Bitcoin Forum

http://money.cnn.com/2018/03/19/news/economy/trump-bans-venezuela-cryptocurrency-petro/index.html

You see this in the news today?

First off, ban or not, I'll buy any coin I damn well want to.  The very nature of cryptocurrencies is that governments cannot control them.  And I challenge any government to stop me.

Second, only an IDIOT would buy the Petro coin in any case, as its value will go in only one direction - down.

I just made this post in the first forum I came to here on bitcointalk, because our whip-cracking moderator will move it to whatever section he/she/it feels like moving it to.

How would this even be enforced? Will they even try?

Seems like the best they can do is offer a suggestion not to purchase it. I agree with you that purchasing this crypto would be a terrible move.

If Trump bans it - now we have to buy!

This ban is a followup to sanctions placed on Venezuela before Trump came into power, so it is not Trump unilaterally making this change. Please do a little research.

Regardless of Trump, buying this currency is probably the most stupid thing to do indeed. Whatever the venezuelans try to do under their current regime, the will fail. At literally everything they try.

super agree with everything you said

Trump can make some good things (like a chicken from South Park))

Will it affect other crypto prices?
what is the only effect for petro crypto coin venezuela?

If the americans encrypt the currency, petro, it will relieve venezuela's economic crisis to some extent!

But the U.S. government clearly doesn't want to see that, and they want venezuela to be a mess.

So they can intervene in their economy!

Venezuela's President is a dictator, and their current economic crisis is a result of corruption and corruption.

The President of the United States clearly does not want the American people to pay their bills for their folly!

This may be an American economic analyst who thinks that venezuela's oil cryptocurrency is meaningless!

There is cheating! Because venezuela's President is a dictator.

Their digital encrypted currency has no credit guarantee!

I do not know how Trump would control the purchase of a decentralized currency, just as it does not explain the interest of some investors in a currency that is based on a project that has not been entirely transparent.

I never think buying Petro coin is a good idea. If you want petro => buy Oil or Petro in commodity market instead (eToro, icmarkets...)

The funniest thing is that Maduro tweeted at the time that the private auctions raised $735 million, This is a big lie lol

Of course, Trump has been giving some sanctions to the venezuela. last year trump prohibits any transaction between US person with PDVSA and for the more information and this link will help a lot.
https://www.state.gov/e/eb/tfs/spi/venezuela/

And there is another FAQs regarding Venezuela related sanction or it's called OFAC.

That news would not make a surprise for anyone if trump gives another sanction to Venezuela especially for petro.

Because US regulators are against Petro crypto.

Wow, is there anything Trump can't do?
Seriously though, don't buy Venezuelan petros, for every one coin you hold you owe the Russians 50 bucks.

First, Petro is very unneccessary coin to buy as its not truly backed by Venezuela's oil at all. Second, OP is completely right you can personally buy whatever coin you buy. This decision doesn't fit "land of free"..

I do not understand who and why it is buying. This is completely meaningless. Given Venezuela's reputation, one can be sure that investors simply throw money away.

Before blaming Trump for literally everything controversial or different that happens in the world, please consider reading the following quote:

At first, I thought that the idea of the Venezuelan cryptocurrency is good.  But now it becomes clear that this introduction will not lead their country out of the crisis, as its residents must buy this coin for dollars.  And if you consider that the majority of Venezuelans live very poorly, it becomes clear that the introduction of the cryptocurrency Petro was not done for everyone, which is very stupid.

No. Not if Venezuela starts requiring payment in Petro to buy crude oil from them. Maybe thats what Trump thinks will come next.

The Russians were also involved in the Petro's creation. I think its only a test run before they start issuing oil backed tokens of their own.

Report: Russians Helped Venezuela Launch the Petro (https://www.coindesk.com/report-russians-helped-venezuela-launch-petro/)

I've heard that Petro is now outlawed not only in America. Since the country is under sanctions, then all of their actions fall under restrictions. But as for me, America in its style interferes with everything that does not concern it, the ruler of the world, however.