[PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela

[Axioman]

Venezuela among countries with more transactions in bitcoins equivalent to $ 500,000 a day




Data published by LocalBitcoins - a digital ecosystem created in Finland in 2012 - shows that in March a total of 4,692,432,595,741 bolivars were traded, that is, about 4.7 billion, equivalent to $ 15,301,172.34, a an average rate of $ 6,690.63 per bitcoin. In addition, with a rate of 2,152,480,113.50 bolivars per bitcoin, which gives a rate of 321,745.9, similar to that published by AirTM for March 30, 2018. A value that, in addition to being used as a new reference, is used by those who send remittances from abroad since 2013, according to records from the web, through "extra-stock" mechanisms, that is, without using intermediaries but using peer-to-peer technology such as the Uber company.


This exchange value between the dollar, the bolivar and the bitcoin comes from the offers of purchase and sale of users in Venezuela that finally ended in a successful transaction.

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[STT]

http://lared.com.ve/noticias/tareck-el-aissami-pretenden-imponer-precios-especulativos-de-criptomonedas-en-venezuela/ now the government blames bank accounts and speculation that harm El petro, but not their own mistakes.. like, I mean what kind of Soviet Union rhetoric is that to always blame some external enemies and never assume your own fault

https://www.youtube.com/watch?v=htLT6McxSzY
Yes that was my perception also.   The people who trade dollars are in the wrong for offering a free market price just like any other product in the country is that message I guess.   Its a very different principle to what I'm used to which is free competition, every dog has his day.    If one man sells  iced lemonade for 1 gold coin on a hot day, he is maybe profiteering but also this product can be sold by his neighbour for half a gold piece and then another will sell it for one tenth of a gold piece.     Before long the market will have found a good price for the consumer, the early sellers might get some profit and unfairly in the view of some but eventually the lions shares of profit (revenue) goes to the most efficient lemonade seller.   Or possibly just the best recipe !   Society benefits from competition, its the individuals who are risking loss mostly and I dont believe in regulators as a control or creator.

Its better to have too many sellers or even too expensive a product then ban the idea of the maker or company having the freedom to sell for whatever they like.   Establishing or making a market is also important and theres usually risk and costs to setup.     I'd apply that idea to anything even the money changers and sure maybe some take advantage but I'd rather have too many trying to make a profit then nobody and with high unemployment its essential to allow business. USA, EU has this problem also, normally their red tape laws include a clause that excludes a business of 50 or under otherwise it would be similarly oppressive.

If they did fail to progress PTR it was probably some conflict between these ideas, thats really for a market to work out and risk in ventures.     Not a fan of  excessive control, it can extinguish growth when new market sectors need plenty of air in their beginnings

[Axioman]

http://lared.com.ve/noticias/tareck-el-aissami-pretenden-imponer-precios-especulativos-de-criptomonedas-en-venezuela/ now the government blames bank accounts and speculation that harm El petro, but not their own mistakes.. like, I mean what kind of Soviet Union rhetoric is that to always blame some external enemies and never assume your own fault

https://www.youtube.com/watch?v=htLT6McxSzY
Yes that was my perception also.   The people who trade dollars are in the wrong for offering a free market price just like any other product in the country is that message I guess.   Its a very different principle to what I'm used to which is free competition, every dog has his day.    If one man sells  iced lemonade for 1 gold coin on a hot day, he is maybe profiteering but also this product can be sold by his neighbour for half a gold piece and then another will sell it for one tenth of a gold piece.     Before long the market will have found a good price for the consumer, the early sellers might get some profit and unfairly in the view of some but eventually the lions shares of profit (revenue) goes to the most efficient lemonade seller.   Or possibly just the best recipe !   Society benefits from competition, its the individuals who are risking loss mostly and I dont believe in regulators as a control or creator.

Its better to have too many sellers or even too expensive a product then ban the idea of the maker or company having the freedom to sell for whatever they like.   Establishing or making a market is also important and theres usually risk and costs to setup.     I'd apply that idea to anything even the money changers and sure maybe some take advantage but I'd rather have too many trying to make a profit then nobody and with high unemployment its essential to allow business. USA, EU has this problem also, normally their red tape laws include a clause that excludes a business of 50 or under otherwise it would be similarly oppressive.

If they did fail to progress PTR it was probably some conflict between these ideas, thats really for a market to work out and risk in ventures.     Not a fan of  excessive control, it can extinguish growth when new market sectors need plenty of air in their beginnings

------------------


Imagine that the government sells lemonade at $ 0.1. But he only sells 100 lemonades every two months. What do the 100,000 people who need lemonade every month to live, buy, work, ...?

The Bolivarian regime is a monopoly imposed, limited, sectoral (only friends receive the lemonade) and ruinously managed

[kriptokraker]

http://lared.com.ve/noticias/tareck-el-aissami-pretenden-imponer-precios-especulativos-de-criptomonedas-en-venezuela/ now the government blames bank accounts and speculation that harm El petro, but not their own mistakes.. like, I mean what kind of Soviet Union rhetoric is that to always blame some external enemies and never assume your own fault

https://www.youtube.com/watch?v=htLT6McxSzY
Yes that was my perception also.   The people who trade dollars are in the wrong for offering a free market price just like any other product in the country is that message I guess.   Its a very different principle to what I'm used to which is free competition, every dog has his day.    If one man sells  iced lemonade for 1 gold coin on a hot day, he is maybe profiteering but also this product can be sold by his neighbour for half a gold piece and then another will sell it for one tenth of a gold piece.     Before long the market will have found a good price for the consumer, the early sellers might get some profit and unfairly in the view of some but eventually the lions shares of profit (revenue) goes to the most efficient lemonade seller.   Or possibly just the best recipe !   Society benefits from competition, its the individuals who are risking loss mostly and I dont believe in regulators as a control or creator.

Its better to have too many sellers or even too expensive a product then ban the idea of the maker or company having the freedom to sell for whatever they like.   Establishing or making a market is also important and theres usually risk and costs to setup.     I'd apply that idea to anything even the money changers and sure maybe some take advantage but I'd rather have too many trying to make a profit then nobody and with high unemployment its essential to allow business. USA, EU has this problem also, normally their red tape laws include a clause that excludes a business of 50 or under otherwise it would be similarly oppressive.

If they did fail to progress PTR it was probably some conflict between these ideas, thats really for a market to work out and risk in ventures.     Not a fan of  excessive control, it can extinguish growth when new market sectors need plenty of air in their beginnings

------------------


Imagine that the government sells lemonade at $ 0.1. But he only sells 100 lemonades every two months. What do the 100,000 people who need lemonade every month to live, buy, work, ...?

The Bolivarian regime is a monopoly imposed, limited, sectoral (only friends receive the lemonade) and ruinously managed

That's true man, and if we imagine that lemonade is El Petro then the government only promises to sell it but it never comes. That's just an instrument for them for Holding the power because it gives a sense that they are working on something great when they virtually haven't produced anything. I feel like it's time to stop pretending they are working on El Petro and at least deliver daily necessary products to the people

[apelopus]

What’s the point in writing huge comments with deep analysis, when the truth is, Venezuela itself has serious diplomatical and economical problems, like hyperinflation, oil industry crisis, suspension from OAS and never ending losses of allies... Of course, the government simply won’t admit its mistakes, because there might be a coup soon if the situation continues. And El Petro is obviously failing

[EHEP]

What’s the point in writing huge comments with deep analysis, when the truth is, Venezuela itself has serious diplomatical and economical problems, like hyperinflation, oil industry crisis, suspension from OAS and never ending losses of allies... Of course, the government simply won’t admit its mistakes, because there might be a coup soon if the situation continues. And El Petro is obviously failing

I sure that I'm fortunate to have access to all of these enlightened economic and political opinions...but I prefer to wait, quietly, and see.

[Axioman]

What’s the point in writing huge comments with deep analysis, when the truth is, Venezuela itself has serious diplomatical and economical problems, like hyperinflation, oil industry crisis, suspension from OAS and never ending losses of allies... Of course, the government simply won’t admit its mistakes, because there might be a coup soon if the situation continues. And El Petro is obviously failing

I sure that I'm fortunate to have access to all of these enlightened economic and political opinions...but I prefer to wait, quietly, and see.

Then sit and wait. But if you analyze, it would be better.

And remember, the blockchain is the same for big investors as for small investors.

[taseenb]

http://lared.com.ve/noticias/tareck-el-aissami-pretenden-imponer-precios-especulativos-de-criptomonedas-en-venezuela/ now the government blames bank accounts and speculation that harm El petro, but not their own mistakes.. like, I mean what kind of Soviet Union rhetoric is that to always blame some external enemies and never assume your own fault

Ridiculous bullshit as usual. Try to invent something new and learn some history. I'm getting tired of this useless thread filled w spammers who simply repeat US propaganda and racist hate, and know nothing about nothing.

The launch of Petro has been not only boycotted by the 100% of the western press and financial world (because of 2 decades of anti-Venezuelan propaganda based on fake news and lies), but the Petro has also been directly sanctioned by the United States (only forbidden coin in the US) and internally attacked by the US-funded opposition. I don't even add that Venezuela went through a coup in 2002 (sponsored by the US) and suffers from financial sanctions that make it IMPOSSIBLE to trade regularly. I don't add that all US latin American allies (enslaved and corrupted) have boycotted Venezuelan companies for years now. And don't even talk about the MASSIVE manipulation of the currency and the economy in order to destroy them.

What is that if not an aggression and a war?
What the fuck do you need to assume your ignorance and learn about who did what?
Who thinks the Petro has been launched in "normal" conditions is a total idiot (or a criminal).

[HolyGrey]

Is this a real thread? or just brought by impersonators?

[tippytoes]

What’s the point in writing huge comments with deep analysis, when the truth is, Venezuela itself has serious diplomatical and economical problems, like hyperinflation, oil industry crisis, suspension from OAS and never ending losses of allies... Of course, the government simply won’t admit its mistakes, because there might be a coup soon if the situation continues. And El Petro is obviously failing

I sure that I'm fortunate to have access to all of these enlightened economic and political opinions...but I prefer to wait, quietly, and see.

Then sit and wait. But if you analyze, it would be better.

And remember, the blockchain is the same for big investors as for small investors.

I'm curious where this is going or if there's really future for this project. The world of crypto is fast evolving, everything is possible but you need to be vigilant and trust your own instincts.

[Axioman]

AND WHILE...


13 JUNE, 2018 BY EDITOR
FOR THE FIRST TIME, CITGO SEEKS SUPPLIES AS AN ALTERNATIVE TO THE PAYMENT OF PURCHASES TO PDVSA

 

Citgo has been buying crude from several countries because Petróleos de Venezuela (PDVSA) has not been able to meet the committed volume of heavy crude given the drop in its production and congestion in ports that has slowed shipments, according to operators.

As of June 11, PDVSA had about 23 million barrels of crude waiting to be shipped from the Jose terminal and the Paraguaná Refining Center (CRP), where it began to make transfers from ship to ship, according to data from vessel tracking and commercial flows.

Citgo Petroleum, the refining unit of Venezuela's PDVSA in the United States, is increasing purchases of crude oil in the open market due to the impossibility of obtaining sufficient supply from its troubled parent company, traders said Monday.

The decrease in oil production, the lawsuits of creditors, the shortage of spare parts for terminals and the flight of executives have reduced the capacity of PDVSA to export oil.

Exports of crude oil are Venezuela's main source of income, but the OPEC member has registered a drastic drop in shipments in recent months, to 1.17 million barrels per day (bpd) in May from 1.24 million bpd in April, indicated trade data from Thomson Reuters.

Citgo in recent weeks has been buying Colombian and Ecuadorian heavy crude on the spot market, as well as Azeri Light crude from the Black Sea region and heavy crude and medium-sized Arabs, according to Reuters data and operators.

PDVSA has sent crude from other grades, including Corocoro and Pedernales, but only in small volumes. "They are looking mainly at heavy Latin American grades," said an operator who sold two shipments of crude to Citgo for delivery in June.

Citgo has a "contingency plan" to diversify imports if the Venezuelan supply decreases further, according to one employee, who declined to be identified because the information is private. The plan has not yet been activated, he added.

[cryptoviagra]

http://lared.com.ve/noticias/tareck-el-aissami-pretenden-imponer-precios-especulativos-de-criptomonedas-en-venezuela/ now the government blames bank accounts and speculation that harm El petro, but not their own mistakes.. like, I mean what kind of Soviet Union rhetoric is that to always blame some external enemies and never assume your own fault

Ridiculous bullshit as usual. Try to invent something new and learn some history. I'm getting tired of this useless thread filled w spammers who simply repeat US propaganda and racist hate, and know nothing about nothing.

The launch of Petro has been not only boycotted by the 100% of the western press and financial world (because of 2 decades of anti-Venezuelan propaganda based on fake news and lies), but the Petro has also been directly sanctioned by the United States (only forbidden coin in the US) and internally attacked by the US-funded opposition. I don't even add that Venezuela went through a coup in 2002 (sponsored by the US) and suffers from financial sanctions that make it IMPOSSIBLE to trade regularly. I don't add that all US latin American allies (enslaved and corrupted) have boycotted Venezuelan companies for years now. And don't even talk about the MASSIVE manipulation of the currency and the economy in order to destroy them.

What is that if not an aggression and a war?
What the fuck do you need to assume your ignorance and learn about who did what?
Who thinks the Petro has been launched in "normal" conditions is a total idiot (or a criminal).

So why involve innocent investors from outside the country??? We get that it is not a normal process with Petro,, why not involve your own people and country first then involve external investors that believed in Maduro and his vision? Explain please
...thank you

[coinve]

venezuelan president, Nicolas Maduro, said:
"soon there will be new news about petrocoin".

[Axioman]

Venezuela is a country not a dictatorial regime:

The Venezuelan Parliament, of opposition majority, declared this null the decree of the emission of the petro cryptocurrency announced by the country's president, Nicolás Maduro, because, he assured, it is an "illegal" currency that violates the provisions of the Constitution.

With a unanimous vote of the opposition deputies and the absence of Chavism, the Parliament agreed to "declare void the decree that creates the petro for violating the Constitution and laws" and warned "potential investors and market players of cryptocurrencies about the illegality "of it.

In a debate of approximately half an hour the Parliament indicated that Article 12 of the Constitution establishes that the oil reserves and the country's riches are "inalienable".

He also noted that "public credit operations" require "for its validity a special law that authorizes" and must pass through approval of the National Assembly (AN, Parliament).

On Friday, President Maduro announced the issuance of 100 million "petros" which, he said, equals the value of a barrel of oil from the Caribbean country in the international market.

"I have ordered the issuance of 100 million petros with the legal sustenance of the Venezuelan oil riches," the Chavez president said after the first council of ministers of the year.

"Each petro is going to have a value equal to the price of the oil barrel of the Venezuelan basket," he added. The Venezuelan barrel quoted on Friday at 59 dollars.

Today the opposition deputy Jorge Millán, responsible for opening the debate, said that "illegally the government tries to compromise" the oil reserves and that the announcement of Maduro is "about a new indebtedness on the part of the Republic."

"The first thing (...) is that this cryptocurrency is not a cryptocurrency because it is simply a future sale of the Venezuelan oil tanker," he said and asked: "Who will trust a government that owes approximately 690 million dollars in bonds? of (the state oil company) PDVSA defeated? ".

He also insisted that the cryptocurrency is "illegal" since the oil that has been pledged to issue them "has not gone through the procedures of the AN to enter into a concession for exploitation."

"Whoever invests there has no real guarantees of that supposed oil that they are offering," because "the Republic will not be held responsible" for that when "the Republic returns," he added.

For his part, Congressman Williams Dávila said that with this currency what will be done is "legitimize transactions illegally, money laundering, drug laundering, laundering of corruption."

[coinve]

Cryptoactive Treasury of Venezuela‏ @tesocriptove
Petro (PTR) Price (Jun 15, 2018):
USD 65,65
EUR 56,66
CNY 420,00

---

first encounter with blockchain development companies in Venezuela, Jun 25.
https://pbs.twimg.com/media/DfqM_VBXcAARpR2.jpg

[EHEP]

La Comisión Presidencial de Economía, instancia creada por el presidente de la República, Nicolás Maduro, debate este viernes los alcances de la implementación de la criptomoneda nacional, el petro, como un mecanismo innovador para superar las sanciones y bloqueos financieros impuestos por las potencias extranjeras.

http://www.laiguana.tv/articulos/93271-comision-presidencial-economia-debate-alcances-petro-economia-digital

[Axioman]

La Comisión Presidencial de Economía, instancia creada por el presidente de la República, Nicolás Maduro, debate este viernes los alcances de la implementación de la criptomoneda nacional, el petro, como un mecanismo innovador para superar las sanciones y bloqueos financieros impuestos por las potencias extranjeras.

http://www.laiguana.tv/articulos/93271-comision-presidencial-economia-debate-alcances-petro-economia-digital

Always the same, pure chatter but not an explanation of why there are no more transactions in the platform of NEM.

[Axioman]

where are the petros ??

a deception, pure smoke, another scam, from the Bolivarian regime to the Venezuelan people

[Axioman]

june-7-2018

The purchase of Bitcoins in Venezuela has risen during the last quarter

The interest of Venezuelans in buying Bitcoin has increased significantly in the last three months. In a CriptoNoticias report published on Wednesday, June 6, LocalBitcoins data were cited representing a trade volume of approximately 6,918 billion bolivares, which is equivalent to 582 bitcoin at the time of writing.

Venezuela experienced its first cryptocurrency boom in early 2017, when a record volume of 805 bitcoins exchanged in a week was established.

After that, the level of interest for crypto in Venezuela decreased, coinciding with a decrease in the volume of transactions to only 150 bitcoins bought per week.

However, according to CriptoNoticias, in early and mid-2018, the investment in Bitcoin increased again in the Caribbean country, as shown by the LocalBitcoins exchange data. The volume of the Venezuelan bolivar to the Bitcoin exchange increased by 138% from March to April, and by 39% more from April to May.

CriptoNoticias also points out that the first week of June was in line with this scale. During the last week of May, approximately 4.9 trillion bolívares were spent in bitcoins, while in the first week of June the volume grew 40.8% to 6.9 trillion.

In addition, the growing interest in Bitcoin is linked to hyperinflation in Venezuela. As Bolívar continues to fall, at the end of May, hyperinflation in the country exceeded 25,000%, according to Forbes. For years, the Central Bank of Venezuela has not issued official figures for inflation in the country, which is why external references are used for this type of studies.

According to Similarweb, Venezuelans represent the majority of the Localbitcoins audience, followed by US visitors. UU and the United Kingdom.

Despite the crisis, the demand for BTC in other Latin American countries is notoriously lower than in Venezuela, where in addition to the inflationary process, access to foreign currency is restricted.

Subsequently, it is mentioned that during the month of May the following amounts of BTC were exchanged in Localbitcoins in these countries: Colombia, 597 BTC; Peru, 327 BTC; Brazil, 163 BTC; Mexico, 156 BTC; Chile, 121 BTC and Argentina, 67 BTC.

[Axioman]

http://explorer.nemchina.com/?#/s_account?account=NBC2LLR5W2NSH6MYI7O6PT7OF34CSL55L27ZXTQZ

http://explorer.nemchina.com/?#/s_account?account=NATWRRG53SJCYGRRDYEX4YVEHX3U2OKNMX6TNPHS

http://explorer.nemchina.com/?#/s_account?account=NC2LEUTTZVOZLP6TBZSZFWTFR3MQ7O3LXZYXRRM4

http://explorer.nemchina.com/?#/s_account?account=NCGBBZKOTERO3EXMPPCNDNDXZQQJXBEMWWO7MB66


Only in the first there are some movements (the rest is the origin), but they are derisory according to the smoke sold.