Bitcoin Forum

Venezuela is willing to create a cryptocurrency and it should be ready in some weeks, do you think it will have success? Are you going to buy some? What do you think about this decision?

Edit: They are releasing 100 million of 'Petro' in the next days, it will have the value of the petroleum barrel (59,07$)

This is something new a government who i willing to take the cryptocurrency to a new level is a good start! i hope for their success for the other countries might follow their footsteps.

I think that this is a good idea.
It is possible that this will be a good example for many other countries, which will make crypto more popular everywhere.

This good news...
National currencies with digital/crypto version. All country must follow this way.
But I think, all the goverment have think and plan for this step, actually the gov ban most of cryptos, but they interested with blockchchain technology, and try implemented into their banking system.  

All of you are saying it is a good idea, but, are you willing to buy some?

I would say most people won't be willing. As good an idea as it might be, a lot of the appeal of cryptocurrency isn't it's use as a currency, but as a speculative investment. When you peg the price of it to a certain asset, such as the price of a barrel oil, there isn't much more reason for people who aren't Venezuelan to invested in something like this. Similar to how there won't be much investment purpose to the cryptocurrency being developed by the Chinese government, since it will be pegged to the RMB.

Hi everyone, I've seen over there, that the national assembly is going back on this, I think that politicians are the most criminal beings there are, first time they do something good and this other people hurt it, the truth in a country where they do not let anything develop, the opposition does not like the cryptocurrency because there are many possibilities for the country to emerge from the crisis, politicians should be eliminated, neither one nor the other ... it is a total Third World country where they do not want to see progress, most people in Venezuela have no idea that it is a BTC or that it is a cryptocurrency, and they say it is bad because the government will implement it, they are very ignorant to say something like that, because through the chain of blocks there would be no corruption ... ignorance and the desire to see a Sunken Country is something chilling ...

the venezuela people are having economical problems ,well moving into crypto could make there country turn around,crypto is the future.

This will be a good development in the blockchain technology and many third world countries should follow suit as this is the major way there can come out of the limitations place upon them by the major currencies. If any country to grow now there most embrace cryptocurrencies just like we have in Japan.