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

[STT]

Venezuela doesn't have far too much oil if you take into account dwindling production, internal consumption, obligations from oil-for-cash deals and its need for foreign currency. A deal with India with a discount of 30% would mean that either internal consumption is reduced further, obligations of oil-for-cash deals are not fulfilled or sales with 100% payment are changed to sales with only 70% payment.

I see your point but India is an important client to establish.  I've thought this for 20 years maybe, the growth potential of this country is gigantic and I believe the majority of the country is under 30 years old.  Contrast that to most ageing western markets and its quite easy to say India could easily be a large part of the world economy in future.   They need the energy and growth from a number of sources, Venezuela is probably correct to make a strong move to be part of that.   
But yes it is some burden to offer that discount, economies of scale requires efficiency in order that having such a large trading partner is an advantage.  Crypto can offer some of that efficiency I think but obviously hydro carbons are a complex chain requiring alot of refinement along many points in order to call it a significant success in total.   I agree its not a simple situation but India is an ideal trading partner to have on the books.

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[jgaltt]

I have to agree, they can exchange worth in any medium they feel like.   India could use gold if they wanted but they use it as a reserve.    They could send over cattle for the oil if it was agreed, theres no law on this that I ever heard.   Crypto is a quick transaction if nothing else.   The sanctions are USA and EU based not UN ?

Correct. Only monetary mafia gang (IMF) defines "international currency", but no law or global agreement imposes to trade with in any specific currency. Obviously and luckily.

"Sanctions" (as they are called) are formally and totally illegal for the UN, they violate international law and are against any established diplomatic rule that prohibits any form of unilateral agression against a country in relation to its internal affairs (actually under that pretext).

If international laws and UN agreements were applied and countries were like individuals, the US and EU would be hanged or would spend their lives in prison. Certainly for what they did and do to Venezuela, without even mentioning the massive crimes they regularly inflict to other countries and peoples.

Alright, I made a mistake. Read more about transactions, you are right about this part. But the sanctions are still not illegal, since US and other countries that impose them are members of the UN.. and besides, what other options do you see ? Like, should the whole world then support dictatorship like Maduro's or that regime of Putin or North Korean regime? I think sanctions are good, as long as they don't harm the citizens. And in case of Venezuela, the pauperización of the nation if fault of the government, sanctions are not as much to blame

[jgaltt]

Also read an interesting article on the topic. Maduro dwells on how El petro is aimed at stabilizing economy but in fact it will only cause further hyperinflation. Here is the article: https://m.aporrea.org/economia/a262537.html

[jakartanthor]

Also read an interesting article on the topic. Maduro dwells on how El petro is aimed at stabilizing economy but in fact it will only cause further hyperinflation. Here is the article: https://m.aporrea.org/economia/a262537.html

Their already investing in economic zones and bought food for people, that article from opposition paper is bullshit

[EHEP]

I have to agree, they can exchange worth in any medium they feel like.   India could use gold if they wanted but they use it as a reserve.    They could send over cattle for the oil if it was agreed, theres no law on this that I ever heard.   Crypto is a quick transaction if nothing else.   The sanctions are USA and EU based not UN ?

Correct. Only monetary mafia gang (IMF) defines "international currency", but no law or global agreement imposes to trade with in any specific currency. Obviously and luckily.

"Sanctions" (as they are called) are formally and totally illegal for the UN, they violate international law and are against any established diplomatic rule that prohibits any form of unilateral agression against a country in relation to its internal affairs (actually under that pretext).

If international laws and UN agreements were applied and countries were like individuals, the US and EU would be hanged or would spend their lives in prison. Certainly for what they did and do to Venezuela, without even mentioning the massive crimes they regularly inflict to other countries and peoples.

Alright, I made a mistake. Read more about transactions, you are right about this part. But the sanctions are still not illegal, since US and other countries that impose them are members of the UN.. and besides, what other options do you see ? Like, should the whole world then support dictatorship like Maduro's or that regime of Putin or North Korean regime? I think sanctions are good, as long as they don't harm the citizens. And in case of Venezuela, the pauperización of the nation if fault of the government, sanctions are not as much to blame

So, you would approve that Venezuela and Nicaragua bombed Washington, DC because, according to you, it wouldn't be illegal, given that these countries belong to the UN.

[coinve]

Basically, this is the truth of the situation.
Most people who write here know very little about Venezuela; so little that they CAN'T understand what's happening with the Petro.

i'm venezuelan living in Venezuela.
no important news about Petro.
and i'm not going to spend time translating non-relevant news.

Others are just trolls, whose purpose is to harm Venezuela and the Petro.

that's right.

------

i thought they were going to release it before Expo Venezuela 2018.
they didn't do it.
when are they going to release it? nobody knows.

[jakartanthor]

Most people on the thread are here just to make weird conspiracy theories about Venezuelan government, Russian government, they show their ignorance when de facto the only thing we should do is wait until the Petro rise. And it surely will

[kriptokraker]

Most people on the thread are here just to make weird conspiracy theories about Venezuelan government, Russian government, they show their ignorance when de facto the only thing we should do is wait until the Petro rise. And it surely will

Dude, russian involvement is proved,, scrollhread, couple of weeks we had a discussion on this

[taseenb]

Dude, russian involvement is proved,, scrollhread, couple of weeks we had a discussion on this

LOL the concept of "proof" and what the proof would be about is a comedy though. Brains washed and re-washed by US anti-Russian paranoia and propaganda 24/7 is a must nowadays.

Venezuela has very good diplomatic and commercial relations with Russia (and China and many other countries) and one of the companies that develops the Petro is Russian. Not a secret. Only Americans can be so dumb, racist and brainwashed to consider that an issue.

[khe-med]

What cryptocurrencies can i use for get  tokens?

[STT]

ETH and BTC are the two main crypto currencies I would say in general but to buy PTR now would be done on an exchange.  Im not sure I know of any open exchanges now or even planned which are listing PTR, Im sure there must be something in the works but Ive not spotted that stated on the thread.
  It should be in the OP if there are any, since there is the sanction question there has been a lack of news generally.   I would expect to hear far more of PTR considering its size under normal circumstances

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)

Quoted from the OP, Im not a fan when the OP fails to be updated with new info as anything can get lost in discussion back and forth and of course many commentating here have no interest in actively trading so would not know these details.    
Ive scanned their various media accounts but I see no recent information

[EHEP]

I wonder what the information on this link means:


GTMAT
4 days ago
Ya empezo a moverse el petro poco a poco

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

[taseenb]

ETH and BTC are the two main crypto currencies I would say in general but to buy PTR now would be done on an exchange.  Im not sure I know of any open exchanges now or even planned which are listing PTR, Im sure there must be something in the works but Ive not spotted that stated on the thread.
  It should be in the OP if there are any, since there is the sanction question there has been a lack of news generally.   I would expect to hear far more of PTR considering its size under normal circumstances

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)

Quoted from the OP, Im not a fan when the OP fails to be updated with new info as anything can get lost in discussion back and forth and of course many commentating here have no interest in actively trading so would not know these details.    
Ive scanned their various media accounts but I see no recent information

The ICO is still open. People can still buy Petros from the official website (only with BTC, ETH, XEM and Rubles - no Dollars and Euros are accepted).

There are no other particular updates at the moment. The white paper says the ICO will be open until all coins reserved for it will have been sold (about 80 million PTR in total). They haven't sold all of them, very hard task with all the limitations they have.

[Ejzg]

Check your wallet Petro token has arrived!

[cryptoviagra]

I received the PETRO....Amen....😊��💰💰💰

[taseenb]

[UPDATE] Petro distribution has started!

I have a first transaction on Sunday 6th May. Strange that the amount is not shown in the main bar of the wallet. It still shows 0. Is it the same for you?

[taseenb]

This looks like the Petro pre-sale and ICO transactions (which are the same thing at the end of the day, just with different discounts).

Click on "Mosaic transactions" to see the amount of Petros for each transaction:

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

[Ejzg]

[UPDATE] Petro distribution has started!

I have a first transaction on Sunday 6th May. Strange that the amount is not shown in the main bar of the wallet. It still shows 0. Is it the same for you?

It is the same. I am not sure why but I assume that the reason it is like that is because those are tokens that entitle you to eventually change them for real Petros once the Petro blockchain is ready.

[taseenb]

[UPDATE] Petro distribution has started!

I have a first transaction on Sunday 6th May. Strange that the amount is not shown in the main bar of the wallet. It still shows 0. Is it the same for you?

It is the same. I am not sure why but I assume that the reason it is like that is because those are tokens that entitle you to eventually change them for real Petros once the Petro blockchain is ready.

I'm not sure, because the "Petro blockchain" is actually NEM. Maybe it's just how mosaics work or a defect of the wallet. Very little information from the Petro team...

[happyminer1]

I received the PETRO....Amen....😊��💰💰💰

Congratulations! Would you like to share how much you paid for one petro?