan people in general should be aware of this continued scam organized by President Maduro. It must reject and denounce this scam, and not fall into that false propaganda of "save in petros", because it will mean the accelerated loss of the scarce savings with which a citizen of the common people can count.
Maracaibo, Land of the Sun Beloved. November 30, 2018
https://www.aporrea.org/trabajadores/a272531.html
November 20, 2018, 05:44:42 AM
the theater, the farce and the deception continue.
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MAGALY PEREZ
11/19/2018 05:30 am
Caracas.- "Experts view the petro as an innovative project that will open the doors to economic development."
This was stated by President Nicolás Maduro through his twiter account, where he shared the impressions of the CEO of Blockchain, Lluís Mas Luque who participated in the First International Cryptoactive Meeting held in Caracas.
For the director Mas Luque the petro is a cryptocurrency that has a well-defined White paper since it is linked to certain assets that we can all recognize such as gold, diamond and iron.
He also said that it is a hybrid because it tries to reflect confidence in citizenship and a platform where future business can be done.
He added that they are clearly betting on what blockchain is.
He pointed out that they are going to work "so that Venezuela is a world capital of what the crypto-world is, a free world, a world of cooperation".
http://www.eluniversal.com/economia/26130/maduro-para-los-expertos-el-petro-es-la-respuesta
------------
https://www.facebook.com/blockchaininstitutetechnology/?ref=page_internal
The expert and his company has a facebook that only gives like the same. How pathetic.
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MAGALY PEREZ
11/19/2018 05:30 am
Caracas.- "Experts view the petro as an innovative project that will open the doors to economic development."
This was stated by President Nicolás Maduro through his twiter account, where he shared the impressions of the CEO of Blockchain, Lluís Mas Luque who participated in the First International Cryptoactive Meeting held in Caracas.
For the director Mas Luque the petro is a cryptocurrency that has a well-defined White paper since it is linked to certain assets that we can all recognize such as gold, diamond and iron.
He also said that it is a hybrid because it tries to reflect confidence in citizenship and a platform where future business can be done.
He added that they are clearly betting on what blockchain is.
He pointed out that they are going to work "so that Venezuela is a world capital of what the crypto-world is, a free world, a world of cooperation".
http://www.eluniversal.com/economia/26130/maduro-para-los-expertos-el-petro-es-la-respuesta
------------
https://www.facebook.com/blockchaininstitutetechnology/?ref=page_internal
The expert and his company has a facebook that only gives like the same. How pathetic.
November 12, 2018, 07:19:22 PM
that was a news only for those venezuelan who invested or will invest in the "Petro savings certificate" with the venezuelan currency (bolivars).
that news is not for a foreigner that bought or will buy petros with a cryptocurrency.
the best you can do is ignore the user axioman.
that news is not for a foreigner that bought or will buy petros with a cryptocurrency.
the best you can do is ignore the user axioman.
The beauty is: Nobody can change his “petros” into international currencies or other cryptocurrencies. Nobody except the government has petros:
- Not those who like criptoviagra thought they bought petros in the first round.
- Not those who buy a “certificate of buying petros” at the counter of “SUNACRIP”.
- Not those who buy “petros” over the web.
- And of course not those who buy "Petro savings certificate" with bolivars.
November 10, 2018, 04:44:59 PM
In the last week 1.6 billion sovereign bolivars were traded by @LocalBitcoins. They are equivalent to 1,076 bitcoins or 6,895,008 dollars. Only in #Venezuela, more bitcoins are traded weekly than in the United States or throughout Europe.
People in Venezuela do not want Petros
People in Venezuela do not want Petros
November 10, 2018, 02:44:00 PM
It is a total and absolute displeasure to propose in OPEC the Petro to commercialize oil # 9Nov
As "a total and absolute dislate, which will not materialize," said the economist, oil expert and professor at the Central University of Venezuela, Rafael Narváez, the proposal that Venezuela will take to OPEC to use Petro to market the oil.
He warned that this can only be proposed by a man like Rafael Quevedo, who besides being unaware of the technique, the market, the economy and the oil policy, also ignores the history of the Organization of Petroleum Exporting Countries (OPEC), that it remembers that a similar proposal was made starting the second government of Carlos Andrés Pérez with the Pound Sterling and the Euro, affirming that the Organization evaluated these two projects and issued a report in which it determined that it was
negative, warning that now much less will the Petro accept.
He expressed that if General Quevedo is going to propose that in OPEC, in the next ordinary meeting that is in December he will do "the role of ridiculous", because nobody will want to accept that, since they do not even know the term ratifying that " it seems absurd and total and absolute dislate ", adding that this can only be done by someone who does not know how the market behaves, whether we like it or not, the dollar is still the currency for commercial transactions of oil and its derivatives in the international markets.
Narvaez recalled that President Maduro announced in a national press conference in 2017 that from now on Venezuela would use the Yuan as the main currency for all its commercial operations and basically oil.
"But so far, we have not sold even one barrel of oil in yuan, that is to say that of 159 liters that has one barrel of oil, not a liter we have bought or sold in yuan, so that is pure and simple paraphernalia, distribution of paper, a carnival, but that is totally unrealizable, "he said in a radio interview Narvaez is an oil economist, professor of pre and postgraduate of the Central University of Venezuela and Head of the Chair of Economics and Petroleum Policy.
https://www.elimpulso.com/2018/11/09/rafael-narvaez-es-un-dislate-total-y-absoluto-proponer-en-la-opep-el-petro-para-comercializar-petroleo-9nov/
They do not know what to invent anymore
As "a total and absolute dislate, which will not materialize," said the economist, oil expert and professor at the Central University of Venezuela, Rafael Narváez, the proposal that Venezuela will take to OPEC to use Petro to market the oil.
He warned that this can only be proposed by a man like Rafael Quevedo, who besides being unaware of the technique, the market, the economy and the oil policy, also ignores the history of the Organization of Petroleum Exporting Countries (OPEC), that it remembers that a similar proposal was made starting the second government of Carlos Andrés Pérez with the Pound Sterling and the Euro, affirming that the Organization evaluated these two projects and issued a report in which it determined that it was
negative, warning that now much less will the Petro accept.
He expressed that if General Quevedo is going to propose that in OPEC, in the next ordinary meeting that is in December he will do "the role of ridiculous", because nobody will want to accept that, since they do not even know the term ratifying that " it seems absurd and total and absolute dislate ", adding that this can only be done by someone who does not know how the market behaves, whether we like it or not, the dollar is still the currency for commercial transactions of oil and its derivatives in the international markets.
Narvaez recalled that President Maduro announced in a national press conference in 2017 that from now on Venezuela would use the Yuan as the main currency for all its commercial operations and basically oil.
"But so far, we have not sold even one barrel of oil in yuan, that is to say that of 159 liters that has one barrel of oil, not a liter we have bought or sold in yuan, so that is pure and simple paraphernalia, distribution of paper, a carnival, but that is totally unrealizable, "he said in a radio interview Narvaez is an oil economist, professor of pre and postgraduate of the Central University of Venezuela and Head of the Chair of Economics and Petroleum Policy.
https://www.elimpulso.com/2018/11/09/rafael-narvaez-es-un-dislate-total-y-absoluto-proponer-en-la-opep-el-petro-para-comercializar-petroleo-9nov/
They do not know what to invent anymore
November 09, 2018, 06:23:31 PM
The President of the Republic, Nicolás Maduro, announced on Tuesday, November 6, that
"All those who invest in the Petro savings certificate from today, November 6, until December 31,
will have the possibility to freely convert the Petro that purchases in international cryptocurrency
or any other convertible currency of the world"
"All those who invest in the Petro savings certificate from today, November 6, until December 31,
will have the possibility to freely convert the Petro that purchases in international cryptocurrency
or any other convertible currency of the world"
So if I send him Bitcoin now, I have the possibility to exchange and withdraw back to Bitcoin later?
Revolutionary! Maduro is a wizard with electronic money.
Revolutionary! Maduro is a wizard with electronic money.
that was a news only for those venezuelan who invested or will invest in the "Petro savings certificate" with the venezuelan currency (bolivars).
that news is not for a foreigner that bought or will buy petros with a cryptocurrency.
the best you can do is ignore the user axioman.
November 08, 2018, 01:34:24 AM
If this were a private business, it would have gone broke, had its assets retaken by useful industry and replaced long ago because that path better avoids destruction
Before we had instant worldwide communication by radio and TV, the weak countries were taken over by stronger countries, similar to your failed private business example.History of country and government changes from 5000 BC to current:
https://www.youtube.com/watch?src_vid=ymI5Uv5cGU4&v=-6Wu0Q7x5D0
Nowdays, countries with power to take over weaker countries would have to do it while all other strong countries watch, judge, or interfere. For instance if Russia, US, UK, Israel, or China wanted to take over Venezuela, the other strong countries would see it clearly and act in the best way they can. The political cost is far too great to take over another country anymore so they get left as-is. Now we have 15+ strong countries just watching Venezuela and the best each of them can do is let it be while the citizens starve and/or revolt. I agree this is the best strategy.
I congratulate Maduro for trying to use a new technology to help himself, his citizens, and his country. I think it will be many failed attempts, but most all attempts at positive change are failures at first. This version of his crypto plan is a joke, but much less of a joke than the version he presented 6 months ago. Maybe in 10 years he or his successor will figure it out.
November 07, 2018, 01:19:13 PM
He will gift your freedom back, its a very gracious offer if he were a military dictator as they are not always so generous with such offers. Last news I've been reading on Venezuela government is moves to base a new currency on linking to gold as well as oil.
The only thing easily observable at the moment is the gears of government grind so very slowly, some will die before they ever see progress on their new initiatives. If it had been done more openly we would already be seeing the effects of open distribution of a fixed base currency and some benefit hopefully. As it is people struggle to find a solution between themselves for the ongoing failure of government to regulate its own budgeting, many western countries also have failed to balance a fiscal budget properly in decades.
If this were a private business, it would have gone broke, had its assets retaken by useful industry and replaced long ago because that path better avoids destruction but government can continue forever it seems
The only thing easily observable at the moment is the gears of government grind so very slowly, some will die before they ever see progress on their new initiatives. If it had been done more openly we would already be seeing the effects of open distribution of a fixed base currency and some benefit hopefully. As it is people struggle to find a solution between themselves for the ongoing failure of government to regulate its own budgeting, many western countries also have failed to balance a fiscal budget properly in decades.
If this were a private business, it would have gone broke, had its assets retaken by useful industry and replaced long ago because that path better avoids destruction but government can continue forever it seems
November 07, 2018, 11:18:34 AM
The President of the Republic, Nicolás Maduro, announced on Tuesday, November 6, that
"All those who invest in the Petro savings certificate from today, November 6, until December 31, will have the possibility to freely convert the Petro that purchases in international cryptocurrency or any other convertible currency of the world"
"All those who invest in the Petro savings certificate from today, November 6, until December 31, will have the possibility to freely convert the Petro that purchases in international cryptocurrency or any other convertible currency of the world"
So if I send him Bitcoin now, I have the possibility to exchange and withdraw back to Bitcoin later? Revolutionary! Maduro is a wizard with elecrtonic money.
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