Bitcoin Forum

Could Trump’s Executive Order Banning ‘Petro’ Transactions Lead to Backdoor Cryptocurrency Regulations?

Is anyone even buying that shit centralized coin controlled by a corrupt government anyway?

As a matter of fact, I won't buy any fiat crypto coins issued by any governments.

The token is shit token,so I don't think anyone will invest in it.
Because this token exists to break the American restrictions on the country, it is normal for the United States to ban people from buying this token.

Wasn't US citizen already not allowed to participate in ICOs? It's again all upto the people, you can't restrict them to do what they think is correct.
As of Petro, it's a good coin if you want to donate something to starving nation of Venezuela.

first give us the link to where it says they are banning Petro.

then lets talk about it. this is a centralized shitcoin that is created by the country's government (Venezuela to be exact) nobody even cares about this coin and is never going to buy it. this coin was created mainly for their government to make money and fill their pockets. and if i am not mistaken it had an ICO too :D

I think he runs out of money for building a wall and he just found a way to get money from something else like this ban.

All these centralized government coins are really shady in my opinion and are definitely not anyway to support the people of the country.  The ICOs just bring in more money for the corrupt governments.  If you really want to support the people of Venezuela, a lot of residents have small amounts of Onix, the first Venezuelan crypto project and a low budget competitor to Salt.  And it’s also one of my picks for a super low cap gamble that will pump big in the near future. 

Only a fool will even consider investing in this in the first place. Let's even leave centralization out of this; Petro or whatever they call it is not a cryptocurrency and obviously Nicolas Maduro must have thought he can easily get some people fooled with him claiming it is oil backed (that part actually got me laughing).

Good riddance to bad rubbish! It is just a plain scam from a highly corrupt government and no one needs a caution from Trump before even realizing that.

As long as petro enter the open marketplce there are no regulation that ban petro. All cryptos when they enter market, they are free from regulation. market is real regulation not by govt that is suck for people properties.

I think it won't lead to backdoor cryptocurrency regulations(I hope). I think trump's move is a wise choice because who the heck will believe in Maduro's claim that it is backed by oil? Also, the fact that it is centralized with Maduro in control of it is also bad which I think is the most probable reason why trump have given an executive order to ban Petro transactions. Maduro can try getting Petro in a free market, I think it would have more value this way.

I've also heard the news. But it sounded like he disallowed (not recommended) to buy Petro but not ordered to ban it.

exactly this. It's more of a political issue as they've been trying to undercut US and as I can see Trump has banned US purchase of Petro. It won't and should not affect other altcoins.

How exactly can USA become money from banning a Currency?

Venezuela hasz a corrupt government and for beeing leade by an dictator like Mr Maduro there are trading embargos against venezuela. Of course with an ICO venezuela found a way to become fresh money into the country. Everybody was knowing before, that the governments from the western world couldnt allow this cryptocurrency.

Its not wise and ethical not right to support a corrupt dictator, so stop crying if you loose your blood money

I do not even know why America decided to make it totally obvious anyway ;D … Since they have actually banned ICO in the first place. Also, only those who are not smart enough will see good coins on ground and in the market but would prefer to invest in a coin backed up by a government and not just a government but a corrupt one for that matter. They can shove their own petro in their wallet for all I care, even without Trump saying it; I stopped having hope in centralization a long time ago.

i read about petro only, that it is a very big scam and not legal in venezuela. so i think trump trys only to protect people from this scam and it leads not to backdoor cryptocurrencys.

First of all USA can't ban any cryptocurrency even as centrilised as El Petro. Even China can't do it.

Second, nobody wanted to buy it anyway.

Here's what I found: https://www.ccn.com/trumps-petro-ban-cryptocurrencies-ignore-invisible-lines/

But the coin itself seems pretty shady so I wouldn't worry too much about it ;D It's whatever.

Of all the good fishes in the sea to invest in, I cannot even imagine myself to go all the way choosing a shit coin that is backed up by a F****d up government who are in the whole thing for their own political gains. I know the whole thing with Trump may be political anyway, but really before saying it, every sane person already know what coin to invest in and what not to even breathe.

if I can know what is meant by petro bro?
and what does it have to do with the crypto currency if it is so influential with altcoin that is currently dropping dramatically?

I would never side with Trump. So this isn't about that.

But the petro is a shit coin made up by a dictator who's using the cryptocurrency hype to hide the problems of his country, his people, and to favor Russia.

I'm Venezuelan, not that it matters too much.

Obviously, but I guess Trump was just angry and decided to think out loud. Venezuela have a lot of history with corruption which has led to so many things and the government coming up with a way to siphon more into their pocket from the gullible ones globally sounds funny they think they can easily pull that off. Shit coin that is not even a cryptocurrency and is not even oil backed but just a pure scam from a shitty government. (Sorry Venezuelans!)

I banned petro even before Trump did and I guess he is even making a late call. Who would want to invest in a coin that is going to be highly manipulated and the history of the country itself… (mute)… Petro is not a cryptocurrency and there is no one who will even bother investing in a shit coin that obviously will not bring anything good than just some top government officials enriching themselves.