Venezuela moves to issues "petro" crypto

[omonuyak]

This is a good development and that means one has to buy this coin immediately it hit the market because it is going to surge. I think we are at the era of cryptocurrencies development and any country that adopt it now will really benefit from it. Venezuela is one of the country that got cryptocurrencies in mind and I think things are going to work out well.

[1714184731]

1714184731

[1714184731]

1714184731

[1714184731]

1714184731

[stompix]

Petrodollars are essentially bonds of digital currency.
Petrodollars have raised $3 billion from investors in 127 countries.
To some extent, venezuela's economic crisis has been alleviated!

Alleviated? They are going to need 300 billions to alleviate this crisis, and nobody believes those 3 billions invested in petrocoin are actually real.
Just this year Venezuela has to pay 2 billions to Conoco and 1 billion to Gold Reserve  Mining.
Plus, seems like China is not eager to continue thir 0 interest loans and might pull the plug , and there are 60 billions on the table.

This is a good development and that means one has to buy this coin immediately it hit the market because it is going to surge. I think we are at the era of cryptocurrencies development and any country that adopt it now will really benefit from it. Venezuela is one of the country that got cryptocurrencies in mind and I think things are going to work out well.

Yeah, it's going to surge.......
This coin was supposed to be backed by a barrel of oil. Why would it surge since there is nothing backing up a higher value?
Plus, what is the price of oil goes down?

But.....go and invest! All of you that believe in this national scale scam.
In a few years everybody will laugh when reminded of this project.

[tomahawk9]

Petrodollars are essentially bonds of digital currency.

Petrodollars have raised $3 billion from investors in 127 countries.

To some extent, venezuela's economic crisis has been alleviated!

It's Petro, not Petrodollars...
"crisis has been alleviated"? is this a joke? $3 billion does absolutely nothing to alleviate such economic disaster. And you're being very naive by thinking that all the money raised from Petro is going towards the recovery of the country.

This is a good development and that means one has to buy this coin immediately it hit the market because it is going to surge.

Sure, a centralized cryptocurrency (called a scam by reputable companies/websites/etc) created by a dictatorship from a third world country that's suffering from hyperinflation is going to surge...yeah, better invest in Petro rather than other reputable cryptocurrencies in the market.  /s

[swapblocks]

The Petro is an interesting case. It's more like a commodity coin than a currency, but then again is also similar to the gold standard, except under the gold standard you could redeem the physical gold at a bank. I doubt anyone is redeeming barrels of crude lol. However, I saw a headline yesterday that Venezuela was going to offer a 30% discount on crude to anyone who purchased the oil using the Petro.

Can't verify the claim, that's a big discount tho so if it's true people will def use it for that at least.

[Digital_Lord]

http://www.bbc.com/news/world-latin-america-42217798

BBC reports Venezuela is moving to Petro coin to fix economy. Will this help? Will it hinder things? Will it bring negative light to crypto? First country to go totally crypto?

Personally, I see more inflation and Petro failing terribly.

I do not think the country is ready. Anyway this is just my opinion but how about the poor? Do they consider them? Crypto coins are volatile and I do not think its good for them to use. For me it is too risky for them.

Venezuelan President Nicolás Maduro has stated the Petro would be backed by Venezuela's oil, gas, gold and diamond wealth. So, it will reduce the volatility. But yeah, the problem is if there is a majority of people lack understanding technology, the coins would hard to use for them. Except the governments made it friendly to use.

cryptocerrency must be supported with technology needed, we know venezuela is a country that is degraded its economy, i think like gambling, want to restore economy without solid foundation

Man, what I’m seeing is the highest level of stupidity coming from a whole country. How can a country be talking about going all in on cryptocurrency. How many people do you think has access to the internet and how many do you think are interested in it? There are people who can’t even get fiat not to talk of cryptocurrencies that are difficult to handle. And by the way, if they choose to make use of cryptocurrencies instead of fiat they will be cutting themselves out from the world, cause they will have no banks. Even if they do have banks that operates with cryptocurrencies, other countries are not interested in such.

[inesterdd]

I wonder how this coin will affect the world. And where is this "petro" traded, only in the country or somewhere on the stock exchange?

[gandhe83]

Petrodollars are essentially bonds of digital currency.
Petrodollars have raised $3 billion from investors in 127 countries.
To some extent, venezuela's economic crisis has been alleviated!

Alleviated? They are going to need 300 billions to alleviate this crisis, and nobody believes those 3 billions invested in petrocoin are actually real.
Just this year Venezuela has to pay 2 billions to Conoco and 1 billion to Gold Reserve  Mining.
Plus, seems like China is not eager to continue thir 0 interest loans and might pull the plug , and there are 60 billions on the table.

This is a good development and that means one has to buy this coin immediately it hit the market because it is going to surge. I think we are at the era of cryptocurrencies development and any country that adopt it now will really benefit from it. Venezuela is one of the country that got cryptocurrencies in mind and I think things are going to work out well.

Yeah, it's going to surge.......
This coin was supposed to be backed by a barrel of oil. Why would it surge since there is nothing backing up a higher value?
Plus, what is the price of oil goes down?

But.....go and invest! All of you that believe in this national scale scam.
In a few years everybody will laugh when reminded of this project.

Maybe this is a good project and it means that people have to buy this currency immediately because it will hit the market because it will bring profit. I think we are in the e-money development phase and any country that applies it now will really benefit from it. Venezuela is highly capable of adapting and I believe its development is quite real. Strong belief in the Venezuelan state.

[itsik78]

I wonder how this coin will affect the world. And where is this "petro" traded, only in the country or somewhere on the stock exchange?

On the official website of the project. The process is not anonymous - you will need to register, providing passport data or any document that can identify the person. You will also need to specify the country of residence, contact phone number and email.

[paynercash]

Wthe world still embraces the centralized system as it happens in all countries today the inflation threat that skyrockets and makes the currency of no value can happen anytime, surely it needs a solution to replace the financial system with decentralization and I'm sure cryptocurrency is the solution to overcome all the financial crisis like in Venezuela.

At this time the market is very bustling and many fluctuations occur. However, the need to do now is a high security against any intrusion that can happen at any time. Big investors buy high security tools, the rest is limited social networking sites hackers can come at any time. Protect your assets against this financial crisis.