Bitcoin Forum

Petro - ERC20 token
NO PREMINE
No cap
1 ether = 100,000 PETRO

Etherdelta: https://etherdelta.com/#0xec18f898b4076a3e18f1089d33376cc380bde61d-ETH
Token: https://etherscan.io/token/0xec18f898b4076a3e18f1089d33376cc380bde61d (https://etherscan.io/token/0xec18f898b4076a3e18f1089d33376cc380bde61d)

https://www.getpetrocoin.com/ (https://www.getpetrocoin.com/)

Petro is the real alternative to the Maduro's "Petro" version: https://cointelegraph.com/news/facing-hyperinflation-venezuela-to-issue-oil-backed-cryptocurrency
 (https://cointelegraph.com/news/facing-hyperinflation-venezuela-to-issue-oil-backed-cryptocurrency)
Our plan is replacing the Bolivar in Venezuela for Petro and improve the Venezuelans quality of life with a better cryptocurrency.

Do you want to help Petro?

Open an issue in the Github repo explaining how you want to help: https://github.com/getpetro/petro

Crowdsale startsdate: Tuesday, 05-Dec-17 18:56:29 UTC

End date: 04-Ene-18

NEW ROADMAP:

New Jan 2018:

- Rebrand "Petro Coin" to "Locha". The name Locha has a lot of history between Venezuelan people. -We want to avoid some connection with the Venezuela Goverment.-

Reference:

http://www.nytimes.com/2007/03/18/world/americas/18venezuela.html
https://en.wikipedia.org/wiki/Coins_of_the_Venezuelan_venezolano

- Publish Locha white paper
- Launch Locha Testnet

Feb 2018

- Launch Locha main net.
- Join to Yobit or HitBTC.

Q2-Q3 2018

- Launch a web-based wallet and browser extension compatible with Locha and Monero.
- Publish extensions for Prestashop, Magento, Woocommerce to receive Locha.
- Get more exchanges.


Do you wish more features? Please tell us in this thread.

NOTE: We will not premine for us never. All premine coin in the Petro Coin blockchain will be only for our investors.


<3 Made with Love from Venezuela.


-----------------------------------------------------

Big Announcement.

We are changing the rules for this crowdsale

If you invest in this crowdsale, you'll receive 2x1.

What's it mean?

If you buy PETRO during crowdsale, you will receive 2 Petro Coin in the new blockchain for each PETRO obtained. (See roadmap)

Example:

- You buy 100,000 PETRO.
- You will receive 200,000 PETRO coin.

But, that's not all!

If you acquire Petro after this crowdsale, you will receive 1:1 Petro Coin.

Example:

- You've 200,000 PETRO from this crowdsale.
- You buy 100,000 PETRO from exchange (Etherdelta)

Total in your address: 300,000 PETRO

When the new Petro blockchain has deployed you will receive:

400,000 PETRO (2x1 crowdsale)
300,000 PETRO (1:1 conversion) 200k acquired from crowdsale + 100k acquired from an exchange.

If you hold Petro, you'll receive more Petro Coin.


We will check the holders from the smart contract transactions history.

I am wondering, what is this project really are.
You mentioned that there is no pre mined, and also there will be no cap ( soft or hard cap).
So what is the real aim for this project?

Sorry, looks poor  :-[

Obtain funds to encourage the use of cryptocurrencies in Venezuela.

This token doesn't have premine coins because we think that is better if the community determines how many Petro coins will exist.

A future idea is creating a Monero fork to avoid the Venezuelan government restriction.

I read something about this today on the media but i do not know if this is the actual currency to replace venezuela economy currency or someone trying to make a fast one on the news.

Send more proof about this and i will swim in your ocean.

but but but this is not backed by Maduro... or is it ?

Yes, the road will be hard. Thanks for your words. Venezuela has a lot of transactions over Bitcoin, but the current Bitcoin supply is not enough to replace the Bolivar in Venezuela. We try to supply it.

hahahaha

no, this token is Maduro free.

SCAM ALERT

dont buy this coin. fake coin

We're listening ideas.

This project just is starting, we need hands!

Thanks for your big red warning.
Maduro "Petro" version will be a scam, this token will not be.

If you want to support this project you could give us ideas or suggestions. Not everything in life is money.

I really like the idea of the project! Good luck!

Thanks!

You're welcome to Petro project. <3

https://etherscan.io/address/0x02fd82cba3bae39484d5eb7f75b5f3d5f418c691

Crowdsale is live!

Oh! Thank you for your help. :)

I sent you the project for moderation.

Summary first crowdsale day:

Txs: 0
Ether collected: 0
Petros issued: 0

Current supply: 0 PETRO.

Well, the first day was bad, We hope a better weekend.

------------------------------------------------

Updates:

- We're working on the PR to Classic Ether Wallet adding PETRO as token.
- When the first million of Petros is issued, we'll start a conversation with Etherdelta.

this is a very simple thread, I really want to know who is behind this project, it will make this project more trusted and can attract many investors

You're right

Petro team are two developers; we can't reveal our IDs because it's dangerous for us if Petro has success.

For now, we need our passports.

If you want to know an example, plz read this https://steemit.com/bitcoin/@playak/dangerous-bitcoin-mining-in-venezuela

if you want to attract investors, you'd better provide more information about your plan, roadmap, whitepaper, and how to promote the development of this project, etc

Crowdsale summary:

Txns: 8
Ether collected: 4.519 Ether
Petros issued: 451,900 PETRO

Current supply: 451,900 PETRO.

-----------------------------

https://etherscan.io/token/0xec18f898b4076a3e18f1089d33376cc380bde61d

- We need 500k PETRO to reach the first milestone and set up the token on Etherdelta.

Thanks for your support.

Hi... Looks pretty nice project...
I and i hope many other would like to mine petro...
Please share some details to help miners...  :)

Thanks!

Right now, we're collecting funds to boost the project.

In 2018 we'll launch the minable blockchain.

We listened your advice and we publish the roadmap.

If you have more advices, we're open to listen it.

Thank for your time.

Today we will deploy the new Petro website.

And the PRs to add PETRO as a token of Classic Ether Wallet and My Ether Wallet are done.

https://github.com/kvhnuke/etherwallet/pull/1431

https://github.com/EthereumCommonwealth/etherwallet/pull/16

Big Announcement.

We are changing the rules for this crowdsale

If you invest in this crowdsale, you'll receive 2x1.

What's it mean?

If you buy PETRO during crowdsale, you will receive 2 Petro Coin in the new blockchain for each PETRO obtained. (See roadmap)

Example:

- You buy 100,000 PETRO.
- You will receive 200,000 PETRO coin.

But, that's not all!

If you acquire Petro after this crowdsale, you will receive 1:1 Petro Coin.

Example:

- You've 200,000 PETRO from this crowdsale.
- You buy 100,000 PETRO from exchange (Etherdelta)

Total in your address: 300,000 PETRO

When the new Petro blockchain has deployed you will receive:

400,000 PETRO (2x1 crowdsale)
300,000 PETRO (1:1 conversion) 200k acquired from crowdsale + 100k acquired from an exchange.

If you hold Petro, you'll receive more Petro Coin.


We will check the holders from the smart contract transactions history.

How will you get "The trust of people set the Petro value"?

Good question. Education.

We'll create education campaigns for the people know Petro.

This is a FAKE coin, this is "NOT" the real Petro Coin announced by the Venezuelan Goverment

:) Plz read the thread before spitting accusations. In the first message we say "Petro is the real alternative to the Maduro's "Petro" version".

We never said that we are Maduro's Petro version.

In our website we have the next text:

"No government control
Ethereum network backs Petro; the Venezuela government doesn't have control over Petro."

-why then name Petro, like the government Coin?
-when do we get the other half of coins?? (2 for 1)

Everyone watch out this is scam thread !!!!
This thread have nothing to do with the Venezuela Petro coin and copied everything from the original Petro thread

1- Maduro's "Petro" version didn't exists and doesn't exist right now, we see a opportunity to make political resistance.

2- In the new blockchain you'll receive 2 for 1 coins. We're planning to speed up the new blockchain and rebrading to avoid Petro "scam" problems.

Excuse me, what's the "original Petro Thread"?

It's easy to say "scam, scam, scam" but it's harder helping to the ecosystem with advice, constructive criticism.

:) We'll not fight versus the "scam" accusations... We'll fight versus the "Bolivarian" government making great again the economy through the technology.

at least theres a petro thread where the devs respond. i'll be watching this thread...

Thanks! That's the idea. I understand the skepticism from few people, but we'll demonstrate our work.

question..how many people from venezuela know about this project? 10? 100?  ;D sorry if a am a little sckeptical about the core principal idea of this project.

Good question, right now we don't know it. We'll research it.  ;)

Launch a censorship free Venezuelan forum could be a good start to know this.

The new website will be lochacoin.com

:) I hope all support from you. If you have some idea for the new blockchain you could talk with us right now.

A designer will help us with the new Locha Coin website.

this seems like scam. this is not the REAL PETRO

Where is real petro?

not in ico sale yet

We are not the Maduro's Petro version.

BTW, The Maduro's Petro version doesn't exist and may never exist :)

We will rebrand this project to "Locha" to avoid accusations like yours about the "SCAM."

The idea is to make a real and usable cryptocurrency at Venezuela. Each Venezuelan has the right to buy in every world place, with the current government and exchange control they can't do it.

With Locha they would buy without exchange control. Sadly the Venezuela government killed the Bolivar in Venezuela.

If you want to support this project you could do it with ideas :D

Hi,

I would like to help Petrocoin to be world-known.
I propose to translate this announcement thread in French.

Past works for :
- Ethereum.link (https://bitcointalk.org/index.php?topic=1907265.0), Whitepaper (https://ethereum.link/files/Whitepaper1.02_FR.pdf)
- Bezop.io (https://bitcointalk.org/index.php?topic=2684030.msg27418753#msg27418753)

Tell me more if you need this help.

Cordially yours,

Arpetuos

We're working on the final whitepaper. When we have the first draft, we will send directly to you in case you have some idea to improve it

> Why would people invest in a token of Venezuelan origin?

The current monthly basic salary is too low, It's complicated buy by example Ether and makes transaction internally with it.

Locha would be accessible and I hope that in the first six months after its launch some companies use it to pay bonification to their employees (it is part of the whitepaper).  We want to try to solve the cash problem (http://www.news.com.au/travel/world-travel/south-america/venezuela-the-country-literally-running-out-of-cash/news-story/01f465fd917563444d56389bd4a14c50) implementing Locha in Point of Sales by example.

Will be it complicate? Yes. :) But it doesn't matter.

>  Just by parity with Oil? Who guarantees that this will happen?

Locha will never get the parity with Oil because it is insane.

Thanks for your help.

We prefer to wait for a little to translate the next new thread about Locha. We are rebranding Petro to Locha. :) I will touch you about the translation to French.

Petro from Maduro doesn't exist.

Petro has a very interesting sales mechanism, but it just made me want to keep watching

Ok ! Thanks for the quick answer !

All the good for Locha !

Scam... petro has no whitepaper...they haven't setup the "law"... but I guess there will always be bastards and thief's...such as @getpetrocoin user

Sure.

.

@getpetrocoin  - Parliament has declared this Illegal and in violation of the country's constitution. How is the release of coins on the 14th gong to happen with that?  If not, are we going to be refunded?

The Venezuela National Assembly declared that a cryptocurrency or any asset backed by oil is unconstitutional. That make sense, so, Locha (ex- Petro Coin) is not backed by oil.

We don't have any relationship with the Maduro's Petro version.

and what  now???????

I understand.  You used the confusion with Maduro's Petro coin announcement to get people to buy this fake coin.  I was one of them who was confused.  Congratulations, you stole my money when I was trying to help a people who truly need assistance.  You already knew this, so I don't expect you to care.  You are spending my money, and I understand.

However, it does not cost you anything to release the coin.  You may even make more money that way because there are others in the world who want to help and are waiting for the coin to be released.  Use the Petro or Locha name, it doesn't matter at this point.  Whether you believe in the plight of the Venezualian people or not, the plight is real.  To any Venezualians reading this, stay strong, there are people who actually care.

I see you have stopped logging into this site.  I hope somehow my message gets to you and you can reclaim a bit of your humanity.


Name:   getpetrocoin
Posts:   32
Activity:   32
Position:   Jr. Member
Date Registered:   December 05, 2017, 02:25:55 PM
Last Active:   January 10, 2018, 04:45:46 PM

:( I don't like your username :/

This week we will release the Locha white paper, new repos and lochacoin.com.

Within 15-25 Feb you could reclaim your Locha coins. We follow this thread and try to answer all messages.

BTW, Maduro's Petro will not help Venezuelan people. It is a government bond more, sadly.

News soon and a new thread for Locha.

Preview of the new landing page: https://imgur.com/a/yUgmt

WIP is a water mark :)

Thank you for the quick reply and the updates on your progress.  Unfortunately, there are a lot of people who would do the things I mentioned in the previous post.  I am glad to see I was wrong, and will not use this user name again.  Please keep us updated going forward so we can be reassured that our efforts to help are actually helping.  We know it's a lot of work, and we are willing to help you get the coin launched as well.  I'm sure if you needed assistance, there are people on here who would be happy to help.

No problem :D that's the idea of this thread share your opinion and help us to communicate better the project.

Monday at 4PM UTC-4:

- First whitepaper draft in Spanish.
- lochacoin.com and redirect from getpetrocoin.com

Current whitepaper draft in Spanish.

https://github.com/lochaorg/locha-site/blob/master/whitepaper/locha-es.pdf

We launch an essential landing page on https://lochaorg.github.io/locha-site, the domain lochacoin.com is propagating DNS, after it, we will set the domain to the Github page.

Locha Coin original specs:

- Symbol LCH
- Ethereum fork
- Same specs of mined except the reward, Locha reward will be of 8 LCH
- Max supply on the Q4 hard fork 200,000,000 LCH
- Premine amount: 20,000,000 LCH
- Initial Airdrop

SCAM ALERT!!! DON'T GIVE THIS GUYS YOUR MONEY, THEY ARE NOTHING BUT SCAMMERS

If you want to be seen as trusty.
CHANGE THE NAME OF THE THREAD!

You are just promoting a scamcoin using the name of Venezuela's oil backed "Petro"

Congrats! you must be venezuelan ;-)



":) We'll not fight versus the "scam" accusations... We'll fight versus the "Bolivarian" government making great again the economy through the technology."


Well it is interesting you fight the opportunity to make a better economy through the technology ;) That is probably good for people ;-) could you guys please identify yourselves?

so you cheat people into thinking they are buying venezuelan petros, but instead they are buying another scamcoin? that way the negative opinions against "your" Petro could result in a bad image for Venezuelan Petro?

I must admit it's an easy way of making money. But isn't it easier to try making a living about something else but scams?

No wonder why you are located in Panama ;-)

Not happy about this. Venezuela has serious issues and isn't left alone by the international community. Using a state's name as a way to try and sell a coin... is bad for the country and bad for the people :(...

I didn't understand nothing from the ending date of the ICO which is mentioned as 04-ene-18. This kind of middle word doesn't lead me to be able to make even guess to the month. If the lot of money will be collected means this token will have huge supply because of the offer for each Ethereum.

This looks like the corrupt government of Venezuela, I feel that I will be robbed if I invest in this currency, Sorry

There is not even a detailed explanation of the project

wait, so the coin will be released sooner than the whitepaper? how will people know what they are investing in? oh wait its venezuelan so its a shitty investment either way

SCAM ALERT!!

If this is not a scam, this token will not ride over the popularity of oil backed crypto which has the same name.
genuine is one of the best thing you will have on this ICO, which you dont have.
You dont know how to run an ICO and if you really want to have a nice one kindly hire some campaign manager and pay them with some upfront money.

Never ride on a coin with such name stole from other popular ICO.

I wrote a very detailed report on Petro
https://cryptohydra.com/crypto-reports/investing-in-petro-ptr-the-crude-oilgold-backed-venezuelan-government-ico/

 I really want to know more about this project,and hope it will make this project more trusted and can attract many investors.god bless team :)

looks amazing,ill wait for more update of this project,hope more success to the team ;)

I just place a buy order on EtherDelta:
https://etherdelta.com/#0xec18f898b4076a3e18f1089d33376cc380bde61d-ETH
Hope to still get in on this:
The alternative to Maduro’s Petro.

This IS NOT Maduro’s Petro. His IS NOT a cryptocurrency. He is just using blockchain for accounting.

I'm excited for this alternative ERC20 coin (was PETRO - Now will be LOCHA) a true cryptocurrency.

BEWARE! Dont send ETH to any ETH-adress. I could be scum!

The NEWEST official Whitepaper (from 2018-02-20, yesterday!) said the token is on the NEM Blockchain:
http://www.elpetro.gob.ve/Whitepaper_Petro_en.pdf

"Presale
The Pre-sale will start on February 20,2018 and will consist of the creation and sale of smart-asset on the NEM blockchain
platform. This process will promote and guarantee demand for Petro’s Initial offering, which will be carried out later.
The tokens that meet the requirements of the mosaic on NEM blockchain standard are non minable digital cards that
are issued in their entirety through an intelligent contract on this platform. The presale token will not be part of the
Petro network until Petro distribution during the Initial Offer process. The token may be exchanged for Petro at any time
between the launch date and the closing of the Initial Offer."

so why sending money to an ETH adress, when the Petro is on the NEM blockchain?!!!

So i think it is very clever from the venezualian gov, because i would bet, that the U.S.-Gov.  would be targeted the ICO.
Everyone thougt it would be offered on ETH as an EC-20 token, instead it is on the NEM blockchain!

i would bet, that the NEM-coin would rise in the next days. It could be a good idea, the get some... Just in case... ;-)

also:
https://www.coindesk.com/petro-debut-learned-venezuelas-cryptocurrency-today/ (https://www.coindesk.com/petro-debut-learned-venezuelas-cryptocurrency-today/)
https://twitter.com/PresidencialVen/status/966110687310336000 (https://twitter.com/PresidencialVen/status/966110687310336000)
https://twitter.com/NEMofficial/status/966145370060279808 (https://twitter.com/NEMofficial/status/966145370060279808)

I just don't understand the chances and risks to be honest.

I read that one Petro is backed by one barrel of oil (~$60 atm). So if the price of oil rises up to $100 for example will that affect the price of the Petro? Can I go to Venezuela and get a barrell of oil guaranteed from the government for one Petro? Or what kind of backup is this?

If there is a backup by oil, wouldn't Petro just behave like Tether? So the price would always stick around the current oil price?

Or is this some other kind of backup and Petro can go anywhere no matter the oil price? The economy of Venezuela can't become much worse so at some point it might become better. Would that affect the price of the Petro?

My question is if I buy Petro am I betting on oil or on the economy of Venezuela or both or none of it? Or nobody knows? Does someone know more about it who could explain this?

Thanks!

this could be fake, the official coin website is from the gov
https://regpetro.mppeuct.gob.ve

how can i know that this is the official thread of pedro?

I need to know one thing: is there any possibility that people who owns defaulted venezuela bond can be refund with pedro?

A poor country full of oil with an ex bus-driver on its top is a pretty good field for crypto experiments  ;D

is this official petro?

well, sadly i suppose no

Just read the signature of the OP --> "Petro Coin has no relationship with the VE Gov".

How can the real petro have no relationship  with the Ve government? I think that will not see soon an official thread on this forum :(

I clicked and saw that the links were not working properly, and there was a need to wait for the correct address to be rechecked.

such a simple project and  really want to know more is behind this project, hope will make this project more trusted and can attract many investors,wishing your success guys

Thank you. I tried it now and I can open the official website now. It may be just like you said. ;)

Especially since the Russians helped Maduro try to secretly roll this one out.

According to the latest revelation in the Petro scenario, it has turned out to be a joint venture between Venezuela and Russian officials.

Story Coverd by Coingape Read here: https://coingape.com/trump-vs-putin-did-russia-assisted-venezuela-petro-coin/