There is no guarantee whatsoever that you will get a 30% - or any - discount by making a pre-sale offer.
According to the white paper a (relatively small) part of the tokens will be sold with 30% discount, then the discount will be lower. But from my understanding ALL the tokens sold during the pre-sale and ICO will be discounted, compared to the full oil barrel price. |
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Venezuela is a collapsing economy that is failed due to corruption and failed economic policies, but everything according to them is the fault of outside influences on the pristine, innocent socialist revolution. Millions are fleeing Venezuela and those that stay are starving.
Don't be more ridiculous than necessary, please. By the way, Venezuelan economy is in trouble due to US sanctions (that make it impossible to trade in USD and even get medicines and food from near countries, allied/puppets of the US like Colombia) and historic oil price collapse since 2014 (oil represents more than 90% of exports income, which is about 15-20% of GDP, therefore it was a significant reduction in revenue). The current economic crisis in Venezuela is not a "normal" recession crisis. It's a fabricated crisis, supported by years of massive propaganda job. Some argue "corruption" and "bad policies" are the reason of everything: sorry, no corruption makes it impossible to get medicines and food from neighbouring countries, mostly because Venezuela has the money to pay for food and medicines, but now has to import it from India, Russia, China, because the US, Brazil, Colombia and others boycott them. Petro is one of the answers to overcome (at least partially) the sanctions, that are totally illegal for the UN and the international law. The Petro is therefore not only a revolutionary crypto currency, the first issued by a State, it is also a legitimate and useful one, for the people of Venezuela. And a good example for other countries. |
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186.306 of what? petro? if i remenber well 1 petro is 19$, so more that 3.5 million dollars has been raised!
No, 186.306 are just offers you can make on the Petro pre-sale page, without paying (you cannot buy Petros yet, need to wait at least until 20th March, beginning of public ICO). So it's likely that real payments will be lower. The price of 1 Petro is about $60 USD (Venezuelan oil barrel price - the official price is in the Ministry of Petroleum web page). But there are discounts during the pre-sale and ICO. The total value of the offers is still unknown, but last government statements say it's around 3-4 Billion USD (again, this comes from offers, not real payments). In any case the ICO will be open until all coins (82.000.000) are sold. Why the pre-sale offers? Because if you make an early offer you can get big discounts, up to 30% on the oil barrel price (only a small part though, see white paper). Maduro statement on Petro offers (SPANISH): https://www.americaeconomia.com/economia-mercados/finanzas/criptomoneda-venezolana-petro-suma-mas-de-186000-ofertas-de-comprasOfficial Venezuelan oil barrel price (in YUAN, see bottom of the table for conversion rates): http://www.mpetromin.gob.ve/portalmenpet/secciones.php?option=view&idS=45 |
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I read a lot of confusion (and even ignorant or hysterical insults) about Venezuela and South America: this is normal, the narrative on Venezuela has been built in years of propaganda. For those who are interested in this US aggression against Venezuela (same as Iran and Russia), its reasons and features, this documentary directed by Colombian journalist Hernando Calvo Ospina ( @hcalvoospina ), only 38 min. but contains a lot of information: Venezuela, the hidden agenda
https://youtu.be/f1zl-k6QQj0This is very helpful to understand the context of the Petro and some of the propaganda constructs: the media aggression, the US sanctions, the threats, why so much hate and hysteria around it? The name of Petro is no coincidence. |
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[NEWS] As of today the offers are as follow (according to a statement from Maduro on 5th March):
Total offers: 186.306 (from 127 countries)
41% dollars
34% Bitcoin
17.9% Ethereum
6.5% euros
0.3 yuans
It's interesting that more than 50% of the offers are in crypto. This would make Venezuela the largest (known) crypto State reserve in the world.
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No. Since the 20th February it has always been the same:
That's not true. I have the different versions of the white paper. Yes, you are right. The White Paper has changed once since the 20th February. And it was the update I already mentioned: the ICO token will be based on the NEM blockchain (which is confirmed so farr). NEM tokens will be exchangeable for Petros (presumably Ethereum ERC20, but this is not explicit in the new White Paper).As I said earlier, this project was announced in December 2017, it's extremely young. Things can change, the Petro is under development as we discuss here, but so far we haven't had any major change since the 20th of February. So the only thing to do is: stay tuned! |
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No. Since the 20th February it has always been the same:
- The Petro will be an Ethereum token
- The ICO will sell NEM tokens that will be exchangeable when the Petro will be ready
The White Paper refers to a beta (obviously this project is very recent, announced in Dec 2017, and it's being developed in record times), so it would be normal if there are important changes.
But it hasn't changed since the pre-sale launch. It might change in the future though.
Simple: stay tuned.
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I think this project seems a lot unclear to many investors. Changing laws, erc-20 then to Nem.
Actually the western media made the project unclear (and there are many dirty political reasons and bias why this massive FUD happens). The 2 documents and the process has been pretty straightforward since the beginning. The Petro will be based on Ethereum (ERC20) but the ICO will provide tokens on the NEM blockchain, that will be exchangeable in Petros once the network is launched. That's it. |
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Whatever. More than that, with a third party clearly showing the lies and double game of a band of corrupted politicians (most of them are already millionaires or very rich), receiving millions of dollars from Washington (which would be illegal in many countries!), one must really believe anything. I guess that's all.
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Where is tne proof that a phone call from Colombia to Julio Borges, the chief negotiator of the opposition, stopped the months’ long process with a “No firme”?
Desperately clutching at straws. That's an irrelevant detail (the telephone call): the letter of Zapatero is the proof of the whole case (ie. US funded opposition takes order from the US: it couldn't be otherwise, they pay, they decide). Hypocrisy is out of control. The list of disasters provoked by US policies in the region is endless. Good luck with the Petro. |
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I agree it could be used short term in large scale but long term the fundamentals or supply and demand behind crypto currency do affect the value it holds.
This doesn't make any sense to me, sorry. Adoption is not speculation: adoption doesn't have short/long terms. Once a currency is adopted by millions of people and used for large scale oil trade (billions of USD), its demand gets high. Even if its value can be traded in speculative contexts (exchanges), it's hard to destroy without massive financial efforts. |
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Nothing of this makes the article academic and substantiated. It just explains why you think the author doesn't have to provide proof for some of his strong (false) claims because they are suposedly well known and public.
All he says is very simple and totally true, there are plenty of links in the article for the specific stories. As for events that refer to more than 2-3 years ago, it's very well known history that you don't clearly know nothing about but can find everywhere, including in a decent history book. The desperation to reinvent reality and deny the most obvious and proved facts is quite amazing. |
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The article is neither academic nor substantiated. Can you point me to any prove in the article that the sanctions of Canada and the European Union have aggravated the suffering of the Venezuelan people? Any prove that there is an economic war being waged against Venezuela since 1998?
It is, you're desperately biased trying to deny the impossible. The author is a UN expert and academic who writes reports for the UN and know well the situation in Venezuela, and he even reports things that are WELL KNOWN and public, if you don't read only propaganda press. All sanctions aggravate the suffering (in any country, as the UN has declared for decades now), for obvious reasons and regardless the specifics, because they harm the Venezuelan economy. The US sanctions are the most violent, but Venezuela has been isolated by almost all US allied markets: even countries that don't have "sanctioned" (which is illegal by the way) are not trading normally with Venezuela. It's a war. Nobody in South America, apart from Bolivia kept trade levels w Venezuela after 2014-15. The war against Venezuela started when Chavez showed he would be impossible to corrupt. Therefore the sabotages, massive strikes at PDVSA (that led even to import oil!) and the horrendous US coup in 2002. That's a copy of Chile treatment in the 70s. The US have done the same in all Latin America, nothing new. |
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no other crypto coin is receiving so much hate than Petro
and it's not released yet
lmao
It's called racism, as simple as that. Many people are totally brainwashed by US propaganda and cannot understand why a Latin American country would be able to create a local monetary system free from the USD and be able to trade freely. Even Venezuelans who dream to dream a surrogate of the US, prefer to see their country starving rather than fight against it. Also, US criminal sanctions would work less, if the Petro works. Too many reasons people are bombed by propaganda. If it's a success, it's a success 2X. |
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I couldnt care less about politics but the economics, I want Venezuela to find economic success with this Petro use and I really find that more likely with a sound link as seems to be proposed. A strong currency works both ways, I find worldwide many economies avoid this idea and favour paper printed which is not strength. Crypto is not about FIAT or fractional reserves, these are points of failure highlighted many times so far.
You are repeating this over and over again (the "backing"), but it seems you ignore all the other elements that can make the Petro strong. Mass adoption, large scale trade, etc. The backing is irrelevant if the Petro is used by million of people and for large sums, anyway. |
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The article is full of unproven and false claims, relies on questionable sources (Pasqualina Curcio, Alfredo Serrano ...) and rightly was rejected by the Georgetown Journal of International Affairs, even though it was commissioned - a decision very difficult for editors to take. In many parts it just repeats the Venezuelan goverment propaganda.
The article is obviously full of perfectly proven, detailed and strong claims that you simply don't like (also quite well known and certainly not secret), coming from someone who has worked as a UN expert on development for years. The rejection of the news outlet that commissioned it is an embarrassing show of how western propaganda works: an academic and substantiated research basically cannot be published because it doesn't confirm the US narrative. US sanctions and sabotage have harmed Venezuelan economy for 2 decades, but are now devastating it. Essay on Venezuela: https://dezayasalfred.wordpress.com/2018/03/03/essay-on-venezuela/ |
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It's so funny how so many are desperately trying to minimise the potential success of the Petro, hate is amazing LOL. Maybe the simplest thing is just wait the deadlines and see the facts. By the way, if someone likes to starve an entire country with sanctions for ideological reasons (which in practice means blocking medicines and food from entering, a typical US criminal strategy) and then blame the government for everything, well: keep going. The Petro could help with that, but it will take time because the boycott against Venezuela is massive. A very good article on the effects of the economic war and US sanctions on the economy and the people by Alfred de Zayas, who is an American lawyer and UN Independent Expert: https://dezayasalfred.wordpress.com/2018/03/03/essay-on-venezuela
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It is but this is only the pre-sale (with discounts), which is a private sale reserved to institutional buyers. The public ICO will start on March 19th and will last until all coins will be sold.
I suspect this info might not be correct. AFAIK the "white paper" (better said, the "white papers" since there have been different revisions of it in the last few weeks) nowhere says that the pre-sale is reserved to institutional buyers, it just says that it is private which is something completely different. In fact if you register online on the official Petro site for the pre-sale you can register also as a "Persona natural", receive an e-mail for the offer, make an offer and receive a .pdf to finalize the pre-sale, while not being an "institutional buyer". Moreover as per the declarations of Maduro and the government of Venezuela themselves there have been tens if not hundreds of thousands of "offers" (and users, both "companies" and "individuals") in the first days of the pre-sale, numbers and users categories which are incompatible with a sale supposedly reserved to institutional buyers. Yes, you can make an offer. But you cannot pay and get Petros yet (not even in the form of a contract), it is just a formal offer. I think that large institutional buyers might have been approached privately, but this is just my personal opinion. I doubt a Chinese or Indian oil refinery representative would register in the website as you and I, if they wanted to buy for example $20 million USD in Petros. Anyway, before the ICO we cannot buy Petros. Also because the network is still under development. |
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It would be, by far, the largest crowd funding in history and the most successful ICO in the history of crypto. Exciting.
Anyway the ICO is supposed to end only when ALL Petros have been sold and that means 82 million Petros * $58 USD = $4.75 billions (unless the government decides to stop the ICO before).
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