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

[coinve]

Agreed. But Venezuela should accept more secure cryptos too, like Monero and Zcash, so Americans can buy safely, without incurring in legal problems.

VPN, TOR...
a Petro Wallet in a exchange or a server outside U.S.

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[taseenb]

Agreed. But Venezuela should accept more secure cryptos too, like Monero and Zcash, so Americans can buy safely, without incurring in legal problems.

VPN, TOR...
a Petro Wallet in a exchange or a server outside U.S.

Tor is under US government control, so not a good idea to use it in general for anything that is illegal in the US. The problem is not the connection, but the money transfer during the ICO. You’re right that maybe I’ll be possible to access exchanges that trade Petros, but probably they won’t allow that either.

Anyway the goal of sanctions is to prohibit but also discourage. And they obviously manage to do it easily. It won’t change things as this was obvious.

[cryptoviagra]

monero or zcash could also be banned by usa if they officialy work with venezuela unfortunately....

[taseenb]

monero or zcash could also be banned by usa if they officialy work with venezuela unfortunately....

They don’t have to “work with Venezuela”. Venezuelan government should just accept them. They’re just coins in a blockchain and they cannot be banned, technically.

Otherwise the US should “ban” USD, Bitcoins and Ethereum too.

[foroplus]

But what´s the point in selling Petros by Dollars?
If this coin is posed to make Venezuela independent economically why Venezuela just don`t pay from now on with Petros to everybody?
To buyers, to their administration, to the people of Venezuela....., etc.
Why the want Dollars if that is the devil?

I don`t understand.

[happyminer1]

But what´s the point in selling Petros by Dollars?

Venezuela is in desperate need of (hard) foreign currency to pay its debts and imports. Foreign reserves are very low and exports too.

If this coin is posed to make Venezuela independent economically why Venezuela just don`t pay from now on with Petros to everybody?
To buyers, to their administration, to the people of Venezuela....., etc.

They can force their administration and the people of Venezuela to accept petros as payment, they cannot force their trading partners or creditors to do so.

[coinve]

But what´s the point in selling Petros by Dollars?
I don`t understand.

the venezuelan government wasn't selling the Petro only in dollars.

why Venezuela just don`t pay from now on with Petros to everybody?

later, when it will be accepted globally as a payment.
like ethereum, bitcoin...

[EHEP]

But what´s the point in selling Petros by Dollars?
If this coin is posed to make Venezuela independent economically why Venezuela just don`t pay from now on with Petros to everybody?
To buyers, to their administration, to the people of Venezuela....., etc.
Why the want Dollars if that is the devil?

I don`t understand.

AS YOU KNOW, EL PETRO ES A CRYPTOCURRENCY ...AND CRYPTOCURRENCIES OBTAIN THEIR MARKET PRICE THROUGH A PARTICULAR PROCESS, WHICH EL PETRO IS FOLLOWING.

[coinve]

i was thinking one way to buy Petros in the U.S. dictatorship and protect your identity.

create a new bitcoin/ethereum wallet never used before.
to create and access this new wallet,
don't use your home/job/school/university internet access and your regular computer/laptop/smartphone.

buy an used laptop with cash to a person, don't buy it in a store with receipts and debit/credit cards.
you need a laptop with wifi connection power enough to run cryptocurrency wallets.
connect this laptop to internet using a public/open/free wifi connection outside.
wallet communication to its blockchain should be encrypted to avoid wifi sniffer attacks for example.
create the petro wallet with this laptop.

you can buy an used smartphone with cash with wifi connection but without phone signal (not connected to a cell phone provider).
but there isn't yet a petro wallet for android/ios, so right now you need a laptop.

go to a bitcoin/ethereum ATM with cash.
buy some bitcoins/ethereum and send it to your new bitcoin/ethereum wallet.
buy Petros sending your bitcoins/ethereum from your new wallet to the venezuelan wallet.
you will receive your petros in your new petro wallet.

if the bitcoin/ethereum ATM asks for your mobile number or another personal identification, find another way.
ATM machines can have cameras and fingerprints detectors.

there should be other ways if you think about it better.

[happyminer1]

Update

In a long press conference Maduro gave an update on the progress of the petro: There are now 200.927 certified "intentions of offers" amounting to $5.025.181.787,54. (Nothing was sold so far.) In the words of Maduro sales will start tomorrow, and will be done in yuan, ruble, Turkish lira, euro, ethereum, bitcoin and xem. He didn't mention the dollar. The vice president clarified that from tomorrow people who registered offers will receive concrete information where to transfer their money to and how they will receive there petros in their wallet.

[coinve]

thanks for the news sadminer1 

[taseenb]

Important announcements today from Venezuelan government. I will sum them up tomorrow (Happyminer already did a good job but there's more!).

[NEWS] Traki, Venezuelan brand of stores that sell house products, is already showing signs to say that they’ll accept Petros.
This could sound irrelevant, but a large company is using the Petro as promotional marketing (because Petro is not even available yet).

This is not an informative message, it's an ad: Petro is new and is cool, we want to be part of it!

In my opinion this refers to the expectation that Petro could be a national currency more convenient and secure than the dollar and much more stable than the Bolivar.

https://i.imgur.com/go4C2wW.jpg

http://notitotal.com/wp-content/uploads/2016/11/14nov13fiscalizttraki1.jpg

[taseenb]

PETRO TRANSACTION SPEED AND FEES?

This is a big subject. Please share info!

This is what I know so far: NEM blockchain transactions take 10-30 seconds! With up to 4000 transactions per second.
So that seems acceptable for everyday shopping.

But Petro transaction fees are still unknown.
XEM fees are quite small: 0.05 per 10000 XEM (capped at 1.25) per transaction. It'd be interesting to know if the same proportion applies to Petros. I suppose they will adjust the fees to the value of Petro (much higher than XEM), otherwise it'd be too expensive for small transactions.

Anyway, in terms of speed this is another important advantage compared to Ethereum.

Read more about XEM and fees: https://nem.io/wp-content/themes/nem/files/NEM_techRef.pdf

[taseenb]

But what´s the point in selling Petros by Dollars?
If this coin is posed to make Venezuela independent economically why Venezuela just don`t pay from now on with Petros to everybody?
To buyers, to their administration, to the people of Venezuela....., etc.
Why the want Dollars if that is the devil?

I don`t understand.

People already answered. My take.

Venezuela needs dollars for the international trade. Unfortunately all countries need ways to get dollars (this is changing though, quickly). And nobody at the Venezuelan government thinks it's "evil": they've been isolated by the US, they haven't chosen to isolate themselves. Because of the sanctions, now it's harder than ever for them to get dollars.

Of course, while trying to get dollars, they are also working hard to be less dependent on it and to diversify their reserves. Now they accept Yuan and Euros in their oil trade. Soon Petros.

The Petro will be adopted as much as possible, but that will take time. Anyway, no crypto in the world will have the level of adoption the Petro will have very soon.

[LUCKMCFLY]

monero or zcash could also be banned by usa if they officialy work with venezuela unfortunately....

If it is very probable, but DeepOnion has something better to offer, it can give privacy and total anonymity, with transactions impossible to trace, even in countries with prohibitions and regulations, many things could be achieved, because the ban that the USA gave could affect a lot, It would be a masterful move if they protect themselves with anonymity.

[LUCKMCFLY]

Agreed. But Venezuela should accept more secure cryptos too, like Monero and Zcash, so Americans can buy safely, without incurring in legal problems.

VPN, TOR...
a Petro Wallet in a exchange or a server outside U.S.

Tor is under US government control, so not a good idea to use it in general for anything that is illegal in the US. The problem is not the connection, but the money transfer during the ICO. You’re right that maybe I’ll be possible to access exchanges that trade Petros, but probably they won’t allow that either.

Anyway the goal of sanctions is to prohibit but also discourage. And they obviously manage to do it easily. It won’t change things as this was obvious.

Exactly, but DeepOnion works with integrations within Tor, has obfuscator OBFS4 and MEEK, which can enter any country even in those where Tor is not allowed.

[foroplus]

later, when it will be accepted globally as a payment.
like ethereum, bitcoin...

Of course, while trying to get dollars, they are also working hard to be less dependent on it and to diversify their reserves. Now they accept Yuan and Euros in their oil trade. Soon Petros.

The Petro will be adopted as much as possible, but that will take time. Anyway, no crypto in the world will have the level of adoption the Petro will have very soon.

Cool. Good to know.
I´ll wait for the Petro to be a worldwide accepted currency.

[foroplus]

monero or zcash could also be banned by usa if they officialy work with venezuela unfortunately....

If it is very probable, but DeepOnion has something better to offer, it can give privacy and total anonymity, with transactions impossible to trace, even in countries with prohibitions and regulations, many things could be achieved, because the ban that the USA gave could affect a lot, It would be a masterful move if they protect themselves with anonymity.

And, would it be possible using TOR network and other stuff like this to relaunch the economy of a huge country like Venezuela?
Can the macro relations be treated in an "anonymity environment".

[taseenb]

And, would it be possible using TOR network and other stuff like this to relaunch the economy of a huge country like Venezuela?
Can the macro relations be treated in an "anonymity environment".

TOR is a US government military product. It certainly won’t help Venezuelans achieve anything (it's just a browser), apart some criminals who can use it for illegal trades. It certainly won’t help recover the economy.

Many are working in many ways to recover the economy, and they’re doing a good job. They’ll surely succeed at some point, despite the huge enemies and mafias they face.

[foroplus]

And, would it be possible using TOR network and other stuff like this to relaunch the economy of a huge country like Venezuela?
Can the macro relations be treated in an "anonymity environment".

TOR is a US government military product. It certainly won’t help Venezuelans achieve anything (it's just a browser), apart some criminals who can use it for illegal trades. It certainly won’t help recover the economy.

Many are working in many ways to recover the economy, and they’re doing a good job. They’ll surely succeed at some point, despite the huge enemies and mafias they face.

Well, I'm just trying to stick to the subject of this forum, which is the cryptos and to some extent the economic dynamics they generate. I don't want to see the ghosts some users are seeing here.
The way is not to put the blame always on others.
On the other hand, creating a new crypto to foster owns economy shouldn't be a bad idea. Let's see how it works.
But, and there are always buts, cryptos by definition are decentralization, and this is a new concept never seen on then, is the other way around, centralization by a government. Who, when opens a little the trade permitting transactions with users wallets, will lose the control, that it's to say, the pretended centralization. Again, let's see how it will work.

Regarding macroeconomics, and talking under a theoretical point on view, if some nation wants to shake off the burden of the Dollar,  should trade at the very beginning with Rubbles, € and Yuans among others, to switch ASAP to its own currency, the Petro.

And I repeat, this is a crypto forum, extended of course to it's economic dynamics and obviously it's essential technical face. So, in my humble opinion no political diatribe should be yelled.