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Topic: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela - page 66. (Read 28500 times)

jr. member
Activity: 137
Merit: 5
This excelent article about the "backing" of the petro is now also available in English:
https://www.caracaschronicles.com/2018/02/27/petro-truly-backed-oil-reserves/

The only problem with caracaschronicles.com is that it's opposition garbage, basically publishing a mix of propaganda, fake news and conspiracy theories in English, for the international gullible consumer.

Read the article, evaluate its arguments. By discounting from the outset all information and reflection made available by sources associated with the opposition and by international mainstream media your are insulating yourself from rational reasoning.
newbie
Activity: 11
Merit: 0
This excelent article about the "backing" of the petro is now also available in English:
https://www.caracaschronicles.com/2018/02/27/petro-truly-backed-oil-reserves/

The only problem with caracaschronicles.com is that it's opposition garbage, basically publishing a mix of propaganda, fake news and conspiracy theories in English, for the international gullible consumer.

So in reality Venezuela is a prospering country?
newbie
Activity: 196
Merit: 0
This excelent article about the "backing" of the petro is now also available in English:
https://www.caracaschronicles.com/2018/02/27/petro-truly-backed-oil-reserves/

The only problem with caracaschronicles.com is that it's opposition garbage, basically publishing a mix of propaganda, fake news and conspiracy theories in English, for the international gullible consumer.
jr. member
Activity: 137
Merit: 5
jr. member
Activity: 137
Merit: 5
this oil is rafined or not ?
Not refined, not even extracted. And the oilfield supposedly to back the petro isn't developed.

There was just published the presidential decree establishing this (fictional) backing and it determines that "the potential development of 5.342 million of barrels (net) of original oil in situ" will form the backing.

If you know Spanish you can read it yourself: http://gacetaoficial.tuabogado.com/gaceta-oficial/decada-2010/2018/gaceta-oficial-41347-del-23-febrero-2018

Of course, the "potential development" of a barrel of heavy oil in an undeveloped oil field of the Orinoco isn't worth 58$. Far from it.
newbie
Activity: 196
Merit: 0
There is a great potential but we dont yet know that potential will be supported by a good open market discovery on price.

What do you mean by that? Petro will be freely exchanged in the market once released. Its price will be determined by that. Its base price will be the oil barrel. I don't understand what your point is here.
newbie
Activity: 196
Merit: 0
It doesn't really matter whether you believe Venezuela is a democracy or not. For an investment look at the governments financial track record.
If you want to crowdfund Maduro regardless of human rights issues, fine go ahead, but you will lose money on this "investment" for sure.

Maduro's personal human rights record is clean. Unlike every US president in the last centuries who has personally ordered invasions, bombings, terrorism, psyops, coups etc. If it was for human rights nobody should invest in anything in the US.

Maduro is an elected President who's gone through a media assassination because the US need to overthrow him (as they tried with Chavez for years), as simple as that. His government has faced the worst siege and aggressions (criminal, financial, commercial and through the mainstream media) a country could get. The information on Venezuela and Maduro is a pure childish caricature, written by Venezuelan opposition, that is funded with millions of dollars by the US (meddling in elections?).
In 2017, 176 people have been killed by the extreme violence initiated by opposition funded gangs in the streets. The opposition ordered to "take the streets' in order to overthrow the elected government. ANY government in the world would have done whatever possible to keep peace. They successfully did it, with the election of the Constituent Assembly that sentenced the political defeat of the opposition violent strategy.

As for your opinion on the investment, well. It's a quite poor.
newbie
Activity: 77
Merit: 0
It doesn't really matter whether you believe Venezuela is a democracy or not. For an investment look at the governments financial track record.
If you want to crowdfund Maduro regardless of human rights issues, fine go ahead, but you will lose money on this "investment" for sure.
STT
legendary
Activity: 4102
Merit: 1454
Max Keiser: "Which of these state sponsored cryptos has the best chance of working?"
https://pbs.twimg.com/media/DW0PcNfXUAAPO9P.jpg

I agree Venezuela has the largest proven oil reserves in the world and is closest to the worlds largest consumer of energy which is USA.    There is a great potential but we dont yet know that potential will be supported by a good open market discovery on price.   I hope so but hope aint always enough!
newbie
Activity: 196
Merit: 0
Very interesting comment by Max Keiser (before the announcement of the Petro) talking about de-dollarisation in the world.
This gives an idea of the size of the game and the reasons why the Petro does not come alone could succeed.

On path to de-dollarization: World tired of funding US military adventurism – Max Keiser
https://www.youtube.com/watch?v=JC7QEqxZCIs
newbie
Activity: 196
Merit: 0
Get out of your propaganda bubble. If you fund the petro, you will fund all of this.

This is garbage. And you even talk about "propaganda bubble"! All millionaires belong to the opposition, almost all private media in Venezuela are controlled by the opposition. There are journalists and politicians openly calling for military interventions and sabotage, defining Maduro a dictator in prime time on tv. There are free elections. Opposition organised coups, funded gangs (guarimbas) that invaded and blocked the streets killing and lynching dozens of people (including policemen) for months.

Please don't be more ridiculous than necessary.

Venezuela is a democracy. And there are elections on 22nd April. Good luck and bye bye.
newbie
Activity: 27
Merit: 1
You are kidding. You have no idea what a dictatorship is and you insult the hundreds of thousands that have been disappeared, raped, tortured, jailed and the millions that have fled countries like Chile and Argentina, you have no idea what a police state is.

Give me a break.

Disappeared? Yes – https://armando.info/Reportajes/DemoPublico/2396
Raped? Yes – https://www.caracaschronicles.com/2016/11/30/afiuni-trial/
Tortured? Yes – https://www.caracaschronicles.com/2017/09/15/torture-in-venezuela/
Jailed? Yes – https://elcooperante.com/preso-por-tuitear-dan-zambrano-el-periodista-que-peco-al-retuitear-criticas-contra-el-gobierno/
Police state? Yes, especially against cryptocurrency minershttps://hackernoon.com/extortion-police-raids-and-secrecy-inside-the-venezuelan-bitcoin-mining-world-6e97a25e7402

Get out of your propaganda bubble. If you fund the petro, you will fund all of this.
newbie
Activity: 196
Merit: 0
[NEWS] Dagong Global Credit Rating (Chinese credit rating agency) gives very positive review of Petro
http://globovision.com/article/calificadora-china-el-petro-ofrece-nuevas-ideas-al-sistema-monetario-internacional (SPANISH)

Please note that DGCR is totally independent from the Venezuelan government. In fact, their current rating of Venezuela's sovereign debt is basically: "rubbish". But of course the Petro is a totally different matter. The success of the Petro is not even linked to a possible sovereign debt default. And the Petro could even help avoiding that, if it works.

I could not find an English article (only Spanish, Chinese and Russian so far), please post it if you find it!
newbie
Activity: 196
Merit: 0
this oil is rafined or not ?

The Venezuelan oil barrel is around 58$ these days. That's the reference price for the Petro. Of course it changes every week, based on the market.
newbie
Activity: 196
Merit: 0
It would be pretty massive if an OPEC country had a globally exchangeable crypto currency.

The Petro is exactly that. It will be globally exchangeable. The oil barrel should only be its base price.
newbie
Activity: 196
Merit: 0
U.S. Senator calls for crackdown on Venezuela’s Petro
https://cryptovest.com/news/us-senator-calls-for-crackdown-on-venezuelas-petro/
why? isn't it supposed to be a shit coin? why so worry about the Petro coin then? lmao.
https://www.dailyrounds.org/blog/wp-content/uploads/2015/10/i-dont-know.jpg

That's a very good point. Mainstream media and US politicians like Marco Rubio (a mafia guy strongly committed with coups and war against Venezuela) feel the need to crackdown on the Petro. Why?
Maybe they fear it could actually work and make their criminal jobs quite harder or, worse, useless.

Coindesk is a wildly racist US website that copy-pastes US propaganda and mixes it with cryptos, so take it as it is: https://www.coindesk.com/u-s-senators-decry-venezuelan-petro/
newbie
Activity: 196
Merit: 0
Sorry i don't buy it. I was born in Argentina and have met many Venezuelans (and many economic crisis). I know what a dictatorship is (I was born in one) and Venezuela is obviously not one.
Not all dictatorships are the same, but if you think Venezuela is so fine and democratic, you should take a trip there. Talk to brown people if you want, run an informal poll and see how much people like Maduro.

You are kidding. You have no idea what a dictatorship is and you insult the hundreds of thousands that have been disappeared, raped, tortured, jailed and the millions that have fled countries like Chile and Argentina, you have no idea what a police state is. You ignore what Venezuela was before Chavez, the thousands killed at the Caracazo. You are a joke, literally. Venezuela is surely a liberal democracy, you just don't like the elected government.
People of the Venezuelan opposition complain all the time and are mostly a bunch of fascists from wealthy environments (not all, but most of them). Their complaints are wildly hypocritical.

Hope the Petro will work, the rest is useless.
jr. member
Activity: 181
Merit: 1
Max Keiser: "Which of these state sponsored cryptos has the best chance of working?"
https://pbs.twimg.com/media/DW0PcNfXUAAPO9P.jpg
jr. member
Activity: 181
Merit: 1
People from 127 countries interested in buying Petros. (February 26, 2018)
https://pbs.twimg.com/media/DXAPn6sX4AAtc6T.jpg
STT
legendary
Activity: 4102
Merit: 1454
The best crypto systems have a market based value determination of worth.  With a link to oil exchange that would still be fairly stable I think, however my impression so far is that a direct conversion of Petro to Oil production is not going to occur.     Even at the largest levels where scale would reduce administration costs?   That part is disappointing to me as these crypto schemes grow most when potential is left open for participants.

However Petro is probably no worse then Ripple or many schemes which control worth themselves.   If Ripple can gain this much already while having a bias to its central body then I dont especially expect less of Petro.   It would be pretty massive if an OPEC country had a globally exchangeable crypto currency.   There is some element to Dollar backing by oil as it is sold denominated in Dollars mostly.
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