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1) Beware scammers: You can only buy Petros from the official page (see Links below), nobody else can sell Petros (until licensed exchanges will be announced).
2) I have no connection with the Petro project or the Venezuelan government. I am just someone very interested in Venezuelan and Latin American affairs, crypto currencies and blockchain technology. Therefore I am interested in Petro.
3) Venezuela is definitely not a "communist dictatorship", not even close.
Beware propaganda/fake news: Read more: https://bitcointalk.org/index.php?topic=3006037.msg30999077#msg30999077
Petro (PTR)
The first State-issued cryptoasset
Official links
Official Petro website [SPANISH]: https://www.petro.gob.ve/
Official Petro website [ENGLISH]: https://www.petro.gob.ve/index_eng.html
White paper (ATTENTION: this gets often updated): https://www.petro.gob.ve/whitepaper_eng.html
Petro Wallet: https://www.petro.gob.ve/wallet_eng.html
NEW! REGISTRY EXPLORER: http://explorador.petro.gob.ve/
Official social media accounts
Twitter SPANISH: @cryptopetroes https://twitter.com/cryptopetroes/
Twitter ENGLISH: @cryptopetroen https://twitter.com/cryptopetroen/
Instagram: https://www.instagram.com/cryptopetro/
Facebook: https://www.facebook.com/cryptopetro/
Background
What is it?
Petro ($PTR) will be a sovereign crypto asset backed by oil assets and issued by the Venezuelan State.
Venezuela
Venezuela possesses the largest proven reserves of crude oil in the world (300,900,000,000 barrels), as well as great advantages in terms of energy, including an electric system subsidised by the same oil revenues. Therefore Venezuela is the cheapest country to mine Bitcoins and other cryptocurrencies (https://www.newsbtc.com/2018/02/21/venezuela-named-cheapest-country-mine-crypto-petro-launched/). With the introduction of Petro, the Venezuelan government is also legalising and regulating the crypto miners in the country (mining was largely practiced but it was formally illegal). The Venezuelan state will accept payments for taxes, fees, contributions, public services and international trade in crypto currencies and Petro, boosting the mass adoption of Bitcoin and other cryptocurrencies.
Blockchain technology
The Petro will be based on the NEM (New Economy Movement) platform. See the White Paper for more details. And read more about NEM: https://nem.io/
Supply
A total of one hundred million (100,000,000) Petro will be issued. The Venezuelan State will not be able to make new emissions of Petro.
82,400,000 tokens will be offered to the market in two stages, a pre-sale and a public ICO. They will be distributed according to the following list:
- 44.0% will be available for the initial public offering of the cryptoasset.
- 38.4% will be available for private sale
- 17.6% will be retained by the Venezuelan Superintendency of Currency and Related Activities (SUPCACVEN)
The Petro launch will be divided into two stages: a Pre-sale and an Initial Coin Offer (ICO)
Pre-sale
This process will allow all people to register and make an offer (in USD, EUR, BTC or ETH).
Tokens available: 38.400.000
Reference Selling Price: USD 60 - discount (approx.)
Start date and time: February 20, 2018 at 08:30 a.m. (Venezuela time, -04:00 GMT).
Closure date and time: March 19, 2018 at 23:59:59 p.m. (Venezuela time, -04:00 GMT).
ICO
Total Petro available for sale: 44,000,000
Reference Selling Price: USD 60 - discount (approx.)
Start date and time: March 20, 2018 at 08:30 a.m. (Venezuela time, -04:00 GMT) < WE ARE HERE!
Closure date and time: Until the Petros of the first emission are exhausted
Incentives
An incentive system has been designed for investors who purchase Petro on a private sale basis and ICO. From the White Paper (page 21):
(Source: the official Petro white paper)
I will try to keep this thread up to date with the latest information from official sources and invite everybody to do the same. Please, be responsible and avoid spamming or posting unofficial payment instructions!
