Topic: Venezuela Government ICO (Read 508 times)

According to bitcoin.com, Venezuela is planning to buy airplane parts to Russia with the Petro

I don't know, You have to ask him...
Easy these days. LOL.
https://mobile.twitter.com/elonmusk
https://mobile.twitter.com/spacex

I am reviewing the project documents for about 4 hours. It looks like a very comprehensive project, I will invest a little for ICO. Does Elon musk really support this project?

It's Official, Trump has banned U.S. Citizens to trade with PTR.
Guess what?
All Anti-Trump will buy. LOL.

Hilary Clinton will be the 1st.
Jajajajajajaja LOL.

This ban could back-fire drastically. LOL. Jajajajajajaja

https://www.whitehouse.gov/presidential-actions/executive-order-taking-additional-steps-address-situation-venezuela/
http://bitcoinist.com/president-trump-bans-us-citizens-buying-venezuelas-petro/
https://www.bloomberg.com/news/articles/2018-03-19/trump-prohibits-u-s-purchases-of-venezuelan-cryptocurrency
https://www.theverge.com/2018/3/19/17139892/trump-bans-venezuela-nicolas-maduro-national-cryptocurrency-bitcoin-petro
https://www.theguardian.com/us-news/2018/mar/19/trump-venezuela-petro-cryptocurrency-ban-order
https://www.ccn.com/breaking-trump-bans-us-citizens-residents-from-venezuelas-crypto-petro/
https://www.independent.co.uk/news/world/americas/us-politics/trump-venezuela-petro-cryptocurrency-sanctions-maduro-a8264221.html
http://money.cnn.com/2018/03/19/news/economy/trump-bans-venezuela-cryptocurrency-petro/index.html
https://www.cnet.com/news/president-trump-bans-the-use-of-venezuelan-cryptocurrencies-petro/
https://techcrunch.com/2018/03/19/trump-bans-venezuelan-cryptocurrency-in-the-us/
https://oilprice.com/Geopolitics/International/Trump-Bans-Venezuelas-Oil-Backed-Cryptocurrency.html
https://motherboard.vice.com/en_us/article/59jzyn/president-donald-trump-signs-executive-order-banning-venezuelas-petro-cryptocurrency-maduro
https://www.cnbc.com/2018/03/19/trump-issues-action-blocking-us-citizens-from-trading-or-financing-venezuela-cryptocurrency.html
http://www.businessinsider.com/trump-blocks-venezuela-cryptocurrency-petro-2018-3
https://www.trustnodes.com/2018/03/19/trump-bans-us-citizens-transacting-venezuelan-petro
https://www.voanews.com/a/trump-bans-us-use-of-venezuelan-cryptocurrency-/4305856.html
https://sg.finance.yahoo.com/news/breaking-trump-bans-us-citizens-174348611.html
http://www.bbc.com/news/world-us-canada-43466465
https://www.nytimes.com/2018/03/19/world/americas/trump-venezuela-sanctions-petro.html
https://www.washingtonpost.com/business/economy/trump-administration-bans-use-of-venezuelan-cryptocurrency-expands-sanctions/2018/03/19/e6af0ffc-2b70-11e8-b0b0-f706877db618_story.html
https://apnews.com/c9ac4c497d4b4fc885270fde14ef41b7/Trump-bans-US-use-of-Venezuelan-cryptocurrency
https://www.foxbusiness.com/markets/trump-bans-us-use-of-venezuelan-cryptocurrency
https://www.reuters.com/article/uk-crypto-currencies-venezuela-usa/u-s-bans-transactions-with-venezuelas-digital-currency-idUSKBN1GV2AX
http://uk.pcmag.com/news/93905/us-bans-venezuelas-petro-cryptocurrency

Nobody is forcing you, nor pointing a gun at you head.

By law, Venezuela accepts all Top100 cryptocurrencys, how can you loose money if you can take a vacation in Venezuela and pay with PTR, BTC, BCH, ETH, ETC, etc...?
LOL.

Bitcoin was a social / economic experiment,
PTR is also a social / economic experiment...

Everybody knows the world is becoming Digital,
Books or .pdf?
Printed Newspapers or .com ?
16mm film or BluRay?
BluRay or Netflix ?
Analog or Digital?
Physical or Virtual?

Eventually in the future all the money/goods will be digitized, and protected with block chain technology...
There will be Vintage lovers always, vinyl lovers like my self, but that's another story.
Book lovers, vintage camera lovers, etc...

But I think people having paper money could loose.
But that's me. LOL. Jajajajajajaja

PTR is based on NEM, similar to Ripple,
I think/guess the reason a government coin cannot be 100% decentralized, is because Venezuela government could be accused of Money laundry and having Terrorist ties, like it has been accused in the past.
With a Hybrid Traceable coin, they can prove & guarantee to other governments / investors risk free of being accused of money laundry or having terrorist ties.

For example: any government can declare Bitcoin illegal, and accuse you of money laundry & having terrorist ties.
What are you gonna do? LOL. Jajajajajajaja

The future is made of dreams or nightmares. LOL. Jajajajajaja

Most people in the World except USA, use paper money...
Making paper money is $$$, faking paper money is easy, bands making fake money are captured almost every month globally.
Governments have external debt, and need to cut costs to pay the debt, but cannot increase taxes.
Traditional Plastic Money is Not safe enough, and is more $$$, a credit or debit card is cloned every day in the world.
You cannot have a dataphone to accepts plastic money from a friend, like Cash.
eCoins have many advantages.
Different scenario.

A Traceable coin is needed by a Government to reduce crime.
A Government issued coin can never be 100% decentralized, by logic.

It's like Apple vs. Android/Linux or Windows.
Apple is a semi-closed environment, "more secure"
Android and Windows are semi-open environment.

I emphatically recommend not buying the Petro, since it is inconsistent in its definitions in the whitepaper, it lacks the main qualities that cryptocurrencies should have, which are decentralization and that no one can fix a price.

In addition, and the most critical aspect is that the Constitution of Venezuela in its Article N° 12 explicitly states that "Mining and hydrocarbon deposits, whatever its nature, existing in the national territory, under the bed of the territorial sea, in the exclusive economic zone and on the continental shelf, it belong to the Republic, it are public property and, therefore, inalienable and imprescriptible. The marine coasts are public property. "

Therefore, those people who decide to "invest" in the Petro, which is nothing more than a debt bond disguised as a cryptocurrency, should bear in mind that they are doing business with a government that is flagrantly violating the Constitution that they themselves created and offered the Venezuelan people. A government that has sanctions at an international level, and the most risky for investment, is that it is a government whose stability in power is clearly compromised, and that once a change of government takes place, illicit instruments like the Petro will be overwhelmingly unknown, and investors will lose their money.

yeah got the e-mail they sent me a link where i can fill out a offer. but its all in spain i dont understand it. need to translate all but thats much work. is there a english version of this?

Oil prices could increase to $100usd a barrel again.

US Not purchasing Oil from Venezuela, or selling parts needed to Venezuela, if elections are not halted.

https://www.washingtonpost.com/world/the_americas/the-venezuelan-oil-industry-is-on-a-cliffs-edge-trump-could-tip-it-over/2018/02/24/1c8d6350-0b62-11e8-998c-96deb18cca19_story.html

Server Overload... or email Trash / server block.

>$1.000.000.000 Purchase Intention / sold in 48 hours, confirmed by President of Venezuela
equivalent in usd.,
36% USD.
15% Euro
18% Ethereum
31% Bitcoin.

https://www.facebook.com/NicolasMaduro/videos/2146738715556600/
https://en.wikipedia.org/wiki/Nicolás_Maduro

Venezuela has become Cryptocurrency Paradise.
by Law.

when i register i dont get the e-mail for verification. can someone tell me on what e-mail provider i get the e-mail? tried tutanota and gmail there is nothing coming

According to President of Venezuela, China signed intent of purchase of ¥4700.million Yuans, more than $740.million us dollars./ 12,Million OIL Barrels. / €600 Million Euro.
= 12,337,500 PTR.

Minute 22:00 on the video.

This is very interesting project and related to huge issue. While many countries banned bitcoin then they build a government coin, despite that any other issue that might happen since a lot of scam surrounds, I am curious how will it will work in the future, I will follow the updates.

Complete Event: 1 Hour. 1st minute has overloaded sound.
https://youtu.be/NJxJ-Q4xXok

PTR Pre-Sale is Open, PTR is based on NEM Tokens,
Public Sale begins, March 20-2018.

Pre-Sale = ICO Fixed Price @ 1 PTR = $60usd.
Public sale = 1 OIL Barrel Price = 1 PTR.

Today West Texas Intermediate Crude Oil Price (WTI):
Closed at $61.15usd.
was $64.15 in 02/05/18

read all, in the Buyers Guide .pdf "Spanish Version Only"
http://elpetro.gob.ve/docs/MANUAL%20COMPRADOR%20VERSION%20BETA.pdf
http://elpetro.gob.ve/docs/LINEAMIENTOS%20SUPCAVEN%20MANUAL%20DE%20CUMPLIMIENTO%20ANTI%20LAVADO.pdf
http://elpetro.gob.ve/docs/MANUAL%20CASA%20INTERCAMBIO.pdf

short version:
you must register for the Presale, at:
https://regpetro.mppeuct.gob.ve
as a Company Legally Registed in Venezuela "Juridica" and provide a Valid RIF RUC #.
or register as an individual, A Natural Person,
and provide a valid Venezuela ID or a valid PASSPORT ID.

will receive a link to download the PTR Wallet installer,
Installer will Self-Destruct, so is important to Download/Export the Wallet file, and Show Private Keys to manually copy in a Safe Place.
like any other Wallet.
PTR Coins/Wallet safe keeping is users responsibility, like any other e-coin.

the other 2 .pdf are for Money Exchange Houses in Venezuela, legal requirements to register as a PTR Exchange House, Airports, etc...
and the other is a manual to avoid Terrorist ties & Drug Money Laundry using PTR coins.

France24 Spanish:
https://youtu.be/dWwsXXscrO8
RT Spanish:
https://www.youtube.com/watch?v=lDfgqw4D0Ek

NEM:
https://en.wikipedia.org/wiki/NEM_(cryptocurrency)
https://coinmarketcap.com/currencies/nem/

https://youtu.be/E1d5VvCa8Fo

Proyect Mayhem
https://youtu.be/BdDnT7jSAYA?t=3m41s

when a movie is wrong predicting the future?

When/If the Node wallet software is available to download public with the source code, nothing can stop it...
Unless there is a 51% attack, just like any other coin.
https://learncryptography.com/cryptocurrency/51-attack
https://en.bitcoin.it/wiki/Majority_attack
https://en.bitcoin.it/wiki/Weaknesses

Or a High Energy E.M.P. before the launch/birth.
https://en.wikipedia.org/wiki/Nuclear_electromagnetic_pulse
https://en.wikipedia.org/wiki/Electromagnetic_pulse#Non-nuclear_electromagnetic_pulse_(NNEMP)
Or a Solar flare like the 1800's
https://en.wikipedia.org/wiki/Solar_storm_of_1859
https://sohowww.nascom.nasa.gov

But if the Node Wallet software is realeased before the launch/birth, Not even an EMP, LOL. Jajajajajajaja
That's the idea of decentralized economy...
Not placing all the eggs in the same basket.
Remember?
https://en.wikipedia.org/wiki/Destruction_of_the_Library_of_Alexandria

In a Nuclear War, E.M.P weapons can destroy another country digital economy/technology/records/information.
Or a Solar Flare.
But if the economy/information is Decentralized, E.M.P weapons or Solar Flares cannot destroy the economy/information, total destruction is Not possible, with decentralized model, only the area affected.

Centralized digital economy is succeptible to E.M.P. Attacks or Solar Flares.
That's why eCoins are the future, and Banks Not. LOL. Jajajajajajaja
https://en.wikipedia.org/wiki/Electromagnetic_pulse_in_popular_culture#Motion_pictures

Another movie where information is Centralized, its the final scene in Fight Club (1999)
http://www.imdb.com/title/tt0137523/

Centralized information/economy is also susceptible to terrorist attracts.
That's why eCoins are the future.

It's like the movie Terminator Genisys (2015)
http://www.imdb.com/title/tt1340138/

You need time travel to stop it.

No, there won't be adittional emissions. It will be both technically impossible and legally prohibited

The 100million tokens represent 100million out of the 300billion proven oil reserves

Don't forget that Venezuela is a dictatorship country and nothing stops them to ban their own crupto right after collecting the ICO money.

So when 1 Petro equals one barrel of oil, is the maximum amount of underlying oil barrels 100.000.000? (Hard cap max nr. of petro tokens?).
How does this work? Can the gobernment release additional tokens?     (very interesting!!)

When you have one Petro you actually have a legal sales contract of one barrel of oil or its value at the time you cash it. The government is legally complied to honor such obligation which you can demand anytime.
With Petro it is actually you who have the power and not a government or a bank