Topic: Venezuela Petro coin , opinion? - page 2. (Read 534 times)
ridiculous thing that venezolanos couldn't buy their own crypto with bolivars cause they sell it in dollars, euros or any another fiat ut not their own wtf
A plan that doesn't each the and enjoy the liveliness to chiefly its have humanities, the believability of digital cryptography is questionable
As far as I remember, the American president made it clear that this Venezuelan token could be banned. It's such a while that politics is very much regulating this or that crypto currency.
Indian Government didnt accept Venezuela offer for trade deal so petrol coin didnt work in india
elections are near in venezuela , if that president lose his power then next president may ban this coin .
also US govt is not in favor of petro coin .
it is only good for nations who buy petroleum/crude oil from venezuela as it may offer discount .
also US govt is not in favor of petro coin .
it is only good for nations who buy petroleum/crude oil from venezuela as it may offer discount .
This is a great way to understand how the state built a token into its economy. If they all work, then their experience can be applied in any situation. I will follow this coin to me wondering what's next.
The government of Venezuela must fully commit on this thing, and not to form a new source of corruption.The idea for this coin is very amazing and I wish for the success of this coin so their economy will finally grow.
Venezuela has big financial problems as a country, so I would avoid such project, too risky for me.
Well, this is the risk of this coin so when you invest you must be ready for possible things to happen.
Note Venezuela has allocated 5 billion barrels of oil to support the Petro - cryptotoken, which will be tied to the price of a barrel of Venezuelan oil. At the same time, Nicholas Maduro notes that the crypto currency will be backed up by other "precious minerals".
According to him, over the past two days presale has been recorded about 292 thousand offers to buy El Petro, of which 36% in dollars, 15% in euros, 18% in air and 31% in bitcoins. 733 665 people around the world have already expressed their desire to invest in the crypto currency provided by oil. Only on February 22 the official site of El Petro was visited by 960 thousand people.
This is a way of selling oil not for dollars, but other material values in circumvention of sanctions. Iran, for example, sold oil for gold.
According to him, over the past two days presale has been recorded about 292 thousand offers to buy El Petro, of which 36% in dollars, 15% in euros, 18% in air and 31% in bitcoins. 733 665 people around the world have already expressed their desire to invest in the crypto currency provided by oil. Only on February 22 the official site of El Petro was visited by 960 thousand people.
This is a way of selling oil not for dollars, but other material values in circumvention of sanctions. Iran, for example, sold oil for gold.
Venezuela petro coin offering new discount prices to buy the coin so we can expect how the coin movement one good point is petro coin have Russia support
Venezuela has big financial problems as a country, so I would avoid such project, too risky for me.
The appearance of Petro can lead to a minimization of the effect of sanctions. At the same time, if El Petro's project proves successful, it will give a signal to other countries under sanctions to start developing the same crypto-currency systems.
Someday oil end , electricity cars each day are cheaper but problem is not many chargers.
An incomprehensible coin, which is supported by oil. All this is more like a way out of US sanctions. In addition, there is a dark history with a Russian trace in this crypto currency
I think that this project is not for the wide use, same says the way they performed the ICO - it was only for Venezuela citizens.
Of course it is for the benefits of their our countrymen or their government but I think even if we are not there we can still participate.
how can a country where poverty and inflation through the roof to release the cryptocurrency and make it bring more profits. How can you trust their money in this project, it is already doomed 
Precisely, maybe they are trying to fight poverty by just creating crypto well I hope so they will use this thing in a right way.
I think that this project is not for the wide use, same says the way they performed the ICO - it was only for Venezuela citizens.
Venezuela has taken a very important step in this regard and will be an example to other countries. I think other states will make their own coins to market.
I was wondering about Petro coin aswell some days ago.
But it is certainly nice to have a government-backed and oil-backed (I mean it should have real value because of it, right?) cryptocurrency. It means wider adoption of cryptocurrency, which is great news for the market.
But after the news on the legislative body declaring it illegal, I dont really know what to think of it anymore.
For the question about this heading into the good direction: this is a good way. Governments realising the potential in it, can make the cryptocurrencies spread, and it will have a positive effect on the market. On the other hand, this would mean centralisation of the blockchain, for that coin.
Does it worth it? It is hard to tell honestly, by not knowing much about the planned, government-backed coins. But the benefits will outweight the negatives, I believe. A positive thing might be that the backed coins might be more stable, as it would be desirable. Also, these coins, and "traditional" cryptocurrencies can exist at the same time, paralelly, so I dont think government-backed coins will rule the current ones out.
But it is certainly nice to have a government-backed and oil-backed (I mean it should have real value because of it, right?) cryptocurrency. It means wider adoption of cryptocurrency, which is great news for the market.
But after the news on the legislative body declaring it illegal, I dont really know what to think of it anymore.
For the question about this heading into the good direction: this is a good way. Governments realising the potential in it, can make the cryptocurrencies spread, and it will have a positive effect on the market. On the other hand, this would mean centralisation of the blockchain, for that coin.
Does it worth it? It is hard to tell honestly, by not knowing much about the planned, government-backed coins. But the benefits will outweight the negatives, I believe. A positive thing might be that the backed coins might be more stable, as it would be desirable. Also, these coins, and "traditional" cryptocurrencies can exist at the same time, paralelly, so I dont think government-backed coins will rule the current ones out.
It is backed up by oil and government. Those are very strong points for this coin. I think it could be done as this coin is not dependent on the president, so if the government fails on elections coins future is not in danger. It is a good way, for countries in a difficult position, to break through another market and be free in trading and business.
Venezuela is trying to agree with Russia on the acquisition of auto parts of Russian production with the help of its state crypto currency Petro. Currently, both countries are under US sanctions. After meeting with his Russian counterparts, the Venezuelan Foreign Trade Minister announced that the governments had discussed the possibility of buying Kamaz spare parts with the help of Petro.
Why not? I think it's a good idea to make coins backed with some real things such as gas, oil, gold etc. They will be way more stable than most of current ones.
You mean like USDT / Tether? Its backed by USD itself. And you are right it is stable.
Why not? I think it's a good idea to make coins backed with some real things such as gas, oil, gold etc. They will be way more stable than most of current ones.
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