https://www.youtube.com/watch?v=CdtXu2CmEiIThis is pretty huge news. And yes, this is is not a fake, this is the real footage:
https://www.youtube.com/watch?v=EUNLSBtdFZYIt's in spanish, unfortunately there are no subtitles. Someone could add them? Im sure a video with subtitles would get a lot of views in the coming hours.
Apparently, it the cryptocurrency will be backed by their own petrol reserves, thus ditching the "petrodollar" to have their own dollar backed cryptocurrency.
Fascinating times to live in. I wonder how this would develop. If someone has more details post below, including a translated video.
Even were the Petro price ZERO, I would be inclined to short it.
Anyone believing a word that Ratbag Maduro says obviously knows nothing of him and Venezuela’s current plight, brought on by thieves Chavez and Maduro.
“Secured” by Venezuela’s oil, LOL....
Don't get me wrong, I know it will most likely be a trainwreck, since the management skills of the Venezuelan government aren't what you would call too bright.
But it's still an interesting to see happening, you are going to see this talked about pretty much worldwide now, and it will put the topic of cryptocurrencies into the mainstream media, and this is always good, even if the news aren't positive or directly have to do with bitcoin.
Case in point, I discovered bitcoin because back then I saw it on the news, they were saying it was used by terrorists, I did some research on the internet and found this forum and I realized how mainstream media was clueless.
If these news can help just 1 person to find bitcoin and do his own research, then it's a positive.