Wthe world still embraces the centralized system as it happens in all countries today the inflation threat that skyrockets and makes the currency of no value can happen anytime, surely it needs a solution to replace the financial system with decentralization and I'm sure cryptocurrency is the solution to overcome all the financial crisis like in Venezuela.
At this time the market is very bustling and many fluctuations occur. However, the need to do now is a high security against any intrusion that can happen at any time. Big investors buy high security tools, the rest is limited social networking sites hackers can come at any time. Protect your assets against this financial crisis. 
Topic: Venezuela moves to issues "petro" crypto (Read 1715 times)
I wonder how this coin will affect the world. And where is this "petro" traded, only in the country or somewhere on the stock exchange?
On the official website of the project. The process is not anonymous - you will need to register, providing passport data or any document that can identify the person. You will also need to specify the country of residence, contact phone number and email.
Petrodollars are essentially bonds of digital currency.
Petrodollars have raised $3 billion from investors in 127 countries.
To some extent, venezuela's economic crisis has been alleviated!
Petrodollars have raised $3 billion from investors in 127 countries.
To some extent, venezuela's economic crisis has been alleviated!
Alleviated? They are going to need 300 billions to alleviate this crisis, and nobody believes those 3 billions invested in petrocoin are actually real.
Just this year Venezuela has to pay 2 billions to Conoco and 1 billion to Gold Reserve Mining.
Plus, seems like China is not eager to continue thir 0 interest loans and might pull the plug , and there are 60 billions on the table.
This is a good development and that means one has to buy this coin immediately it hit the market because it is going to surge. I think we are at the era of cryptocurrencies development and any country that adopt it now will really benefit from it. Venezuela is one of the country that got cryptocurrencies in mind and I think things are going to work out well.
Yeah, it's going to surge.......
This coin was supposed to be backed by a barrel of oil. Why would it surge since there is nothing backing up a higher value?
Plus, what is the price of oil goes down?
But.....go and invest! All of you that believe in this national scale scam.
In a few years everybody will laugh when reminded of this project.
I wonder how this coin will affect the world. And where is this "petro" traded, only in the country or somewhere on the stock exchange?
http://www.bbc.com/news/world-latin-america-42217798
BBC reports Venezuela is moving to Petro coin to fix economy. Will this help? Will it hinder things? Will it bring negative light to crypto? First country to go totally crypto?
Personally, I see more inflation and Petro failing terribly.
I do not think the country is ready. Anyway this is just my opinion but how about the poor? Do they consider them? Crypto coins are volatile and I do not think its good for them to use. For me it is too risky for them.BBC reports Venezuela is moving to Petro coin to fix economy. Will this help? Will it hinder things? Will it bring negative light to crypto? First country to go totally crypto?
Personally, I see more inflation and Petro failing terribly.
The Petro is an interesting case. It's more like a commodity coin than a currency, but then again is also similar to the gold standard, except under the gold standard you could redeem the physical gold at a bank. I doubt anyone is redeeming barrels of crude lol. However, I saw a headline yesterday that Venezuela was going to offer a 30% discount on crude to anyone who purchased the oil using the Petro.
Can't verify the claim, that's a big discount tho so if it's true people will def use it for that at least.
Can't verify the claim, that's a big discount tho so if it's true people will def use it for that at least.
Petrodollars are essentially bonds of digital currency.
Petrodollars have raised $3 billion from investors in 127 countries.
To some extent, venezuela's economic crisis has been alleviated!
It's Petro, not Petrodollars...Petrodollars have raised $3 billion from investors in 127 countries.
To some extent, venezuela's economic crisis has been alleviated!
"crisis has been alleviated"? is this a joke? $3 billion does absolutely nothing to alleviate such economic disaster. And you're being very naive by thinking that all the money raised from Petro is going towards the recovery of the country.
This is a good development and that means one has to buy this coin immediately it hit the market because it is going to surge.
Sure, a centralized cryptocurrency (called a scam by reputable companies/websites/etc) created by a dictatorship from a third world country that's suffering from hyperinflation is going to surge...yeah, better invest in Petro rather than other reputable cryptocurrencies in the market. /s 
Petrodollars are essentially bonds of digital currency.
Petrodollars have raised $3 billion from investors in 127 countries.
To some extent, venezuela's economic crisis has been alleviated!
Petrodollars have raised $3 billion from investors in 127 countries.
To some extent, venezuela's economic crisis has been alleviated!
Alleviated? They are going to need 300 billions to alleviate this crisis, and nobody believes those 3 billions invested in petrocoin are actually real.
Just this year Venezuela has to pay 2 billions to Conoco and 1 billion to Gold Reserve Mining.
Plus, seems like China is not eager to continue thir 0 interest loans and might pull the plug , and there are 60 billions on the table.
This is a good development and that means one has to buy this coin immediately it hit the market because it is going to surge. I think we are at the era of cryptocurrencies development and any country that adopt it now will really benefit from it. Venezuela is one of the country that got cryptocurrencies in mind and I think things are going to work out well.
Yeah, it's going to surge.......
This coin was supposed to be backed by a barrel of oil. Why would it surge since there is nothing backing up a higher value?
Plus, what is the price of oil goes down?
But.....go and invest! All of you that believe in this national scale scam.
In a few years everybody will laugh when reminded of this project.
This is a good development and that means one has to buy this coin immediately it hit the market because it is going to surge. I think we are at the era of cryptocurrencies development and any country that adopt it now will really benefit from it. Venezuela is one of the country that got cryptocurrencies in mind and I think things are going to work out well.
Petrodollars are essentially bonds of digital currency.
Petrodollars have raised $3 billion from investors in 127 countries.
To some extent, venezuela's economic crisis has been alleviated!
Petrodollars have raised $3 billion from investors in 127 countries.
To some extent, venezuela's economic crisis has been alleviated!
Wthe world still embraces the centralized system as it happens in all countries today the inflation threat that skyrockets and makes the currency of no value can happen anytime, surely it needs a solution to replace the financial system with decentralization and I'm sure cryptocurrency is the solution to overcome all the financial crisis like in Venezuela.
True. Crypto currency isn't a very stable currency to deoend on much less depended on by the whole country. I guess if the government can actually pull this off then it will be a great news for crypto and say goodbye to fiat
http://www.bbc.com/news/world-latin-america-42217798
BBC reports Venezuela is moving to Petro coin to fix economy. Will this help? Will it hinder things? Will it bring negative light to crypto? First country to go totally crypto?
Personally, I see more inflation and Petro failing terribly.
I don’t really understand what this means. Do you mean they are starting to issue out their own cryptocurrency or are you trying to say that Venezuela it’s no more making use of conventional currency like others? 🤔 If they are just issuing out cryptocurrency for investment, then there is no problem, but if they are trying to go all in on cryptocurrency and stopping the use of conventional currency /fiat then they are heading for total failure, cause it’s totally madness.BBC reports Venezuela is moving to Petro coin to fix economy. Will this help? Will it hinder things? Will it bring negative light to crypto? First country to go totally crypto?
Personally, I see more inflation and Petro failing terribly.
With iCO petro and more other ICos venezuella will earn fresh income from investors and possesion.
But who would want invest in a centralized scamcoin issued by a corrupt country that's on the brink of an economic collapse? A smart investor wouldn't invest a dime in the Petro knowing that in doing so it could get the investor (or company) in troubles because it goes against the U.S. sanctions, same with the United Nations (UN) sanctions. That leaves the Asian market which has better things to do than investing in this crap called Petro. So no, Venezuela (more specifically, Maduro, because the money would've gone to Maduro and his friends rather than the country) won't earn "fresh income from investors". I didnt expect to see the nationalization of cryptoscamming take place this early lol.
The skepticism in the thread is expected but spare us the "analysis". Venezuela's president is scamming his own people the same way some of the ICO scammers are scamming the Bitcoin community. Believe me, politicians always have their own agenda.
But you have to be impressed. Hes taking scamming on a higher level lol.
We can never tell if what will be the agenda of the president of Venezuela maybe they are taking the bitcoin value at the highest level since if this happen all of the people there will be force to use bitcoin for their every transaction and I hope this project will not let bitcoin down.The skepticism in the thread is expected but spare us the "analysis". Venezuela's president is scamming his own people the same way some of the ICO scammers are scamming the Bitcoin community. Believe me, politicians always have their own agenda.
But you have to be impressed. Hes taking scamming on a higher level lol.
Why would this petrocoin influence the bitcoin price in a positive way?
And furthermore if the goverment of Venezuela wants to make their crapcoin succesful they are for sure not going to force people to se bitcoin but their altcoin.They might even go to the next level and declare that the petrocoin is the only legal crypto and thus outlawing bitcoin.
There is nothing positive for bitcoin in goverments decisions to create their centralized coins.
This maybe the solution for the failing economy of Venezuela. They wanted to get out of USA's chronosphere. Decentralization is the way to go but I had my doubt on this but i wish Venezuela the best of luck.
At least Venezuella will not depend on USD. USD reserved will take a lot of Vene income. With iCO petro and more other ICos venezuella will earn fresh income from investors and possesion. If they used crypto totally, I think it is impossible because not all people are cryopto familiar. Many poor people in rural area may not know cryptocurrency.If those brainwashed socialist in Venezuela want to ditch the dollar they should do two things first :
1) Stop selling oil to the US (but that would bankrupt them)
2) Stop accepting $ in humanitarian aid
Maduro is an idiot, de-dolarization ? Good luck with that when your main export market is the US !!!!
After the launch
Anyway, the Petro $PTR is receiving a lot of interest: the official Venezuelan press agency reports that offers and negotiations for $PTR are over 1 Billion dollars after less than 24 hours from launch. You probably won't find this on US or European mainstream media.
http://www.avn.info.ve/contenido/ofertas-y-negociaciones-torno-al-petro-superan-1000-millones
Anyway, the Petro $PTR is receiving a lot of interest: the official Venezuelan press agency reports that offers and negotiations for $PTR are over 1 Billion dollars after less than 24 hours from launch. You probably won't find this on US or European mainstream media.
http://www.avn.info.ve/contenido/ofertas-y-negociaciones-torno-al-petro-superan-1000-millones
Yeah right!!!
Maduro is claiming billions in investments and Venezuelans are fighting over scraps of food.
Btw, he will need those billions for real:
ConocoPhillips Wins $2 Billion Ruling Over Venezuelan Seizure
https://www.nytimes.com/2018/04/25/business/energy-environment/conocophillips-venezuela-ruling.html
I don't think it's a good idea also because of the volatility of the price. People who can't afford this wouldn't benefit from this.
http://www.bbc.com/news/world-latin-america-42217798
BBC reports Venezuela is moving to Petro coin to fix economy. Will this help? Will it hinder things? Will it bring negative light to crypto? First country to go totally crypto?
Personally, I see more inflation and Petro failing terribly.
BBC reports Venezuela is moving to Petro coin to fix economy. Will this help? Will it hinder things? Will it bring negative light to crypto? First country to go totally crypto?
Personally, I see more inflation and Petro failing terribly.
This can be quite risky as the prices are very volatile. What if the prices double in next 3 months, they will have to spend double every month from current amount which can be huge for some.
http://www.bbc.com/news/world-latin-america-42217798
BBC reports Venezuela is moving to Petro coin to fix economy. Will this help? Will it hinder things? Will it bring negative light to crypto? First country to go totally crypto?
Personally, I see more inflation and Petro failing terribly.
I do not think the country is ready. Anyway this is just my opinion but how about the poor? Do they consider them? Crypto coins are volatile and I do not think its good for them to use. For me it is too risky for them.BBC reports Venezuela is moving to Petro coin to fix economy. Will this help? Will it hinder things? Will it bring negative light to crypto? First country to go totally crypto?
Personally, I see more inflation and Petro failing terribly.
http://www.bbc.com/news/world-latin-america-42217798
BBC reports Venezuela is moving to Petro coin to fix economy. Will this help? Will it hinder things? Will it bring negative light to crypto? First country to go totally crypto?
Personally, I see more inflation and Petro failing terribly.
I do not think the country is ready. Anyway this is just my opinion but how about the poor? Do they consider them? Crypto coins are volatile and I do not think its good for them to use. For me it is too risky for them.BBC reports Venezuela is moving to Petro coin to fix economy. Will this help? Will it hinder things? Will it bring negative light to crypto? First country to go totally crypto?
Personally, I see more inflation and Petro failing terribly.
This maybe the solution for the failing economy of Venezuela. They wanted to get out of USA's chronosphere. Decentralization is the way to go but I had my doubt on this but i wish Venezuela the best of luck.
At least Venezuella will not depend on USD. USD reserved will take a lot of Vene income. With iCO petro and more other ICos venezuella will earn fresh income from investors and possesion. If they used crypto totally, I think it is impossible because not all people are cryopto familiar. Many poor people in rural area may not know cryptocurrency. Jump to: